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ALLIANCE GLOBAL Group, Inc. (AGI) has set a P63-billion capital expenditure (capex) budget for 2025, lower than the P68 billion spent in 2024, following weaker performance that year, the company said on Tuesday.
Of the total capex for this year, P50 billion is allocated to listed property developer Megaworld Corp., while P5 billion is earmarked for hotel operator Travellers International Hotel Group, Inc., AGI said in a regulatory filing.
The conglomerate added that P5 billion is for McDonald’s Philippines operator Golden Arches Development Corp. (GADC), with the remaining capex allocated to listed brandy and whisky producer Emperador, Inc.
For 2024, AGI saw a 12% drop in attributable profit to P17.2 billion from P19.6 billion in 2023 due to rising costs.
Total revenue rose by 6% to P223.6 billion from P210.8 billion in 2023. Megaworld accounted for 37% of revenue, followed by Emperador at 28%, GADC at 22%, and Travellers at 14%.
“Strong topline performance buoyed by real estate, hospitality, and quick service restaurant (QSR) segments, although profitability was tempered by rising costs,” AGI said.
For the property business, Megaworld recorded an 8% increase in attributable profit to P18.7 billion as revenue climbed by 17% to P81.7 billion.
The real estate company aims to launch P20 billion worth of projects and secure P130 billion in reservation sales this year.
“Megaworld remained the primary driver of revenue and earnings, bolstered by significant improvements across all segments,” AGI said.
The liquor business led by Emperador posted a 27% drop in attributable profit to P6.3 billion as revenue declined by 6% to P61.6 billion.
“Emperador faced global headwinds that affected international spirits, coupled with challenges in the domestic market; elevated costs and advertising and promotion (A&P) expenses squeezed margins,” AGI said.
For the hotel segment, Travellers saw a 38% decline in attributable profit to P1.2 billion. Total gross revenue fell by 3% to P39.9 billion, while gross gaming revenue (GGR) decreased by 6% to P32 billion.
Non-gaming revenue increased by 13% to P7.9 billion.
“Travellers benefited from strong growth in non-gaming revenues and mass GGR; operating costs and expenses were generally contained,” AGI said.
In the QSR segment, GADC saw an 8% decrease in attributable profit to P2.4 billion. Systemwide sales rose by 9% to P81.4 billion, while sales revenue improved by 12% to P47.9 billion.
“GADC maintained solid sales growth driven by network expansion, but rising input costs and higher A&P compressed margins,” AGI said.
On Tuesday, AGI shares rose by 0.65% or four centavos to P6.16 apiece, while Megaworld stocks improved by 1.69% or three centavos to P1.80 per share, and Emperador shares fell by 1.44% or 18 centavos to P12.28 each. — Revin Mikhael D. Ochave
ABOITIZ POWER Corp. (AboitizPower), through its subsidiary Therma Marine, Inc. (TMI), has broken ground on a 48-megawatt (MW) hybrid energy storage system that will be integrated into its oil-fired power facility in Nasipit, Agusan del Norte.
TMI expects the project to come online in the second quarter of 2026, AboitizPower said in a statement on Tuesday.
This new project follows AboitizPower’s installation of a hybrid BESS at its oil-fired power plant in Maco, Davao de Oro, which began commercial operations in 2022.
“These oil-fired power plants, coupled with BESS technology, play a crucial role in providing fast, responsive power to help balance supply and demand in the grid as an ancillary service,” the company said. “Ancillary services or backup power are support functions that ensure a reliable and stable power system.”
A BESS is a type of energy storage system that uses batteries to store electrical energy from the grid and releases it when needed to augment supply or improve power quality.
“Once completed, the Nasipit BESS project will help enable more grid stability and support the growing share of renewable energy in our grid. It’s a smart solution for a smarter energy landscape,” said AboitizPower Transition Business Group Chief Operating Officer (COO) for Operated Assets Ronaldo Ramos.
AboitizPower Transition Business Group manages and operates the thermal power generation assets of AboitizPower.
AboitizPower serves as the Aboitiz Group’s investment vehicle for power generation, distribution, and retail electricity, as well as related energy solutions.
“In step with the country’s ambitions for its energy mix, AboitizPower aims to grow its portfolio of generation assets with renewables and selected baseload builds,” the company said.
The Philippines aims to expand the share of renewable energy in the power generation mix to 35% by 2030 and 50% by 2040.
At present, AboitizPower holds a portfolio of 4,482.13 MW from its 48 power generation facilities nationwide, based on its website.
For 2025, the company has targeted a capital expenditure (capex) budget of P78.1 billion, with 66% earmarked for its renewable energy portfolio.
The latest capex represents an increase from the P73 billion allocated last year as the company accelerates its investments in energy infrastructure.
“This reflects the company’s thrust to expand its clean energy capacity to 4,600 MW,” AboitizPower said.
In 2024, the company recorded a 2% increase in its net income to P33.9 billion from P33.1 billion a year ago, driven by increased energy sales.
Residential energy sales increased by 13%, while commercial and industrial demand climbed by 5%. — Sheldeen Joy Talavera
SAN MIGUEL Corp. (SMC), through its wholly owned unit SMC MRT-7 Corp., has signed an operations and maintenance services deal with Korea Railroad Corp. (Korail) to fast-track the development of Metro Rail Transit Line 7 (MRT-7).
“With all trains expected to be running and tested by the end of this year, and full operations targeted for 2026, this partnership with Korail brings us closer to our goal,” SMC Chairman and Chief Executive Officer Ramon S. Ang said in a media release on Tuesday.
SMC, through SMC MRT-7, holds the concession to build, operate, and maintain the MRT-7.
Korail, which is South Korea’s national railway operator, will provide the MRT-7 contractor with technical expertise to support the next phase of MRT-7 as it moves closer to full operations.
Korail will also assist SMC in guiding the setup of MRT-7’s core operational systems, safety protocols, and maintenance programs.
This partnership with Korail begins in July this year, SMC said, noting that the six months to one year of collaboration will focus on completing pre-operational requirements and stabilizing key systems.
“Over the long term, Korail will continue to provide technical support for operations and maintenance to help maintain continuity, support knowledge transfer, and apply global best practices throughout the system,” SMC said.
Korail operates South Korea’s extensive rail network, including the high-speed KTX system, metropolitan commuter lines, and intercity services.
SMC is financing the construction and will operate the 23-kilometer commuter rail system after signing a 25-year concession agreement with the government.
MRT-7, which will have 14 stops, will run from Quezon City to San Jose del Monte and is expected to carry 300,000 passengers daily in its first year, and up to 850,000 passengers a day by the 12th year.
The commuter rail line’s stations will be Quezon/North Avenue Joint Station, Quezon Memorial Circle, University Avenue, Tandang Sora, Don Antonio, Batasan, Manggahan, Doña Carmen, Regalado, Mindanao Avenue, Quirino, Sacred Heart, Tala, and San Jose del Monte.
Earlier this month, the Department of Transportation said the city government of San Jose del Monte, Bulacan, agreed in March to the new location of the MRT-7 station in that city, or the San Jose del Monte station.
The Department of Transportation has said the project is experiencing delays due to right-of-way issues in San Jose del Monte, with the agency saying the project may be fully completed between 2027 and 2028.
According to the Public-Private Partnership (PPP) Center, the project was initially targeted for completion in 2019, but this was postponed, with partial operations then set for the fourth quarter of 2021. Neither target was met. — Ashley Erika O. Jose
E-WALLET giant GCash is preparing for a potential initial public offering (IPO), but the timing remains uncertain due to market volatility caused by new US tariffs under President Donald J. Trump, Globe Telecom, Inc. said on Tuesday.
“The Liberation Day added a lot of uncertainty. I think this uncertainty does not stop us from preparing. The goal is to get GCash to a point where we are push-button ready. So, when the market opens up, if we find the window where the valuations and interest we’re getting are appropriate and acceptable, we will push that button for the IPO,” Globe Chief Financial Officer Juan Carlo C. Puno said at the company’s annual stockholders’ meeting on Tuesday.
Globe owns a 36% interest in Globe Fintech Innovations, Inc. (Mynt), which owns the operator of GCash, G-Xchange, Inc.
Globe’s planned IPO for GCash would proceed despite market uncertainties, Mr. Puno said, adding that the public listing would likely happen either this year or next year.
“Whether that happens this year or next year, it really depends on how this whole Liberation Day tariff situation evolves over the next few months,” Mr. Puno said.
Mr. Trump has disrupted the global trade system with his “Liberation Day” tariffs, including a 10% duty on goods from all countries.
The Philippines has been hit with an 18% tariff on its exports to the US, but these, along with most reciprocal tariffs, have been suspended for 90 days.
“What we are doing at Globe and GCash is making sure that all hands are on deck to ensure a successful IPO for GCash,” said Carl Raymond R. Cruz, Globe’s president and chief executive officer (CEO), whose appointment was approved by Globe’s board of directors on Tuesday.
Last month, the Securities and Exchange Commission (SEC) announced that it would allow a lower public float for large IPOs. Under this relief, companies planning to list on the Philippine Stock Exchange with an IPO exceeding P5 billion may seek relief to offer less than the required 20% public float.
However, the SEC clarified that it remains firm on the 20% minimum float requirement, noting that companies availing themselves of this exemptive relief can initially offer 15% provided they commit to conducting a follow-on offering or private placements within the next three years.
Additionally, Mr. Cruz said the company is optimistic about sustaining its growth this year, driven by growth in its core services, with fresh contributions from data center growth.
“In the next few years, not only for data centers, but whenever you put them up, they go hand-in-hand with connectivity. So, it’s going to be a big driver in terms of our enterprise space, which is something that we want to have. It is going to be a big part of the company’s growth,” Mr. Cruz said.
Globe, through ST Telemedia Global Data Centres (STT GDC) Philippines, is expecting the initial activation of its 124-megawatt data center in Fairview within this year.
STT GDC Philippines has seven data centers in the Philippines with a combined IT load of 150 MW, according to information from its website.
For 2024, Globe recorded a core net income of P21.5 billion, marking a 14% increase from P18.92 billion in 2023, driven by higher revenues.
The company reported a combined revenue of P165.02 billion, up 2% from P162.33 billion in 2023, driven by a 4% increase in mobile revenues, which rose to P116.71 billion.
Last year, Globe said its mobile subscribers had grown by 7% year-on-year to 60.9 million, while mobile data users had increased by 3% to 37.4 million.
At the stock exchange on Tuesday, shares in the company closed P8, or 0.4% lower, at P2,014 apiece. — Ashley Erika O. Jose
By Sheldeen Joy Talavera, Reporter
MERALCO PowerGen Corp. (MGen), the power generation arm of Manila Electric Co. (Meralco), has received confirmation from the Department of Energy (DoE) that its 1,273-megawatt (MW) coal-fired power plants are exempt from the 2020 coal moratorium.
“We got the confirmation,” MGen President and Chief Executive Officer Emmanuel V. Rubio said on the sidelines of the BusinessWorld Insights: Energy Security forum on Tuesday.
He was referring to the 1,200-MW Atimonan coal-fired power plant in Quezon province and the 73-MW Toledo coal-fired power plant in Cebu.
However, the confirmation for the Atimonan plant comes with a commitment to no longer use coal as fuel by 2050.
As a result, the company is looking to use ammonia as one of the viable replacements for coal.
Mr. Rubio said the company is now talking to engineering, procurement, and construction contractors for the project.
“Well, today, as we know, developed countries are looking at ammonia. They’re testing co-firing with ammonia, particularly for coal,” he said.
Atimonan One Energy, Inc. (A1E), a subsidiary of MGen, initially proposed to develop a 1,200-MW ultra-supercritical coal-fired power plant for the project site under the environmental compliance certificate issued in 2015.
The company previously dropped its plan and decided to repurpose the coal-fired power project to one that runs on gas.
Based on a project description document submitted to the Department of Environment and Natural Resources, A1E proposed instead to develop a 2,400-MW natural gas-fired combined-cycle gas turbine and a liquefied natural gas terminal with a floating storage unit.
MGen has announced plans to develop the Atimonan facility as a coal plant and expand the 80-MW Toledo facility.
In 2020, the DoE issued a moratorium on the development of new coal-fired power plants.
The government agency earlier clarified that the moratorium does not cover existing and operational coal-fired power generation facilities or any coal-fired power projects considered committed power projects.
Following a thorough review and verification by the Power Bureau, the DoE issues, at the request of a project proponent, a certification that a project is not covered by the moratorium.
TO PROMOTE the Philippines’ literary culture and history, this year’s celebration of National Literature Month will explore Filipino perspectives through poetry.
The National Commission for Culture and the Arts (NCCA), together with the Komisyon sa Wikang Filipino (KWF) and the National Book Development Board (NBDB), mark the 2025 National Literature Month in April with poetry reading sessions, workshops, talks, and contests.
This year’s celebration carries the theme, “Sikad Panitikan: Kultura at Panitikan ng Kaunlaran” (Culture and Literature of Development), in the face of initiatives to improve literacy and literary appreciation among Filipinos.
“The Bicolano word sikad means ‘to cycle in motion’ or ‘to continue,’ in relation to literature. So, when used in the phrase sikad panitikan, we view it from the perspective of intersectionality, where we consider all aspects of culture and literature,” Niles Jordan Breis, head of the committee on literature, said in a press conference on April 15 in Manila and streamed live on Facebook.
The event saw the first of many poetry readings scheduled throughout the month. It was led by Dr. Arthur Casanova, who read his politically charged poem titled “Tutulaan ko ang Araw” (“I Will Recite Poetry to the Sun”), followed by RR Kagalingan with his work “Time Traveling Lasing” (“Time Traveling Drunk”). Literature committee head Mr. Breis also read his unpublished poem “Ang Pisika ng Ilang Maikling Tulay” (“The Physics of a Few Short Bridges”).
FORUMS, COMPETITIONS
To kick off the month-long celebration, KWF hosted a wreath-laying ceremony at the Balagtas Garden in Orion, Bataan, on April 2 (the birthday of Florante at Laura author Francisco “Balagtas” Baltazar). Two other wreaths were simultaneously laid at similar monuments in Pandacan, Manila, and in Balagtas, Bulacan.
The KWF has been holding online forums via Zoom, livestreamed on Facebook every Monday of the month. The latest of these studied the intersection of literature and Filipino Sign Language.
Literary talks are also being held at various universities nationwide. Coming up on April 24 and 25 is a literary fair, complete with lectures, at Ateneo De Manila University. The writers union Unyon ng mga Manunulat ng Pilipinas (UMPIL) will have a congress at the Gimenez Gallery in University of the Philippines Diliman on April 26.
NCCA’s ongoing workshops and activities have featured the works of National Artists in Literature. The most recent one focused on Cirilo Bautista and F. Sionil Jose, held at the University of the Philippines campus in Baguio City. The second leg focuses on the works of Alejandro Roces and Rolando Tinio, to be held at Xavier University in Cagayan De Oro on April 27. A literary tour of works by Nick Joaquin will be held around Manila in May.
Literary competitions are being held throughout the month.
A Panitikolab in General Santos City will be held on April 23, with workshops and discussions on developing skills in literature.
Timpalak Florentino Hornedo, a competition for writing and singing the Ivatan oral tradition of laji, will take place on May 15 and 16 in Basco, Batanes. Meanwhile, the Visayas-based Timpalak Komposo, which centers on writing and singing the Hiligaynon narrative ballad komposo, will have a workshop in May as well.
On April 26, the Balagtas National Literary Awards will be held, giving out the Paz Marquez Benitez Award for outstanding literature teachers and the Pedro Bucaneg Award for outstanding literary groups.
The celebration of National Literature Month every April was established through Proclamation No. 968 of 2015. For more information on the various events, visit the NCCA’s Facebook page. — Brontë H. Lacsamana
LISTED food service operator Shakey’s Pizza Asia Ventures, Inc. (SPAVI) is targeting double-digit growth in both revenue and profit this year, following an 11% increase in net income to P1.2 billion last year.
“While we remain cognizant of uncertainties the market presents, we’re aiming for continued double-digit growth, driven by new store openings and same store sales,” SPAVI President and Chief Executive Officer Vicente L. Gregorio said in a statement on Tuesday.
“This will be supported by our multi-brand portfolio — from growing market leaders like Shakey’s and Potato Corner to newer, expanding concepts such as Peri-Peri, and other incubating brands — along with our geographically diverse footprint,” he added.
Mr. Gregorio said this as SPAVI grew its net income by 11% to P1.2 billion in 2024. Systemwide sales increased by 17% to P21.7 billion.
Blended same stores sales growth reached 4% last year on volume growth carried by December festivities, product innovations and improvements, and value offerings.
“Navigating through 2024 wasn’t easy — from a strained consumer environment to inclement weather in the final quarter. Be that as it may, we focused on execution and on our guests. Holidays hold a prime space in the consumer wallet, and we wanted to make sure we have a compelling reason for families to choose our brands during this time,” Mr. Gregorio said.
SPAVI opened 478 new stores and outlets in 2024, bringing its global store network to 2,619.
The company established over 100 stores on international shores, such as Thailand, Singapore, and China.
“This is just the tip of the iceberg. We aim to open new, promising territories soon,” Mr. Gregorio said.
Total capital expenditure for the year reached P953 million, most of which was allocated to store openings and renovations.
“We are grateful for SPAVI’s performance in 2024 and the momentum we carry into 2025. We believe this will be a better year for us, given the investments that have begun to pay off, Shakey’s 50th golden year programs, and international opportunities opening up for us organically,” Mr. Gregorio said.
SPAVI shares rose by 0.72% or five centavos to P6.99 apiece on Tuesday. — Revin Mikhael D. Ochave
LISTED real estate developer Haus Talk, Inc. (HTI) reported a 51% increase in its net income for 2024, reaching P365 million, driven by an income tax holiday and operational improvements.
“The substantial rise in net income is attributed to the favorable impact of an income tax holiday and operational efficiencies realized through strategic investments in advanced construction methodologies, notably the cast-in-place technology, which have collectively expanded the company’s net income margin to a healthy 26%,” HTI said in an e-mail statement on Tuesday.
HTI said revenue rose by 39% to P1.4 billion, led by its residential projects such as Southview Homes Calendola in San Pedro, Laguna, and The Granary in Biñan, Laguna.
“Since we started, location, design, and build quality have always been the pillars of our residential developments, even though we cater to a market that requires affordability,” HTI President and Chief Operating Officer Ma. Rachel D. Madlambayan said.
“Through efficient operations and utilization of technologies now available, the impact on our financial performance is now very much apparent,” she added.
HTI said it posted a compound annual growth rate of 33% for revenue and 39% for net income since its initial public offering in 2022.
The company added that it is set to launch new vertical and horizontal projects in Angono, Antipolo, and Biñan, catering to a wider range of housing preferences.
“These strategic initiatives are designed to support HTI’s objective of addressing the demand for affordable housing and ensuring long-term value creation,” it said.
On Tuesday, HTI’s stocks remained unchanged at P1.14 per share. — Revin Mikhael D. Ochave
(Part 4)
We have seen how the increasing re-consolidation of small farms into larger units of thousands of hectares to follow the banana and pineapple model of large commercial farms is being encouraged by the Marcos Jr. Administration.
We presented the Lionheart Farm model of coconut farming. Located in Rizal town of Palawan, the farm is able to creatively combine the objective of significantly increasing farm productivity and, at the same time, improving the lives of farmers and farm workers living below the poverty line. Hopefully, this model will be replicated with farms of other commercial crops like palm oil, bamboo, coffee, cacao, mangoes, avocado, durian, and pili and cashew nuts. It is important that there be a source of long-term capital coming from Foreign Direct Investments or from the Maharlika Investment Fund put up by the Government.
Equally important for food security, however, is the sector in agriculture consisting of millions of small farmers and fisherfolk with such produce as rice, corn, vegetables, fruits, cut flowers, poultry, hogs and other livestock, as well as aquaculture products. Here, the major assistance must come from the Government in the form of more efficient infrastructure such as farm to market roads, irrigation systems, post-harvest facilities, agricultural extension services, digital infrastructure, and access to credit. The private sector, however, has a very important role in supporting the efforts of the Government, mainly to help the farmers and fisherfolk rise from poverty, by engaging in what is called social entrepreneurship, in addition to the traditional non-profit organizations or NGOs focused on reducing poverty in the countryside.
A very good example of a social enterprise is Mayani, which was represented in the Forum on Digital Transformation by its CEO, JT Solis. As we can read on its website, Mayani is a social enterprise (a for-profit business whose special mission is to address a major social problem like mass poverty). It envisions a Philippines where smallholder farmers and fisherfolk lead better lives because of technology, community, and an overarching passion to cultivate positive impact. By building a sustainable pathway to market, Mayani is able to boost rural incomes while strengthening access to affordable fresh produce for both households and commercial buyers. Mayani now collaborates with the country’s largest supermarket chains, food brands, international hotels, food processors, and other institutional players in moving the Philippine agri-fisheries sector forward.
In the session on “Digitalization in Market Access and Logistics,” Mr. Solis started by asserting that the major problem in market access available to the small farmers is the huge data deficit. What Mayani is trying to build is not only the infrastructure that underpins the supply chain operation available to the small farmers and fisherfolks, but the INFOstructure that is needed to correct the asymmetry of information, i.e., the abundant market information available to the big middlemen in contrast with the lack of data among the small producers.
Referring to information made available by Facebook and news websites, the news of the day was about the 91 hectares in Bungabon, Nueva Ecija that were devoted to the planting of tomatoes. Because there was an oversupply of tomatoes, the prices faced by the farmers collapsed. There was evident overproduction. The irony was that inflation in January was 2.9%, of which 4% was accounted for by the price of tomatoes. Of the top five contributors to inflation, the majority of the commodities actually hailed from the agricultural sector, with tomatoes being number one, in fourth and fifth place were pork meat and poultry, respectively.
This explains why just by providing the small farmers with information on the prices of the commodities they produce at the retail level through their respective cellphones, Mayani can already help the farmers get better prices because they are no longer at the mercy of unscrupulous middlemen who take advantage of the ignorance of the farmers. This illustrates the power of INFOstructure in benefiting both farmers and consumers.
Mr. Solis then elaborated on the benefits conferred on the population by the social entrepreneurship function of Mayani.
First, Mayani acts as an agri-commerce platform that is able to provide ordinary Filipinos with access to nutritious, fairly priced food products. This benefit was actually enhanced when Mayani started to work directly with B2B offtake partners like Jollibee Food Group, Shakey’s, etc. that are patronized by the ordinary Filipino consumers. These food retailing giants, by having access to reasonably priced raw materials, can then afford to keep their prices at reasonable levels for the mass consumers who belong predominantly to the C, D, and E households.
In addition to helping the institutional buyers access raw materials at lower costs, Mayani also helps provide the necessary financing to enable them to have access to lower-priced inputs, thus bringing down the cost of production. Mayani partnered with GCash enabling it to leverage the INFOstructure. The data contained within the supply chain enabled Mayani to holistically underwrite loans to the small farmers, while at the same time leveraging the offtake from the institutional buyers whose commitment to buy the produce of the small farmers guarantees the repayment of the loans.
Mr. Solis stressed that the role of the government is crucial.
According to him, the function of the government is to provide an enabling environment for the private sector to thrive alongside civil society organizations and other sectors of society. This is where the Local Government Unit (LGU) has an indispensable role. In the countryside, the “government” is the LGU, not the National Government. So, Mr. Solis stressed, Mayani works closely with the LGU officials.
In his words, “Last week we just came from Batangas with a team with GCash and we consulted with the smallholders in the presence of the local barangay kagawad that is always there, together with the mayor and the vice-mayor. Equally important is resource sharing. For example, the public sector can provide the use of trucks during times of oversupply.
“It is important to change the mindset of the farmers. As regards logistics, they have to reimagine the value chain, both in regard to access to the market and access to credit. As regards the former, I remember working with farmers in Pangasinan. They were used to working with four layers of middlemen. It was difficult for them to reimagine how to shorten the supply chain. It was even a greater challenge to rethink the manner in which they financed their production. When we started our partnership with GCash, we saw the lay of the land for credit. We realized that the farmers did not have bank accounts, credit cards, or collateral. Theirs was the world of informal credit in which predatory lending was the rule, leading to very high rates of interest.
“We asked them to imagine a situation where they were freed from those traditional usurious ways of financing their farming. Instead, we proposed to work with them, provide them with market access, and by leveraging the power of offtake and demand from institutional buyers, we could provide them with financing at more reasonable interest rates. In that way, they can belong to the world of formal credit and build their own credit history. Today, they are normally banked and belong to the world of formal credit, where predatory pricing is not the norm. We were able to demonstrate that the traditional mindset of the small farmer can be changed with the appropriate social intervention.”
(To be continued.)
Bernardo M. Villegas has a Ph.D. in Economics from Harvard, is professor emeritus at the University of Asia and the Pacific, and a visiting professor at the IESE Business School in Barcelona, Spain. He was a member of the 1986 Constitutional Commission.
VETERAN SINGER and an icon of Original Pilipino Music (OPM), Angelito “Hajji” Alejandro, passed away on April 21 at the age of 70 after battling stage 4 colon cancer.
“It is with deep sorrow that we announce the passing of our beloved dad and son, Angelito ‘Hajji’ T. Alejandro. At this time, we kindly ask for privacy as our family grieves this tremendous loss. We appreciate your understanding and support during this difficult time,” read an April 22 statement released by talent manager Girlie Rodis, on behalf of the Alejandro family.
In another post, his daughter Barni said: “I can’t fathom a life without you. My heart is broken into a million pieces. You were my first love, my hero, my idol. Forever, your Yabs!”
Her post included a video clip where she sang part of her father’s hit song, “Ang Lahat Ng Ito’y Para Sa ’Yo.”
Mr. Alejandro was diagnosed with stage 4 colon cancer in February last year. His longtime partner, singer Alynna Velasquez, had requested prayers after he was rushed to the hospital and intubated. He was cleared to return home shortly after.
Born on Dec. 26, 1954, he was known as the “Kilabot ng mga Kolehiyala” (college girls’ heartthrob) in the 1970s and ’80s. The balladeer was beloved for his effortless charm and soulful vocal talent.
He is best known for timeless hits like “Panakip Butas,” “May Minamahal,” “Tag-araw, Tag-Ulan,” “Kay Ganda ng Ating Musika,” and “Nakapagtataka,” among many others.
Aside from being in the Circus Band in the 1970s, alongside fellow OPM legend Basil Valdez, Mr. Alejandro held the distinction of winning the first-ever Metro Manila Popular Music Festival in 1978. The winning song was a collaboration with Ryan Cayabyab, “Kay Ganda ng Ating Musika,” which later went on to win the International Seoul Song Festival Grand Prix in South Korea.
Over the years, he toured in the Philippines and internationally with his contemporaries Rico J. Puno, Rey Valera, Nonoy Zuñiga, and Marco Sison in the retro pop group called the Hitmakers.
In his solo shows, he often featured his daughter, singer and theater artist Rachel Alejandro. Just last year, the father-daughter duo went on a concert tour in Australia.
At the sidelines of an entertainment event on April 11, Ms. Alejandro told the press that, if it were not for his health, “he would actually be out there performing,” referring to the ongoing US tour of the Hitmakers with APO.
“His first love is really singing and performing for all of you,” she said.
The Organisasyon ng mga Pilipinong Mang-aawit posted a statement on Facebook saying: “Your music will live on in the hearts of Filipinos everywhere. Maraming salamat sa musika, alaala, at pagmamahal mo sa sining (Thank you so much for your music, memories, and love of art.)”
Mr. Alejandro is survived by his daughters Rachel and Barni from his first marriage, and by his son Ali from his second wife, beauty queen Rio Diaz, who also died of colon cancer in 2004. He also has another daughter named Michelle. — Brontë H. Lacsamana
MAYA GROUP remained profitable in the first quarter as its digital banking arm booked strong loan growth, it said on Tuesday.
The financial technology (fintech) ecosystem said it continued to achieve net income profitability last quarter, which the group first reached at end-2024.
It added that it also saw faster revenue growth in the January-March period to build on the over 100% year-on-year increase in its topline in 2024.
“We are proud to deliver strong growth across all our products, continued scaling of our integrated ecosystem, and achieving net income profitability in Q1 2025. This reflects the strength of our model — anchored on innovation, disciplined execution, and a clear mission to expand access to digital financial services for millions of Filipinos,” Maya Group President and Maya Bank Co-Founder Shailesh Baidwan said in a statement.
“With a strong first quarter 2025 performance, Maya is on track to accelerate its ecosystem growth — expanding its credit portfolio, enhancing merchant offerings, growing its consumer platform with products like credit cards, and deepening its impact by democratizing finance in the Philippines,” the company added.
Maya Innovations Holdings, Pte. Ltd., formerly Voyager Innovations Holdings, Pte. Ltd., is the parent holding company of Maya Philippines, Inc. and Maya Bank, Inc.
Maya Philippines is registered with the Bangko Sentral ng Pilipinas (BSP) as an electronic money issuer, remittance and transfer company, operator of payment system, and virtual asset services provider.
Meanwhile, Maya Bank is one of the six BSP-licensed digital banks in the country.
PLDT Inc., Maya Innovations’ main shareholder, said in February that the Maya Group booked a profit in full-year 2024 and that Maya Bank has been in the black starting September 2024.
Maya Bank posted a net loss of P826.83 million in 2023, widening from the P729.77-million loss in 2022, its annual report showed.
Maya Group on Tuesday said its strong performance for the first quarter by driven by “robust lending activity and continued leadership in deposits and payments.”
Maya Bank’s loan disbursements reached nearly P28 billion in the first quarter alone, with cumulative disbursements now at P120 billion from P92 billion at end-2024.
The digital bank also ended the quarter with P43.6 billion in total deposits.
“This achievement highlights the trust Maya has built among its customers and its capacity to support accelerated credit expansion,” it said.
“Maya’s loan-to-deposit ratio improved to 51.1%, signaling strong credit demand and disciplined capital deployment,” it added.
Maya Bank’s nonperforming loan ratio was at 3.8% at end-March.
“Maya is also accelerating growth in its merchant business through an integrated payments and banking platform designed for large enterprises, as well as small and micro businesses. In 2024, Maya processed over P1 trillion in payments for merchants, leading the market in digital transactions,” it added.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — AMCS
