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ALI plans P95-billion capex for this year

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By Revin Mikhael D. Ochave, Reporter

PROPERTY DEVELOPER Ayala Land, Inc. (ALI) plans to allocate P95 billion for capital expenditures (capex) this year as it aims to launch P100 billion worth of projects.

“For 2025, we are looking at a P95-billion capex,” ALI President and Chief Executive Officer Anna Ma. Margarita Bautista-Dy said during a virtual briefing on Thursday. 

Ms. Bautista-Dy said 37% of the capex will be allocated for residential projects, 25% for estate development, 23% for leasing and hospitality assets, and 15% for land acquisitions and general corporate purposes. 

ALI’s capex budget this year is higher than the P84.6 billion spent in 2024, of which 46% was used for residential developments, 27% for estate development, 15% for leasing and hospitality assets, and 12% for land acquisition commitments. 

Ms. Bautista-Dy said ALI aims to launch P100 billion worth of property development projects this year.  “P80 billion will be for residential projects, while P20 billion will be for commercial and industrial lots.”

In 2024, ALI launched P80.5 billion worth of projects, 64% of which were located outside Metro Manila.

Ms. Bautista-Dy said ALI is also looking to open and acquire over 170,000 square meters of leasing assets across its malls, offices, and logistics businesses this year. 

The expansion plans come as ALI disclosed in a regulatory filing that its board has approved raising up to P75 billion in capital this year through retail bonds, corporate notes, and bilateral term loans.

The capital-raising initiative will partially fund general corporate requirements and refinance maturing debt.

“P25 billion of the P75 billion is earmarked for refinancing. The remaining P50 billion is probably on the high side — we think we’ll be borrowing much less than that,” ALI Chief Finance Officer Augusto D. Bengzon said in the virtual briefing. 

“Most likely, we’ll raise around P30 billion, with half coming from bank financing and the other half from the capital markets. P25 billion will go toward refinancing, and another P30 billion will help fund new capex,” he added. 

This year, Ms. Bautista-Dy said ALI aims to grow its bottom line at twice the country’s economic growth rate.

“In 2025, we intend to grow the business at twice the gross domestic product, which we forecast to be around 12%,” she said.

ALI recorded a 15% increase in net income in 2024, reaching P28.2 billion from P24.5 billion in 2023, driven by record-high revenue.

Revenue surged by 21% to an all-time high of P180.7 billion in 2024, up from P148.9 billion the previous year.

“We ended the year on solid footing, with all our business lines executing their growth strategies,” Ms. Bautista-Dy said.

Property development revenue rose by 22% to P112.9 billion, led by higher residential and estate lot bookings. Residential revenue increased by 23% to P94.9 billion, driven by strong demand across all brands. 

Revenue from commercial and industrial lots grew by 34% to P14.6 billion, reflecting increased demand outside Metro Manila.

Residential sales reservations climbed by 12% to P127.1 billion, supported by robust demand for premium developments, horizontal projects, and suburban estates.

Sales from premium brands AyalaLand Premier and Alveo rose by 25% to P80.8 billion, accounting for 64% of total sales. 

Leasing and hospitality revenues increased by 9% to P45.6 billion. Shopping center and office leasing revenues grew by 9% to P23.0 billion and P12.9 billion, respectively, while hotel and resort revenues climbed by 11% to P9.7 billion. 

Meanwhile, ALI is infusing P21 billion worth of properties into its real estate investment trust company, AREIT, Inc., through a property-for-share swap deal, further expanding AREIT’s portfolio. 

Under the agreement, ALI and its subsidiaries — Accendo Commercial Corp., Cagayan de Oro Gateway Corp. (CDOGC), and Central Bloc Hotel Ventures, Inc. — will subscribe to 505.89 million AREIT shares in exchange for eight commercial properties valued at P20.99 billion. 

As of press time, ALI and AREIT have yet to disclose specific details about the properties involved in the transaction, which was validated by a third-party opinion.

Accendo manages the Abreeza properties and other Ayala developments in Davao City, including Ayala Malls Abreeza, while CDOGC oversees the Centrio mixed-use development in Cagayan de Oro. Central Bloc operates the Seda Central Bloc Cebu hotel in Cebu City. 

The deal is subject to approval by AREIT shareholders at their annual meeting on April 24. 

ALI’s board also approved reducing its authorized capital stock to P20.44 billion from P21.44 billion through the retirement of 1 billion treasury shares.

On Thursday, ALI shares fell by 8.06% or P2 to P22.80 apiece, while AREIT shares declined by 1.14% or 45 centavos to P39.05 each.

Cebu Landmasters JV to develop mixed-use project

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CEBU Landmasters, Inc. (CLI) has secured approval from the Securities and Exchange Commission (SEC) to establish a joint venture (JV) company with Martinez Agricultural Corp. (MAC) for a mixed-use project in midtown Cebu.

The JV company, CLI MAC Developers, Inc., will develop properties into a mixed-use project featuring residential condominiums and a retail component, CLI said in a regulatory filing on Thursday.

CLI said the JV company received its SEC Certificate of Incorporation on Thursday.

In August last year, CLI and MAC signed a P373.59-million JV agreement to develop the project. Of the total investment, 60% is from CLI, while 40% is from MAC. 

“CLI’s new joint venture with MAC aims to develop a residential condominium project that addresses the ongoing need and demand for housing in the project area,” CLI said. 

Last month, CLI said it is allocating P12 billion for the initial phases of its two maiden projects in Luzon, which include a horizontal development and a condominium project. The company expects to launch its first Luzon project by 2026.

Since its establishment in 2003, CLI has launched nearly 130 projects across 17 cities. Its portfolio includes residential developments, offices, hotels and resorts, co-living and co-working spaces, mixed-use projects, and large-scale townships. 

On Thursday, CLI shares rose by 0.38% or one centavo to P2.66 apiece. — Revin Mikhael D. Ochave

Eraserheads documentary gets limited run in theaters

DIANE VENTURA (left) and Ely Buendia at Guevarra’s by Chef Laudico.

Rumors will be dispelled, the future clarified

A DOCUMENTARY on the iconic original Pilipino music (OPM) band Eraserheads will have a theatrical run from March 21 to 23 The film will include rare footage and new interviews with the four band members.

Eraserheads: Combo on the Run, which takes a deep dive into the history, struggles, and triumphs of the band, as well as an exclusive behind-the-scenes look at the Huling El Bimbo reunion concert in 2022, is an attempt to “reclaim their narrative,” according to the band.

“I believe in keeping something for yourself and not spoon-feeding your audience. You can see that in the music. It’s not very literal. So, I guess the boys and I like mystery and keeping things vague. But there comes a time when it’s used against you,” said Eraserheads frontman Ely Buendia, at a press conference on Feb. 17 in San Juan City.

“There are misconceptions, urban legends, and myths regarding the band, which is not necessarily good, so this time we chose a different path and decided it’s high time to reclaim our narrative,” he added.

Directed by producer and filmmaker Maria Diane Ventura, the documentary aims to be an intimate portrayal of the Eraserheads, filmed in Dolby Atmos for audiences to fully appreciate the music.

It will also be a vehicle for a surprise pop-up performance by the band, who will grace one lucky screening audience as a special treat during the limited three-day run. The iconic band will perform in one of the participating cinemas screening the documentary, the location and time of their visit remaining a complete mystery until the very last second.

Warner Bros. Pictures Philippines’ head of distribution Rico V. Gonzales explained that the three-day screening format is meant to generate interest among music lovers.

“The audience are used to watching them in concerts, arenas, and coliseums, their tours having three days of back-to-back shows. So, we thought, with this documentary, we want to maintain that format also. We give them a whole weekend of it,” he told the press.

AN INTIMATE LOOK
For the documentary’s director, Ms. Ventura, the film aims to be a “candid and honest, as well as careful and balanced depiction of the band’s complexity.”

“What the fans can expect is that nothing is swept under the rug. Everything is explored. This is a documentary, and I’m honoring the truth,” she said.

Mr. Buendia also acknowledged the changes that he, Marcus Adoro, Buddy Zabala, and Raimund Marasigan have undergone over the years that allowed them to do a documentary.

One such change was being upfront about the urban legend that the song “Spoliarium” was written about the Pepsi Paloma rape case involving comedians Tito Sotto, Vic Sotto, and Joey de Leon.

“I think that’s the most ridiculous rumor ever. That’s not about them,” he declared.

The director’s perspective also allowed her to bear witness to the band’s maturity. Ms. Ventura said: “We shot the interviews with each band member independently, and I saw that every time they would unload their feelings or speak their truth, the next time they’d meet each other it would feel as if something was lifted.

“It’s as if the fact of expressing themselves and being honest was, in and of itself, healing and cathartic for them,” she explained.

Despite this progress, Mr. Buendia dashed any hopes of the Eraserheads ever getting together to make more music.

“The analogy here is like when you meet up with your ex. Is it a good idea to sleep with them again? There’s so much baggage there. It might be enjoyable of course, while you’re doing it, but you also have to think about the consequences,” he said.

However, the OPM legend admitted that the four of them have gotten “pretty good at reconciliation.”

“I see the efforts of everyone to move forward in a more optimistic and positive light. It’s a far cry from 20 years ago.”

Eraserheads: Combo On The Run is presented by Dvent Pictures and WEU, and distributed by Warner Bros. Pictures. It will be the first Philippine documentary to be screened in the immersive sound technology of Dolby Atmos.

Its limited run in cinemas nationwide will be from March 21 to 23. — Brontë H. Lacsamana

Manila Water activates solar power systems at 3 facilities

STOCK PHOTO | Image by Pixabay from Pexels

EAST ZONE concessionaire Manila Water Co., Inc. said it has energized solar rooftop systems with a combined capacity of 2.5 megawatt-peak (MWp) at three key facilities. 

Through its partnership with Malaysia-based renewable energy company Ditrolic Energy, Manila Water has activated three solar power installations at the Cardona Water Treatment Plant (WTP), East La Mesa WTP, and San Juan Compound, it said in a media release on Thursday.

The solar power systems are projected to generate an estimated 3.6 million kilowatt-hours per year and mitigate 2,576 tons of carbon dioxide annually.

“In the last couple of years, we tried to make this a reality. We like to quadruple [our use of renewable energy] and grow it as much as possible,” said Jose Victor Emmanuel “Jocot” A. de Dios, president and chief executive officer (CEO) of Manila Water. 

The energization of solar power systems is a result of a 15-year solar facility power purchase agreement that Manila Water and Ditrolic Energy entered into in 2023. 

Manila Water said the initiative aims to lower and stabilize power costs while supporting the company’s objectives of increasing energy efficiency and reducing its carbon footprint.

“By deploying 2.5 MWp of solar energy across Manila Water’s key facilities, we are demonstrating how clean energy can be seamlessly integrated into essential utility operations,” said Tham Chee Aun, group CEO of Ditrolic Energy. 

“Ditrolic Energy is proud to contribute to this milestone, reinforcing our target to deploy more green investments in the country from our climate-blended finance fund,” he added.

Manila Water aims to achieve a portfolio of 30 MWp in solar installations as part of its commitment to finding innovative ways to make operations cost-effective while remaining dedicated to providing high-quality and affordable water and wastewater services. 

Manila Water provides water supply, wastewater, and sanitation services to over 7.3 million customers in 23 cities and municipalities in the east zone of Metro Manila and Rizal province. — Sheldeen Joy Talavera

Metrobank books record P48-B net profit in 2024

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METROPOLITAN BANK & TRUST Co. (Metrobank) saw its net income increase by 13.97% to a record P48.14 billion last year as its assets continued to expand.

The bank’s attributable net profit was up from P42.24 billion in 2023, its financial statement disclosed to the stock exchange on Thursday showed.

This translated to a return on average equity of 12.97% and a return on average assets of 1.45%, up from 12.51% and 1.42% in 2023, respectively.

“The hard work that all Metrobankers put in growing our corporate, middle market, retail and wealth segments as well as our investments in technology and human resources and risk management initiatives continue to bear fruit,” Metrobank President Fabian S. Dee said. “This positive momentum and our strong balance sheet set us up very well to continuously meet the growing needs of our clients and to pursue our medium-term strategies.”

Metrobank’s net interest income rose by 8.71% to P114.12 billion last year from P104.97 billion in 2023. Interest income went up by 15.66% to P177.66 billion on higher interest earnings from loans and receivables, while interest expenses grew by 30.65% to P63.55 billion.

The bank’s increased interest earnings came on the back of a 17% expansion in its gross loans, it said.

“Commercial loans surged by 17.7% as corporates continued to increase capital spending. Consumer loans grew by 14.4% driven by an 18.6% rise in net credit card receivables and 18.2% growth in auto loans,” Metrobank said.

Even as its loan book expanded, the bank’s nonperforming loan (NPL) ratio improved to 1.43% in 2024 from 1.69% a year prior.

This allowed the bank to reduce its loan loss provisioning by 29.2% year on year. Still, its NPL cover remained high at 163.5%.

On the funding side, the bank’s total deposits rose by 8% year on year to P2.6 trillion, with low-cost current and savings accounts or CASA deposits making up 57.8% of the total.

This resulted in a loan-to-deposit ratio of 71.21% in 2024, up from 65.77% in 2023.

The bank’s net interest margin stood at 3.77% in 2024 versus 3.9% a year prior.

Meanwhile, Metrobank’s other operating income increased by 2.51% to P29.22 billion.

“Fee and trust income edged up to P18.1 billion supported by growth in consumer business. In addition, the bank booked a combined trading and foreign exchange gain of P5.6 billion in 2024, a 39% year-on-year improvement,” the bank said. 

The bank’s operating expenses rose by 10.99% to P77.16 billion due to increased transaction-related taxes, manpower, technology, and marketing costs.

Metrobank’s assets expanded by 13.38% to P3.52 trillion at end-2024 from P3.1 trillion a year prior.

Total equity went up by 8.09% to P396.41 billion from P327.73 billion. Its capital adequacy ratio was at 16.68%, while common equity Tier 1 ratio was at 15.94%.

The bank’s liquidity ratio was at 46.09%, while its liquidity coverage ratio stood at 256.1%.

Metrobank’s shares went up by 45 centavos or 0.63% to close at P72 apiece on Thursday. — A.M.C. Sy

Rekindling the Philippines’ memory of the war

Memorare Manila 1945 produces Battle of Manila documentary

CHILDREN of the War is a documentary film about survivors of the Battle of Manila, now in their 80s and 90s, as they recount the harrowing experiences they lived through as children and teenagers who witnessed the most brutal urban battle of the Pacific War.

Produced by Memorare Manila 1945, a foundation that aims to honor the 100,000 innocent non-combatant civilians who were killed in the Battle of Manila, the film was made in time for the 80th anniversary of the tragic event.

Its director, Mike Alcazaren, previously did 11,103, a documentary about survivors of Martial Law. With Children of the War, his purpose of filming shifted — from battling historical revisionism to capturing the last, firsthand memories of a war from eight decades ago.

“It started out as a short film, with the goal to get survivors on camera, since they are already getting old and dying,” Mr. Alcazaren told BusinessWorld in a voice call.

He explained that, in the process of looking for funding, they decided to expand it into a feature-length documentary. They started filming in May last year, while the foundation was still raising funds.

“The challenge was getting firsthand accounts. Memorare had a few leads, but most of them had passed on last year. After a lot of cold messages and calls, it was by chance that we found some,” he said.

FOR YOUNGER GENERATIONS
Fely Zafra-Reyes was the first source they got. A 96-year-old woman living in Padre Faura, Manila, the shoot was attended by family members who referred them to even more leads.

Some of their stories are horrific — witnessing parents, siblings, relatives, and friends mercilessly gunned down; women molested and murdered; men stabbed by bayonets or beheaded by swords.

However, it is important that these accounts are properly documented for future generations, Mr. Alcazaren said.

“I wanted their perspectives as children at the time, to make it real for younger generations. How do we make it more real for them? It has to be a firsthand account of what it feels like to be there,” he explained.

But even before approaching the subject matter as a documentary filmmaker, his interest in the Battle of Manila was piqued in the early 2010s, when his son was in grade school and their class needed a resource speaker to talk about World War II.

“My late father was a survivor of the Singalong district, where there were shellings and massacres,” said Mr. Alcazaren. “It was around 2012 and he was talking to grade schoolers about the houses they evacuated, the bloodshed, the escape. Interestingly, these kids were riveted, and the teachers were crying.”

Aside from having a strong educational curriculum that includes historical events like Martial Law and the Battle of Manila, the younger generations are best reached through pop culture, he said.

TV series like Pulang Araw on Netflix, and short-form online content on Facebook, YouTube, and TikTok made by the likes of The Filipino Story and history professor Xiao Chua are some examples.

“We just need to get the discussion going by putting out stories in formats that younger people will watch,” Mr. Alcazaren said.

WHAT’S NEXT
Children of the War will premiere on Feb. 23, 4 p.m., at the Metropolitan Theater in Manila, but its journey will not end there. Memorare Manila 1945 aims for the commissioned material to be used in curricula in schools and universities.

Mr. Alcazaren will also rework the documentary into a festival version, with the help of a grant from the Film Development Council of the Philippines.

“We’ll apply for more funding because it’s difficult to get more archival footage and make dioramas for reenactments. Part of the budget is also to get licenses for photos,” he explained.

While photos in the US National Archives are free for use as they are in the public domain, they are of low quality and it requires a fee to access the high-definition versions. There are also many powerful pictures from the Associated Press and the Library of Carl Mydans, an American photographer who covered the Battle of Manila.

Mr. Alcazaren told BusinessWorld that improving the documentary and going a festival route will reach a wider global audience.

“Documentaries do well in festivals. There are several documentary festivals, too, and we want to do that to get more attention to the story,” he said.

The Battle of Manila was the only battle in the Pacific theater of war that involved house-to-house combat, which is the worst kind to conduct. It is facts like these, according to the director, that are not well-known within the Philippines, and even less so in other countries.

He said that it should place a burden on Filipinos to give importance to Manila as a historic city. “It’s real proof of how Manila was never restored to its real glory pre-war,” he said. — Brontë H. Lacsamana

CEB to launch Ho Chi Minh flights from Cebu by April

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CEBU PACIFIC (CEB) is set to introduce direct flights between Ho Chi Minh City and Cebu by the second quarter, the budget carrier announced on Thursday.

“As Vietnam continues to grow in popularity among Filipino travelers, launching a new gateway to the country via Ho Chi Minh City is an exciting step for Cebu Pacific,” Cebu Pacific said in a media release.

The budget airline will begin operating direct flights to Ho Chi Minh City from Cebu on April 7, offering the service three times a week — every Monday, Wednesday, and Friday.

Cebu Pacific will continue exploring new destinations, allowing more passengers to visit the country, it said.

The company has said that it plans to expand its route network as part of its growth strategy while strengthening its hub outside Manila. 

The low-cost carrier also announced a “piso sale” from Feb. 20 to 24 for travel between April 7 and July 31.

The promotional base fare starts at P1 for a one-way ticket, exclusive of fees and surcharges. 

This year, Cebu Pacific expects to surpass last year’s passenger volume, driven by its expansion plans and efforts to strengthen its other hub, particularly in Clark. 

Currently, Cebu Pacific operates flights to 37 domestic and 26 international destinations across Asia, Australia, and the Middle East. — Ashley Erika O. Jose

EastWest Bank sees net income climb to all-time high of P7.6B

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EAST WEST Banking Corp. (EastWest Bank)’s net profit rose by 25% year on year to an all-time high of P7.6 billion in 2024 on the back of its core businesses.

The bank’s earnings performance last year was driven by “strong consumer loan expansion and robust deposit generation,” it said in a disclosure to the stock exchange on Thursday.

This translated to a return on equity of 10.8%, “marking a return to double-digit levels as the bank continued to expand its core income base,” it added.

In the fourth quarter alone, its net income surged by 47% year on year on strong revenues, it added.

Its financial statement was unavailable as of press time.

“EastWest’s strong financial performance is a result of our consistent drive for operational efficiency and customer-centric banking,” EastWest Bank President Jackie S. Fernandez said. “We have optimized our cost structure, enhanced our digital capabilities, and expanded our lending operations to better serve our customers. Our disciplined approach to managing risk and costs has allowed us to maintain a strong balance sheet while continuously improving the quality of service we provide.”

“Our strategic direction is clear — we are committed to scaling our consumer banking business, deepening customer relationships, and accelerating digital transformation,” EastWest Bank Chief Executive Officer Jerry G. Ngo said. “With a strong foundation, robust capital position, and market-leading margins, we are well-positioned to capitalize on growth opportunities. We will continue investing in technology, expanding our customer base, and strengthening our product offerings to sustain our momentum in the years ahead. The future is bright, and we are ready to go further.”

EastWest Bank’s total revenues increased by 19% to P42.4 billion in 2024.

Broken down, its net interest income went up by 19% to P33.5 billion last year.

This came on the back of a 16% expansion in consumer loans, which made up 82% of its loan portfolio last year.

Loans and receivables went up by 13% year on year to P336 billion as it saw a 38% growth in credit cards, a 17% rise in personal and salary loans, and a 5% increase in auto loans.

Deposits also grew by 8% to P385.4 billion, with its current and savings account or CASA deposits up making up 81% of the total.

“This solid funding base enabled EastWest to achieve an industry-leading net interest margin of 7.8%,” the bank said.

Meanwhile, non-interest income increased by 20% to P8.9 billion on higher transaction fees and trading gains.

On the other hand, EastWest Bank’s operating expenses rose by 16% to P23.5 billion due to higher manpower and IT costs, as well as lending-related expenses.

Its cost-to-income ratio improved by 160 basis points to 55.3% last year.

The bank’s assets grew by 13% to P523.7 billion at end-2024.

Its capital adequacy ratio was at 13.4%, while its common equity Tier 1 ratio stood at 12.7%.

“Capital ratios remain strong and supportive of future growth,” the bank said.

EastWest Bank expects its loans to continue growing by double digits this year, driven by demand for consumer products, officials earlier said.

It expects its consumer lending business to remain strong as it is bullish on the Philippine economy’s prospects, expecting robust demand for credit driven by the younger demographic.

The bank is also eyeing to issue peso bonds within the first semester as it seeks to diversify its funding sources.

EastWest Bank’s shares rose by eight centavos or 0.77% to end at P10.50 each on Thursday. — BVR

CA finds due process lacking in ‘unjust’ dismissal

PHILSTAR FILE PHOTO

THE Court of Appeals (CA) has ruled in favor of a former employee of a logistics company, declaring her dismissal illegal and reversing a prior decision by the National Labor Relations Commission (NLRC).

In a decision posted on Feb. 17, the appellate court’s thirteenth division ruled that JRS Business Corp. (JRS) failed to establish just cause for dismissing the petitioner and failed to comply with due process requirements.

“Having been unjustly dismissed, [the petitioner] is entitled to reinstatement without loss of seniority rights and other privileges, and to her full back wages, inclusive of allowances, and to other benefits or their monetary equivalent computed from the time her compensation was withheld,” according to the 38-page ruling written by Justice Mary Josephine D.P. Lazaro.

The court ordered JRS to pay the petitioner her unpaid salary for the period of preventive suspension without pay from June 29 to July 29, 2020, if unpaid; full back wages from her date of dismissal on July 29, 2020, until the finality of the ruling, less her suspension of three months; separation pay instead of reinstatement computed from the beginning of employment on Nov. 12, 2010 until the finality of this judgment; moral damages worth P50,000; exemplary damages of P50,000; and attorney’s fees of 10% of the monetary award.

It also ordered the company to pay a total monetary award subject to legal interest at the rate of 6% per year from the finality of the ruling until full payment.

The appellate court said a dismissal must be within the parameters of law and under the tenets of equity and fair play.

It said the Constitution looks with compassion on the working class and seeks to protect their rights.

“A worker’s employment is (a) property in a constitutional sense, and he/she cannot be deprived thereof without due process and unless the deprivation is commensurate to his/her acts and degree of moral depravity,” it noted. “An employer’s power to discipline his employees must not be exercised in an arbitrary manner as to erode the constitutional guarantee of security of tenure.”

An employer must be cautious in terminating the services of his employees, and dismissals must not be arbitrary and capricious, it added.

“Due process must be observed and employers should respect and protect the rights of their employees. To effect a valid dismissal, the law requires not only that there be just and valid cause, (but) it must also be supported by evidence.”

The tribunal also said the NLRC had gravely abused its discretion when it ruled against the petitioner, as its findings and conclusions were not supported by substantial evidence and its ruling was not in line with applicable law and jurisprudence.

“There is grave abuse of discretion where the power is exercised in an arbitrary or despotic manner by reason of passion, prejudice, or personal hostility amounting to an evasion of a positive duty or a virtual refusal to perform the duty enjoined, or to act at all in contemplation of law,” the court noted.

According to the court, an NLRC decision is final and not subject to appeal or review by the court. However, an exception is a review by the CA only in cases where there is grave abuse of discretion. 

When the appellate court reviews an NLRC decision, it is only limited to the question of whether the NLRC acted arbitrarily, whimsically or capriciously, in the sense that grave abuse of discretion is understood under the law, the rules and jurisprudence, it noted. — Chloe Mari A. Hufana

A Minute With: Author Lee Child about the hit Jack Reacher books and TV show

LONDON — The television series Reacher, based on the best-selling Jack Reacher books, returns for season three this week with the titular character going undercover.

The show, one of Prime Video’s most popular releases, stars Alan Ritchson as the former US military police major turned drifter, a character British author Lee Child first introduced in his 1997 debut novel Killing Floor.

Mr. Child has published 29 Jack Reacher books in total, the latter ones with his brother Andrew, and serves as an executive producer on the Reacher show.

In an interview with Reuters, Mr. Child spoke about season three, an adaptation of his seventh Reacher book Persuader, and what his famous hero means to him. 

Below are excerpts edited for length and clarity.

Q: How would you describe Reacher season three?

Child: It’s about the feel and it’s about the emotional core and the fear that we feel on behalf of Reacher because he’s undercover, he’s alone… He’s entirely isolated, literally on a promontory in the Atlantic Ocean, surrounded on every side by hostility.

Q: How do you decide which book to adapt for the show?

Child: It’s a random choice in a way… it’s like a reader can pick up any of the books and be entirely satisfied… They all stand alone. So, in a sense it can be random, but we try to impose some kind of logic to it, in that season one was really about Reacher’s emotional roots with his real family. Then season two was his emotional roots with his professional family. And season three, therefore, we can launch him on his own, the classic lone wolf Reacher and Persuader was a great story for that.

Q: What does Jack Reacher mean to you?

Child: A character like that I wrote absolutely personally, it was written for one person, which was me. I was losing my job. He was losing his job in the army. I was worried. He was not worried. It was about wish fulfillment. What would it be like to not be worried about things, to not be afraid of things, to not be nervous? What would it be like to be utterly confident in your life? And I think that’s something that we all can respond to on a very personal level.

Q: Given the long list of Jack Reacher books, do you see scope for growth for the TV series as well?

Child: Theoretically, we could do every book… and then write original stories. Historically, that’s unlikely. Not many things run for 30 plus years, but there’s still plenty of stuff we can use. And there are spin-off possibilities, too… There’s plenty of fertile ground there. I just feel like it’s a runaway horse and I’m trying to cling on and ride it as far as I can. — Reuters

CALAX Governor’s Drive Interchange launch moved to 2nd half

CAVITE-LAGUNA Expressway (Laguna section - Mamplasan entry) — LMP 2001

MPCALA HOLDINGS, Inc., a unit of Metro Pacific Tollways Corp. (MPTC), said it remains committed to opening the full stretch of the Cavite-Laguna Expressway (CALAX) within the year, although the expected opening of the Governor’s Drive Interchange has been pushed back to the second half. 

“We are committed to completing the entire stretch of CALAX by 2025. Its full opening will not only ease traffic and improve connectivity but also support economic growth by enhancing access to key areas in Cavite and Laguna,” MPCALA Holdings Officer-in-Charge Elnora D. Rumawak said in a media release on Thursday. 

The company said the construction of the Governor’s Drive Interchange, the longest segment of CALAX, is now 40% complete. It is expected to open in the second half of the year.

The 8.64-kilometer CALAX Governor’s Drive Interchange, which connects the Silang (Aguinaldo) Interchange to Governor’s Drive in General Trias, Cavite, is expected to ease traffic congestion in the area by linking Aguinaldo Highway in Silang with other major roads in Cavite.

The construction of the remaining sections of CALAX is also ongoing, MPCALA Holdings said, noting that Subsection 1 (Kawit Interchange) is now about 31% complete, while Subsection 2 (Open Canal Interchange) has reached 21.9% completion.

In September last year, the company said the Governor’s Drive Interchange was initially projected to open in the first quarter of this year, while the two other segments are scheduled to open in the third quarter of 2025.

MPCALA Holdings is the concessionaire of CALAX. It is a unit of Metro Pacific Tollways Corp., the toll road arm of Metro Pacific Investments Corp.

CALAX is a 45-kilometer, four-lane expressway with eight interchanges. Once fully operational, it is expected to serve at least 95,000 motorists daily.

MPCALA Holdings is a unit of Metro Pacific Tollways Corp., the toll road arm of Metro Pacific Investments Corp., one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., alongside Philex Mining Corp. and PLDT Inc. 

Hastings Holdings Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings Inc., holds a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose

Philippines slips to 53rd in Soft Power Index 2025

The Philippines fell a notch to 53rd out of 193 nations in the 2025 edition of the annual Global Soft Power Index by brand valuation consultancy firm Brand Finance. The Philippines had an overall score of 39.9 out of 100, a tad higher than a year earlier. The index measures “soft power” — the ability of a nation to influence others through persuasion and attraction. The stronger a nation’s soft power, the greater its ability to attract investments, market its products and services, promote tourism, and invite talent.

Philippines slips to 53<sup>rd</sup> in Soft Power Index 2025