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THE Government Service Insurance System (GSIS) asked Congress to provide a clearer policy direction on its investments, following Senator Risa Hontiveros’ concerns over its P1-billion investment in online gambling firm DigiPlus.

GSIS President and General Manager Jose Arnulfo A. Veloso emphasized that the state pension fund’s mandate is to grow and protect members’ contributions through investments that are legal and transparent.

‘We would like to get the wise wisdom of this committee and your chamber. We are just being obedient, if this is what the people want, let us change the policy so we could be guided,’ Veloso said mostly in Filipino.

‘We were told that if the company is legal and listed by the Philippine Stock Exchange, then we could invest in it.’

The pension fund chief clarified that investments are made within strict guidelines, with focus on profitability, liquidity, and security.

Veloso highlighted that the GSIS portfolio remains largely concentrated in low-risk assets, including government bonds, loans to members, and income-generating real estate properties.

Citing the pension fund’s performance, Veloso said GSIS assets reached P1.88 trillion in the first half of the year, an increase from P1.54 trillion in 2022.

Net income in the first half of the year climbed to P77.82 billion, marking a 30 percent increase from the same period last year.

He said the actuarial life of the GSIS fund is secured until 2058, reflecting the sustainability of its investment strategy and its capacity to meet the obligations of future retirees.

Still, Senator Risa Hontiveros pressed Veloso on why GSIS chose to invest in DigiPlus, despite the social costs associated with online gambling.

Veloso acknowledged these concerns but clarified that the investment decision was based strictly on financial and legal considerations.

‘I cannot impose my own moral standards because our duty is to be able to grow the fund,’ Veloso said.

Meanwhile, the Commission on Audit (COA) flagged the DigiPlus investment and recommended that GSIS prepare recovery plans for its stock exposures ‘at a term not disadvantageous to the fund.’

COA further advised GSIS to review its investment policy guidelines and align them with the GSIS Charter, which outlines limitations on fund placements.

Veloso said the fund has already drawn up recovery plans covering DigiPlus and other equity holdings identified by the audit.

However, he explained that the fund is waiting for more stable market conditions before executing any recovery plans

THE Philippine Economic Zone Authority (Peza) has approved P154.70 billion worth of investments in the January to September 2025 period, up 33.50 percent compared to the P115.87 billion approved in the nine-month period last year.

The investment promotion agency said these approved investments in the nine-month period this year are seen to generate 50,430 jobs.

Meanwhile, Peza said these investments may result in $4.49 billion worth of export revenues.

The approved investments in the January to September 2025 period comprise 215 newly approved projects spread across various sectors.

Of the 215 approved projects, Peza said 98 are into Manufacturing; 55 are in the IT and Business Process Management (IT-BPM) sector; 18 are into Domestic ecozones; 16 are Facilities; 17 are into Ecozone Development; 7 into Logistics and 4 are into Utilities.

As for the location of these investments, Peza said 178 projects are set to rise in Luzon; 29 in Visayas and 8 in Mindanao.

By source of investments, Peza pointed out that Japan has ‘reemerged’ as the top investing nationality of Peza. From January to September 2025, Japanese firms chipped in P14.78 billion in new and expansion projects, accounting for 9.55 percent of the investments generated by the investment promotion agency in the nine-month period.

According to Peza, at the ‘forefront’ of this resurgence is the registration of a domestic market enterprise in Tarlac City which is set to manufacture food products and processed foods inside the Tari Estate.

‘Valued at over P9.1 billion, this Japanese flagship food processing facility, one of September’s big-ticket approvals, will cater to both domestic and export markets and anchoring industrial growth in the Luzon Economic Corridor [LEC],’ Peza said.

In September 2025 alone, the investment promotion agency was able to greenlight 36 new and expansion projects worth P48.87 billion. These investments are seen to be generating $1.11 billion in export revenues and creating 10,312 jobs.

For his part, Peza Director General Tereso O. Panga said: ‘Japan’s return as our leading partner reflects the fruit of our investment missions and strong collaborations with stakeholders. With nearly 10 percent of this year’s total project approvals coming from Japanese companies, we see undeniable proof of the Philippines’ standing as a trusted and highly competitive hub in Asia.’

Gigasol 1 Inc., a subsidiary of ACEN Corp., wants to increase the capacity of its solar power facility in Zambales to 225.909-megawatt peak (MWp) from 95 MWp for P13.39 billion.

The proposed expansion project will involve installation of PV modules, inverters, and main switchyard in Barangay Burgos, Botohan. Testing and commissioning of the solar project could happen in September 2027, with commercial operations expected to start by December 2027.

‘The Gigasol1 solar power plant project aims to achieve sustainable development and supply electricity to the Luzon grid to address the expected lack of supply and increasing demand for power.

Aside from employment opportunities that the project presents, the project intends to construct a means to harness clean and renewable energy for Luzon,’ the company said in a filing with the Environmental Management Bureau.

Luzon is growing at a fast pace, resulting in a projected shortfall in generating capacity, thereby creating an attractive opportunity for solar development in Zambales, added the company.

The expansion also includes the development of a 14-kilometer access road traversing barangays Poonbato and Burgos, which will support the expanded operations of the solar facility.

Gigasol1 said it will draw its expertise from previous projects in selecting technology providers and new developments in the solar technology implemented in the country in recent years.

Last August, ACEN reported that its consolidated net income declined by 88 percent year-on-year to P763 million mainly due to a P2.7-billion impairment relating to the relating to the Lac Hoa and Hoa Dong wind farms in Vietnam.

Excluding this one-off booking and the P1.35-billion valuation gain in 2024, net income fell 24 percent over the same period, due to depressed Wholesale Electricity Spot Market prices and increased depreciation effects.

‘Despite these headwinds, attributable renewables output grew 9 percent year-on-year to 3,228 GWh [gigawatt hours], driven by new contributions from international plants.’

Last December, the company said its capital expenditures (capex) for this year could increase to P70 billion from P50 billion in 2024.

‘We are forecasting P50 billion in capex across all geographies for fiscal year 2024. In 2025, we expect to spend roughly P70 billion,’ said ACEN President and CEO Eric Francia. The amount will be used to achieve its goal of having 20 gigawatts (GW) of renewable energy capacity by 2030.

THE lawyers of former President Rodrigo Roa Duterte are asking the Pre-Trial Chamber of the International Criminal Court (ICC) to first determine whether his deteriorating health affects his ability to stand trial.

‘Mr. Duterte’s cognitive impairment is sufficient to warrant litigation of the matter prior to the holding of the confirmation hearing,’ said his counsel, international lawyer Nicholas Kaufman. ‘In light of the aforementioned, and given their relevance, the Defense hereby submits the present medical information into the case record.’

In a public redacted filing dated September 29, 2025, Kaufman submitted new medical records to support his claim that Duterte is suffering from cognitive impairment.

The submission is part of the ongoing case which investigates alleged crimes committed during Duterte’s presidency, particularly in connection with his controversial war on drugs.

The defense said two separate medical evaluations-one by a professional appointed by the ICC Detention Centre and another by a defense-proposed expert-corroborate the impairment and raise serious concerns about Duterte’s legal competency. The legal team also requested a status conference before the court’s judicial recess to address the matter urgently.

However, the prosecution strongly opposed the defense’s move, arguing that the medical submissions are irrelevant to the Chamber’s determination on interim release. In its own filing, also dated September 29, the Office of the Prosecutor said Duterte remains a flight risk, could interfere with proceedings, and may commit further crimes if released.

The Prosecution criticized the Defense for filing the medical challenge five months after Duterte’s initial appearance, and after key procedural deadlines had passed. It noted that during those months, Duterte was able to instruct his legal team to file jurisdictional challenges, request the disqualification of judges, and negotiate conditions for interim release-suggesting he was mentally competent enough to participate in legal strategy.

‘The Defense has unnecessarily delayed the proceedings,’ the Prosecution said, adding that the Chamber had already made clear that any postponement of the confirmation hearing would be ‘limited to the time strictly necessary’ to assess Duterte’s fitness.

The public versions of both filings redact specific medical details and internal negotiations.

Duterte, who served as president from 2016 to 2022, faces accusations of crimes against humanity for thousands of deaths linked to his anti-drug campaign. He has consistently denied wrongdoing and previously dismissed the ICC’s jurisdiction over the Philippines.

The ICC has yet to issue a ruling on the Defense’s latest request.

THE International Container Terminal Services Inc. Elite Junior Finals blasts off Wednesday at The Country Club featuring the best junior golfers from Luzon (North) and Visayas-Mindanao (South) in a Ryder Cup-style showdown.

The finals mirror the recently concluded Team Europe vs Team USA duel and the format includes Four-Ball (Best Ball) on Day 1, Foursomes (Alternate Shot) on Day 2 and Singles matches on the final day with 48 of the country’s top juniors competing.

Team North co-captain Ryan Tambalque laid down a simple but clear plan for Day 1’s Four-Ball format where the boys’ 7-10 division opens play from the first tee, followed by the 11-14 and the 15-18 divisions.

The girls’ teams start simultaneously on the 10th tee and the three-day event is open to the public.

‘Keep the ball in the fairway and greens in regulation,’ said Tambalque, giving concise marching orders to his 24-player squad that emerged from a grueling seven-leg qualifying series organized by Pilipinas Golf Tournaments Inc.

Team South skipper Alfred Gaccion exuded quiet confidence as he acknowledged the depth of Team North.

‘The opposing team is equally equipped, so we’re focusing on a balanced fielding of players,’ said Gaccion, who singled out the girls’ 15-18 division as a potential game-changer. ‘Fortunately, we have strong representatives in every age division.’

‘The 15-18 girls will definitely be on top,’ he added, referring to his powerhouse lineup of Tashanah Balangauan, Crista Miñoza, Precious Zaragosa and Mikela Guillermo.

Team North’s counterpart in the girls’ 15-18 division are Rafa Anciano, Levonne Talion, Tiffany Bernardino and Chloe Rada.

The complete rosters:

Team North-Zoji Edoc, Zach Guico, Asher Abad and Halo Pangilinan (boys’ 7-10); Ronee Dungca, Mavis Espedido, Winter Serapio and Tyra Garingalao (girls’ 7-10); Vito Sarines, Zianbeau Edoc, Ryuji Suzuki and Jacob Casuga (boys’ 11-14); twins Lisa and Mona Sarines, Kendra Garingalao and Alexie Gabi (girls’ 11-14); Patrick Tambalque, Zachary Villaroman, Jose Carlos Taruc and Kristoffer Nadales (boys’ 15-18); and Rafa Anciano, Levonne Talion, Tiffany Bernardino and Chloe Rada (girls’ 15-18).

Team South-Ethan Lago, Lucas Revilleza, Kvan Alburo and James Rolida (boys’ 7-10); Denise Mendoza, Soleil Molde, Claren Quiño and Francesca Geroy (girls’ 7-10); Ralph Batican, Ken Guillermo, Jared Saban and Marcus Dueñas (boys’ 11-14); Brittany Tamayo, Kimberly Baroquillo, Zuri Bagaloyos and Rafella Batican (girls’ 11-14); Alexis Nailga, along with Luciano Copok, Mhark Fernando III and Eric Jeon (boys’ 15-18); and Tashanah Balangauan, Crista Miñoza, Precious Zaragosa and Mikela Guillermo (girls’ 15-18).

DESPITE infrastructure and warehouse damages caused by recent typhoons, the country’s buffer rice stock remains sufficient to feed Filipinos for 12 days, the National Food Authority (NFA) said.

NFA Administrator Larry Del Rosario Lacson said on Tuesday that the agency currently has 446,000 metric tons or about 8.9 million bags of milled rice, enough to last for nearly two weeks.

‘Right now, our buffer stock stands at almost 12 days nationwide. It can feed all Filipinos for 12 days,’ Lacson said in a press briefing.

According to Lacson, recent storms caused minor damage to some NFA facilities, such as leaks and flooding, but did not result in major losses and rice stocks remained unaffected.

He added that the NFA is currently assessing the volume of rice that got wet during the storms, noting that some may still be dried and recovered. Initial reports point to only a few hundred bags being affected, the agency administrator said.

‘There is nothing that needs rehabilitation. These are just minor repairs, just some leaks.The recent storm did not cause any damage to our stocks.’

P20 rice in Masbate

Lacson said the NFA started releasing P20-per-kilo rice on Tuesday in Masbate, one of the provinces hardest hit by the recent storms.

‘We also carried out an immediate dispersal in Masbate, which was severely hit by the typhoon. As of now, I think they still don’t have electricity. We are even looking for a generator there so we can run our rice mill and continue providing rice in the area,’ he added.

Under the agency’s directive to speed up augmentation, he said trucks were immediately deployed to the affected area, adding that additional supplies from other regions are also being considered.

Lacson explained that the government has been expanding the rollout of President Ferdinand ‘Bongbong’ Marcos Jr.’s P20-per-kilo rice nationwide, but because Masbate was severely affected by the calamity, it was prioritized for distribution through Kadiwa outlets.

More than 3,000 bags of rice have so far been distributed in the province, while dispersals were also conducted in Regions 8 and 4, said Lacson.

This came as the Department of Social Welfare and Development’s (DSWD) gave out relief aid to families and communities in provinces, including Masbate, hit by the recent major weather disturbances due to typhoon ‘Opong.’

The DSWD said on Tuesday that it has so far distributed more than 309,000 family food packs (FFPs) to households affected by recent typhoons. The largest share of assistance went to the Bicol Region with over 82,000 packs, followed by Western Visayas with 52,000 and the Ilocos Region with nearly 44,000.

According to Lacson, the P20 per kilo of rice in Masbate ensures that residents have an accessible food source once relief supplies and FFPs are depleted. He noted that power restoration in the province may take time, making DSWD food packs insufficient to meet daily consumption needs.

Lacson added that other provinces severely hit by typhoons would also automatically be given priority for the P20-per-kilo rice rollout.

‘Right now, we haven’t met yet with the DA and the Kadiwa team. But definitely, when it comes to the priority session, that will suddenly move up. As long as an area is hit by a typhoon, it will move up in priority. That’s for sure,’ he said.

Restoration of damaged power lines in affected areas in Masbate due to typhoon ‘Opong’ and the Southwest Monsoon will cost roughly P400 million, according to the Department of Energy (DOE).

With the scale of destruction, DOE Secretary Sharon Garin said that an estimated budget of around P400 million will be needed to repair affected power lines. Garin visited Masbate on Tuesday to inspect and assess the damage to energy infrastructure. She was joined by National Electrification Administration (NEA) Administrator Antonio Mariano Almeda, National Power Corporation (NPC) President Jericho Jonas B. Nograles.

‘This is more than an inspection, this is a commitment. We came here to see and assess the extent of the damage and to personally assure the Provincial Government of Masbate, its local electric cooperatives, and the people of Masbate that the energy sector will do everything it can to restore electricity as quickly and safely as possible,’ she said.

Meanwhile, NEA said the cost of damage to critical facilities affected by typhoons Nando, Opong, and the southwest monsoon are estimated at P52.1 million spread across 17 electric cooperatives (ECs) nationwide.

This covers the areas of ABRECO (Abra), BATANELCO (Batanes), BENECO (Benguet), BISELCO (Busuanga Island), CAGELCO 2 (Cagayan), CAPELCO (Capiz), KAELCO (Kalinga Apayao), LEYECO 5 (Leyte), LUBELCO (Lubang Island), MARELCO (Marinduque), MOPRECO (Mountain Province), NORSAMELCO (Northern Samar), OMECO, (Occidental Mindoro), ORMECO (Oriental Mindoro), ROMELCO (Romblon), SAMELCO 2 (Samar), and TIELCO (Tablas Island).

The DOE chief commended line workers from various ECs nationwide who, under Task Force Kapatid, have been arriving in Masbate since Sunday to support the Masbate Electric Cooperative, Inc. (MASELCO).

‘We are moving with urgency, but also with care. Safety remains our top priority for both workers on the ground and the public. Together, we will restore power and restore hope,’ Garin added.

Opong, which recently battered the Bicol Region, caused widespread damage to energy infrastructure, leaving many parts of Masbate without power.

The newly renovated 50-year-old Philippine International Convention Center (PICC) is now ready to accommodate the international delegate of the 2026 Association of Southeast Asian Nations (ASEAN) Summit and related meetings, which will be hosted by the country.

President Ferdinand Marcos was personally accompanied by First Lady Louise Araneta Marcos and former First Lady Imelda Romualdez Marcos when he led the reopening ceremony last Tuesday of the iconic building designed by the National Artist Leandro V. Locsin .

In his speech during the reopening ceremony, the chief executive recognized how Asia’s first international convention center became the venue of not only many historic events such as the Miss Universe pageant in 1994 and ASEAN Summit in 2017, but also numerous public events such as graduations and oath-taking ceremonies of board passers.

‘As we look ahead, we recognize the PICC as a symbol of Filipino resilience and creativity. And that is why, with the PICC’s Golden Anniversary in 2026 and, coincidentally, our hosting of the ASEAN Summit, we reaffirmed our commitment to preserving and modernizing the PICC for many generations yet to come,’ Marcos said.

The renovated facility now features state-of-the-art audio-visual systems, energy-efficient lighting, complex-wide high-speed Wi-Fi to enhance security.

It now also features a newly curated art collection, with priceless works from Filipino masters from the Bangko Sentral ng Pilipinas.

Marcos has vowed to preserve the PICC, which he said will continue to serve as ‘testament to the artistry, ingenuity, and passion of the Filipino people’ for the next generation.

‘As we reopen the doors of the PICC, let us also open ourselves to a greater challenge: to create, to imagine, and to contribute,’ Marcos said.

‘So, together, let us ensure that the PICC will remain as a testament to the artistry, ingenuity, and passion of the Filipino people,’ he added.

Century Properties Group Inc. (PSE: CPG) announces its inclusion in the Financial Times Stock Exchange (FTSE) Global Equity Index Series (GEIS)- Microcap Index effective September 22, 2025.

The FTSE Microcap Index is part of the globally recognized FTSE Global Equity Index Series, which serves as a benchmark for institutional investors and fund managers worldwide. Inclusion in the index enhances the company’s visibility in global capital markets and may potentially increase liquidity and broaden its shareholder base.

CPG was added to the FTSE Microcap Index effective September 22, 2025, affirming the company’s growth prospects, increased market capitalization, enhanced liquidity, and higher free float. CPG’s free float has also improved from 27.4 percent to 34.21 percent after the Social Security System (SSS) bought a 6.4 percent stake in July 2025.

Over a period of three years from 2022, CPG has recorded a strong financial performance as it sustained its net income growth, increasing from P1.405 billion in 2022 to P1.855 billion in 2023, to P2.443 billion in 2024, reflecting a 32 percent and 31.7 percent year-on-year improvement, respectively.

‘We are honored by this inclusion, which represents a key milestone in our growth trajectory, said Marco R. Antonio, President and CEO of CPG. ‘This recognition underscores the strength of our business model and our commitment to delivering long-term value to our stakeholders-from homebuyers and communities to our shareholders,’ he added.

At the end of the trading week on September 19, CPG closed at P0.69 per share, 68 percent higher year-to-date and 89 percent compared to its level in the previous year.

Senator Christopher ‘Bong’ Go, on Monday, September 29, delivered a manifestation in the Senate expressing his full support for the proposed 2026 budget of the Office of the Vice President (OVP), praising Vice President Sara Duterte’s initiatives and contrasting them against what he described as flood control projects that have become ‘gatasan’ for unscrupulous individuals.

The Senate finance committee where Go serves as Vice Chairperson earlier approved the proposed budget of the OVP.

‘Tiwala po ako sa ating Vice President at sigurado po ako na nagagamit nang tama ang pondo ng bayan,’ Go stated during the Senate budget deliberations on September 29.

He stressed his confidence in the way Duterte’s office manages public funds, recalling his years of service under former President Rodrigo Duterte and his familiarity with the Duterte family’s approach to clean governance.

‘Sa totoo lamang po, matagal po akong nagtrabaho kay former President Duterte at naabutan ko po noong siya po’y naging bise mayor ng Davao, [at mayor] si Vice President Sara. Kung istrikto po si dating mayor at dating Pangulong Duterte sa gobyerno, mas istrikto po si VP Sara at alam ko pong magagamit talaga ang pondo para sa pantulong sa ating mga kababayan,’ he assured.

‘Kaysa naman po napupunta lang sa flood control na gatasan po ng iilang mapagsamantala,’ Go cited, highlighting how billions of public funds have been stolen in anomalous or ghost projects while the OVP budget was decreased despite providing direct benefits to vulnerable sectors.

Go went into detail about the programs rolled out by the OVP in recent years, emphasizing their direct benefits to ordinary Filipinos. He even urged fellow lawmakers to find ways to allocate more funding to the OVP to sustain its services.

‘Sa mga nakaraang taon, nagkaroon ang OVP ng mga programang nagbibigay ng tunay na benepisyo sa ating mamamayan. From medical assistance, to relief operations, educational support, pangkabuhayan programs, at libreng sakay among others,’ he noted.

Among the highlights was the OVP’s Medical and Burial Assistance Program, which he cited has helped more than 187,000 beneficiaries when it was still funded. In 2024 alone, the office extended assistance to over 144,000 individuals in need.

He likewise cited the Magnegosyo ‘ta Day Program, which provides entrepreneurial opportunities, including livelihood assistance and training for marginalized groups. The OVP has also been active in disaster relief efforts, aiding more than 200,000 individuals in calamity-hit areas.

‘Nakikita ko rin po ito dahil ako mismo umiikot rin po ako sa mga tinatamaan po ng bagyo,’ Go added, drawing from his own experience in relief operations across the country.

He also underscored the impact of the Libreng Sakay Program, which has served over a million passengers in Metro Manila, Bacolod, Cebu, and Davao. ‘Ito po yung nabanggit ko kanina na atin pong sinusuportahan,’ he remarked, pointing out that he has also personally supported the OVP’s free transportation efforts ‘in my own small way.’

Go also rooted his remarks in his personal experience as a Davaoeño who had long worked with the Duterte family. He emphasized that his support for the Vice President is based not only on alliance but also on his firsthand knowledge of her good governance style and priorities.

‘As a proud Davaoeño, I have witnessed firsthand the remarkable work of the Vice President when she was still the Mayor of Davao City. And when she became Vice President, I sincerely believe Vice President Duterte’s initiatives have been instrumental in helping this government uplift lives and promote the welfare of all Filipinos,’ Go said.