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Food Delivery and the hunger for truthful stories

Film on West Philippine Sea fisherfolk, sailors hits cinemas

FOLLOWING a cancellation of its initial run at the Puregold CinePanalo Film Festival back in March, the documentary Food Delivery: Fresh from the West Philippine Sea finally premiered at Gateway Mall 2 on Aug. 13. It is now showing at Gateway Cinemas in Quezon City, and in select Ayala Malls Cinemas throughout the country.

The film follows Filipino fishermen and sailors stationed at the frontlines of the fight for national sovereignty. Through their personal stories, the documentary sheds light on the struggle to get food to and from the distant isles in the highly contested West Philippine Sea (WPS).

At the premiere, presented by the Quezon City local government and the QCinema International Film Festival, two of the fishermen in the center of the film attended to share their thoughts after the screening.

“Itong paglaban, hindi lang laban ng mangingisda. Laban po ito ng lahat ng Pilipino (This fight is not just the fight of fishermen. It’s the fight of all Filipinos),” Ozman Pumicpic told the audience.

“Lagi ko iniisip, paano na lang kung habangbuhay ito mangyayari? Paano ’yung mga bata pa na lumalaki tapos sa susunod na henerasyon ito pa rin ang nangyayari? (I always think, what if this is a lifelong battle? How about the children growing up, then the next generation who will still face these problems?)” he said.

China claims sovereignty over nearly the entirety of the South China Sea, a key waterway that sees more than $3 trillion in annual ship-borne commerce, despite much of it also being claimed by various Southeast Asian countries, including the Philippines.

For the Philippines, the area of the South China Sea under its jurisdiction is referred to as the West Philippine Sea — and these are the same waters where Subic-based Mr. Pumicpic and his community make a living.

Food Delivery shows him and another fisherman, Arnel Satam, working near Scarborough Shoal, where they are monitored and sometimes harassed by Chinese ships. Meanwhile, the Philippine Coast Guard (PCG) and the Philippine Navy stationed in the WPS must patrol the area with caution.

Tying together these stories is the common thread of food being a vital resource, be it for fish ports, markets, and establishments to which the WPS fisherfolk sell their catch or the PCG who must get supplies out to the Marines manning outposts in the distant islets.

A ROLLERCOASTER RIDE
Documentary filmmaker Baby Ruth Villarama told BusinessWorld that she did not expect getting the film out to be this challenging.

“Due to external pressure, the original premiere did not happen. It’s been a rollercoaster ride since,” she said.

The film instead premiered in New Zealand in June, at the Doc Edge Festival. The Chinese Consulate in New Zealand sent an e-mail to the Auckland-based festival’s organizers, which called the documentary “rife with disinformation and false propaganda.”

Doc Edge held firm and went ahead with the premiere.

It would be a little over a month later that the film reached Philippine shores, through a week of special screenings at the Power Plant Mall in Rockwell, Makati, attended by journalists, government leaders, the military, the coast guard, and fisherfolk.

Various mall cinemas have since expressed interest in showing the documentary, Ms. Villarama explained.

“This screening in Gateway is very vindicating, because this is the exact cinema where we were supposed to premiere back in March. It’s extra special,” she said. “For Power Plant to lead the way was important. Ayala came and Gateway followed. Megaworld will be next week.”

She added that even if the screenings are limited to once or twice a day, the goal is for Filipinos to “come and be exposed to these stories, so they know how important the West Philippine Sea is.”

PUTTING IT ALL TOGETHER
Food Delivery is structured in a way that traces the paths of food, allowing the geopolitical complexities to take a backseat in favor of the on-ground, human experiences taking place.

Within the first few minutes, it provides context through a montage of headlines, archival footage of maritime clashes between the Philippines and China, and visual guides of the differing borders maintained by each country. It’s also backed by audio statements from the past two Philippine presidents and the current one, reflecting the country’s inability to enforce the 2016 Permanent Court of Arbitration ruling that declared the area as the Philippines’.

After that jumping point passed, the rest of the film opts to drift at sea with the people it depicts, to show and not tell, to be more personal than political.

In an interview back in March, Ms. Villarama told BusinessWorld that this was her goal, to let the people themselves shine. “To witness their life, their choices, and the things that make them happy is the most priceless experience,” she said.

Local coast guard and navy personnel shut down all their lights while Chinese drones patrol in the air. Local fishermen in their bangkas make a living out at sea, aware of the risk of Chinese motorized boats hosing them down if they go too near.

Those who have already seen news reports on the WPS will find nothing new in terms of information, with the film’s focus veering towards a sentimental, personal lens rather than a bitingly logical, big-picture one. Thus, there is a treasure trove of natural wonders and humanist utterances that only a crew spending weeks at a time filming people out at sea could find. This includes schools of fish — a bounty of food that will later end up in markets, restaurants, and hotels — swimming into the waiting nets, and flocks of seagulls free to fly and land wherever they please while the marine personnel watching below are restricted, grounded by laws.

By tying together seemingly fragmented lives, all bound to the waters and at the mercy of the geopolitical frictions that churn its waves, Food Delivery succeeds with what its director calls “a soft-power approach,” shedding light on what is actually happening out at sea. — Brontë H. Lacsamana

CREC second-quarter profit jumps to P305.5M, revenue hits P1.26B

Citicore Solar Negros Occidental — CREIT.COM.PH

LISTED renewable energy company Citicore Renewable Energy Corp. (CREC) said its attributable net income more than doubled in the second quarter (Q2) to P305.47 million, driven by higher revenues.

Revenues increased by 16% to P1.26 billion from P1.09 billion a year ago, according to the company’s financial report released on Thursday.

Electricity sales grew by 19% to P1.08 billion, while lease income remained stable during the period. Service fees increased by 14.3% to P17.46 million.

For the first six months of the year, CREC registered a 64.2% increase in net income to P629.74 million from P456.4 million a year ago. Revenues grew by 27.9% to P2.67 billion from P2.09 billion in the previous year.

Growth was driven mainly by a 32% increase in electricity sales to P2.29 billion, benefiting from an expanded mix of off-takers composed of direct corporate and industrial clients, higher renewal rates of existing contracts, and programs under the government’s Feed-in-Tariff and Green Energy Auction.

Earnings before interest, taxes, and depreciation (EBITDA) also climbed by 22% to P932 million from P765 million.

“CREC’s pure renewable energy platform remains an attractive choice for direct customers such as corporates and industrials. We continue to expand our customer base through our renewable energy portfolio as well as our commitment to providing tailored and efficient energy solutions,” said CREC President and Chief Executive Officer Oliver Tan.

CREC recently closed a $120-million share subscription agreement with Indonesia’s state-owned Pertamina New and Renewable Energy (Pertamina NRE).

Under the partnership, Pertamina NRE subscribed to a 20% interest in CREC, giving CREC access to jointly explore renewable energy investments in Indonesia, including potential solar and wind projects and collaboration on carbon credit development and trading.

CREC aims to add 1 gigawatt (GW) of capacity annually to the Philippines’ energy mix, focusing on ready-to-build or under-construction projects over the next five years, targeting a total of approximately 5 GW by 2028.

The company manages a diversified portfolio of renewable energy generation projects, power project development operations, and retail electricity supply services.

CREC said it is set to energize its first hybrid solar-AgroSolar and battery facility in the second half of the year.

“Citicore can achieve baseload levels and fully maximize the use of the facilities by combining agriculture and solar generation,” Mr. Tan said. — Sheldeen Joy Talavera

Incoming

A SCENE from Weapons

Movie Review
Weapons
Directed by Zach Cregger
MTRCB Rating: R-16

FIRST OF ALL: Weapons is easily the best horror in 2025 to date, an ingeniously written, inventively shot and staged film written and directed by Zach Cregger, whose debut feature Barbarian was also an inventive ingenious horror written and directed back in 2022.

All that out of the way — WARNING: plot and surprise twists discussed in close and explicit detail!

First thing that strikes you is the fairly unusual script — not for Cregger the trope of the brave young woman caught in a perilous situation; in an interview he recounts how he had started with something similar in Barabarian (girl arrives late one stormy night at a Detroit Airbnb only to find it already occupied by creepy young man) was immediately bored with the limited possibilities and wondered how he could change things up. In his case the solution was both simple and radical: he shifted perspective and brought in someone new.

With Weapons he ups the ante: Justine (Julia Garner) comes to class only to find all her students absent save Alex (Cary Christopher); the community is upset and angry at the disappearance of their children and blame Justine; she naturally feels motivated to find out what had happened, and perhaps make sure Alex is all right.

Cregger follows Justine’s thread far as it goes then pivots to follow someone else’s; the result is a tapestry that captures the mood and personality of an entire town, or a surprisingly wide sample of its citizenry.

He’s cited Paul Thomas Anderson’s Magnolia with its multi-character, multi-narrative script as inspiration, but I submit an equally relevant influence is, of all things, Stanley Kubrick’s The Killing, where the strands of various characters are woven together to execute a racetrack heist — here you see the same rewinding back to a previous event, the same retelling an incident from a different point of view, the way discrete moving parts come together to form a complex whole — not this time the mechanism of a tightly planned robbery but of a haphazardly staged crime investigation, where there’s the added suspense of which eventually succeeds, the coverup or the investigation (for much of the picture it’s pretty much neck-and-neck). The lucky breaks, the unlucky accidents, the sometimes surreal way things can come together or unravel — Cregger hooks you and drags you along, wanting to know not just what happened but how it happened and why, arguably the most primal appeal of the art of storytelling.

But it isn’t just all about story, which is impressive enough; the characters engage. Justine has the clenched jaw look of someone who suffered a traumatic ache, got blamed for it, and is determined to prove the whole community wrong; Archer (Josh Brolin), business owner and father of one of the vanished, has the more haunted look of someone who regrets not knowing what he had till it was taken from him (but still hasn’t learned all the lessons — Cregger leaves the suggestion, unresolved, that Archer is responsible for a sophomoric act of vandalism on Justine); Paul (Alden Ehrenreich) is a sad sack cop with an impulsively heavy fist who can’t stay away from Justine (they meet for the odd hookup), keeps getting in trouble (he’s really dating his superior’s daughter and tiptoes round the boss’ good side); local druggie James (Austin Abrams) is equally funny as a professional leaf on a wind and Paul’s occasional punching bag; Marcus (Benedict Wong) is amusingly beleaguered as Justin’s school-principal boss and constant defender to the angry parents.

Cregger doesn’t quite see his people as plot functions; each has their points of view, their varying predicaments, their sometimes foolish, sometimes cruel ways of dealing with each other; we view them, we laugh at their absurdities (in an interview Cregger noted that when he tried to write a deliberate joke it fell flat, but when he just let a character act according to his or her nature, the humor came across unforced and honest), we can’t help but be invested in what might happen to them.

The picture’s far from perfect. I’d like to have seen a more grounded form of witchcraft taking details from actual rituals — but I suppose Cregger would leave himself open to accusations of cultural appropriation or, worse, demonizing a niche sect (speaking strictly for myself, I’d love the publicity). The director strains credulity when he asks us to believe Alex can move around town unnoticed, buying bags of canned soup without his dad taking him in the family car (which he’d previously been seen doing), and stretches credulity even further when the police don’t dig deeper into Alex’s family circumstances considering he’s the only student left. I’d also note that while Cregger is deft at introducing and developing characters (even better, I submit, than ostensible role model Paul Thomas Anderson), he still hasn’t mastered the knack of granting them a suitable exit — Marcus in particular feels poorly served (Justine could at least pause a moment to mourn him, he seemed like a real if reluctantly supportive ally to her); same with Paul and James, who deserve to be in each others’ arms, if not at each others’ throats.

The film does have its memorable imagery, an essential for good perhaps great horror — mainly the way the kids flit into the night with arms spread out like, as someone pointed out, winged sycamore seeds, or, better yet, like cruise missiles dropped and winging their way to the preassigned target. I like the way it uses long sustained shots and unsettling staging and framing — motionless figures in the dark glimpsed at from the top of a stair for example — to ratchet up suspense. The film isn’t as off-kilter quirky visually as Osgood Perkins’ Longlegs — the flavor of some of Perkins Jr.’s compositions still linger on the tongue — but Cregger does show ability.    

As the crucial Gladys, introduced late in the story (chillingly foreshadowed in one of Archer’s dream sequence), Amy Madigan goes full-on batshit complete with caked makeup and Stephen King clown fright wig — she’s clearly channeling Ruth Gordon’s Minnie Castevet in Rosemary’s Baby but can’t quite capture Gordon’s sly sense of humor (ambitious noteworthy attempt, though). I do think her ultimate fate is fully hilariously realized (and as for the complaint that the finale is more comedy than horror — Oh come on: Sam Raimi, John Carpenter, Wes Craven, George Romero, Mario Bava, James Whale. Show a little intellectual flexibility).

Maybe the core performance of the film is Cary Christopher’s Alex — his story explains what’s going on and if you don’t fall for his character or feel his predicament the whole picture falls flat. I recognize Alex — have worked with him or kids like him before, the youth who finds himself in over his head, forced due to circumstances to step up and act as surrogate parent to people he cares for, sometimes operating below the radar of society. Kids like Alex are amazing — the strength, the resilience they show — but victims too; the term we have for them are “parentified children” and it’s not a (how do you put it?) superpower but a sustained and painful trauma, with lasting consequences; kids aren’t meant to be parents, they’re meant to be kids, to be as goofy as they need to be before sloughing it all off (or at least most of it) and assuming the mantle of responsibility. Cregger, to his credit, doesn’t cure everyone with a miraculous wave of the wand; some don’t start speaking again till years after, others are institutionalized — but what happened to Alex, you know from the look on his face, will stay with him for the rest of his life.

Ayala Malls to upgrade three Cebu malls with P12.7-B investment

AYALA CENTER CEBU — AYALA MALLS

LISTED property developer Ayala Land, Inc. (ALI) said its retail unit Ayala Malls will invest P12.7 billion to develop and renovate three Cebu-based malls, betting on rising consumer demand in Central Visayas.

The investment forms part of ALI’s plan to “reimagine” its malls, with phased rollouts between 2025 and 2028.

It covers three Ayala Malls in Cebu: Ayala Center Cebu, Ayala Malls Central Bloc in the Cebu IT Park, and Ayala Malls Gatewalk in Mandaue.

“Cebu is the economic heart of the Visayas, home to a rapidly growing urban population, a robust middle class, and rising consumer spending,” Ayala Malls Chief Operating Officer Paul Birkett said in a statement on Thursday.

“Cebu (and the larger Visayas region) is experiencing unprecedented growth, and our substantial investment reflects not only our strong confidence in the region but demonstrates our commitment to elevating retail standards and ensuring that we remain relevant, resilient, and impactful for decades to come,” he also said.

Ayala Malls has a diversified portfolio in Cebu, serving targeted market segments. Its flagship Ayala Center Cebu is positioned as the lifestyle and luxury destination, catering to high-value consumers and international brands.

Ayala Malls Central Bloc is a dynamic hub for young professionals and the business process outsourcing workforce in the Cebu IT Park.

Lastly, Ayala Malls Gatewalk, a 17.5-hectare master-planned mixed-use estate, is expected to open in the last quarter of 2026.

Located within Gatewalk Central, Mandaue, the mall will have a gross leasable area (GLA) of 55,000 square meters (sq.m.) and 350 merchant spaces. It is designed as a vibrant entertainment and dining destination, housing creative hubs, gaming zones, and a massive, design-forward food hall.

Ayala Malls has grown its strategic footprint across the Visayas, reflecting long-term confidence in the region’s growth potential. Alongside its Cebu developments, Ayala Malls Capitol Central is in Bacolod City, while Shops at Atria is in Iloilo City.

Last month, Ayala Malls announced a P17.5-billion budget for its mall renovation program, with plans to add 700,000 sq.m. of new GLA over the next five years.

“Our malls are not merely commercial centers; they are integral components of our mixed-use estates and critical drivers of local economies,” Ayala Malls said.

ALI shares on Thursday fell by 1.47%, or 40 centavos, to close at P26.75 apiece. — Beatriz Marie D. Cruz

Warner Bros., Viu launch new streaming bundle by Q4

WARNER BROS. Discovery and Viu are set to offer a streaming bundle that offers HBO Max and Viu services in a single subscription by the fourth quarter.

“Our partnership with Warner Bros. Discovery is an exciting step forward in our promise to continually enhance Viu’s entertainment options and meet our viewers’ evolving tastes,” said Viu Chief Executive Officer and PCCW Media Group Managing Director Janice Lee in a statement on Tuesday.

“By combining HBO Max’s Hollywood content with Viu’s Asian favorites in a single bundle subscription, we’re offering more choice in shows, easier access to diverse content, and greater value across a wider range of programming,” she added.

The bundle is set to be launched across Indonesia, Malaysia, the Philippines, Singapore, and Thailand and will be available for direct purchases via HBO Max and Viu’s websites by the fourth quarter.

James Gibbons, president of Asia Pacific at Warner Bros. Discovery said that HBO Max bundles have proven consumer and business benefits in other parts of the world.

“This new streaming offering will provide strong entertainment value for consumers across Southeast Asia and help drive subscriber growth and stronger retention,” he said. “With access to two complementary and world-class collections in a single subscription, local fans can enjoy even more choice — from premium Hollywood movies and series to standout local Asian content,” he added.

Subscribers can access content from each service separately, and content, features, and device compatibility will vary by service. Additional details will be shared in the coming months.

“The bundle marks the first of its kind across multiple markets in Asia Pacific and will bring together the best of Hollywood content and premium Asian entertainment,” Viu said.

Through the bundle, subscribers can watch upcoming premieres and the breadth and depth of the complementary offerings of HBO Max and Viu.

These include global brands such as HBO, Harry Potter, Game of Thrones, and the DC Universe, as well as Viu Originals, popular Korean and Chinese dramas, and local productions from Southeast Asia.

“On HBO Max, fans can access blockbusters including A Minecraft Movie and Sinners, beloved franchises such as Friends, as well as HBO Original series such as The Last of Us and The White Lotus,” Viu said.

“On Viu, subscribers can stream celebrated reality series, such as Running Man and 2 Days 1 Night, Chinese dramas like The Immortal Ascension and Love Has Fireworks, and upcoming Viu Original Korean dramas, My Youth and Taxi Driver 3,” it added. — Justine Irish D. Tabile

Metro Retail profit jumps to P132.9M in Q2 on higher sales, store openings

METRORETAIL.COM.PH

LISTED Metro Retail Stores Group, Inc. said its second-quarter (Q2) net income more than doubled to P132.9 million from P50.1 million a year ago, driven by higher sales and store openings.

Net sales for the April-to-June period increased by 6.6% to P9.9 billion, supported by contributions from new stores, Metro Retail said in a regulatory filing on Thursday.

The company recently expanded its footprint to 76 stores with the opening of five new supermarkets in Talisay City and Liloan in Cebu, Ligao City and Guinobatan in Albay, and Gubat in Sorsogon.

Same-store sales growth reached 1.7%, a turnaround from the 1.7% decline in the first quarter.

For the first half, Metro Retail grew its net income by 45.7% to P146.3 million, while net sales rose 4.4% to P18.8 billion.

Food retail sales increased 2.8%, driven by the fresh category and contributions from supermarkets opened over the past year. General merchandise sales rose 8.8%, supported by back-to-school and home product sales.

Operating expenses also climbed to 21.4% of sales from 20.3% a year ago, due to higher utility rates in the Visayas region and increased labor costs.

“Our strong second-quarter results, highlighted by net income that more than doubled and earnings before interest, taxes, depreciation, and amortization with 47% growth, demonstrate our strategic execution and continued focus on profitability, expanding our network and enhancing product offerings that resonate with our customers’ preferences,” Metro Retail President and Chief Operating Officer Joselito G. Orense said.

“We are encouraged by the recovery in same-store sales and the significant growth in margins, which collectively establish a solid foundation for the remainder of the year,” he added.

Metro Retail shares were unchanged at P1.17 per share on Thursday. — Revin Mikhael D. Ochave

Stuff to Do (08/15/25)

Get a taste of Asia at Shangri-La Plaza

THIS MONTH, Shangri-La Plaza is taking mall visitors on a flavor trip around the region with The Marketplace Asian Fair. A celebration of food, cultures, and colors, it is ongoing until Aug. 17 at the Grand Atrium. Shoppers will find well-loved Asian brands and new products with deals and exclusive discounts. There is also a lineup of activities ranging from a live Taiko drum and Filipino cultural performance to informative demos such as a matcha ceremony and sushi rolling. Visitors get a chance to Snap & Shop while at the fair with life-size 3D art displays featuring photo spots across Asia. Meanwhile, Sorsogon will be the focus with “GoConut” at the Grand Atrium from Aug. 28 to 31. The trade fair will highlight the province’s vibrant coconut industry and its array of sustainable and innovative products. For updates and inquiries, follow Shangri-La Plaza on Facebook at www.facebook.com/shangrilaplazaofficial and on Instagram @shangrilaplazaofficial.

Party with viral OPM artists in benefit concert

A NEW WAVE of Original Pilipino Music (OPM) artists will be coming together for a one-night only concert for a cause. For the first time, Cup of Joe, Amiel Sol, Earl Agustin, and Maris Racal will unite on stage in YUGTO: Buhay at Pag-Ibig, slated for Aug. 15 at 8:30 p.m. at the Newport Performing Arts Theater, Pasay City. Tickets are now available at the Helixpay website, http://yugto.helixpay.ph, priced from P2,000 to P7,000.

View a critique of Martial Law through dance

THE DANCE production Alimuom sa Takip-Silim, based on research-driven choreography, will highlight the social injustices of the Martial Law era. The four-act drama will be staged beginning Aug. 15. It is presented by Unfolding Productions, a group of young artists from the dance program of the De La Salle-College of Saint Benilde (DLS-CSB). The public can see the production on Aug. 15 at 4 p.m. and Aug. 16 at 1 p.m. It will be staged at the 5th Floor Theater of the Benilde Design + Arts Campus, 950 Pablo Ocampo St., Malate, Manila.

Attend a performance of A Portrait of the Artist as Filipino

ARETÉ ATENEO is producing a Filipino translation of Nick Joaquin’s classic A Portrait of the Artist as Filipino, entitled Quomodo Desolata Es? The translation was written by Jerry Respeto and Guelan Varela-Luarca who is also the director. The play is set in Intramuros just before World War II and follows two sisters as they see the world change around them. It stars Gan Pangilinan, Delphine Buencamino, Omar Uddin, Vino Mabalat, and John Sanchez. There will be performances until Aug.17 at the Hyundai Hall, Areté, Ateneo de Manila University in Quezon City. Tickets range in price from P999 to P1,499 and are available via Helixpay.

Visit Lucky Chinatown’s Eastwave Asian Fest

THE Eastwave Asian Festival 2025 is ongoing at Lucky Chinatown Mall in Binondo, Manila, until Aug. 17. This is a showcase of local entrepreneurs that sell regional crafts, snacks, and specialty goods. Meanwhile, ongoing until Aug. 30, the Asia Fandom Fest will assemble K-pop fans selling photocards and other merchandise dedicated to Asian stars, all in one marketplace. On Aug. 30, P-pop artists and rising local acts will have a meet-and-greet experience called “StanZone,” with the lineup set to be announced soon. Finally, on Aug. 31, the Asia Pulse Festival concludes the month-long celebration with a high-energy dance cover showdown featuring some of the best Asian pop dance crews in the city.

Go to the circus at Side Show: The Musical

ONGOING until Aug. 17 at Circuit Makati’s Power Mac Center Spotlight is the Sandbox Collective’s production of Side Show: The Musical, which revolves around the life of conjoined twins and their fellow “freaks” who live in a carnival in 1930s America. The cast features Jon Santos, Tanya Manalang, Molly Langley, and Marvin Ong. Tickets are available through Ticket2me.

Learn about World War II with Ambeth Ocampo

THE Filipinas Heritage Library, in partnership with Purefoods Deli, presents “Cultural Casualties of World War II,” a lecture by historian and scholar Dr. Ambeth R. Ocampo. The 1945 Battle for Manila left deep scars not only on its people but also on the city’s cultural fabric. Historic sites and structures were reduced to rubble. Irreplaceable works of art, rare books, manuscripts, and invaluable records of the past were lost forever. In this lecture, Mr. Ocampo explores the cultural cost of war, examining both tangible and intangible losses. These include those captured in the poignant postwar paintings of National Artist Fernando Amorsolo. The lecture will be held on Aug. 16, 1:30-3:30 p.m., at the Ayala Museum, Makati Ave., Makati. This is one of The Roderick Hall Memorial Lectures 2025. Tickets range in price from P150 for students to P300 for regular tickets. They come with free one-day access to the Filipinas Heritage Library valid until Sept. 16.

Learn chess and Scrabble

THE Chess and Scrabble Club will be offering free tutorials in Quezon City this weekend. Taking place at the upper ground floor of Farmers Plaza in Araneta City, Cubao, Quezon City on Aug. 16 and 17, those interested in learning or in improving their skills in either chess or Scrabble can come and join in. Open to all levels, the sessions aim to provide a fun and supportive space to explore both games.

Watch the classic film A Portrait of the Artist as Filipino

THE CLASSIC Filipino film A Portrait of the Artist as Filipino, written by National Artist for Literature Nick Joaquin and directed by National Artist for Theater and Film Lamberto Avellana, will be screened at the Metropolitan Theater in Manila on Aug. 17, at 9:30 a.m. It is presented by the National Commission for Culture and the Arts (NCCA). Tickets are available via https://www.ticketmelon.com/met/mhnsf-a-portrait-of-the-artist-as-filipino-1965/.

Listen to Plume’s new single

ALTG Records has announced the release of “Panaginip,” the latest single from rising singer-songwriter Plume. The track, which pairs a groove with heartfelt storytelling, is now streaming on all major platforms. It is written and composed by Plume and brought to life through the arrangement of David Generato.

Grab a copy of Rio Alma’s new poetry book

THE latest book of poetry by National Artist Virgilio Almario (aka Rio Alma) will be out early next week. Titled Kanta kay Josefina, translated into English by poet Michael de Lara Co, with illustrations by Celeste Lecaroz, it will be launched at the Pista ng Sining sa Ferndale at Ferndale Homes, Quezon City, on Aug. 19. Other poetry books will be found there as well, as part of Quezon City Day and Araw ng Wika. Pista ng Sining will also feature the opening of an exhibit of artworks by resident-artists and the inauguration of Silid Aklatan, a library of literary collections for the youth. It takes place from 4 to 6 p.m. at the Ferndale Homes Clubhouse and will be open to the public.

Rock out with Chito Miranda at Hard Rock Cafe

ICONIC OPM frontman Chito Miranda is set to perform on Aug. 20 at Hard Rock Cafe Manila at Conrad S’Maison, Mall of Asia, Pasay City. The show starts at 9:30 p.m. and will include Parokya ni Edgar songs, with an acoustic set. Tickets are available for P2,500. For reservations, call (02) 8990-9809.

Get a new Filipino cookbook

THE book launch for Ang Kuwento ni Putli Mandi is set to take place at the Quantum Skyview, Upper Ground B, Gateway Mall 2, Cubao, Quezon City on Aug. 20. Known for championing regional flavors and heritage cooking, chef Miguel Cabel Moreno wrote the book to shed light on the powerful narrative of cuisine rooted in Filipino culture. It is part of his advocacy for cultural preservation through both food and literature.

Check out Gloc-9, Abaddon’s new rap collaboration

AWARD-WINNING artist and rap phenom Gloc-9 has just dropped his latest single, “BLGBGN,” featuring fellow rapper Abaddon. This new track continues Gloc-9’s monthly releases throughout the year. This latest one is an empowering song that encourages listeners to embrace life to the fullest.

Kaizenvest III injects P825M into PHINMA Education

PHINMA.COM.PH

PHINMA CORP.’S education unit PHINMA Education Holdings, Inc. secured an P825-million investment from Rise Edu Pte. Ltd., an investment vehicle managed by education-focused private equity fund Kaizenvest III.

The investment, received on Aug. 13, is part of an investment agreement signed by PHINMA Education, Kaizenvest III, and Phoenix Investments II Pte. Ltd. in May last year, PHINMA Corp. said in a regulatory filing on Thursday.

The primary transaction under the agreement involved the issuance of P4.5 billion worth of newly issued shares by PHINMA Education.

As part of the agreement’s secondary transaction, KKR-managed funds will purchase all PHINMA Education shares formerly owned by the Asian Development Bank, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V., and Kaizen Private Equity II Pte. Ltd., which had invested in the company in 2019.

PHINMA Education now holds 75% of the total investment after the P825-million remittance from Kaizenvest III and the P2.52 billion received from KKR in October last year.

Phoenix Investments is an investment vehicle of funds managed by KKR, while Rise Edu Pte. Ltd. is an investment vehicle of funds managed by Kaizenvest, an education-focused private equity fund targeting emerging markets in South and Southeast Asia.

PHINMA Education, a 63.93%-owned subsidiary of PHINMA Corp., holds investments in the education sector. The company previously said it is eyeing expansion into Vietnam by 2027.

PHINMA Corp. shares dropped by 3.84% or 68 centavos to P17.02 apiece on Thursday. — Revin Mikhael D. Ochave

Enriching the workforce through healthcare

In today’s fast-paced and rapidly changing work environment, health benefits are no longer considered perks. The link between productivity and healthcare has become clearer. With a demanding work environment, today’s workforces expect equivalent care. Health benefits are now perceived as essentials for an improved retention and overall business performance among workforces.

“When employees feel genuinely cared for, their loyalty and performance naturally grow,” Angelita Trinidad, first vice-president of the Customer Care Department at Cocolife, told BusinessWorld in an interview.

Angelita Trinidad, Customer Care Department first vice-president, Cocolife Healthcare

Acknowledging such value of healthcare to the workforce, ‎Cocolife has taken strides in making health program offerings human-centered, more inclusive, and more affordable for employers and employees alike.

Medical utilization previously leaned more towards reactive care, where employees sought treatment only when unwell. Cocolife, however, observes that this trend has changed.

Beyond basic hospitalization services, Filipino employees have now integrated preventive care into their priorities, as well as mental health support and utilizing digital health consultations for they have become more health-conscious than ever.

“Our desire is to help businesses use healthcare coverage as a strategic edge to improve productivity, satisfaction, and retention,” Ms. Trinidad said.

Since the healthcare market is cost-sensitive with unpredictable utilization behaviors, fast increasing medical inflation, provider rate disparities, and accessibility in underserved areas, Cocolife offers flexible and customizable plans to ensure a workforce’s needs, whether small- or large-scale. Plans range from comprehensive executive packages to essential benefits for rank-and-file employees that can be adjusted according to the client’s preferences, such as financial standing.

“At Cocolife, we recognize that every organization is unique, with its own set of needs and priorities,” Ms. Trinidad highlighted. “That’s why we strive to offer flexible HMO plans that can be thoughtfully adjusted to suit different employee groups and budgets. We believe in working alongside our clients to create options that fit their specific situations while maintaining access to important healthcare services.”

‎Furthermore, Cocolife acknowledges the challenges of small businesses in finding healthcare providers that fit their limited budget. It addresses such challenges with cost-effective entry-level options that do not compromise the essentials. These options include coverage for consultations, hospitalization, and emergency care.

“These entry-level plans are thoughtfully designed with optional add-ons, allowing small enterprises to offer meaningful benefits that support employee well-being — while staying aligned with their financial goals,” Ms. Trinidad said.

Cocolife couples these tailor-fit plans with broader and more efficient access to healthcare.

“To help ensure broader accessibility, we’ve been gradually expanding our provider network to include more primary and secondary healthcare facilities,” Ms. Trinidad said. “We also focus on improving our systems and digital tools, making it easier for both companies and employees to navigate the process, helping to manage costs without adding unnecessary complexity.”

This is to guarantee that members can access their services anytime, anywhere.

Additionally, with mental health services becoming a rising demand, Cocolife is increasingly integrating such services into their plans. These services include psychiatric consultations, counseling sessions, and stress management programs.

“We understand that health coverage is one of the top priorities of employees today, so we continuously enhance our offerings to reflect current healthcare trends — such as mental health support, digital healthcare access, and wellness programs,” Ms. Trinidad shared.

This commitment is reflected in Cocolife’s partnership with Doctors Anywhere, Hi-Doc and E-Konsulta, offering teleconsultation services available 24/7. Additionally, Cocolife’s telecommunication system for its Medical Helpline is significantly improved by its continued investments in advanced technology. Mobile app services, real-time LOA processing, and a digital member experience are also made available through the Cocolife Healthcare Virtual Card App. Cocolife notes that this is in alignment with national initiatives like PhilHealth’s mental health coverage being more standardized and universal.

Moreover, Cocolife seeks to further transform its digital services for a much more user-friendly interface that is appropriate for all ages.

‎These digital initiatives are testament to Cocolife’s commitment to making healthcare not only accessible, but also convenient in ways that reflect genuine care and compassion while being innovative.

“We are dedicated to transforming our digital platforms to deliver a seamless, user-friendly experience for all ages,” Ms. Trinidad shared. “At the same time, we are broadening our health and wellness programs, and introducing personalized care packages based on employee demographics and claims experience.”

“These efforts support our goal of keeping Cocolife Healthcare a reliable and strategic partner in the well-being of employees and their families,” Ms. Trinidad added.

With a mission to make healthcare inclusive and more aligned with the ever-changing needs of both businesses and employees, Cocolife is dedicated to making sure the Filipino workforce is well-sustained to remain productive.

For more information and inquiries, you can visit www.cocolife.com.

 

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BAP seeks legislative reforms to modernize PHL banking sector

REUTERS

THE BANKERS Association of the Philippines (BAP) is pushing for changes to laws on mandated credit and deposit secrecy to make these more relevant to current times and help modernize the banking sector.

“Mandatory credit lending policies and rigid bank secrecy laws, once well-intentioned, have become constraints in today’s labor-driven financial marketplace. The BAP is taking decisive steps to advocate legislative reforms, confronting inertia head-on. By modernizing these laws, we create a fertile ground for tech-driven analytics, smart risk management, better credit assessment, and a more competitive and transparent banking sector,” BAP President and Bank of Philippine Islands (BPI) President and Chief Executive Officer Teodoro K. Limcaoco said in a speech at The Asian Banker’s Finance Philippines 2025 forum held on Thursday.

Mr. Limcaoco said laws that require banks to allot certain percentages of their loan book to the agriculture sector as well as micro, small, and medium enterprises (MSME) may no longer be relevant in the current landscape amid the increase in financial institutions that specifically target these underserved markets.

Bangko Sentral ng Pilipinas (BSP) data have shown that most lenders have failed to meet these credit quotas. The central bank itself has acknowledged that most banks prefer to pay the penalties for not meeting these requirements instead of lending to sectors that they consider risky.

“I think that’s something that we need to look at whether that’s still useful today given the proliferation of many institutions that are now lending to different areas… Microfinance has become big, and then you’ve got all these fintech (financial technology) lenders and e-wallets that are lending,” he told BusinessWorld on the sidelines of the event.

“Credit allocation should be something that is based on an institution’s risk profile [and] desire to penetrate a certain market. It’s hard to mandate it.”

He added that expanding credit access depends on the banking system’s strength.

“What we need to look at going forward is how you strengthen the banking system, make sure that credit is available to everyone who’s deserving of it, how you build an infrastructure so that there’s information, so that credit is based on your risk,” Mr. Limcaoco said.

As for bank deposit secrecy, he cited as an example the Anti-Financial Account Scamming Act (AFASA), under which the BSP can now investigate and inquire into financial accounts involved in prohibited acts or offenses under the law, which include money mule activities and social engineering schemes, mass mailers, or human trafficking, as well as other offenses such as opening a financial account under a fictitious name or using the identity or identification documents of another person.

“There are some refinements that we’re proposing. It’s more just making sure that the banks are able to comply with the requirements of AFASA and not get into trouble with things like deposit secrecy because there are certain items that require the banks to act quickly, and sometimes it might be at risk to the banks, so we just want some clarity… on the process,” Mr. Limcaoco said.

“Right now, I think there’s no clear process how AFASA will be implemented in terms of being able to report potential fraud, and we’re proposing, for example, maybe let’s consider a central place where you report and then they’re the ones who coordinate all across.”

The BSP has also been pushing for amendments to the Philippines’ decades-old bank deposit secrecy law to boost its oversight of the financial sector.

REGIONAL STANDARDS
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the rationalization of laws on mandated lending and bank secrecy has been long overdue as these are no longer in line with regional standards, especially as financial markets become more integrated.

Reviewing these would help determine “if these regulations are still relevant and would require some adjustments or tweaking in view of new realities in the banking industry and overall economy,” Mr. Ricafort said in a Viber message.

“On deposit secrecy and fraud reporting under AFASA, BAP’s call to revisit deposit secrecy laws is timely and necessary. While depositor privacy is important, there must be a workable legal framework that enables banks to flag and share fraud-related data without risking legal exposure. The central bureau proposal may offer a more efficient, standardized approach than bilateral arrangements under AFASA, especially for detecting organized financial fraud,” John Paolo R. Rivera, a senior research fellow at the Philippine Institute for Development Studies, added in a Viber message.

However, as for reviewing laws on mandated credit to underserved sectors, he said that while relaxing these rules may reduce risks for banks in the short term, “the bigger issue is improving how banks assess and manage these risks.”

“Many MSMEs and agri borrowers remain unbanked or underbanked, and fintechs, while helpful, cannot fully replace the role of banks. Instead of scrapping the mandates, what is needed is reform such as better credit guarantee systems, digital credit scoring tools, and public-private risk sharing mechanisms,” Mr. Rivera said.

“Simply erasing the mandates could widen funding gaps and undermine inclusive growth.” — Aaron Michael C. Sy

Where eco-friendly meets prestige

wirestock | Freepik

What Filipinos define as a luxury car varies depending on many factors, such as their personal preferences, financial capacity, and lifestyle aspirations. For some, it’s the elegant interior of a sedan with premium leather and a state-of-the-art infotainment system. For others, it is the intimidating exterior of a full-sized sport utility vehicle with powerful performance, cutting-edge safety technology, and the versatility to handle both city streets and provincial roads with ease.

Whatever one’s preference might be, it cannot be denied that the luxury market in the Philippines, while still a niche compared to mass-market automotive segments, has become a fixture in the Philippine automotive scene due to the country’s strong economic performance, growing affluence, and stronger demand for prestige brands.

Latest data on the Philippine luxury car market saw a notable increase in sales, surging by 37% in 2023, with total sales climbing from approximately 3,208 units in 2022 to 4,396 units the following year. The substantial growth outpaced the overall growth of the automotive industry that year, showing that the appetite for premium car brands in the country is growing. Lexus, BMW, and Mercedes-Benz dominated the segment, collectively selling 3,861 units and accounting for nearly 88% of total luxury car sales.

The same trend can be observed for the global luxury car market. According to online data firm Statista, the luxury car market is anticipated to generate a staggering revenue of $26 billion by the year 2025, with the average price per unit projected to be at around $120,000. Additionally, the firm also forecasts a steady annual growth rate of 0.89% in the next four years, leading to an estimated market volume of US$27 billion by 2029.

Perhaps, the biggest reason why the luxury car market has been on an upward trajectory in recent years is its ability to maintain value. Global consultancy firm McKinsey and Company noted that while car buyers “prioritize the driving experience and gain great enjoyment from it,” they also expect their vehicles to retain, or even increase, in value. Luxury brands, in particular, benefit from this trend because high-quality materials, meticulous craftsmanship, and stronger resale values make their vehicles highly desirable even years after their initial release.

Brand loyalty also plays a big role in the growth of this segment. Lexus continues to attract customers with its reputation for reliability and customer service, BMW appeals to those seeking sportier driving dynamics, and Mercedes-Benz maintains its appeal among buyers who value tradition and understated elegance. Beyond the top three, niche brands like Porsche, Audi, Land Rover, and Volvo have carved out spaces catering to specific tastes as well.

Another factor fueling the market is the increasing availability of hybrid and electric models from luxury brands. Lexus, for instance, introduced the fully electric RZ 450e in 2023, while BMW expanded its i-series lineup with the i4 Gran Coupé. Mercedes-Benz has also made significant strides with its EQ range, offering options like the EQA, EQB, and EQE SUV.

Mercedes-Benz Philippines, distributed by IC Star Automotive Inc. in the country, noted in a statement that “plug-in hybrid vehicles (PHEVs) are gaining popularity in the Philippines as more people seek environmentally friendly alternatives to traditional gasoline-powered cars.” The premium brand singled out PHEVs’ potential to significantly lower environmental impact, especially when daily drives can be completed using battery power alone, as one of key advantages of this type. 

Among the latest entries strengthening Mercedes-Benz’s position in the electrified luxury segment are two highly anticipated plug-in hybrids released a few months ago: the all-new E-Class Plug-in Hybrid and the GLC 350e Plug-in Hybrid. 

Both the all-new E 350e and the GLC 350e embody the brand’s dedication to providing the perfect blend of environmental stewardship, cutting-edge technology, exhilarating performance, and classic modern luxury. These PHEVs seamlessly integrate advanced electrification with the distinctive elegance and dynamic performance that define Mercedes-Benz vehicles. 

The return of an icon, the all-new Mercedes-Benz E-Class Plug-in Hybrid, is priced at 5,490,000. The model brings back timeless elegance with the exclusive exterior through its Mercedes star mounted on the bonnet. The E 350e’s sculpted contours, confident stance, and signature Mercedes star preserve the beloved model’s prestige while keeping up with the hybrid technology present in cars today for professionals and business leaders who seek sustainability and luxury. 

At the heart of the cabin is the impressive MBUX Superscreen, an immersive display concept that redefines digital luxury. The screen combines a 14.4-inch central touchscreen with a 12.3-inch passenger display under a single sleek glass panel. Additionally, the vehicle is equipped with the Burmester surround sound system, composed of 17 speakers, 4 exciters, and 730 watts. The system offers a 4D sound massage and Dolby Atmos playback for an unparalleled audio experience. 

The E-Class PHEV is designed to integrate electrification effortlessly into everyday life. It offers on-board AC charging of up to 11 kilowatts (kW), ensuring quick and efficient recharging whether at home or in public charging stations. The vehicle is compatible with Type 2 AC sockets and comes equipped with a charging cable for domestic outlets. 

Similarly, one of the brand’s well-loved SUV models, the GLC 350e PHEV, now enters a new era of electrification and is available in Polar White, Verde Silver, and Graphite Grey colors. With its sporty and sophisticated exterior, refined interior, powerful performance, advanced technology, and environmentally conscious features, the model is truly the SUV of choice for Filipinos choosing the luxurious urban and suburban lifestyles in the Philippines.  

Versatility meets elegance in the GLC 350e’s spacious interior, offering the largest load compartment in its segment. With the rear seats folded flat, the SUV provides up to 1530 liters of space, which is perfect for weekend escapes, business trips, or everyday errands. With 470 liters available in the cargo position, it proves that functionality and luxury can go hand in hand, every day. 

The GLC 350e is also equipped with the latest generation of MBUX (Mercedes-Benz User Experience) for a seamless digital experience. MBUX Navigation Plus supports intelligent route planning, while Apple CarPlay, a wireless system, and the USB Package Plus (with second-row ports) ensure connectivity and convenience for all occupants. Additionally, the model’s 4MATIC all-wheel drive and an Off-Road driving program ensure confident handling across a range of terrains. 

 At the heart of its advanced hybrid system is a turbocharged engine, delivering a total output of 204 hp, 320Nm of torque, and an all-electric range of more than 100 kilometers, enabling daily commutes and city drives emission-free. Drivers can further enjoy the Transparent Bonnet feature, which provides a virtual view beneath the vehicle to enhance visibility when navigating steep ramps, rough roads, or narrow spaces. — Jomarc Angelo M. Corpuz

Impact of US tariffs, trade tensions on Asia-Pacific banks to be manageable

A 3D-printed miniature model of US President Donald J. Trump and the US flag pattern with the word “tariffs” are seen in this illustration. — REUTERS/DADO RUVIC/ILLUSTRATION

THE IMPACT of higher US tariffs and ongoing global trade tensions on banks in Asia-Pacific, including the Philippines, is expected to be “manageable” as they have ample liquidity and buffers against shocks, Moody’s Ratings said.

The credit rater said in an Aug. 13 note that developments in global trade dynamics amid rising protectionism among large economies and their potential impact on growth would be negative for Asia-Pacific (APAC) banks.

“Most APAC banks are likely to face negative effects from ongoing trade tensions, including slower economic growth and trade disruptions. Uncertainty surrounding the interpretation and implementation of any final agreements will weigh on consumer and business sentiment, and risk further dampening loan growth,” Moody’s said.

“Nonetheless, most APAC banks have sufficient buffers to absorb loan losses and they maintain stable funding and liquidity. Meanwhile, government measures aimed at supporting affected businesses, coupled with interest rate cuts, will help contain increases in new impaired loans,” the credit rater added.

On Aug. 7, the US began imposing higher “reciprocal” tariffs on most of its trading partners. A 19% levy was slapped on goods from the Philippines, which is slightly lower than the 20% the US had threatened to impose, but higher than the 17% announced in April.

This is at par with the rate imposed on several members of the Association of Southeast Asian Nations, namely Indonesia, Cambodia, Malaysia and Thailand.

However, the Philippines’ exports to the US only made up 3% of gross domestic product in 2024, Moody’s noted, which is low compared to the US exports of “connector” economies like Vietnam and Cambodia. 

“Most of the economies that had not reached a deal with the US by the Aug. 1 deadline generally received lower tariffs compared with rates announced in April and May. However, the US’ effective tariff rate of 18.6%, as estimated by the Yale Budget Lab, is a little higher than the 10%-15% assumption that underpinned our global growth forecast in May, and much higher than 2.4% at the beginning of the year,” Moody’s added.

“Sharply higher US tariffs will drive realignments in global trade and investment flow, heightening risks to economic growth.”

It added that US President Donald J. Trump’s plan to impose 100% tariffs on imported semiconductors and chips also adds another layer of uncertainty for APAC economies.

Moody’s said that while banks in the APAC region have large exposures to affected sectors like autos, manufacturing, and technology, credit risk as a result of higher tariffs will likely be limited as these lenders’ exposures to firms that are focused on exporting to the US is “modest.”

“In addition, the final tariff rates for most APAC economies are now lower than initially announced in April 2025. As a result, the impact of tariffs on asset quality of banks will depend on the relative competitiveness and the ability of suppliers to absorb part of the tariff costs,” Moody’s said.

Redirected low-cost exports from China as it looks to markets outside of the US may also result in increased competition for domestic manufacturers in Asia-Pacific countries, which could pose asset quality risks for banks.

“Small and medium enterprises will be the most vulnerable to these challenges associated with tariffs as they often have less room than large conglomerates to absorb additional costs or to pass them on to customers,” the credit rater said.

It added that the easing monetary policy stance of central banks in the region may pressure banks’ margins, which would affect their profitability.

The Bangko Sentral ng Pilipinas (BSP) has lowered borrowing costs by a cumulative 125 basis points (bps) since it began its easing cycle in August 2024.

BSP Governor Eli M. Remolona, Jr. has said that a third straight rate cut is “quite likely” at the Monetary Board’s next meeting on Aug. 28.

The BSP chief also said that they are expecting to deliver only two more rate cuts this year, including the one they could implement this month. A third reduction is “unlikely” as it would lead to a smaller output gap, he said.

After this month’s review, the Monetary Board will have two more policy meetings for the remainder of the year.

Philippine banks’ combined net income grew by 4.14% year on year to P198.14 billion in the first half, the latest BSP data showed, mainly driven by increased loan volumes that helped make up for narrowing interest margins due to the central bank’s policy easing cycle. — BVR

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