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DESPITE Elizaldy ‘Zaldy’ S. Co’s resignation as representative of the Ako Bicol Party-list last Monday, the former lawmaker is still not off the hook yet when it comes to the government’s ongoing probe on the multibillion flood-control project anomalies, according to Malacañang.

Also on Tuesday, the government moved to block an alleged attempt to de-register three helicopters said to belong to Co, which would have paved the way for its sale overseas.

Co resigned after House Speaker Faustino ‘Bojie’ G. Dy III revoked the travel clearance of the embattled lawmaker and on the last day of the 10-day deadline given to him by the House of Representatives to return to the Philippines.

In a press briefing on Tuesday, Palace Press Office Claire Castro said local law enforcers will coordinate with the International Criminal Police Organization (Interpol) to bring Co home once the necessary case is filed against him.

‘If a case is filed against him, he cannot avoid it. He cannot run away from it. So, it is better if he is charged, he should just fight for his rights and the truth according to his evidence,’ she said in Filipino.

Co together with other incumbent and former lawmakers were accused of receiving millions of kickbacks from flood control projects.

‘If his name is mentioned [in the investigation], he should definitely answer [the allegations against him] because if he can’t answer it and avoids it, he will only appear guilty. So, it’s better for him to explain his side,’ Castro said.

As of press time, Castro said they are still waiting for information from the Department of Justice (DOJ) if Co has already returned from his trip abroad for a medical treatment in the United States.

DOJ has asked the Interpol to issue a ‘Blue Alert Notice’ to track the whereabouts of Co abroad.

Castro said Co’s status was not discussed during the Legislative-Executive Development Advisory Council meeting held in Malacañang on Tuesday.

Among the bills presented during the meeting, she noted, were the amendments to the Rice Tariffication Act and Anti-Money Laundering Act as well as laws on online lending.

3 choppers

The government has blocked attempts to deregister three helicopters tied to Co, as authorities move to preserve billions worth of assets flagged in the widening flood control corruption scandal.

Public Works Secretary Vince Dizon said the Civil Aviation Authority of the Philippines (Caap) reported that companies tied to Co tried to deregister the aircraft, a requirement before they could be sold prospectively abroad.

‘Caap informed me there were attempts to deregister three choppers of companies linked to Congressman Zaldy Co. Caap informed that the de-registration from the Philippines is a requirement in order for them to sell the aircraft,’ Dizon said in a chance interview on Tuesday.

However, the attempts failed thanks to the Caap’s ‘standing order’ barring the removal of any aircraft flagged in the government’s flood control corruption probe.

Earlier, the DPWH sought the aid of the Anti-Money Laundering Council (AMLC) in freezing more than P4.7 billion worth of aircraft linked to Co’s family and affiliated firms.

Among the assets are a $36-million Gulfstream 350 business jet and two AgustaWestland AW139 helicopters valued at $16 million each, all under Misibis Aviation led by Co’s son, Michael Ellis.

Other assets are registered under Hi-Tone Construction, linked to Co’s brother Christopher, and QM Builder, one of the top contractors now under investigation for anomalous flood control projects.

Investigators have flagged these companies as either directly controlled by Co’s relatives or tied to contractors under scrutiny for alleged ghost and overpriced flood control projects.

Co, who once chaired the House appropriations committee, has yet to return to the country from medical leave in the United States. His name has surfaced repeatedly in the ongoing investigation into the flood control mess, which has unraveled ghost and ‘super substandard’ projects across the country.

Dizon has said that the asset hunt, ordered by President Ferdinand Marcos Jr., is meant to ensure that alleged ill-gotten wealth is not dissipated and that those responsible for the flood control mess are held accountable.

Mreit Inc., the real estate investment trust of Megaworld Corp., on Monday said Andrew Tan’s mall and retail assets will expand its portfolio, which it plans to double to 1 million square meters of gross leasable area (GLA) by 2027.

The infusion of additional assets aims to capture the continued growth in consumer spending and the strong momentum in mall leasing, complementing Mreit’s established base of high-occupancy office assets.

‘Our goal is to diversify our portfolio and expand our revenue base. So while the country is experiencing an impressive growth in consumer activities, we want to tap into these opportunities. This will enable us to deliver both growth and diversification, keeping our portfolio resilient and relevant for the years ahead,’ Kevin Andrew L. Tan, Mreit chairman, said.

Megaworld continues to hold a substantial portfolio of income-generating assets, including around 1 million square meters of office GLA and 500,000 square meters of retail GLA that may still be infused into Mreit over time. This deep pipeline provides flexibility and underscores the long-term growth runway as Mreit accelerates toward its one-million square meter target.

Across the country, foot traffic and sales in Megaworld’s shopping malls have already surpassed pre-pandemic levels, with strong leasing activities from both global and homegrown brands.

Mall occupancy has also reached a record 93 percent as of end-June 2025. This favorable environment underpins Mreit’s strategy to bring in more retail assets in the future, ensuring that its portfolio captures both the growth of business process outsourcing and the resurgence of Philippine consumer spending.

Mreit’s current portfolio spans across Megaworld’s key townships, particularly in Eastwood City, McKinley Hill, McKinley West, Iloilo Business Park, and Davao Park District, with occupancy consistently among the highest in the industry.

The company remains focused on expanding its portfolio through accretive acquisitions while maintaining strong dividend payouts to investors.

Last August, Megaworld reported that its net income in the first half expanded by 23 percent to P12.08 billion from the previous year’s P9.81 billion.

Revenues went up by 10 percent to P43.08 billion from the previous year’s P39.09 billion.

For the second quarter alone, its income grew 30 percent to P6.25 billion from the previous year’s P4.79 billion, while revenues grew at a slower pace at 9 percent to P22.15 billion from the previous P20.22 billion.

The majority owners of Coal Asia Holdings Inc. has signed a share purchase agreement with Pure Energy Holdings Corp. to sell as much as 71.68 percent of the company.

In its disclosure, Coal Asia’s majority stockholders Dexter Y. Tiu, Eric Peter Y. Roxas, Gertim G. Chuahiong, Alexander Y. Tiu, and John L. Capinpin have agreed to sell their ownership to Pure Energy, Pure Water Corp. and Quadwater Corp.

The deal involved some 28.67 billion common shares of Coal Asia. The total transaction value is P220.91 million.

Under the agreement, Pure Energy acquired 4.99 billion common shares, representing 12.48 percent of the company’s issued and outstanding capital stock. Pure Water and Quad each acquired 11.84 billion shares, representing 29.6 percent.

‘The selling shareholders currently expect to finalize this transaction before year-end 2025, subject to the satisfaction of various pre-completion conditions, including, but not limited to, the fulfillment of any mandatory tender offer requirement by the buyers to the shareholders of COAL,’ the company said.

Pure Energy is a holding company, and its first tier subsidiary, Pure Water, together with Quad Water, has an equity participation in Tubig Pilipinas Group Inc.

Pure Water is a unit of Pure Energy, while Quad is not affiliated with either of the two companies.

Pure Energy and Pure Water and Coal Asia have interlocking directors, such as Tiu, Roxas and Chuahiong.

Coal Asia’s shares closed at P0.026 apiece on Monday.

Coal Asia was incorporated on June 11, 2012, primarily to be the holding company of Titan Mining and Energy Corp., a company engaged in the operations of coal mining and energy-related business.

Titan Mining owns coal operating contracts (COC) in Davao Oriental and Zamboanga Sibugay. In 2016, preliminary mine development activities commenced at the Davao Oriental project, although Titan Mining is still awaiting the conversion of the COC from exploration to development and production.

It submitted a five-year work program with a feasibility study for the Zamboanga Sibugay project to the Department of Energy (DOE) in August 2016.

Last January 22, the DOE terminated Titan Mining’s COC No. 166 for failing to submit complete requirements for conversion from exploration to development and production phase, requiring Titan Mining to vacate and restore the contract area.

The company received DOE approval to convert COC No. 159 to development and production phase, subject to obtaining either a certificate of precondition or certificate of non-overlap from the National Commission on Indigenous People.

IN a bid to lure in more investors in the upstream petroleum industry, the Department of Energy (DOE) will extend ‘special allowance’ to operators of marginal petroleum blocks, new and frontier areas.

Department Circular no. 2025-3-17, signed by DOE Secretary Sharon Garin on September 23, provides special allowances that allow for maximum benefits to the country and, at the same time, provide reasonable returns to private companies that render financial and technical services and assume all the risk of petroleum exploration. This will make the country’s service contract regime more attractive to investments and improve the state of the oil and gas exploration.

‘The current state of the oil and gas exploration in the country shows low-level investments due to the attendant high risk in petroleum operations,’ the DOE said.

‘There is a need to offer improved fiscal terms to service contractors to complement the other government initiatives in attracting more exploration and production companies to spur exploration activities leading to the discovery of more oil and gas fields in the country.’

A special allowance on marginal petroleum operations shall be granted when the annual operating expenses exceed the cost recovery allowance of 70 percent. The DOE defined operating expenses as those related to produce petroleum but excluding development and exploration cost, and capital expenditures.

Meanwhile, the DOE defines ‘new plays’ as untested geological prospects in productive basins. Under this category, a special allowance of 5 percent of the gross proceeds will be granted only to the first commercial development.

The same allowance shall be granted in frontier areas, which the agency defines as ‘basins with no significant production activity.’

For gas development in remote areas with more than 200 kilometers (km) but not less than 400km from the identified delivery market, a special allowance of 2.5 percent shall be granted. This will increase to 5 percent for areas within the 400km but not less than 800km and 7.5 percent within 800km and above.

To encourage the production of indigenous gas in new plays, frontier, or remote areas, a special allowance of 30 percent of the gross proceeds shall be granted.

The DOE said it continues to adopt new mechanisms and strategies to carry out its plans and programs mandated under PD 87.

CHANGES introduced by lawmakers during budget deliberations are part of the regular budget process, and provide a check and balance mechanism to ensure prudent use of public funds, Senate President Vicente Sotto III asserted Monday.

In a speech at the start of the regular session, Sotto sought to ‘clarify some matters brought to the forefront by recent events,’ after Senate President Pro Tempore reported in a radio interview at the weekend that ‘almost all’ senators made insertions in the 2025 budget. The current budget has been widely deemed ‘the most corrupt’ budget in recent years owing to the diversion of precious resources into graft-ridden flood-control projects.

‘Amendments, insertions or whatever you want to call it, whether individual or institutional, done during the deliberations in the Senate, are part of the regular budget process. It is within the mandate of the Senators to amend and determine the government spending allocation. It serves as a crucial check-and-balance mechanism to ensure that public funds are spent in accordance with the law.

‘It is unfortunate that the issue on ghost projects and failed flood control projects affect and generalized all amendments as illegal or improper,’ Sotto declared.

Some of these amendments are for additional classrooms, farm to market roads and bridges that will benefit our people, especially those in the far flung provinces. Some of which were never funded and were tagged ‘for later release’ (FLR). These requests come from LGU’s, province, municipalities and even barangays that were not included by their respective Regional Councils due to numerous reasons. These basic services are as equally important and it is within the duty of the Senators, upon assessment, to include these amendments that will benefit the people.’

He then assured the public that, as ‘agreed in our caucus, rest assured that for the 2026 budget, the Senate will institute changes for greater transparency, people’s participation and accountability. That is the reason that we have included live streaming in all the steps of the budget process.’

Palace: No ‘suspicious insertions’

Suspicious insertions by lawmakers in the future national budget will not be tolerated under the Marcos administration, according Malacañang.

This after Senator Lacson exposed that there were P100-billion total insertions from almost all senators of the 19th Congress in the 2025 General Appropriations Act (GAA).

He said that while the said insertions were not entirely illegal, it was suspicious.

Palace Press Officer Claire Castro admitted that Marcos was not aware of the said insertions in the 2025 GAA, but she said it will no longer be allowed in future national budgets, especially after the President and the public have expressed outrage against any corrupt practices in government public works.

‘When the budget was implemented, he definitely did not know in detail what the insertions of the said senators were,’ she said in Filipino in a press briefing in Malacañang last Monday.

‘But now, because the President has really seen and really noticed what happened to the funds for flood control projects, it has also resulted in him knowing about those kinds of insertions,’ she added.

The President created the Independent Commission for Infrastructure, which was tasked to investigate sub-standard and non-existent flood control projects and then recommend to concerned government agencies the prosecution of the involved individuals or parties.

In his fourth State of the Nation Address (SONA), Marcos said he will veto the 2026 GAA if it contains any provisions, which are not aligned with the priority of his administration.

Swift justice is essential not only for the law to function properly but also for maintaining the people’s faith in democracy. The recent budget hearings on the judiciary-and the emphatic calls from Senators Sherwin Gatchalian and Francis Pangilinan, as well as members of the House-underscore a simple truth: without prompt and effective disposition of corruption cases, public trust in government will continue to erode, and the rule of law will become a meaningless phrase. (Read the BusinessMirror story, ‘Judiciary told: Resolve corruption cases swiftly,’ September 25, 2025).

The scale of the corruption scandals now roiling the country-bluntly described by Sen. Pangilinan as ‘the largest corruption scandal’ in our history-demands a proportionate response from the institutions charged with accountability. The judiciary cannot wait on the sidelines while allegations proliferate and evidence grows cold. Speedy trials and decisive verdicts are a deterrent; delays are a license to plunder.

Sen. Gatchalian’s commitment to supporting initiatives that enhance court efficiency is a positive step: funding for judges, staff, modern case-management systems, digital filing, secure virtual hearing infrastructure, and well-equipped hearing rooms will all help reduce the average caseload of 291 cases per judge. Yet money alone cannot cure systemic bottlenecks. The judiciary must present a clear, time-bound roadmap for case disposition, as Gatchalian has urged, and be held accountable for meeting concrete milestones.

Rep. Chel Diokno’s insistence on fast-tracking corruption cases and creating a permanent monitoring database for convicted officials is precisely the kind of constructive pressure that can close accountability gaps. A national registry that tracks the status of cases, convictions, appeals, and the actual execution of sentences would address a perennial problem: convictions on paper that fail to translate into real consequences.

Reforms should also target procedural bottlenecks. The Sandiganbayan’s move to draft rules shortening corruption trials to 120 days, if crafted carefully to protect due process, could be transformative. The danger is twofold: in rushing procedures, courts must not sacrifice the rights of the accused or the thoroughness of fact-finding; nor should shortened timelines be used as a veneer to suggest action where meaningful reform is absent. Any accelerated timetable needs complementary investments-more prosecutors, better forensic capacity, judicial training, and a mechanism to prioritize complex, high-impact cases.

It is also telling that the Justice Sector Convergence Program-intended to coordinate replies across agencies and help monitor convicted officials-had its funding slashed from a proposed P475 million to P175 million. Cutting coordination tools while promising faster justice is a contradiction. If the goal is to restore trust, the state must be willing to invest in the systems that make law enforcement, prosecution, adjudication, and correctional follow-through possible and transparent.

Finally, public trust is not rebuilt by prosecutions alone. It requires consistent institutional performance, visible enforcement, and a political culture that respects outcomes even when they affect powerful actors.

The scandal of misplaced public funds has real victims: communities left vulnerable to floods and citizens deprived of services. The remedy is straightforward: equip courts to act promptly, improve inter-agency monitoring so convictions mean enforcement, and sustain the political will to let justice run its course.

Swift disposition of corruption cases is the most credible antidote to cynicism. The 2026 judiciary budget debate must move beyond rhetoric to measurable reforms: funding that matches stated priorities, enforceable timelines for case resolution that respect due process, and an integrated monitoring system that makes accountability visible and immutable. Without these, promises of reform will remain just that-promises. With them, the country can begin to recover one of its most precious assets: the public’s trust.

For Filipinos, education is more than just a personal goal; it’s the key to a better future and a means to uplift an entire family. However, for those who live in remote areas, work, or balance family responsibilities, attending a traditional college may not be within reach.

Fortunately, fully online programs like Mapúa University’s ÚOx (Ubiquitous Online Experience) are changing the narrative, providing quality education that is responsive to the current realities of Filipino learners.

ÚOx leads digital transformation

A product of the university’s efforts to lead the educational sector’s digital transformation, Mapúa ÚOx was launched in 2018 with its first fully online master’s program in industrial engineering. This was followed by various master’s degrees in engineering and information technology. In 2021, ÚOx began offering undergraduate programs in Industrial Engineering, Electrical Engineering, Electronics Engineering, Computer Engineering, Computer Science, and Information Technology. Since then, ÚOx has helped non-traditional students in pursuing their dreams of earning a college or postgraduate degree.

Mapúa’s Associate Dean for the Institute for Digital Learning, Dr. Ardvin Kester S. Ong stated that ÚOx’s courses, methodology, educational tools, and curriculum uphold the university’s century-old tradition of high-caliber education, despite its online asynchronous setup.

‘Parents can be fully assured that ÚOx programs are built on the same foundation of academic rigor and excellence that defines Mapúa University. ÚOx programs comply with and even exceed national standards set by the Commission on Higher Education. Our learning materials have also been meticulously crafted and certified by Quality Matters (QM), the global gold standard for online course design,’ said Dr. Ong.

Making top-tier academic programs accessible online democratizes education, as it removes barriers such as distance, time, long commutes, and expenses such as allowances, fares, and uniforms. It gives students the autonomy to steer their learning journey while managing other personal priorities.

ÚOx bridges distances

Santthea Maund E. Marasigan, a third-year Computer Engineering student from Occidental Mindoro, no longer has to choose between her health and her education. Previously struggling with a demanding commute, homesickness, and health issues, she found that the fully online program at ÚOx bridged the distance for her. Now, Santthea has the time and energy to balance her studies, engage in student organizations, and take on additional microcredentials without the strain of extensive travel.

The program also made it possible for Kuwait-based Keithlyn Cassandra Dullas Cajucom to pursue her degree from thousands of miles away. Now in her third year of Electronics Engineering, Keith found the asynchronous lectures especially beneficial since she could dedicate extra time to challenging subjects.

ÚOx balances educational goals with family priorities

For third-year Electronics Engineering student Danielle Ann D. Acorda, the digital program was the ideal solution, allowing her to balance her studies and family commitments. Although focused on completing her second degree, Dane also needed to have ample time for her family and household tasks, which the fully online course provided.

Fourth-year Industrial Engineering student, Klarisse Nicole N. Savino, also shared this sentiment.

‘ÚOx gave me the balance I needed: the flexibility to stay close to home while supporting my family, without putting my goals on hold. It also gave me space to explore other sides of myself. I had time to take on personal projects, join competitions, and even pursue creative passions that keep me grounded outside of academics,’ said Klarisse.

ÚOx gives students the freedom to wear different hats

The digital-first program also paves the way for students to juggle different roles, as in the case of third-year Information Technology (IT) student Fatima. She is her dad’s primary caregiver, oversees housework, tutors, and is a virtual assistant in training. Through the self-paced modules, she can schedule her studies around her tasks without feeling overwhelmed.

ÚOx means affordable and accessible learning

The ÚOx program’s flexibility and affordability are transforming students’ lives. For IT student Eric Vincent Bahian, the program has eliminated the high costs and time wasted on daily commutes, allowing him to save money and dedicate more time to upskilling and hobbies.

Similarly, Dino Alfred Timbol, another IT student, uses the flexible structure to learn additional programming languages and focus on personal self-improvement, proving that the online model allows students to build both their academic and professional futures.

While these testimonies show that ÚOx has a definite home-court advantage, aspiring fully online students should be self-motivated, disciplined, resilient, and digitally literate to truly thrive.

Digital education offers both freedom and responsibility. Unlike traditional schooling, which has fixed schedules, in-person instructors, and classmates who remind peers to study, fully online programs place the responsibility on students to manage their time and learning. They are expected to utilize productivity tools, online consultations, collaborative projects, and e-resources as needed. This approach trains them to become resilient, self-motivated individuals with workplace-ready skills.

‘That’s what makes ÚOx powerful: it doesn’t just prepare you for work, it prepares you for life. It teaches you to manage your time, juggle responsibilities, and stay disciplined while still protecting the things that matter most. ÚOx doesn’t just teach you to study independently-it teaches you to thrive independently. And that kind of strength stays with you for life,’ added Klarisse.

Siam Cement Group (SCG), a leading business conglomerate founded in Thailand, continues its long-standing commitment to education by awarding scholarships to 290 deserving students in the 17th year of its ‘Sharing the Dream’ program.

Since its inception in 2008, the program has been a cornerstone of SCG’s corporate social responsibility efforts, providing essential educational assistance to underprivileged yet promising students across the regions where the company operates-including countries like the Philippines, Vietnam, Indonesia, Cambodia, and Laos.

This year’s theme, ‘Green Generation,’ highlighted the program’s strong belief that every person’s potential matters and that education is the key to building a stronger, more sustainable nation.

SCG Country Director Mr. Jirasak Kaewubol echoed this theme, stating, ‘We believe in the value of individuals. That’s why we believe building human capital is the most important, which we achieve through education and upskilling people. That is what we have been doing for so many years.’

The official turnover ceremony on September 12 at Acacia Hotel Manila saw 250 high school students and 40 college students from Batangas, Manila, Bulacan, and Taguig receive their scholarships.

High school students were awarded an educational assistance package of P12,000 each while the college students were given P20,000 annually to support their educational journeys.

‘The Royal Thai Embassy really appreciates the initiative of SCG. SCG also plays a part in promoting people-to-people connections, which I think is very important and is a strong foundation for every policy that the government would like to move forward with,’ said Her Excellency Makawadee Sumitmor, the Thai Ambassador to the Philippines.

A privilege and a commitment

For 17 years, the Sharing the Dream program has awarded over 4,000 scholarships in the Philippines. This enduring commitment is rooted in a meticulous selection process that carefully chooses students for whom the scholarship will be an instrumental stepping stone toward their dreams.

High school applicants must maintain an average grade of 85% or higher with no grade below 80%, while college student applicants must maintain a general weighted average of at least 1.75. All applicants are also required to demonstrate active participation in non-academic and extracurricular activities.

An SCG scholarship alumnus, Ma. Jesiery Rose F. Guevarra, knows this process well, having received scholarships from SCG for both high school and college, which helped her achieve her dream of becoming a nurse.

‘It’s important for you to be true to yourself for them to see the genuineness of your heart,’ she advised, adding that showing eagerness is crucial for SCG to see an applicant’s true intentions and promise.

Guevarra, who benefited from the program’s support, describes the scholarship as ‘a fuel of my dreams. because when you know there’s someone willing to help you, that’s when you push forward to dream more.’

Similarly, former SCG scholar Ma. Theressa F. Orbeta, who received support for eight years and is now an employee of the company, highlighted the program’s holistic approach. ‘SCG doesn’t just help us financially; we gradually discover ourselves and realize our dreams,’ she said.

Orbeta further emphasized the program’s focus on personal growth beyond financial assistance. ‘I also experienced collaboration and socializing activities with other scholars,’ she explained. ‘Through these, we learned about their stories and also gained emotional intelligence.’

‘The Royal Thai Embassy really appreciates the initiative of SCG. SCG also plays a part in promoting people-to-people connections, which I think is very important and is a strong foundation for every policy that the government would like to move forward with,’ said Her Excellency Makawadee Sumitmor, the Thai Ambassador to the Philippines.

A partnership for uplifting Filipino lives

The partnership between SCG and the Department of Education is a powerful one, as highlighted by DepEd Director, Atty. Camara Jr.

He emphasized: ‘We see through the high school students that it was not only the material things that were brought in, but actually the confidence that empowers them. That actually changes not only their lives but the lives of their families and the communities as well.’

Atty. Camara further elaborated on the broader impact of this collaboration. ‘This partnership brought not only the resources of SCG but also a sense of solidarity between our two countries,’ he said.

He believes the program demonstrates how international friendship and industry collaboration can significantly strengthen a nation’s local education system. ‘SCG’s presence in our communities shows that the challenges of poverty and inequality can be confronted not just by the Philippines, but with our partners,’ he added.

Drawing on its 17-year history of providing educational support in the Philippines, SCG’s ‘Sharing the Dream’ program continues to champion the next generation of Filipino leaders. The initiative goes beyond financial aid, strategically investing in students from select areas by providing comprehensive assistance, fostering strong character, and encouraging active community participation.