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BSP eyes ‘subscription’ model instead of zero transaction fees

STOCK PHOTO | Image by David Dvořáček from Unsplash

THE BANGKO SENTRAL ng Pilipinas (BSP) is studying the possibility of implementing a “subscription” model for small electronic fund transfers such as e-wallet payments to replace transaction fees.

“Because of what we call network externalities, there should be a subscription fee, which is fixed rather than a fee per transaction,” BSP Governor Eli M. Remolona, Jr. said at a Rotary Club briefing on Thursday.

“We’re still trying to figure out how exactly to do that. We’re talking to GCash, we’re talking to Maya, we’re talking to all the participants and we’re going to agree on something.”

The central bank earlier said it is seeking to eliminate transaction fees for person-to-person electronic fund transfers and payments to small businesses.

Since 2023, it has been encouraging banks to formalize the removal of these fees to help boost digital payments.

“As you know, the situation now is between an individual and a merchant. The merchant pays the fees. The individual doesn’t see it but it’s made part of the price that the person pays,” Mr. Remolona said.

“Between persons, between individuals, we’re thinking about making that zero. No fees between up to a certain threshold. We haven’t determined the threshold.”

However, Mr. Remolona noted that there has been a bit of pushback from banks.

“The banks complained that if you do that, the guys who are above the threshold will just divide their transaction so that they fall within the threshold. But there’s some more fundamental issue. It’s not about the fees per transaction. I think that’s the wrong model.”

In his keynote speech, Mr. Remolona said they have been working to study the best model for digital payments in order to boost financial inclusion.

“If you look at the payment system, every time you add one more participant, that’s a cost. It’s a small cost, but that extra participant adds value to the whole system. You have a bigger network of participants. That’s what we call a network externality,” he said.

“We want to try to maximize that by looking at the fee structure, rely less on fees per transaction, and rely more on subscriptions, which is kind of a fixed cost. We hope that will help us maximize network externalities in the payment system and hope that this will lead to greater financial inclusion.”

Latest data from the BSP showed the value of transactions done through automated clearing houses InstaPay and PESONet jumped by 35.2% to P15.62 trillion as of end-November from a year ago.

Digital payments made up 52.8% of the volume of retail transactions in 2023, higher than the 42.1% share in 2022.

The central bank wants online payments to make up 60-70% of the country’s total retail transaction volume by 2028, in line with the Philippine Development Plan. — Luisa Maria Jacinta C. Jocson

Filipino engineers gearing up for nuclear-powered future

FREEPIK

By Sheldeen Joy Talavera, Reporter

WHILE the Philippines is advancing in conventional and renewable energy development, some power companies are also preparing for the country’s nuclear energy future by developing local expertise.

Kenneth S. Tulagan, a 29-year-old distribution engineer at Manila Electric Co. (Meralco), is part of this effort.

Mr. Tulagan graduated with a bachelor’s degree in electrical engineering from the Technological University of the Philippines – Manila in 2017, took his licensure exam, and joined Meralco the same year. He was selected for Meralco’s Filipino Scholars and Interns on Nuclear Engineering (FISSION) program where they were sent to the United States and China to embark on further studies.

Upon their return to the Philippines, these scholars will be reintegrated into Meralco, taking on roles in its nuclear power generation unit.

“There’s a saying that curiosity is an engineer’s best asset. When the program was introduced, I became curious about how nuclear engineering works. With that curiosity, my inner self wants to study the nuclear engineering field more since it’s new here in the Philippines,” Mr. Tulagan said in an interview with BusinessWorld.

Mr. Tulagan is currently pursuing a Master of Engineering in Energy Systems at Harbin Engineering University in China.

“I think the Philippines has good backend support in nuclear energy development since we have a very skilled workforce that can help build the atomic power plant compound itself and also great minds of engineers and scientists that could help the transmission of power from a nuclear power plant facility to our electrical grid,” he said.

Mr. Tulagan said the Philippines is set to benefit from utilizing nuclear energy as it could help reduce rotational brownouts and augment energy supply during summer and peak season.

“Nuclear energy can play a key role in ensuring a reliable and sustainable energy supply for the Philippines,” said Amiela T. Nicodemus, a 27-year-old distribution engineer at Meralco who is also a FISSION program scholar.

“As the country’s demand for electricity continues to rise, nuclear power provides a stable, baseload energy source that can complement intermittent renewables like solar and wind. This helps to maintain grid stability while reducing reliance on fossil fuels,” she added.

Ms. Nicodemus has been sent to the University of Illinois Urbana-Champaign in the US where she is starting to gain a strong foundation in nuclear engineering, probabilistic risk analysis, and renewable energy systems.

“I believe nuclear energy has great potential to meet the Philippines’ growing energy needs,” she said. “With increasing demand for electricity driven by our growing economy, nuclear energy can provide reliable, low-carbon baseload power.”

Ronnie L. Aperocho, executive vice-president and chief operating officer of Meralco, said that the company is committed to building “a highly capable local workforce in leading the Philippines into a nuclear-powered future,” part of its Nuclear Energy Strategic Transition program.

“Through FISSION, we aim to develop industry-ready experts on nuclear engineering who will take a transformative role in addressing the complex challenges of nuclear energy development in the country,” he said.

Under the Department of Energy’s Philippine Nuclear Energy Program, the government aims to have commercially operational nuclear power plants by 2032 with at least 1,200 megawatts (MW), and 2,400 MW by 2035.

An independent nuclear regulatory commission is targeted to be fully operational by 2026, including the determination of the government’s role through policies and/or legislation.

Thus, the necessary laws on the nuclear legal and regulatory framework must be in place by 2025. By 2027, a legal framework for the mechanism for power contracting should be established.

The International Atomic Energy Agency (IAEA), the world’s center for cooperation in the nuclear field, said in its assessment that the Philippines has made “significant progress to address most of the recommendations and suggestions and has adopted a national position for a nuclear energy program.”

In its Follow-Up Integrated Nuclear Infrastructure Review (INIR), the mission team indicated, however, that further work is needed to finalize the Philippines’ nuclear power strategy and to complete necessary studies for future activities related to the electrical grid, industrial involvement, and national legislation.

Patrick T. Aquino, director of the Energy department’s Energy Utilization Management Bureau, said that the development of nuclear energy in the Philippines will be driven by the private sector, with “clear support from the government.”

“We remain optimistic about reaching our targets. The results of the just concluded Follow-Up INIR Mission from the IAEA indicate that substantial progress has been made in our Nuclear Energy Program,” Mr. Aquino said.

The advantage of nuclear energy is that it is high density and is “90% available,” according to Carlo A. Arcilla, executive director of the Philippines Nuclear Research Institute.

“Nuclear can actually back up renewables. They should not be pitted against each other,” Mr. Arcilla said via phone call.

He said that nuclear energy is needed as other baseload technologies such as coal and liquefied natural gas are import-reliant, which is “very expensive” due to the Russia-Ukraine war.

“Mahal na nga ang kuryente natin, mas magmamahal pa (Our electricity is already expensive, and it will become even more expensive). The baseload that can actually bridge the gap, without emissions, is nuclear, but the issue there is it will take time,” Mr. Arcilla said.

While nuclear energy is still young for the Philippines, its workforce is deemed capable of meeting the demands of the specialized field through proper training and international partnerships.

“The Filipino workforce is primed for nuclear energy projects. From our pool of semi-skilled workers, engineers and scientists, the Filipino can be retooled to meet the requirements of the nuclear sector,” Mr. Aquino said.

Meralco’s Mr. Aperocho said that the Filipino workforce is “uniquely positioned to excel in nuclear energy development.”

“With our technical acumen, adaptability, and innovative culture, Filipinos have consistently demonstrated the capacity to master complex technologies,” he said.

The Meralco executive said that programs like FISSION would unlock the potential of Filipinos by providing “exceptional education and meaningful learning experiences on nuclear technologies globally.”

“We see our scholars and engineers as the forerunners of the country’s nuclear energy ambitions. Their technical expertise, coupled with diligence and collaboration, will enable the Philippines to overcome the challenges of adopting nuclear energy,” Mr. Aperocho said.

“I am confident that with the right training and global partnerships, the Filipino workforce will not only meet but exceed the demands of this highly specialized field, driving the country toward energy security and sustainability,” he added.

Meralco sees lower generation charge for January

THE GENERATION CHARGE usually makes up more than 50% of the monthly electricity bill. — PHILIPPINE STAR/JESSE BUSTOS

POWER distributor Manila Electric Co. (Meralco) expects a reduction in the cost of power procured from suppliers for the January billing cycle due to lower electricity prices at the spot market, a company official said on Thursday.

“Indications show a possible decrease in the generation charge in our customers’ bills this January,” Meralco Vice-President and Head of Corporate Communications Joe R. Zaldarriaga said in a Viber message.

The generation charge usually makes up more than 50% of the monthly electricity bill.

Mr. Zaldarriaga attributed the potential reduction to the lower prices at the Wholesale Electricity Spot Market (WESM) due to an “improved supply situation in the Luzon grid as both average peak demand and average capacity on outage went down in the December supply month.”

Preliminary data from the Independent Electricity Market Operator of the Philippines (IEMOP) showed that the average WESM price in Luzon declined by 23% to P3.26 per kilowatt-hour (kWh) amid higher power supply and lower demand.

IEMOP is the operator of the WESM, the trading floor where energy companies can buy power when their long-term contracted power supply is insufficient for customer needs.

“We expect the lower generation charge to lead to an overall rate reduction in this month’s electricity rates,” Mr. Zaldarriaga said.

The possible decline in power rates for January would be the first reduction this year and comes after two consecutive months of hikes.

In December, the overall Meralco rate climbed by P0.1048 per kWh to P11.9617 per kWh from P11.8569 per kWh in November, largely due to a higher generation charge.

The generation charge rose by P0.1839 per kWh, brought by the increased costs from the WESM and power supply agreements.

Meralco is the main power distributor for Metro Manila and nearby areas, covering 39 cities and 72 municipalities, delivering power to around eight million customers.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera

Higher LRT-1 fares likely by April

LRT-1 CAVITE Extension Phase 1 — ARJAY L. BALINBIN

By Ashley Erika O. Jose, Reporter

COMMUTERS will likely pay higher fares on the Light Rail Transit Line 1 (LRT-1) by April as the Transportation department is expected to decide on the private operator’s fare adjustment within 30 days.

The Rail Regulatory Unit (RRU) of the Department of Transportation (DoTr) will decide on Light Rail Manila Corp.’s (LRMC) petition within 30 days from the public hearing on Jan. 9, Transportation Assistant Secretary for Railways Jorjette B. Aquino said.

“Based on the published rules and regulations of the RRU, 30 days maximum from the hearing, the RRU should have a decision,” Ms. Aquino told reporters on the sidelines of LRMC’s fare adjustment public hearing on Thursday.

If the RRU decides to accept and grant a fare increase, the petitioner will be required to publish the decision in major newspapers within three consecutive weeks, and the new fare will be implemented within another 30 days from the last publication date of the decision, Ms. Aquino said.

However, Ms. Aquino clarified that if approved, the fare increase might be lower than LRMC’s initial proposal.

“There is a possibility that the fare increase would not be granted, there’s a possibility that their actual petition would be granted, but there’s also a possibility that it would be granted but in a lower amount than they requested,” she said.

LRMC’s request would raise the total fare for an end-to-end trip on the LRT-1 to P60 for a single journey ticket. This is P15 more than the current fare of P45 from FPJ Station (formerly Roosevelt) in Quezon City to Baclaran Station in Pasay, including the last station of the Cavite extension Phase 1.

For users of stored value cards, the maximum fare would go up to P58 from the current P43 for end-to-end trips.

“But if the RRU decides not to accept, there is no fare increase, then it stops there,” Ms. Aquino said.

“In the case of a grant of fare increase for whatever amount…[it will be implemented] more or less two months and three weeks to three and a half months,” she said, noting that this is considering that no parties would challenge the decision or submit a motion for reconsideration.

The current boarding fare at the LRT-1, which was approved in 2023, is P13.29 with a P1.21 increment per kilometer distance.

LRMC President and Chief Executive Officer Enrico R. Benipayo said that while LRMC welcomes the fare adjustment approved in 2023, this is well below the notional fare and has resulted in a fare deficit amount of P2.17 billion.

To justify the fare hike petition, LRMC said in its petition that it has made substantial operational improvements and system upgrades “at a cost of P24 billion” since it took over the LRT-1 in September 2015.

“We committed to perform certain obligations in the concession agreement. The biggest of which really is to make investments to improve the system, obviously to provide better service for the riding community. As we speak today, our total investment hovers around P45 billion,” Mr. Benipayo said.

In a statement, Akbayan Party-list Rep. Percival V. Cendaña urged the DoTr to reject the LRT-1 operator’s proposal for a fare hike, citing that it would only burden the working class and worsen the transportation experience of the public.

“LRMC’s timing couldn’t be more callous. They’re seeking fare hikes that could reach up to P12.50 per ride when 63% of Filipino families are already struggling to make ends meet,” former party-list congressman Ferdinand R. Gaite said in a statement.

Further, urban transport and mobility advocacy group AltMobility PH said mass transit like LRT-1 is vital to public transportation.

“We need our options, including mass transit like LRT-1, to be of good and reliable quality. We need more direct investments in quality public transport,” AltMobility PH said.

It added that operating and maintaining the rail line is capital intensive, “making LRMC’s petition to increase fares overall understandable.”

However, the group said that fare increases must be carefully examined.

“We need low-hanging and short-term solutions such as provisions for active mobility, fare subsidies for those in need, service contracting, and ensuring that public transport workers receive living wages,” said AltMobility PH.

LRMC is the joint venture of Ayala Corp., Metro Pacific Light Rail Corp., and Macquarie Infrastructure Holdings (Philippines) Pte. Ltd.

Metro Pacific Light Rail is a unit of Metro Pacific Investments Corp., which is one of three Philippine subsidiaries of Hong Kong’s First Pacific Co. Ltd., the others being PLDT Inc. and Philex Mining Corp. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., maintains interest in BusinessWorld through the Philippine Star Group, which it controls.

Megawide bags Cavite BRT contract

MEGAWIDE.COM.PH

MEGAWIDE Construction Corp. has secured the contract to construct and develop the P1.87-billion Cavite Bus Rapid Transit (BRT) project.

“Megawide Construction Corp. formally received the notice of award dated 26 December 2024 from the Office of the Provincial Governor of the Province of Cavite,” Megawide told the stock exchange on Thursday.

The P1.87-billion Cavite BRT is a joint venture between Megawide and property development company Maplecrest Group, Inc.

The award is still pending the joint venture proponents’ fulfillment of all necessary conditions and submission of required documentation, Megawide said.

The Cavite BRT System project covers the development, operation, and maintenance of a bus rapid transit and P2P (point-to-point) route with an alignment of 42 kilometers stretching through Imus, General Trias, Tanza, Kawit, Trece Martires, and its surrounding areas, while also providing a link to Metro Manila via the Parañaque Integrated Terminal Exchange (PITX), information from the Public-Private Partnership (PPP) Center’s website showed.

PPP Center said previously that the Cavite BRT System had a deadline of Dec. 23 last year for the project’s comparative challenge. The joint venture submitted its unsolicited proposal in April 2023.

The project is divided into two phases. The first phase of the project is expected to commence operations by 2026; the project’s Phase 1 includes the construction of terminals 1 and 2, construction and operations, and maintenance of 27 stations, BRT alignment, and P2P alignment.

The second phase of the project involves the BRT alignment of 13.79 kilometers from station 27 to the New Capitol Building of Cavite and the P2P alignment of over 34 kilometers from PITX to Terminal 3.

In 2015, Megawide’s unit MWM Terminals, Inc. bagged the 35-year contract to construct and operate the PITX, which is an integrated and multimodal terminal.

Megawide’s other unsolicited proposal, the P1.19-billion Baguio City Integrated Terminal, is set to undergo a Swiss challenge this year.

At the local bourse on Thursday, shares in the company closed 2.08% higher at P2.45 apiece. — Ashley Erika O. Jose

Movie musical tackles Filipino faith amid struggles

CAST OF Nasaan si Hesus? (L-R): Rachel Gabreza, Jeffrey Hidalgo, Geneva Cruz, Rachel Alejandro, Lourdes “Bing” Pimentel, Dennis Marasigan, Marissa Sanchez, and TJ Ramos.

THIS YEAR, Nasaan si Hesus? (Where is Jesus?), a musical first staged in the mid-2000s, is given new life as a movie just in time for election season.

Produced by Balin Remjus, Inc. and Great Media Productions, Inc., the original play was written by the late Nestor U. Torre, with music and lyrics by Lourdes “Bing” Pimentel.

The story follows members of a Filipino community who have their faith and spirituality put to the test amid modern pressures and temptations. “[It] works well as a musical, be it onstage or onscreen,” said Mrs. Pimentel at a press conference in San Juan City.

Mrs. Pimentel, who switched her composer hat for that of a producer for the film, added that she wrote the songs for the play after the execution of convicted rapist Leo Echegaray in 1999, a time when “everybody was clamoring for the death penalty.”

“[Nestor and I created] a very simple story — the life of a family in this village, a young lady who finds she is pregnant, a man cheating on his wife, and vote buying in their community. These are realities that we all experience in life,” she explained.

“Because the teachings about faith are in song, it’s not a hard sell. That’s the power of music. If you look at the movie and watch the movie and begin to ask yourself kung nasaan ba si Hesus at kung anong klaseng Kristiyano ako (where is Jesus and what kind of Christian am I?), the movie is already successful.”

The ensemble cast is composed of singers and actors from stage, recording, and screen. Rachel Alejandro as the caring housewife Brenda, Jeffrey Hidalgo as the philandering husband Roger, and Rachel Gabreza as the pregnant daughter Cindy, make up the family at the center of the story.

They are joined by Geneva Cruz as the generous nun Sister Remedios, Janno Gibbs as a priest, and Marissa Sanchez as the selfish store owner Mrs. Varona, among many others.

Dennis Marasigan is the writer and director tasked with adapting the play for film. “It was in 2018 when we first started talking about this project. Before we could finish the script, the pandemic hit,” he told the press.

Once pandemic restrictions were lifted, they returned to the script and decided to make it more contemporary.

“Talagang nangyayari itong kwento. May eksena rin tungkol sa pandemic. Kaya ang kwento ay tungkol sa kasalukuyang panahon. (It’s a story that we see in real life. There are even scenes about the pandemic, so it’s really a current story),” Mr. Marasigan said.

RESONATING WITH FILIPINOS
Back in the 2000s, the play was presented over 80 times all over the Philippines. It was endorsed by the Catholic Bishops Conference of the Philippines (CBCP).

“When someone asked me if this musical could be staged again today, given the chaos happening in the country recently, I took it as a sign from God that it was time to bring it back,” Mrs. Pimentel said.

She said that there will be more songs in the film — “17 songs and counting,” according to musical director TJ Ramos.

Mr. Ramos told BusinessWorld that bringing the original music to the present day is a big challenge. “We are currently doing the music arrangement and edits before filming starts this month,” he said.

Like Mrs. Pimentel, he expressed the need to reach “as many Filipinos as possible,” with a newer sound able to resonate with the Gen Zs of the TikTok era.

Singer-actress Rachel Alejandro recalled how she was drawn to the script. “It’s very relevant. What left an impact on me reading it is, we should think about our effect on others, to be good Christians. The film is a mirror for us to see ourselves in,” she said.

The interweaving lives of the characters are meant to present a microcosm of the Philippines, according to Mr. Marasigan. “Inaasahan natin na maipalabas itong pelikula bago magkaroon ng eleksyon, sa pagkakataon din ng Lenten season, para matulungan tayong mag-isip tungkol sa kalagayan ng Pilipinas (We hope to show the film before the elections, also in time for the Lenten season, to help us reflect on the current state of the Philippines.),” he said. — Brontë H. Lacsamana

SEC approves DragonFi as PERA administrator

ALL COVERED companies should present fee-related information in a two-year comparative format as a supplement to their annual financial statements. — BW FILE PHOTO

THE SECURITIES and Exchange Commission (SEC) has approved the application of DragonFi Securities, Inc. as a personal equity and retirement accounts (PERA) administrator, expanding the number of accredited entities.

The application was approved during the commission en banc meeting on Dec. 18, subject to compliance with remaining requirements, the SEC said in an e-mailed statement on Thursday.

DragonFi Securities is the stock brokerage arm of Sia and Caktiong-led property developer DoubleDragon Corp.

It is the first PERA administrator application approved by the SEC following the issuance of SEC Memorandum Circular (MC) No. 14 on Sept. 19 last year, which contained guidelines on the accreditation of PERA market participants.

“This approval is a significant step towards empowering Filipinos to secure their financial future while easing fiscal pressures on the government in the long run,” SEC Chairperson Emilio B. Aquino said.

“We issued MC 14 last September, recognizing the potential of our pension system to broaden public participation in corporate value creation and strengthen the capital market,” he added.

PERA refers to a voluntary retirement saving program on top of existing retirement benefits from the Social Security System, Government Service Insurance System, and employer-sponsored plans.

Created under Republic Act No. 9505 or the PERA Act, the program offers tax benefits not provided in other retirement investment products, urging more Filipinos to save.

The SEC guidelines provide that a PERA administrator should keep at least P100 million in net worth at all times; adopt and comply with a corporate governance manual; and have an organizational plan for personnel involved in PERA administration functions.

A PERA administrator should also have adequate systems and technological capabilities, technical expertise, and personnel to administer all PERA investment products.

“The PERA administrator must also have sufficient personnel who have undergone the requisite training prescribed or approved by the commission to educate PERA contributors on the nature of a PERA and the requirements, risks, and benefits of the investment product, among others,” the SEC said. — Revin Mikhael D. Ochave

Sandiganbayan junks quo warranto petition vs PCGG’s seat in 1994-1995 SMC board

PHILSTAR FILE PHOTO

THE anti-graft court has dismissed a petition challenging the authority of government representatives to vote and sit on San Miguel Corp.’s (SMC) board for the year 1994-1995 under the shares acquired by an alleged Marcos Sr. crony, citing the case as no longer relevant.

In an eight-page resolution, the Sandiganbayan Second Division dismissed the quo warranto petition filed by Eduardo M. Cojuangco, Jr. and his cohorts, challenging the Presidential Commission on Good Governance (PCGG) authority over the sequestered shares connected with the coco levy fund scam.

The petition sought to remove PCGG representatives from SMC’s board, to be replaced by Mr. Cojuangco and his other petitioners.

They argued that PCGG had no “legal right to vote the sequestered shares.”

The anti-graft court stated that the asset recovery agency has the right over the sequestered shares, citing jurisprudence.

“As for the removal of the respondents as members of the board, and their replacement with the petitioners, the time for granting such relief has long passed,” penned by Associate Justice Geraldine Faith A. Econg in the Dec. 23, 2024 resolution.

“This prayer of the petitioners had become impossible as early as April 14, 1995, when the subsequent SMC annual stockholders’ meeting was held and the succeeding board of directors was elected,” she added.

SMC did not immediately respond to a Viber message seeking comment. — Kenneth Christiane L. Basilio

Stuff to Do (01/10/25)

Biggest annual dog event returns

ASIA’S BIGGEST annual dog event has returned to the Smart Araneta Coliseum in Quezon City. Ongoing until Jan. 13, the Philippine Circuit 2025 presents some of the cutest and most talented dogs in the world. It will also serve as the debut of the first-ever National Grooming Team Competition. The event aims to elevate the Philippines’ status in the global grooming arena. Alongside this competition, 17 world-class judges will oversee the All-Breed Championship Dog Shows, featuring 96 breeds and 7,560 entries across 12 shows. Visit Philippines Circuit Dog Shows for more details and updates.

SEVENTEEN fan bazaar at Gateway Mall 2

ON Jan. 11, a week before SEVENTEEN’s concert in Manila, Big Mama Productions and Carat Land Philippines are mounting Countdown Right Here: A Pre-Concert Celebration. Fans of the K-pop group will be able to mingle at the bazaar and purchase fan merchandise at affordable prices. There will also be games with lots of prizes. The celebration takes place at Quantum Skyview, Upper Ground B, Gateway Mall 2 in Quezon City’s Araneta City starting at 4 p.m.

Anne Labesores mounts first solo show in Gateway

VISUAL artist Anne Labesores is putting up her first solo exhibition, La Geometrica, from Jan. 11 to 17 at the Gateway Gallery. Her creations aim to “speak volumes about the fragments of daily life,” using a geometric painting style. The gallery is located on the fifth level of Gateway Mall Tower, Gateway Mall, Araneta City in Quezon City.

CAST PH’s staged reading fest every Sunday

TO KICK OFF 2025, CAST PH is bringing back its annual staged reading festival, this year with the theme of “Theoria Omnium” (Theory of Everything). The four unnamed plays — the name of the play is announced just before the performance — for this edition will be scientific dramas, each to be shown on a Sunday at 3 and 8 p.m., starting Jan. 12. Play No. 1 is directed by Jaime Del Mundo; Play No. 2 by Sarah Facuri; Play No. 3 by Nelsito Gomez; and Play No. 4 by Topper Fabregas. Among the performers this season are Cathy Azanza-Dy, Dean Daniel Rosen, Jenny Jamora, Ron Capinding, Roselyn Perez, and Dolly de Leon. All performances will be at the WHYNoT Culture Hub at Karrivin Studios, 2316 Chino Roces Ave., Makati.

K-pop concert in Ayala Cinemas

THE FIRST-EVER immersive concert film of popular K-pop group Tomorrow X Together (TXT), titled Tomorrow X Together: Hyperfocus, will have a limited seven-day run — in 4DX — exclusively at Ayala Malls Cinemas. TXT’s concert film opens on Jan. 15 in the following Ayala Malls Cinemas with 4DX technology: Greenbelt, UP Town Center, and Bonifacio High Street, and will be available on the big screen until Jan. 21.  The concert film will transport fans to the concert featuring performances by the group’s members, Soobin, Yeonjun, Beomgyu, Taehyun and Hueningkai. With the widescreen and realistic 4DX effects, such as seats moving to the beat, and wind and water effects when applicable, audiences will feel like they’re truly in the front row of an exclusive VIP concert. Tickets can be booked now through www.sureseats.com or any of the participating cinemas. Ticket buyers will get a free TXT photocard.

The Walking Dead: The Ones Who Live now on Disney+

THE miniseries which serves as a new chapter in the popular The Walking Dead saga blends hope, terror, and an epic love story. Titled The Ones Who Live, it follows Rick Grimes (Andrew Lincoln) and Michonne (Danai Gurira), forever changed by a world in ruins. They find themselves separated by distance and an unrelenting force that tests their resolve. It is now available on Disney+.

Celeste Legaspi, Odette Quesada tribute concert in BGC

THE Pinoy Playlist Music Festival 2024 Ryan Cayabyab Awards will pay tribute to two of the most iconic voices in Filipino music: Celeste Legaspi and Odette Quesada. The concert is set for Jan. 16, 8 p.m., at The Globe Auditorium, Maybank Performing Arts Theater, BGC Arts Center, Taguig. In celebration of the two icons’ timeless legacy, there will be performances by Bituin Escalante, Arman Ferrer, Rachelle Gerodias, Zia Quizon, Aicelle Santos, Mike Shimamoto, Mitch Valdes, and other surprise guests. The celebration night is free and open to the public.

PPO concert features violinist Aylen Pritchin

The Philippine Philharmonic Orchestra (PPO) kickstarts the new year with the fourth installment of its 40th concert season, dubbed Europa, on Jan. 17, 7:30 p.m., at the Samsung Performing Arts Theater in Circuit, Makati City. The concert features world-class violinist Aylen Pritchin. Under the baton of PPO music director and principal conductor Grzegorz Nowak, the concert will open with Kodály’s Dances of Galánta. Mr. Pritchin will also perform Tchaikovsky’s Violin Concerto No. 1. The concert concludes with Dvořák’s Symphony No. 8. The PPO’s concert season runs until April. Tickets for PPO concerts range in price from P1,500 to P3,000, and are available at TicketWorld.

Jed Madela performs at City of Dream’s Centerplay

International singing champion and power belter Jed Madela is this year’s first featured artist at City of Dreams Manila’s Original Pilipino Music (OPM) Concert Series at CenterPlay, the contemporary entertainment lounge situated at the focal point of the resort’s main gaming floor. The singer-songwriter, actor, and singing competition judge and mentor is set to hold the one-night-only concert on Jan. 16, 9 p.m. The upcoming concert also features alternating performances of DJs, and bands including Higher Ground and Part 3 from 7 p.m. to 2 a.m. Guests can reserve a seat or a table with consumables starting at P3,000, comprising of bar snacks, burgers, fries, and beverages. VIP couch seats for a party of eight for P24,000 and VIP Small Tables for a group of four for P12,000 are also available, inclusive of consumables. For reservations and information on upcoming performances at CenterPlay, call 8800-8080 or e-mail guestservices@cod-manila.com, or visit www.cityofdreamsmanila.com.

Partisan politics undermine national security

PHILIPPINE STAR/NOEL B. PABALATE

EXECUTIVE ORDER NO. 81 series of 2024 issued by President Ferdinand “Bongbong” Marcos, Jr. is causing a stir because it removed the Vice-President (VP) and past presidents from the National Security Council (NSC). According to Executive Secretary Lucas Bersamin, “at the moment, the VP is not considered relevant to the responsibilities of membership in the NSC.”

This view seems to ignore presidential succession. The VP must be ready to assume the presidency at any given moment. This readiness is most crucial with regards to national security affairs. Therefore, it is only logical for the VP to be part of the NSC. Obviously, the scenario where the President and the VP are at opposite ends of politics is always possible. Still, national security is probably the single issue where they are expected to rise above partisanship.

While reorganizing the NSC is certainly part of executive power, public interest demands that the President exercise this authority with only the nation’s security in mind. Therefore, revamping the NSC must not be motivated by political considerations. Indeed, the only acceptable reason to exclude anyone from the NSC is if that person is determined to be a national security threat. Pertinently, a case can be made that the current VP, Sara Duterte, already fits this frame.

VP Duterte’s public threats against the life of President Marcos and his family can certainly be treated as a verified threat to the nation’s security. Some pundits would even consider her silence over Chinese aggression in the West Philippine Sea as enough reason not to trust her when it comes to defense and security matters. But arguably, it is her family’s overt attempts to undermine the loyalty of the military to the commander-in-chief that makes her presence in the NSC so untenable.

But neither President Marcos nor any of his official surrogates have categorically pronounced VP Duterte as a national security threat. For this reason, it is hard to dismiss the view that this move merely “reflects the intensifying power struggle between the country’s dominant political dynasties ahead of the midterm elections.” The administration’s caginess in this regard suggests that the removal of the VP from the NSC could really be politically motivated.

Admittedly, it is extremely challenging to keep politicking out of the national security discourse. Even critics of the administration are guilty of politicizing defense and security concerns. In some instances, they do it recklessly as well. Like suggesting that the NSC revamp is a sign of a rift within the security sector. To express such a ludicrous theory is borderline treasonous. It gets the proponent clicks and likes, but it only worsens the politicization of national security.

Of course, the brouhaha caused by EO No. 81 demonstrates once again the centrality of the President’s role in national security. According to the Supreme Court in Saguisag vs Executive Secretary (G.R. No. 212426, Jan. 12, 2016):

“The duty to protect the State and its people must be carried out earnestly and effectively throughout the whole territory of the Philippines in accordance with the constitutional provision on national territory. Hence, the President of the Philippines, as the sole repository of executive power, is the guardian of the Philippine archipelago, including all the islands and waters embraced therein and all other territories over which it has sovereignty or jurisdiction.”

The President being the “sole repository of executive power” and the “guardian of the Philippine archipelago” very clearly means that the buck stops with him. The President makes the final decision on national security matters. Therefore, it is vital that he gets timely and accurate information as well as sound counsel from his Cabinet and national security experts. Simply put, the President cannot perform this constitutional duty alone. Hence, the creation of the NSC as an advisory body.

The Cabinet provides the President with the nitty-gritty details that are necessary for policy-formation. But the NSC is the institution where multiple defense and security concerns are ventilated to help the President see the bigger picture. Opposing views are not necessarily wrong or counterproductive. All angles of an issue need to be considered. Such robustness in deliberation can only happen if the NSC is not filled with Yes-men and sycophants or blood relations. Independent minded public officials, indeed, even contrarian voices, will ultimately be beneficial to the President.

However, the President must ensure national security policy decisions and actions do not fall victim to partisan politics. There are many ways which this can be accomplished. And each President will proceed with this effort in his or her own way. But it starts with an unwavering commitment to keep national security a partisanship-free zone. This is easier said than done and most presidents have failed to do it. The removal of the VP from the NSC is the most recent example of this failure.

Finally, it is quite disturbing to hear public officials, journalists, and political commentators rationalize that EO No. 81 as merely an exercise of presidential prerogative as if executive power is akin to monarchical absolutism. In light of the impeachment drama in South Korea, this passage from the decision of the Constitutional Court of Korea in the Impeachment of the President Roh Moo-hyun is offered as a counterpoint, to wit:

“However, the President is not an institution that implements the policies of the ruling party, but instead, the President is the constitutional institution that is obligated to serve and realize the public interest as the head of the executive branch. The President is not the President merely for part of the population or a certain particular political faction that supported him or her at the past election, but he or she is the President of the entire community organized as the state and is the President for the entire constituents. The President is obligated to unify the social community by serving the entire population beyond that segment of the population supporting him or her.”

South Korea has influenced the Philippines in so many ways. This lesson on how Filipinos should relate to the President would indeed be a welcome addition.

 

Michael Henry Yusingco is a law lecturer, constitutionalist, and a senior research fellow at the Ateneo Policy Center.

Wicked, A Complete Unknown lead Hollywood’s SAG award nominees

LOS ANGELES — Box office smash Wicked, the musical prequel to The Wizard of Oz, topped the list of film nominees unveiled on Wednesday for Hollywood’s Screen Actors Guild (SAG) Awards, a key indicator of support for movies heading into the Academy Awards.

Wicked earned five nominations, ahead of four for Bob Dylan biopic A Complete Unknown.

Both films will compete for the SAG honor of best movie cast. Their competitors are Golden Globe winner Emilia Pérez, papal selection drama Conclave, and Anora, the story of a sex worker who marries the son of a Russian oligarch.

The SAG Awards are closely watched because they are selected by members of the Screen Actors Guild – American Federation of Television and Radio Artists actors union and actors form the largest group of voters for the Oscars, the film industry’s top prizes that will be bestowed in March.

Nominated SAG actors include Wicked stars Ariana Grande, Cynthia Erivo, and Jonathan Bailey, Timothée Chalamet for his portrayal of Dylan and Karla Sofia Gascon, who stars as a Mexican drug lord who transitions to a woman in Emilia Pérez.

Demi Moore, who just won a Golden Globe for her performance as a fading actress in The Substance, also was nominated, as was Pamela Anderson for The Last Showgirl.

The Brutalist, winner of the Golden Globe for best movie drama on Sunday, was left out of SAG’s cast category. Star Adrien Brody, who plays a Holocaust survivor and architect chasing the American dream, was nominated for best actor.

Organizers of the SAG Awards canceled a planned live announcement of the SAG nominees because of wildfires in Los Angeles. Nominations were announced online instead.

In SAG’s TV categories, historical epic Shogun piled up five nominations including one for best TV drama cast. It will compete with Bridgerton, The Day of the Jackal, The Diplomat, and Slow Horses.

Winners of the SAG Awards will be announced on Feb. 23 at a ceremony that will stream live on Netflix. — Reuters

The Asian Dream is waking up to reality

FREEPIK

HOW QUICKLY is Asia’s middle class growing? Not as fast as it needs to keep pace with aspirations. Policymakers need to focus on boosting livelihoods — but also on improving the quality of lives — for citizens to achieve the “Asian Dream.” Until that happens, it will be more myth than reality.

There is no concrete definition of what such a dream with Asian characteristics means, but inspiration could come from the American Dream, a term coined by writer James Truslow Adams in 1931, when he wrote that it “is that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement.”

Asia is nowhere near those lofty ambitions yet. Fifty years ago, most of the region was wretchedly poor, agrarian, and misruled. The improvements in most countries have since been breathtaking, as industrialization, education, and better governance led to higher quality of life and living standards.

The last decade has been particularly strong — between 2015 and 2021, the region accounted for 57% of global gross domestic product (GDP) growth, and in 2021 contributed almost half of the world’s GDP (at purchasing power parity), more than any other region. But momentum is now stagnating.

Indonesia, an emerging economy with more than 270 million people, is the canary in the coal mine. Recent data from the Central Bureau of Statistics showed that the number of people classified as middle class declined by close to 9.5 million in the past five years.  The pandemic was cited as mostly responsible, but Southeast Asia’s largest economy wasn’t alone. Then-President Joko Widodo reflected: “This issue exists in almost all countries.”

Those may be the words of a leader trying to defend his legacy, but he wasn’t entirely wrong. China is seeing an erosion in household wealth because of a collapse in real estate prices. Middle-class families are being forced to rethink their money priorities, with some pulling away from investing, or selling assets to free up liquidity. India paints a similarly worrying picture. Growth is slowing, urban salaries — particularly in the largest cities — are contracting, and spending is declining.

The middle class often plays an important role in political and economic development, as a 2021 report from the OECD Development Centre notes. Wealthier societies tend to push for higher democratic participation and less corruption, leading to better governance. Good policies depend on the support of public opinion, and are likely to be stronger among the large middle classes that are typical of stable democracies.

Still, there’s evidence to suggest that most Asians are feeling confident about their prospects, despite the slowdown. A study of over 12,000 people from across 12 markets in Asia, conducted by the McCann Worldgroup, an advertising agency network, showed that two-thirds of those surveyed believed they did not have to leave Asia for a better life, indicating that they think their aspirations will eventually be met at home.

Shilpa Sinha, McCann’s APAC chief strategy officer, told me: “What surprised me was how tied these people feel to the idea that their futures belong in the region, with many saying that they are more hopeful about their futures in Asia rather than in places like the West.”

For Asians to continue to feel that optimistic about their prospects, governments have their work cut out. Increasing the tax base in countries like Indonesia could help add much-needed revenue to education and healthcare budgets, both priorities. In China, policymakers are attempting to address the malaise through bouts of stimulus, but it may be too little, too late to shift household moods toward spending.

There’s a lot at stake. Oxford Economics predicts that emerging-market middle classes will double in the next decade — expanding from 354 million households in 2024 to 687 million by 2034. Even if China no longer posts the world’s fastest rate of middle-class growth, it will remain the biggest consumer market. By 2029, two in every three middle-class consumers are expected to be from Asia. The biggest increases will come from China, India, Indonesia, the Philippines, and Vietnam.

All of this requires effective government policies to attract increasingly discerning foreign investment, as well as to harness the potential of the existing middle class. Asia’s growth era may be showing some cracks, but the Dream still has plenty of wind behind it. The wake-up call may be in realizing, as citizens in mature economies have discovered, that while reaching the middle class is one thing, it can be more challenging to stay there.

BLOOMBERG OPINION

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