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Megawide to get P3.5-B cash, CREC shares in settlement of advances

MEGAWIDE.COM.PH

MEGAWIDE CONSTRUCTION CORP. (Megawide) has signed agreements to recover P9.4 billion in outstanding advances from its parent Citicore Holdings Investment, Inc. (CHII) and sister company Citicore Power Inc. (CPI), with P3.5 billion to be settled in cash for debt repayment and the balance through a transfer of Citicore Renewable Energy Corp. (CREC) shares.

In a stock exchange disclosure on Thursday, Megawide said the remaining P5.9 billion will be covered through the assignment of a 13% stake in CREC.

“The cash inflow will be used directly to pay down a portion of our outstanding debt, while the ownership of CREC shares will offer immediate earnings accretion and serve as currency for future value realization,” Megawide Chairman and Chief Executive Officer Edgar Saavedra said.

Of the total advances, CHII accounted for P4.69 billion, while CPI accounted for P4.73 billion, inclusive of principal and interest.

The share transfer involves about 1.47 billion CREC shares, equivalent to a 13% stake, based on the initial valuation methodology using the 90-day volume-weighted average price of CREC shares as of the last trading day in August.

The final share price and number of shares will be determined by both parties, subject to validation by external independent parties, regulatory approvals, and reasonable market movements.

“From the early capital we infused in the platform, it has already produced two publicly listed entities, currently having a combined market capitalization of approximately P37 billion — attributable to our respective shares in both companies — and with very strong growth prospects,” Mr. Saavedra said.

The company said it found it appropriate to close out the advances and focus on its growth agenda, particularly in construction, real estate, and infrastructure.

“To complement this financial management program, we are finalizing several initiatives and negotiating critical projects that will provide us with sustainable income streams in the years ahead, that will further drive shareholder value,” Mr. Saavedra said.

Megawide’s attributable net income fell by 14% in the second quarter to P220.79 million due to lower revenues.

At the local bourse on Thursday, Megawide shares rose by 16.5% or 34 centavos to close at P2.40 apiece. — Beatriz Marie D. Cruz

Pangilinan: MPIC acquisition in Wendy’s, Conti’s ‘not a very big amount’

CONTIS.PH/STORES

By Ashley Erika O. Jose, Reporter

METRO PACIFIC Investments Corp. (MPIC) has acquired a 15% stake in Eight8Ate Holdings, Inc., the operator of Conti’s Bakeshop and Restaurant and Wendy’s Philippines, in a move analysts said would support MPIC’s strategy to vertically integrate its agribusiness.

“[It’s] not a very big amount,” MPIC Chairman, President and Chief Executive Officer Manuel V. Pangilinan told reporters on Thursday, describing the value of the transaction.

Asked how soon the deal could contribute to MPIC’s revenue, Mr. Pangilinan said the company only took a minority stake in Eight8Ate Holdings.

Established in 2018, Eight8Ate Holdings currently manages and operates brands such as Conti’s, a premium casual dining restaurant, and Wendy’s Philippines.

“We are only a minority. I know that Conti’s is making money already. I think Wendy’s will soon make money,” Mr. Pangilinan said.

“It will help the company be more vertically integrated. This is because they have the farms, then the food processor, manufacturer, then the restaurants. Vertical integration will help boost profitability,” COL Financial Group, Inc. Chief Equity Strategist April Lynn Lee-Tan said in a Viber message.

For First Metro Investment Corp. Head of Research Cristina S. Ulang, the investment will help expand the holding company’s dairy and other food-based products value-added chain.

MPIC, through its agriculture arm Metro Pacific Agro Ventures, Inc. (MPAV), said it is pursuing a strategy to create a vertically integrated agribusiness portfolio.

MPIC is one of the three key Philippine units of Hong Kong-based First Pacific Co. Ltd., along with Philex Mining Corp. and PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., holds a majority stake in BusinessWorld through the Philippine Star Group, which it controls.

RCR issues new shares to Robinsons Land in P30.7-B property deal

ROBINSONSOFFICES.COM

RL COMMERCIAL REIT, INC. (RCR) has issued 3.83 billion shares to Robinsons Land Corp. (RLC) following the Securities and Exchange Commission’s (SEC) approval of their P30.67-billion property-for-share swap.

“Further to the disclosure dated Sept. 5, 2025, please be advised that 3,834,357,500 shares of RL Commercial REIT, Inc. were issued today in exchange for the following assets from Robinsons Land Corp. pursuant to the deed of assignment dated Aug. 13, 2025,” RCR told the stock exchange on Thursday.

Last month, RCR completed its fourth property-for-share swap with RLC through a deed of assignment for the infusion of nine mall assets.

The assets were exchanged for 3.83 billion primary common shares of RCR priced at P8 apiece.

The malls include Robinsons Dasmariñas in Cavite, Robinsons Starmills in Pampanga, Robinsons General Trias in Cavite, Robinsons Cybergate Cebu, Robinsons Tacloban in Leyte, Robinsons Malolos in Bulacan, Robinsons Santiago in Isabela, Robinsons Magnolia in Quezon City, and Robinsons Tuguegarao in Cagayan.

These properties have a combined gross leasable area (GLA) of 324,107.75 square meters (sq.m.).

The approval and issuance of new shares increased RCR’s issued and outstanding shares to 19.55 billion.

Public ownership is at 34.22% of the enlarged total, above the one-third minimum required under the Real Estate Investment Trust Implementing Rules and Regulations.

The infusion is expected to boost RCR’s portfolio, which currently consists of 828,000 sq.m. of GLA, including 12 mall assets with 289,000 sq.m. of GLA and 17 office assets with 539,000 sq.m. of GLA.

On Thursday, RLC shares slipped by 0.26% or four centavos to P15.52 apiece, while RCR shares fell by 0.24% or two centavos to P8.20 each. — Beatriz Marie D. Cruz

Jack Daniel’s promotes 20 indie artists with show series

JACK DANIEL’S Emerging Asia Brand Marketing Manager Gabriel Fajardo (center) with representatives of the indie production group partners set to mount live shows.

THIS YEAR, eight Filipino production groups will be celebrating the strength of Filipino indie music through a series of live events staged around Metro Manila.

It marks the second phase of Jack Daniel’s On Stage, a multi-year music program by the whiskey brand Jack Daniel’s which aims to shine a spotlight on Filipino indie artists and producers.

This year’s set of experiences is taking place under the theme “Road to Indiefest,” culminating in the Jack Daniel’s Indiefest in 2026.

“This is all about celebrating local indie artists and, of course, the communities around them. We’re here to give them more spaces, more opportunities, and more ways to reach new audiences,” Gabriel Fajardo, brand marketing manager for Jack Daniel’s Emerging Asia, said at the media launch on Sept. 9.

He added that the whiskey brand has been supporting music since 1866.

“Jack Daniel’s and our indie partners have shared values,” he said at the event in Makati City. “Authenticity, independence, and staying true to who you are.”

This year’s On Stage concept chose 20 indie artists from the 35 nominated by production group partners at last year’s Playlist LIVE. The pool aims to showcase “the distinct voices, creativity, and diversity of today’s Filipino indie music.”

The performers are: Alyson, Ang Bagong Luto Ni Enriquez, August Wahh, Cheeky Things, Dayaw, Fables, Halina, K+, Mi Mi, Minaw, Naïv, Nanay Mo, Novocrane, Peej, Pinkmen, Spacedog Spacecat, The Revisors, Ultraviolet, Uncle Bob’s Funky Seven Club, and Ysanygo.

Meanwhile, the production partners mounting the shows are Doc Def Productions, Funky Beat Entertainment, GNN, Locked Down Entertainment, Otelik Presents, SYQL Productions, The Flying Lugaw, and Red Ninja Productions.

THE PROGRAM
PROD NIGHTS, running from September 2025 to March 2026, will feature 23 sponsored shows from these partners, highlighting the 20 artists.

“With PROD NIGHTS, we really feel the trust from Jack Daniel’s. When we get corporate sponsors, it’s rare that they give us full creative freedom. But here, we are able to control the visuals, the lineup,” said Sofia Abrogar of SYQL Productions. “Our guests’ experience is all up to us, and we really appreciate that trust.”

For Elijah Pareno of The Flying Lugaw, every production involves “a unique curation.”

“On our end, we really highlight fringe acts, niche acts. Without the pressure to get a big headliner and with full creative freedom with building the lineup, we get to set the stage for smaller, community-based bands,” he said.

Another event is MIXTAPE, happening on Nov. 15 and Dec. 13, where the 20 indie artists will be paired up to perform reimagined full-set collaborations of each other’s songs.

Josh Villena of Otelik Presents said that the two events will showcase the various artists’ “creativity and spirit.”

“What will two artists from completely different genres bring to the table? More than that, it’s the sense of camaraderie that we’re all on different journeys but find ourselves in this shared path,” he said.

The final initiative, SOUNDCHECK, will feature three interactive voting events from January to March 2026, giving audiences a voice in shaping which artists advance. It includes SESSIONS, set within the same period, allowing the 20 acts to showcase their music live online via Jam 88.3.

These live shows sponsored by Jack Daniel’s are “a big help for artists,” according to Jigger Divina of Locked Down Entertainment.

“An artist will miss out if they don’t give the audience a chance to see them perform live. There’s a jaw-dropping number of releases each day now,” he explained. “It’s more important than ever to give them a live platform.”

For more information about Jack Daniel’s On Stage: Road to Indiefest, check out Jack Daniel’s Facebook page. — Brontë H. Lacsamana

Del Monte Pacific profit surges to $5.5M after US unit deconsolidation

Bugo cannery workers in Cagayan de Oro — DELMONTEPACIFIC.COM

DEL MONTE PACIFIC Ltd. (DELM) said its attributable net income for the first quarter of fiscal year 2026, ending in July, surged nearly 15 times to $5.5 million from $368,000 a year ago, as results stabilized after the deconsolidation of its US operations.

In a disclosure on Thursday, the Campos-led food and beverage producer said turnover rose by 12.9% to $203.72 million, while gross profit jumped 32.8% to $66.11 million.

“The Philippine market delivered $88.4 million in first-quarter sales, up 10.3% in peso terms and 14.9% in US dollar terms, driven by strong demand across beverages, packaged fruits and culinary essentials,” the company said.

Sales in the Philippines were lifted by health-focused beverage variants and new ready-to-drink products targeting younger consumers, it noted.

International sales increased by 6.4% to $97.2 million, supported by higher fresh pineapple demand in China and Japan, along with an improved product mix and pricing.

The premium S&W Deluxe Pineapple expanded its export share, while fresh-cut packs boosted S&W’s lead in North Asia to a 50% export share. In Japan, sales climbed 20% on stronger retail demand and new customers, the company added.

DELM deconsolidated its US subsidiary, Del Monte Foods Corp., effective May 1, after the unit filed for voluntary Chapter 11 bankruptcy in April due to heavy debt and shifting consumer preferences.

Del Monte Foods secured $912.5 million in financing to continue operations while selling most of its assets under court supervision. The restructuring was intended to support the unit’s recovery and enable it to continue serving customers.

At the local bourse on Thursday, DELM shares closed 21.3% higher at P4.16 apiece. — Alexandria Grace C. Magno

Cine Europa turns spotlight on Ukraine for 3rd year

Film festival presents 17 films

THE 28TH EDITION of Cine Europa is now underway, running until Sept. 17 in Metro Manila, Cebu, Bacolod, and Tacloban. Seventeen European films will be screened for free over the course of the festival.

This year, the festival films are being presented by Alliance Française de Manille, the Goethe Institut, Instituto Cervantes, the Philippine Italian Association, and various European Union (EU) member states.

“Over the years, Cine Europa has grown. It has become a significant platform for both Europeans and Filipinos to explore common norms, narratives, and cultural connections,” said Massimo Santoro, EU ambassador to the Philippines, at the opening night on Sept. 8.

“Last year, the festival welcomed over 6,000 audience members. We are hoping to welcome even more [this year],” he added.

The special “guest country” for the third year in a row is Ukraine, while France is the only country with two films in the lineup.

Mr. Santoro said that spotlighting Ukraine once more is “a gesture of solidarity with our neighbor.”

“Unfortunately, they continue to face enormous challenges. We will continue standing with Ukraine against Russian aggression,” he said. Ukraine’s entry this year is an investigative documentary about art theft by Kyiv Independent.

Cine Europa’s screening locations are Shangri-La Plaza mall in Metro Manila, the University of the Philippines in Cebu, the University of St. La Salle in Bacolod, and the Eastern Visayas State University in Tacloban.

Moviegoers can expect films of all genres, including selections for families and children, according to Mr. Santoro. “Cinema has the power not only to entertain, as we all know, but also to raise awareness and foster empathy, and these are qualities that we need more than ever today.”

For more information and screening schedules, visit Cine Europa’s social media pages. — Brontë H. Lacsamana

The festival films:

Czech Republic’s Sea of Hope

Denmark’s Fathers and Mothers

Finland’s Je’vida

France’s Un Metier Serieux and L’Amour et les Forêts

Germany’s Beyond the Blue Border

Greece’s Animal

Hungary’s Four Souls of Coyote

Ireland’s Tarrac

Italy’s Chiara Lubich

Netherlands’ Jippie No More

Poland’s The Peasants

Romania’s Three Kilometers to the End of the World

Slovenia’s Family Therapy

Spain’s Dragonkeeper: Guardiana de Dragones

Sweden’s Nova and Alice

Ukraine’s Curated Theft

PHL inflation may breach 4% in mid-2026 due to weather risks

Vendors continue to sell goods despite flooding at the Libertad Public Market in Pasay City, July 24, 2024. — PHILIPPINE STAR/RYAN BALDEMOR

WEATHER DISRUPTIONS and base effects may cause inflation to overshoot the Bangko Sentral ng Pilipinas’ (BSP) target range anew next year, an analyst said.

Philippine National Bank  economist Alvin Joseph A. Arogo said the consumer price index (CPI) could breach the upper end of the BSP’s 2-4% annual goal again in mid-2026 after falling well within the target for this year thus far.

“Headline inflation could slowly but steadily increase and breach the BSP’s 4.0% ceiling from April to July next year, in our view,” Mr. Arogo said in an e-mail. “Coupled with unfavorable base effects, key drivers are the seasonal weather disruptions as well as increases in wages and power rate adjustments.”

The last time the monthly CPI figure breached the BSP’s 2-4% target was in July 2024, when it was at 4.4%.

Headline inflation quickened to 1.5% in August from 0.9% in July, the government reported last week. This marked the sixth straight month that the CPI was below the BSP’s 2-4% target.

The August print brought the eight-month average to 1.7%.

Mr. Arogo said they expect inflation to average at 1.9% this year and 3.5% next year. These are higher than the BSP’s own forecasts of 1.7% for 2025 and 3.3% for 2026.

“We believe that the August print is an indicator that the disinflation cycle may have reached its bottom in July,” he said.

“The pressure to return to higher rice tariffs is gaining more momentum as sympathy for farmers builds up. The risk that worldwide trade flow disturbances could be inflationary also remains in the background.”

Meanwhile, Azril Rosli, economist at Maybank Investment Banking Group, said inflation could continue to pick up in the coming months before slowing anew.

“This may be due to the base effects that will continue to push headline inflation higher. Among other factors include the weather-related food price volatility which remains a key risk, particularly with ongoing monsoon season impacts, and the 10% surge in vegetable prices in August 2025 demonstrates how quickly weather events can affect food costs. Nonetheless, the moderating factors may include the record 17% year-on-year decline in rice prices… and overall economic demand remains relatively subdued as we expect inflation to average at 1.8% by yearend,” Mr. Rosli said.

He added that other upside risks to inflation are “intensified weather disruptions affecting agricultural production; global energy price volatility; potential supply chain disruptions and stronger-than-expected domestic demand recovery.”

CAUTIOUS STANCE
These emerging price risks could give the BSP a reason to take a prudent policy stance, Mr. Rosli said.

“The central bank will likely adopt a more cautious approach to its monetary policy rate adjustments, potentially slowing monetary policy easing to avoid persistent demand-driven price pressures and maintain stable inflation expectations while supporting continued economic growth,” Mr. Rosli said.

“We expect the BSP to focus primarily on underlying demand conditions and core inflation trends rather than temporary price volatility. The persistently moderate inflation environment continues to provide monetary policy flexibility for the central bank.”

The BSP last month lowered benchmark borrowing costs by 25 basis points (bps) for a third consecutive meeting to bring the policy rate to 5%.

It has now cut benchmark rates by a total of 150 bps since it began its easing cycle in August 2024.

BSP Governor Eli M. Remolona, Jr. earlier said they are seeing “more significant risks to the inflation outlook than the output outlook,” even as they expect inflation to be manageable.

He added that the current policy rate is now at a “sweet spot” for both inflation and output, but left the door open for one more cut within this year to support the economy if needed, which would likely mark the end of their current easing cycle.

The Monetary Board’s last two meetings this year are scheduled on Oct. 9 and Dec. 11.

Mr. Rosli said they expect another 25-bp cut before yearend if inflation stays benign.

“Nonetheless, the timing of the potential 25-bp reduction will be dependent on whether inflation remains below the BSP’s inflation target range corridor and economic data continue to show some weakness,” he said.

“Key decision factors include upcoming inflation readings, GDP (gross domestic product) growth, employment trends, global policy developments, and peso stability, with the BSP maintaining a data-dependent stance biased toward further easing if economic conditions warrant it.”

Meanwhile, Mr. Arogo said potentially faster inflation in the coming months could lead to a prolonged pause from the BSP.

“The terminal rate of 4.5% could be realized in the fourth quarter of 2026 once inflation has restabilized.” — K.K. Chan

MGen, KEPCO eye wind, storage projects in RE push

STOCK PHOTO | Image by Waldemar Brandt from Unsplash

MERALCO POWERGEN CORP. (MGen), the power generation arm of Manila Electric Co. (Meralco), and Korea Electric Power Corp. (KEPCO) are planning to expand their renewable energy (RE) partnership to help diversify the country’s energy portfolio.

“Looking ahead, KEPCO and MGen intend to expand their collaboration beyond solar into other renewable energy projects such as wind and ESS (energy storage system), further diversifying the Philippines’ energy portfolio,” the companies said in a statement on Thursday.

The expanded partnership builds on earlier collaborations, including the signing of a memorandum of understanding to jointly explore nuclear energy, renewable energy, smart grids, microgrids, ESS, electric vehicles, advanced metering infrastructure, smart substations, and distribution automation.

At the same time, MGen announced that its unit SP New Energy Corp. (SPNEC) will take over the operations of the 63.3-megawatt peak (MWp) solar farm in Calatagan, Batangas.

MGen signed a deed of accession and amendment with KEPCO to replace Solar Philippines Power Project Holdings Corp. (SPPHI) with SPNEC.

Through MGen Renewable Energy, Inc., MGen owns 53.7% of SPNEC after acquiring the stake from SPPHI. KEPCO holds a 38% share in SPPHI’s subsidiary Solar Philippines Calatagan Corp., which operates the solar farm.

“This agreement is a testament to the trust and cooperation that KEPCO and MGen have built over the years,” KEPCO Philippines Holdings, Inc. President and Chief Executive Officer Jeon Yongsu said. “Together, we are creating a stronger foundation to accelerate renewable energy development in the Philippines and set a benchmark for strategic energy partnerships across Asia.”

Under the agreement, the companies affirmed their commitment to strengthen their strategic partnership as joint shareholders in the solar farm.

“Our strengthened partnership with KEPCO underscores MGen’s commitment to advancing clean energy and supporting the country’s sustainability goals,” MGen and SPNEC President and Chief Executive Officer Emmanuel V. Rubio said.

“By working hand in hand, we aim to not only ensure the continued success of the Calatagan Solar Farm but also unlock new opportunities for innovation and growth in the Philippine energy sector,” he added.

At present, MGen has seven solar power plants in the Philippines across Bulacan, Nueva Ecija, Rizal, Batangas, and Tarlac.

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

Stuff to Do (09/12/25)

Watch fantasy and sci-fi films for free

THE 11th edition of Bakunawa Fest is coming to a close this weekend. The film festival showcases feature-length and short films from local and foreign creators with science fiction, fantasy, surreal, and experimental themes. On Sept. 12, the UP Film Institute Videotheque in Diliman, Quezon City, will screen Bakunawa’s last three programs, all for audiences 18 years old and above and free of charge. These are: the full-length Estonian film Chainsaws Were Singing at 10 a.m., and the short film programs “Tale as Old as Time” at 2 p.m. and “Permission to Leave” at 5 p.m., which include films from Europe, South America, and Asia. Interested parties may register here: https://forms.gle/zniUcwUUAjupdp2e6.

Enjoy the dance at Juan Tamad and Other Ballets

ALICE REYES Dance Philippines (ARDP) brings Juan Tamad and Other Ballets to the Hyundai Hall, Areté, Ateneo de Manila University, Quezon City, for one weekend, Sept. 12 to 14. The program presents four works that blend classic stories with modern ballet. The titular “Juan Tamad” is directed by Erl Sorilla with music by Toto Sorioso, following the adventures of Juan Tamad and his monkey friend, Matsing. Complementing it are three pieces from ARDP’s repertoire: “Nocturne,” “C’est La Cie,” and “Moon.” Inquiries can be sent through Viber (0967-153-6173) or e-mail (ardancephilippinesinc@gmail.com).

Celebrate Grandparents’ Day at Araneta City

THE various venues within Quezon City’s Araneta City are celebrating Grandparents’ Day from Sept. 12 to 14. Over at Ali Mall’s MacArthur Activity Area, GNB Collectibles will hold an exhibit, From the Vault, featuring a variety of vintage collectibles and Muhammad Ali memorabilia. The Gateway 2 Mall’s Quantum Skyview will be the venue of Araneta City Pet Pals, with pet goodies on sale, free giveaways, game booths, brand talks, and a mini retro-themed pet fashion show. On Sept. 13, the event will offer free microchipping and anti-rabies vaccination for cats and dogs in partnership with the QC Veterinary Department. At the Gateway Mall 1 Activity Area, there will be a painting workshop called “Bonding Tayo, Lolo at Lola!,” on Sept. 14, 1-5 p.m., sponsored by The Oil Paint Store. Farmer Plaza will host a free medical checkup at its Activity Area on Sept. 14, 1-5 p.m. Finally, the aRUNeta Run Club will host a Grandparents’ Day session on Sept. 14, 5-9 a.m. which includes Tai Chi and Qigong sessions. All participants will get a free cup of coffee.

Figure out the complexity of Para Kay B

BASED ON National Artist Ricky Lee’s bestselling novel of the same name, Para Kay B weaves together five interconnected love stories, as written by Eljay Castro Deldoc and directed by Yong Tapang, Jr. The production initially ran in March and returns to the Doreen Black Box Theater, Ateneo de Manila University, Quezon City, from Sept. 12 to 28. Returning cast members include Ava Santos, Liza Diño, Martha Comia, Sarah Garcia, Via Antonio, AJ Benoza, Esteban Mara, Jay Gonzaga, Aldo Vencilao, Divine Aucina, and Vincent Pajara. Joining the cast are Mario Magallona, Sarina Sasaki, Maria Alilia “Mosang” Bagio, Ingrid Joyce, Phi Palmos, Manok Nellas, Drew Espenocilla, and Air Paz. Tickets are available through Ticket2Me.

See why Pingkian: Isang Musikal was named Best Musical

ADJUDGED the Best Musical at the 2024 Aliw Awards, Tanghalang Pilipino’s Pingkian: Isang Musikal is being restaged, with performances kicking off on Sept. 12 and running until Oct. 12. The full-length musical follows the journey of Emilio Jacinto (played by Vic Robinson), a young revolutionary who navigates the complexities of leadership in the final years of the Philippine Revolution and the beginning of the Philippine-American War. It stars Vic Robinson as Emilio Jacinto/Pingkian. Also in the cast are Gab Pangilinan, Tex Ordoñez-De Leon, Kakki Teodoro, Paw Castillo, Almond Bolante, Joshua Cadeliña, Marco Viaña. Directed by Jenny Jamora and written by Juan Ekis with music by Ejay Yatco, it will run at the Tanghalang Ignacio Gimenez, CCP Complex, Pasay City. Tickets are available at TicketWorld and Ticket2Me.

Dine at The Great Indian Fiesta

IT IS A WEEKEND of Indian food, cultural shows, raffles, and shopping for decor and fashion at The Great Indian Fiesta along Paseo de Roxas in Makati, on Sept. 13, 11 a.m. to 10 p.m., and Sept. 14, 8 a.m. to 9 p.m. Entrance is free (raffle tickets are P100) and parking is available at the Ayala Triangle.

Visit Robinsons Department Store’s beauty fest

A WIDE RANGE of beauty products will be showcased at Robinsons Department Store’s BeYOUty Fest 2025. Running throughout September, it offers 50% off on select beauty items. Every Friday, the store’s FriDeals promo will give P200 off with a minimum spend of P1,500 at the Beauty Section. From Sept. 13 to 19 at Robinsons Manila Midtown Atrium, a BeYOUty Fest gathering will have activities, exclusive offers, and freebies from top beauty brands. From Sept. 22 to 30, a beauty caravan will also be going around various campuses and in Bridgetowne, Quezon City.

Shop for beauty products at Rustan’s Beauty Addict

RUSTAN’S is holding its annual beauty event, “Beauty Addict: Decoded,” on Sept. 13 at Rustan’s Makati. It will celebrate the latest in skincare, makeup, and all things beauty, in displays filled with neon circuits, holographic textures, and futuristic design elements. The showcase of products welcomes visitors who register at http://bit.ly/BeautyAddictEventDecoded.

Join the National Bookstore ‘treasure hunt’

NATIONAL BOOKSTORE recently launched a nationwide event called “The National Hunt” that turns book shopping into a treasure hunt for prizes. The event is led by the “National Book Squad,” a group of Gen Zs of PBB Celebrity Collab fame, including Mika Salamanca, Josh Ford, Kira Balinger, Esnyr Ranollo, Will Ashley, and Ralph de Leon. The squad will be hiding special books in National Book Store branches across the country, with clues for customers to find them and win prizes like Apple iPads, flight vouchers, and DJI Osmo 3s. The campaign runs until Oct. 10. Follow National Book Store on Facebook, Instagram, and TikTok for updates.

Go to the Manila International Book Fair

THE 2025 Manila International Book Fair (MIBF) is ongoing until Sept. 14 at the SMX Convention Center Manila, Pasay City. There are over 200 booths over two floors of the SMX, with both levels featuring a mix of booksellers. The second floor will also have booths filled with pens, crafting supplies, and essential school materials, among others. The major bookstores will have booths, as will a myriad of publishers, from academic to romance, technical to graphic novels. The book fair will host over 50 events for both the business side of publishing and for the consumer side. These range from book signings to product demonstrations, panel discussions with industry experts, art workshops, and even movie premieres. Check publishers’ social media pages for the final schedules of their events. One can also visit www.manilabookfair.com/events. For more information and updates, visit the Manila International Book Fair website www.manilabookfair.com and follow its official Facebook page www.facebook.com/ManilaBookFair.

Watch Korean spy thriller Tempest on Disney+

FOR A HIGH-STAKES cerebral adrenaline rush, tune in to Disney+ for the newest Korean thriller, Tempest, starring Gianna Jun, Gang Dongwon, and John Cho. The series is set to explore the murky world of espionage and political intrigue, directed by Kim Heewon, co-directed by Korea’s leading martial arts director Heo Myeonghaeng, and written by Chung Seokyung. It premieres on the platform on Sept. 10.

Listen to Damiano David’s collab with Tyla, Nile Rodgers

THE Italian singer-songwriter Damiano David has released his new single, “Talk to Me,” featuring collaborations with South African singer Tyla and American musician Nile Rodgers. The track blends David’s signature lyricism, Tyla’s distinctive vocal style, and Rodgers’ groove. It is out now on all digital music streaming platforms via Sony Music Italy / Arista.

Watch the Vatican City concert on Disney+

ON SEPT. 14, a cultural and spiritual event in Vatican City will stream live exclusively on Disney+. Co-directed by singers Pharrell Williams and Andrea Bocelli, it will be held in St. Peter’s Square to mark the closing of the third World Meeting on Human Fraternity and the celebration of the 2025 Jubilee Year. The concert features a huge lineup of performers, including Mr. Williams, Mr. Bocelli, the Voices of Fire Gospel Choir, Karol G, John Legend, Clipse, Teddy Swims, Jelly Roll, and Angélique Kidjo. There will also be an aerial drone and light show by Nova Sky Stories, featuring imagery inspired by the Sistine Chapel, and reflections from world leaders in culture, diplomacy, and sport.

Tune in to the new season of The Voice Kids

ON Sept. 14, the Philippines’ edition of The Voice Kids returns, featuring new coaches, via GMA Network. Hosted by Dingdong Dantes, the all-star coaching lineup welcomes back Julie Anne San Jose and Billy Crawford. Joining them this season are Zack Tabudlo and twins Miguel and Paolo Benjamin Guico of the band Ben & Ben. The premiere of the new season of The Voice Kids is on Sept. 14, 7 p.m., on GMA Network.

Admire rocking chair art at Megaworld Lifestyle Malls

IN CELEBRATION of Grandparents’ Day, Megaworld Lifestyle Malls, together with S.I.L.Y.A. (Sa Iyo Lola at Lolo, Yantok aming Alay) and the UST Atelier Alumni Association Inc., has launched Seated in Sentiment, a rocking chair exhibition at the Eastwood Mall Atrium. It showcases a collection of rocking chairs transformed into works of art. The participating artists are Fil Delacruz, Flor Baradi, Alice Bernados, Lemuel Blanco, Franklin Caña, Janos Delacruz, Maryrose Gisbert, Patrick Naval, Joey Ofludor, Nestor Perez Ong, Jo Rebustillo, Gean Sollestre, Vanessa Tria, and Melissa Villaseñor. The rocking chairs will eventually be distributed across multiple Megaworld Lifestyle Malls.

Watch Hearts on Ice, Mga Lihim ni Urduja on VIU

TWO of GMA Network’s TV programs, Hearts on Ice and Mga Lihim ni Urduja, will stream on Viu Philippines starting Sept. 15. The country’s first-ever figure skating drama, Hearts on Ice follows Ponggay (played by Ashley Ortega), a girl who aspires to fulfill her mother’s broken dreams of becoming a champion figure skater despite her leg impairment. Meanwhile, Mga Lihim ni Urduja is a drama set in the pre-colonial and modern worlds of the Philippines, and the priceless heritage jewelry that connects them. It stars Kylie Padilla, Gabbi Garcia, and Sanya Lopez. These shows will be available for free on Viu.

See the Downton Abbey finale

THE global phenomenon Downton Abbey will have a cinematic end following years of TV shows and films. Creator Julian Fellowes is back at the helm as the Crawley family and their staff navigate the 1930s with all its modernity, public scandal, and social disgrace. The ensemble cast returns to the big screen, including Hugh Bonneville, Laura Carmichael, Jim Carter, Michelle Dockery, and Paul Giamatti. Downton Abbey: The Grand Finale is on view exclusively in Ayala Malls Cinemas.

Go dancing at Ayala Malls with G-Force

THIS SEPTEMBER, Ayala Malls and dance authority G-Force are teaming up to bring mallgoers “The Dance District,” which turns everyday mall spaces into dance playgrounds. Dance lovers can come and groove with G-Force on: Sept. 16, 6 p.m., at the Amphitheatre of the UP Town Center, with K-Pop Random Play Like; Sept. 17, 6 p.m., at the Activity Center of Alabang Town Center with South Move Mania; Sept. 18, 6 p.m., at the Garden Ring of Ayala Malls Manila Bay with Fusion Fest; and on Sept. 19, 6 p.m., at The Deck at Circuit Lane at Ayala Malls Circuit: with Mixed Synergy. Beyond the free G-Force dance sessions, mallgoers are invited to join The Dance District Challenge. They can share their best dance moments from The Dance District on TikTok and Instagram using the official sticker template and dedicated hashtag #ThatFeelingWhenTheMallIsYourDanceFloor for a chance to get surprise treats. The Dance District will culminate in a G-Force Groove Gala at the Courtyard, Ayala Triangle Gardens, on Oct. 5. For more information, visit www.ayalamalls.com or follow Ayala Malls on social media.

View great art and have tea at The Pen

THE Peninsula Manila has unveiled large-scale artworks by National Artist Federico Aguilar Alcuaz. Curated by Ricky Francisco of Fundacion Sansó, the latest Art in Resonance program features three never-before seen abstract Art Protis tapestries by the renowned late national artist. The large-scale works are now on display at The Lobby until Sept. 30. This installation is the latest iteration of Art in Resonance, The Peninsula Hotels’ global contemporary arts program dedicated to supporting exceptional local and international artists, while creating deeply immersive art experiences for guests and visitors. In tandem with the exhibition, The Pen is offering guests a special Federico Aguilar Alcuaz Art in Resonance Afternoon Tea menu inspired by the artist’s works. It is available at The Lobby throughout the duration of the exhibit. The Art in Resonance Afternoon Tea is available at P3,290 per set and P5,290 with a flute of Champagne (exclusive of taxes). For inquiries about the afternoon tea, call 8887-2888, extension 6694 for restaurant reservations, e-mail diningpmn@peninsula.com, or visit peninsula.com.

Watch Dear Evan Hansen at Solaire

GMG Productions presents the Manila run of the UK touring production of Tony Award-winning musical Dear Evan Hansen at The Theatre at Solaire in Parañaque until Oct. 5. It tells the story of Evan, an anxious high school student longing for a sense of belonging, and features music by Benj Pasek and Justin Paul and a book by Steven Levenson. It stars Ellis Kirk in the titular role. Tickets are available through TicketWorld.

Catch PETA’s Walang Aray

TWO YEARS after its debut, the original Filipino musical Walang Aray is back at the PETA Theater Center, running until Oct. 12. It is centered on the love story between Julia and Tenyong, set during the Philippine revolution of 1896. Many of the award-winning lead cast from 2023 are returning: Shaira Opsimar and Marynor Madamesila who alternate in the role of Julia, and Gio Gahol and Jon Abella as Tenyong. They are joined by a new cast member, Lance Reblando who also plays the role of Julia. Tickets are available through Ticket2Me.

Bring the kids to Rep’s Wonderland

REPERTORY THEATER for Young Audiences presents the fantastical world of Alice in Wonderland every weekend until Dec. 14. Based on the book by Lewis Carroll, with music and lyrics by Janet Yates Vogt and Mark Friedman, it is directed by Joy Virata and Cara Barredo. As Alice follows the rabbit into Wonderland, the production highlights audience participation with kids in attendance. It runs at the REP Eastwood Theater in Quezon City. For ticket inquiries and showbuying opportunities, message REP’s pages @repertoryphilippines, call 0962-691-8540 or 0966-905-4013, or e-mail info@repphil.org or sales@repphil.org.

Pag-IBIG Fund on track to hit 2025 net income target after record 1st half

THE HOME Development Mutual Fund or the Pag-IBIG Fund is on track to post another record-high net income this year.

“We are on track for the target net income for this year. In fact, it was announced around three weeks ago that we are also on target to achieve the dividend rates or to equate the dividend and return rates for 2024,” Pag-IBIG Fund Vice-President for Public and Member Relations Domingo C. Jacinto, Jr. said at a press conference on Thursday.

“We’re doing all we can to exceed that so we can at least match or exceed our dividend rates of 6.6% for regular savings and 7.1% for MP2 (Modified Pag-IBIG 2) Savings,” Mr. Jacinto said, referring to its voluntary savings program.

Pag-IBIG Fund is targeting a net profit of P58.50 billion this year, based on a document on its website, which would be higher than the P56.58 billion it recorded in 2024.

It posted net earnings of P28.045 billion in the first half, below the P29.505-billion goal for the period but up 15.25% year on year. This was also a record first-semester profit for the agency, it earlier said.

Mr. Jacinto said Pag-IBIG Fund will continue to expand its lending programs.

“What we would certainly like to push are our housing loan programs and our multipurpose loan programs because these are the loans that will benefit our members directly,” he told reporters.

In the first semester, it released P58.13 billion in housing loans to 37,927 beneficiaries and P42.86 billion in short-term loans to 1.64 million recipients.

Pag-IBIG Fund also expects most of its investment income to come from government securities, even as benchmark borrowing costs continue to go down, Mr. Jacinto said.

“It’s part of our support to the government, and that’s why… we’ll always prioritize government securities.”

The agency’s income from investments jumped by 51.79% year on year to P4.27 billion in the first semester, “driven by strategic placements in bonds and other debt securities, money market instruments, equities, and investment properties,” it earlier said.

Investment income made up 5.56% of its gross income in the period.

Pag-IBIG Fund’s total assets stood at P1.14 trillion at end-June, up 7.02% from P1.07 trillion at end-2024. — A.M.C. Sy

To heal the system, flush out the big fish

ANTI-CORRUPTION advocates launch their ARTIKULO XI: Citizens’ War Against Corruption, a collective effort against corruption from various nongovernmental organizations (NGOs), civil society groups, church and youth sectors among others, during a press conference in Quezon City on Aug. 25. — PHILIPPINE STAR/MIGUEL DE GUZMAN

Corruption in public spending is no longer just a governance failure; it has become a crisis of legitimacy. In the Philippines, after weeks of anguished revelations in both the Senate and the House of Representatives, public outrage over anomalous flood-control projects is powerful, and rightly so. But exposure alone does not repair what has been broken. Unless citizens see justice applied evenhandedly with powerful actors in the Senate, House, Executive, and their private-sector collaborators identified, charged, and, where warranted, convicted, the same cycle of theft, impunity, and cynicism will hollow out government capacity and public trust.

SOBRA NA! TAMA NA!*
Research on corruption prevention is clear: real accountability demands more than rules and audits. A comprehensive 2023 review for Public Safety Canada distils four mutually reinforcing approaches: 1.) value-based integrity and ethical leadership; 2.) compliance mechanisms (rules, monitoring, sanctions); 3.) risk-management (corruption risk assessments, targeted safeguards); and 4.) transparency and civic participation visible and auditable. No single technical fix suffices; meaningful change depends on a calibrated mix of culture, control, diagnostics, and public engagement.

The World Bank’s anti-corruption agenda of March 2023 strengthens this framework. It points to open contracting and e-procurement namely, beneficial-owner disclosure, stronger public financial management, sanctions and debarment regimes, and technology and standardized data for oversight. It also insists on diagnostics — mapping corruption risk by project and sector — and combining prevention, detection, and enforcement. Corruption is not merely moral decay; it undermines growth by eroding efficiency, productivity, and blocking the very goals of poverty reduction and shared prosperity.

GLOBAL PRECEDENTS AND RECENT ALARMS
These frameworks are not theoretical. Around the region, citizens are reacting when elites profit while ordinary people suffer. In Nepal, for example, in early September, Gen-Z protesters, students and young people, flooded Kathmandu and many towns after the government banned 26 social media platforms, including Facebook, WhatsApp, X, and YouTube. While the immediate trigger was censorship, the deeper grievances were corruption, nepotism, economic stagnation, and visible elite excesses. Their viral messages sound familiar: “Shut down corruption, not social media,” “Youths against corruption,” “Where has taxpayer money gone?” With very aggressive response from security forces, at least 19 people were reportedly killed, hundreds injured. The government lifted the ban, the Prime Minister resigned, and an investigation panel was promised.

In Indonesia, public discontent has mounted over economic hardship, perceived corruption, and the impunity of public officials. Early this month, the Indonesian Parliament moved to fast-track a long-delayed asset forfeiture bill, a tool to seize wealth from officials whose assets are vastly disproportionate to their declared income, after protests and pressure over politicians’ lavish perks amid economic strain. President Prabowo Subianto, in public dialogues, has acknowledged corruption as “worrisome” and pledged action. It is quite obvious that when dissatisfaction becomes visible, as when public policies are tweaked to award inordinate benefits to the powerful, governments can be pushed toward reform.

These Public Safety Canada and World Bank frameworks, validated by the Nepalese and Indonesian experiences, yield a demanding but necessary conclusion: technical measures — e-procurement, geotagging, digital payments — are essential but far from sufficient. When accountability stops at mid-level functionaries like district engineers and ordinary staff, while those who enable system-wide capture — legislators, cabinet secretaries, political patrons — remain untouched, the deterrent value of rules is nullified.

Filipinos, fortified by years of struggle and emboldened by EDSA victories, will not accept prosecutions of expendable scapegoats while sponsors walk free. The result is likely a powder keg of public anger that will eventually explode.

This is the core political-economy challenge: prevention requires both sound systems and credible enforcement. Exposure without consequences simply breeds weary resignation. But Filipinos need not despair or surrender.

What must the Philippines do differently — and urgently?

1. Make enforcement at the top non-negotiable. President Ferdinand Marcos, Jr.’s proposed independent investigative commission must have subpoena and contempt powers and be truly free to investigate anyone — including those removable only via impeachment. Its findings should feed directly into the Department of Justice and the Office of the Ombudsman, which must resist political pressure. Technical instruments will only gain credibility if used visibly in high-stakes cases.

2. Institutionalize asset recovery, forfeiture, and unexplained wealth laws. Existing laws that allow forfeiture of wealth manifestly disproportionate to lawful income must be used aggressively and transparently. Public, high-profile asset recovery cases against top-level beneficiaries of corrupt contracts do more than punish — they restore stolen resources and shift public expectations of what is possible.

3. Bind technical safeguards to real enforcement. Open contracting, beneficial-owner disclosure, geotagged and time-stamped project validation, e-procurement, and automatic debarment for firms implicated in serious fraud must be standard. But these tools only bite when violations trigger sanctions. Justice begins when hearings and investigations conclude with consequences — not just press statements.

4. Reform conflict-of-interest and campaign finance. Legislators with financial stakes in firms bidding on government contracts, otherwise hidden interests, or entanglements in campaign donations must face mandatory recusal rules, disclosure, and prohibitions. Ending the revolving door between political support and contracting rents is essential. The structural incentives — what benefits elites — must be changed, not just the monitoring layers.

5. Strengthen civic participation and whistleblower protection. Civil society can extend oversight far beyond what government alone can do — but only if it has access to reliable data and secure channels to report wrongdoing. Whistleblowers must be protected from retaliation. When young people can expose wrongdoing through social platforms as in Nepal, it shows how transparency plus citizen voice can rapidly amplify pressure.

6. Demands for judicial reform and timely adjudication. Long investigations without trials, plea bargains that spare major actors, and procedural delays all feed cynicism. Courts must be resourced, insulated, and held to ensure high-profile corruption cases are tried efficiently, fairly, and with transparency. Once again, the public must see that justice is not only done, but seen to be done.

WHY THIS IS URGENT — AND WHAT IS AT STAKE
When accountability reaches top levels, returns are not merely moral. Public resources are deployed more productively; disaster resilience improves; fiscal space is protected for social protection rather than leakages; investor confidence grows; inflation and supply disruptions are eased. On the other hand, continued impunity magnifies damage: waste, weakened capacity, higher risk premiums, and persistent inflation when disasters meet inadequate public goods.

Recent indicators in the Philippines confirm this danger. The 2025 CEO Survey by the Management Association of the Philippines and PwC indicates CEOs remain highly dissatisfied with the government’s anti-corruption performance. In turn, domestic investment’s weak contribution to GDP seen in Q2 of 2025 may reflect further erosion of trust in future readings of national output.

These proposals are not calls for vindictive vengeance; they are a roadmap to restore institutional credibility so that preventive tools, notably those articulated by Public Safety Canada and the World Bank, can actually work. Singapore’s CPIB, Indonesia’s KPK, and Hong Kong’s ICAC show that when enforcement reaches the top, systemic and cultural change becomes possible.

For the Philippines, the task is to unite powerful technical controls with enforcement that is visible, impartial, and unapologetically reaches to the top. Until citizens can see that the “big fish” are held to account, transparency reforms and procedural audits will remain at best partial remedies.

To rebuild the social contract, the government must prove that public office is a public trust, not an entitlement. That proof requires more than exposés and hearings: it requires the identification, prosecution, and conviction of those at the heart of networks that hollow out public investment. Only then will citizens believe the system works — and only then will preventive instruments translate into lasting reform.

The research consensus is clear: prevention, transparency, participation matter — but they are only effective when backed by consistent, impartial enforcement at the highest levels. When even “big fish” are flushed out, then the system begins to heal. n

*That’s too much! That’s enough!

 

Diwa C. Guinigundo is the former deputy governor for the Monetary and Economics Sector, the Bangko Sentral ng Pilipinas (BSP). He served the BSP for 41 years. In 2001-2003, he was alternate executive director at the International Monetary Fund in Washington, DC. He is the senior pastor of the Fullness of Christ International Ministries in Mandaluyong.

Vivant expands Luzon footprint with 40% stake in solar firm

VIVANT ENERGY CORP.

VIVANT ENERGY CORP., the energy subsidiary of Cebu-based conglomerate Vivant Corp., acquired a 40% stake in Samal Solar Renewable Energy Corp. (SSREC), operator of a solar farm in Bataan, as part of its efforts to expand its renewable energy presence in Luzon.

Vivant Energy disclosed the P395-million stake in a regulatory filing on Thursday.

“The investment reinforces Vivant Energy’s commitment to the Department of Energy’s call for stronger public-private partnerships that ensure the benefits of the energy transition are realized through local development and capacity building,” the company said.

Vivant Energy, a wholly owned subsidiary of Vivant Corp., serves as the holding company for the group’s energy investments, which include power generation, distribution, and retail electricity supply.

The conglomerate also has a presence in the water sector, covering bulk water supply, wastewater treatment, and distribution.

The 53.14-megawatt-peak (MWp) solar farm in Bataan was developed by Tigon Power Corp. and is operated under SSREC, supplying 52 MW of clean power to Corenergy, Vivant Energy’s retail electricity arm. — Sheldeen Joy Talavera

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