Category: Philippine Star

Security Bank Corp. has named seasoned Singaporean banker Victor Lee Meng Teck as its next president and CEO, marking a key leadership transition for the 74-year-old lender.

In a disclosure to the Philippine Stock Exchange yesterday, the bank said Lee would formally assume the top post in early January 2026, pending completion of his work permit, visa and other regulatory requirements.

He will succeed Sanjiv Vohra, who will continue to lead Security Bank until the transition and will thereafter serve as senior advisor to the board.

‘I’m honored to be entrusted with this responsibility,’ Lee said. ‘Security Bank has built a strong reputation for customer-centricity, innovation and its distinct BetterBanking experience.’

‘I look forward to working with Sanjiv, the Board and all employees to continue building on this foundation and delivering sustainable growth for our stakeholders,’ he added.

Lee brings over three decades of banking leadership across Asia. He previously served as CEO of CIMB Singapore and CEO of Growth Markets for CIMB Bank Berhad.

At CIMB Singapore, he ‘spearheaded a period of strong growth, doubling revenue and raising return on equity to nearly 20 percent,’ the bank said.

Vohra, who took the helm in 2019, just months before the onset of the global pandemic, steered the listed bank through a period of transformation that strengthened its digital capabilities and customer-first strategies.

‘Our journey over the past six years has been one of total transformation – reimagining Security Bank from front to back,’ Vohra said.

Security Bank chairman Cirilo Noel thanked Vohra for his ‘steady leadership during one of the most challenging periods in recent history,’ saying his vision has left the bank ‘stronger, more resilient and well-prepared for the future.’

Actress Ellen Adarna was in fangirl mode after being noticed by “Meteor Garden” star and original F4 member Ken Chu.

Ellen had uploaded on her TikTok account, and later reposted on Instagram, a video of her lip syncing to F4 song “Jue Bu Neng Shi Qu Ni.”

“Learn Chinese or trust men,” Ellen wrote in the video’s text. In the captions for both posts, the actress referenced Daoming Si played Ken’s co-star Jerry Yan.

On Instagram, Ellen also proceeded to tag the Instagram handles of Jerry, Ken, and the other F4 members Vic Chou and Vanness Wu.

“I don’t trust you guys but F4 is 4ever,” she humorously added.

Much to Ellen’s surprise, Ken commented on the actress’ Instagram post with a raising hands emoji, and it was enough to send Ellen spiralling.

“Ahhhhhhhhh!!!!! Wo ai ni !!!!” Ellen replied, saying “I love you” in Mandarin. “Hahahaahahahaahahahahhaahhahahahaahahjajahajajahaahahhahahahahaahahh omg ahahahhahhahahaah omg omg omg.”

The text in Ellen’s video fuelled more speculation that she separated from husband and fellow actor Derek Ramsay.

However both Ellen and Derek have denied such rumors on two separate occasions.

Filipinos abroad are encouraged to invest in the Philippine capital markets, with real estate investment trusts (REITs) seen as a compelling entry point for overseas Filipino workers (OFWs) seeking stable and long-term investments.

Systembrand Group, a multidisciplinary agency that delivers integrated solutions across branding, design, communications and investor relations to clients across various industries globally, stated that among the REITs gaining traction are Ayala Land REIT (AREIT), RL Commercial REIT, Megaworld REIT, Citicore Energy REIT and Filinvest REIT.

It said the market capitalizations and dividend yields of these REITs indicate solid valuations to prospective OFW investors.

In particular, the group said that AREIT, the first REIT registered with the Philippine Stock Exchange (PSE) in 2006, is expected to sustain its strong financial trajectory under the new leadership of former Ayala Corp. chief finance officer Alberto de Larrazabal.

Its planned P21 billion asset infusion will expand its leasable area to 4.3 million square meters and boost its assets under management to P138 billion, with cash dividends up by 44 percent to P1.17 per share.

With their simplified investment process and mandated dividend payouts, REITs present a practical way for small-scale investors to participate in the growth of income-generating real estate assets, Juan Martin Buñag, Systembrand Group’s representative in Madrid, said.

Buñag, who is also managing director of Investor Relations Global (IRG), said that REITs allow retail investors, especially OFWs, to earn regular income through dividends while gaining exposure to a diversified portfolio of assets.

These range from residential condominiums and high-rise office buildings to hotels, malls, warehouses and export processing zones.

Investors become part owners of these properties without needing to purchase them outright, benefiting from the income they generate, Buñag said.

Buñag said that OFW participation in REITs aligns with the PSE’s broader push to democratize access to the stock market.

PSE president and CEO Ramon Monzon earlier cited the need to attract overseas Filipinos to invest in domestic securities, saying that only a small percentage of them hold stock market accounts.

Systembrand Group is pushing to engage overseas markets and empower OFWs as long-term participants in the Philippine capital market through the group’s Europe-based initiative for engaging overseas markets called Conectando Filipinas.

Conectando Filipinas estimates that if just 14,000 of the 182,191 OFWs in Europe invested 20 percent, or $60, of their monthly $300 remittances, the resulting trade value could reach $840,000, or approximately P42 million, from new investors.

Such potential underscores the importance of sustained engagement, according to the Systembrand Group.

Buñag said that discussions, events and roadshows with overseas Filipinos would help increase global interest in Philippine capital markets and attract more foreign capital.

The Philippines’ trade gap in August narrowed to its lowest level in six months as exports increased while imports declined, according to the Philippine Statistics Authority.

PSA data showed that the balance of trade in goods, or the difference between the value of exports and imports, amounted to a $3.54-billion deficit in August, 19 percent lower than the $4.4 billion shortfall in the same month last year.

The August trade gap was narrower than the $4.42-billion trade deficit in the previous month.

It was also the smallest trade gap posted since the $2.97 billion shortfall in February.

From January to August, the country’s trade deficit narrowed to $32.38 billion from $34.33 billion in the same period last year.

PSA data also showed that the country’s export sales rose by five percent to $7.06 billion in August from $6.75 billion in the same month a year ago.

Dollar earnings from electronic products, the country’s top export commodity, went up by 8.5 percent to $3.87 billion in August from $3.57 billion in the same month in 2024.

Hong Kong dethroned the United States as the country’s top export market, accounting for 17 percent or $1.19 billion of the total in August.

From January to August, Philippine exports grew by 13 percent to $55.7 billion from $49.45 billion in the same period last year.

Meanwhile, PSA data showed that the country’s imports declined by five percent to $10.6 billion in August from $11.15 billion in the same month last year.

The PSA reported that imports of mineral fuels, lubricants and related materials experienced the largest decline, reaching only $611.83 million in August.

China remained the largest supplier of the country’s imported goods, amounting to $3.19 billion, or 30 percent of the total, in August.

From January to August, the country’s total imports climbed by five percent to $88.08 billion from $83.78 billion in the same period a year ago.

Philippine Institute for Development Studies senior research fellow John Paolo Rivera said in an email that the latest trade performance may be due to weak import demand amid slower domestic activity and the tapering off of pre-tariff frontloading.

Exporters were frontloading shipments to the US to avoid the reciprocal tariffs that took effect on Aug. 7.

Chinabank Research stated in a commentary that the latest export performance indicates that tariffs are beginning to weigh on external demand.

‘This underscores the need to further diversify export markets, especially with the possibility of additional US tariffs on the horizon,’ Chinabank Research said.

Rivera said that downside risks remain due to global uncertainties and tighter financial conditions.

‘A sustained trade recovery will depend on export diversification and improving logistics competitiveness,’ he said.

The Supreme Court has effectively reset the first regular parliamentary elections for the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), ordering the polls to be conducted no later than March 31, 2026.

In a press briefing on Wednesday, October 1, Supreme Court Spokesperson Camille Ting said that the high court’s en banc session on Tuesday, September 30, declared two regional laws governing parliamentary districts-Bangsamoro Autonomy Act (BAA) 77 and BAA 58 -unconstitutional.

The high court also said that the parliamentary elections previously scheduled for October 13 cannot proceed due to the lack of a valid legal framework for defining electoral districts.

However, it ordered the Commission on Elections to proceed with preparations and conduct the first regular elections for the Members of the Parliament not later than March 31, 2026.

BAA 77 Voided. The Supreme Court also declared unconstitutional the BA77, the act which reorganized parliamentary districts to reallocate seats originally assigned to Sulu, was passed on Aug. 19, 2025, and signed on Aug. 28, 2025.

According to Ting, the act violated Section 5 of the Voters Registration Act, which prohibits the alteration of precincts once the election period has commenced.

She said that the act violated the Bangsamoro Organic Law requirement that districts must comprise adjoining areas.

‘Some local government units in Lano del Sur, Maguindanao del Norte, and Cotabato City were assigned to different districts that were neither contiguous nor adjacent,’ Ting said.

BAA77 reorganizes parliamentary districts within the BARMM to reallocate seats originally intended for Sulu, after the Supreme Court declared that it was not part of the BARMM.

BAA 53 was also voided. The Supreme Court also declared BAA 58, the Bangsamoro Parliamentary Districts Act of 2024, unconstitutional.

According to Ting, the high tribunal ruled that the nullification of BAA 77 does not revive the earlier law because BAA 58’s framework is now outdated.

BAA 58 still included Sulu in its parliamentary districts, a provision inconsistent with subsequent rulings removing Sulu from BARMM.

‘Since BAA 58 is based on an outdated framework following the removal of Sulu from BARMM, it cannot be reinstated,’ Ting said.

‘Rather, a new and valid districting law must be passed consistent with the Bangsamoro Organic Law, national laws, and the Constitution,’ she added.

The Supreme Court also has issued a mandate requiring the Bangsamoro Transition Authority to immediately determine and finalize the new parliamentary districts, ensuring full compliance with the Bangsamoro Organic Law and the court’s specified criteria by Oct. 30, 2025.

A police team arrested an elusive criminal gang leader from Lanao del Sur on Sunday, September 28, in Midsayap, Cotabato; he was known for sharing proceeds from his illegal activities with the Dawlah Islamiya terror group.

Officials of the Police Regional Office-12 told reporters on Tuesday, September 30, that agents of the Criminal Investigation and Detection Group-Bangsamoro Autonomous Region (CIDG-BAR) cornered in Midsayap the long-wanted Jamal Sadang, who is facing high-profile criminal cases pending in different courts in Lanao del Sur province in the Bangsamoro Autonomous Region in Muslim Mindanao.

Police Brig. Gen. Jaysen De Guzman, director of the Bangsamoro regional police, said on Tuesday that Sadang is now locked in the detention facility of the CIDG-BAR at the PC Hill in Cotabato City, the capital of BARMM.

Sadang is a known leader of an armed gang involved in motorcycle theft, extortion and large-scale peddling of shabu in different towns in the second district of Lanao del Sur.

Officials of Army units under the 103rd Infantry Brigade covering Lanao del Sur told reporters on Tuesday that Sadang has links with certain commanders of the now weakened Dawlah Islamiya, who provided him sanctuary in exchange for money whenever he is subjected to extensive manhunts by police teams under the Police Regional Office-Bangsamoro Autonomous Region.

De Guzman said it was local officials and traditional Maranao leaders in Lanao del Sur who reported to officials of the CIDG-BAR the presence of Sadang in Midsayap, enabling them to track him down in the municipality and serve the warrants for his arrest.

The operation that led to his arrest was assisted by officials from the Midsayap Municipal Police Station and the Cotabato Provincial Police Office, both under PRO-12’s director, Brig. Gen. Arnold Ardiente.

At least four uniformed personnel were killed during the collapse of the San Remegio Sports Complex during the deadly magnitude 6.9 earthquake that hit Cebu on Tuesday, September 30.

The Bureau of Fire Protection (BFP) announced the death of 31-year-old FO2 Allier Vincent Catadman. Catadman, a firefighter assigned to the San Remigio Fire Station, was killed during the quake.

‘He died in the line of duty following the collapse of the San Remigio Sports Complex during the magnitude 6.9 earthquake. We honor his service, bravery, and sacrifice. Our thoughts and prayers are with his family, especially his wife and young child,’ the BFP said in a statement.

The Philippine Coast Guard (PCG) also confirmed that at least three of its personnel were killed in the same sports complex. Seaman Second Class Lawrence Palomo, Apprentice Seaman Jujay Mahusay, and ASN Ert Cart Dacunes died when the San Remigio Sports Complex collapsed.

The PCG said the three personnel were rushed to Bogo General Hospital for treatment, but were all eventually pronounced dead.

“We extend our sincere condolences to the families of our fallen personnel. Their dedication to the service and camaraderie with our fellow uniformed men and women will always be remembered. The PCG stands in full solidarity with their loved ones and will ensure that they receive the utmost support,’ PCG Commandant Admiral Ronnie Gil Gavan said.

Despite the tragedy, more PCG personnel and other uniformed workers have been deployed on the ground for rescue efforts in Cebu.

The earthquake has killed at least 60 people, according to the Office of the Civil Defense, with around 154 others injured.

Cebu province has declared a state of calamity following the deadly quake.

Critical infrastructure has been damaged, including several roads and bridges. A number of historical churches have also sustained damage.

Despite the tragedy, more PCG personnel and other uniformed workers have been deployed to assist with rescue efforts in Cebu.

The Bureau of Customs (BOC) has seized nearly P35 billion worth of smuggled goods from January to August, underscoring the agency’s intensified border control operations and continuing efforts to curb illicit trade and protect government revenues.

Carrying out 653 seizure operations, the border patrol bureau said it has confiscated P34.73 billion worth of smuggled goods during the eight-month period.

The collection on seized items is only 41 percent of last year’s full year record of P85.16 billion.

BOC Assistant Commissioner Vincent Maronilla explained that last year’s figures were largely driven by letters of authority, which have now been suspended, noting that many of the operations involved were conducted outside the bureau.

‘Now we look at the complaints, when that is back, we are not keen on catching up. I think whatever the figure is, what’s important for us is the industry feels we’re doing something and there’s a reduction of the effect of smuggling in their fields,’ Maronilla said.

Letters of authority are official BOC directives that empower customs officers to carry out specific enforcement actions, such as requesting proof of duty and tax payments on imported merchandise.

In July, BOC Commissioner Ariel Nepomuceno halted the execution of all previously approved letters of authority that had not yet been served.

Maronilla said they are reviewing and streamlining safety measures for the issuance of letters of authority to prevent potential abuse based on intelligence reports.

‘Especially in the intellectual property, most particularly agriculture and the tobacco and vape industry,’ he said, referring to stronger patrols in several industries.

According to the report, the top five highest-valued seized commodities were various goods worth P20.16 billion and wildlife and natural resources at P4.78 billion.

Also among the most confiscated smuggled goods were illegal drugs valued at P4.6 billion, cigarettes, tobacco, and vape products worth P2.1 billion, along with counterfeit items amounting to P1.4 billion, according to the BOC.

Still in the eight-month period, the BOC has revoked the accreditation of 40 erring importers and customs brokers as part of its crackdown on trade law violators.

Gokongwei-led real estate developer Robinsons Land Corp. (RLC) plans to open more ‘work.able’ centers across its developments to address the growing demand for flexible workspaces, including in the provinces.

RLC, through its office development and leasing arm Robinsons Offices, recently opened its 14th work.able center at the GBF Center 1 in its Bridgetowne Destination Estate in Pasig and Quezon City.

RLC senior vice president and business unit general manager Jericho Go said that several more work.able centers are in the company’s pipeline, including at least three more within the year.

For next year, Go said that the company ‘will definitely build more,’ with work.able’s future expansion to include provincial locations as well.

‘That’s the plan because some of the demand is coming from the province already. So still Metro Manila, but also demand in the province,’ he said.

‘Be assured that we will continue to grow the business because there is demand for it. So we are not growing it for the sake of growing it. We have received demand for provincial work.able sites where we have a presence in as Robinson Land. So it will really depend on the demand, but as much as we can, we would like to have that presence to be able to bring offices closer to where people live,’ Go said.

Robinsons Offices intends to expand the work.able brand to high-growth areas to reinforce its position as a trusted partner for businesses and a catalyst for growth in the country.

Robinsons Offices’ work.able provides plug-and-play and build-to-suit workspaces, catering to clients seeking private offices, co-working spaces, conferencing facilities and event venues.

‘We are very demand-driven. So, we look at and listen to what the market needs, and then we supply it, because we also want to be conscious of our capital expenditures. We don’t want to speculate. We want to make sure that there’s a demand for space and then get into that space and serve that demand,’ Go said.

Robinsons Offices has also recently inaugurated GBF Center 2, a 30-story premier office development that will serve as a strategic gateway for global firms seeking a future-ready address in Metro Manila.

The 30-story premier office development in Bridgetowne Destination Estate will serve as a strategic gateway for global firms seeking a future ready address in Metro Manila, with each floor offering 2,800 square meters of flexible office space designed to cater to tenant layouts and evolving business needs.

Reports claim that Zaldy Co ‘is shopping for a house in Europe.’ That can only mean he has no intention of returning to the Philippines ‘post-haste.’ Since he has resigned, is it time to take a shot at Blue, as in a Blue Notice with Interpol for the return of exs-congressman Zaldy Co?

I just saw a very timely and accurate proverb related to the Senate and congressional investigations now slowly but surely floating towards Malacañang and the executive department:

‘The accomplice of a thief is his own enemy; he is put under oath and dare not testify’ – Proverbs 29:24. In legal terms, they invoke the right against self-incrimination!

Last Monday evening, I chanced upon a video where a retired Marine officer suggested that we all get a patch of the Philippine flag and wear it red side up. As you all know, that simple act is a declaration of war against another nation, the government or a revolution.

That was what the retired Marine officer was suggesting in defiance of the subtle threats of politicians, officials of the Armed Forces, the PNP and talking heads in Malacañang. I have thought of doing the same thing on numerous occasions as an act of protest against political abuse and corruption.

In fact, I actually went a step further that evening by asking a couple of friends if any of their suppliers could produce such t-shirts and how much. In a matter of seconds someone immediately suggested ‘black shirts with the inverted Philippine flag.’

Then another asked, ‘How many, how soon and what sizes please.’ All I had to do was fill in the order and we would have the shirts in a matter of days.

But instead, I asked a friend to first check with a lawyer if it was against the law or illegal to don the Philippine flag red side up or not. Half an hour later, I received ‘mixed’ opinions and replies to the question.

One lawyer immediately said it was against the law. Another said the law prohibits using the flag as a ‘garment’ or actual clothing like a robe or cape. Ultimately, the answers depended on who you asked.

The historical commission has set rules, even about the positioning of a statue of Jose Rizal on the right side of the flagpole/flag and must be facing the front of government buildings.

Others view historical rules as ‘dated’ or irrelevant with current culture, especially to the millions that have seen flag-inspired uniforms and many Olympic athletes draped with a flag doing a victory lap.

A valuable lesson I am reminded of from all of this is not to rush out and make an order, instead sleep on it, pray for divine wisdom:

‘Trust in the Lord with all your heart and lean not on your own understanding. In all your ways acknowledge him and he will make your paths straight. Do not be wise in your own eyes: fear the Lord and shun evil’ – Proverbs 3: 5-6

The answer came the next morning through an FB post of my friend Charmaine who posted a heart-shaped painting of the Philippine flag. One nation under God – marching behind one flag.

Instead of political colors, symbolism of rebellion, placards and titles of movements, use the Philippine flag to symbolize our unity and patriotism! That is exactly what my friends and I will do; ‘wear’ the flag closest to our hearts!

In a post from Heneralunacy ‘What kind of country have we become,’ the author stated: the Filipino Chinese Chamber of Commerce, normally a late political responder, recently issued a strong statement asking for real structural reforms and accountability.

Yes, said chamber is very prudent and circumspect about issuing statements, especially concerning politics, governance and peace and order because business and industry view the chambers’ pulse very seriously.

Even when their community is under attack by kidnappers, extortionists or corrupt government officials, they respond with restraint, opting to address the problem calmly and strategically.

The fact that the FFCCCII has now issued a strongly worded statement about the current levels of corruption in the Philippines is a cause for concern, because it is no longer just their backyard or community concern, it is the entire country that has been affected by corruption.

Below is the FFCCCII statement:

An urgent call against corruption

Public statement by the FFCCCII

The Federation of Filipino Chinese Chambers of Commerce and Industry Inc. urgently calls on the government, private sector and every citizen to resolutely confront the cancer of corruption eroding our nation’s foundation.

The Need for Systemic Reform – Prosecuting corrupt individuals is reactive. We must go further and dismantle the entire ecosystem that allows corruption to thrive. This requires sweeping systemic reforms built on radical transparency, efficiency and ruthless accountability.

Learn from Global Success – We need not reinvent the wheel. We must look to exemplary models in other jurisdictions where powerful, independent anti-corruption agencies have full autonomy to investigate and prosecute without fear or favor.

Corruption is a Crime Against the People – Corruption is not a victimless crime. It is a heinous betrayal that robs our most vulnerable citizens of essential services and a better life. It stifles innovation, repels investment and essentially destroys our nation and kills its people.

The time for half measures is over. Let us unite to build a system that rewards integrity and paves the way for a just and prosperous Philippines.