Category: Business Mirror

It’s very clever of Sunnies Face to launch a fragrance collection with the product name in colors.

Red is a floral with amber and fruit notes. Pink is a fresh floral and by that description, you’d think it’s something only a teenager would like. It’s actually very wearable. Cream is a cotton musk. Brown is a woody brown gourmand. Yellow is a fresh citrus. Green is green and earthy, while Blue is an aquatic. Beige, one of the more popular fragrances, is a skin scent. Sunnies is a multi-brand company that started with eyewear 13 years ago. It has since grown into a group of brands spanning beauty, drinkware, retail, and experiences.

Each category serves a different purpose but each one aims to ‘bring beauty in everyday things.’ Thus, fragrance seems to be a natural extension of this vision.

‘Every category we enter begins with the same question: How can we make an everyday moment feel more special?’ said Jess Wilson, co-founder and brand manager of Sunnies Face. ‘Fragrance is one of the most personal parts of someone’s routine. It felt like a natural extension of what we have always wanted to create.’

When Sunnies Face started to develop its first fragrance collection, the brand started with the question: What if you could smell color?

Each scent does live up to the color it was named after. Sunnies Blue has notes of amber, musk, sandalwood, citrus, apple, coconut, plum, and fig. Sunnies Red has sandalwood, white amber, musk, orchid, violet, jasmine, blackberry, and bamboo leaf. Sunnies Cream has ambroxan, musk, sandalwood, lily of the valley, peony, cotton, bergamot, mandarin, and lemon. Sunnies Beige has pink pepper, ambrette, musk, orris, and woody. Sunnies Brown has cinnamon, milk, cedarwood, cream, coconut, sandalwood, cashmere, vanilla, and musk. Sunnies Yellow has vetiver, tonka, cedarwood, neroli, ylang-ylang, bergamot, lemon, petitgrain, and tarragon. Sunnies Green has tomato leaves, geranium, and patchouli.

My favorites are Sunnies Green and Sunnies Beige. But I think Sunnies Brown is a very unique gourmand worth checking out. Each scent is available in two formats. Eau de Parfum (?995/50ml) offers a more concentrated and lasting fragrance experience, while Hair and Body Mist (?595/80ml) is lighter and can be used to refresh scent throughout the day.

The fragrances are available in all Sunnies Face stores and online channels.

Share prices inched up despite mixed corporate earnings result and on expectations that the Bangko Sentral ng Pilipinas (BSP) may pause rate hikes during its next meeting this month.

The benchmark Philippine Stock Exchange index gained 6.95 points to close at 6,297.30 points.

Broker 2TradeAsia said margin discipline has been the main highlight across second quarter earnings season.

‘Weighted projection for listed firms points to roughly 8 percent to 12 percent full-year earnings growth for the year, an assumption that we see as sector-specific, rather than broad-based,’ it said.

Average volume of trade was still depressed as it averaged only P5 billion. Foreign investors, who cornered 42 percent of the trades, were net sellers at P3.66 billion.

Other sub-indices ended mixed, led by the broader All Shares index that gained 20.77 points to 3,439.17, the Financials index rose 49.04 to 1,942.68, the Industrial index lost 21.65 to 8,108.49, the Holding Firms index added 77.61 to 4,542.24, the Property index was down 9.43 to 1,906.11, the Services index fell 58.05 to 3,417.18 and the Mining and Oil index shed 302.37 to 18,002.93.

For the week, gainers led losers, 125 to 80 and 39 shares were unchanged.

Top gainers were First Gen Corp., Swift Foods Inc., Ionics Inc., Paxys Inc., Cirtek Holdings Philippines Corp., Dominion Holdings Inc., Prime Media Holdings Inc. and ABS-CBN Corp.

Top losers, meanwhile, were Anglo Philippine Holdings Corp., Island Information and Technology Inc., Cityland Development Corp., Converge Information and Communications Technology Solutions Inc., Semirara Mining and Power Corp., Shell Pilipinas Corp. and Macay Holdings Inc.

This week

Share prices may remain depressed this week as investors are advised to maintain a defensive bias and resist the urge to chase high-beta cyclicals on global rate-cut headlines that may not translate into BSP action.

It will be a four-day work week as August 21 is a public holiday for Ninoy Aquino Day.

Broker 2TradeAsia said a softer United States employment data, with its July non-farm payrolls slowing to 114,000 and unemployment rate at 4.3 percent, has reignited aggressive US Federal Reserve’s rate-cut expectations, increasing expectations of ‘no move’ from the BSP at its next Monetary Board meeting on August 27.

‘We feel this assumption overlooks local realities. First, inflation eased to 6.2 percent in July but remains well above the 2- to 4-percent target, and the peso is trading near P61.40 per dollar,’ it said.

‘That leaves little room to exit the BSP’s current hawkish position at the 4.75 percent policy rate without risking renewed currency pressure. Our base case is a hold with very hawkish language attached, which should keep equity multiples capped until the Fed moves with more conviction, by around September.’

The broker said portfolio weightings should stay anchored in well-capitalized banks with strong deposit franchises and high-yield utilities or conglomerates offering dividend visibility that rival bond yields.

‘Use metal-driven rallies in local resource counters for quick gains, and keep dry powder ready for clarity once the August 27 decision lands.’

Stock picks

Broker Regina Capital Development Corp. gave a trade the range on the stock of SM Investments Corp. (SMIC) as its stock price is holding above its rising 9-day and 50-day moving averages at P596.50 and P594.49, respectively, which have converged and turned supportive.

‘However, the price remains below the still-descending 100-day SMA at P603.61, which caps immediate upside. Trade the range for now, buying support near P590 and taking profit into resistance just above the 100-day MA around P605, with a decisive close above that level needed to confirm a fresh trend reversal.’

SMIC’s shares closed last week at P600 apiece.

Meanwhile, it gave a buy on pullback advise on the stock of Jollibee Foods Corp. as its stock price closed above its short- and medium-term moving averages.

It also pushed right up against the still-elevated 100-day MA, which is the last hurdle before a full trend reversal.

‘Momentum favors chasing strength here too, buying pullbacks toward consolidation levels in the P150s and the creation of higher lows may warrant a further upside momentum.’

Jollibee’s shares closed Friday at P155 apiece.

THE Philippine Deposit Insurance Corp. (PDIC) announced it is set to offer for sale 68 properties in Luzon, including three commercial properties, through electronic public bidding, with bid submissions accepted from 9:00 am on September 16, 2026, until 1:00 p.m. on September 17, 2026, and the opening of bids set at 2:00 p.m. on the September 17, 2026.

According to PDIC, the three prime commercial assets are located in Malolos City, Bulacan; Calamba City, Laguna; and Alaminos City, Pangasinan. The property in Malolos City provides access to the city’s commercial and urban centers. On the other hand, the Calamba City property is located along Mayapa-Canlubang Road, a corridor connecting industrial areas such as the Silangan Industrial Park.

Finally, the property in Alaminos City, which is situated along Olongapo-Bugallon Road, provides access to the national highway and connectivity to business hubs in Pangasinan.

The e-bidding will also offer 65 other assets, comprising 34 properties classified as agricultural, 22 properties classified as residential, and 9 properties classified as mixed residential/agricultural. With lot areas ranging from 189 square meters to 3.9 hectares, these properties offer options for individual buyers, developers, agribusiness investors, and commercial enterprises alike. These properties are located in Albay, Aurora, Bataan, Batangas, Benguet, Bulacan, Ilocos Norte, Isabela, Laguna, La Union, Palawan, Pangasinan, Rizal, Tarlac, and Zambales.

Properties are sold on an as-is-where-is basis and as such, bidders are encouraged to perform comprehensive due diligence covering property condition, status, and ownership prior to submitting bids read the statement the PDIC issued last Friday.

vivo Philippines has launched vivo Community, its official online community platform where existing users, prospective buyers, and tech enthusiasts can access product information, join discussions, share photography content, and raise support concerns.

The platform is available through the Community tab in the vivo Store app or directly at bbs.vivo.com/ph, giving users a dedicated channel for information and assistance beyond vivo’s social media pages.

It brings together several sections covering different aspects of the vivo user experience. News and Events will carry product announcements, promotions, and event updates, while Tech and Specs will provide product deep-dives, comparisons, and feature explainers. Shot on vivo will feature user-generated content, photography challenges, and tips.

Users can also participate in discussions through Connect and Discuss, which includes discussion threads, polls, and QandA. Sports and Hoops will cover vivo’s basketball-related activities and sponsorships, while Contest will feature community giveaways and photography competitions.

A dedicated Support section will handle technical support, warranty-related questions, and service center inquiries, with the vivo After Sales Team overseeing these concerns. Other community discussions are open to user participation, with the vivo team responding where needed.

To mark the launch, new members can receive a free-shipping voucher with no minimum spend by signing up for vivo Community and commenting on the official launch community post. Ten lucky commenters will also have a chance to win an exclusive vivo tumbler with custom laser engraving.

To participate, users can sign up through the vivo Store app or at bbs.vivo.com/ph, then comment on the official community post. The free-shipping voucher will be automatically credited to eligible participants and can be viewed through their vivo e-store coupon list.

‘vivo Community gives our users a dedicated place to find useful information, ask questions and share their experiences with other vivo users,’ said vivo Philippines Brand Marketing Director Liu Lu. ‘We want it to be a practical resource that users can return to, whether they are learning about a new feature, looking for support, or simply interested in what other members are doing with their devices.’

The platform is designed primarily for existing vivo device owners across product lines, while also providing a resource for people researching vivo products and for technology and mobile photography enthusiasts.

A membership rewards system is also in development for vivo Community, with more details to be announced soon. Users are encouraged to stay tuned for upcoming community activities, rewards, and other member benefits.

THE Department of Labor and Employment (DOLE) has filed a motion for reconsideration seeking to lift the injunction that halted the P85 minimum wage increase in Metro Manila.

In its motion before Pasig Regional Trial Court Branch 152, DOLE asked the court to dismiss the case for lack of jurisdiction and failure to state a cause of action.

It also sought the denial of the petitioners’ application for a writ of preliminary injunction.

DOLE maintained that the petitioners bypassed the administrative remedies provided under the Labor Code before bringing the dispute to court.

Labor Secretary Francis N. Tolentino said the department is challenging the ruling on several grounds, including the court’s jurisdiction and its treatment of Articles 123 and 126.

‘We filed a motion for reconsideration to strongly challenge the decision of Branch 152,’ Tolentino said.

‘We are basically saying that the court has no jurisdiction, administrative remedies were not exhausted, Article 126 was disregarded, and compliance with Article 123 was not established,’ he added.

Under Article 123, appeals involving regional wage orders are brought before the National Wages and Productivity Commission (NWPC).

Meanwhile, Article 126 prohibits courts, tribunals or other entities from issuing temporary restraining orders or injunctions against proceedings before the NWPC or regional wage boards.

At stake is Wage Order No. NCR-27, which would grant an additional P85 in daily pay to minimum wage earners in Metro Manila.

Around 1.1 million workers were expected to benefit from the increase, which was scheduled to take effect last month before its implementation was stopped by the court.

DOLE said the wage order went through the prescribed tripartite wage-setting process involving labor, employers and government.

Tolentino filed the motion on Monday together with Assistant Solicitor General Jane E. Yu and officials from DOLE and the NWPC.

Implementation of the P85 wage hike remains suspended while the court considers DOLE’s bid to overturn the injunction.

Shell Pilipinas Corp. (SPC) said it posted a net loss of P2.7 billion in the first half, a reversal of last year’s P970-million net income, due to inventory losses, compressed margins, and soft demand.

‘The first half tested the resilience of energy supply chains across the industry. Our priority was clear: keep fuel available, support our customers and trade partners, and help keep the Philippine economy moving,’ said Lorelie Quiambao Osial, president and CEO of Shell Pilipinas.

During the period, the oil firm generated P2.4 billion in free cash flow driven by strong liquidity and supply reliability despite significant market volatility.

‘By leveraging Shell’s global trading and supply network, local infrastructure, and strong customer relationships, we maintained reliable supply through one of the most volatile market environments in recent years.

While these conditions materially affected earnings, improving trends in May and June reinforce our confidence in the resilience of our business as we navigate a still-volatile environment,’ added Osial.

The oil firm said it faced ‘severe’ margin compression and a net loss due to the Middle East conflict-driven oil price volatility and a weak peso. Despite these, Shell Pilipinas said it maintained fuel availability by leveraging its integrated supply chain and active government coordination.

While high prices caused a 4 percent decline in mobility volumes, commercial fuels saw a 4-percent growth, while lubricants provided stable earnings.

‘As we move into the second half, our focus is to restore profitability, strengthen cash generation, and further improve Shell Pilipinas’ competitiveness. The actions we have taken position us to continue serving the country’s energy needs while creating long-term value for our shareholders,’ Osial added.

Last March, SPC said its net income soared by 69 percent year-on-year to P2.1 billion in 2025 due to higher sales. Its core earnings jumped 28 percent year-on-year to P3.3 billion.

The country’s second largest oil firm also ended 2025 with a free cash flow of P2.1 billion, reversing the P1.6-billion deficit it recorded in the previous year.

Income from operations also went up to P6.46 billion from P6 billion.

SPC’s fuels business delivered a 2-percent volume growth for the full year, supported by stronger contributions from B2B and commercial segments, a ‘healthier’ product mix, and ‘more efficient’ supply chain.

ONLY around 30 to 35 percent of priorities identified by Regional Development Councils (RDCs) are eventually reflected in the General Appropriations Act (GAA), according to the Department of Economy, Planning, and Development (DepDev).

Socioeconomic Planning Secretary Arsenio M. Balisacan said the share remains low as the government seeks to better connect regional investment priorities with the national budget process.

‘Of the RDC priorities identified at the various regional levels, of those priorities, about 30 to 35 percent [are] reflected in the GAA… so it’s a bit low,’ Balisacan said on Monday.

He said raising the proportion to around 66 percent would already represent a ‘major improvement.’

The issue was raised during the Development Budget Coordination Committee (DBCC) briefing amid questions over how projects endorsed through the local and regional planning process are eventually selected for inclusion in the National Expenditure Program (NEP).

Budget Secretary Kim Robert C. de Leon said that under the proposed 2027 budget, expenditure ceilings are currently set only at the department or agency level.

This means agency central offices determine which projects are ultimately included in their proposals submitted to the Department of Budget and Management (DBM), even after projects have gone through the RDC process.

RDCs are tasked with reviewing and endorsing priority programs and projects in their respective regions.

De Leon said RDCs are required to accomplish Budget Form C to establish that proposals submitted for consideration have gone through regional vetting.

He acknowledged, however, that completing the requirement alone does not ensure that projects eventually included in the NEP are aligned with priorities identified at the regional level.

DBM and DepDev are now working to improve the linkage between investment programming and budget preparation, including by harmonizing their respective calendars and submission portals.

De Leon said one option under consideration is to issue agency budget ceilings earlier in the process.

If implemented, agency central offices could use the ceilings to provide RDCs with indicative amounts that may be allocated to each region before budget proposals are finalized.

This could give regional councils a clearer idea of the amount available when identifying and prioritizing projects for inclusion in agency submissions.

The proposed changes are among the measures being considered for succeeding budget cycles as DepDev and DBM seek to increase the share of regional priorities reflected in the national budget.

ABS-CBN Corp. saw its net loss more than double in the first semester, as the absence of election-related advertising, weaker consumer sentiment, and a thinner slate of films and live events dragged down revenues.

The listed media conglomerate reported a consolidated net loss of P1.83 billion for the January-to-June period, wider than the P852-million loss it booked in the same period last year.

Consolidated revenues fell 17 percent to P6.88 billion, with the company attributing most of the drop to its cable TV and broadband businesses. Its core content production and distribution segment generated P5.76 billion in revenues, 9 percent lower year-on-year, as the comparable 2025 period benefited from political advertising tied to the midterm elections. The company said global developments this year have also weighed on consumer sentiment and the domestic economy.

Excluding political advertising and one-off items in both years, the segment’s recurring net loss narrowed by 1 percent, while recurring earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 2 percent.

The first half of 2025 was likewise boosted by BINI’s sold-out concert at the Philippine Arena and the box-office performance of ‘My Love Will Make You Disappear,’ events that had no equivalent this year. ABS-CBN said the decline was partly offset by higher consumer sales and growth in international syndication and co-productions.

Consolidated operating expenses improved by 5 percent, or P482 million, to P8.46 billion.

The company expects revenues to recover in the second half.

Last week, ABS-CBN announced that it is raising P6 billion in new equity from members of the Lopez family and a private investment firm, fresh capital meant to shore up a balance sheet battered by six years of losses since the network went off free television.

Crème Investment Corp., Mantes Corp., and Presta Holdings Company Inc.-representing three branches of the Lopez family-committed to subscribe to a combined P2.2 billion worth of ABS-CBN shares using personal resources. IandC Holdings Corp., a 100-percent Philippine-owned private investment holding company, will take the largest tranche at P3.5 billion, while Lopez Inc. will subscribe to an additional P300 million.

Proceeds will strengthen the company’s balance sheet and fund its transformation into a content-led media and entertainment business. The investments are subject to definitive agreements and regulatory requirements.

The infusion is ABS-CBN’s biggest capital event since Congress rejected its franchise renewal in 2020.

MINDORO Island is gearing to transition to renewable energy, starting with the town of Mansalay, Oriental Mindoro, to champion accessible and affordable electricity for the people of Mindoro.

Mindoro Island is shared by two adjoining provinces-Oriental and Occidental Mindoro.

To jumpstart its transition to renewable energy, various groups spearheaded by the Renew Mindoro will hold a caravan in Mansalay, Oriental Mindoro in collaboration with environmental advocates, the Church, civil society, financing institutions, renewable energy suppliers, and local government, towards solarizing vulnerable communities in Mindoro.

The event on September 5 at the Mansalay Municipal Gymnasium involves key solar power suppliers and private financing institutions. REnew Mindoro said the caravan will provide opportunities to engage with solar power providers and to engage with financiers.

‘Mindoro’s communities are vulnerable to [expensive] and unreliable electricity because of their dependence on diesel, which accounts for the vast majority of energy capacity in the island. The Department of Energy (DOE) indicates that the island has renewable energy potential at 343 MW, but our study with Climate Analytics shows a potential of 1,140MW for rooftop solar power alone. That potential for renewables must be maximized, because solar is the most practical and affordable alternative for powering Mindoro,’ said Gerry Arances, Executive Director for the Center for Energy, Ecology, and Development (CEED).

REnew Mindoro is pushing for the declaration of Mansalay as potentially the first ‘renewable energy municipality’ in the province.

Mansalay is poised to be the frontrunner for the island province’s energy transition, with REnew Mindoro noting that it will be the role model for other municipalities to make the shift.

‘Mansalay is only the beginning, with the Parish of St. Catherine of Alexandria using a solar power system since March. Parishes across the island are also switching to solar under our Diocesan Energy Transition Roadmap. The Church has been steadfast in strengthening the momentum to protect Mindoro’s ecology and to ensure affordable, clean, and democratized energy for all, especially the vulnerable and indigenous communities across the island,’ said Bishop Moises Cuevas of the Diocese of Calapan.

REnew Mindoro said their push for renewables shall likewise promote the protection of local wildlife and ecosystems surrounding the province.

‘By switching to solar and ridding our diesel dependence, we let go of expensive and dirty electricity. The Verde Island Passage [VIP] has endured all manner of pollution spewed by fossil fuel use. When we transition to renewables, we thus protect the marine wildlife and the coastal communities that consider the VIP as their home and livelihood,’ said Rev. Fr. Edwin Gariguez, Lead Convenor of Protect Verde Island Passage (Protect VIP).

To further strengthen Mindoro’s switch to renewables, the Mansalay local government unit (LGU) has committed to solarizing the municipal complex, public markets, the fishing port, and barangay halls. Their contributions shall showcase to the public and to other LGUs that renewable energy equates to lower costs, reliable electricity, and better public service delivery.

MARK ‘MAGNIFICO’ MAGSAYO squares off with American Andres Cortes in a lightweight clash under the Ryan Garcia-Conor Benn World Boxing Council (WBC) welterweight title fight on September 12 at the T-Mobile Arena in Las Vegas, Nevada.

The 31-year-old former World Boxing Council (WBC) featherweight champion told the BusinessMirror that he has researched his opponent deep enough to get a win and a possible world title shot and the Zuffa lightweight crown.

‘I am really expecting this to happen after my last victory against Feargal McCrory,’ Magsayo, 29, said. ‘But this fight is so crucial because I really want to have a chance at the Zuffa belt and I and we do not expect this fight to be so easy.’

The Zuffa Boxing belt is a proprietary championship title introduced by Dana White and Turki Alalshikh-it rejects traditional boxing sanctioning bodies in favor of a streamlined, UFC-style promotional hierarchy where champions advance to fight for the Ring Magazine belt.

Cortes packs a 25-0 record with 13 knockouts and relies on great timing and spectacular footwork although he lacks world championship experience unlike Magsayo.

Magsayo-29-2 won-lost with 19 knockouts-has been chasing world titles in the featherweight and super featherweight divisions but found his groove in his lightweight debut that resulted to a fifth-round technical knockout against Ireland’s Feargal McCrory last April 5 in Las Vegas.

International matchmaker Sean Gibbons said Magsayo could be back in the world title picture if Magsayo wins. Josef Ramos

‘Mark Magsayo has impressed Zuffa promotions last fight and gave this opportunity for him. I believe he would continue fighting at his best to get a world title shot again,’ Gibbons said.

Magsayo-trained by Marvin Somodio-and wife Frances established the Magsayo Foundation to provide scholarships for kids both in the US and the Philippines.