Category: Philippine Star

Farmgate prices of palay have started to rise after diving below P10 per kilo a few weeks back.

Palay traders at the Intercity Industrial Estate in Bocaue – a major rice trading town in Bulacan – said the farmgate price of palay in Central Luzon now averages P14 to P15 per kilo for newly harvested crops.

Rice traders also confirmed to The STAR that clean and dry palay is being procured at an average of P18 to P19 per kilo.

Despite the increase, farmers’ group Samahang Industriya ng Agrikultura (Sinag) said the prices are still lower compared to that of the National Food Authority (NFA), which buys fresh palay at P17 per kilo and P23 for clean and dry palay.

Sinag president Rosendo So said the prices are still not profitable for rice farmers, noting that palay farmgate price should be at least P17 per kilo to allow farmers to earn.

So suggested that the government raise the tariff for rice importation to 35 percent as this might pull the farmgate price to the P17-per-kilo level.

NFA administrator Larry Lacson said the grain agency has a P6-billion procurement fund for this harvest season and targets to buy four million bags of palay.

Home Credit Philippines (HCPH), the country’s leading consumer finance company, has helped more than 12 million Filipinos access essential products and services, from smartphones and appliances to mobility and insurance.

At its recent event, Future Focus: Building Tomorrow Together, HCPH revealed that it has financed 2.5 million smartphones since the start of 2024 -an average of 5,000 devices per day already by August 2025.

The company also reported strong growth across other product categories, underscoring how far it has come in just over a decade, evolving from a small retail booth to a nationwide financial partner trusted by millions.

From 33 customers to 12 million loyal customers

Since opening its first booth in 2013 with only 33 customers, HCPH has grown into the country’s leading consumer finance provider.

Today, it reaches millions nationwide through 18,000 partner stores and a dedicated team of 10,000 sales associates.

‘Our journey has always been about empowering Filipinos to achieve more,’ said Puneet Suneja, chief sales officer of HCPH. ‘From 33 customers from our first day to 12 million we’ve served today, every milestone reflects our mission of making modern living more attainable-whether through a smartphone, a home appliance or mobility solutions.’

Premium smartphones made affordable for every Filipino

iPhones remain the top choice for many Home Credit users looking to upgrade to a premium device.

Financing for these smartphones reached P10 billion in 2024 and is expected to hit P20 billion by the end of 2025-double the previous year’s volume.

Enhancing comfort at home, on the road

HCPH also plays a role in modernizing Filipino households. Refrigerators, televisions and air conditioners remain top choices among financed items.

During Home Credit’s peak season, the company financed an average of 700 refrigerators, 1,400 televisions and 1,100 air conditioners per day, highlighting strong demand for comfort and convenience at home.

Mobility, on the other hand, has emerged as a rapidly growing category in the Philippines. According to motorcycledata.com, the country ranks as the fifth-largest motorcycle market in the world, highlighting strong local demand.

Recognizing this trend, HCPH makes motorcycles and e-bikes more accessible through flexible financing options, enabling more Filipinos to enjoy convenient and affordable mobility.

Since the start of 2024, HCPH has financed close to 70,000 units of motorcycles and e-bikes, amounting to P4.5 billion, providing customers with not just transportation but also greater independence in managing work, family and leisure.

All-around consumer protection, with every purchase

Beyond financing, HCPH also offers Home Credit Protect, a comprehensive program designed to give customers peace of mind without added financial strain.

Users can choose between Borrower Protection, which covers accidents, life, illness, hospital cash, installment waiver, unlimited online consultations and protection for borrowers and their families or Device Protection, which safeguards against accidental liquid damage, offers extended warranty, fast door-to-door repair or replacement, and like-for-like device replacement.

‘For as low as P3 a day, the same price as a pandesal, customers can protect their purchases, extend product life and secure coverage for themselves and their families. With Home Credit Protect, they don’t just safeguard their devices; they gain confidence knowing they and their loved ones are covered,’ Suneja explained.

As of August 2025, Home Credit has already approved and released over P1.75 billion in claims, with nearly 70,000 devices repaired or replaced under Home Credit Protect, showing strong customer trust.

Driving economic growth

These achievements underscore the vital role consumer finance plays in the country’s economic and digital growth.

Smartphone adoption, appliance upgrades, and mobility access fuel productivity, improve quality of life and strengthen the Philippines’ position as one of Southeast Asia’s most dynamic consumer markets.

‘With our scale and expertise, Home Credit is not only serving individual customers but also contributing to economic activity,’ said Sheila Paul, chief marketing officer of HCPH. ‘We are on track to exceed last year’s performance and will continue supporting a new generation of Filipinos seeking access to technology, comfort, and convenience in everyday life.’

Home Credit Philippines is a financing company duly licensed and supervised by the Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP).

In support of the country’s shift toward modernizing the transport sector, CarBEV (Battery Electric Vehicle), a pioneer in electric vehicle (EV) fleet solutions, has partnered with AngCars, the four-wheel ride-hailing arm of Angkas, to introduce the Philippines’ first large-scale all-electric fleet for app-based mobility.

The alliance represents a key milestone in advancing sustainable transport solutions in the Philippines, with equal focus on environmental impact and driver empowerment.

Following the signing held last October 6, CarBEV and AngCars are set to officially launch their partnership on October 28 with the deployment of 50 brand-new Next Automatic Taxi of Bestune as the pilot fleet, setting a new benchmark for smart, efficient and zero-emission urban mobility.

‘This partnership with AngCars is more than a business move; it’s a step toward reshaping how Filipinos move,’ said Christian Bradley, CEO of CarBEV.

‘Our vision is to make electric mobility accessible to everyone, helping operators lower costs, enhancing the passenger experience, and contributing to the country’s sustainability goals.’

Empowering the people behind the wheel

For CarBEV, electrifying transport is just the beginning; the real mission is empowering the people behind the wheel. Through CarBEV’s Lease-to-Own program, drivers can get behind the wheel of brand-new electric vehicles with zero down payment, up to 70% lower monthly costs compared to traditional gasoline units, and full coverage on maintenance, insurance and roadside assistance.

The program allows drivers to focus on stable income opportunities while enjoying the long-term benefits of EV ownership. It also ensures they receive government-mandated benefits such as SSS, PhilHealth and Pag-IBIG contributions, giving drivers the stability of a secure and sustainable livelihood.

‘Driver empowerment is part of our DNA at Angkas,’ said Nur Laminero, head of AngCars.

‘Working with CarBEV lets us take that commitment further, helping our four-wheel drivers embrace sustainable mobility while improving their livelihood.

The collaboration reinforces the goals of the Electric Vehicle Industry Development Act (EVIDA), which advocates greener, more cost-efficient transport across the Philippines. By transitioning TNVS fleets from gasoline to electric, CarBEV and AngCars are leading the charge toward a transport system that benefits both the environment and urban commuters alike.

Toward a smarter, sustainable Philippines

The CarBEV x AngCars partnership represents just the beginning of a broader movement toward sustainable mobility in the Philippines. By 2026, CarBEV aims to expand its fleet to 1,000 electric vehicles, working closely with ride-hailing, logistics, and corporate partners to accelerate the country’s transition to cleaner transport systems.

‘We want every ride to make a difference, for the environment, for drivers and for passengers,’ said Bradley.

‘Our guiding principle is MiniMax (Minimum Expense, Maximum Comfort) because sustainability should never come at the cost of comfort or affordability. With partners like AngCars, we’re building a transport future where cleaner mobility also means better livelihoods and stronger communities.’

The Philippine Stock Exchange Inc. (PSE) has refuted claims circulating online about the market capitalization of listed companies, which the company believes are aimed at provoking investors to lose confidence in the country’s capital market.

‘The PSE would like to set the record straight once and for all on the true and correct market capitalization (MCAP) data of the listed companies in the PSE,’ the exchange said in a statement yesterday.

The PSE’s statement was made in response to a post last Oct. 10, 2025 on social media ‘by a pseudo-expert on the stock market,’ which it said ‘advanced the preposterous claim that the PSE has lost up to P5 trillion in market capitalization since December 2024.’

The PSE said that it tracks two types of MCAP – domestic and total.

Domestic MCAP includes the MCAP of the Philippine companies whose primary listing is at the PSE, while total MCAP includes domestic MCAP plus the MCAP of certain foreign companies dually listed in the PSE.

The PSE said that dually listed firms include Manulife Financial Corp. (traded on the Toronto, Hong Kong, New York and Philippine stock exchanges), Sun Life Financial Inc. (traded on the Toronto, New York and Philippine stock exchanges) and Del Monte Pacific Ltd. (traded on Singapore and Philippine stock exchanges).

Since only less than one percent of the outstanding shares of Manulife and Sun Life and less than five percent of Del Monte are lodged for trading in PSE, the exchange said that it uses domestic MCAP data as the MCAP reference number ‘since it more accurately captures the performance of the Philippine stock market.’

The PSE said domestic MCAP is down by P273.26 billion or 1.88 percent year-to-date.

Given the suspension of Senate and House hearings on the flood control mess to give way to the probe of the Independent Commission for Infrastructure, an opposition lawmaker renewed calls for the ICI to livestream its probe.

‘This is not what we expected from the ICI. When we say independent commission, it doesn’t necessarily mean it will have to do it by its lonesome, or they should do it solo,’ House Deputy Minority Leader and ML party-list Rep. Leila de Lima said over the weekend.

‘With the House infra comm joint inquiry already suspended, and no hearing yet scheduled by the Senate Blue Ribbon committee, Filipinos are eager to know the current status and the pacing of the investigation,’ she added.

The former senator and justice secretary also took a swipe at President Marcos amid the flood control controversy.

‘This hardheadedness of the ICI, is this also what the President really wants?’ she asked. ‘If he is one with the clamor for transparency, we call on the President to urge the ICI – created through his Executive Order 94 – to livestream its hearings.

‘A fact-finding body like the ICI, dealing with matters of such importance must be transparent and open. People need to know what’s happening to allay fears and dispel any suspicion of a potential cover-up or whitewash,’ De Lima warned.

Las Piñas Rep. Mark Anthony Santos echoed De Lima’s sentiments, emphasizing that publicizing the hearings ‘will promote transparency, accountability, and fairness.’

‘This is why the ICI should consider livestreaming its hearings – so that the people themselves can see what’s really happening. If only the proceedings were livestreamed, then no such thing could have happened,’ Santos said, pertaining to an alleged outburst of a former cabinet member during an ICI hearing last week.

‘Why the secrecy? It should be made public. The people have the right to know. It’s taxpayers’ money,’ he stressed.

A police team arrested a patrolman from the Police Regional Office-Bangsamoro Autonomous Region and a companion after selling to them two assault rifles and three pistols in an entrapment operation in Davao City before dawn Monday, October 13.

The suspect, Patrolman Muhammad Sidomar Gando of PRO-BAR’s Regional Mobile Force Battalion 14, and his civilian accomplice, initially identified only as James, are now locked in a detention facility of the Davao City Police Office.

Gando and his male companion were immediately detained after selling to plainclothes agents of the Police Regional Office-12 two 5.56 M4 combat rifles, two .45 caliber pistol and a 9 millimeter Beretta pistol during a tradeoff along Roxas Avenue in Davao City.

Talks and text messages have since been spreading in Cotabato City and Maguindanao del Sur and Maguindanao del Norte provinces, stating that Gando, an ethnic Maguindanaon, has relatives who are gunrunners operating in Central Mindanao.

One of the pistols he had sold to the non-uniformed policemen, the 9 millimeter Beretta, was marked Philippine National Police property.

Brig. Gen. Joseph Arguelles, director of PRO-11, said they are to prosecute Gando and his cohort for the violation of Republic Act 10591, also known as the Comprehensive Firearms and Ammunition Act which outlawed possession and sale of firearms and ammunition without permission from the government.

Brig. Jaysen De Guzman, director of PRO-BAR, said they will immediately file administrative charges against Gando to have him removed from the police service due to his criminal offense.

Central Visayas has become the testing ground for a new web-based sinkhole detection tool developed by the Mines and Geosciences Bureau (MGB).

This came just in time as the region continues to assess geohazard risks, especially after the magnitude 6.9 earthquake that struck northern Cebu on September 30.

The earthquake, caused by movement along the Bogo Bay Fault, claimed 74 lives and injured at least 559 people. Close to 80,000 homes and hundreds of infrastructures were also damaged.

The tremor also triggered thousands of aftershocks, some of which reached magnitude 5.1.

In response to the region’s vulnerability, the Department of Environment and Natural Resources (DENR) and MGB launched a pioneering application that automates preliminary sinkhole detection.

Spearheaded by the Lands Geological Survey Division (LGSD), the tool integrates manual digitization using National Mapping and Resource Information Authority’s (NAMRIA) topographic maps with automated geospatial analysis of satellite data and Digital Elevation Models (DEMs).

The manual digitization component involves identifying sinkholes using 1:50,000-scale Topographic Maps from the NAMRIA. This step establishes a baseline for comparing results obtained from automated analyses.

The automated process analyzes available DEMs and satellite images to delineate potential sinkholes and detect ground movement by observing changes in topography and ground deformation, according to the MGB.

The system identifies terrain anomalies, filters out non-geological features, and generates sink depth maps for validation by MGB geologists.

It is designed to reduce processing time during emergency hazard assessments and support karst subsidence susceptibility mapping.

Central Visayas, as per MGB, was actually selected due to its karst-rich geology and history of sinkhole activity, notably after the 2013 Bohol earthquake.

The new tool complements MGB’s ongoing efforts, which include remote sensing, geomorphological surveys, and Ground Penetrating Radar (GPR) studies.

This latest development is expected to improve disaster preparedness and geohazard resilience in one of the country’s most at-risk regions.

The Department of Education (DepEd) yesterday announced the suspension of face-to-face classes in all public schools in Metro Manila today and tomorrow amid increasing cases of influenza-like illnesses among learners and school personnel.

Jocelyn Andaya, DepEd-National Capital Region (NCR) director and concurrent officer-in-charge in the Office of the Assistant Secretary for Operations, said the two-day suspension of face-to-face classes is necessary to ensure the continuity of learning while prioritizing the health and safety of students.

‘To provide time for disinfection, sanitation and building inspection, all face-to-face classes in public schools in the National Capital Region are suspended on Oct. 13 to 14, 2025,’ Andaya said.

She added that during this period, schools shall implement alternative delivery modalities (ADM), either synchronous or asynchronous, as provided under DepEd Order 54, Series of 2012, to avoid disruption of learning.

‘All schools are directed to utilize the suspension period to conduct cleaning and disinfection of classrooms and common areas; carry out structural and safety inspections of school buildings and facilities; and prepare for the facilitation or implementation of drills on earthquake preparedness and other emergency protocols,’ Andaya said.

In Marikina, classes in all public and private schools will be suspended on Oct. 13 and 14 as a precautionary measure, Mayor Maan Teodoro announced yesterday.

The two-day ‘health break’ will cover all levels in both public and private schools, following the recommendation of the Marikina City Health Office.

During the suspension, schools will conduct extensive cleaning and disinfection to ensure a safe environment once classes resume.

Teodoro advised residents who are experiencing flu symptoms to rest at home, stay hydrated and seek medical consultation if necessary.

The country’s luxury property landscape continues to gain prominence, and in this niche market stands The Velaris Residences-a residential masterpiece in Bridgetowne, which has proven itself worthy to be called the best in this category.

The recent PropertyGuru Philippines Property Awards proudly announced The Velaris Residences North Tower as Best Condo Development (Philippines), Best Luxury Condo Development (Metro Manila) and Best Condo Interior Design-distinctions that affirm that it’s more than real estate, but a new standard of elevated living.

Is it because of the global expertise, partnerships, intentional design or a commitment to a lifestyle that goes beyond walls and ceilings? What exactly does it take to earn such recognition?

1. Born from a visionary partnership

Behind The Velaris Residences is RHK Land Corporation, the joint venture between Philippine real estate giant Robinsons Land and Hongkong Land. The collab merges local knowledge of the market with a legacy of world-class developments across Asia.

The global-local synergy in this debut project let RHK Land make its mark in the industry, collecting prestigious awards along the way and cementing its credibility among Philippine luxury residences.

2. Intentional design

In real estate, a strong design philosophy is the recipe not just for great awards, but for generations of happy clients.

The Velaris Residences believes that every space must be purpose-driven and enhance the lives of its residents.

The 40-story North Tower-an addition to the three-tower enclave-showcases this philosophy by offering one- to four-bedroom layouts that maximize natural light and provide seamless flow between spaces.

There are spacious indoor patios in the one- and one-and-a-half-bedroom units, blurring the line between indoors and outdoors. Then there are double-volume living spaces in four-bedroom, townhouse and penthouse suites, creating a sense of grandeur and openness not often seen even in this market.

Every unit is equipped with smart home technology, from biometric digital door locks to app-controlled lighting and air conditioning, as well as smart mirrors in larger units.

Privacy is so important that private lifts are included in two-bedroom units and above, with a 2:1 unit-to-elevator ratio for smaller residences.

Elegance is not only the finishing touch but the foundation. Natural stone, engineered wood and other premium materials are carefully applied, all while keeping the units versatile enough for discerning residents.

3. Top-notch amenities

The awards have also recognized The Velaris Residences for its unrivaled lifestyle offerings. Specially curated for leisure, wellness, productivity and community, the North Tower’s amenities rival those of five-star resorts.

Upon arrival, residents are greeted by a grand plaza and five exclusive lobbies-each promising privacy and calm.

For relaxation, there’s an indoor Japanese sento with wet and dry sauna on the fifth floor podium. Outside, residents can marvel at an outdoor sento and sculpture garden.

For those with active pursuits, The Velaris Residences has a badminton and pickleball court, a lifestyle gym with dance and cycling studios, an Olympic-length infinity pool and, of course, a golf simulator studio.

Enjoy the garden lounge with floating daybeds, or let the children play at the Kids Club. A treetop playground, camping grounds and a dedicated children’s pool, pool bar and family deck, banquet hall and a party pool with underwater seating complete the family-centric lineup of amenities.

The North Tower also responds to modern needs with a business lounge with meeting room and a creative studio, encouraging residents to embrace hybrid work in style.

Meanwhile, smart lockers, secure mailrooms and a residents’ portal app ensure seamless contactless living, from booking amenities to managing deliveries.

Crowning it all is the North Tower Velaris SkyClub on the 40th floor. This sanctuary in the clouds comes with a wine gallery, cigar room, private theater, casual and gourmet dining areas, SkyLounge, SkyBar and SkyDeck.

It’s up to the residents to enjoy it either as an escape or a stage for life’s grandest celebrations, right at home.

4. Location with lasting value

Awards also take into account the location. The Velaris Residences rises within Bridgetowne, an emerging 30-hectare township along the C5 corridor that links Quezon City, Pasig City and Taguig City.

The property stands beside two majestic landmarks-The Victor, a 200-foot art installation by world-renowned artist JEFRË, and the scenic Bridgetowne Bridge, designed by Mañosa and Co.

These icons contribute to the project’s long-term value, alongside the township’s master-planned mix of business and leisure spaces.

Investors and residents can be confident that the C5 growth corridor is poised to become a new megalopolis, with Bridgetowne as the centerpiece-ensuring that owning a unit at The Velaris Residences is not just a lifestyle statement, but also a sound, future-proof investment.

The Velaris Residences is a statement of how luxury real estate should be envisioned and executed in the Philippines. And with its three new PropertyGuru awards, it has once again proven that its approach doesn’t focus on aesthetics alone, but on creating an intentional and future-ready lifestyle.

Bad loans in the Philippine banking system climbed for a second straight month in August, reaching their highest level in nine months as rising consumer costs and slower business activity affected borrowers’ ability to pay.

The industry’s non-performing loan (NPL) ratio rose to 3.5 percent in August from 3.4 percent in July. It marked the fastest pace in three quarters or since the 3.54 percent in November 2024, according to the latest data from the Bangko Sentral ng Pilipinas (BSP).

Loans are classified as non-performing when unpaid for at least 90 days past their due date, posing a risk to banks’ asset quality as borrowers may default on these obligations.

In nominal terms, soured loans grew by 7.3 percent to P550.1 billion in August from P512.7 billion a year earlier.

Despite the increase, total loan disbursements continued to expand, rising by 9.8 percent to P15.71 trillion from P14.3 trillion in the same period last year.

The banking sector’s past due loans, which include all loans with delayed payments, increased by 9.8 percent to P693.1 billion in August from P631.42 billion a year ago.

Restructured loans, or those with modified terms to help borrowers repay, jumped by 12.2 percent to P328.92 billion from P293.16 billion.

Amid higher delinquency levels, banks boosted their loan loss reserves by 7.6 percent to P519.29 billion from P482.49 billion a year ago. This brought their loan loss reserve ratio to 3.31 percent and NPL coverage ratio to 94.4 percent, indicating that banks still have ample buffers to absorb potential defaults.

Credit watcher Moody’s Ratings earlier said that corporate NPLs in the Philippines remain below the systemwide average and provisioning levels continue to be sufficient to absorb potential shocks.

‘Supportive domestic operating conditions and a moderation in financing costs will help contain the increase of new corporate NPLs,’ Moody’s said.

Global investment bank J.P. Morgan likewise pointed to strong loan growth and robust asset quality as key supports for the sector, even as lower policy rates may compress banks’ net interest margins.

‘System NPL ratio remains between 3.5 and four percent, which is low given the double-digit credit growth,’ Jeanette Yutan, J.P. Morgan’s Philippines head of research, earlier said.

The banking system’s NPL ratio has stayed below 3.6 percent since November last year, supported by stable inflation and a series of rate cuts that improved borrowers’ repayment capacity.

The ratio peaked at 4.51 percent in July and August 2021, when the economy was reeling from the effects of the pandemic.