MANILA — Cash remittances rose 3.7% in June from a year ago to $3 billion, the Philippine central bank said on Friday.
In the first six months of the year, cumulative cash remittances through banks increased 3.1% to $16.75 billion. — Reuters
In every industry and institution, the future is in the hands of its young and promising visionaries. For the world of marketing and finance, it is all the more important for young and aspiring practitioners to be given a platform to hone their skills and showcase bold ideas and strategies they can use in response to the ever-changing trends and consumer patterns.
Established in 1992, the Agora Youth Awards (AYA) has become a platform for outstanding students and campus organizations to first experience marketing practices in the Philippines. Organized by the Philippine Marketing Association (PMA), the AYA also recognizes the skills, leadership, and passion of tomorrow’s marketing professionals, making sure that academic excellence translates to real-world business challenges.
For the award’s 33rd edition, the PMA began its search for the next wave of Gen-Z marketing disruptors and young visionaries who dare challenge the norms and reshape the future of the industry, which aligns with PMA’s 71st anniversary theme “AI-Nabled Pinoy Marketer.”
This year’s awards’ Junior Marketing Association (JMA) Category National Finals was hosted by Global Dominion Financing, Inc., an institution that helps Filipinos achieve their goals through easy and affordable loan products and services, coupled with innovative and adaptive loan facilities. Global Dominion also served as the case sponsor for the said category.
Held last Aug. 5, Global Dominion gathered the top JMA members from universities and colleges across the Philippines to present their pitches before a panel of judges, showcasing their creativity, strategic thinking, and grasp of real-world marketing challenges.
Among the universities and colleges with JMA representatives are Batangas State University – The National Engineering University (Pablo Borbon Campus), Central Luzon State University, Bulacan State University, Xavier University – Ateneo de Cagayan, University of Santo Tomas, De La Salle University, San Beda University, Polytechnic University of the Philippines, Silliman University, and the University of Makati.
The opening of the judging day was graced by Ms. Leah Marie Ayeng, Director for Youth and Academe of the Philippine Marketing Association and CEO of Prestige Products, who encouraged the finalists to embrace their roles beyond traditional marketing.
“Showcase the way you think, the way you empathize, the way you understand markets and communities; and more importantly, the way you stand for something beyond the brand,” she told the students. “To all of you, you are not just a student; you are a storyteller, a strategist, and a future social architect. Today is more than a competition; it is a celebration of how far you have come and a preview of the future you are about to stage. So, present with pride, speak with purpose, and live with integrity.”
Meanwhile, the esteemed group of judges includes C-suite executives from respected companies in the Philippines, such as Global Dominion President and CEO Patricia Poco-Palacios; Certified Professional Marketer (CPM) Asia Vice-President of Sales, Strategy, and Marketing Sy Bryan Lato; CPM Asia Executive Program Director Enrique Pablo Caeg; UNAHCO Inc. Vice-President of Marketing and Corporate Affairs Edwin Mapanao; Go Negosyo Program Development Manager Paul Anthony De Guzman; and Airspeed CMO Therese Castrojas-Galang.
In the event’s opening remarks, Ms. Palacios, a 2004 Agora Youth Awardee herself, shared her experiences as a marketer and advocated for financial inclusion in the industry.
“As someone who stood there where you are as an Agora awardee myself, it fills me with pride to now be leading Global Dominion Financing , Inc., a strong and multi-awarded financial institution that continues to grow with purpose,” she said.
Her remarks underscored the power of marketing not just as a business tool, but as a means to create meaningful change in people’s lives. Drawing from Global Dominion’s mission, she emphasized how strategic marketing can bridge the gap between financial institutions and the communities they serve.
“When we’re dealing with a marketing institution such as ourselves, marketing is key because we really need to broaden the awareness and really connect to those who have been underserved, those who have been intimidated by financial institutions. But, it’s a key driver, because it’s one of the ways that we can really move our country forward,” she added.
The JMA finalists were then tasked to present their pitches centered on growing Global Dominion’s women borrowers, challenging them to craft campaigns that emphasized financial literacy, inclusivity, and community engagement. Each university was encouraged to explore creative ways to reach women from diverse backgrounds, address barriers to accessing financial services, and highlight the impact of empowering female borrowers.
Students who had completed their respective pitches were treated to a meet-and-greet with company presidents who once came from their ranks, ice breaker activities headed by Global Dominion staff, an office tour of the Global Dominion headquarters in Ortigas, as well as a recruitment briefing led by Global Dominion Chief People Officer Godofred Matias.
Recognizing these efforts, Ma. Cristina Oreta, CPM., 2025 PMA President, expressed her appreciation to Global Dominion for its role in nurturing the next generation of marketing leaders.
“I would like to do a special shoutout sa Global Dominion, napakagaling po. Thank you very much, Pat (Global Dominion President & CEO) for loving the career, the industry, and the field. Thank you for giving back and guiding our next generation of marketing disruptors. Superb! Thank you again!”
Global Dominion’s activities tested the marketing expertise of the finalists while giving them opportunities to connect, collaborate, and learn from industry leaders and their fellow competitors. For most of the students, the experience was a rare chance to grow both professionally and personally.
“Immersing ourselves in this kind of environment, I would say it is a privilege to even be here in the first place. It’s a really good experience, especially for our particular team, working together for countless hours, interacting and networking with others, and also having the chance to learn ideas and implementable solutions from them,” Martin Pantelleon, a student from San Beda University, told BusinessWorld in an interview.
The passion and teamwork displayed during the competition resonated not only with the judges but also with the mentors who guided these young marketers throughout their journey. Coaches present in the competitions mentioned that seeing their students grow in skill, confidence, and camaraderie was as rewarding as any trophy.
“I am super proud of them. I’ve seen them grow. Initially, there were actually only three of us who started this association. So, we had a mini competition wherein we gathered students and had them audition to become new members of the team. From that, we are here. So, when it comes to being proud, I think they are champions in my heart already,” Xavier University – Ateneo de Cagayan coach Angelo Nikito Borres said.
The winners of the event, announced on Aug. 8 during the Agora Youth Awards Night, were led by the University of Santo Tomas Junior Marketing Association, recognized for their outstanding pursuit of innovation and automation. In second place was Batangas State University–Pablo Borbon Campus, lauded for their purposeful approach in promoting innovation, automation, and sustainability. Rounding out the top three was Silliman University, whose team skillfully integrated these same principles in their journey toward success.
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JuanHand has partnered with Electronic Commerce Payments (EC PAY) Inc., or ECPAY, a leading payment solutions provider, to enhance its services and offer customers faster, more convenient transactions. JuanHand now has access to ECPAY’s extensive payment network, enabling effortless transactions for users.
A key feature of this collaboration is the integration of JuanHand as a direct biller within the GCash app, allowing customers to pay for JuanHand services directly through GCash. Starting this August, JuanHand users can just open their GCash wallet, click on the ‘Bills’ icon, search or type in JuanHand, and they can already pay right away. It’s that easy. Transactions are processed in real time, ensuring instant posting and a hassle-free experience.
This partnership not only simplifies transactions for JuanHand users but also expands its reach to millions of GCash subscribers. By leveraging ECPAY’s robust payment infrastructure, JuanHand continues to innovate, providing efficient and reliable financial solutions for its growing customer base.
Streamlined Customer Experience is at the core of JuanHand’s operations. With the ECPay partnership, JuanHand reinforces its commitment to providing safe, convenient, and accessible digital payments.
JuanHand is operated by WeFund Lending Corp., which has already disbursed over P55 billion in loans and currently has over 15 million registered users. It’s easy to use a loan app with just one valid ID, and a five-minute loan approval process provides quick financial assistance to Filipinos nationwide. The partnership between JuanHand and ECPay demonstrates a strong commitment to financial accessibility, with both companies continue to pave the way for a more financially inclusive future.
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By Adrian H. Halili, Reporter
THE BANGKO SENTRAL ng Pilipinas (BSP) on Thursday ordered all electronic wallets (e-wallets), banks and other supervised institutions to remove in-app gambling assets, including any links that direct users to gaming or gambling websites.
“The BSP directive is issued in light of the surge in online gambling transactions and its impact on the financial health of consumers and their families, and considering the broader social cost,” the central bank said in a statement late Thursday.
The BSP said the suspension will remain in place until its guidelines for online gambling payment services are finalized.
BSP Deputy Governor Mamerto E. Tangonan said these financial firms were given 48 hours to remove the links that redirect users to gambling websites.
“The Monetary Board of the BSP has approved our policy ordering BSP-supervised institutions to take down and remove all icons and links redirecting to online gambling sites,” he said during a Senate committee hearing on online gambling.
In separate statements, GCash and Maya said they will comply with the BSP’s directive immediately.
E-wallets such as GCash and Maya have integrated gambling-related services in their apps, making it easy for users to access online casinos. This has helped fuel the popularity of online gambling in recent years.
However, concerns over rising gambling addiction and mounting debt have prompted lawmakers and regulators to consider measures to ban or restrict online gambling in the country.
Senator Alan Peter S. Cayetano questioned why it would take 48 hours to remove the links to online gaming sites when it could be done immediately.
“Why do they need 48 hours? Isn’t that instant? So if someone dies in 48 hours because they are addicted (to online gambling), is that okay?” said Mr. Cayetano, who heads the Senate Committee on Banks and Financial Institutions.
Mr. Tangonan said the 48 hours would be enough time for e-wallet operators to remove all links to online gambling sites.
“The other reason is so that we would give time for the customers to withdraw their funds from the online gaming account, once they learn that we are already removing the links from the mobile payment applications and websites,” he added.
Mr. Tangonan said that the removal of links to online gaming sites is an “immediate measure” as the BSP is still finalizing new rules to mitigate gambling-related harm by strengthening financial safeguards across banks, e-wallets, and payment platforms.
“The suspension of the in-house links from the mobile apps is an immediate measure, while we are finalizing regulations (on online gaming sites),” he said.
Mr. Tangonan said the use of credit cards to pay for online bets will also be prohibited by the BSP.
The BSP also proposed measures such as biometric ID checks, daily transaction limits, time-based payment restrictions, and user tools for spending caps, voluntary breaks, and self-exclusion.
The central bank said these safeguards aim to curb addiction, fraud, and financial harm while encouraging responsible use of digital finance.
E-WALLETS TO UPDATE APPS
GCash said they will immediately enforce the changes on its app once it receives the official directive from the BSP.
“We share the BSP’s commitment to ensuring that digital financial services are used responsibly and in ways that protect the welfare of Filipinos,” GCash said.
Maya said the app will be updated in line with the BSP’s guidance.
“We assure customers that their accounts and transactions remain secure and fully operational. We remain focused on serving our customers while fully complying with regulatory requirements,” Maya said.
Senator Erwin T. Tulfo, who chairs the Games and Amusements Committee, warned that he would cite the BSP official in contempt if e-wallets still have links to gaming sites once the 48-hour deadline ends.
“Don’t mess with this committee. We have a problem, we have a crisis. When you say that the deadline is on Saturday, I’ll give you until Sunday. If there are still (gaming links) on e-wallets on Sunday morning, we’ll cite you in contempt,” Mr. Tulfo said.
Sought for comment, Ronald B. Gustilo, national campaigner for Digital Pinoys group, said that the central bank should ensure that all e-wallet platforms comply with its order to remove links to gaming websites.
“Noncompliance should be met with harsh penalties such as suspension or even revocation of license,” Mr. Gustilo said in a Viber message.
“Ultimately, the protection and well-being of each Filipino should be the paramount agenda of any policy or regulation implemented by the government,” he added.
Filomeno S. Sta. Ana III, coordinator of Action for Economic Reforms, said that the BSP should utilize advanced technologies and artificial intelligence (AI) to monitor fraudulent activities linked to online gambling.
“Advanced technologies that monitor activities in real time are available. AI too is a good tool to monitor patterns of fraudulent activities,” Mr. Sta Ana said in a Viber message.
Mr. Tulfo also called on the BSP, the Philippine Amusement and Gaming Corp. (PAGCOR), and other government agencies to create “concise solutions” against online gambling.
“We want a clear and concise solution. We are talking now because majority of us wants total ban on online gambling while you are asking for regulation due to foregone revenues. From the Senate’s end, we are inclined to ban it because social ills outweigh the income benefits,” he added.
President Ferdinand R. Marcos, Jr. has earlier said that a ban may drive people toward illegal gambling platforms. He called for a broad consultation involving various stakeholders before making a decision.
For its part, PAGCOR said that it was still studying if it would impose higher collection rates for licensed gaming operators.
“The PAGCOR is talking to (the Department of Finance) and we are studying the possibility,” PAGCOR Chairman and Chief Executive Officer Alejandro H. Tengco told reporters.
Mr. Tengco, however, warned that imposing higher collection fees could encourage some to operate illegally instead.
“Let’s see if we should raise it a little bit so that it will be more tight, or maybe it will backfire and the illegal (operators) will be more profitable,” he added.
PAGCOR collects a 30% rate from e-gaming platforms. This was earlier slashed from 35% to encourage more illegal gambling operators to register.
According to PAGCOR, the gaming industry’s gross gaming revenues (GGR) jumped by 26% to P214.75 billion in the first half of 2025. This was driven by the electronic games sector which saw a 53.47% increase in gross revenues to P114.83 billion.
PAGCOR expects GGR to surpass P480 billion in 2025.
By Matthew Miguel L. Castillo, Researcher
FOREIGN INVESTMENT pledges plunged by 64.4% in the second quarter as investor sentiment turned cautious amid heightened global uncertainty driven by flip-flopping US tariff policies.
Preliminary data from the Philippine Statistics Authority (PSA) showed the value of foreign commitments approved by investment promotion agencies (IPAs) reached P67.38 billion in the April-to-June period, down from the revised P189.5 billion in same period in 2024.
However, this was the highest amount since the P143.74 billion seen in the third quarter of 2024. It was also more than double the revised P27.99 billion in the first three months of 2025.
During the second quarter, Singapore accounted for the bulk or 79.4% of total approved investment pledges at P53.48 billion. This was followed by the United States with P3.96 billion (5.9%) and the Netherlands with P1.91 billion (2.8%).
Cid L. Terosa, a senior economist at the University of Asia and the Pacific, said the decline in foreign investment approvals reflected drastic changes in external trade and investment environments.
“The uncertainty and instability created by Trump’s trade-related pronouncements was the overwhelming factor that pulled back business and investment plans of investors, not just in the Philippines but in many countries around the world,” he said in an e-mail.
However, the quarter-on-quarter increase was mainly due to the surge of investments in renewable energy from Singapore, Mr. Terosa said.
US President Donald J. Trump first announced the “Liberation Day” tariffs in early April, imposing a 10% baseline tariff on goods from all its trading partners. He also threatened higher “reciprocal” tariffs on most countries but this was postponed until July.
The Philippines initially faced a 17% tariff, but this was hiked to 20% in early July. Mr. Trump eventually set a 19% tariff on Philippine goods, which took effect on Aug. 7.
PSA data showed the investment pledges were approved by seven IPAs — the Authority of the Freeport Area of Bataan (AFAB), the Board of Investments (BoI), the Bangsamoro Board of Investments (BBoI), the Clark Development Corp. (CDC), the Clark International Airport Corp. (CIAC), the Philippine Economic Zone Authority (PEZA), and the Subic Bay Metropolitan Authority (SBMA).
The BoI contributed the biggest chunk or about 84.1% of foreign investment pledges with P56.65 billion in the second quarter.
Meanwhile, PEZA approved P6.92 billion worth of commitments (10.3% share) followed by CDC with P1.1 billion (1.6% share).
During the period, Bases Conversion and Development Authority, Cagayan Economic Zone Authority, John Hay Management Corp., Poro Point Management Corp., Tourism Infrastructure and Enterprise Zone Authority, and Zamboanga City Special Economic Zone Authority did not approve any investment pledges.
About 81.2% or P54.75 billion of the approved foreign investments will be poured into the energy industry, while 6.8% or P4.61 billion will be invested in the administrative and support service activities industry.
The manufacturing sector cornered P4.46 billion, about 6.6% of the total pledges.
By region, Bicol received the highest share of total pledged investments, with 47.8% or P32.21 billion. Calabarzon followed with P21.39 billion (31.7% share) and Central Luzon with P4.05 billion (6% share).
Meanwhile, PSA data showed investment pledges from Filipinos plunged by 56.3% to P231.69 billion in the second quarter from the P530.6 billion a year earlier.
This brought total approved investments to P299.08 billion, down 58.5% year on year.
Should these pledges materialize, around 38,234 jobs are expected to be created.
For the third quarter, Mr. Terosa said year-on-year growth in investment pledges will likely be “weaker.”
“(This is) partly because of base effects and the ‘wait-and-see’ attitude of foreign investors due to the turbulent global trade environment,” he said.
“It is possible, however, that the quarter-on-quarter growth of foreign investments will continue to be strong because of the economic resilience shown by the Philippines as reflected in economic indicators.”
In the second quarter, the Philippine economy grew by 5.5%, a tad faster than the 5.4% in the first quarter.
For the first half, gross domestic product (GDP) growth averaged 5.4%, slower than the 6.2% a year ago. The government is targeting 5.5%-6.5% GDP growth this year.
The PSA data on foreign investment commitments, which may materialize shortly, differ from actual foreign direct investments tracked by the BSP. The central bank’s monitoring goes beyond the projects and includes other items such as reinvested earnings and lending to Philippine units via their debt instruments.
By Justine Irish D. Tabile, Reporter
NEW VEHICLE SALES declined in July, as bad weather disrupted retail operations, a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed.
The CAMPI-TMA report showed new vehicle sales fell by 2.6% to 38,295 units in July from 39,331 units in the same month a year ago.
Month on month, car sales also slipped by 5.4% from 40,483 units sold in June.
CAMPI President Rommel R. Gutierrez attributed the decline in sales to weather-related disruptions, which affected retail operations.
In July, passenger car sales slumped by 25.7% to 8,120 from 10,923 units sold in the same month a year ago.
Month on month, sales jumped by 17.31% from 6,922 units sold in June.
On the other hand, sales of commercial vehicles, which accounted for 78.8% of July sales, increased by 6.2% to 30,175 from 28,408 units a year ago. Month on month, sales declined by 10.1% from 33,561 units in June.
Broken down, sales of light commercial vehicle sales grew by 8% year on year to 22,523 units in July, while sales of Asian utility vehicles (AUV) inched up by 0.7% to 6,664.
Month on month, sales of light commercial vehicles and AUVs dropped 11.7% and 7.4%, respectively.
Sales of light-duty trucks and buses went up by 5.6% year on year to 607 units in July, while sales of medium and large trucks increased by 1% and 21.5% to 302 and 79 units, respectively.
Month on month, sales of light, medium, and heavy trucks increased by 14.1%, 11.4%, and 36.2%, respectively.
CAMPI and TMA expressed confidence the industry will hit its 500,000 full-year sales target, driven by new model launches, promotional campaigns, and improving consumer sentiment.
“The industry’s continued growth, particularly in commercial segments, reflects strong market fundamentals and the agility of our members in navigating short-term challenges,” Mr. Gutierrez said.
“We are optimistic that the momentum will carry forward into the second half of the year,” he added.
Mr. Gutierrez said that the sales momentum is being supported by “strong commercial vehicle demand and signs of recovery in the passenger car segment.”
For the January-to-July period, new vehicle sales increased by 1.4% to 269,207 units from 265,610 units a year ago.
Commercial vehicle sales grew by 10.6% to 215,440 units from 194,812 units in the same period a year ago.
This offset the 24.1% decline in passenger car sales to 53,767 in the first seven months from 70,798 in the same period last year.
Philippine Institute for Development Studies Senior Research Fellow John Paolo R. Rivera said that the increase in commercial vehicle sales reflect the demand shift among customers.
“Businesses and transport operators continue to invest, while consumer purchases are being postponed amid economic uncertainty,” he said in a Viber message.
Mr. Rivera said that the industry’s full-year sales target of 500,000 is achievable, assuming there is continued infrastructure spending and new model launches.
“However, sustained passenger car recovery will require improving affordability, credit terms, and consumer confidence,” he added.
Regina Capital Development Corp. Head of Sales Luis A. Limlingan said that July car sales show that automobiles are no longer at the forefront of consumers’ discretionary spending despite stronger consumption trends.
“While the 500,000-unit target is still within reach, but we still consider various factors, including the potential impact of holiday spending,” he said in a Viber message.
“Notably, despite the uptick in overall consumption compared to last year paired with election spending, vehicle sales have shown a quite muted response,” he added.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said that the latest sales report reflected buyers’ preference for sport utility vehicles and vehicles with higher elevation or clearance in view of the rainy season.
He also said that the July data may have reflected “some frontloading of purchases for pickup trucks before higher tax rates take effect.”
Pickup trucks were previously given special tax treatment under the Tax Reform for Acceleration and Inclusion law.
President Ferdinand R. Marcos, Jr. earlier this year signed into law the Capital Markets Efficiency Promotion Act, which in part reimposes the excise tax on pickup trucks.
Meanwhile, Mr. Ricafort said that electrified vehicles (EVs), including hybrid vehicles, have become an additional source of demand.
“These become more responsive to customer ever-changing requirements and preferences… with better terms and prices,” he added.
According to the report, the industry sold 2,707 EV units in July, down by 11.4% from the 3,057 units sold in June.
For the first seven months, EV sales stood at 16,195 units, accounting for 6.02% of the industry’s total sales.
Toyota Motor Philippines Corp. remained the market leader, with sales of 129,334 units in the January-to-July period, up 5.4% from 122,730 units a year ago. It accounted for 48.04% of the market share.
Mitsubishi Motors Philippines Corp. ranked second with a market share of 19.01% after posting a 1.1% increase in sales to 51,167 units in the first seven months from 50,599 units a year ago.
In third spot was Nissan Philippines, Inc., even as sales dropped by 13.8% to 13,629. It had a market share of 5.06%.
Rounding out the top five were Ford Motor Co. Phils., Inc. which saw a 20.8% drop in sales to 13,323, and Suzuki Phils., Inc., which saw a 9.8% increase in sales to 12,622 units.
BUDGET SECRETARY Amenah F. Pangandaman wants to limit unprogrammed appropriations to not more than 5% of the national budget.
Speaking at the Kapihan sa Manila Bay briefing on Thursday, Ms. Pangandaman said she wants to cap the standby funds at 5% of the budget, guided by international standards.
“When I went to the International Monetary Fund (IMF) three years ago, we were concerned about the rising trend in unprogrammed appropriations after the NEP (National Expenditure Program) was passed. I asked them what the best practice was, and they told me at least 5%,” she said.
The DBM on Wednesday submitted to Congress the proposed P6.793-trillion national budget for 2026.
Unprogrammed appropriations were allotted P249.9 billion, equivalent to 3.68% of the proposed 2026 NEP.
This was 68.79% lower than the P363.42-billion allocation this year, which accounted for 5.7% share of this year’s budget.
According to the DBM, unprogrammed appropriations refer to standby funds that can only be used for certain projects only when revenue collection exceeds targets or when additional grants or foreign funds are secured.
Broken down, these include support for foreign-assisted projects (P97.31 billion), strengthening Assistance for Government Infrastructure and Social Programs (P80.86 billion), and Revised Armed Forces of the Philippines Modernization Program (P50 billion).
Other items include support to government-owned and/or -controlled corporations (P6.9 billion), the public health emergency benefits and allowances for healthcare and non-healthcare workers (P6.77 billion), and the program on risk management (P3.6 billion).
Both Marawi Siege Victims Compensation Program and Comprehensive and Adequate Insurance Protection of Strategically Important Government Assets and Interest have a proposed allotment of P2 billion.
The Fiscal Support Arrearages for Comprehensive Automotive Resurgence Strategy Program will receive P333.5 million.
The government earmarked P210.58 million for the refund of the service development fee for the right to develop the Nampeidai Property in Tokyo, Japan.
Ms. Pangandaman said a bill setting a limit for unprogrammed appropriations should be passed by Congress.
Budget Assistant Secretary Mary Anne Z. Dela Vega said last year, the bicameral conference committee transferred certain agency line items to the unprogrammed appropriations.
The DBM allotted P158.665 billion for standby funds for this year, but lawmakers increased it to P363.42 this year.
At the same briefing, Ms. Pangandaman said the government will launch this month a new program “Budget ng Bayan Monitor” that would review the performance of each department or agency.
This will include the budget and amount they spent, as the DBM aims to monitor the status of various government projects.
The DBM is also set to launch the Project Digital Information for Monitoring and Evaluation on Aug. 20. It will tap satellite imaging and geo-tagging systems to monitor priority infrastructure projects and other large-scale programs. — A.R.A.Inosante
TANCO-LED digital entertainment provider DigiPlus Interactive Corp. posted a 30% rise in its second-quarter (Q2) net income to P4.2 billion from P3.23 billion a year earlier, driven by growth in its retail games segment.
April-to-June revenue surged by 31% to P24.71 billion, while earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 32% to P4.5 billion, DigiPlus said in a regulatory filing on Thursday.
“These figures were driven by new game offerings across DigiPlus’ platforms,” the company said.
DigiPlus runs the BingoPlus, ArenaPlus, and GameZone platforms. According to its website, the company has expanded since 2022 to offer more than 1,000 games, such as bingo, e-casino titles, and traditional perya games.
DigiPlus said its first-half net income surged by 61% to P8.4 billion from P5.23 billion in the previous year.
Revenue grew by 47% to P47.78 billion on the back of increased business activity and the rollout of new games and licenses. EBITDA climbed by 65% to P9.09 billion.
“The company’s performance reflects continued growth in its retail games segment, as well as contributions from new product offerings and operational efficiencies,” DigiPlus said.
In July, DigiPlus announced it is expanding into South Africa, following the planned launch of its Brazil operations next month, as part of its continuing international expansion.
DigiPlus was listed in the Fortune 500 Southeast Asia for the second straight year in the second quarter.
It also received the Digital Operator of the Year award at the 2025 Global Gaming Awards Asia-Pacific.
On Aug. 7, DigiPlus joined the Interim Council of the PlaySafe Alliance of the Philippines, which was formally signed into agreement by 19 founding organizations.
“This alliance is not about competition—it’s about collaboration,” DigiPlus Chairman and alliance founding member Eusebio H. Tanco said.
“By working as one, we can ensure that online gambling in the Philippines becomes more secure, transparent, and beneficial to both players and the nation,” he added.
DigiPlus remitted P18.4 billion in government taxes and regulatory fees during the first half.
On Thursday, DigiPlus shares fell by 19.83% or P5.95 to P24.05 apiece. — Revin Mikhael D. Ochave
ANDREW L. TAN-LED conglomerate Alliance Global Group Inc. (AGI) posted a 25% rise in second-quarter (Q2) attributable profit to P5.3 billion on a normalized basis, driven by its real estate and tourism segments.
April-to-June consolidated revenue stood at P45.3 billion on a normalized basis, slightly higher than the P45.08 billion recorded in the same period last year, AGI said in a regulatory filing on Thursday.
For the first half, AGI said its net income grew by 39% to P19.2 billion as revenue reached P100.9 billion.
AGI booked a one-time gain of P3.4 billion after reclassifying McDonald’s Philippines operator Golden Arches Development Corp. (GADC) from a consolidated subsidiary to an associate in its financial statements. The conglomerate holds a 49% stake in GADC.
Excluding such one-offs and netting out all GADC items in the financials, AGI said its attributable net profit grew by 23% to P10.1 billion while consolidated revenue went up by 3% to P87.1 billion.
“AGI delivered strong results in the first half of the year, benefitting from a buoyant domestic economy despite ongoing global uncertainty,” AGI President and Chief Executive Officer Kevin L. Tan said.
“Our strong performance was also accompanied by ongoing cost-efficiency measures, which we implemented across all our business segments. By managing our costs, we hope to enhance our operating leverage to ensure a more robust growth in profit as the economy further recovers,” he added.
On the property business, Megaworld Corp. saw a 25% increase in attributable net income to P10.7 billion as revenue climbed by 10% to P43.1 billion.
Real estate sales grew by 9% to P27.1 billion amid the rise in residential demand and steady project completion. Sales reservation reached P54.7 billion while project launches stood at P10.4 billion.
The office segment through Megaworld Premier Offices saw a 17% increase in office rental income to P7.4 billion due to new leases, capacity additions, and a stable occupancy rate of 87%.
The malls business led by Megaworld Lifestyle Malls contributed P3.3 billion to group revenue, up by 10%, on improving foot traffic, new tenants, and a 93% occupancy rate. Megaworld Hotels & Resorts, accounted P2.8 billion in revenue, reflecting a 19% improvement.
“During this period, our group took advantage of pockets of opportunities in the market to boost our residential and retail sales, as well as our office take-up,” Mr. Tan said.
The liquor manufacturing segment led by Emperador Inc. recorded P3.9 billion in attributable net income and P28.2 billion in consolidated revenue, driven by improved domestic brandy sales, stronger whisky sales, and wider overseas sales.
“Our spirits segment sustained its recovery in sales, a testament to the strength of its brands that have been expanding their presence in the local and international markets,” Mr. Tan said.
On the leisure and tourism segment, Travellers International Hotel Group, Inc. grew its earnings before interest, taxes, depreciation, and amortization by 11% to P4.5 billion. Its attributable income stood at P315 million while gross revenues reached P18.9 billion.
Gross revenue stood at P9.2 billion, as gross gaming revenues reached P7.5 billion, led by steady growth in mass business.
Non-gaming revenue reached P1.7 billion amid 90% hotel occupancy as the Newport World Resorts complex continued to enjoy healthy foot traffic.
“Our tourism and leisure segments also enjoyed increased activities and occupancy, tapping into the increasing demand for staycations and meetings, incentives, conferences, and exhibitions events,” Mr. Tan said.
AGI shares were unchanged at P7.50 apiece on Thursday. — Revin Mikhael D. Ochave
GOTIANUN-LED Filinvest Development Corp. (FDC) reported a 44% year-on-year increase in second-quarter (Q2) attributable net income to P3.78 billion, driven by gains across its banking, real estate, power, hospitality, and sugar operations.
Total revenue and other income for the second quarter increased by 1% to P29.21 billion from P29.04 billion a year ago, FDC said in a regulatory filing on Thursday.
First-half attributable net income grew by 34% to P7.43 billion from P5.54 billion the prior year. Total revenue and other income improved by 5.5% to P58.5 billion.
“The growth was broad-based with banking, real estate, power, hospitality and sugar posting double-digit profit increases,” FDC said.
Banking contributed 38% or P3.2 billion of FDC’s net income, followed by power at 32% or P2.7 billion, property at 19% or P1.7 billion, and sugar at 11% or P997 million.
“We sustained our strong growth momentum in 2024 to the first half of 2025. All our business units contributed to this performance despite several challenges,” FDC President and Chief Executive Officer Rhoda A. Huang said.
“We are striving to deliver strong results for the entire year. We are harnessing the energy of the organization to continuously grow the business despite some headwinds,” she added.
For the banking segment, East West Banking Corp. saw a 15% increase in net interest income to P19.2 billion due to higher consumer loans.
Consumer lending remained the bank’s core product, accounting for 84% of the total loan book. Non-interest income went up by 29% to P3.5 billion.
The power business led by FDC Utilities, Inc. posted lower revenue and other income at P9.6 billion due to lower spot market activity and decline in coal cost pass-through rates in the period.
The real estate segment led by subsidiaries Filinvest Land, Inc., Filinvest Alabang, Inc., and Filinvest REIT Corp. recorded a 9% increase in revenue to P13.8 billion on higher residential sales and mall rental.
Residential sales climbed by 6% on stronger demand from the low-affordable and the high-end segments. Mall and rental revenues rose by 11% to P4.5 billion on higher occupancy and foot traffic.
Hotel operations under Filinvest Hospitality Corp. recorded a 7% revenue growth to P2.2 billion on better occupancy, higher volume and spend per guest, as well as improved contributions from the food and beverage segment.
The sugar business through Pacific Sugar Holdings Corp. saw a 23% increase in revenue and other income to P4.6 billion on higher milling and raw sugar sales.
FDC shares fell by 0.21% or one centavo to P4.75 per share on Thursday. — Revin Mikhael D. Ochave
LISTED fastfood giant Jollibee Foods Corp. (JFC) reported a 5.6% year-on-year increase in second-quarter (Q2) attributable net income to P3.21 billion, supported by higher system-wide sales (SWS).
SWS for the second quarter improved 19.6% to a record-high P114.5 billion from P95.8 billion a year ago, JFC said in a regulatory filing on Thursday.
The Philippine business grew its SWS by 11.3%, with Jollibee and Mang Inasal increasing by 13.3% and 13.9%, respectively.
The international business reported a 32.6% SWS growth as the coffee and tea segment saw a 68.6% improvement led by South Korean coffee chain Compose Coffee.
Revenue climbed by 15.5% to P77.63 billion while operating income rose by 19.1% to P6.04 billion.
“The Jollibee Group delivered strong financial results for the second quarter, with both revenue and profit growth accelerating compared to the first quarter — reflecting our continued business momentum and improved operational execution,” JFC Chief Executive Officer Ernesto Tanmantiong said.
“This operating income growth highlights the strength of our coffee and tea segment and sustained contributions of our Philippine business and Jollibee International, underscoring the effectiveness of our multi-brand and multi-market strategy,” Mr. Tanmantiong said.
Same-store sales growth (SSSG) for the quarter reached 5.5%. SSSG of the Philippine business increased by 6.4% while SSSG of the international business grew by 4.1%.
“Our strong operating results this quarter reflect not only the positive impact of our strategic acquisition but also the underlying resilience of our business,” Jollibee Group Chief Financial and Risk Officer Richard Shin said.
“Disciplined execution of both our cost optimization initiatives and portfolio innovation efforts helped stimulate growth and profitability. The expansion in operating margin and earnings underscores the effectiveness of our strategy,” he added.
For the first half, JFC saw a 0.7% drop in attributable net income to P5.62 billion from P5.66 billion a year ago.
SWS increased by 19.2% to P217.74 billion while revenue went up by 15% to P147.85 billion. Operating income also grew by 18.4% to P10.85 billion.
Mr. Shin said JFC will continue to “selectively deploy” capital expenditures, with a focus on supporting the growth of the Philippine business, Jollibee international, and coffee and tea segment.
“This balanced approach ensures that our investments are aligned with both strategic priorities and return objectives,” he said.
Mr. Shin noted that JFC’s China business is showing early signs of recovery, marking a potential turnaround in performance.
He added that Smashburger has a “clearly defined path” toward improving financial performance, supported by operational improvements, product innovations and conversion of company owned stores to franchised stores.
On the coffee and tea business, Mr. Shin said that Compose Coffee is set to surpass 3,000 stores.
“Compose Coffee remains on track to deliver a 36% return on invested capital in 2025, demonstrating the value-creating potential of this acquisition,” he said.
“The coffee and tea segment continues its upward trajectory, emerging as one of the fastest growing segments. Expansion across key geographies is driving incremental revenue and margin enhancement,” he added.
As of end-June, JFC increased its store network by 45.5% to 10,119, consisting of 3,424 stores domestic stores and 6,695 international stores.
The international stores consist of 547 in China, 357 in North America, 400 in Europe, the Middle East, and Africa, 896 with Highlands Coffee mainly in Vietnam, 1,261 with The Coffee Bean and Tea Leaf, 346 with Milksha, 2,809 with Compose Coffee, and 79 with Tim Ho Wan.
JFC shares rose by 2.33% or P5 to P220 per share on Thursday. — Revin Mikhael D. Ochave
PROPERTY developer SM Prime Holdings, Inc. said its premium residential brand Signature Series by SM Residences plans a luxury Makati project, targeting a possible launch in the first half of 2027 amid strong demand from high-net-worth buyers.
“We may be able to launch by the first half of 2027 if things go as planned. There are many moving parts at this point, and it is still quite early to say that things will go in a particular way,” SM Prime Executive Vice-President and Signature Series Group Head Jose Juan Z. Jugo said at a recent virtual briefing.
Mr. Jugo said this as Signature Series is finalizing talks with an unnamed local strategic partner for the planned luxury development that will sit on a one-hectare land in Makati City.
“Makati properties are not very big because of scarcity. What we’re talking about is less than one hectare. With regard to this particular project, we want to take our time in planning the project in the best way possible. And because of that, the planning might take several months,” he said.
“We’ve looked for the best possible partner for this property. We’ve come down to a potential partner that is locally based. We feel that this partner will bring a very good partnership with us because of the longevity they’ve had in the local market and the presence they’ve had in the market we want to penetrate,” he added.
Mr. Jugo said the company is pursuing the Makati project amid strong demand from high-net-worth individuals and families.
“If we study the residential market in the Philippines, we see that the space for premium primary residential has not yet been addressed to its best capacity. Signature Series is entering this space to make a new mark, harnessing SM’s strong organization, resources, and commitment,” Mr. Jugo said in a separate statement on Thursday.
Last month, SM Prime earmarked an initial P25 billion in capital expenditure for the first project of Signature Series that will feature the development of a 284-hectare property in Muntinlupa City.
The project will feature residential clusters, neighborhood retail, civic spaces, pocket parks, and an ultra-luxury village.
SM Prime shares dropped by 1.26% or 30 centavos to P23.50 per share on Thursday. — Revin Mikhael D. Ochave
