Category: Philippine Star

I recently learned that San Miguel Corp. CEO Ramon S. Ang called for a press briefing with members of the Bulacan media. There, he presented satellite images, video footage, maps and the like.

All this in an effort to disprove claims being spread by unknown Facebook accounts in the province that flooding there is caused by the New Manila International Airport (NMIA) project.

‘Not long after the media attendees’ stories were filed and posted, what followed bore some of the hallmarks of a coordinated online activity: locked profiles churning out comment after comment disparaging Ang and the airport – with the same comments making it to the comments section of multiple media outlets.’

I am reminded of the words of Thomas Aquinas who pointed out: ‘To those who believe, no explanation is necessary. To those who do not believe, no explanation is possible.’

Ramon Ang has, time and again, gone out of his way to be transparent about the airport project to the point that he personally engages the media and the public to update or clarify matters of concern and interest.

But I agree with the position of St. Thomas Aquinas that no amount of explanation is enough to convince not only critics but especially those who are part of a sinister and well-financed group organized for the sole purpose of destabilizing and delaying the SMC-NMIA by preying on the emotions of Bulakeños by blaming the airport for flooding.

I looked back on the history or early stage of the proposed SMC Bulacan airport and remembered that the project was actively blocked by certain individuals in government.

They were deeply invested in the New Clark City Airport as well as businesses with in the Clark development project that they wanted Clark Airport to have exclusive control of aviation in the region.

Another group wanted to protect the economic growth of Pampanga instead of allowing Bulacan to build up its own economic hub, a proposed legislation in support of this, which was killed at the Office of the President as PBBM’s first veto.

Then there were those who wanted to preserve and protect the old NAIA which was their gold mine. Another group was even pushing for Sangley as an alternative for domestic flights instead of NAIA.

Come to think of it, many infrastructure projects of SMC as well as aviation-related endeavors have all been subjected to ‘generated opposition’ or technical delay or sabotage starting with the expressways, trains, airline, the New NAIA and now the New Manila International Airport.

To their credit, SMC has kept going as it has done in the past. RSA often says ‘this too shall pass’ or ‘lilipas din yan.’ One time I heard him say ‘Hindi na ba kayo na sanay?’

Every undertaking of San Miguel Corporation has been completed, operating and, more importantly, beneficial to Filipinos on land and in the air.

The expressway projects are ongoing concerns that have expanded in lanes, volume and length. The Skyway keeps going further and better, and now the Star Toll is well on its way to operating in Quezon province and soon to Bicol province.

Under RSA’s leadership, PAL transformed into a viable undertaking to the point that the previous owners bought back the company.

When SMC won the bid to rehabilitate and develop NAIA, SMC was once again subjected to ‘created’ negative publicity and disinformation. It became evident that there were sore losers who could not accept the SMC takeover.

There were also several aviation-related companies and investors that were unwilling to give up their advantageous rentals within NAIA and of course, with the SMC management came the clean-up related to corruption.

Today, critics claim that the New Manila International Airport project supposedly ‘blocked’ river outflows to Manila Bay, causing water to backflow and flood wider areas across the province. They even use ‘inventive’ AI graphic work to fool and mislead the public and Bulakenyos in particular that their worsening flooding is caused by a single project.

Without needing to, SMC addressed flooding in the areas in Bulacan near the airport. The rivers that were supposedly blocked, three of them actually – the Santa Maria River, Meycauayan River and Taliptip (Alipit) River that surround the airport site – were actually widened and deepened, just like SMC has done in their river clean up in Metro Manila. What SMC did was essentially increase the rivers’ flood-carrying capacities and rate of discharge out to Manila Bay.

People may not know it but in the early stages of the project, San Miguel Corporation called on global experts to study the proposed site and provide engineering solutions.

These global experts were: Danish Hydraulic Institute (DHI), an engineering, research and technology firm specializing in water environments; UK-based Mott MacDonald, experts in coastal and marine engineering, and Royal Boskalis Westminster N.V. of the Netherlands, experts in marine infrastructure.

The engineering evaluation and services of such global firms became the stamp of approval that green lighted funding within SMC as well as European banks and regional investors who also conduct their own due diligence and sustainability assessments.

We could go on discussing or arguing the merits or demerits of the Bulacan Airport or New Manila International Airport project. But to what end when we know that the alleged opposition is manufactured by vested interest groups?

Do we want to be deprived of or denied world class infrastructure that brings economic growth annd allow the terrorism of the insignificant few to once again delay the inevitable?

The Philippine men’s team delivered a Category B bronze medal after it ripped Panama, 3-1, in the 11th and final round of the 46th World Chess Olympiad at the Silk Road International Exhibition Centre in Samarkand, Uzbekistan Sunday night.

It was the second straight medal for the Philippines after snaring a Category B gold in the women’s section the last staging in Budapest, Hungary two years ago.

International Master Pau Bersamina and Grandmaster Darwin Laylo carved out the victories on boards two and four, respectively, while IMs Michael Concio, Jr. and Jem Garcia pulled off draws on boards one and three that helped seal the triumph.

Overall, the Filipinos finished 32nd with 14 match points, which was a big leap from their 59th-place performance last time.

Vietnam took the Category B gold while Mongolia the silver.

Host Uzbekistan topped the tournament with 20 match points, two ahead of eventual runner-up and 2024 champion India.

Germany took the bronze.

The Filipinas took a shot at grabbing another Category gold but stumbled to the 20th-seeded Britons, 1.5-2.5, in the last round and ended up at 43rd spot with 13 match points.

WFM Shania Mae Mendoza secured the lone win for the squad on board four while WIM Ruelle Canino snatched a draw on second board.

Both WGM Janelle Mae Frayna and WIM Jan Jodilyn Fronda-Grafil lost on Boards 1 and 3.

Jake Bahia and Dan Simeon may be representing their company’s name in the World Corporate Golf Challenge (WCGC) in Beijing, China, but they will be carrying the Philippine flag there as well.

Bahia and Simeon of Steelmax Inc. ruled the WCGC Philippines golf tournament earlier this month, giving them the opportunity to compete in China next month.

Bahia, in an interview with reporters Sunday evening, said that ‘he does not think about the company’ as he carries the three stars and the sun.

‘I actually don’t think about the company anymore. I think a bit more on the Philippines side. Yung pride namin na dala-dala namin yung flag natin. For the Philippines,’ he said.

He said that he does not feel pressure in competing for the Philippines.

‘Yung pressure actually, doon sa sarili namin yan. Same as what we did nung nalalaro kami, hindi na namin iisip kung gaano kagagaling yung kasama namin,’ he said.

‘We actually conquered the course. At tsaka yung sarili namin.’

For his part, Simeon said that he feels more excitement than pressure.

‘I think less pressure this time. Maybe the pressure is a little bit of more… It’s more of an excitement. Kasi this is our first time [competing outside the country],’ Simeon said.

‘And also, I think it will be… I hope it will be a good take na on my side, medyo wala pressure, more on excitement, na first time going out to the country. So hopefully this time, kung less pressure or no pressure, will be a positive sign for the both of us.’

Bahia and Simeon topped their division in the Grand Corporate Golf Tournament held September 14-15.

More than 30 countries will compete in the World Final set from October 19-23 at the Beijing Qinghe Bay Golf Country Club.

Represented by Paulo Legaspi and Fred del Rosario, the Philippines, last year, finished 12th in the golf tournament.

Olympic medalist Carlos Yulo has proposed to his longtime girlfriend Chloe San Jose.

The aspiring singer posted about their nine-month engagement on Instagram Monday.

‘For nine months, we’ve been treasuring this beautiful secret between us, quietly smiling to ourselves and taking our time to cherish it, knowing that one day we’d finally share it with the world,’ San Jose wrote.

San Jose posted a carousel of photos that shows Carlos on bended knees and her engagement rings. She recalled their famous love story of a fan meeting her gymnast idol years ago.

She reminisced how she and Carlos weathered storms together, including the times when she found herself at odds with his parents, who were against their relationship.

‘We grew up together. We learned together. We fought for each other, protected each other, supported each other, and built a life of our own. Through everything, God has continued to guide us, protect us, and give us the strength to keep going. And looking back now, I’m grateful even for the chapters that weren’t easy, because they brought us here,’ San Jose said, stressing that she would always choose Yulo ‘in every lifetime.’

Carlos remains estranged with his parents, Mark and Angelica, while he and his younger sibling Eldrew, appeared to have gotten close in recent months after the very-public falling out with his parents a few years ago.

The Yulo brothers recently had successful Asian Games stints, with Carlos winning two gold medals while Eldrew fetching a bronze it their events.

The stock market has always rewarded winners. But today, the winners are so large that they make up the bulk of the stock index.

In the US, the Magnificent Seven (Nvidia, Apple, Microsoft, Alphabet, Amazon, Meta and Tesla) account for about 35 percent of the SandP 500. That means that only seven companies make up more than a third of the index, while the remaining 493 companies share the other 65 percent. The top 20 companies account for about 50 percent, while the top 40 make up about 60 percent of the entire index.

It is even more lopsided in Asia. Taiwan Semiconductor Manufacturing Co. (TSMC) accounts for more than 40 percent of the TAIEX. Samsung Electronics and SK Hynix together make up more than half of the KOSPI. In Singapore, three banks (DBS, OCBC and UOB) account for about 57 percent of the Straits Times Index. Here at home, ICTSI has grown to 27 percent of the PSE Index and 44 percent of MSCI Philippines.

Size becomes an advantage

Size itself has become an advantage for the bigger companies. In AI, the largest tech companies, or hyperscalers, are spending more than $700 billion on data centers, chips, models and talent. TSMC is spending about $54 billion to build more advanced chip plants. In Korea, SK Hynix announced a KRW100 trillion ($64 billion) investment program, while Samsung is also expanding high-bandwidth memory (HBM) capacity. Smaller competitors do not have the balance sheets to match this level of spending.

ICTSI also uses its growing cash flows and strong balance sheet to acquire and develop ports around the world. It now operates 34 ports in 19 countries across six continents. New terminals add to its earnings and give it the capacity to fund further acquisitions.

Passive investing adds fuel

Index funds add to the trend. They buy every stock in the index according to its index weight. Take the PSEi, for example. With ICTSI at about 27 percent of the index, every P100 invested in a PSEi fund puts P27 into ICTSI. The same is true for SPY, QQQ, EWY, EWT, EWS and EPHE, where most of the money goes to the largest stocks in each market.

A similar effect is happening globally. The US now accounts for about 70 percent of the MSCI All Country World Index, the benchmark for global equities.

As US stocks outperformed, driven by their premier position in the AI revolution, US market capitalization grew and the country’s weight in the global index increased as well.

The small gets smaller, cheap becomes cheaper

The reverse happens to companies whose stock prices fall behind. When a stock underperforms, its market cap and index weight decline. Eventually, if its free-float market value or trading liquidity drops below thresholds, the stock may be downgraded to a small-cap index or removed altogether.

Major index providers such as MSCI and FTSE Russell do not consider valuation or management quality. A well-run company trading at a low valuation can still lose its place in the benchmark if it becomes too small or too thinly traded. That is why cheap can become cheaper. Lower prices shrink market cap, reduce index weight and can eventually trigger forced selling by passive funds.

Meanwhile, the biggest stocks and the biggest markets keep attracting a larger share of benchmark-driven flows. This also helps explain why money keeps gravitating toward the US stock market. Index providers favor size, not cheapness. On the other hand, persistently low valuations and low liquidity have pushed a record number of companies worldwide to go private and delist.

Blue chips lose their place

In the Philippines, Jollibee Foods Corp. and Ayala Land – two of the most admired and revered Philippine companies – were removed from the MSCI Philippines Index this year after their market values and liquidity fell below thresholds.

At its peak, the MSCI Philippines Index had 23 constituents and Philippine stocks accounted for about 1.47 percent of the MSCI Emerging Markets Index (EEM). Today, the index is down to just nine stocks and the country’s weight in EEM has fallen to about 0.29 percent.

When a stock is removed, passive funds tracking the index are forced to sell it. Active managers often trim their holdings as well.

The Philippine effect

The impact of this index-driven phenomenon is notably pronounced in the Philippine market. Average daily value turnover on the PSE was only P7.7 billion (about $125 million) in the first half of 2026. This month, it has fallen to about P6 billion (less than $100 million) a day. Many Philippine companies trade at steep discounts to their historical valuations. But without size and liquidity, low valuations have not been enough to bring buyers back.

For now, size and scale win. The largest companies can invest more, make acquisitions and raise capital more easily. Rising share prices lift their index weights and bring in more passive money. Smaller companies move in the opposite direction, and some end up outside the benchmark altogether. Size begets size.

The local stock market is expected to continue moving with a bearish bias this week amid concerns on inflation.

The Philippine Stock Exchange index (PSEi) was able to rebound and close in positive territory last Friday at 5,825.97. Still, it was down by 0.51 percent week-on-week.

Unicapital Securities head of research Wendy Estacio-Cruz said the market snapped a five-session losing streak last Friday as bargain hunting drove a relief rally.

She said the peso also recovered, although lingering economic and geopolitical concerns kept investors cautious.

‘In our view, for recovery to be sustainable, clear signs of improving growth prospects and easing geopolitical risks are needed,’ Estacio-Cruz said.

‘We believe the market is now looking forward to the release of September inflation data in the next two weeks, which could provide clearer direction for monetary policy expectations,’ she said.

First Metro Investment Corp. head of research Cristina Ulang, for her part, expects the PSEi to continue trading sideways to flat early this week, capped by quick profit taking on rallies.

‘Market path is uncertain ahead of the September Philippine inflation data likely showing still elevated inflation,’ she said.

Chartwise, Philstocks Financial research manager Japhet Tantiangco said the market’s current support is seen at 5,800, while resistance is at 6,000.

This week, he said the market may test 5,800 further.

‘The local market continues to move with a negative bias, hitting a new low for the year at 5,730.02 last week,’ Tantiangco said.

On the macroeconomic front, Tantiangco said inflation remains a central concern amid high oil prices, weak local currency and rising inflation expectations.

‘While current levels are considered bargains, and fundamentals remain intact, the bearish case remains strong as other markets move unfavorably against local equities, while overall macroeconomic conditions remain discouraging,’ he said.

2TradeAsia.com said eyes are on Bangko Sentral ng Pilipinas’ September inflation outlook this week, while GCash’s final pricing on Oct. 1 for its initial public offering will also be awaited.

The Cebu City Department of Veterinary Medicine and Fisheries (DVMF) has raised its collections to nearly P20 million as it intensified animal health, meat inspection, fisheries monitoring, and animal welfare enforcement in August.

The DVMF reported P2,339,279.74 in income in August, bringing its total collections from January to August to P19,169,268.85.

Fisheries enforcement was intensified through the inspection of 2.37 million kilograms of marine products and joint market denial operations with the Bureau of Fisheries and Aquatic Resources (BFAR) and Bantay Dagat. The operations resulted in the confiscation of stingray meat and illegally caught fish.

The division also coordinated with biodiversity and environment offices on fish harvests and participated in consultations on catch certification rules for exports.

Meanwhile, personnel of the City Meat Inspection Service underwent training on the Livestock Post-Abattoir Administrative Data and Reporting System (LaPAD), supported by newly acquired tablets for data gathering.

Biosecurity seminars on African swine fever (ASF) were conducted for butchers, processors, and residents in upland barangays. Inspection teams also processed 12,152 hogs and 129,724 chickens in accredited facilities.

Animal health services were expanded through radio campaigns, barangay caravans, and intensified vaccination drives.

The Animal Clinic served 290 clients, while livestock deworming and supplementation activities were conducted in Lusaran, Taptap, and Bonbon.

Vaccinator training in Sambag 2 mobilized barangay health workers and safety officers, while ASF-affected communities received cockerels as alternative sources of food.

The department also acted on six animal welfare complaints and registered and vaccinated 83 pets through its home service program.

Rabies control teams vaccinated 1,729 animals and provided treatment for mange and wounds, as well as deworming services.

Administrative services generated an additional P394,050 in fees under the Animal Welfare Ordinance, covering spay and neuter services, registration, adoption, and certifications.

The DVMF also continued updating its Citizen’s Charter, procurement systems, and gender and development initiatives.

The department said the measures reflect its expanding role in safeguarding Cebu City’s food supply chain, fisheries resources, and animal welfare while generating nearly P20 million in collections during the first eight months of the year. – /FPL (FREEMAN)

With the Philippines’ power market liberalized, much of the responsibility for securing the energy future rests with the private sector.

That role is becoming even more critical as the Philippines races to add renewable power, meet growing electricity demand and turn its energy transition from policy targets into projects on the ground.

One company helping drive this transition is Aboitiz Renewables Inc., the renewable energy arm of Aboitiz Power Corp.

And its efforts have not gone unnoticed in the region.

Aboitiz Renewables was named Independent Power Producer of the Year at the Enlit Asia Power and Energy Awards 2026 here in Indonesia’s capital.

The company was cited for its project completions, merger and acquisition activities and industry leadership in advancing renewable energy (RE) development across the Philippines.

It emerged ahead of two other finalists in the category – Malaysia’s Malakoff Corp. Berhad and Singapore’s Levanta Renewables.

‘We are deeply grateful for this recognition, but the real credit goes to our team members. It is their passion, innovative spirit and responsible and reliable project execution that make this possible,’ Aboitiz Renewables president Jimmy Villaroman said.

Aboitiz Renewables corporate communications head Meg Racho and VP for project development – solar Rolando Vergara accepted the award on behalf of the company.

Over the past four years, Aboitiz Renewables has added 846 megawatts (MW) of new capacity to the grid, comprising six solar farms, an RE-integrated battery storage and a geothermal binary plant.

It further expanded its portfolio in February with the P36.3-billion acquisition of the 797-MW Caliraya-Botocan-Kalayaan hydropower complex in Laguna after winning the government auction.

These projects have more than doubled the company’s attributable capacity to over two gigawatts today from just 900 MW in 2022.

‘True excellence is an ongoing process, and we are privileged to support the Philippines’ clean energy transition,’ Villaroman said.

Aboitiz Renewables has also advanced four battery energy storage projects into the construction phase and is on track to bring its first wind project online by the end of the year.

Currently, the company operates 45 RE facilities nationwide, with a development pipeline of more than 1,000 MW across solar, hydro and wind projects.

Across Southeast Asia, the energy sector is grappling with the challenge of scaling up renewables while keeping electricity affordable and ensuring reliable power as demand continues to grow.

This energy trilemma has been at the heart of discussions at this year’s Enlit Asia, the premier annual platform for the ASEAN power sector.

For the Philippines, the challenge is particularly urgent. The country aims to increase the share of renewables in the power mix to 35 percent by 2030 and 50 percent by 2040 from 25 percent today.

With only a few years left to hit the target, whether the country gets there remains uncertain.

What is clear is that the private sector is investing and building. The government’s task now is to create sound policies that can turn that momentum into the affordable electricity Filipinos need.

Lapu-Lapu City is vying for the 2026 Most Business-Friendly Local Government Unit (LGU) award in the highly urbanized city category after presenting its programs and initiatives before a panel of judges in Manila.

The city is among the five finalists in the City Level 1B (highly urbanized city) category of the Philippine Chamber of Commerce and Industry (PCCI) Most Business-Friendly LGU Awards.

The city’s delegation presented its programs, policies, and practices aimed at supporting businesses, attracting investments, and promoting local economic activity.

The presentation was held at the PCCI in Manila and was followed by a question-and-answer session with the board of judges.

Lapu-Lapu City was represented by officials from the Local Economic Development and Investment Promotion Office (LEDIPO), Business Permits and Licensing Office (BPLO), City Treasurer’s Office, Office of the Chief of Staff, and members of the Sangguniang Panlungsod.

The delegation included LEDIPO head Atty. James Sayson and assistant Atty. Reila Jumaoas, City Treasurer Claire Cabalda, BPLO head Atty. Karl Rosolada, Chief of Staff Atty. Ailee Tejano, and city councilors Annabeth Cuizon and Arianne Yap.

Lapu-Lapu City Chamber of Commerce and Industry president Anthony Noel also joined the city delegation during the presentation.

The city is competing against four other highly urbanized cities-Bacolod, Baguio, Iloilo, and Cagayan de Oro-for the award.

The competition recognizes local governments based on their efforts to create an environment conducive to business and investment, as well as initiatives that support economic development.

For Lapu-Lapu City, the presentation highlighted the combined efforts of the local government, business community, investors, workers, and residents in sustaining economic activity in the city.

The city government said its business-related initiatives are intended not only to attract investments but also to create employment opportunities and support small and medium-sized businesses.

Mayor Ma. Cynthia King-Chan expressed hope that Lapu-Lapu City would receive the recognition, but emphasized that the presentation also provided an opportunity to showcase the city government’s continuing efforts to make its services responsive to businesses and supportive of enterprise.

Caloocan Bishop Pablo Virgilio David is backing the push for a genuine anti-dynasty law through a people’s initiative.

The ‘Dapat Isa Lang Movement’ launched a signature campaign that aims to gather at least seven million signatures – or 10 percent of the country’s registered voters – to push for a national referendum to enact the law.

‘Perhaps this is where we need to rediscover another form of People Power. The Constitution reserves legislative power not only to Congress but also to the people through initiative and referendum,’ David said.

Catholic Bishops Conference of the Philippines president and Lipa Archbishop Gilbert Garcera has issued a pastoral statement supporting the Dapat Isa Lang people’s initiative as a peaceful, lawful and democratic means for Filipinos to pursue the long-delayed constitutional mandate.