Category: Philippine Star

Maynilad Water Services [MYNLD pre-IPO] [link] reduced the maximum price for its initial public offering to P15 per share, from P20 previously, after securing commitments from two cornerstone investors: the International Finance Corp. (IFC) of the World Bank Group and the Asian Development Bank (ADB). The adjustment trimmed the value of MYNLD’s maiden share sale to P34.33 billion, from P45.8 billion before. Ramoncito Fernandez, company president, said IFC and ADB pledged to invest up to $245 million combined at as much as P15 per share. Fernandez added there were other cornerstone investors but declined to give details. MYNLD, which pushed back its target listing date to ‘not later than’ Nov. 7, 2025 from 31 Oct. 31, 2025, will announce its final offer price on Oct. 20, 2025.

MB bottom-line: IFC and ADB have an appetite for infrastructure plays that is not turned off by the sour taste of political risk. They aren’t on a three-to-seven year private equity timeline to deliver results. They’re not (generally) accountable to limited partners in the way that a private fund would be if a ‘prestige’ investment like this went back and lost the fund money. This price drop affirms my suspicion that market players are looking at this as a potentially ‘heavy’ offering. Bad timing (the market sucks, government is distracted). Weak story (it’s limping to market in order to comply with its concession agreement). I guess the silver lining is that MYNLD could pick up the Villar Family’s bulk water assets, but their recent quotes in response to that opportunity didn’t inspire confidence in MYNLD’s strategic approach to post-IPO growth. MYNLD might be a good investment for some under certain circumstances, but given what I know, I’m just not impressed with the risk/reward of what’s on offer, even at the new price.

The vivo V series is one of those smartphone series you don’t realize has grown so much until you look back.

It feels like yesterday when we were handling the vivo V30, impressed by its balance of style and camera prowess for its price. Fast forward to today-after a few generations and a couple iterations-vivo has quietly and consistently sharpened its focus.

With the arrival of the new vivo V60, that evolution feels it is at its current best form.

The V60 makes two bold claims: it’s a “Portrait Master” with its ZEISS co-engineered cameras, and an endurance champion with its 6,500mAh BlueVolt battery. So, on a recent work trip to Malaysia, I decided to put the new vivo V60 to the ultimate test. And the demanding coverage felt like the perfect trial ground.

After days of constant shooting, navigating and staying connected, the V60 didn’t just prove its claims; it demonstrated its strengths.

A battery and build made for the real world

The first and most impactful feature in a real-world scenario like a trip is the battery.

The V60’s 6,500mAh cell is a true game-changer. My days in Malaysia were long, often starting early and ending late. The phone was in constant use-for my non-stop snapping of photos, navigating maps, browsing and communication. Yet, I consistently ended each day with a comfortable power reserve, never once having to reach for a power bank.

The level of endurance removes the “battery anxiety” that so often dictates how we use our devices, especially when traveling.

When a top-up was finally needed, the 90W FlashCharge proved its worth, taking the battery from near-empty to over 60% in just 30 minutes-fast enough for a quick charge during a coffee break before heading out again.

Equally important was the phone’s durability. The IP68 and IP69 ratings for dust and water resistance offered genuine peace of mind, especially when it suddenly rains in the afternoon.

Knowing the phone could handle an unexpected downpour meant I could focus on the moment, not on scrambling to protect my device. It’s a practical feature that underscores the V60’s reliability as a daily driver.

Mastering portraits and distance with ZEISS

The camera and photography capabilities are something that the V series has continuously delivered well. This continues in the vivo V60.

Still co-engineered with ZEISS, the centerpiece of the V60 is its camera system, which truly shines for portrait shots, travel landscapes or even just simple point-and-shoot snaps.

The ZEISS Multifocal Portrait system was a particular standout. Being able to switch between classic focal lengths-23mm, 35mm, 50mm, 85mm, and up to 100mm-gives you so much creative power. It’s like having a virtual kit of five professional prime lenses in your pocket, each with a distinct character.

I found this incredibly useful for taking portraits of subjects I was too shy to get close to, as it still allowed me to get crisp and clear street portraits even from a distance.

The V60’s 50 MP ZEISS Super Telephoto Camera, complete with OIS, was another highlight that I particularly appreciated when I used the phone for event coverage.

Imagine snapping photos of speakers delivering a speech or performers on stage from afar, with unpredictable lighting that’s entirely out of your control. The dedicated Telephoto Stage Mode was invaluable in these situations; its “Stage Style” setting helped ensure subjects didn’t get washed out, delivering clear shots even from the back row.

Also making a welcome return is the upgraded Aura Light. It remains a fantastic tool for low-light situations, providing a soft, even illumination that’s perfect for food shots and portraits.

It also avoids the harsh, washed-out look of a traditional flash, making your photos look more natural and professionally lit.

AI features both useful and fun

Beyond the hardware, vivo has integrated a powerful suite of post-production tools called the “AI Image Studio” directly into the phone. During my trip, I had fun trying out AI-powered features.

AI Erase 3.0 feature was a lifesaver for removing an accidental photobomber from an otherwise perfect shot with just a few taps. I also tested the AI Four-Seasons Portrait mode, which transported me to different seasons in just one location.

Other AI features that I feel would be highly useful are the Image Expander, which can come in handy for those times you frame a shot too tightly, as well as the AI Magic Move that lets you reposition a subject within a photo after it’s been taken.

vivo V60: Made to capture, built to last

The vivo V60 zeroes in on two of the most critical needs of today’s content-savvy user: a truly professional-grade portrait camera and a battery that simply refuses to quit.

Inside, it’s powered by the Qualcomm Snapdragon S7 Gen 4 chipset paired with up to 16GB of RAM. I can say this is very capable mid-range processor to deliver a smooth and responsive experience for daily use-social media, streaming videos and some multi-tasking in between apps.

In this aspect, the vivo vV60 is capable and pretty smooth as you’d expect it to be-more than sufficient for most users would actually need.

Looks-wise? It doesn’t disappoint either. The color Berry Purple is a sexy color that anyone can pull off. Plus, it feels sleek and comfortable in the hand, you wouldn’t think a tough battery is inside. Additionally, the 6.77-inch AMOLED display is sharp and vibrant, with a 120Hz refresh rate.

Now, all these, plus a ZEISS-powered system that puts a studio in your pocket and a massive 6,500mAh BlueVolt battery, the V60 is a specialist that excels where it matters most. It’s a compelling companion for travel and photography, and for any user whose primary concerns are portraits and long battery life.

For anyone who lives life through their camera lens, the vivo V60 is a worthy pick. The vivo V60 is now available in the Philippines with a starting price of P28,999.

The use of temporary and improvised license plates will be prohibited beginning Nov. 1, the Land Transportation Office said yesterday.

LTO chief Vigor Mendoza II said the ban would be enforced as the agency cleared the backlog of license plates for motorcycles and four-wheel vehicles.

‘For those who have not yet claimed their license plates, we advise them to do so to avoid any inconvenience once the policy is implemented,’ he said.

Mendoza said motorists should no longer use improvised or temporary plates since there is no more backlog.

Under Joint Administrative Order 2014-001, violators face a fine of P5,000 and confiscation of the temporary or improvised license plates.

Motorists using such plates will not be accepted for registration renewal.

Mendoza, however, clarified that improvised plates may still be allowed if these are properly authorized by the LTO office that processed a request for a duplicate plate.

The University of the Philippines-Mindanao and its student council are pushing for higher funding for the UP system as they expressed alarm over budgetary cuts in the education sector, particularly in UP-Mindanao.

In a joint statement, UP-Mindanao and the student council noted that for the 2026 National Expenditure Program (NEP), only P25.82 billion was approved for the UP system.

The figure was way below the P46.85 billion proposed by the UP Board of Regents, they said.

‘This P21 billion deficit serves as a major threat to the development of the university and compromises basic student services as well as the welfare of constituents across UP campuses,’ UP-Mindanao and the student council said.

The budget allotted for UP-Mindanao is among the lowest in the UP system, they said, noting a long-standing struggle for adequate resources since the university was established.

For the 2025 budget in infrastructure development, the university was allocated a mere P25.9 million, a sharp drop from P140 million allotted last year.

Based on the 2026 NEP released by the Department of Budget and Management, only P16.18 million was approved for UP-Mindanao.

The state university and the student council said the drastic reduction in the proposed budget would hinder institutional development.

UP-Mindanao said the budget cuts have resulted in inadequate student services, insufficient campus amenities, and lack of personnel, classrooms and organization areas as well as constrained research capabilities.

‘While the university and the system’s Board of Regents remain committed to the ‘Road to 5,000 Students’ project and expanding access to quality education for more Mindanao youth, the sharp decline in funding poses a significant barrier to achieving such goals,’ the state university said. ‘The misprioritization of funding is a clear manifestation of the state’s neglect of the education sector.’

Seventeen people were injured when their jeepney fell off a cliff in this town on Wednesday afternoon.

Initial investigation showed the vehicle was traveling in Barangay Pinagsakayan when it figured in the accident at around 2 p.m.

Probers said the jeepney’s brakes malfunctioned as the driver was negotiating a winding portion of the road.

All injured victims including the driver were taken to different hospitals for treatment.

What a difference a round makes.

Bianca Pagdanganan looked poised for a weekend stint after opening with a solid 69 at the Lotte Championship, but a disastrous second round 77 dashed her hopes of a strong finish in the $3-million event at the Hoakalei Country Club in Ewa Beach, Oahu, Hawaii.

The power-hitting Filipina was in strong contention after 18 holes, sitting tied for 25th and carrying momentum into the second round. She even opened with a birdie on the first hole to underline her intentions. Despite a bogey on the par-5 No. 5, she bounced back with another birdie on the 10th to stay at two-under overall through 15 holes.

But disaster struck on the par-4 16th.

Pagdanganan holed out with a rare quadruple bogey – an 8 – that derailed her round and effectively ended her weekend hopes. She settled for pars on the final two holes to post a back-nine 41 and a 77 overall, finishing with a two-round total of 146 – three strokes short of the 143 cutline.

It was another missed opportunity for Pagdanganan, who has been eyeing a strong performance after several early exits this season. Her second-round stats reflected her struggles – she hit eight fairways and reached 13 greens in regulation, but her putting faltered. After needing just 28 putts in the first round, she struggled with 34 on Friday.

Two-time US Women’s Open champion Yuka Saso also bowed out early, carding an 81 to finish at 158.

Meanwhile, Jessica Porvasnik surged to the top of the leaderboard with a scorching 65, overtaking Japan’s Akie Iwai. Porvasnik heads into the weekend at 12-under 132, holding a slim lead in the tightly contested tournament.

Department of Transportation (DOTr) is readying a directive that will allow the co-designing of a public transport system framework involving various sectors and underrepresented end users to address the challenges in public commuting and mobility.

At the Philippine Mobility Summit 2025, DOTr’s Supervising Transportation Development Officer Lucas Mangulabnan said the department’s order hoped to engage more people in the crafting of the framework for effective solutions to the country’s public transport system woes.

‘So, we’re pushing for this to be enacted as a Department Order to transform the way we work in the department. We hope that other implementing agencies can catch on as well and that we’re currently refining the legal aspect of the department order, and hopefully this will be rolled out soon,’ Mangulabhan told the forum recently.

According to Mangulabnan, the DOTr hopes to include persons with disabilities (PWDs), senior citizens, women, expectant mothers, small children, people with children, LGBTQ folk, people carrying heavy or bulky luggage, and other underrepresented end-users, or what he called the accessibility or inclusion reference group (AIRG), in the formulation of the framework.

The AIRG, he said, will function as an independent consultative group that will be ‘regularly and intimately involved’ in co-designing ‘with the technical consultants and experts in conducting the feasibility study and preparing detailed engineering designs for passenger facilities and conveyances while providing direct feedback and alternative solutions for the implementing agency to consider.’

Grab, which sponsored the Philippine Mobility Summit 2025, said people’s involvement in the crafting and designing of the government’s transportation and mobility plans was a step in the right direction.

‘To hear civilian voices, to enable the exchange of ideas, to co-create solutions to make mobility in the Philippines better is the appropriate approach because they are the ones who experience first-hand the problems or shortcomings during their daily commute. They are the ones who can identify issues and what can be done to address these effectively,’ said Grab Philippines’ Booey Bonifacio.

Mangulabnan admitted that experts and consultants usually involved in the planning and implementation of transport infrastructure projects were not regular riders of jeepneys, buses, nor motorcycle taxis – a situation wherein accessibility and inclusion in the public transport framework ‘tend to get lost’.

The co-design framework that the transportation department is developing hopes to make interactions happen between the AIRG, ‘people with lived experience,’ and technical experts and implementing agencies.

‘The government cannot do it alone and when it’s in place, we’re very much looking forward to seeing more involvement and active participation from the public in the delivery of our transport projects. It is public money, after all,’ Mangulabnan said.

The Philippine Mobility Summit, held recently at One Ayala in Makati City, is the culmination of the ‘Philippine Mobility Series,’ which discussed road safety, inclusive urban public spaces, low-cost mass transit, and transport transformation from April to August.

The first-ever such summit in the country was presented by AltMobility PH and co-presented by the DOTr, supported by the Move As One Coalition, and sponsored and co-sponsored by Grab, Ayala and GIZ, and The Asia Foundation and Ayala Land, respectively.

DDMP REIT [DDMPR 1.05 unch; 98% avgVol] [link] declared a Q2/25 dividend of P0.023702/share, payable on Nov. 26, 2025 to shareholders of record as of Sept. 30, 2025. This dividend is 2.8% bigger q/q and 0.6% higher on a y/y basis. The total amount of the dividend is P422.5 million, which is 90% of the P467.82 million in distributable income that DDMPR declared for the quarter in its dividend declaration filing.

MB bottom-line: The discrepancy between the distributable income claimed by DDMPR in its dividend declaration and as revealed through its Quarterly Reports is still an open question for me. Does anybody have an explanation for this? For example, so far, DDMPR has declared a P411 million Q1 dividend and a P422 million Q2 dividend, for a total of approximately P833 million in H1/25 dividends. Its Q2 Quarterly Report says that it has earned P830 million in H1/25 distributable income. Its dividend declarations say that it has earned P901 million in distributable income (P467M + P434M). Relative to its Quarterly Report, DDMPR has distributed marginally more than 100% of its distributable income for the period. Relative to the statements from its dividend declarations, which don’t appear to tie to the Quarterly Reports, DDMPR has distributed 92.5% of its distributable income for the period. What am I missing?

The Department of Tourism (DOT) confirmed widespread disruption in Central Visayas’ tourism sector following the magnitude 6.9 earthquake on September 30, affecting more than 700 workers and forcing the closure of dozens of heritage sites, resorts, and cultural institutions.

In its Public Advisory No. 2, the DOT reported that at least 711 tourism workers-from hotels, resorts, restaurants, travel agencies, and transport services-have seen their employment and income disrupted.

Eighty tourism establishments were directly affected, with damage ranging from minor cracks to total collapse.

Among the hardest-hit sites is the Archdiocesan Shrine of Santa Rosa de Lima in Daanbantayan, which suffered 70 to 80 percent structural loss. San Isidro Labrador Church in Tabogon collapsed at the façade and roof, while Sts. Peter and Paul Parish in Bantayan sustained partial damage to its heritage structure. San Francisco de Asis Parish in Balamban reported cracks and fallen statues.

In San Remigio, the Capelinha de Fatima Replica was severely damaged, while San Juan Nepomuceno Parish recorded ceiling damage, wall cracks, and fallen images. San Ignacio de Loyola Church in Medellin reported a full ceiling collapse. The Ala Mercedes Golf Course was rendered inoperable, and the Medellin Tourist Rest Area sustained roof and wall damage, including an A/C collapse.

In Bantayan Island, the Bontay Walk in Madridejos was closed due to damaged footbricks.

In Cebu City, cultural institutions including Museo Sugbo, Casa Gorordo, the Kabilin Center, the National Museum of the Philippines-Cebu, and the Yap-Sandiego Ancestral House suspended operations pending inspection.

In Bohol, Hinagdanan Cave and the National Museum-Tagbilaran have been closed for safety assessment.

Accommodation facilities were also affected. Nustar in Cebu City reported severe damage, including a collapsed canopy and wall breaches, prompting the evacuation of 337 guests. Bayfront Hotel Cebu – North Reclamation sustained partial floor damage from the sixth to tenth floors. Radisson Blu reported hairline cracks in its ballroom and lobby, though guest rooms remained unaffected.

In northern Cebu, several resorts in San Remigio-including Pofer Beach Resort, Maayo San Remigio, Siete Beach Resort, Hagnaya Beach Resort, Orongan Beach Resort, and Sonrisa de Playa-ceased operations due to moderate to severe damage. San Remigio Beach Club remains under inspection. Ogtong Cave Resort in Bantayan was also closed due to rockfalls. In Bogo and Medellin, Northhomes Pensione and Woody’s Beach Resort were shuttered due to structural damage.

DOT-7 has deployed field teams to assist affected establishments and distribute medical kits and drinking water.

Of the 15 tourists initially reported stranded, eight were relocated to Cebu City, while six chose to remain in Bantayan Island until ferry services resume. One foreign guest in Bogo City is receiving direct assistance from DOT personnel.

In the Negros Island Region, light to moderate shaking was recorded in several towns, with the strongest tremors felt in Murcia, Negros Occidental. Minor incidents such as fallen objects and cracked plaster were noted. In Siquijor, coastal towns including Larena, San Juan, and Lazi reported Intensity III to IV tremors.

The DOT said it continues to coordinate with LGUs, disaster response teams, and tourism stakeholders to ensure traveler safety and expedite restoration efforts.

Several provincial and local governments suspended classes and government work ahead of Severe Tropical Storm ‘Paolo,’ which is forecast to bring heavy rains and strong winds on Friday, October 3.

According to PAGASA, Paolo strengthened into a severe tropical storm at around 8 p.m. Thursday, October 2, and was last located 340 kilometers east of Baler, Aurora. It is packing maximum sustained winds of 95 kilometers per hour (kph) and gusts of up to 115 kph.

The storm is moving westward at 30 kph and is projected to make landfall over Isabela or northern Aurora on Friday morning. It may still intensify into a typhoon before landfall.

As of 11 p.m. on Thursday, Wind Signal No. 3 was raised in several areas in Aurora, Isabela, Quirino, Nueva Vizcaya, Mountain Province, Ifugao, and Benguet, where storm-force winds are expected within 18 hours.

While Metro Manila, Central Luzon, Calabarzon, Bicol, Panay Island, Marinduque and Romblon are not under any wind signal, the state weather bureau said they may experience gale-force gusts on Friday due to Paolo’s strength.

While most local governments imposed class suspensions due to the tropical storm, some provinces will be observing a provincial teachers’ day on Friday.

Here is a list of class suspensions according to the Philippine Information Agency (PIA).

Ilocos Region

Ilocos Norte

Solsona – all levels (public and private)

Ilocos Sur

Tagudin – all levels (public and private), including government offices

Narvacan – all levels (public and private), including government offices

La Union – all levels (public and private)

Pangasinan – all levels (public and private)

Dagupan City – all levels (public and private)

Cordillera Administrative Region

Abra – all levels (public and private), shift to Alternative Delivery Mode

Apayao – all levels (public and private), in observance of Provincial Teachers’ Day

Benguet – pre-school to senior high school (public and private)

Baguio City – all levels (public and private) in observance of Teachers’ Day, including government work starting 12 p.m. due to Paolo

Kalinga – kinder to junior high school (public and private)

Mountain Province – special non-working day in observance of Provincial Indigenous People’s Day

Ifugao

Mayoyao – all levels (public and private)

Lamut – kindergarten to junior high school (public and private)

Banaue – all levels (public and private)

Lagawe – pre-school to senior high school (public and private)

Central Luzon

Nueva Ecija – all levels (public and private)

Aurora – all levels (public and private), including government offices

Pampanga

Angeles City – kindergarten to senior high school (public only)

Tarlac

Paniqui – all levels (public and private) in observance of Teachers’ Day

Camiling – all levels (public and private) in observance of Teachers’ Day

Zambales

Palauig – all levels (public and private), including alternative learning system

Masinloc – all levels (public and private)

Cagayan Valley

Cagayan

Aparri – all levels (public and private)

Baggao – all levels (public and private)

Tuguegarao City – all levels (public and private)

Peñablanca – all levels (public and private)

Sto. Niño – all levels (public and private)

Iguig – all levels (public and private)

Sta. Praxedes – all levels (public and private)

Allacapan – all levels (public and private)

Lasam – all levels (public and private)

Amulung – all levels (public and private)

Solana – kindergarten to senior high school, including alternative learning system (public and private)

Rizal – all levels (public and private)

Abulug – all levels (public and private)

Gattaran – all levels (public and private)

Ballesteros – all levels (public and private)

Claveria – all levels (public and private)

Sanchez Mira – pre-school to kindergarten (public and private)

Pamplona – pre-school to kindergarten (public and private)

Isabela – all levels (public and private), including government offices

Santiago City – all levels (public and private), including government offices

Nueva Vizcaya – all levels (public and private)

Calabarzon

Quezon

Lopez – all levels (public and private)

Batangas

Tuy – all levels (public and private)

Lian – all levels (public and private)

Lemery – all levels (public and private)

Balayan – all levels (public and private), shift to online or Modular Distance Learning

Nasugbu – all levels (public and private), shift to online or Modular Distance Learning

Calatagan – all levels (public and private), shift to onlien or Modular Distance Learning

Central Visayas

Lapu-Lapu City – all levels (public and private) due to the 6.9-magnitude earthquake, shift to Alternative Delivery Mode

Cebu

San Fernando – all levels (public and private) due to the 6.9-magnitude earthquake, shift to Alternative Delivery Mode

Talisay – all levels (public and private) due to the 6.9-magnitude earthquake

Bicol Region

Masbate – all levels (public and private) due to tropical cyclone “Opong” until October 4. The province is under a state of calamity.