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Vehicle sales dip in May

Vehicles crawl through bumper-to-bumper traffic along EDSA-Taft in Pasay City, May 20, 2025. — PHILIPPINE STAR/RYAN BALDEMOR

By Justine Irish D. Tabile, Reporter

PHILIPPINE AUTOMOTIVE SALES slipped by 1.2% in May to 39,775, amid a double-digit drop in sales of passenger cars, an industry report showed.

A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed new vehicle sales fell to 39,775 units in May from 40,271 units in the same month a year ago.

Auto Sales (May 2025)Month on month, car sales jumped by 18.4% from 33,580 units sold in April.

In May, passenger car sales plunged by 28% to 7,895 from 10,967 units sold in the same month in 2024. Month on month, sales went up by 21.5% from 6,498 units sold in April.

Meanwhile, sales of commercial vehicles, which accounted for 80.15% of May sales, rose by 8.8% to 31,880 from 29,304 units a year ago. Month on month, sales grew 17.7% from 27,082 units in April.

Broken down, light commercial vehicle sales went up by 9.7% year on year to 23,671 units in May, while sales of Asian utility vehicles (AUV) increased by 5.8% to 7,161.

Sales of light-duty trucks and buses went up by 19.2% to 633 units, while sales of large trucks surged 101.6% to 127. Medium truck sales dropped 22% to 288 units in May.

“Car sales in May were a bit softer compared with last year, mostly because passenger car demand slowed down,” said Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

“On the flip side, commercial vehicles held up well, and electric vehicles (EV) are gaining more traction. All in all, the market is still growing steadily, just with some mixed signals last month,” he added.

For the January-to-May period, new vehicle sales increased by 1.7% to 190,429 units from 187,191 units a year ago despite a slump in passenger car sales.

“Vehicle sales have been weighed down recently by reduced consumer and business sentiment as the trade war is expected to reduce global trade, investments, employment, and the world economy,” Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said in a Viber message.

In the first five months, passenger car sales declined by 21.4% to 38,725 from 49,247 in the same period last year.

On the other hand, commercial vehicle sales jumped by 10% to 151,704 units in the January-to-May period from 137,944 a year ago.

“We are encouraged by the industry’s sustained growth, especially with commercial vehicles driving overall performance,” CAMPI President Rommel R. Gutierrez said in a statement on Wednesday.

In May, EV sales continued to grow, now accounting for 9.08% of the industry. EV sales hit 3,613 units in May, 139.4% up from 1,509 units sold in April.

In the first five months, EV sales reached 10,433 units, accounting for 5.48% of the market.

This year, CAMPI expects EV sales to reach 10% of total car sales.

Toyota Motor Philippines Corp. remained the market leader, with sales of 91,652 units in the January-to-May period, up 6.3% from the 86,257 units a year ago. It accounted for 48.13% of the market.

Mitsubishi Motors Philippines Corp. ranked second with a market share of 19.23% after posting a 4.2% increase in sales to 36,613 units.

In third spot was Nissan Philippines, Inc., even as sales dropped by 14.5% to 9,879. It had a market share of 5.19%.

Rounding out the top five were Suzuki Phils., Inc., which saw an 11.8% increase in sales to 8,913 units, and Ford Motor Co. Phils., Inc., which saw a 30.1% decline to 8,559 units.

For EVs, Toyota sold 7,012 hybrid electric vehicles in the first five months of the year, while Tesla Motors Philippines sold 1,001 units of battery electric vehicles.

“With strong momentum heading into the second half of the year, CAMPI remains confident in the automotive industry’s positive performance. Continued collaboration between government and industry stakeholders will be key to sustaining this growth,” Mr. Gutierrez said.

For this year, CAMPI has set a sales target of 500,000 units. Last year, the industry sold 467,252 units.

Europe-based digital bank applied for license — BSP

BW FILE PHOTO

A EUROPE-BASED digital bank is applying for a local digital banking license, the Bangko Sentral ng Pilipinas (BSP) said.

BSP Deputy Governor Chuchi G. Fonacier said one digital bank has already completed the requirements for the application.

“There’s only one,” she told reporters on Tuesday.

Ms. Fonacier said other digital banks are interested in applying but have yet to complete the paperwork.

“There are those applying but are in the process of completing the requirements. That’s why we’re not at liberty to disclose. One already did the paperwork, but there are some that are still lacking in the documentary requirements,” she said.

The BSP in January lifted a three-year moratorium on digital banking licenses, allowing four more players to operate in the country. These can either be new applicants or banks that will convert their existing license to a digital one.

There are six digital banks in the country.

The BSP said applicants must “bring something new to the table” and offer innovative products that will cater to underserved and untapped markets.

Ms. Fonacier said the Europe-based bank has proposals to tap underserved segments.

She added the applicant uses artificial intelligence (AI) and gives their users access to transactional and credit data.

“That’s the challenge with data. How do you build the data on one person? This bank has a way to build something like that… Of course, AI also has a role. But they have this solution where you can easily gather information,” she said.

Ms. Fonacier also said that while only two active digital banks are profitable, the industry is on track to breaking even.

“It’s understandable, right? If you’re a startup, you go through that process. It’s not right away… You’re still establishing your presence… The prospects in the Philippines that we’re seeing are better compared with the other jurisdictions that have six players,” she said.

The six digital banks operating in the Philippines are Tonik Digital Bank, Inc.; GoTyme Bank of the Gokongwei group and Singapore-based Tyme; Maya Bank of Voyager Innovations, Inc.; Overseas Filipino Bank, a subsidiary of Land Bank of the Philippines; UNObank of DigibankASIA Pte. Ltd.; and UnionDigital Bank of Union Bank of the Philippines, Inc.

Preliminary data from the BSP showed that the digital banking sector posted a P1.04-billion net loss as of end-March.

The digital banking industry has been in the red since the BSP began consolidating data from the sector starting March 2023. — Aaron Michael C. Sy

New ecozones to bring in P3.2 billion in investments

LIMA Estate in Lipa, Malvar, Batangas - ABOITIZLAND.COM

NEWLY APPROVED economic zones (ecozones) are expected to generate P3.2 billion in investments, according to the Philippine Economic Zone Authority (PEZA).

PEZA Director-General Tereso O. Panga said in a statement on Wednesday that the economic zones, which have an estimated cost of P3.2 billion, are expected to facilitate growth and development in the countryside and attract new locators.

“As a medium-term strategy under the Philippine Development Plan, the ecozones will play a vital role in attracting the much-needed investments in the country, generating more jobs for Filipinos, and contributing to accelerating the nation’s socioeconomic progress,” he said.

“For the first half of the year, President Ferdinand R. Marcos, Jr. approved four ecozones — two expansions of a manufacturing zone in Batangas and two new IT (information technology) parks in Tagbilaran City and Bacolod City,” he added.

The expansion of the Aboitiz-led Lima Technology Center has an estimated project cost of P1.4 billion. This is expected to add 42.72 hectares to the ecozone located in Lipa and Malvar, Batangas.

“These expansions are expected to further amplify Aboitiz InfraCapital’s contributions and better enable PEZA to execute its commitment to sustainable economic progress and national development,” PEZA said.

Megaworld is also developing an IT Park, to be called The Upper East, in Bacolod City. Spanning 33.96 hectares, the project involves the construction of two IT buildings, which have a projected cost of about P1.6 billion.

“Five information technology and business process management (IT-BPM) companies are expected to operate in the park, creating over 2,500 local jobs,” PEZA said.

“The development of this IT park solidifies the position of Bacolod City as an emerging IT-BPM hub in the country and will further create opportunities for innovation and development,” it added.

Meanwhile, Mr. Marcos also issued a proclamation for an IT park, covering about 11,237 square meters, in Tagbilaran.

The Tagbilaran Uptown IT Hub 2 has a projected cost of over P200 million and is expected to attract more IT-BPM locators to Bohol.

“A prospective locator has already expressed interest in investing upwards of P70 million and hiring over 500 Filipinos,” PEZA said.

Under the current administration, a total of 32 ecozones have been proclaimed, which have P13.406 billion in committed investments.

This year, PEZA is targeting the approval and proclamation of at least 30 ecozones, particularly in Central Luzon, Cebu, and Mindanao.

“PEZA is also working to establish the Palawan Mega Ecozone — the first of its kind in the country — and the Pantao Ecozone, eyed as the fifth public ecozone, both targeted for proclamation within the current administration,” PEZA said.

Citing the latest report from the Philippine Statistics Authority, the investment promotion agency said that the majority of the top local government units outside Metro Manila in terms of economic contribution and foreign investment flows are home to ecozones.

“PEZA continues to engage with local governments and developers in advancing ecozone development in the country,” Mr. Panga said. — Justine Irish D. Tabile

Semirara says court issued TRO halting duties on fuel imports

SEMIRARAMINING.COM

SEMIRARA Mining and Power Corp. (SMPC) said a regional trial court has granted its request for a 20-day temporary restraining order (TRO) against the government’s collection of duties and taxes on its fuel imports.

“We disclose today that Semirara Mining and Power Corp. filed a Complaint for Injunction with prayer for Temporary Restraining Order and/or Writ of Preliminary Injunction… to enjoin the Department of Finance (DoF), BIR (Bureau of Internal Revenue), and BoC (Bureau of Customs) from collecting duties and taxes on the company’s fuel imports,” SMPC said in a regulatory filing on Wednesday.

The company said the Regional Trial Court of Makati Branch 234 issued the TRO on June 17, but has yet to publicly release a copy of the court order as of press time.

SMPC said its exemption is backed by Section 295(f) of the National Internal Revenue Code, as amended by the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law.

It also cited Presidential Decree (PD) 972 or the Coal Development Act of 1976 and its Coal Operating Contract.

“The company maintains that it remains exempt from such charges under PD 972 and its Coal Operating Contract, which prevail over general laws and are protected by the Constitution’s Non-impairment Clause,” it said.

Sought for comment, Bureau of Customs Assistant Commissioner Vincent Philip C. Maronilla said the agency is awaiting the official copy of the TRO and the complaint.

He added that the BoC will coordinate with the Bureau of Internal Revenue and the Department of Finance on legal steps.

The BIR and DoF have yet to respond as of press time.

SMPC said the legal proceedings will have “no effect on its business operations.”

The Consunji-led company is the country’s largest coal producer, supplying fuel to domestic power plants, cement factories, and industrial users, and exporting to markets such as China, South Korea, and Brunei. — Sheldeen Joy Talavera

Gov’t to extend Sumitomo’s MRT-3 maintenance contract

PHILIPPINE STAR/MIGUEL DE GUZMAN

By Ashley Erika O. Jose, Reporter

THE Department of Transportation (DoTr) is set to extend the maintenance contract of Sumitomo Corp. for the Metro Rail Transit Line 3 (MRT-3).

“We are just extending the maintenance contract of Sumitomo,” Transportation Undersecretary for Railways Timothy John R. Batan said in a Viber message to BusinessWorld on Wednesday.

The contract is scheduled to expire in July, coinciding with the end of the MRT-3’s build-lease-transfer (BLT) agreement with the Sobrepeña-led Metro Rail Transit Corp. (MRTC).

In 2023, Sumitomo and the MHI Group signed a 26-month maintenance contract with the DoTr, covering June 2023 to July 2025.

Apart from maintenance services, the agreement also covers the extension of the rail line, signal installation to the common station, and the expansion of the pocket track to increase train capacity, according to Sumitomo’s website.

Transportation Secretary Vivencio B. Dizon declined to disclose the duration of the extension, saying the government is still finalizing the terms.

Mr. Dizon said the government aims to conduct the bidding for MRT-3’s privatization within the year.

“We will push through with the bidding. We need to PPP MRT-3. That is the goal for this year,” he told reporters on the sidelines of a forum.

Under the current BLT concession, the DoTr holds the franchise and manages operations and fare collection, while MRTC built and maintains the system in exchange for regular payments from the government. Upon the contract’s expiration next month, ownership and operations of MRT-3 will be transferred to the government.

The DoTr had previously targeted privatizing MRT-3’s operations and maintenance before the MRTC contract lapses, but Mr. Dizon declined to provide a definitive timeline.

In January, the agency said it had tapped the Asian Development Bank to study privatization options for the MRT-3.

Rene S. Santiago, former president of the Transportation Science Society of the Philippines, said a solicited mode of procurement may not attract many bidders.

“DoTr has no choice but to bite the bullet. It could have been avoided, had the DoTr not rejected the proposal of Sumitomo-MPIC. Their consultant had boxed DoTr into solicited mode,” he said.

To recall, the PPP Center said the DoTr rejected Metro Pacific Investments Corp.’s (MPIC) unsolicited proposal for the MRT-3 project in December last year.

Nigel Paul C. Villarete, senior adviser on PPP at Libra Konsult, Inc., said that while solicited procurement often garners fewer bidders, it attracts qualified ones.

“The capable ones with sufficient capacity in expertise and experience as well as financing will always be interested,” he said in a Viber message.

For large-scale projects such as MRT-3’s operations and maintenance, a solicited procurement mode is the most viable option, Mr. Villarete said.

“Solicited mode contracts are more transparent and allow the selection of the best operator. Unsolicited ones will bind the government to an operator who might not be the best that we can have,” he said, noting that solicited procurement gives the government full control over the bidding process.

Old company, new drinks

The advantages of keeping things all in the family

THE OLDEST running distillery in the Philippines, Destileria Limtuaco & Co, Inc. — founded in 1852 — just released its newest product: a sparkling sangria.

Maria Clara Sparkling Sangria was launched on June 10 at the Azadore restaurant in Quezon City. It follows the footsteps of older sister Maria Clara Sangria, first blended in 1985 by Julius Limpe, of the fourth generation. His daughter, Olivia Limpe-Aw, now leads the distillery, and is ushering her sons, of the sixth generation, into the company.

“It was created as a tribute to the Filipina woman, and celebrating the spirit of a vibrant blend of resilience, grace, courage, and strength,” said Ms. Limpe-Aw in a speech. Prior to this launch, they had released different variants of her father’s sangria (a wine cocktail of fruit juice and wine). At the height of the COVID-19 pandemic of 2020, they developed the Maria Clara Virgin Sangria, with 0% alcohol, then followed that up with a Halal-certified mix called Maria Clara Punch. “We believe that every community deserves a seat at the table,” said Ms. Limpe-Aw. The new sparkling sangria has 7% alcohol and is served in a 330-milliliter can.

Ms. Limpe-Aw said that the sparkling version was developed by her sons, whom she introduced: Clifford Limpe-Aw sits as vice-president for operations, Aaron James is executive vice-president, and Brandon serves as national sales manager (and was the DJ for the evening). “This is now their contribution to our Filipino consumers,” she said.

The company is also behind White Castle Whisky and Napoleon VSOP brandy, among other spirits. The company currently has a presence in Korea, Taiwan, Malaysia, and Singapore; with a smaller market in the US and Europe.

“We blend the cocktail, and after we blend it, we carbonate it. It sounds simple, but it’s quite a complex process also,” Ms. Limpe-Aw said of the sparkling sangria.

Meanwhile, Aaron Limpe-Aw discussed why they figured a fizzy drink was the way to go. “We’re going after a younger market for our liquor. More and more, the Philippines has the highest percentage of young people. We’re one of two countries in the world with an average age of about 25 to 26 years. We have to really cater to a younger market.”

Mr. Limpe-Aw unbuttoned his shirt to show off their new line which was printed at the back of his T-shirt: a range of non-alcoholic mixers like ginger ale, tonic, and soda water.

Ms. Limpe-Aw discussed the need for innovation with BusinessWorld, as well as independence from importation, which was the impetus for the creation of the new line of mixers: “We’re importing a lot of these, and I think it’s not too difficult to produce. Why not make it locally?

“Things we can make, we should be making it ourselves,” she said. “If we can make it, there will be less demand for imports.”

THE OLDER, THE BETTER
As with wine, some things just get better with age. The distillery is celebrating its 173rd year of operations, and the Limpe-Aw family clued us in on how they’ve managed to hold on to the family business for that long.

“We take succession planning very seriously,” said Ms. Limpe-Aw. “We exposed them at a young age. We try to teach them whatever we can, all aspects of the business as they’re growing up, and becoming more mature. They have to really do the rounds in the business.”

Mr. Limpe-Aw (Aaron, again), said, “The trick is really to have the next generation involved, and want to be involved.”

He added, “You have to minimize internal conflict.”

Mother and son discuss the advantages of the company still being family-owned and operated. She said, “You can keep your trade secrets within the family. We’re not pressured to keep on producing for growth. When you want to innovate sometimes, it takes time. We can take our time to come up with new products, processes, and formulations. It’s all within the family. We’re building on what we know… we’re not starting from scratch.”

Meanwhile, Mr. Limpe-Aw said, “We get to talk about things a lot. It (the company) is like a part of the family.

“That makes it more flexible. We get to make decisions very quickly.”

For now, Maria Clara Sparkling Sangria is just available at 7-Eleven stores nationwide. — Joseph L. Garcia

PHL organizations must regulate use of open-source AI tools to protect data

IE UNIVERSITY Chief Data Officer Francisco Machín talks to journalists during the South Summit Madrid 2025 in Madrid, Spain on June 5. — BEATRIZ MARIE D. CRUZ

By Beatriz Marie D. Cruz, Reporter

MADRID, Spain — Philippine organizations must regulate employees’ use of open-source artificial intelligence (AI)-powered tools to prevent data leakage, according to an expert.

“All organizations need to take care about the concept of data leakage. Data leakage happens always whenever you are using an open website,” Francisco Machín, chief data and analytics officer at IE University, told BusinessWorld on the sidelines of the South Summit Madrid 2025 on June 5.

“You need to [prevent] your employees from using these open websites. So, you need to provide your staff with another way of doing [work using AI-run apps].”

About 32% of information technology (IT) decision-makers reported accidental exposure of security vulnerabilities due to their use of open-source AI components, according to a 2024 report by Anaconda AI Platform and ETR (Enterprise Technology Research).

Open-source solutions like DeepSeek and OpenAI have gained popularity for their ability to help individuals and companies build customizable and cost-efficient AI solutions. However, data privacy and security concerns have led some jurisdictions to ban the use of these platforms.

Mr. Machín said that to regulate employees’ use of AI-driven apps, companies can sign service agreements with OpenAI or cloud providers to put in place advanced security and data protection features.

These kinds of frameworks must form part of organizations’ management strategies to allow them to tap into the benefits of AI while ensuring ethical and safe use.

“Without the roots, all the projects that you are doing could be just ‘one hit wonders,’” he told reporters separately at the same event. “But, if you want to do a long-term AI strategy, you need to have your foundations clear and well-defined.”

According to Mr. Machín, training individuals on AI use must start in school.

IE University, a private university based in Madrid, is among the first academic institutions to integrate OpenAI tools across their ecosystems.

“Education is about the people… We need to embrace this technology to [enable] us to be better instructors and better persons at the end of the day,” Mr. Machín said.

At IE, each student receives an AI certification and access to ChatGPT Edu, a version of ChatGPT specifically built for students, faculty and staff.

Their undergraduate and post-graduate students take specialized training courses called “AI for Productivity” and “AI 101” that tackle ethical AI use, critical thinking, and responsible application of AI technologies.

“We try to help professors embrace this technology, to allow students to embrace this… This is not to substitute anyone — it’s about augmenting us,” Mr. Machín said.

The Philippines’ Generative AI market is projected to reach a volume of $1.40 billion by 2030, according to German data platform Statista.

Vista Land secures funding for P10-B maturing bonds

VISTAESTATES.VISTALAND.COM.PH

VILLAR-LED property developer Vista Land & Lifescapes, Inc. has secured financing to settle P10 billion in retail bonds that matured on Wednesday.

The financing came in the form of shareholder advances, Vista Land said in a regulatory filing.

The P10-billion Series E fixed-rate retail bonds, which had a 5.5-year tenor with quarterly coupons priced at 5.6992% per annum, were issued in December 2019. The offering was twice oversubscribed compared to the initial P5-billion target.

In May, Vista Land subsidiary VLL International, Inc. obtained a $150-million syndicated term loan facility from Sumitomo Mitsui Banking Corp. at an interest rate of 6.40509% per annum.

The proceeds from the loan facility will be used to finance, refinance, or reimburse (directly or indirectly) working capital and general corporate purposes of the Vista Land Group.

For the first quarter, Vista Land reported a 4% increase in attributable net income to P2.96 billion.

Total revenues rose by 3.9% to P10.65 billion, driven by a 5% increase in real estate sales to P5.85 billion.

“(The higher revenue from real estate sales) was primarily attributable to the increase in the overall completion rate of sold inventories of some of its business units as well as the recognition of the significant financing component for the period,” Vista Land said.

On Wednesday, Vista Land shares gained 0.61% or one centavo to close at P1.64 each. — Revin Mikhael D. Ochave

Vistamalls, Inc. to hold online Annual Meeting of Stockholders on July 28

 


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Medical Doctors, Inc. to hold Annual Stockholders’ Meeting on July 15

 

 


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AllHome Corp. to conduct online Annual Meeting of Stockholders on June 27

 


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Big in Japan (by way of Singapore)

SATOMI MIZUGISHI — THE PENINSULA MANILA

Satomi Mizugishi takes over The Pen’s Bar

LAST FRIDAY, The Peninsula Manila’s bar takeover series featured Satomi Mizugishi, formerly of Singapore’s Jigger & Pony (No. 5 at the World’s 50 Best Bars 2024 and No. 3 at the awards’ 2024 Asian counterpart).

Ms. Mizugishi worked there for two years, and resigned just before they made the announcement. Today, she works as a freelance bar consultant back in Japan. We met her right before her bar takeover on June 13 at The Peninsula’s The Bar.

“Right after COVID, I got sick of being in Japan, because no bartenders were working,” she said, which is why she made the move to Singapore.

“It was my very first time working abroad,” she said of her stint working at the top bar in Singapore. While she had worked with different nationalities in Japan before — Chinese, Koreans, and Swedes — Singapore was more multicultural. “I learned a lot of things from them, like how to work together, with different backgrounds and cultures.”

That’s probably why she hit the sweet spot between traditional Japanese tastes and more cosmopolitan takes for her bar takeover last Friday.

FROM PUNCH TO NEGRONI
She made four drinks for the occasion: a Yuzusco Margarita (Patron Anejo, Sancho Matcha Coinyreau, Yuzusco, agave, and lime), a Tropical Coffee Fizz (Patron Anejo, Bombay Sapphire, pineapple falernum, Kokuto — brown sugar — syrup, cold brew coffee, lemon, and soda), an Elegant Negroni (Bombay Sapphire, Buckwheat Campari, Sweet Vermouth, and port), and the DX-Reggae Punch (Bombay Sapphire, HM peach liqueur, dark oolong tea, Kokuto-ginger syrup, and acid).

We had the Reggae Punch first, a cocktail popular in Japan. It was served with a wafer shaped like a macaron, filled with peach preserve, which you bite into right before taking a sip. In the mouth, the wafer crumbled slowly and filled the mouth with a fruity flavor. The drink itself was mild and delicate, with floral notes and a nice, subtle peach flavor — it was like drinking in the scent of a perfume, Guerlain’s Mitsouko, to be exact.

The Margarita was subtly sour; but an all-grown-up version of the bar favorite. It had heat and chili in the latter stages of the swallow, and the green, savory rimming salt added an edge.

The Negroni was expectedly refined and bitter, while the coffee fizz was a delightful surprise — we usually hate the flavor in drinks, but this one translated to a nutty cocoa note with a light and refreshing edge.

The Bar was busy and we ended the evening past midnight (Ms. Mizugishi passed around a shot before retiring for the night).

A BIT OF HISTORY
Speaking again from her experience at Jigger & Pony, she gave tips on how bars can make it to the top. “You have to make some noise in the industry,” saying that winning competitions and doing exchanges and guest shifts abroad really make a difference.

This is what she’s doing to bars now in Japan, to keep them in shape for the next round of 50 Best selections. “Japan has a longer history of bars, but then Japan is a bit bigger than Singapore; and has more bars maybe, but I see just a few of them on the list.

“The average level they have (of drinks) in Japan is quite high, but sometimes the venue is small; the team is small,” she said.

Her experience, however, goes beyond Jigger & Pony. “I’m not too sure when I started,” she said about mixing drinks, because even as a schoolgirl, she had been mixing sodas and juices for fun, and to taste and capture flavors. She said that her mother also regularly patronized bars: “I was quite inspired by my mom. She’s the one who made me a bartender, as well. She was happy, that like, ‘Now, my daughter’s making cocktails for me!’”

Two more guest bartenders are coming to The Pen this year: in August and in October. — Joseph L. Garcia

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