Category: Business Mirror

IN my September 3 column, I wrote about the excessive greed for money that fuels misconduct such as fraud and corruption-the most pressing, interconnected issue in the country right now and labeled as the largest corruption scandal in history.

The Anti-Money Laundering Council (AMLC) has asked the Court of Appeals (CA) to freeze assets of individuals and entities linked to anomalous flood control projects. These assets cover more than 700 bank accounts, insurance policies, luxury vehicles and real estate properties.

A freeze order is valid for 20 days, during which it will be determined whether to lift or extend it for up to 6 months if the CA finds probable cause that the frozen accounts are related to illicit activities. If the court does not file a case within this period, the freeze order is automatically lifted.

Why issuing freeze order of bank accounts suspected of graft and plunder a crucial first step? It is an important action to prevent movement or disposal of funds and other assets believed to come from unlawful activities. Criminals and plunderers typically move illegal wealth quickly into shell companies, foreign bank accounts, expensive purchases, gambling, or cryptocurrencies.

A freeze order stops them from transferring or liquidating assets while investigations are ongoing. Without it, assets will be very difficult for authorities to trace and recover.

Banks of accounts under investigation are legally required to act on a freeze order immediately and lock these bank accounts to prevent any access or movement. Funds stay locked until the freeze order expires or gets lifted. Banks also preserve transaction history of frozen accounts and provide the AMLC with records and related documents that can be used for the investigation.

The ongoing Senate probe on the issue is becoming more and more complex by the day. Filipinos want to know the truth and see more names exposed, but most importantly, we want these investigations to bring justice-prosecution of parties involved and real reforms to curb systemic corruption in government.

Loud and clear, beyond recovery of stolen public funds, people want restitution. It is taxpayers’ money stolen, and assets recovered should be returned to the people. Can the government give us a tax break or holiday, or reduction in income tax and VAT for a period? In other jurisdictions, however, governments will go after prosecution and asset recovery, then use recovered assets for social services and programs, rather than tax holiday or offsetting tax collections.

The Bureau of Internal Revenue (BIR) collected Php2.85 trillion tax in 2024, with income taxes accounted for 53.75 percent of the collection. If only our taxes are put to good use or intended purpose such as the government’s flagship projects and social services, the country can improve its climate resilience, disaster risk prevention and management, support sustainable economic growth and we will not be in this predicament now.

In a recent interview, BSP Governor Eli M. Remolona Jr. assured the public that the banking sector remains strong and liquid. Banks, on the other hand, will continue to act as gatekeepers to detect suspicious transactions, and support additional reforms such as strengthening checks and balances, stricter measures to make it more difficult for illegal funds to enter and exit the financial system.

Even if we are all angry and dismayed, we must keep our faith in the integrity of our institutions, judicial process and law enforcement. We should continue to press for transparency and accountability in governance. We deserve a government that’s credible, honest, just and truly serves the people.

Why spend ?12 billion a year on foreign servers when we can build our own for ?2.5 billion?

This was the central question raised during the House deliberations on the DICT’s 2026 budget, as lawmakers pressed for investments in local data centers to reduce dependence on costly and risky foreign cloud storage.

Rep. Presley De Jesus asked the sponsor how much government would need to establish its own facilities.

Rep. Brian Poe, sponsoring the budget, replied:

‘Mr. Speaker, it will cost us ?2.5 billion pesos. However, what I wasn’t able to clarify. is that the ?2.5 billion is not all in one go. In fact, based on the absorptive capacity of DICT, we will have to spread out this ?2.5 billion across the remaining three years of the administration to build these data centers.’

Rep. Robert Nazal then raised funding options, suggesting the Spectrum Users Fund (SUF) as a possible source:

‘Since we’re already requesting for the ?2.5 billion and we intend to get it from the GAA, why not get it from the SUF?’

Poe acknowledged the proposal but explained DICT’s immediate priorities:

‘Mr. Speaker, DICT is prioritizing the connectivity, the internet connection, as well as the continuing appropriation for maintenance and operation of these Free Wi-Fi sites. Now, to my colleague’s point, I understand where he’s coming from. If there’s ?21 billion sitting in this fund and there is a bad need for these data centers, why not consider the data centers? And that’s something that we can take up. But before we go into that, I think the DICT has a pressing commitment by October to deliver these Free Wi-Fi sites to the Filipino people.’

Both interpellators and Poe agreed that local data centers are vital – not only to save billions in recurring cloud rental costs but also to safeguard sensitive government information. Poe closed by emphasizing that DICT has steadily improved its absorptive capacity – from 87% utilization in 2024 to a projected 93% in 2025 – making it ready to roll out phased investments in data centers while ensuring the timely delivery of Free Wi-Fi commitments to the Filipino public.

Seven years after the launch of the Meetings, Incentives, Conventions, and Exhibitions Roadmap 2030, the Philippines’ performance in attracting international MICE delegates remains shockingly low. Senator Loren Legarda’s incredulous reaction to the Department of Tourism’s (DOT) budget presentation, where it was revealed that a mere one percent of tourist arrivals are for conventions and conferences, underscores the gravity of the situation. With only 60,000 MICE delegates out of nearly six million international travelers in 2024, it’s clear the country is missing out on a significant economic opportunity.

The Tourism Promotions Board acknowledges the need for improvement, citing safety and security concerns as major challenges. While these are legitimate issues, they are not insurmountable, nor are they solely the responsibility of the DOT and TPB to solve. As Senator Legarda pointed out, MICE is a ‘low-hanging fruit’-an area where the Philippines should be excelling.

The lack of comprehensive data on MICE arrivals, particularly pre-pandemic, is a major impediment. The TPB’s admission that gathering this data is a priority for next year is concerning, given that the MICE Roadmap 2030 was launched in 2018. Without a clear baseline, it’s impossible to effectively measure progress and identify areas for improvement.

Even more troubling is the revelation that the DOT has yet to finalize a Strategic Action Plan for the MICE Roadmap 2030. Industry sources claim that they have not been presented with any concrete plans, and that the DOT has only launched a MICE slogan. This lack of action is unacceptable and suggests a lack of commitment to developing the MICE industry.

Compared to its Southeast Asian neighbors, the Philippines lags far behind. Singapore, Thailand, and Malaysia all attract significantly more MICE delegates. While the TPB points to Malaysia’s landlocked status as a factor in its success, Singapore’s dominance in the region demonstrates that strategic planning, infrastructure, and effective marketing are key to attracting MICE events.

The Philippines has the potential to be a major MICE destination. With its beautiful scenery, warm hospitality, and strategic location, the country has much to offer. MICE delegates spend a considerable amount of money and tend to stay longer, making them valuable tourists. To unlock this potential, the DOT and TPB must prioritize the development of a comprehensive and actionable MICE strategy. This includes addressing safety and security concerns, gathering comprehensive data, finalizing the Strategic Action Plan, and working closely with industry stakeholders.

The MICE industry holds immense potential for economic growth and job creation. With a daily expenditure of P6,000 per delegate and an average stay of 11 days, MICE tourists contribute significantly to local economies. We can develop our MICE industry by shifting from mere slogans to effective stewardship. This involves gathering reliable data, creating actionable plans, fostering collaboration across government, and empowering the industry to compete. If the next seven years repeat the past, the country risks missing out on a straightforward opportunity for higher-value tourism. However, if we take action now, the Philippines can still harvest the ‘low-hanging fruit’ outlined in its own roadmap.

THE Philippines’ failure to address learning poverty in basic education could turn the country’s much-touted demographic dividend into a liability within the next five years, according to the Philippine Business for Education (PBEd).

PBEd Executive Director Hanibal Camua warned that unless urgent reforms are made, the country’s young workforce may end up unemployed or stuck in poor-quality jobs.

‘What we are actually confident about.the demographic dividend, within five years, it becomes a demographic deficiency. It becomes a liability,’ he said. ‘They will become the next beneficiaries of your 4Ps, AKAP, AICS, TUPAD because they will find themselves unemployed.If they are employed, they will be.in bad jobs.’

International benchmarks reflect the scale of the problem. The 2025 IMD World Talent Report ranked the Philippines 64th out of 69 economies, trailing Asean peers like Malaysia, Thailand, and Indonesia.

The report measures how countries develop, attract, and retain talent, and Camua said the Philippines’ low standing is rooted in weak foundations at the primary level.

Meanwhile, in the 2022 Programme for International Student Assessment (PISA), Filipino students ranked third lowest in science with an average score of 356, and sixth lowest in both mathematics and reading with 355 and 347, respectively, among 81 countries.

These scores showed little improvement from 2018, when the country scored 357 in science, 350 in mathematics, and 340 in reading.

A World Bank study also found that as of 2021, nine out of 10 children in the Philippines could not read and understand a simple text by age 10, a benchmark indicator of learning poverty.

Camua said this collapse in early learning is carried forward through the education system.

‘If we are not doing very well in basic education, then basically those that will proceed to senior high school and eventually to college will have low competencies. And it shows,’ he said.

Government data also reinforce the concern.

Earlier this year, the Philippine Statistics Authority’s Functional Literacy, Education and Mass Media Survey (FLEMMS) showed that while 90 percent of Filipinos aged 10 to 64 could read and write, only 70.8 percent were considered functionally literate-or able to comprehend and apply information.

This means that for every nine individuals who can read and write, two still struggle with comprehension.

Camua stressed that the problem is not attributable to a single administration, but to decades of underinvestment that weakened the country’s education pipeline.

‘It’s been a systemic negligence, I would say. It’s not attributable to this administration or the previous administration,’ he said.

The Philippines, once seen as a model for education in Southeast Asia, has already been overtaken by its neighbors.

In the latest IMD rankings, Malaysia rose to 25th, climbing eight spots, while Thailand ranked 43rd and Indonesia 53rd.

All three countries placed well above the Philippines, which continues to lag near the bottom.

Pag-IBIG Fund, the Department of Human Settlements and Urban Development (DHSUD), and the Department of Social Welfare and Development (DSWD) turned over new housing units on Monday, 29 September, to graduating qualified beneficiaries of the government’s Pantawid Pamilyang Pilipino Program (4Ps) who are also active Pag-IBIG Fund members.

The turnover ceremony, held at the Abuab Housing Project in San Mateo, Rizal, also marked the kick-off of National Shelter Month 2025, reinforcing President Ferdinand Marcos Jr.’s directive to provide safe, decent, and affordable shelter for all Filipinos. The event showcased the result of strong collaboration among national government agencies and local government units, working together to expand access to dignified housing under the Expanded Pambansang Pabahay para sa Pilipino Program (4PH).

DHSUD Secretary Jose Ramon P. Aliling highlighted the importance of inter-agency cooperation in fulfilling the administration’s housing goals.

‘President Ferdinand Marcos Jr. has directed all government agencies to help one another in making homeownership more accessible to Filipinos, especially our 4Ps beneficiaries. Today’s turnover is a fulfillment of that directive. This is the first Expanded 4PH pilot project in Region IV-A. In close coordination with DSWD, we are matching the housing needs of 4Ps families in our collective effort to uplift lives,’ said Secretary Aliling.

Meanwhile, DSWD Secretary Rex Gatchalian emphasized the long-term impact of the initiative on social development.

‘DSWD’s mandate is not only to provide relief during times of crisis but to help our fellow Filipinos break free from poverty. This is the first time we have partnered with DHSUD on a project like this, and we are grateful that our 4Ps beneficiaries now have the chance to own a home through the expanded 4PH program. Hindi na kayo uupa. May sarili na kayong tahanan,’ said Secretary Gatchalian.

Pag-IBIG Fund, represented by Deputy Chief Executive Officer Alexander Hilario G. Aguilar, affirmed that qualified members can avail of their own homes at Abuab Towers, which will offer a total of 4,330 condominium units. For a 24-square-meter unit, the monthly amortization is as low as ?6,201.81 and can be further reduced to ?4,849.38 with DHSUD’s subsidy.

More than 100 4Ps beneficiaries have already received Notices of Approval for their Pag-IBIG housing loans, with several formally receiving their units during the ceremony. Pag-IBIG Fund continues to serve members nationwide through a wide range of benefits, including savings programs, multi-purpose loans for urgent needs, and other housing modalities under the Expanded 4PH Program.

To bring services closer to the community, Pag-IBIG Fund deployed its Lingkod Pag-IBIG on Wheels (LPOW) during the event. The mobile service unit provided on-the-spot assistance for membership registration, housing loan inquiries, and other programs. The San Mateo turnover stands as a milestone in the joint efforts of DHSUD, DSWD, Pag-IBIG Fund, and the Local Government of San Mateo to realize the government’s vision of providing every Filipino family with a decent and affordable home.

An initial ?2 billion pesos estimated worth in infrastructure damages was reported by the Department of Public Works and Highways (DPWH) from the 6.9 magnitude earthquake that struck Cebu province on Tuesday evening, Sept. 30, 2025.

In a press conference, DPWH Sec. Vince Dizon said the figures could still go up as their teams continue to conduct more assessments.

Dizon told reporters that right now their priority are clearing the roads and providing access for unhampered delivery of relief goods to the affected areas.

‘We were sent here by the President [Ferdinand ‘Bongbong’ Marcos Jr.] quickly respond immediately to the needs of Bogo and the other LGUs,’ he added.

Apart from the repairs of roads and bridges, the DPWH secretary said they will send a team to assess the structural integrity of the Bogo City Provincial Hospital.

From their visit, he reported that the hospital incurred major damages in its operating room, emergency room, and the delivery room. With this, he instructed DPWH Cebu to direct all its resources to conduct repairs starting today, Oct. 2, 2025.

TOURISM

Apart from the infrastructure, Department of Tourism (DOT) Sec. Christina Frasco reported that 80 tourism establishments incurred damages and severely affected 711 tourism workers.

She asked the Department of Social Welfare and Development (DSWD) to provide assistance for them.

DOT has also facilitated for the safe return of 14 local tourists who got stranded and assisted one foreign tourist to stay in a safe place in Bogo City as the latter opted not to leave there.

‘We want to assure the local governments that the national government is here to help out. Nakighiusa mi sa mga kaigsonan sa Sugbo niining nahitabo (We are in solidarity with our brothers and sisters in Cebu after what happened),’ Frasco assured.

The DOT will also send a team to conduct assessments to the churches that were damaged in the earthquake.

Meanwhile, President Ferdinand ‘Bongbong’ Marcos Jr. is set to visit the quake hit areas in Cebu today, Sec. Dizon confirmed during the press conference.

THE pandemic years marked a turning point for Mark Lewis Higgins. He turned 60, mourned the loss of his sister, and faced the truth that he alone carried the responsibility for Slim’s Fashion and Arts School, founded in 1960 by his mother and National Artist Salvación Lim Higgins, and his aunt Purificación Lim.

‘I realized I needed to think about succession. If something happens to me, what will happen to this school?’ he said. ‘It’s not so much for the legacy of my mom. It’s more because if the school shuts down, it would be a great loss for the country. The curriculum is so valuable.’

Slim’s became known for its strict training in design, dressmaking, and patternmaking. The school set the benchmark for technical precision in Philippine fashion education, and produced generations of designers and artisans, among them Oliver Tolentino, Jo Ann Bitagcol, Joe Salazar, Oskar Peralta, and Michael Cinco. For Higgins, the main question was how the school would continue.

‘We weren’t just looking for a partner,’ he explained. ‘We were looking for a community that understands the dignity of making.’

In September, the ownership and custodianship of Slim’s Fashion and Arts School was officially handed over to the De La Salle-College of Saint Benilde (DLS-CSB).

‘Benilde has the infrastructure, the heart, and the commitment to carry Slim’s forward,’ Higgins said.

Under the agreement, Slim’s will continue offering its diploma and certificate programs under Benilde’s School of Environment and Design. The college will retain Slim’s core courses in Dressmaking, Bespoke Tailoring, Fashion Illustration, and Draping, while introducing new ones such as the Textile Series, Fashion Business Series, and Styling.

‘This is not just a merger,’ said Bro. Edmundo Fernandez, FSC, president of CSB, during the ceremonial handover and MOU signing on September 4 at the college’s Design + Arts Campus. ‘It’s a custodianship. Slim’s is a national patrimony, and we’re honored to be entrusted with its legacy. We want to make its training accessible to more students, especially those who come from middle-class backgrounds and aspire to build careers in fashion.’

Christine Cheryl Benet, incoming director of Slim’s under Benilde, stressed that the school’s identity will remain intact. ‘Slim’s has always been about precision, discipline, and honoring the craft,’ she said. ‘We’re expanding into arts and design, but the core remains-we train makers, not just dreamers.’

The agreement also links Slim’s archives with the planned Benilde Fashion Museum at the historic Miguel Febres Cordero Building. The museum will house garments, sketches, and documents from Slim’s and other Filipino designers, allowing students and researchers to study them firsthand.

For Higgins, the transfer involved many moving parts. ‘You can imagine it’s a very complicated transition.it’s like an octopus. In one tentacle, you have the curriculum. In another, you have the collection of dresses, which will now be with the Benilde Fashion Museum. Then another tentacle is the library, which houses hundreds of books. Then you have the archive of vintage photographs, my mom’s original fashion designs. So it’s a lot for them to absorb and to plan for.’

One piece in particular was difficult to let go. ‘My mom’s wedding gown. She designed and made it herself. She closed her shop for two months just to create her entire wardrobe when she got married. It’s a beautiful gown. It hasn’t been seen since 1959, but we’ve been photographing it for an upcoming book,’ he said.

The gown, he added, is a testament to her craft. ‘She bought this really expensive lace from Paris, and she always told me it was heirloom lace. The lace has not disintegrated, and the dress is beautifully cut. It’s Dutch satin and silk, and whatever was left from that lace, she made into the christening dress for my sister and me.’

Benet explained that Slim’s will remain a separate unit under Benilde. While Benilde runs four-year fashion and design degree programs, Slim’s will focus on shorter certificate and diploma courses, including TESDA-recognized training. This ensures that the Slim’s Method of dressmaking and tailoring is preserved while being integrated into Benilde’s offerings. She noted that Slim’s curriculum would broaden through Benilde’s expertise in fields such as textiles. This expansion would strengthen the fashion ecosystem, benefiting not only designers but also artisans and other makers who are vital to the supply chain.

Sustainability is another priority. Benet pointed out that many Filipinos today lack access to skilled dressmakers or tailors. ‘One of the main problems of typical Filipinos is that there’s no one to sew in their area. First and foremost, we don’t even know how to repair clothes,’ she said. By producing more skilled artisans through Slim’s, she hopes communities will learn to repair and modify clothing rather than relying on fast fashion.

She also emphasized Slim’s role in preserving Filipino identity in fashion. Many young designers, she observed, are unfamiliar with earlier generations of Filipino designers. By keeping Slim’s teaching methods and archives alive, students gain a deeper understanding of the roots of Philippine fashion, not just its Western influences.

Higgins believes Benilde is the right custodian to carry Slim’s forward. ‘The exciting thing is, because it’s in the hands of an institution like De La Salle, they can run it on a larger scale than my sister and I ever could. They want to retain the clientele of people who don’t necessarily want a college degree but who want to learn a skill. At the same time, they can integrate it so that you can ladderize it and still earn a degree. In a way, they’re reaching a broader market than we would.’

Benilde established the country’s first bachelor’s degree in fashion in 1996. With Slim’s under its wing, the college can now support both degree programs and skill-based training.

‘The fashion industry is incredibly diverse,’ Benet added. ‘It is made up not only of degree holders, but also artisans and makers, all of whom are vital to keeping our industry alive. By housing the Slim’s Fashion and Arts School under Benilde, we can contribute more holistically to the Philippine fashion ecosystem-nurturing not only designers, but also the artisans and technical experts that bring fashion to life. This milestone ensures that Slim’s legacy thrives in the hands of a new generation.’

The Department of Health (DOH) has deployed medical teams to Bogo City, Cebu, following the magnitude 6.9 earthquake on Tuesday night.

Health Secretary Teodoro Herbosa stated that the first batch of the emergency response team originated from the Vicente Sotto Memorial Medical Center (VSMMC) in Cebu City.

Also, the DOH Cebu South Medical Center (CSMC) deployed medical teams on Wednesday, not only in Bogo City but also in nearby areas.

The DOH Centers for Health Development (CHDs/ regional offices) in Central and Eastern Visayas have reported back and are now coordinating with their regional counterparts of the Office of Civil Defense (OCD).

‘The DOH advises all in affected areas to heed all instructions and advice from their local government units, and to brace for possible aftershocks,’ the DOH said.

Meanwhile, the Philippine Red Cross (PRC) has mobilized its ambulances from Cebu, Bogo, and Masbate to assist those affected by the earthquake.

The PRC said that its volunteers continue to respond on the scene to provide essential medical care.

MAKATI Medical Center (MakatiMed) reached a historic milestone on August 20, 2025, with the proclamation of its chapel under the patronage of Our Lady of Guadalupe. The celebration was marked by a solemn mass presided by His Eminence Jose F. Cardinal Advincula, Archbishop of Manila, joined by priests and ministers from the Archdiocese of Manila.

During the liturgical celebration, Cardinal Advincula formally installed Fr. Moses Eduardo Ciego as chaplain of the newly proclaimed Our Lady of Guadalupe Chapel.

Following the mass, he led the blessing of the chapel marker which serves as a lasting testament to the hospital’s devotion to the Blessed Virgin Mary under this title.

The hospital’s devotion to Our Lady of Guadalupe was initiated years ago under the leadership of then medical director Dr. Raul G. Fores. This was strengthened during the Covid-19 pandemic, when the hospital community turned to prayer and intercession amid unprecedented trials.

In his message for the occasion, Saturnino P. Javier, MD, MakatiMed interim co-president, CEO and medical director, emphasized how the consecration of the chapel reflects the hospital’s gratitude for divine guidance and protection: ‘All these 55 years of MMC, our healthcare workers continue to carry out their noble tasks of saving lives, promoting health, assuaging pain, and curing afflictions. Today, August 20, MMC does all these while affirming its devotion to Our Lady of Guadalupe.’

Under the patronage of Our Lady of Guadalupe, the chapel now stands as a sanctuary of faith, hope and healing for the entire MakatiMed community.

The low-pressure area east of Southern Luzon has developed into a Tropical Depression and is now threatening to bring hazards in land areas and coastal waters in the region, the state weather bureau said.

Paolo, the 16th weather disturbance to affect the country, is less likely to directly affect the weather conditions in the next 24 hours but it is expected to bring heavy rains on Friday, threatening Northern Luzon and portions of Central Luzon.

According to the weather bureau, the eye of the storm was spotted 760 km East of Virac, Catanduanes, and is moving westward at 25 km/h.

It is packing maximum sustained winds of 45 km/h near the center and gustiness of up to 55 km/h.

‘Wind Signal No. 1 may be hoisted over the eastern sections of Northern and Central Luzon as early as this afternoon or evening. The highest Wind Signal that will likely be hoisted throughout its passage is Wind Signal No. 3. However, since the possibility of reaching typhoon category before landfall is not ruled out, the worst case scenario is Wind Signal No. 4.,’ the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) said in its 11 a.m. Tropical Cyclone Bulletin.

Risk of coastal flooding

‘There is a potential risk of coastal flooding due to storm surge in low-lying coastal areas of Northern and Central Luzon due to the passage of Paolo,’ PAGASA said.

Paolo may also bring moderate to rough seas over the coastal waters of Northern and Central Luzon starting Friday.

Paolo is forecast to move generally west-northwestward for the entire forecast period.

Paolo may make landfall over Isabela or northern Aurora on Friday morning or afternoon.

PAGASA said a further southward shift of the track is possible depending on the strength of the high-pressure area to the north of Paolo.

Paolo will continue to intensify while over the Philippine Sea and may reach severe tropical storm or typhoon category by Friday morning.