Category: Philippine Star

The Trade and Industry department said the initial public offering of GCash’s parent company, which has now been cleared by the Philippine Stock Exchange (PSE), could further help micro, small and medium enterprises (MSMEs) expand their market reach and advance their entrepreneurial journey.

The PSE on Friday, September 18, approved Mynt’s listing application, covering up to 8.03 billion primary and secondary common shares, with an overallotment option of up to 1.20 billion secondary common shares.

‘Of course, companies like GCash and digital payments will really help MSMEs grow, as it will become easy for them to sell their products, especially on e-commerce platforms. Magiging madali na for them ang ma-access or ma-penetrate ang far-flung areas. If they use these digital payments, it’s easier for MSMEs to transact,’ said Trade Secretary Cristina Roque.

‘We are really pushing for people to do digital payments, especially with the DEFA (Digital Economy Framework Agreement),’ she added.

The DEFA, set for signing at the 49th ASEAN Summit in November, will establish the world’s first region-wide digital trade agreement, streamlining cross-border payments, data flows, and intellectual property protection across all ASEAN Member States.

‘And with DEFA, we provide a single, streamlined set of rules to access regional markets, secure digital payments, and protect intellectual property,’ she said.

The scheduled offering has a maximum indicative price of P10 per share, with the IPO expected to involve up to P92.3 billion worth of shares, including primary shares issued by Mynt and secondary shares being sold by an existing shareholder.

The final IPO price, however, will be determined through the book-building process and may be lowered to P8.50 or P7.50 per share.

Under the PSE-approved terms, Mynt is set to offer up to 1.61 billion primary shares and 6.42 billion secondary shares, with the overallotment option covering up to 1.20 billion additional secondary shares. The shares will be listed on the PSE Main Board under the trading symbol GCASH.

The offer period is scheduled from October 6 to 12, with the final offer price to be determined on October 1 following the book-building exercise. The tentative listing date is October 20.

PSE President and Chief Executive Officer Ramon Monzon said the listing is poised to become the largest public offering in PSE history, adding that the Exchange hopes the landmark transaction will encourage more fintech and digital economy companies to raise capital through the equities market.

The PSE also expects the offering to draw new retail investors, particularly because IPO subscriptions will be made available through GStocks in the GCash app. Local Small Investors, meanwhile, may subscribe through the PSE EASy website or mobile application.

Proceeds from the sale of Mynt’s primary shares will be used for digital financial services growth initiatives, product development and general corporate purposes, according to the PSE.

For ordinary Filipinos, the attraction of the offering is not simply the prospect of owning a stock.

The same mobile wallet app which is already being used to send money, pay bills, buy goods, receive salaries, save, borrow and invest could also become a means to buy a share of GCash stocks.

For higher-income and experienced investors, meanwhile, the investment story goes beyond GCash’s massive user base.

Mynt reported P79.8 billion in revenue and P17.2 billion in profit in 2025.

Eight hospitals in Metro Manila have reached their full capacity for designated leptospirosis beds, the Department of Health (DOH) reported yesterday.

Latest DOH data showed that the East Avenue Medical Center’s 53 leptospirosis beds including surge beds have already been occupied.

There are also no vacant beds at the Quirino Memorial and Medical Center and Tondo Medical Center with 24 and 23 current admissions, respectively. The Amang Rodriguez Memorial Medical Center has also filled its 17-bed capacity.

Current leptospirosis admissions at four other DOH-retained hospitals are also saturated. These are the Jose R. Reyes Memorial Medical Center with 11 patients, Dr. Jose Fabella Memorial Hospital and the National Center for Mental Health with three each and the Philippine Heart Center with one.

But the DOH said that there are still 128 available beds for leptospirosis spread out in the remaining 12 out of the 20 DOH hospitals.

The San Lazaro Hospital has 34 available beds, the Philippine Children and Medical Center has 26 beds, Las Piñas General Hospital and Satellite Trauma Center has 18, Research Institute for Tropical Medicine has 11, National Kidney and Transplant Institute (NKTI) has nine, National Children’s Hospital has seven, Dr. Jose N. Rodriguez Memorial Hospital and Sanitarium has six, Rizal Medical Center and the San Lorenzo Ruiz General Hospital have five each, Valenzuela Medical Center has four, Philippine Orthopedic Center has two and Lung Center of the Philippines has one.

The highest admissions of leptospirosis patients were reported at the San Lazaro Hospital with 86 current cases, NKTI with 17 and Rizal Medical Center with 15. These hospitals accounted for 235 or 81.6 percent of all current admissions.

The DOH stressed that continued inter-facility referral and coordination remain necessary particularly for hospitals already operating at or beyond their designated leptospirosis bed capacity.

Latest DOH data showed an increase in leptospirosis cases, with 8,317 infections recorded nationwide so far this year. The figure is 14 percent higher from last year’s 7,280 cases.

“Stranger Things” star Millie Bobby Brown and her husband Jake Bongiovi have welcomed another baby to their family, again via adoption.

A source exclusively told entertainment outlet People that the couple had adopted another child, a year after adopting a baby girl.

The British actress then confirmed the new by posting a photo in Instagram of her, Jake, and their two kids’ hands.

“Hi little guy!” Millie captioned the post, her hand visible by red nail polish and ring with a studded “mom” on it.

Millie and Jake, son of rock star Jon Bon Jovi, have been together since 2021 and tied the knot in 2024 during a ceremony officiated by the actress’ “Stranger Things” co-star Matthew Modine.

The actress is also known starring in several “Godzilla” and “Enola Holmes” movies, the third of the latter which just released earlier this year.

She appeared in “Damsel” and “The Electric State” and will next be seen in the movie “Just Picture It,” the series “Prism,” and a planned project with another “Stranger Things” co-star David Harbour.

Nestlé Philippines has spent nearly P500 million to expand its Chuckie chocolate milk drink manufacturing facility in Tanauan, Batangas.

In a statement, Nestlé Philippines said the expansion would add 144 million packs of chocolate milk drink annually to the plant’s production capacity.

The expanded facility was inaugurated last week.

Nestlé Philippines chairman and CEO Mauricio Alarcón emphasized the importance of the expansion to the company’s commitment to provide fortified products to Filipino families.

Chuckie’s nutritional benefits include calcium, vitamin D, iron, zinc and protein. These help develop strong bones and sharp minds and support healthy growth.

‘This investment enables us to serve more Chuckie to Filipino families with products they know, enjoy and trust,’ Alarcón said.

‘We share this milestone with our teams, our partners, our stakeholders and most especially, the families who continue to welcome Nestlé into their homes. May this achievement stand as another clear expression of our promise to serve Filipino families with care, quality and enduring trust for many more years to come,’ he said.

The company offers science-based, fortified food and beverage products to help consumers meet their daily dietary requirements, while having a balanced diet and active lifestyle.

Last year, Nestlé provided 25 billion fortified servings in the Philippines.

Beyond providing fortified products, the expansion will help strengthen local supply chains and create more jobs, supporting economic development in Tanauan City and nearby areas.

‘The growing demand for Chuckie challenges us to keep improving how we serve consumers. With this expansion, we are increasing our capacity to deliver consistently, while upholding the quality, safety and reliability that people expect from Nestlé,’ Nestlé Tanauan factory manager Neil Desabelle said.

Apart from helping improve nutrition, Nestle is implementing initiatives to reduce material use and address post-consumer plastic waste.

The fire returned to where the dream was fulfilled.

Hidilyn Diaz-Naranjo, the mighty mite from Zamboanga City – all 4-foot-11 of pure heart and steel – found herself back on familiar ground Thursday as one of the torchbearers for the 20th Asian Games Aichi-Nagoya.

And sweet memories came flooding back.

It was five years ago over in Tokyo – 342 kilometers by Shinkansen, 384 by car from Nagoya – where Diaz-Naranjo, now 35, made history as the first Filipino to win Olympic gold, ending almost a century of drought for the country since it first joined the Games in 1924.

The Covid-delayed triumph in Tokyo was barrier-shattering. It was epic. It was the lift heard around the world.

On Thursday, after completing her leg of the relay, the country’s weightlifting queen was greeted by Philippine Olympic Committee President Abraham “Bambol” Tolentino – two pillars of Philippine sports sharing pleasantries on foreign soil, both beaming with pride.

The symbolism was not lost on anyone. From Olympic champion to torchbearer – a fitting reward for the woman who showed all that nothing is impossible.

Diaz-Naranjo knows the Asian Games well as she struck gold in Jakarta-Palembang in 2018, then fell short of a repeat in Hangzhou in 2023 as she moved up in weight class.

Now she is praying for Team Philippines to keep the fire burning.

“Keep the fire burning,” was her simple but powerful message.

Carrying that fire for the country in the relay are no less than the new generation of Filipino greats – tennis sensation Alex Eala, double Olympic gold medalist Carlos Yulo, jiu-jitsu ace Annie Ramirez, pole vault star EJ Obiena and the loaded esports squad.

From Tokyo gold to Nagoya flame. The journey continues.

The semifinal lineup is now complete in the D’Generals Basketball Club Season 4:Camaraderie Cup at the Aulga Citi Sports in Barangay Lawaan II, Talisay City.

The undefeated Gunners advanced to the Final Four after pulling off a 76-74 squeaker against the upset-seeking Rise Up.

Nathaniel Gudito showed the way for the Gunners with 22 points, four rebounds and four assists, while Andrei Reyes chipped in 14 points, eight rebounds, and three assists.

The Venom Vipers, Lightsout, and Brotherhood also punched a semis ticket.

The Vipers knocked out Go Hard, 73-62, Lightsout finished off Still and Motion, 102-74, while Brotherhood eliminated the Mix Hoopers, 107-93.

Roy Daclan showed the way for the Venom Vipers with 25 points, six rebounds and four assists to become the Sunsport Player of the Game. He was backed up by Marvin Lugod with 12 points, four rebounds, and six assists.

Bal Zaspa led Lightsout with 22 points, nine rebounds, and five assists to earn the Shoe-Ice Player of the Game honors. He got huge support from Niel Soria with 14 points, seven rebounds and two assists.

In the other result, Kent Andrew Lim exploded for 40 points with eight rebounds and three assists for the Brotherhood squad, while Ronan Briones was equally impressive with 26 points, five rebounds and seven assists.

The United States is seeking to deepen its partnership with the Philippines through the food and culinary industries, with American agricultural products positioned as an ingredient in the country’s evolving food economy.

Herpin Rochet Jateng, agricultural attaché at the US Department of Agriculture at the US Embassy in the Philippines, said the US remained committed to strengthening its diplomatic and commercial ties with the Philippines, including through food and agriculture.

‘The U.S. is with you all,’ Jateng said, stressing the countries’ longstanding diplomatic relationship and partnership.

Jateng was in Cebu to grace the 3rd Bakery World, organized by the Mandaue Chamber of Commerce and Industry (MCCI).

He said US agricultural products could complement Filipino culinary practices and help local businesses and chefs develop products while preserving the distinctive character of Philippine cuisine.

‘It’s always a pleasure’ to see US products blended with Filipino ways of doing things, Jateng said, adding that the partnership offered opportunities to showcase the range of products available from the US.

The remarks come as the Philippine food sector faces changing consumer preferences and growing demand for products that combine quality, consistency and innovation.

Joseph Blippert of US Wheat Associates said the organization would expand its training and industry programs in the Philippines, in partnership with the US Department of Agriculture’s Foreign Agricultural Service.

The additional programs are intended to help industry participants adapt to changes in the market while maintaining the standards that Filipino consumers have come to expect, he said.

‘We’re here as partners with you,’ Blippert said, adding that US Wheat Associates was committed to increasing resources for training and other activities.

The initiative emphasizes the role of technical cooperation alongside agricultural trade, as US suppliers seek to strengthen their position in a Philippine market where food manufacturers, bakers and culinary businesses are increasingly focused on product quality and consistency.

Blippert said the organization would work with local industry players to ‘navigate the change, rise together’ while continuing to promote the use of high-quality ingredients.

For the US, the engagement provides a route to strengthen demand for American agricultural commodities beyond traditional trade channels. For Philippine businesses, greater access to products, technical expertise and training could support product development and help local enterprises respond to changing consumer tastes.

The partnership reflects a shift in agricultural trade towards relationships that extend beyond the sale of commodities to include training, product development and knowledge transfer – areas that can shape how imported ingredients are incorporated into local food businesses.

Fare hike petitions must be resolved by next month, according to the Department of Transportation.

The DOTr has given the Land Transportation Franchising and Regulatory Board (LTFRB) a month to recommend possible actions on the petitions.

Transportation Secretary Giovanni Lopez said they are working on a resolution that would benefit workers without burdening commuters.

‘We aren’t saying that there won’t be any fare increases. What we are saying is that the government is currently working on other initiatives. We need to shoulder the burden,’ Lopez declared.

Expanding the fuel discount is being considered by including more public utility vehicle operators and other types of petroleum products aside from diesel, Lopez said.

Select jeepney drivers and operators are receiving a fuel subsidy of P12 per liter.

Operational costs are rising as prices of petroleum products increase, transport groups said.

Filinvest Land Inc. (FLI), the Gotianun family’s real estate unit, is streamlining operations by planning to dissolve three non-operating subsidiaries.

FLI said its wholly owned subsidiaries – Proleads Philippines Inc. (PPI), Realpros Philippines Inc. (RPI) and Filinvest Lifemalls Mimosa Inc. (FLMI) – have filed applications to amend their respective articles of incorporation to shorten their corporate term.

The move aims to streamline FLI’s corporate structure.

FLI said the shortening of the corporate term of PPI, RPI and FLMI, as well as their eventual dissolution, is not expected to have any material financial, business or operational impact on the company or its stockholders.

It said the subsidiaries have no material assets or liabilities, and any obligations would be settled under applicable laws before their dissolution is complete.

PPI and RPI were both incorporated to provide marketing services and other administrative support services to FLI’s real estate projects.

Following the dissolution of PPI and RPI, FLI said its other marketing entities may, as necessary, undertake any marketing services previously rendered by these firms to ensure no disruption to ongoing operations.

FLMI, meanwhile, has not commenced commercial operations since its incorporation.

FLMI previously explored the shortening of its corporate term as part of a broader review of its corporate structure and the business plans for the Mimosa Lifestyle Mall.

FLI, through its subsidiary Filinvest Clark Mimosa Inc., will continue developing the Mimosa Lifestyle Mall as its owner, developer and manager.

FLI is one of the country’s leading full-range property developers. It has built a diverse project portfolio that includes its core best-value homes, townships, mixed-use developments, mid-rise and high-rise condominiums, office buildings, shopping centers and leisure developments.

Indulge me a little in arguing my position on the current hot legal topic: the voting of the Senate impeachment court. I admit that I have no legal credentials, but like everyone, I do have my opinion on the matter, which many on social media are freely sharing.

Uniquely enough, I have the opportunity to voice my opinion through my column, and I admit that it is simply my own view.

My husband and I, like most other couples, have differing views about the legal interpretation shared by the four amici curiae.

He agrees with the interpretation of retired Chief Justices Artemio Panganiban, Reynato Puno and Hilario Davide, but I somehow agree with that of retired Associate Justice Adolfo Azcuna that the majority vote of 16 must be adhered to as intended by the framers of our Constitution.

While I also tend to agree with the position of Panganiban, Puno and Davide, I also see the point of view of Azcuna based on my own view about our general adherence to the majority rule, which has been the quickest and most agreeable way to settle a dispute over who wins when it comes to decision-making.

We may not often like the majority vote, but we accept it as the best way to end a dispute.

We all know that it is always difficult to agree merely on who has a better argument. In the end, the last and quickest way to resolve an argument ends up with a majority rule vote, and not on a value judgement by each member of a group.

Thus, even in an election, we get to hear the pitch of each and every candidate and their values and principles, but the election process is decided by a majority vote.

A majority voting that, whether some of us like it or not, we live with it, Thus, our country chose former President Duterte and our current President Marcos – and even in the United States, President Trump.

And so, here we are.

Locally, we see why the majority vote brought us to this point that we have a President whose father’s legacy continues to cloud his tenure, and a Vice President whose father is in the Netherlands undergoing trial at the International Criminal Court.

The voting process is voluntary and does not necessarily restrict those who are in jail for less than a year and those who are still awaiting trial.

I tend to agree with Azcuna that if whoever is in power is allowed to manipulate and interpret the majority rule by imposing restrictions through detention or insisting physical presence in the Senate chamber, that person is basically distorting the intent of the law.

The 24-16 majority rule vote does have its flaws, but allowing a whimsical interpretation of the majority vote rule at every turn would be far worse because there would never be a fixed rule, in my opinion.

In a corporate setting, which also follows the majority rule vote, they allow remote meetings and voting so as to ensure proper voting.

Theoretically, If we allow a corporation to put restrictions on voting by its board of directors by always requiring physical presence and not allowing video voting at this time when the technology is now available, it would clearly smack of manipulation by management to always ensure that it gets its way.

If so, why even have an independent board?

Of course, we all know, just like in any grouping, there are always factions. But there are also safety valves in electing independent directors to ensure that they can neutralize manipulation of the voting process by members of a corporation.

Unfortunately, there are so many ways directors or members of a corporate board may be swayed, convinced or even coerced to vote for an opposing party or decision. That is the way life goes. There is always manipulation, but more so in a political setting. And that is where our current political stand-off is.

Perhaps the original framers of our Constitution, at a time when people were principled and educated, thought that all things and moral values would remain steadfast.

It has not. Here we are now, with an educational system that continues to deteriorate. Here we are where social media is where we mostly rely on news and what we hope is an unfiltered view of the majority.

In reality, though, social media is subject to algorithms that basically program social media feeds to provide similar content that interests the user. Thus, if the social media user prefers certain radical political views, it will most likely continue seeing such content that the user prefers, thus possibly distorting or skewing his or her view of an argument or event.

As we in the traditional print media have realized, the public now relies more on social media where they can immediately react and engage with their own opinions and views. And sadly, some social media users exceed the boundaries of engagement and become belligerent.

Digital media has, thus, increasingly become more popular by piggy-backing on social media platforms to gain more readership. Admittedly, there are increasingly better analyses posted on social media, not influenced by corporates, politics or advertising. But by the same token, social media has also been weaponized by some to promote their own radical views.

Social media has become a forum for frank discussion.

But on the negative side, the lack of verification and adherence to rules governing libel and privacy, are some of the dangers of social media news reporting.