Category: Business Mirror

Sun Life Grepa Financial Inc. (Sun Life Grepa), one of the country’s leading life insurance providers, was named as one of HR Asia’s Best Companies to Work for in Asia 2026. This recognition underscores the company’s commitment to talent development, employee engagement, and creating an environment that acknowledges the contributions of its people.

‘This award is a shared achievement of the company and its employees, whose dedication and commitment demonstrate Sun Life Grepa’s values and culture in their everyday work’ said Richard S. Lim, President of Sun Life Grepa.

A current four-time awardee of Great Place to Work, the company continues to empower its employees through robust employee programs focusing on growth and development, well-being, and culture-building.

By fostering an environment where employees are encouraged to unleash their brightest selves, Sun Life Grepa strengthens its ability to advance its core mission of helping Filipinos achieve lifetime financial security and live healthier lives.

This recognition is also the third HR award received by the company this year, contributing to the company’s continuing journey to become an employer of choice in the Philippine insurance industry and affirms its continued efforts in building a workplace environment where everyone is valued, supported, and inspired to succeed.

The HR Asia Awards is one of the prestigious award-giving bodies in the region. Nominees need to go through evaluation process that requires employee engagement surveys and presentations. It recognizes companies with best-in-class HR practices and demonstrates high levels of employee engagement and excellent workplace culture.

TRAVELING is a joy for most people, except perhaps the packing and unpacking of the luggage part.

Despite the higher jet fuel costs that result into higher airfares, people apparently are still touring the country or going abroad. According to the latest press statement from Cebu Pacific Airways, it flew 15.7 million passengers on its domestic routes from January to August this year, up 5.5 percent from the same period last year.

But even before most of us get to our destinations, like it or not, there may be complaints and issues that arise in the course of our trip. From the passenger services such as the check-in and bag inspections, to the exchanges with Immigration officers, or even the kind of food served at the restaurants at the terminals.

Try as I might, I don’t remember a trip, domestic or international, that transpired without a hiccup.

Now, I recently read about Cardinal Pablo Virgilio David criticizing the flag carrier Philippine Airlines (PAL) for its ‘cramped legroom’ on his recent trips to and from Cebu. And with this discomfort experienced, he wondered whatever happened to the ‘Heart of the Filipino’ slogan of the carrier.

I get the good Cardinal’s points. He is a tall man, close to 6 feet, and needs enough legroom for his rather long frame. And apparently he suffers from osteoarthritis that gives his knees some trouble.

Perhaps the Cardinal isn’t a frequent traveler, so he didn’t know that most carriers, regardless of the brand, have less legroom these days. All of them are suffering from reduced profits that, yes, they try to squeeze in more people per inch of the plane, to get better economies of scale per trip.

This isn’t necessarily a bad thing. A profitable airline ensures they continue servicing their routes here and abroad. Otherwise, we’ll all be stuck on road trips or traveling by sea, which may be cheaper, but are much longer routes to other destinations in the country.

That is why I always ask for premium seating, and am willing to pay for it. ‘Aisle seat, exit row’ is my preferred location on the plane, not because I’m tall, but because I acknowledge my aging existence and like to stretch out comfortably on the plane.

(The Cardinal is actually fortunate that he didn’t choose a certain carrier that absolutely prohibits seniors to sit in an exit row, even if they are still able-bodied. Its booking page will automatically remove those seat choices, because it already has registered the senior’s birth date.)

So in the future, Cardinal Ambo’s assistant should book him an aisle, exit-row seat, or a front-row seat. Better yet, the Cardinal deserves the Business Class section; next time, his assistant should encourage him to book a seat there so he can travel comfortably.

On the other hand, PAL may have missed a great marketing opportunity in this situation. Its flight crew could have offered a Business Class seat to the Cardinal as a gesture of goodwill on his flights, if the exit rows were unavailable. Surely, the Heart of the Filipino is best served with the Comfort of a Higher Power.

In a related development, an American travel blogger, Tomiko Harvey, narrated a trip from hell. As per her post on social media, she said the female passenger beside her asked if she (Harvey) could switch seats with her husband, so that her husband could sit beside her.

And of course, Harvey said ‘no’, which led to the female passenger crying and sobbing the entire 10-hour flight because she couldn’t ‘lay her head on his shoulder.’ Harvey hilariously captured this sobbing on video, hour on the hour, and posted it on social media.

By the way, the woman’s husband was seated just a few rows ahead, but in the uncomfortable middle seat, a reason Harvey didn’t want to give up her own aisle seat. In addition, Harvey noted the husband didn’t seem to care about the seating situation, as he had his headphones on and slept peacefully.

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Which has led many to suspect that the husband actually paid for those tickets, and was chill with the separate seats. Besides, who would want to sit beside that kind of crazy-wife or otherwise-for 10 hours anyway? Certainly not Harvey.

Sure, there were a handful who commented that Harvey was rude. But unsurprisingly, there were more people who supported Harvey staying in her seat. I too thought she rightly stayed put, especially if she paid for her seat.

That’s why it’s annoying to read about these emotional upsets by families, who all want to fly together, but are not willing to pay to sit together. They end up bothering other passengers to switch seats, and then complain loudly on the flight, or later through social media, that they felt their needs were disregarded.

In the first place, if you are flying with small children, then it’s wise to book seats together. Yes, it may cost more to do so, but why are you scrimping on your child, whom you obviously care enough to bring on your trip?

In my family’s case, we try to book separate flights, and if we are on the same flight, we usually won’t sit together, except in the case of certain family members, who have to sit with their small children. It’s mainly safety consideration. God forbid the plane crashes and we’re all in it-that means the wipeout of the entire family, right?

And if we are on the same flight, seating in different sections of the plane may ensure more of us survive the crash. It’s just practical and the smarter way to travel.

So, getting that part of the trip down pat, i.e., the flight, will ensure less stress and arriving at our destination in a better frame of mind.

DEFENSE Secretary Gilberto Teodoro Jr. on Thursday accused China of meddling in Philippine politics as internal divisions among Filipinos widen.

‘They accused me of personal political motives. They are interfering in our politics-this is no longer diplomacy. They are wading into Philippine internal affairs, and this should not pass,’ Teodoro said in a radio interview.

Asked if China was attempting to divide and conquer, Teodoro replied, ‘definitely.’

‘De-escalation will happen if Filipinos stand united against them. It is obvious they are fooling and dividing us. The escalation does not come from us-we are simply stating facts against them,’ he added.

Chinese Ambassador Jing Quan has drawn sharp criticism after claiming last week that China would win ‘easily’ if it used force in the West Philippine Sea, though he maintained Beijing would not do so. While several government officials defended Jing-including Sen. Robinhood Padilla, who called the envoy a gentleman.

‘That is Senator Robin’s opinion, but the majority disagrees,’ Teodoro said.

Lawmakers from both houses of Congress have filed resolutions urging President Marcos Jr. to declare Jing persona non grata. In response, the Chinese Embassy targeted several Filipino personalities and went so far as to ‘ban’ the House lawmakers behind the resolution from entering China.

Teodoro noted that while Jing’s conduct is unacceptable, President Marcos must weigh multiple factors before deciding on expulsion, noting that the envoy merely acts on instructions from Beijing.

‘Even if you replace him, what is the point if his successor does the exact same thing? The real solution is to halt their actions and clarify that there are limits to what they can do here. It is not about the individual,’ Teodoro explained.

Malacañan previously said that Marcos is not inclined to expel Jing, emphasizing that this decision does not mean the Philippines is relinquishing its claims in the West Philippine Sea.

THE restrictive guardrails set by the Supreme Court on the utilization of unprogrammed funds in the last three years on its new ruling-which the Marcos administration will appeal-can derail the implementation of some provisions of the 2026 General Appropriations Act (GAA).

This is the view of the Office of the Solicitor General (OSG) which, however, allayed concerns that the ruling will paralyze the operations of the government since it will still exempt some provisions of the national budget this year.

Solicitor General Darlene Marie B. Berberabe is set to meet with the Department of Budget and Management (DBM) next Monday to determine which programs of the Marcos administration will be affected by the ruling.

‘Our advice to the DBM and the executive branch is to adopt a ‘wait-and-see’ approach for now, especially since a decision on this [motion for reconsideration] is expected to be reached soon,’ Berberabe said in a press briefing in Malacañang on Thursday.

OSG is targeting to submit its motion for reconsideration on the Supreme Court (SC) ruling before 4 November 2026.

Unprogrammed appropriations

Under its new ruling announced Tuesday, the High Court declared unconstitutional the Special Provisions 1(a) and (b), Chapter XLIII of the 2026 GAA which authorizes unprogrammed appropriations.

Also flagged as unconstitutional were the 2024 and the 2025 GAAs, which were passed by Congress with a higher amount than the President’s proposed budget due to unprogrammed appropriations.

Programmed appropriations are items in the national budget with definite sources of funds, while unprogrammed appropriations are items, which can be funded if the government is able to secure excess revenue.

OSG pointed out that there were similar cases wherein the approved GAA was higher than the National Expenditure Program endorsed by the President in 2000, 2004, 2008, 2010, and 2022.

Exempted provisions

Berberabe said based on her initial discussion with DBM Secretary Kim Robert C. De Leon on the matter last Wednesday, several provisions of the 2026 GAA will require guidance from the SC to be utilized.

However, she noted the SC decision will not cover ongoing programs, which were started before the new ruling was released.

‘Unless it is explicitly stated that a specific [budget provision] must be stopped, then that is what should be discontinued. However, regarding other matters…which fall outside the scope of the decision, those certain activities will be implemented,’ Berberabe said.

‘So, our main concern is ensuring that the impact on the execution of projects-up until December-does not become too significant,’ she added.

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The government’s top lawyer said their motion for reconsideration will focus on the guardrail set by the Supreme Court that unprogrammed appropriations can be funded only if the government will exceed its target overall revenues.

The OSG said it contradicted the rules implemented by Congress, which allowed the release of funds for unprogrammed appropriations in case the government exceeds its target revenue collection from non-tax sources.

It maintained that it is Congress’ rules which should be followed, since it has the power of the purse allowing it to determine the form, content and manner of preparation of the budget through legislation under the Constitution.

Judicial overreach

When asked if there might be judicial overreach in the SC ruling, Berberabe answered in the affirmative and said they will include it in their motion for reconsideration.

‘In effect, the Supreme Court interpreted a provision of law within the GAA, not a constitutional provision,’ she said.

‘Regarding the OSG’s position on the case, we are simply operating within the constitutional framework-specifically, the principle of the separation of powers,’ she added.

Last Wednesday, Palace Press Officer Claire Castro stressed the importance of the Supreme Court amend its guardrails since its current version severely restricts the government from using unprogrammed appropriations in the 2027 GAA and the national budget in succeeding years.

OSG, however, noted it agrees with the other provisions of the new SC ruling particularly in prohibiting the ‘Strengthening Assistance for Government Infrastructure and Social Programs (SAGIP)’ item of the 2024 and 2025 GAA, which were removed from the national budget this year.

‘The executive branch and Congress have already anticipated many of the guardrails mentioned in the Supreme Court decision,’ Berberabe said.

WHAT if the biggest barrier to a country’s MICE success is not a lack of resources, but a lack of alignment between government and industry?

This question stayed with me after a panel discussion on ‘Goyang Destination Week’ (GDW) 2026 in Goyang, South Korea, where I represented the Philippine Council of Associations and Association Executives (PCAAE) as its founding president. Guided by the theme, ‘Linking Government and Industry Support for MICE Success,’ the session examined how government and industry can work together to make meetings, incentive travel, conferences, and exhibitions (MICE) more successful.

Joining me on the panel were Peter Lee, executive director of the Goyang Convention and Visitors Bureau (CVB), and GainingEdge’s Gary Grimmer and Thomas Reiser. During the session, moderated by Gary, I was asked how we could build a stronger and more strategic working relationship between government and the MICE industry.

My answer was one word: ‘Align.’

It is more than a convenient acronym. It is a practical framework for rethinking how government and industry can work together to create lasting economic and social value:

A: Agree on a national MICE agenda. Government and industry must first agree on what MICE success looks like. Is it simply the number of events hosted and visitors welcomed? Or should success also include investments attracted, businesses supported, jobs created, knowledge exchanged, and communities that benefit? A shared agenda gives everyone a common destination and a clearer basis for measuring progress.

L: Link MICE to broader government priorities. MICE should not be treated solely as a tourism concern. Its value extends to trade, investment, infrastructure, education, innovation, employment, sustainability, and regional development. When MICE is connected to these wider priorities, it becomes easier to build cross-government support and demonstrate why business events deserve strategic attention.

I: Institutionalize public-private dialogue. Partnerships cannot depend solely on personal relationships or occasional meetings. Government and industry need regular platforms for consultation, collaboration, and problem-solving, not just when a major event is being bid for or a crisis demands urgent action. Consistent dialogue builds trust, encourages continuity, and allows both sides to anticipate challenges rather than merely react to them.

G: Generate and share better data. Good intentions are not enough; decisions need evidence. Government needs credible data on MICE’s economic contribution and broader impact, while industry needs reliable information to make a compelling case for investment and policy support. Better data helps both sides set priorities, justify resources, and evaluate results.

N: Navigate from support to strategic partnership. Government should not be seen merely as a source of funding, permits, and approvals. Neither should industry be viewed simply as a beneficiary of public assistance. Each brings distinct resources, expertise, networks, and capabilities to the table. The opportunity is to move beyond transactions toward a relationship built on shared goals, mutual accountability, and measurable outcomes.

These five principles point to a larger lesson: the future of MICE will not be built by government alone, nor by industry alone. It will be built when both sit on the same side of the table, defining problems together, designing solutions together, and measuring results together.

This, for me, is what a mature MICE ecosystem should look like. And it is how we move beyond hosting successful events toward creating a meaningful legacy for people, businesses, and regions.

When government and industry ‘Align,’ MICE becomes more than an event business. It becomes an instrument of national and regional development.

Octavio Peralta is founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the ‘association of associations.’ The PCAAE will hold its 14th Annual Associations Summit (AS14) on November 24, 2026 at the Asian Institute of Management. The views he expressed herein do not necessarily reflect those of the BusinessMirror. E-mail bobby@pcaae.org

Incentives offered by the government may help accelerate the growth of electric vehicle (EV) manufacturing, but Toyota Motor Philippines Corp. (TMP) said local suppliers must first be ready to deliver cost-efficient and quality parts that would enable auto makers to benefit from the EV shift.

At the 27th Toyota Special Economic Zone (TSEZ) Update Meeting with the Philippine Economic Zone Authority (Peza), the government’s Electric Vehicle Incentive Strategy (Evis) was identified by TMP and Toyota Group suppliers as a potential source of business for domestic manufacturers, provided they can meet the demands of the EV supply chain.

TMP said the Philippines needs to strengthen local supplier capabilities as the government pursues a dual strategy of sustaining conventional vehicle manufacturing while building capacity for EVs and their components.

The company said local manufacturers must be equipped to supply auto makers competitively and participate in regional and global value chains, underscoring that incentives alone would not be enough to bring them into the EV industry.

TMP also reiterated its willingness to participate in the Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) program, pending the government’s completion of a joint administrative order and implementing guidelines.

The company intends to register its locally manufactured Tamaraw under the program.

CARS commitments

Alongside efforts to prepare suppliers for EV production, TMP said there is a need for government to fulfill existing commitments under the Comprehensive Automotive Resurgence Strategy (CARS) program, which supports local vehicle assembly and parts manufacturing.

The CARS program supports local vehicle assembly and parts manufacturing.

Last August, Trade Secretary Ma. Cristina A. Roque said the government had released more than P4 billion in payments owed under the program to participating auto makers and small and medium-sized parts manufacturers.

The statement followed questions during congressional budget deliberations about a reported P1.5-billion government obligation to TMP.

TMP, however, did not specify which outstanding commitments it was referring to during the recent meeting.

Meanwhile, Toyota Group export suppliers are projected to generate $1.06 billion in export sales in 2026, down slightly from the $1.09 billion recorded in 2025, amid softer demand and global trade uncertainties.

Peza said Toyota’s 13 export suppliers have generated more than P34 billion in cumulative investments and created over 45,000 direct jobs. Five companies operating within the TSEZ employ more than 7,000 Filipinos.

Toyota Group companies and zone locators also raised operational concerns involving customs processing, electricity costs, regulatory requirements and tax assessments.

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They called for continued coordination between Peza and other government agencies to address these issues and sustain a competitive environment for manufacturers.

Iread a post from Filipino-Chinese restaurant owners group asking if their fellow restaurant owners are experiencing the slowing down of sales despite the onset of the ‘ber’ months. Last Sunday, I observed it myself when I went to a popular mall at lunchtime to find a restaurant totally empty as if I have reserved it for myself. What is happening to the Philippine economy?

Based on observable and recently available data, the Philippine economy is not collapsing. But neither is it delivering. The phrase that best captures our condition is ‘just getting by.’ Businesses remain open, overseas workers continue sending money, and families find ways to stretch their budgets. However, surviving another month is not the same as moving forward.

The numbers are reflecting this reality: GDP growth slowed from 2.8 percent in the first quarter to 2.3 percent in the second quarter of 2026 and most likely continued at this level for the rest of the year. Household consumption grew just 2.8 percent, while capital formation fell 9.2 percent. These are challenging signals which are saying that consumers are cautious and investment is retreating.

Meanwhile, inflation reached 7.2 percent in September, with rice prices rising 20.3 percent from a year earlier. For the poorest 30 percent of households, inflation was an even harsher 9 percent. Unemployment stood at 5.3 percent in August, representing 2.77 million people, while nearly 5.9 million workers are underemployed. These are describing the difficult choices that households need to make between day-to-day groceries, transport, medicines and school expenses.

While this is not stagflation, the country faces an uncomfortable combination of weak growth and high inflation. The average estimate shows that full growth for 2026 will only be 3 percent.

How to break this ‘getting by situation’ requires key policy actions some of which are already being done but needs more emphasis, effort, and proper communication sans politics by the government.

First, make food affordability the immediate economic priority. Rice is both an economic staple and a political barometer. Announcing lower prices is easier than ensuring that rice reaches markets at those prices. More actions are needed to make this happen, such as publishing transparent weekly information on stocks, farmgate prices, imports and retail margins.

Second, cushion the energy shock through an institutionalized, systematic, time-bound, properly targeted assistance to public transport operators, farmers and low-income commuters not a reactive response optics. A government assisted accelerated renewable energy connections devoid of red-tape can reshape household energy behaviors.

Third, restart credible public investment. Reviews of questionable infrastructure contracts are necessary, particularly after the flood-control controversy. But indefinitely freezing legitimate projects also destroys jobs and delays critical government infrastructure particularly with the onset of El Nino. It must be clear to government that accountability and economic recovery are not competing goals.

Fourth, protect the remaining fiscal space. The deficit had reached about P1.05 trillion by August, while outstanding national government debt stood near P19.61 trillion. Borrowing is not inherently irresponsible, but it must be for projects that work. The 2027 budget should distinguish high-impact investments from politically attractive but unproductive spending. Cutting waste and improving tax administration should precede new promises of blanket subsidies.

These steps can help ease today’s pressure. But other choices, postponed again and again, could become decisive in the 2028 elections. Medium term policy should focus on the following: job quality-a still expanding labor force cannot depend indefinitely on low-productivity services, informal work and overseas employment. We need a credible investment pipeline in manufacturing, agribusiness, logistics and tradable digital services, supported by dependable power, faster permits and practical skills training. Investment approvals must be judged by factories built and decent jobs created, not announcements.

Second, address learning losses, weak foundational skills and mismatches between training and available jobs compound over years. They cannot be corrected by a campaign slogan in 2028. Measurable improvements in reading, numeracy, technical education and employer-linked apprenticeships must begin now.

Third, repeated floods, droughts and rising temperatures are no longer exceptional disruptions. With El Niño, agriculture, water management and disaster preparation require sustained investment, not emergency spending after each calamity.

Finally, there is trust. Corruption allegations surrounding infrastructure damage more than the government’s reputation. There is erosion of taxpayer willingness, discourage investors and make public spending less effective. Institutionalizing transparent procurement, credible prosecutions and visible project completion are economic reforms, not merely political housekeeping.

Beyond the current political and security stresses, the 2028 election should answer this question: did everyday life become more affordable, secure and hopeful? Voters will look at wages after inflation, job opportunities for their children, electricity bills, commute times and whether taxes produced real services.

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The Philippines still has capable workers, entrepreneurs and considerable economic potential. But potential is not performance. The current administration has less than two years to show that it can move beyond crisis management toward disciplined execution. ‘Just getting by’ may describe the economy today. It must not become the country’s permanent ambition.

ACERD will hold its year-end Economic Briefing entitled Navigating 2027 on December 3, 2026 at the Ateneo Rockwell Campus featuring speakers from government, bank, think tank, multilateral and academe. For more details, please check – https://www.facebook.com/admueaglewatch.

THE chairman of the Bank of the Philippine Islands (BPI) has expressed ‘excitement’ over the leadership of Maria Cristina ‘Ginbee’ L. Go as the lender’s next President and CEO succeeding Jose Teodoro K. Limcaoco by late-April next year.

‘I am excited for the new prospects ahead under Ginbee’s stewardship,’ BPI Chairman Jaime Augusto Zobel de Ayala said in a statement last Thursday. ‘Amidst some volatility in the global and domestic environment, there are notable opportunities, particularly as the Filipino consumer sector grows, becomes more sophisticated, and seeks a trusted partner in achieving financial stability and success.’

Go, a 23-year BPI veteran, currently leads the Ayala-led bank’s consumer banking business.

According to the BPI, she previously served as President of BPI Family Savings Bank, where she successfully led the institution’s transformation and integration into BPI.

Prior to joining BPI, Go held leadership positions at Citibank’s Manila branch, Ayala Land Inc., and Procter and Gamble Philippines Inc.

A Certified Public Accountant, she graduated magna cum laude from the University of the Philippines-Diliman campus, placed first in the 1991 CPA licensure examination, and earned her MBA with honors from the Harvard Business School.

She currently serves on the boards of TransUnion Information Solutions Inc. and BPI subsidiaries Ayala Foundation Inc., BPI Direct BanKo Inc. and BPI MS Insurance Corp.

‘Throughout her career, Go has played a pivotal role in modernizing BPI’s consumer banking franchise, deepening customer relationships, expanding the bank’s retail footprint, and strengthening the integration of physical and digital banking capabilities,’ the bank said.

The lender added that it was able to ‘strengthen its market position across key products, expanded its customer base, enhanced customer experience, modernized BPI’s nationwide distribution network, and accelerated digital innovation, including the adoption of artificial intelligence-enabled capabilities’ under Go’s leadership of BPI’s consumer banking business.

Net income

THE day the lender announced leadership changes was also the day it reported a net income of P48.9 billion in the first nine months of the year.

In a separate statement BPI issued also last Thursday, the lender said total revenues for the first nine months reached P156.3 billion, up 9.8 percent year-on-year.

Meanwhile, net interest income increased by 11 percent to P121.1 billion, driven by a 10.7 percent increase in the average earning asset base and a resilient net interest margin of 4.6 percent.

Non-interest income grew to P35.2 billion, up 5.8 percent, bolstered by strong fee income, up 15.5 percent on higher contributions from credit cards, wealth management and insurance.

Operating expenses increased 12.5 percent year-on-year to P73.7 billion, driven by manpower, technology, and business volume-related costs, leading to a cost-to-income ratio of 47.1 percent.

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The bank said it booked provisions of P19.9 billion, up 69.2 percent from the previous year, while third quarter provisioning eased 16.5 percent from the preceding quarter.

Asset quality saw ‘modest changes’ with the [non-performing loans] NPL ratio rising quarter-on-quarter to 2.50 percent, BPI’s statement read.

It added that its return on equity was 13.6 percent and return on assets was 1.8 percent.

The bank said it continued to maintain ‘adequate’ reserves for ‘expected credit losses,’ resulting in an NPL coverage ratio of 89.6 percent.

Total assets stood at P3.9 trillion, up 10.8 percent year-on-year, according to the country’s second-largest commercial bank in terms of assets. Total loans expanded 13.6 percent year-on-year to P2.7 trillion on sustained lending momentum across all customer segments.

Institutional loans rose by 11.3 percent while non-institutional loans expanded by 18.9 percent. The latter growth was led by SMEs (up 46.7 percent), credit cards (up 27.2 percent) and personal loans (up 21.7 percent).

Total deposits grew 11 percent year-on-year to P3 trillion, with the loan-to-deposit ratio at 92.4 percent. Total equity stood at P488.6 billion, up 2.9 percent year-on-year, with an indicative Common Equity Tier 1 Ratio of 13.9 percent while the capital adequacy ratio remained stable at 14.7 percent.

Both are well above regulatory requirements, BPI said.

From an Olympic silver medal in Tokyo to a bronze in Paris, Nesthy Petecio has established herself as one of the most accomplished boxers in Philippine sports history. She now begins a new journey as an ArenaPlus ambassador.

Petecio joins a growing roster of ArenaPlus ambassadors that includes NBA legend Derrick Rose, PBA star Scottie Thompson, and professional golfer Miguel Tabuena, bringing her own brand of determination and championship pedigree to the family.

For Petecio, the partnership with ArenaPlus, the No. 1 PAGCOR-licensed online sportsbook in the Philippines, is an opportunity to connect with more Filipinos and inspire the next generation of athletes.

‘Unang-una po, nagpapasalamat ako sa ArenaPlus sa tiwala at sa opportunity na maging bahagi ng kanilang pamilya. Bilang isang atleta, malaking bagay po sa amin kapag may mga brands na naniniwala at sumusuporta sa mga Pilipinong atleta. Kasi hindi lang naman po medalya at panalo yung importante. Malaking bagay din yung malaman mong may mga taong naniniwala sa kakayahan mo at sa pinaghirapan mo,’ said Petecio.

‘Kaya excited din po ako sa partnership na ito, at sana, sa pamamagitan nito, mas marami pa tayong ma-inspire na mga Pilipino, lalo na yung mga kabataang may pangarap sa sports. Maraming salamat po sa ArenaPlus sa pagtitiwala.’

Petecio’s journey to Olympic success was far from easy.

Growing up in poverty in Davao del Sur, she and her siblings collected chicken droppings to sell as fertilizer to help their family make ends meet. She also joined inter-barangay competitions, where participants were given meals regardless of whether they won or lost.

What began as a way to help her family survive eventually became her path to a better future. Despite the hardships and challenges she faced, Petecio persevered, fighting her way from local competitions to the world’s biggest sporting stage.

She went on to win gold at the 2019 AIBA Women’s World Championships before making history at the Tokyo 2020 Olympics, where she captured silver in the women’s featherweight division. At Paris 2024, she added a bronze medal, becoming the first Filipino boxer to win multiple Olympic medals.

Beyond her achievements on the world stage, Petecio also claimed gold medals at the Southeast Asian Games in 2019 and 2023.

‘We’re proud to welcome Nesthy to the ArenaPlus family. What makes her story so inspiring isn’t just the medals she’s won, but everything she had to overcome to get there,’ said Ethan William, Head of ArenaPlus, professionally known as Layson.

‘She came from humble beginnings, fought through setbacks, and never gave up on her dream. Today, she’s a two-time Olympic medalist who has made the entire country proud. We want to celebrate that kind of determination and inspire more Filipinos to believe that, no matter where they come from, their dreams are worth pursuing.’

Through its growing roster of ambassadors, ArenaPlus continues to build connections with Filipino sports fans and celebrate athletes whose achievements inspire the nation.

The Power Sector Assets and Liabilities Management Corp. (PSALM) has declared a failed bidding for its prime property in Diliman, Quezon City.

The state firm received no offers during the bidding held last October 20, according to PSALM President Dennis Edward Dela Serna. ‘The three bidders who initially showed interest did not appear.’

PSALM will conduct another bidding, added Dela Serna.

The minimum bid price for the property is P11.09 billion. It consists of two lots covered by Title No. N-326294, with a total land area of 51,948 square meters. Of the property’s total 51,948-square-meter land area, an estimated 12,250 square meters have been excluded from the sale, leaving a net salable area of 39,698 square meters, together with the buildings, structures, and improvements located within such area.

The excluded areas include an estimated 5,000 square meters reserved for PSALM’s use and around 7,250 square meters occupied by the Systems Operation (SO) and National Control Center (NCC) facilities. Under its existing agreement with PSALM, the National Grid Corporation of the Philippines (NGCP) will continue using the NCC and SO buildings for transmission operations until January 15, 2034.

The bidding is open to qualified individuals, sole proprietors, cooperatives, corporations, partnerships, joint ventures, consortiums, government-owned entities, and local government units authorized to acquire and develop real property in the Philippines.

Private entities must be at least 60 percent Filipino-owned.

PSALM is in charge of liquidating the National Power Corp.’s (NPC) financial obligations, including stranded debts and stranded contract costs, by implementing an efficient liability management program that conforms to the provisions of Republic Act 9136, or the Electric Power Industry Reform Act.

Last June, the state-run firm said its financial obligations at end-March this year went up to P297.64 billion from P260.6 billion at end-2025.

The 13-percent increase, according to Dela Serna, was primarily due to a P37-billion draw down in February in preparation for debt servicing requirements, particularly principal payments due in May and June amounting to approximately P168 billion.

Moreover, foreign exchange rate adjustments also contributed to the rise in the outstanding balance. ‘These factors temporarily elevated the reported debt level,’ said Dela Serna.