Category: Philippine Star

The Ayala Group is investing more in the redevelopment of additional malls, as the reinvention of the first two shopping centers under its initial makeover plan is slated for completion by the end of the year.

‘We just had an approval for another five. Another five redevelopments and new builds,’ Ayala Malls chief operating officer Paul Birkett told The STAR.

‘My plan for the next five years is a busy plan with billions (of investments). We have to build more. Build it better. Build it quicker and make it right,’ he said.

Property giant Ayala Land Inc. (ALI) in 2024 decided to embark on a massive P13-billion redevelopment of its flagship malls, which will see its four iconic shopping centers — Glorietta, Greenbelt, TriNoma and Ayala Center Cebu – reinvented to cater to evolving consumer preferences.

The company later on announced that it is spending an additional P4.5 billion to redevelop four more malls – Ayala Malls Abreeza, Ayala Malls Cloverleaf, Ayala Malls Fairview Terraces and MarQuee Mall.

Birkett said that TriNoma’s reinvention is expected be completed by the end of the year.

‘You know how it is on any redevelopment. It’s the final 20 percent that is the most challenging. So that’s moving on track,’ Birkett said.

‘Ayala Center Cebu will be completed by the end of the year, barring some recent incident with some earthquake damage. But we’re right on track on that,’ he said.

For Glorietta, Birkett said that all internal works will be finished by the end of this year, while Greenbelt is also progressing at a steady pace.

‘They’re all on track. So now there’s more coming, I’m not content with that. We’ve got MarQuee being refreshed and expanded. We’ve got Davao (Abreeza) being rebuilt after the earthquake, refreshed and expanded,’ Birkett said.

Ayala Malls’ redevelopment program is expected to unleash the full potential of its retail space as well as enhance areas for convergence and create spaces that challenge retailers to bring their best to the Filipino consumer.

Including the renovations, ALI has about 700,000 square meters of mall space currently under planning or construction.

ALI’s optimism to expand its malls is fueled by the continuing growth in foot traffic across its shopping centers nationwide.

Ayala Malls president and ALI head of leasing Mariana Zobel de Ayala earlier said that the group will strategically expand its footprint over the next five years, with plans to add 700,000 square meters of gross leasable space with the opening of new Ayala Malls in key growth areas across the country.

The Philippine Space Agency (PhilSA) issued another debris warning following the launch of another rocket by China yesterday morning.

Debris from the Long March 8A rocket are expected to fall in the waters off El Nido, Puerto Princesa City and Tubbataha Reef Natural Park in Palawan as well as Hadji Muhtamad in Basilan.

The rocket took off from the Hainan International Commercial Launch Center in Wenchang, Hainan at 9:33 a.m., PhilSA said.

A notice to airmen about the aerospace flight activity was issued by the agency together with a pre-launch report to relevant government agencies and authorities.

Th public has been advised not to touch or retrieve any material suspected to be debris from the rocket as these may contain remnants of toxic substances.

Listed mining firm Nickel Asia Corp. said one of its renewable energy subsidiaries has officially lost its geothermal contract in Mindoro due to long delays, with the company ordered to pay $120,000 (around P6.99 million at $1 = P58.25) for unpaid fees.

In a disclosure to the Philippine Stock Exchange, Nickel Asia said the Department of Energy (DOE) had notified Mindoro Geothermal Power Corp. (MGPC) on Oct. 13 that its geothermal renewable energy service contract had been finally and irrevocably terminated.

MGPC is a unit of Emerging Power Inc. (EPI), which is wholly owned by Nickel Asia.

‘MGPC will settle the financial obligation within the period required by the DOE stated in the Letter,’ Nickel Asia Corp. said in its regulatory filing.

The company is required to settle the payment for training assistance obligations within 30 days after receipt of the DOE’s termination letter.

The project, known as the Montelago Geothermal Power Project, had been part of Nickel Asia’s early renewable energy ventures and was launched as the miner sought to diversify beyond its core nickel operations.

The termination effectively ends more than a decade of efforts to develop the geothermal site.

The mining company said that the write-off of its investment in EPI related to MGPC had already been reflected in its 2024 audited financial statements.

The P8-billion project covers the development of the Montelago field and the generation of 40 megawatts of geothermal power, intended to supply both Occidental and Oriental Mindoro.

Earlier in August, Nickel Asia Corp. reported that it posted strong earnings during the first half of 2025, boosted by higher ore export prices that offset lower production.

The company said its net income for the period surged by 88 percent to P2.1 billion, up from P1.12 billion in the same semester last year.

Total ore sales jumped to P10.59 billion, a 36 percent increase from P7.79 billion, as weighted average prices rose 44 percent to $23.87 per wet metric ton (WMT) from $16.6 per WMT.

Home Credit Philippines, the country’s leading consumer finance company, is excited for its exclusive pre-order offers for the highly anticipated generation of iPhones-iPhone Air, iPhone 17, iPhone 17 Pro and iPhone 17 Pro Max.

From October 9 to 16, customers can secure their new iPhones and enjoy 0% interest for up to 24 months through Home Credit, making it its best offers to date.

Affordable daily installment rates:

iPhone Air – for as low as P76/day

iPhone 17 – for as low as P61/day

iPhone 17 Pro – for as low as P83/day

iPhone 17 Pro Max – for as low as P90/day

Why choose Home Credit?

Fast approval with just 1 valid ID

0% interest for up to 24 months

Pre-order made easy and accessible in all major Apple resellers nationwide

Home Credit Philippines continues to make premium devices more attainable for Filipinos. With its quick approvals and flexible installment plans, owning or upgrading to the latest generation iPhone has never been easier.

‘We’re honored to once again be part of bringing the latest generation of iPhones to the Filipinos.’ said Puneet Suneja, chief sales officer of Home Credit Philippines. ‘Filipinos have always had a strong affinity for iPhones, and we’re excited to continue making ownership easier and more affordable than ever.’

Customers can browse available units and store locations via Shoppingmall.ph, then proceed with pre-ordering at their preferred store.

Download the Home Credit App on Google Play or App Store for quick pre-approval or speak to a Home Credit sales representative at any partner store.

A teacher was wounded after she was allegedly shot by her husband during class in a school in Tanauan, Leyte yesterday morning.

Elizabeth Mandreza was rushed to the nearest hospital by her fellow teachers after a bullet grazed her neck.

Reports said that Mandreza was conducting class at the Tanauan School of Craftmanship and Home Industries in Barangay Canramos when her husband Adan barged in and shot her.

The suspect threw the gun onto the roof of a nearby building as he fled from the crime scene.

Responding members of the Tanauan police arrested the suspect, who tried to kill himself with a fan knife, according to Capt. Carmelo Gacho, Tanauan police chief.

The incident prompted school officials to suspend classes.

Probers are eyeing jealousy as the motive for the attack.

Meanwhile, in Laguna, two people were killed while three others were wounded when an alleged shootout erupted during the serving of an arrest warrant in Calamba on Wednesday.

Romar Awid died at the scene of the incident that occurred in Barangay Cristobal while four-year-old Akhiro Sañez died while being rushed to a hospital.

The wounded victims including two police officers and a woman were taken to different hospitals for treatment of gunshot wounds.

The officers were about to handcuff Regie Abarquez when his companions including Awid drew their guns, triggering a shootout, according to Lt. Col. Dennis de Guzman, Calamba police chief.

Police said Abarquez has pending cases for frustrated murder, gunrunning and contract killing.

The UAAP whipped UE guard Wello Lingolingo with a three-game suspension following his unsportsmanlike foul that led to La Salle guard Kean Baclaan’s season-ending MCL injury during their game Wednesday at the MOA Arena.

After review, it was determined that the foul involved ‘excessive and forceful contact made by a player in an attempt to play the ball or an opponent’ as per the statement by the league.

It was deemed as an unsportsmanlike Criteria 2 after Lingolingo dove for possession and landed on the right knee of Baclaan at the 4:21 mark of the intense match won by the Green Archers in overtime, 111-110.

Lingolingo was then ejected from the game owing to a prior technical infraction for faking a foul in the third quarter.

Meanwhile, Baclaan, grimacing in pain, had to wear a knee gear as he was wheeled out of the venue by the medical team.

Baclaan’s MRI test yesterday revealed an MCL tear on his right knee, kissing his La Salle debut goodbye after his transfer from National U last season.

The mere call, even before UAAP’s suspension, drew the ire of UE mentor Chris Gavina as he harshly called out the officiating that took out one of his best players.

Lingolingo had had 24 points on his ejection.

Gavina was spared of any sanction.

Students across Metro Manila walked out of their campuses and marched to Mendiola on Friday, October 17, to air their fury as the government’s investigations into widespread anomalies in public works projects continue to drag on without major charges filed.

The protests, smaller but similarly coordinated as last month’s rallies, are a signal that the anger that drew tens of thousands to the streets on September 21 had not yet ebbed despite the Malacañang’s calls for calm.

The coordinated campus walkouts spanned the University of the Philippines Diliman, University of Philippines Manila, University of Santo Tomas, Far Eastern University, Adamson University, schools along the university belt in Manila such as San Beda University, schools in Intramuros, including Mapúa University, Colegio de San Juan de Letran.

Also present were students from Taft schools, such as the De La Salle-College of Saint Benilde, St. Scholastica’s College and Philippine Normal University.

The coordinated walkouts were organized under the banner of the National Day of Youth Action Against Corruption, a campaign organized by the UP Act Against Corruption Network and the National Union of Students of the Philippines.

The organizers said in a statement on Friday that the mass action was meant to ‘sustain public pressure’ over unresolved irregularities in government infrastructure projects, particularly those under the Department of Public Works and Highways’ (DPWH) flood control program.

In their joint manifesto, student leaders from the UP Act Against Corruption Network described the current controversy as ‘the gravest unresolved corruption scandal in recent history,’ accusing the administration of using ‘violence, disinformation, and political theatrics” to divide the people and blunt public outrage.

‘Gen Z Filipinos will not be pacified by PR stunts or token reforms meant only to preserve a rotten system,’ the statement read. ‘Not a single contractor or government official has been held to account.’

Continuing outrage

The protests come nearly three months after President Ferdinand Marcos Jr. bared that P100 billion worth of flood control projects – 20% of the total – were corned by just 15 contractors since 2022.

The revelations have since triggered Senate hearings and a separate probe by the newly formed ICI, but both inquiries have drawn backlash amid questions about whether it can take a real aim at the big names involved in the scandal.

The youth-led network is lamenting the fact that despite months of televised hearings and repeated assurances from the Palace, no major figure – whether from Congress, the contractor networks, or the Cabinet – has been held to account.

‘The Senate hearings have stalled, the so-called Independent Commission for Infrastructure operates in secrecy, and those in power seek to distract, delay, and silence us,’ the manifesto read. ‘Marcos Jr., architect and greatest beneficiary of the very system we condemn, continues to evade accountability.’

Friday’s demonstrations, they said, were meant to ‘make clear that the persistence of corruption lies in the ineptitude and complicity of Malacañang itself.’

“The two highest officials of the land–the President and the Vice President embody the most powerful corrupt dynasties in the country, and to resolve this crisis, they too must be held accountable, if not removed altogether, for nothing will change while they remain in power,” the network said.

The Biñan Tatak Gel Arellano Lady Chiefs made short work of the Marikina Lady Shoemasters, 25-12, 25-8, 25-14, to gain a piece of third spot at the tailend of the first round of the 2025 Maharlika Pilipinas Volleyball Association (MPVA) play on Wednesday night at the Arellano Gym in Legarda.

It’s the third straight win for Biñan to tie Quezon at No. 3 with identical 4-1 slates just behind the unbeaten Dasmariñas Monarchs (5-0) and the Pasay Lady Voyagers (4-2) in the upstart volleyball league.

Only the Top 4 teams after a double-round robin format will advance to the best-of-three playoffs, and the Lady Chiefs are making sure to be in contention in a redemption tour after losing to Quezon in the finale last year.

In the other game, the ICC Negros Blue Hawks pulled off a 19-25, 23-25, 25-22, 25-23, 15-13 reverse sweep of the winless Caloocan AM Spikers.

Andrea Caparal exploded for 28 points in Negros’ escape win

The Philippine Stock Exchange index posted a slight dip yesterday, halting its three-day upswing due to the absence of new catalysts.

The benchmark index slipped by 0.007 percent or 0.43 points to close the session at 6,093.67.

The broader All Shares index, meanwhile, finished in the opposite direction, improving by 0.04 percent or 1.32 points to 3,672.20.

‘The local market inched down amid a last-minute profit taking. Investors booked gains following a three-day rally, which got extended in the middle of the day’s trading,’ Philstocks Financial research manager Japhet Tantiangco said.

Local counters remained mixed, with holding firms picking up the most significant gain at 0.89 percent, while services recorded the biggest drop at 1.10 percent.

Total value turnover expanded to P9.82 billion from the previous day’s P7.9 billion.

Market breadth was positive, as advancers outpaced decliners, 108 to 92, while 58 issues remained unchanged.

ICTSI remained the top-traded stock, plunging by 1.82 percent to P540 per share, followed by BDO and BPI, which climbed by 0.72 percent and 1.03 percent, respectively, to P140 and P108.

Among index members, San Miguel registered the highest jump at 5.87 percent, while Monde Nissin lost the most at 3.47 percent.

Department of Public Works and Highways (DPWH) Undersecretary Arrey Perez, whom Secretary Vince Dizon had personally brought to his team, has resigned after a lawmaker accused him of ties with contractors.

Dizon described Perez as a “good worker” and urged fairness in the investigation process as he announced the official’s irrevocable resignation on Friday, October 17.

This was after Rep. Leandro Leviste (Batangas 1st District) accused a DPWH official of conflict of interest in having connections with contractors.

In a dzRH interview earlier on Friday, Leviste made public Perez’s name, whom he accused of conflict of interest, saying he received information that the undersecretary is poised to oversee procurement for major infrastructure projects for the department.

While he has yet to provide evidence on the accusation, Leviste said he would leave it to Dizon to conduct the probe.

“My focus is that we should reform the system, and not think that simply changing the people handling the bidding would eliminate corruption,” Leviste said.

At a separate press conference, Dizon said he informed Perez of Leviste’s accusation against him and said that this will be investigated.

Perez has since handed in his resignation.

‘Anang-unang wina-welcome niya yun pero ayaw niyang makasagabal at ayaw niyang maging distraction ito dahil alam niya na napaka-bigat ng kailangan natin gawin at siya ay mag-tender ng irrevocable resignation. At ito siyempre ay tinanggap ko na. So as of today, hindi na po parte si Undersecretary Perez sa DPWH,’ Dizon said at a press conference in Subic.

(First of all, he welcomed this but he said he does not want to be a nuisance and distraction because he knows how heavy their work is so he had tendered his irrevocable resignation. And of course I accepted this. So as of today, Undersecretary Perez is no longer part of the DPWH.)

Dizon urges due process

Despite accepting Perez’s resignation, Dizon said the investigation into alleged contractor links will continue but stressed the need for due process and factual basis before assigning blame.

Dizon also pointed out that it was the DPWH’s job to talk to contractors in order to build more infrastructure. A DPWH official speaking to a contractor is normal, Dizon said.

What would be anomalous is if the contractor starts asking the DPWH for favors, he said.

While Dizon said he understood the environment of information these days, with many wanting immediate results from the investigations, there was a process to be followed. If anyone was to be held accountable, it should be based on facts, he stressed.

The DPWH secretary said he knew Perez to be a good worker, with Dizon himself seeking him out from the private sector. Prior to his appointment to the DPWH, Perez was president and chief executive officer of Clark International Airport Corp. He also served as chief regulatory officer of the Metro Pacific Tollways Corp.

The DPWH is being treated as a ‘ground zero’ of sorts for corruption in the government, with the agency being tied to kickback schemes involving billions of pesos. Several officials in the DPWH are already being investigated for corruption schemes.