Category: Philippines Daily Inquirer

The Securities and Exchange Commission (SEC) has approved the proposed rental pool deals of property developer Sta. Lucia Land Inc.

Rental pool deals refer to investment contracts where a property developer sells or offers units in real estate projects such as condominiums, hotels or resorts to the public.

Under such deals, buyers contribute the units to a rental pool managed and operated by the company or a third-party operator. Consequently, the buyers receive a share in profits earned by renting out the units to third parties. The SEC said on Thursday it had cleared Sta. Lucia’s 16 registration statements covering 2,382 certificates of participation, subject to compliance with remaining requirements.

Sta. Lucia will offer certificates of participation priced at:

P70,000 each for 2,101 studio units;

P80,000 for each certificate in 150 one-bedroom units;

P90,000 each for certificates in 121 two-bedroom units; and

P100,000 each for certificates in 10 three-bedroom units.

Fifteen of the projects under the rental pool program are located in Quezon City, Baguio City, Rizal, Cavite, Batangas, Palawan, Iloilo, Cebu and Davao. They have been operating since at least 2011.

A project in Cebu is still under construction and is expected to be completed by 2027. As holders of the certificates of participation, unit owners will be entitled to a share in the net profits earned by the pooled units made available as hotel rooms for paying guests, as well as personal use of the units for 30 nights per year

The local stock barometer failed to sustain its hold at 6,000 level on Thursday, falling anew on profit taking and as worries on the economy persisted.

The Philippine Stock Exchange Index (PSEi) lost 0.59 percent, or 35.57 points, to end at 5,969.13.The broader All Shares Index also dipped by 0.24 percent, or 8.54 points, to 3,538.11.

The financial counter suffered the biggest blow, dropping by 2.21 percent.

Only the holding firms posted gains among the key sectors.

‘The PSEi closed lower as investors locked in gains from the previous session,’ said Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp.

‘Sentiment also softened amid caution over Fitch’s recent warning on potential risks to the Philippines’ credit standing. The concern raised added pressure as markets weighed its possible impact on economic performance,’ he added. Political jitters

According to Fitch Ratings, unending political woes, further fired up by multibillion-peso corruption scandal linked to flood control projects, will remain a ‘significant risk’ to the credit rating of the Philippines until next year.

The impact on investor sentiment and public spending was already felt in the latter part of 2025, with the third-quarter economic growth logged as the slowest expansion in four years. If the social tensions continue, Fitch warned that they ‘can become more of a drag on growth as confidence among foreign and domestic investors suffers.’

The Philippines currently holds a BBB rating from Fitch-above the minimum investment grade-with a ‘stable’ outlook. However, given the issues at present, the country may fail to reach its dream of getting an ‘A’ rating this 2025.

Sluggish spending

Another factor dragging investor confidence was the drop in government expenditures, said Philstocks financial research manager Japhet Tantiangco.’The local market dropped as investors digested the Philippine government’s October budget position data, which posted a decline in both public revenues and expenditures,’ he said. Puregold Price Club Inc. and SM Investments Corp. were the index leaders, both climbing 2.96 percent.DigiPlus Interactive Corp., meanwhile, was the main index laggard, falling 4.64 percent, despite its announcement about a new payment option.

The Philippine women’s futsal team wrapped up its campaign in the Fifa Futsal Women’s World Cup with a 5-1 defeat at the hands of quarterfinal-bound Argentina on Thursday at Philsports Arena in Pasig City.

Argentina scored all of its goals in the first seven minutes before the Filipina5 put up a brave effort to ensure it would no longer concede another. Isabella Bandoja averted a shutout in the second half on a counterattack which served as a consolation for the home side and most of the 2,811 fans who came to witness the final matchday of Group A.

Coach Rafa Merino’s side lost all three matches to conclude its stint in the inaugural world competition. Argentina, on the other hand, finished with nine points after winning all three matches, emerging as the top team in the group.

A quick start propelled Argentina to virtually secure the maximum three points. Lara Villalba broke the ice 85 seconds into the match before Argentina doubled its lead behind Mailen Romero.

But Argentina was far from done as Luciana Natta and Agostina Chiesa made it 4-0 while Melina Quevedo converted the fifth from the penalty spot.

It looked as though Argentina was poised for more, but the early misery proved to be a rude awakening for the Filipina5.

Kayla Santiago replaced Samantha Hughes as goalkeeper and made some fine stops the rest of the way. Then Bandoja, a product of Tuloy sa Don Bosco who has a background at futsal since childhood, came through with the score with 12:31 to go in the contest.

More than 70,000 people have signed a petition calling for the cancellation of K-pop girl group Aespa’s performance at Japan’s most prominent year-end music show over the inclusion of its Chinese member, Ningning.

The petition, posted Monday, specifically targeted the NHK Red and White Singing Contest, one of Japan’s most-watched year-end programs. It argued that Aespa’s appearance could damage Japan’s image and offend those affected by historical tragedies.

‘We demand the suspension of Aespa’s appearance on the Red and White Singing Contest. Please cooperate with the online petition,’ the statement read in Japanese.

Observers say the petition reflects rising tensions between Japan and China. Relations have been strained after Japanese Prime Minister Sanae Takaichi recently suggested that Japan could deploy its Self-Defense Forces if China attacked Taiwan. Industry insiders worry that such political tension could complicate matters for K-pop groups like Aespa with Chinese and Japanese members.

Amid rising tensions between the two countries, an old post by Ningning also resurfaced, drawing criticism from Japanese fans for referencing the tragic history of the Hiroshima atomic bombing.

In May 2022, Ningning uploaded a lamp shaped like an atomic bomb on Bubble, a subscription-based messaging app used by K-pop idols, ‘I bought a pretty lamp, what do you think?’ she wrote.

Observers noted that Ningning came from Harbin, a region under Japanese colonial rule from 1932 to 1945, suggesting she may have harbored anti-Japanese sentiments.

NHK said it is aware of the issue and has confirmed with Aespa’s agency, SM Entertainment, that the Chinese member did not intend to mock the atomic bomb victims, according to Japanese reports.

SM Entertainment declined to comment on the matter.

Apart from Aespa, a fan meeting event for JO1, an 11-member Japanese boy band formed through the audition program ‘Produce 101 Japan’ in 2019, has been canceled due to ‘unavoidable circumstances,’ according to Hong Kong’s Sing Tao Daily on Thursday.

On Monday, QQ Music, one of China’s largest music platforms, notified fans that the VIP member-only event scheduled for Wednesday has been canceled, without providing further details.

Currently, the boy group is under Lapone Entertainment, a joint venture between Japan’s showbiz conglomerate Yoshimoto Kogyo and South Korea’s entertainment giant CJ ENM.

The Philippines’ Myrna Esguerra ended her Miss International 2025 journey with a fourth runner-up finish, while Catalina Duque of Colombia is crowned Miss International 2025.

The 63rd Miss International pageant has concluded with the coronation of Duque as the new queen, besting 79 other aspirants in ceremonies held at the Yoyogi National Stadium 2nd Gymnasium here on Thursday evening, Nov. 27.

Duque inherited the title from last year’s winner, Vietnamese beauty Huynh Thi Thanh Thuy. This is the fourth Miss International crown for Colombia.

Settling for the first runner-up spot was Yollanda Chimbarami of Zimbabwe, while Paola Guzmán Sanchez of Bolivia was proclaimed second runner-up.

Melliza Xaviera Yulian of Indonesia was third runner-up, while Esguerra rounded up the winners’ circle as fourth runner-up. Meanwhile, the four continental queens are: Sophie Wallace of the United Kingdom for Europe; Zimbabwe’s Chimbarami for Africa; Farrah Grant of Turks and Caicos Islands for Americas; and, Katrina Wan of Macau for Asia Pacific.

True sisterhood

In her first speech as Miss International 2025, Duque thanked her supporters and family for believing in her. She said that the global tilt was truly a sisterhood, and made her believe that pageantry ‘still has a purpose.’

During the question and answer segment, the Top 5 finalists were to uniformly answer just one question: ‘If you were to describe your entire Miss International experience to your family and loved ones, what would you tell them?’

The Colombian beauty queen, who has been one of the frontrunners for the crown, said, ‘I used to think that the big moments were the only ones that mattered. But learning about Japanese culture, I’ve learned about mono no aware, about the little things. Just how the leaves fall in autumn and they make things beautiful. How kids hug me and they smile at me. And how every yummy tasty ramen I have reminds me to have a glorious life and to enjoy every single moment. I’m so thankful for being here and I’m having so much fun.’

No small feat for Esguerra

Esguerra may have failed to bag the Philippines’ seventh Miss International crown, but her Top 5 finish was no mean feat for a Filipina beauty queen in any pageant, having won the Best in National Costume, Best in Swimsuit, and Best in Evening Gown awards.

During the QandA portion, Esguerra drew her answer from her experiences as one of the 17 children of an impoverished family in Abra. Being the only one who was able to finish her education with a college degree, she said that she wanted to give back to her community by helping similarly situated children. Esguerra had more than a year to prepare for the international competition. She won her Binibining Pilipinas crown during the national pageant’s 60th anniversary in June 2024.

The Philippines is the best-performing Asian country in Miss International. Gemma Cruz, Aurora Pijuan, Melanie Marquez, Precious Lara Quigaman, Bea Rose Santiago, and Kylie Verzosa have previously brought home the crown. The final gala of this year’s pageant capped two weeks of competition, wherein the delegates visited different places in Japan to immerse in Japanese culture.

The football team from the Hong Kong district reeling from a deadly apartment blaze wore black arm bands and stood in silence ahead of their match on Thursday in Asian club competition.

A massive fire broke out in an eight-building housing estate in Tai Po on Wednesday, killing at least 55 people in Hong Kong’s worst blaze in decades.

Tai Po FC faced Australian side Macarthur FC away in the AFC Champions League Two, the second-tier club tournament in Asian football, about 24 hours later.

Tai Po’s players wore black arm bands and both teams stood in solemn silence ahead of kickoff at Campbelltown Sports Stadium outside Sydney.

Tai Po’s Brazilian captain Igor Sartori declined to celebrate after putting his side ahead in the 24th minute, instead putting his hands together in prayer.

Several domestic sporting events in Hong Kong, including a trail race and rugby matches, have been postponed or are set to be, the South China Morning Post newspaper said.

Myrna Esguerra of Philippines is off to a strong start as she entered the Top 20 of the Miss International 2025 pageant held in Tokyo, Japan on Thursday evening, Nov. 27.

The announcement came after the show’s opening segment, where all 80 delegates introduced themselves in their colorful national costumes.

Aside from the Philippines, other delegates who advanced to the Top 20 are the following:

Sinamile Dlamini of South Africa

Nicky Kandola of USA

Nan Inzai of Myanmar

Nathie Quijano of Peru

Natalia Garibay of Mexico

Rachel Murgel of Canada

Jarupiya Bontibaluriband of Thailand

Serena Darder Aguilar of Netherlands

Roosh Sindhu of India

Lauriela Martins of Angola

Yollanda Chimbarami of Zimbabwe

Shante Jarrett of Jamaica

Anita Maspons of Dominican Republic

Melliza Xaviera Yulian of Indonesia

Catalina Duque of Colombia

Paola Guzmán Sanchez of Bolivia

Verónica Iglesias of Nicaragua

Shenci Romaya of Sri Lanka, and,

Ai Nozaki of Japan

Earlier in the evening, Ghana took home the first place in Best in National Costume, while Vietnam and Tanzania placed second and third, respectively.

Esguerra is seeking to secure the country’s seventh crown and inherit the title from reigning queen Huynh Thi Thanh Thuy.

Bureau of Internal Revenue (BIR) Commissioner Charlito Martin Mendoza on Thursday said they are looking into the P30 million donation made by Centerways Construction and Development Inc. President Lawrence Lubiano for the 2022 senatorial bid of Senator Francis ‘Chiz’ Escudero. Mendoza, in a press conference at the Department of Justice (DOJ) said the focus of their investigation is the donor’s tax compliance and declared assets to see if they are aligned.

‘He is saying that he donated P30 million. This means he has an asset of P30 million that he gave. So, we will cross-reference this with the tax returns that he filed. If the taxes that he paid are commensurate with that asset,’ Mendoza said.

The Commission on Elections (Comelec) has declared that there was no violation of the Election Code when Sen. Francis Escudero received the P30-million campaign donation from Lubiano.

But for the BIR, Mendoza said their primary angle of investigation is to determine if the taxes paid by Lubiano are commensurate with the P30 million asset he donated.

Authorities will soon impound electronic bikes and tricycles (e-bikes, e-trikes) caught operating on main thoroughfares, according to the Land Transportation Office (LTO).

LTO chief Assistant Secretary Markus Lacanilao gave this commitment to the Senate on Thursday as it tackled in the plenary the proposed budget of the Department of Transportation (DOTr) for 2026.

‘Our new LTO head, Assistant Secretary Lacanilao, has committed that by December 1, all e-trikes on the streets will be apprehended,’ Sen. JV Ejercito, budget sponsor of the DOTr’s budget, said after conferring with the LTO and DOTr officials.

‘There you go, e-bikes and e-trikes-starting December 1, refrain from plying your route,’ said Sen. Raffy Tulfo, who brought up some issues raised against these vehicles.

Unlike the traditional tricycles, Tulfo pointed out that e-trike and e-bike operators and drivers are not only not registered with the LTO, but they also do not have a license and insurance. And yet, they are allowed to operate.

Ejercito explained that these e-bikes and e-trikes are supposed to be prohibited from using the main thoroughfares, but some were able to get franchises from local government units (LGUs). Tulfo then suggested that the LTO and LGUs come up with an agreement to regulate e-bikes and e-trikes, but without ‘killing’ the business of traditional tricycles.

‘So maybe it’s about time we consider requiring these e-bike drivers and operators to get a driver’s license. If not, they should be apprehended, or the LGU should be warned,’ he said.

It was at this point that the LTO vowed to strictly enforce the ban on e-bikes and e-trikes by impounding those caught on major roads starting Dec. 1.

‘According to LTO, and DOTr, automatic impound na,’ Ejercito said when asked what kind of ticket would be issued to violators if they don’t have a license.

‘That’s what the LTO says: from now on, especially on main thoroughfares, they will automatically impound them,’ he added.

While commending this move, Tulfo advised the transportation agency to conduct an information drive first before apprehending violators.

The DOTr agreed with the suggestion.

‘According to our Secretary, by December 1, they will first conduct an information drive. They will go around just to inform everyone they see,’ Ejercito said, referring to Acting DOTr Secretary Giovanni Lopez. ‘So they will first give everyone a chance to be informed. There will be an information campaign before they start apprehending anyone,’ the senator said.

The appearance of Ilocos Norte First District Rep. Ferdinand ‘Sandro’ Marcos III before the Independent Commission for Infrastructure (ICI) is likely to be livestreamed, the body’s executive director Brian Keith Hosaka said Thursday.

If that is the case, it will be a contrast to the appearances of four lawmakers tagged in the flood control scandal who attended the ICI hearings.

The four members of the House of Representatives all requested a closed-door session.

‘Right now, if you read the request of Sandro Marcos, it was not stated there. So based on our rules, unless there is a formal request for an executive session, the default would be livestream,’ Hosaka said in an ambush interview when asked if Marcos’ appearance will be shown live to the public.

Due to mounting pressure from the people, and with critics saying that closed-door proceedings can cast doubt on the commission’s findings, the ICI allowed livestreaming of hearings, but those summoned can still request an executive session.

Hosaka, who confirmed that the ICI received Marcos’ letter Thursday morning, also said the commission will convene to determine when the lawmaker will attend the proceedings.

In a letter addressed to ICI chairperson Andres Reyes Jr., dated Nov. 26 (Wednesday), made public Thursday, Marcos said he is ‘ready to cooperate, answer questions, and provide any clarification needed to move this investigation forward.’

Marcos’ letter did not indicate any request for an executive session.

This letter came after resigned Ako Bicol Rep. Zaldy Co alleged that Marcos inserted at least P50 billion worth of public works projects in the 2023, 2024 and 2025 national budgets.

This was the first time that Marcos, who was House senior deputy majority leader in the 19th Congress and currently the majority floor leader in the 20th Congress, was named in Co’s videos.

Insertions generally refer to any change made from the National Expenditure Program prepared by the Department of Budget and Management in the crafting of the general appropriations bill, which is eventually enacted into law