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More people could face charges in connection with the patrol car accident that left five detainees dead in Barangay Payatas, Quezon City last week, according to the Philippine National Police.

PNP chief Gen. Jose Melencio Nartatez Jr. has ordered the Directorate for Investigation and Detective Management to look into the incident.

To avoid speculations, Nartatez said investigators should wait for the result of a third party inspection by Toyota, the patrol vehicle’s manufacturer.

PNP spokesman Brig. Gen. Randulf Tuano said the liability might not stop with the vehicle’s driver, a patrolman, who was charged with reckless imprudence resulting in multiple homicide, multiple physical injuries and damage to property.

‘We are looking into the possible lapses of the PNP, not only the QCPD (Quezon City Police District),’ Nartatez said at a press briefing at Camp Crame.

The detainees died from severe blunt trauma. Five others, another inmate and four police officers, were injured.

Lt. Col. Josef Geofrey Lyndon Lim, who heads the QCPD’s traffic enforcement unit, said the seven-year-old police vehicle was undergoing monthly roadworthiness inspections prior to the fatal crash.

Lim said the driver lost control of the vehicle while traversing Payatas Road.

Addressing speculations that the vehicular crash was intentional, Lim said two police officers sustained severe injuries, one suffered broken ribs and the other still undergoing treatment for bleeding in the kidneys.

The driver continues to have chest pains and will undergo a computed tomography scan, police said.

It was once a sprawling business empire that was, at one point, the biggest and most powerful in the country.

For instance, there’s the Lopezes’ Meralco, a power distributor with a franchise area covering as much as 60 percent of the whole country; Maynilad, a water utility company in charge of the entire western half of the capital region; a tollway connecting Manila to Northern Luzon; a trailblazing newspaper, The Manila Chronicle; 25 radio and TV stations; a pioneering fixed-line telecommunications service (remember Bayantel?) and many, many more companies here and there, all previously owned by the Lopezes.

War chest

It was quite literally a sweet success story that started with sugar.

The Lopez brothers of Iloilo, Eugenio and Fernando, parlayed their family’s 3,700-acre sugar plantation on Negros Island into one of the Philippines’ biggest business empires, according to a Sept. 7, 1962 Time magazine article. Thus, from the so-called sugar wealth, emerged a bigger and more formidable business conglomerate.

The 1950s to early 1970s became the Lopez family’s golden age – with three mammoth businesses, Meralco, ABS-CBN Corp. and Meralco Securities Corp., the holding company that later became the forerunner to First Philippine Holdings Corp.

But martial law, wrong political bets that affected their regulated businesses, bad debts incurred in the post-Marcos Sr. era, a string of bad acquisitions, mismanagement and younger generations who lived – and continue to do so – like royalty, all resulted in the troubles of the once-upon-a-time formidable empire.

In short, the Lopez Group became a victim of its own success.

But through the ups and downs, Don Eugenio’s children – Eugenio ‘Geny’ Lopez Jr., Oscar Lopez, Presentacion Lopez-Psinakis, Manuel ‘Manolo’ Lopez and Roberto Lopez – tried to resolve the challenges quietly and within the family.

Third generation

But the second generation in Don Eugenio’s blood line has passed and the peaceful co-existence seems to have died with them.

It’s now the third generation cousins who are in charge and we’re now seeing how this is turning out to be – an ugly public fight against their cousin Federico ‘Piki’ Lopez.

On Monday, each of the three branches of the Lopez majority (71 percent) got together to collectively issue a public statement, stressing that they have lost trust and confidence in their cousin Piki.

‘Good corporate governance requires transparency and timely disclosures on decisions that have a material financial and strategic impact on the Lopez group. Piki did not afford us such.

‘We were neither informed nor consulted about the P50-billion sale of 60 percent of First Gen’s natural gas business to Prime Infrastructure last November. Again, the same happened this April, when First Gen acquired a 33 percent stake in Prime’s hydropower business for P62 billion.

‘Excluding us from such significant decisions was a clear failure in Piki’s fiduciary responsibility and a circumvention of corporate governance.

‘If that were not enough, we discovered embedded in these deals, not one, but two poison pills. If Piki and his designates are removed from their management roles, First Gen will pay Prime P24 billion and allow Prime to buy out First Gen from the gas and hydropower deals at a 25 percent discount.

‘Through the poison pills, Piki secured his position as chairman and CEO and secured management control of the company, effectively making him indispensable because the cost of removing him, even for non-performance, would be too great.

‘Piki’s fiduciary duty mandated him to place the interests of the beneficial owners above his own, ensuring he did not use his position for personal gain. This was not the case. Piki’s interests superseded those of his shareholders.

‘It was only ethical that Piki should not have asked for or accepted the poison pill without consulting the majority shareholders,’ the majority said.

The statement was signed by 12 third generation Lopez members: Gabby Lopez, together with his siblings and cousins Maria Cristina Rosario Lopez Grassi, Roberta Pilar Lopez Feliciano, Maria Margarita Lopez Lichauco, Maria Eugenia Psinakis Brown, Rafael Lopez, Ernesto Miguel Lopez, Manuel Lopez Jr., Ramon Javier Lopez, Miguel Lopez, Michael Lopez Psinakis and Martin Lopez.

The way I see it, the third generation’s troubles stem from the reality that under their leadership, the business became parochial – divided into fiefdoms without much care for anything outside their respective territories.

Piki, for instance, must have had no choice but to align with tycoon Enrique Razon, now the country’s richest man, who is known for his agility and astuteness, regardless of the shifting political tides.

And why did he need an ally? Because First Gen has not been able to secure long-term contracts for its gas output – or at least not in the way it used to before, which were quite advantageous to the Lopezes.

Razon, as the new owner of Malampaya, in turn, would have a guaranteed off-taker, so it was a deal that worked for both tycoons who were La Salle classmates dating back to their grade school days.

As I said, it was Piki protecting his turf and when he didn’t agree to save ABS-CBN the way Gabby wanted it, Gabby felt the existential crisis of his own kingdom.

Ultimately, the focus was on protecting their respective fiefdoms, not saving the whole Lopez empire that their grandfathers and fathers built.

Thus, as a source told me, ‘there’s no empire anymore. If this were a movie, we’re seeing the closing credits.’

‘In short, the Lopezes are fighting over crumbs,’ the source added.

There are only two ways this would end: a forever war that would eventually diminish the value of their companies’ shares or the cousins agree to just sell everything and divide the loot.

Either way, it’s a bitter ending for an empire that was built on sugar.

At a wet market, a mother reaches for a kilo of rice; then hesitates. She recalculates. Puts some back.

No drama. No announcement. Just a humbling and quiet adjustment that millions of Filipinos now have to endure daily. This is how a food crisis begins – not with empty shelves, but with smaller meals. And this has been ongoing.

But behind every rising price is a deeper story we keep refusing to tell. The people who grow our food are disappearing. The average age of Filipino farmers is now over 55. Many are exhausted. Most are uncertain. And their children are leaving to avoid the fate lived by their parents and grandparents.

Farming no longer promises a future. It even barely sustains a present. This is not just a sector in decline. It is a broken system that guarantees a cycle of hardship after hardship.

For decades, we have managed food the way we managed emergencies. With quick fixes. When prices rise, we import. When supply tightens, we buy from abroad. It is fast. It is convenient. And it is politically safe. But this is also dangerously myopic. Shortsighted. At best, hiding a huge problem under the rug. Because almost every import solved today’s problem by deepening tomorrow’s.

And dependence, no matter how comfortable, is never free. While we look outward for supply, our farmers are left to struggle inward against rising input costs. Limited financing, weak infrastructure and the growing unpredictability of climate, especially in our country which is devastated by at least 20 typhoons and floods yearly. In other countries, agriculture is being systematically modernized, digitized and protected.

Here, farmers are left to survive, never to thrive. Being a farmer or a fisherman is synonymous to being poor and deprived of decent homes, access to good medical or health services, a liberating education and actually, even real dignity.

The result is inevitable. Lower than optimal productivity. Low income. Low hope. And when hope disappears, people follow. This is how a nation losses its farmers. Not all at once, but one decision at a time. One child choosing a different life. One field left unplanted. One season skipped. Until the loss becomes massive and irreversible.

For now, we don’t feel or notice it. Markets are still full. Imports fill the perennial gaps. The system appears to still work. But indeed, appearances are often deceiving. Because what we have been building is not resilience. It is reliance.

The more we rely on external sources for food, the more exposed we become to forces beyond our control such as global price shocks, geopolitical tensions, supply chain disruptions. When those pressure hit, they hit fast. And they hit hardest where dependence is deepest. The current war in Iran must have reminded us on this.

Cheaper food, in this context, is not truly a success story. At best, this is an expediency. A needed temporary relief. But a warning sign. A red flag.

It tells us clearly that we have opted for affordability today over stability tomorrow. That we have prioritized temporary convenience over robust capacity. That we have resigned to a system where the most essential sector is also the most neglected. This irony is difficult to ignore.

We call our farmers the backbone of the nation. But we treat them as an afterthought. We celebrate the harvests, but ignore the harvesters. We demand low prices, but remain indifferent to the cost of producing them. This contradiction is definitely unsustainable. Because food security is not just about supply. It is about control, infrastructure, system of support and national discipline.

The solutions are not entirely new. They have been discussed for years. Invest in irrigation that actually delivers water. Provide credit that enables growth instead of trapping farmers in debt. Build farm-to-market roads that reduce waste and increase income. Support technology that improves yield and reduces risk. Break the monstrous control of trading cartels.

No matter how hard the incumbent chief of the agriculture department, Secretary Francisco Tiu Laurel Jr., works, this problem will persist. He simply inherited all these. Yes, despite his relentless efforts and dedication, the structural issues haunting the sector will prevail.

More than infrastructure, what we need is a shift in values. Farming must stop being seen as a fallback and start being recognized as a frontline in national development. Not a symbol of poverty, but a pillar of sovereignty and meaningful independence. A nation that cannot feed itself is not just economically vulnerable, it is strategically weak.

We are at a crossroads, whether we admit it or not. We can continue managing symptoms by importing more, reacting faster, hoping global markets remain stable. Or we can confront the harder and urgent truth. That food security cannot be outsourced. That resilience cannot be imported. And that every year we delay investing in our farmers is a year we move closer to a crisis we may no longer control.

One day, the question will no longer be why food is expensive. It will be why we allowed the very people who feed us to disappear. And by then, the cost of bringing them back may be far higher than anything we were trying to save. And on that day, the shelves might still be full, but the choices and control will no longer be ours. By the time we finally decide to rebuild what we allowed to disappear, we may find that the farmers we needed are no longer there – and neither is the time.

Resurgence marked the boys’ division while sheer domination defined the girls’ side as the ICTSI John Hay Junior PGT Championship got under way Tuesday at the quaint yet punishing John Hay Golf Club here.

Set against cool mountain air and swirling breezes, the course proved to be both scenic and unforgiving. Its steep, rolling terrain and tricky elevation shifts demanded precision and composure – qualities that Zoji Edoc and Tristan Padilla displayed in abundance.

Edoc seized control in the boys’ 7-10 category with a blistering three-under 66, building a four-shot lead over Summit Point leg winner Zach Guico. The rising star from Taytay surged early, firing six birdies over the first 10 holes as he deftly navigated the course’s uphill climbs and downhill drops, where club selection and touch became crucial in the thin mountain air.

‘This leg is especially important given the strength of the field, and I’m doing everything I can to come out on top,’ said Edoc, who appeared more nervous answering questions than tackling the John Hay challenge.

‘I struggled with my approach shots and putting at Summit Point, but I’ve managed to improve in those areas here,’ he added.

Guico, who drubbed Edoc by five shots at Summit Point, threatened early by birdying three of his first eight holes. But the mountain course struck back. Four bogeys over his last seven holes derailed his charge, leaving him with a 70 and trailing Edoc by four shots heading into the final round of the 36-hole tournament.

The rest of the field struggled to keep pace. Mount Malarayat leg champion Kenzo Tan faltered with a 79, placing fourth behind Alexian Ching, who carded a 77.

In the boys’ 15-18 category, Padilla, who placed a distant joint second to Shinichi Suzuki in the series’ opening leg at Mount Malarayat, delivered a near-flawless performance in the boys’ 15-18 division. He gunned down seven birdies against two bogeys for a 64, surging to a commanding six-shot lead over Suzuki, who holed out with a birdie on the ninth to save a 70.

‘I don’t try to predict where I’ll finish. My focus is simply on posting the best score I can,’ said Padilla, who is also banking on his familiarity with the layout, having played in the annual Fil-Am Invitational three times. ‘I know my way around this course.’

Geoffrey Tan also hit a late birdie on No. 8 to tie Suzuki at second, while David Serdenia birdied the ninth to turn in a 73 for fourth.

In the boys’ 11-14 category, Summit Point leg winner Vito Sarines shot three birdies against two bogeys in the last nine holes to fire a 68, five shots clear of Jacob Casuga, who carded a 73.

Chan Ahn, who edged Sarines at Mount Malarayat but fell short at Summit Point, recovered from a frontside 40 with an even-par 34 in the last nine holes for a 74 with Javie Bautista posting a 75 for fourth heading to the final round of the 36-hole tournament.

Meanwhile, the JPGT Visayas-Mindanao Series resumes Wednesday, April 29, at Del Monte in Bukidnon, with local bets expected to contend strongly against a deep field of challengers aiming to make an impact on unfamiliar turf.

All eyes are on Davao’s Ethan Lago, who is chasing a third straight leg win after dominating the boys’ 7-10 division in Mactan and Alta Vista. In the girls’ 15-18 division, a highly anticipated clash looms between Princess Zaragosa and Zero Plete, while Alexis Nailga seeks a second title in the boys’ 15-18 category against tough opposition led by Mhark Fernando III, Armand Copok and Clement Ordeneza.

In the boys’ 11-14 division, Del Monte’s Ralph Batican and South Cotabato’s Laurence and Jared Saban headline the field, with Ken Guillermo and Tobias Tiongko also in contention. In the girls’ 11-14 side, former champion Brittany Tamayo aims to rebound from a tied-third finish, facing a strong group led by Rafella Batican, Maegan Langamin, and Angel Wahing.

The girls’ 7-10 division features Davao’s Soleil Molde taking on Bukidnon bets Faith Frayco and Maxine Cabang. The 7-10 and 11-14 categories will be played over 36 holes, while the 15-18 division spans 54 holes, with ranking points for the Elite Junior Finals at stake in this third leg of the six-stage Vis-Min Series organized by Pilipinas Golf Tournaments Inc.

In the girls’ division at JPGT John Hay, Winter Serapio primed herself up for a second win in three tournaments, posting a 73 to wrest a five-stroke lead over Amiya Tablac, who faltered with a 78, while Cecilia Mamauag took third spot with a 79 in the 7-10 category.

‘My game was good, but I missed a few birdie chances and struggled with my short game,’ said Serapio, who won at Mount Malarayat and settled for second at Summit Point.

Mavis Espedido also moved 18 holes away from nailing her first win in the season after placing fifth at Mount Malarayat and finishing runner-up to Cailey Gonzales at Summit Point as she pulled ahead by six despite a 76 as Kelsey Bernardino wavered with an 82 and Ronee Dungca and Tyra Garingalao carded identical 83s.

Dungca, who swept all three tournaments in her JPGT debut in the girls’ 7-10 division last year, found the transition to the 11-14 category far more challenging. It wasn’t just the stronger competition that tested her, but also the course’s tricky, well-kept layout – one that rewards precision yet punishes even the slightest miscalculation.

Lisa Sarines made a strong return to the JPGT in the girls’ centerpiece division, seizing an early four-shot lead over Kendra Garingalao and her twin sister, Mona Sarines, despite carding a 73.

Sarines, who previously captured the 15-18 title at Mount Malarayat after a dominant run in the 11-14 division, skipped the Summit Point leg to compete in Japan. Although she managed just one birdie against five bogeys, her performance was enough to establish a commanding advantage as Garingalao struggled to a 77, tying with Mona.

In the girls’ centerpiece division, Lisa Sarines heralded her return to the JPGT with another strong start, wresting an early four-shot lead over Kendra Garingalao and twin sister Mona Sarines despite a 73.

Sarines, who won her first crack at 15-18 at Mount Malarayat following a dominant campaign in the 11-14 division before skipping the Summit Point stop to compete in Japan, hit just one birdie against five bogeys but proved enough to net her a commanding lead as Garingalao struggled with a 77 in a tie with Mona.

‘I wouldn’t say my round was very good. I’m not too happy with it – there were a lot of missed opportunities, and overall I could have done much better today,’ said Lisa Sarines, emphasizing the need to practice more and place greater focus on the mental side of her game.’

For her part, Summit Point leg winner Rafa Anciano failed to find her rhythm, limping to an 80 for joint fourth with Levonne Talion.

Philippine lender Metropolitan Bank and Trust Company (Metrobank) has launched a financial literacy campaign anchored on behavioral insights and storytelling, as rising living costs push households to reassess spending and savings habits.

Dubbed ‘Moneygurado,’ the initiative combines a public awareness campaign with a docuseries that frames money management through real-life Filipino experiences rather than traditional rule-based guidance.

The program reflects the bank’s broader strategy to deepen customer engagement by translating financial concepts into everyday decision-making.

The campaign’s name is derived from the Filipino word ‘manigurado,’ or ‘to make sure,’ blending ‘money’ and ‘sigurado’ to emphasize confidence and security in financial choices.

‘Moneygurado is about helping Filipinos become more intentional with their money by understanding the ‘why’ behind their decisions,’ Metrobank Chief Marketing Officer Digs Dimagiba said. ‘By starting with real stories that reflect everyday realities, we make these conversations more relatable-and ultimately more actionable.’

At the core of the campaign is a docuseries that examines how cultural norms shape financial behavior, from borrowing and saving to spending and resilience.

Instead of prescribing fixed rules, the series explores how deeply embedded values-such as utang na loob (debt of gratitude), hiya (social shame), and pakikisama (social cohesion)-influence financial decisions.

The premiere episode features entrepreneur Audrey Cruz, founder of OnlyPans Taqueria, whose business rebounded after a fire disrupted operations. The narrative highlights a central theme-resilience alone is insufficient without financial preparation.

Subsequent episodes will feature filmmaker Jose Javier Reyes, historian Xiao Chua and author Michelline Suarez, each examining different aspects of financial behavior through a cultural lens.

Shifting From Reactive to Intentional Finance

The rollout comes as Filipino households contend with elevated fuel prices, higher food costs, and broader economic uncertainty-conditions that are prompting a shift from reactive spending to more deliberate financial planning.

Metrobank said the campaign aims to reposition financial literacy as a practical mindset rather than a theoretical concept, encouraging behaviors such as goal-based saving, disciplined spending, and risk awareness.

By embedding these principles in culturally relevant narratives, the bank is seeking to close the gap between awareness and action-an area where traditional financial education efforts have often fallen short.

Metrobank plans to complement the docuseries with digital learning modules and community-based materials distributed through its Earnest platform, targeting students, families, and emerging professionals.

The lender, one of the Philippines’ largest banks by assets, has been expanding its consumer engagement initiatives as competition intensifies across retail banking and digital finance

The Bureau of Internal Revenue has filed tax evasion complaints against former presidential spokesperson Harry Roque, his wife and an associate over alleged violations tied to a company transaction.

In a statement dated Monday, April 27, the BIR said the complaint was filed with the Department of Justice against Roque, his wife Mylah Reyes Roque, and Percival Sazon Ortega.

The case involves alleged tax violations related to Biancham Holdings and Trading Inc, which was linked to the raided Lucky South 99, a Philippine Offshore Gaming or POGO hub in Porac, Pampanga.

The BIR said its investigation found that the respondents failed to file required tax returns and pay taxes arising from a transfer of shares and an increase in authorized capital stock.

The bureau estimated the tax deficiency at more than P3.35 million, inclusive of surcharges and interest.

“The Bureau found probable cause to charge the Roques and Ortega with willful attempt to evade taxes under Section 254, and failure to file tax returns under Section 255, of the National Internal Revenue Code of 1997, as amended,” the BIR said.

Roque abroad

Roque is currently in Europe, where he said he is seeking asylum.

An arrest warrant has been issued against him by a Regional Trial Court in Angeles City, Pampanga, in connection with a separate case for qualified human trafficking.

The charge stems from his alleged ties to Lucky South 99, a Philippine Offshore Gaming Operator in Porac, Pampanga.

Roque has denied the allegations.

No court ruling has been issued on the tax complaints, and those named are presumed innocent unless proven guilty.

Young tycoon Jaime Alfonso Zobel de Ayala beamed with his charming smile when asked how many BYD vehicles he owns.

Despite rushing to his next appointment, the 35-year-old chief executive officer of ACMobility stopped and told The STAR: ‘I respectfully decline (to answer) that one, but it could be growing over the coming years. I have a growing fondness for it.’

BYD has indeed been putting a big smile on Jaime Alfonso’s face, and perhaps those of Ayala Corp.’s top executives as well, given how the brand has been revving up sales of the conglomerate’s mobility arm.

It is also amassing a rapidly growing customer base in the Philippines. No less than tycoon Isidro Consunji is a self-confessed fan – a proud owner of not one, but a number of BYD vehicles. The chairman of the DMCI Group has been sharing how satisfied he is with the brand.

A former cabinet official is also raving about his BYD.

ACMobility has been riding high on its BYD partnership, which started in August 2023 and was renewed earlier this year.

Jaime Alfonso called BYD as ‘the primary engine’ in the acceleration of ACMobility’s unit sales by 82 percent to nearly 43,000 vehicles, and revenues by 84 percent to almost P55 billion in 2025. BYD also contributed more unit sales last year at 25,094 than the company’s entire portfolio in 2024, which stood at 23,483.

He said ACMobility’s successful partnership with the Chinese automotive giant is a reflection of Ayala’s DNA in using what it knows about the local market and teaming up with the best world-class partners.

‘BYD and Ayala’s partnership, it’s a reflection of the spirit of what Ayala likes to do. We like to address key national pain points, find the best partners in the world who have either the technology or the research and development capabilities to solve this problem best,’ he said.

For the only son of tycoon Jaime Augusto Zobel de Ayala, BYD’s main advantage is that it is a vertically integrated manufacturer which has access to a lot of the raw materials that are needed to make the battery technology.

‘We also have to keep in mind, BYD was originally one of the largest battery manufacturers in the world, and that vertical integration provides a significant cost advantage, particularly for emerging markets like ourselves,’ he said.

Last year’s strong performance signals only the beginning of what could be ACMobility’s more high-speed growth in the coming years, specially as the company looks toward becoming profitable this 2026.

In 2025, ACMobility reported that the total industry already crossed a very important threshold, with 12 percent of all vehicles sold being in the electrified segment.

‘In particular, new energy vehicles sales grew more, from 23,000 in 2024 to just under 60,000 in 2025. Battery electric vehicles volume tripled, while hybrids more than doubled. Again, these were trends prior to the Middle East crisis, and since then, we believe that this demand will be even more pronounced at this point,’ Jaime Alfonso said.

ACMobility has made a deliberate effort to expand its mix of electrified models to become the most comprehensive portfolio of electrified vehicles in the country.

The company’s diverse portfolio currently includes two mainly distribution businesses in BYD and Kia and two exclusively retail businesses in Isuzu and Denza.

Nearly 60 percent of its retail sales last year were from electrified models, either plug-in hybrids or battery electrics, the models that require charging – a significant jump from the previous year’s mix, which stood at just 23 percent of total unit sales in the ACMobility portfolio.

From just five electrified models in 2023, ACMobility also now offers a total of 21 models across the battery electric vehicles, plug-in hybrid electric vehicles and hybrid technologies.

In leading the electric vehicle charge for the Ayala Group, Jaime Alfonso, the man in the driver’s seat, has no intention of hitting the brakes as far investments when it comes to enhancing the ecosystem, reinforcing partnerships and introducing new models.

Listed gaming service provider PhilWeb Corp. saw a return to profitability in the first quarter, as efforts to diversify revenue streams and strengthen core operations have started bearing fruit.

In a stock exchange filing, PhilWeb said it booked a net profit of P13.9 million in the first three months, reversing the P25.5 million net loss recorded in the same period last year.

Its revenue rose by 30.4 percent to P233.1 million from P178.8 million.

The company attributed the positive performance primarily to its online e-gaming solutions, a business that includes online gaming platform technology, systems integration, content distribution and operational supports.

PhilWeb said online e-gaming solutions recorded revenues amounting to P79.3 million during the quarter, accounting for approximately 34 percent of total revenue.

As a result of its stronger financial performance during the period, the company said it was able to reduce its negative stockholders’ equity to P240.5 million as of end-March from P254.4 million as of Dec. 31, 2025.

‘The negative stockholders’ equity does not arise from operational underperformance but is primarily attributable to the accounting treatment of treasury shares. This distinction underscores the group’s continued financial viability and its capacity to operate as a going concern,’ PhilWeb said.

Last year, the company disclosed plans to undertake several initiatives aimed at improving revenue and raising additional capital to address negative stockholders’ equity.

PhilWeb said it continues to enhance its revenue-generating capacity through the expansion of its electronic gaming system network, with the number of sites increasing to 126 in 2025 from 94 in 2024.

The company said the expansion reflects its continued efforts to scale its nationwide footprint and enhance recurring revenue streams.

PhilWeb is also proposing an increase in its authorized capital stock to P9 billion, consisting of six billion common shares and three billion preferred shares, from P2.6 billion, consisting of 1.85 billion common shares and 750 million preferred shares.

The planned increase is intended to provide the company with greater flexibility to raise capital, support future growth initiatives and further strengthen its financial position.

The company said it would likewise continue to pursue its plan to reissue treasury shares either to the open market or to existing stockholders, subject to applicable regulatory requirements and market conditions.

‘This initiative is expected to enhance capital efficiency and support the company’s ongoing financial strengthening efforts,’ it said.

The Philippine peso crashed to a new record low of P61.30 against the US dollar on Tuesday, April 28, breaching the 61-per-dollar level for the first time.

Data from the Bankers Association of the Philippines as of 4 p.m. showed the peso closing at its worst-ever finish, nearly 60 centavos weaker than its previous record low of P60.748 set on March 31. The peso opened the day at P60.8.

This comes just over a month after the peso first slid past the 60-per-dollar mark.

In the time between, the currency briefly recovered, surging 90 centavos on April 8 to close at P59.43, its strongest since March 12, after the US and Iran agreed to a two-week ceasefire and reopened the Strait of Hormuz.

But the reprieve was short-lived and peace talks on the Middle East conflict eventually stalled, sending oil prices back up and, eventually, dragging the peso with them. By April 25, the currency had sunk back past P60.70 before blowing past 61 for the first time.

The Bangko Sentral ng Pilipinas (BSP) last week approved a surprise 25-basis-point rate hike to 4.5% – its first increase in two years – and now projects inflation averaging 6.3% this year, far above its earlier forecast of 5.1%.

BSP Governor Eli Remolona warned inflation could stay above 5% for the rest of 2026 and signaled more hikes ahead

As Filipinos continue to navigate a challenging job landscape, the search for meaningful and stable work remains a daily reality for many. Across all most-loved SM Supermalls nationwide, job fairs are held year-round-continuously providing accessible employment opportunities within local communities.

This Labor Day season, the initiative takes on greater significance. In observance of Araw ng Manggagawa on May 1, SM Supermalls brings together jobs, skills development and essential support systems at scale.

This highlights the vital role of employment in nation-building and reinforcing its commitment to helping Filipinos move forward.

Across SM malls nationwide, jobseekers-from fresh graduates to career shifters-are given the opportunity to take the next step toward a better future.

More than a hiring event, SM Job Fairs have evolved into a full career ecosystem-connecting talent with employers while also enabling access to government services and upskilling opportunities that help individuals stay job-ready in a rapidly changing workforce.

A job fair that works

For many Filipinos, especially first-time jobseekers and breadwinners, SM Job Fairs offer more than convenience-they deliver real outcomes.

‘Makakatulong yung ganitong pa-event sa mga pamilya,’ shared Joshua Bulauitan, hired on the spot as a Sales Clerk. ‘Kung wala kang trabaho at nagigipit ka na, pumunta ka lang dito-may instant trabaho ka.’

This reflects SM’s strong hiring demand, translating into real jobs-not just applications.

Employers likewise cited the effectiveness of SM Job Fairs in reaching the right candidates efficiently.

‘Sumali po kami dito because we are looking to hire more employees,’ said Lyka Sababan of SM Appliance Center. ‘Alam po namin na maraming jobseekers ang pumupunta dito and effective po talaga ang job fairs para sa mga companies na naghahanap ng new employees.’

One-stop job application made easy

What sets SM Job Fairs apart is its ability to bring everything together in one place. From job applications and interviews to government requirements such as SSS, PhilHealth and other employment documentation, the process becomes faster, easier, and more accessible for every jobseeker.

‘Malaki ang tulong ng SM Supermalls sa PESO at DOLE,’ said Jon Tito, group leader of QC PESO. ‘Kinakalat nila ang opportunities para sa mga naghahanap ng trabaho.’

‘Pinapadali ng ganitong job fairs ang mga oportunidad para sa jobseekers, may hired on the spot ka na at nandito na rin ang mga government agencies para sa requirements.’ explained Adolf Hernandez of PhilHealth QC.

Beyond employment, SM is also strengthening its role in workforce development by introducing upskilling opportunities-including digital and AI learning sessions in partnership with institutions such as Asia Pacific College.

These initiatives aim to equip Filipinos with the skills and confidence needed to thrive in today’s evolving job market. Because today, it’s not just about finding a job-it’s about being ready for what comes next.

More opportunities this April

In the lead-up to Labor Day, SM Supermalls continues its nationwide job fair rollout, providing more opportunities for jobseekers to begin their employment journey:

April 15 – SM City Davao

April 16 – SM City Marikina

April 24 – SM City Novaliches

April 25 – SM City Fairview

April 30 – SM City Trece Martires

These runs ensure that opportunities remain accessible ahead of the Labor Day peak-allowing more Filipinos to connect with employers, apply and get hired.

The main event: May 1 Labor Day Job Fairs

On May 1, SM Job Fairs will be mounted across key locations nationwide, bringing together employers, jobseekers, and partners in one high-impact day of hiring:

SMX Convention Center

SM City Grand Central

SM City Caloocan

SM City Marikina

SM City East Ortigas

SM City Baguio

SM City Laoag

SM City Tuguegarao

SM City Cabanatuan

SM City Marilao

SM City Pampanga

SM City Olongapo Central

SM City Taytay

SM City Bacolod

SM CDO Downtown Premier

SM City Davao

Jobseekers are encouraged to bring multiple copies of their resumes and valid IDs, and visit their nearest SM mall for a chance to be hired on the spot.