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Redefining success among business dads: Balancing career ambitions and family life

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By Jomarc Angelo M. Corpuz, Special Features and Content Writer

Today’s culture often glorifies long work hours and accumulated wealth, equating career and financial achievements with personal worth. However, entrepreneurs, executives, and leaders who are also devoted fathers are starting to challenge these conventional definitions of achievement.

Increasingly, success for accomplished men is being reimagined to include presence at the dinner table, shared laughter during bedtime routines, and genuine emotional connections with their children. For decades, men were expected to climb the ladder, provide for the family, and let the rest fall into place, a path that leaves little to no room for connection, bonding, and parenting. The prevailing model for success often ties the father to economic output, with little emphasis on his presence at home or involvement in the daily lives of his children.

This struggle of balancing work and family life has been more apparent, as research suggests. In dual-income households, 60% of working dads report experiencing work-family conflict, compared to 47% of working mothers, highlighting how the traditional provider mindset still weighs heavily on men. That pressure often leads to regret: a 2013 Pew Research study found that nearly half of fathers feel they don’t spend enough time with their children, while only 23% of mothers said the same.

Despite this, a growing segment of working dads have realized that prioritizing family doesn’t come at the cost of career success. In fact, a study by the Families and Work Institute found that executives who give equal priority to work and family feel more successful, less stressed, and better equipped to handle both professional and personal demands.

These numbers speak volumes about the quiet pressures many fathers face in the workforce. While society has made strides in encouraging work-life balance, the data reveals that a significant percentage of men are still grappling with the emotional toll of missing out at home, and those who don’t miss out often thrive.

Studies have shown that parenthood, when supported by a healthy work-life balance, can significantly boost a father’s mental well-being. A report by the National Geographic suggests that involved fathers often experience greater feelings of compassion, deeper life fulfillment, and higher satisfaction with both job performance and overall balance.

In a survey by job board website Indeed released in 2019, 88% of dads said having a child changed how they viewed their career, with 87% citing different career goals and 77% developing new perspectives on corporate culture. These results reflect a broad reevaluation and shift of what success means to business and working dads, one that prioritizes purpose, flexibility, and presence.

There are even signs that these trends may be staying for good, not only for business dads but for fathers in general. A study published in the Journal of Marriage and Family in 2018 said that fathers are spending three times as much time with their children as they help their partners in attending to the needs of their kids, whether schooling, playtime, bedtime, or looking after their overall health.

Additionally, the study concluded that enabling fathers to take more part in childcare through work-family balance “should bring moderate to high gains to their children in terms of cognitive functioning.”

Easing the pressure of fatherhood

Despite these shifts in mindset, workplace structures are refusing to acknowledge the new culture and are lagging behind. According to the Indeed survey, new dads receive an average of seven weeks of leave, but many believe 10 weeks would be more appropriate to support their families and adjust to their new role. Even before a child enters the picture, more than half of the future dads in the respondents consider a company’s paternity leave policy as a serious factor in their career decisions. This signals a growing demand for family-conscious corporate practices that forward-thinking employers can no longer afford to ignore.

A few companies have already adopted this concept worldwide. Last February, JTI Philippines, a manufacturing plant based in Batangas, rolled out a forward-thinking family leave policy that grants 20 weeks of fully paid leave to employees welcoming a child, regardless of their gender, sexual orientation, or how they became parents.

Furthermore, while many dads acknowledge the difficulty of balancing work and home, they are 30% less likely than working moms to say so. This shows internalized pressure to “push through” or avoid admitting strain, remnants of the culture that equates self-worth with relentless achievement. Alarmingly, though, working moms are still twice as likely to report doing most of the chores and childcare at home. This imbalance can create blind spots in the way fathers perceive their involvement, well-intentioned but still distant from full equity.

To truly support working dads, and by extension, working families, employers must acknowledge what they need and go beyond surface-level gestures. Sixty percent of surveyed fathers said companies should formalize flexible hours specifically for parental obligations, like attending a school play or a doctor’s appointment.

An equal number supported policies that let parents use sick days when their children are ill, recognizing the emotional labor of caregiving. Likewise, 53% of dads believe that greater flexibility to work from home is important, not just as a post-pandemic benefit, but as a permanent part of parenting-supportive work culture.

Unfortunately, existing policies also fall short in fully supporting the modern father’s role in parenting. In the Philippines, paternity leave entitles eligible male employees to seven days of paid leave, provided they are legally married to and living with their pregnant spouse. Unlike maternity leave, which is covered by the Social Security System (SSS), paternity leave is shouldered by the employer, making it a little more difficult for employers to grant. These policies, although a step in the right direction, highlight the need for broader support systems that recognize and empower the evolving role of fathers in parenting.

As the next generation of fathers comes of age, an influx of business dads will emerge, role models who will show that it is not only possible, but commendable, to pursue professional goals while prioritizing family life. When that time comes, business success will no longer be measured solely in profit, but in impact that will include the strength of relationships, the well-being of teams, and the legacies left at home.

Addressing burnout among fathers

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Burnout among parents is a common occurrence, but for fathers in particular, it often goes unspoken and under-addressed.

According to the American Psychological Association, burnout often begins with a sense of constant physical and emotional exhaustion. Parents describe feeling overwhelmed and depleted. Over time, that exhaustion can lead to emotional distancing.

Eventually, parents reach a point where they no longer find joy. This stage, experts said, is when the damage spreads to mental health, family relationships, and even children’s well-being.

“Burnout is the result of too much stress and the absence of resources to cope with it,” said psychologist Isabelle Roskam, who has studied more than 17,000 parents across 42 countries.

Studies show that parents experiencing burnout are more likely to report feelings of shame, guilt, and despair. Some experience thoughts of escape or even suicide. Others engage in behavior they later regret, such as yelling or using punitive discipline with their children, even when they deeply oppose it.

With burnout, fathers may withdraw from their parental responsibilities, not because they do not care, but because they feel unable to give more. Social expectations around masculinity may also make it harder for men to talk openly about stress or seek support. They may fear being seen as weak or believe they should “tough it out.” That mentality can worsen burnout.

Lisa Coyne, a psychologist at McLean Hospital and Harvard Medical School, said some parents already face chronic stress. Single fathers, fathers of children with special needs, and immigrant fathers are especially at risk.

“If there are groups already experiencing prolonged stressors, they are going to be more vulnerable to mental health issues and burnout,” Ms. Coyne said.

Struggle for working fathers

This emotional burden becomes even more complicated when fathers must also balance full-time work, as the dreams of having a thriving career and a connected family life do not always reconcile for working fathers. According to the Harvard Business Review, most working fathers are realizing their careers no longer align with what they value most at home. Now, they are trying to adjust without losing the ground they have worked hard to gain.

A report from Maven Clinic shows that 24% of employees have taken extended leave or career breaks due to burnout. Another 41% said they would leave their current jobs for better family health benefits. These figures highlight a growing disconnect between what employers offer and what modern fathers need.

Still, many fathers want to provide well and excel at their jobs. However, they are beginning to question the value of professional success if it comes at the cost of only catching up with their children through a phone call, according to the Harvard Business Review.

The American Psychological Association stated that burnout often causes fathers to feel detached from the things they care about. Experts recommend finding ways to reconnect not only with their children but also with their personal values.

“Plan something simple with your child,” said Dr. Debbie Sorensen, a Denver-based psychologist. “Go for ice cream, play a game, or just sit and talk. Then remind yourself what you love about your child — and what you are good at as a father.”

These moments do not erase burnout, but they can provide emotional grounding during challenging times.

Another study titled “A Matter of Time: Father Involvement and Child Cognitive Outcomes” found that children benefit when fathers engage in daily caregiving. The researchers said many fathers want to share parenting responsibilities equally with their partners, but workplace expectations often interfere.

Though many fathers wish to take on more caregiving duties, their ability to do so still depends on support from their employers. The study suggests that stronger work-family balance policies would enable more fathers to participate in caregiving, which would benefit children in the long term. — Mhicole A. Moral

First Gen eyes up to $25-million solar spend in Batangas

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LOPEZ-LED First Gen Corp. is looking to invest up to $25 million (around P1.39 billion) in a solar project in Batangas that could generate up to 50 megawatts (MW) of electricity, a company official said.

“Hopefully, we are able to spend about $20 million-$25 million for the ongoing project,” First Gen Senior Vice-President and Chief Financial Officer Emmanuel Antonio P. Singson told reporters on May 29.

Mr. Singson said the company is currently working to secure the necessary permits for the Inara solar power project.

“We have to increase our investment in solar and wind just to be at the same level of electricity production as a geothermal plant,” First Gen President and Chief Operating Officer Francis Giles B. Puno said.

The company earlier disclosed plans to pursue a 50-MW first-phase solar facility in Batangas, to be followed by a 100-MW expansion.

The combined capacity is intended to serve the renewable energy supply needs of the province and the adjacent First Philippine Industrial Park.

Aside from solar power, First Gen is also looking to expand its wind energy platform, with planned developments in Burgos, Ilocos Norte, and other areas with concessions.

At present, the company has a total installed capacity of 3,668 MW from its portfolio of plants powered by geothermal, wind, hydro, solar, and natural gas.

“All of these — every investment, every innovation — form part of our strategy to grow our low-carbon and renewable energy portfolio to 13 gigawatts by 2030, in line with the DoE (Department of Energy) Philippine Energy Plan,” Mr. Puno said.

To support this strategy, the company has earmarked a capital expenditure budget of $601 million (around P33.5 billion), with the majority allocated to geothermal-related activities.

For the first quarter, First Gen reported a 4.4% increase in attributable net income to $82.3 million, driven by lower operating expenses. — Sheldeen Joy Talavera

Telco operators urge review of open-access measure

STOCK PHOTO | Image by terimakasih0 from Pixabay

By Ashley Erika O. Jose, Reporter

THE Philippine Chamber of Telecommunications Operators (PCTO) is seeking a thorough review of the Konektadong Pinoy bill, warning that some provisions could undermine regulatory oversight and pose risks to national security and fair competition.

“We support providing broader connectivity to all Filipinos. However, the bill lowers the bar for accountability and opens the country to risks tied to unregulated infrastructure and potential foreign control,” PCTO President and Globe Telecom, Inc. General Counsel Froilan M. Castelo said in a media release on Thursday.

The bill is now up for President Ferdinand R. Marcos, Jr.’s signature, after senators and congressmen separately ratified the priority measure through voice votes during their respective plenary sessions on Monday.

While the PCTO supports the measure’s objective of expanding internet access across the country, it warned that the version passed by the bicameral conference committee could create national vulnerabilities and weaken regulatory oversight.

“PCTO urges the administration to closely review the measure before signing and to ensure that its implementing rules establish clear, enforceable guardrails — ones that promote real digital inclusion, ensure national security, and preserve a fair and future-ready industry,” the group said.

Under the bicameral version of the bill, the State will adopt an open-access policy to create a more accessible and competitive environment for all qualified participants across the entire data transmission network, while encouraging investments in digital infrastructure to support reliable and affordable data services.

“We welcome increased competition, but the competition must be fair and sustainable. We must avoid competition that will be ruined and will just harm our subscribers. There are features in the Konektadong Pinoy that will be exploited and could result in ruinous competition,” PLDT Inc. Director, Corporate Secretary, and Senior Legal Advisor to the Chairman Marilyn A. Victorio-Aquino said during the company’s annual stockholders’ meeting.

Under the measure, new data transmission entrants are no longer required to secure a legislative franchise or a certificate of public convenience and necessity, which the PCTO described as the key filter historically used to assess legal, financial, technical, and cybersecurity readiness.

Ms. Victorio-Aquino said that telecommunications (telco) companies such as PLDT are obligated to build infrastructure to support and improve services.

“There is no such obligation imposed on new entrants involved in data transmission. They will come in, and the law opens all our assets to them. Where is the symmetry there? What will it take for us to continue building if the infrastructure we build will just be opened to these players?” she said.

Mr. Castelo said the removal of such requirements raises both national security and fairness concerns.

“This creates a two-tier system. Existing players remain subject to full regulation, while new entrants operate with fewer checks,” he said.

“You cannot claim to be technology-neutral and at the same time give one technology a free pass. The provision requiring satellite services to apply for NTC [National Telecommunications Commission] spectrum use was removed in the final version. That opens a dangerous backdoor,” Mr. Castelo said.

Under the bill, the Department of Information and Communications Technology (DICT) is mandated to formulate policies that promote an open-access approach and foster healthy competition among internet service providers.

The DICT did not immediately respond to a request for comment.

“The Konektadong Pinoy bill is the courageous legal hammer that will smash the monopoly of big telcos which have lamentably neglected the full development of the Philippines’ telecoms infrastructure for several decades,” Samuel V. Jacoba, founding president of the National Association of Data Protection Officers, said via Viber.

The removal of the required congressional franchise for players, mandatory resource sharing among operators, and democratization of the telecommunications’ spectrum will bring a positive outcome for the country in the long run, he said.

Mr. Jacoba also said the cyber threats that may arise from this measure can be mitigated by proactive implementing rules and regulations and constant monitoring by the regulators.

“Bottomline, the whole country will benefit from this shift in the status quo in the telco industry. The country cannot afford to wait for its digital infrastructure, which should’ve been world class a long time ago,” he added.

“As for the concerns raised by telcos regarding national security and connectivity expansion, we believe these should not be used as smokescreens to resist greater public investment and accountability in the sector,” Ronald B. Gustilo, national campaigner for Digital Pinoys group, said in a Viber message.

The issues raised by the telecommunications operators were valid but there are ways to address them, Mr. Gustilo said, adding that the government must ensure proper procurement and cybersecurity protocols are enforced, while connectivity expansion should not be monopolized by a few major players.

“The bill can serve as a catalyst for fairer competition by supporting smaller and community-based internet service providers. We must keep in mind that the digital divide is also a threat to national security. By investing in government-led infrastructure, we are not only empowering citizens but also safeguarding our digital sovereignty,” he said.

The bill, which is among the administration’s priority measures, aims to increase internet access by relaxing regulations and allowing the entry of more players into the data transmission industry.

The final version exempts international gateway facilities, cable landing stations, and satellite service providers from legislative franchise requirements. This means any company may build and operate such facilities without going through the safeguards historically used to ensure national security.

The measure also directs the State to pursue plans that incentivize participants in the data transmission industry to invest in, adopt, roll out, implement, establish, own, maintain, operate, or utilize new and next-generation technologies, with priority given to unserved or underserved areas.

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.

Bagets the Musical to open auditions in July

THE HIT 1984 coming-of-age comedy film Bagets will be revived through a stage adaptation, Bagets the Musical. Open auditions for the show will begin in late July, its producers have announced.

“We are looking for triple threats, those who can sing, dance, and act,” said Maribel Legarda, set to direct the musical, at a press conference in Ortigas on Wednesday.

“The cast will have a mix of new and more experienced talents. We’re really looking for a mixture of sizes, personalities, and energies,” she said.

The coming-of-age musical centers on five friends, played in the original film by Aga Muhlach, William Martinez, JC Bonnin, Herbert Bautista, and Raymond Lauchengco.

Set to arrive in 2026, the theater project will be mounted by the Philippine Educational Theater Association (PETA) at the Newport Performing Arts Theater at Newport World Resorts.

It is produced by Viva Communications, Inc., and the Philstar Media Group through Philstar Next, the group’s division that handles ventures beyond news publishing. The Philstar Media Group is composed of The Philippine STAR, Pilipino STAR Ngayon, Pang-Masa, The Freeman, Banat, and BusinessWorld.

Philstar Media Group Executive Vice-President Lucien C. Dy Tioco said that they decided on this as Philstar Next’s first project because of its intergenerational appeal, with “the impact of the ’80s as a nostalgic return for Gen X and a point of curiosity and fascination for Gen Z.”

“We’re hoping that the younger generations would take great interest because I see a lot of love for vintage among them,” Mr. Dy Tioco said. “There’s a curiosity for analog.”

For Jmee Katanyag, the playwright for Bagets the Musical, audiences can expect the same storyline with all the iconic barkada moments and sing-and-dance numbers to make it to the play.

“Along with the nostalgia for coming-of-age and misadventures in love will be an invitation to reflect. We will tackle serious issues but in a fun way,” she explained.

She added that Vince Lim, the musical director, is coordinating with Philstar and Viva on the songs that will be in the production. So far, they are working on “a mix of foreign party songs, OPM ballads, and a few original songs.”

On PETA’s part, Bagets the Musical is an opportunity to allow Filipinos to “rediscover the gem that is Bagets, and to discover the power of the stage,” according to its executive director, Anj Heruela.

Ms. Legarda shared that people can expect “the ’80s on steroids” in terms of color, movement, and style, but also reflecting the Filipino psyche connected with a strong sense of family.

“We’re really bridging art, aesthetic, and forms, which are always repeating and resetting over time,” she said.

Open auditions will begin in late July until August. For more information, visit PETA’s website at https://petatheater.com/. — Brontë H. Lacsamana

Central bank with a dual role?

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(Last of two parts)

We reiterate what we started with in the last column, and that is the crucial role of good governance in economic management. Weakening the Philippine peso is not the most important economic reform especially under our current circumstances.

It’s interesting that ANZ Research’s latest report also proposed to the Philippine monetary authorities that they “should consider a more competitive exchange rate.” However, it failed to help clarify how making the peso more competitive could “boost exports, attract investment and support a shift toward productivity-led growth” beyond saying that a noncompetitive peso “caused domestic industries to sharply decline as the real appreciation of the currency made imports cheaper.”

Let’s talk about the real exchange rate of the peso.

Indeed, it is not exactly the peso’s nominal exchange rate relative to the US dollar that is relevant in assessing the dynamics of our external payment position. It is the peso’s real effective exchange rate (REER). Let it be made clear that the real appreciation of the peso is not driven exclusively by nominal exchange rate adjustments, no matter how large, but also by domestic inflation against those of other countries. Domestic inflation climbs when the weak currency makes imports more costly. This is apart from how other trading economies’ currencies are behaving. Off hand, we need to caution ourselves against the potential of competitive devaluation among us in Asia, or even among the leading currencies.

A deliberate weakening of the peso will not even make a dent in how our trading partners’ currencies will move one way or the other. Bangko Sentral ng Pilipinas (BSP), no matter how smart it is, cannot elevate the other countries’ inflation rate to make the differential move in the Philippines’ favor.

In the past six years, the peso’s REER, as computed and released publicly by the BSP, appreciated five times, with some depreciation only in 2022. From 2019 through 2021, it was the strong peso — it firmed up from P51.80 a dollar in 2019 to P49.60 in 2020 to P49.20 in 2021 — that would explain the loss in competitiveness. Not to be missed, the increase in the inflation rate from 2.4% in 2020 to 3.9% in 2021 also contributed to that loss. In 2022, the peso became more competitive in real terms when it weakened to P54.50 a dollar, depreciating by over P5 or nearly 10%. But we also saw a significant jump in the domestic inflation rate from 3.9% to 5.8%. The inflationary movement continued in 2023 despite the sustained weakening of the peso, REER took a reversal, resulting in a loss of competitiveness. The weakening of the peso-dollar rate in 2024 failed to arrest the REER depreciation, even as the inflation rate began to ease. We need to know that the inflation rates in other countries have remained generally moderate.

Obviously, external competitiveness is not just a function of nominal exchange rates but is also driven by price movements that could in turn surge due to currency weakening. Undermining the currency initially motivates some gains in competitiveness, but this could just be more than dampened by higher inflation.

Yes, weakening the currency could initially encourage more exports and discourage more imports. But since a great bulk of our exports are import-dependent, there is no guarantee that such a policy could bring net benefits to the economy. We need no less than a restructuring of our production and distribution system, as well as logistics and finance. Nonmonetary public policy should focus on productivity-enhancing expenditure on infrastructure, quality public health and education, and greater research and development to usher in IT-driven innovation in all sectors of the economy.

The other challenge to a competitive peso policy, even to achieve what ANZ Research calls “a mildly undervalued exchange rate, whenever possible,” is that the exchange rate, being a price of a currency relative to other currencies, simply reflects global economic and financial realities.

Today, the peso is strong because the US dollar is undeniably weak.

How does one solve the fundamental flaw in the Trump policies of taxing US imports to support corporate tax cuts, abet military conflict and sell military hardware, and spend billions of dollars maintaining numerous military bases across the world, not to mention billions of dollars spent on intelligence work? This is beyond us, and this is beyond the monetary policy of the BSP.

How does one prevent the sell-off of US global bonds by the big economies, accelerating as it does on the heels of a US Treasury debacle? It is difficult to arrest such a sell-off because the US fiscal trajectory is not exactly comforting to investors in US Treasuries. Investors could only expect further deterioration in the US fiscal deficit as Moody’s downgraded US credit ratings. Repricing risks has resulted in further weakening of the US currency, and as expected, the peso and other currencies’ exogenous appreciation. This is beyond us, and this is beyond the monetary policy of the BSP.

How does one expect the Philippine central bank to sustain engineering the weakness of the peso by, say, P5-P10 or more than 10% and defy market forces? This means we want the BSP to buy and accumulate billions of dollars in reserves and flood the market with pesos. In effect, the BSP would be crowding out private sector demand for US dollars and amplify the market’s preference for pesos. This could be seriously inflationary. Imports would be many times more expensive, especially imported food and fuel commodities. While exporters would receive some windfall due to the peso depreciation, they would also have to face the challenge of costly inputs and higher cost of external debt service. Many corporates and the National Government in aggregate owe around $138 billion or 30% of GDP.

The risk of this collateral impact of a weak currency and higher debt service needs is the possible erosion of investor confidence. Last week, we highlighted the fruitless depreciation of the local currency — exports failed to improve, while imports continued to surge. The evidence is not conclusive. When investor confidence falls, it would be a tall order building it up again.

No wonder, even the ANZ Research itself recognized that such a strategy “carries risks.”

Some quarters believe that to help bring this about, Congress should pass a law amending the BSP charter to dilute its primary mandate of keeping prices stable by assigning it as well as the responsibility of promoting growth and full employment. This must be based on the wrong notion that if monetary policy is too focused on inflation management, economic growth and employment are likely to fall below the potential growth of the economy. Financial markets are claimed to be likely less stable. Congress should be properly advised that this is a dangerous proposition.

Monetary management is more than simply a matter of choosing from a schedule or combination of a little or more inflation or employment. Monetary policy that leverages employment and growth at the expense of higher inflation would simply perpetuate higher inflation with very feeble gains in jobs and output.

Many central banks with dual roles in economic management were hamstrung precisely by these competing goals of promoting growth and employment normally by an accommodative monetary policy and maintaining price stability through cautious monetary policy. Many end up achieving neither of these goals.

Economic history and empirical evidence show that central banks can best help in economic management toward higher economic growth and a stable financial system through a strong commitment to price stability. Contrary to some misrepresentation, there is little evidence, and this is always denied, that expansionary monetary policy can expand economic growth and job opportunities. Likewise, no one can claim that high inflation encourages financial stability.

Latin America is replete with country experiences with runaway inflation and how it devastated their financial system and undermined their real economy. On the other hand, the US Fed, despite having dual roles, focused on price stability and succeeded in keeping it. The variability of output was reduced in the 1990s and the first six years of the 2000s. With inflation expectations in the US well-anchored, the US Fed acquired the flexibility to provide liquidity to the financial system and reduce the cost of money via lower interest rates.

Our experience in the 1980s should never be forgotten that culminated in our own Congress abolishing the old Central Bank of the Philippines (CBP) and replacing it with the new BSP, with the primary mandate of promoting price stability. The old CBP, aside from its mandate to promote monetary stability, was also saddled with the responsibility of preserving the international value of the peso and its convertibility, as well as promoting output, employment and income!

The transition to a singular mandate was in keeping with the modern trend in central banking with a singular role and independence.

An independent BSP with a focus on stable prices has demonstrated such good convergence between a firm commitment to low and stable inflation and high and sustainable economic growth, as well as a strong banking system. In the past 10 years with price stability, economic growth has been steady and sustainable, with both unemployment and underemployment down from 15-20 years earlier.

Finally, the public should be disabused of this idea that central banks, like the BSP, are compelled to restrict inflation to near 0 when its target is between 2-4%, and in the process kill the economy. But our monetary authorities have been wiser in that they exercised sound judgment and discipline to ensure that inflation does not swing to either extreme. The BSP has not been always correct in its forecasts and decisions, but because of its demonstrated competence and integrity, the public trusts that during such instances, the BSP will rectify its mistakes, pick up the pieces and keep its eye on the ball.

This is what matters.

 

Diwa C. Guinigundo is the former deputy governor for the Monetary and Economics Sector, the Bangko Sentral ng Pilipinas (BSP). He served the BSP for 41 years. In 2001-2003, he was alternate executive director at the International Monetary Fund in Washington, DC. He is the senior pastor of the Fullness of Christ International Ministries in Mandaluyong.

PSE to involuntarily delist Philab Holdings on July 11

PHILIPPINE STAR/KJ ROSALES

THE PHILIPPINE Stock Exchange, Inc. (PSE) is set to involuntarily delist the shares of healthcare firm Philab Holdings Corp. on July 11 due to noncompliance with the exchange’s rules.

“The delisting of the company’s shares shall take effect 30 calendar days from the date hereof or on July 11, 2025,” PSE President and Chief Executive Officer Ramon S. Monzon said in a document dated June 11 posted on the market operator’s website.

“Please be informed that, following the conduct of involuntary delisting proceedings involving the company, the exchange resolved to delist the company’s shares from the official registry of the exchange and impose the concomitant penalties under the exchange’s delisting rules,” he said.

Trading in Philab’s shares has been suspended since May 2018 after the PSE rejected the company’s 2017 annual report due to its receivables from the Department of Education.

The company has received additional sanctions from the PSE for its failure to comply with the submission of required filings, such as quarterly and annual reports.

One of the grounds for delisting is the repeated failure of the company to make “timely, adequate, and accurate” disclosures of information or to submit any reportorial requirement.

Incorporated in 2000, Philab is listed on the small, medium, and emerging board of the PSE. The company, formerly known as iRipple, Inc. and later as Alterra Capital Partners, Inc., was renamed Philab after Alterra Capital acquired a 93.48% interest in healthcare and life science equipment supplier Philab Industries, Inc. in 2016. — Revin Mikhael D. Ochave

Beach Boys founder Brian Wilson, 82

BEACH BOYS cofounder Brian Wilson, who created some of rock’s most enduring songs such as “Good Vibrations” and “God Only Knows” in a career that was marked by a decades-long battle between his musical genius, drug abuse and mental health issues, has died at the age of 82.

Mr. Wilson’s family announced his death in a statement on the singer’s website.

“We are at a loss for words right now,” the statement said. “We realize that we are sharing our grief with the world.”

The statement did not disclose a cause of death. Mr. Wilson had suffered from dementia and was unable to care for himself after his wife Melinda Wilson died in early 2024, prompting his family to put him under conservatorship.

Starting in 1961, the Beach Boys put out a string of sunny hits celebrating the touchstones of California youth culture — surfing, cars and romance. But what made the songs special was the ethereal harmonies that Mr. Wilson arranged and that would become the band’s lasting trademark.

Mr. Wilson formed the band with younger brothers Carl and Dennis, cousin Mike Love and friend Al Jardine in their hometown, the Los Angeles suburb of Hawthorne. They went on to have 36 Top 40 hits, with Mr. Wilson writing and composing most of the early works.

Songs such as “Little Deuce Coupe,” “Surfin’ U.S.A.,” “California Girls,” “Fun, Fun, Fun” and “Help Me, Rhonda” remain instantly recognizable and eminently danceable.

But there were plenty of bad vibrations in Mr. Wilson’s life: an abusive father, a cornucopia of drugs, a series of mental breakdowns, long periods of seclusion and depression and voices in his head that, even when he was on stage, told him he was no good.

“I’ve lived a very, very difficult, haunted life,” Mr. Wilson told The Washington Post in 2007.

In May 2024, a judge ruled the 81-year-old Mr. Wilson should be put under a conservatorship after two longtime associates had petitioned the court at his family’s request, saying he could not care for himself following the death of his wife, Melinda.

By 1966 touring had already become an ordeal for Mr. Wilson, who suffered what would be his first mental breakdown. He remained the Beach Boys’ mastermind but retreated to the studio to work, usually without his bandmates, on Pet Sounds, a symphonic reflection on the loss of innocence.

The landmark “Good Vibrations” was recorded during those sessions, though it did not make it to the album. Though Pet Sounds included hits such as “Wouldn’t It Be Nice,” “Sloop John B” and “God Only Knows,” it was not an immediate commercial success in the United States. There also was resistance to the album within the band, especially from singer Mr. Love, who wanted to stick with the proven money-making sound.

‘IT’S LIKE FALLING IN LOVE’
Pet Sounds, which was released in 1966, later would come to be recognized as Mr. Wilson’s magnum opus. Paul McCartney said it was an influence on the Beatles’ Sgt. Pepper’s Lonely Hearts Club Band. “No one’s musical education is complete until they’ve heard Pet Sounds,” Mr. McCartney said.

In 2012 Rolling Stone magazine ranked it second only to Sgt. Pepper on its list of the 500 greatest rock albums.

“Hearing Pet Sounds gave me the kind of feeling that raises the hairs on the back of your neck and you say, ‘What is that? It’s fantastic,’” George Martin, the Beatles’ legendary producer, said in the liner notes of a reissued version of the album. “It’s like falling in love.”

Released as a single that same year, “Good Vibrations” drew similar plaudits. On hearing the song, which would become the Beach Boys’ greatest hit, Art Garfunkel called his musical partner Paul Simon to say: “I think I just heard the greatest, most creative record of them all.”

Stars of the music world paid tribute to Mr. Wilson on Wednesday.

“Anyone with a musical bone in their body must be grateful for Brian Wilson’s genius magical touch!!,” Fleetwood Mac drummer Mick Fleetwood said on social media.

Nancy Sinatra, who recorded a cover of “California Girls” with Mr. Wilson in 2002, wrote on Instagram that Mr. Wilson’s “cherished music will live forever.”

Sean Ono Lennon, a musician and son of John Lennon, called Mr. Wilson “our American Mozart” and “a one-of-a-kind genius from another world.”

The Beach Boys sold more than 100 million records.

Mr. Wilson’s career would be derailed, though, as his use of LSD, cocaine and alcohol became untenable and his mental state, which would eventually be diagnosed as schizoaffective disorder with auditory hallucinations, grew shakier.

He became a recluse, lying in bed for days, abandoning hygiene, growing obese and sometimes venturing out in a bathrobe and slippers. He had a sandbox installed in his dining room and put his piano there. He also heard voices and was afraid that the lyrics of one of his songs were responsible for a series of fires in Los Angeles. 

UNORTHODOX THERAPY
Born in June 1942, Brian Wilson, whose life was the subject of the 2014 movie “Love & Mercy,” had two controlling men in his life. The first was his father, Murry Wilson, a part-time songwriter who recognized his son’s musical talent early. He became the Beach Boys’ manager and producer in their early years but also was physically and verbally abusive toward them. The band fired him in 1964.

About a decade later, as Mr. Wilson floundered, his then-wife, Marilyn, hired psychotherapist Eugene Landy to help him. Mr. Landy spent 14 months with Mr. Wilson, using unusual methods such as promising him a cheeseburger if he wrote a song, before being dismissed.

Mr. Landy was rehired in 1983 after Mr. Wilson went through another period of disturbing behavior that included overdosing, living in a city park and running up substantial debt. Mr. Landy used a 24-hour-a-day technique, which involved prescribing psychotropic drugs and padlocking the refrigerator, and eventually held sway over all aspects of Mr. Wilson’s life, including serving as producer and co-writer of his music when he made a comeback with a 1988 solo album.

Mr. Wilson’s family went to court to end his relationship with Mr. Landy in 1992. Mr. Wilson said Mr. Landy had saved his life but also would later call him manipulative. California medical regulators accused Mr. Landy, who died in 2006, of improper involvement with a patient’s affairs. He gave up his psychology license after admitting to unlawfully prescribing drugs.

Mr. Wilson’s return to music was spotty. He appeared frail, tentative and shaky and none of the post-comeback work brought anything close to the acclaim of his earlier catalog.

One of the best-received albums of his second act was the 2004 Brian Wilson Presents Smile, a revisiting of the work that had been intended as the follow-up to Pet Sounds but which was scrapped because of opposition from bandmates.

Mr. Wilson’s brothers had both died by the time of the Beach Boys’ 50th reunion tour in 2012 but he joined Mr. Love, who became the band’s controlling force, for several shows. In the end, Mr. Wilson said he felt as if he had been fired but Mr. Love denied it. Mr. Wilson last performed live in 2022.

Mr. Wilson and his first wife, Marilyn, had two daughters, Carnie and Wendy, who had hits in the 1990s as part of the group Wilson Phillips. He and his second wife Melinda, whom he met when she sold him a car, had five children. — Reuters

Cautious optimism seen after new US-China deal

PHILIPPINE STAR/WALTER BOLLOZOS

PHILIPPINE MARKETS could post some gains after the United States and China agreed to extend their tariff truce, but the optimism may be short-lived as investors remain cautious due to the ever-shifting trade dynamics between the world’s two largest economies.

“It’s (this week’s deal) a positive development, but investors will wait and see whether it holds and actually becomes a definitive agreement. A lot of the deeper and more fundamental trade issues also remain unresolved, so it’s too early to expect any material and durable change in investor sentiment,” China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.

“In the short term, a second attempt at a US-China trade truce could bring mild optimism to financial markets but unlike earlier rounds, markets may respond more cautiously this time. Markets have become more measured and wary. They have seen similar truce attempts fail before, so confidence will depend on whether structural commitments (tariff rollbacks or tech transfers) are made,” Philippine Institute for Development Studies Senior Research Fellow John Paolo R. Rivera said in a Viber message.

Mr. Rivera said Philippine stocks could rise when the market reopens on Friday as a reaction to the latest US-China deal. Philippine financial markets were closed on June 12 (Thursday) for the Independence Day holiday.

“The PSEi (Philippine Stock Exchange index) may see short-lived gains, especially in export-related and logistics stocks, as easing trade tensions can boost global demand. However, investors are likely more skeptical now and may wait for concrete progress,” he said.

The peso could likewise strengthen “due to improved sentiment and potential dollar weakness.”

“But the peso’s trajectory will still be shaped more by local inflation and BSP (Bangko Sentral ng Pilipinas) rate expectations,” Mr. Rivera said. “GS (government securities) yields may hold steady or slightly decline if global risk sentiment improves and capital flows into emerging market bonds, but local inflation data and fiscal outlook remain the dominant drivers.”

Mr. Colet likewise said that markets are expected to pay more attention to the Philippine and US central bank’s easing paths, as both will hold policy meetings next week.

US President Donald J. Trump on Wednesday said he was very happy with a trade deal that restored a fragile truce in the US-China trade war, a day after negotiators from Washington and Beijing agreed on a framework covering tariff rates, Reuters reported.

The deal also removes Chinese export restrictions on rare earth minerals and allows Chinese students access to US universities.

Earlier, Mr. Trump used his social media platform to offer some of the first details to emerge from two days of marathon talks in London that had, in the words of US Commerce Secretary Howard Lutnick, put “meat on the bones” of an agreement reached last month in Geneva to ease bilateral retaliatory tariffs that had reached crushing triple-digit levels.

“Our deal with China is done, subject to final approval with President Xi and me,” Mr. Trump said on Truth Social. “Full magnets, and any necessary rare earths, will be supplied, up front, by China. Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!). We are getting a total of 55% tariffs, China is getting 10%.”

A White House official said the 55% represents the sum of a baseline 10% “reciprocal” tariff Mr. Trump has imposed on goods imported from nearly all US trading partners; 20% on all Chinese imports because of punitive measures Mr. Trump has imposed on China, Mexico and Canada, associated with his accusation that the three facilitate the flow of the opioid fentanyl into the US; and pre-existing 25% levies on imports from China that were put in place during Mr. Trump’s first term in the White House.

Still, many specifics of the deal and details on how it will be implemented remain unclear.

The dollar slid on Thursday on heightened expectations of Federal Reserve rate cuts this year and lingering uncertainty over tariff battles.

Uncertainty over what comes next for global trade, alongside scant details of a framework agreement reached between the US and China this week, dampened the overall mood in markets and gave investors more reasons to sell the dollar.

The broad fall in the greenback on Thursday pushed the euro to a seven-week high early in the session, before the common currency pared some gains to last trade at $1.1515.

Sterling rose 0.34% to $1.3583, while the yen climbed 0.4% to 143.95 per dollar.

Against a basket of currencies, the dollar fell to its weakest since April 22 at 98.284.

Also keeping pressure on the greenback was data from Wednesday which showed US consumer prices rose less than expected in May, leading traders to ramp up bets of a Fed cut as early as September.

The overall consumer price index (CPI) for last month rose by 2.4% relative to May 2024, a touch above the April year-over-year reading, while the CPI stripped of food and energy costs was up by 2.8% over the same time period. The CPI readings arrive ahead of a Fed policy meeting on June 17-18 where officials are virtually certain to keep the central bank’s interest rate target range fixed at between 4.25% and 4.5%. Fed officials have signaled they are in a wait-and-see mode right now as the chaotic nature of the Trump administration’s trade policy has made it very hard to know what lies ahead for the economy.

Meanwhile, the BSP’s policy-setting Monetary Board will hold its own policy meeting on June 19, where it is widely expected to deliver a second straight 25-basis-point (bp) rate cut as inflation continues to ease.

Philippine headline inflation eased to an over five-year low of 1.3% in May to bring the five-month average to 1.9%, a tad below the BSP’s 2-4% annual target band. The central bank expects inflation to average 2.3% this year.

Last month, BSP Governor Eli M. Remolona, Jr. said they could deliver two more rate cuts this year in “baby steps” or increments of 25 bps, with the next reduction on the table at the June 19 meeting.

In April, the Monetary Board resumed its rate-cutting cycle with a 25-bp reduction after a surprise pause in its February review, bringing the policy rate to 5.5%. The central bank has now slashed benchmark rates by 100 bps since it began easing in August last year. — Aaron Michael C. Sy with Reuters

Crypto regulation may be SEC chief’s biggest legacy

STOCK PHOTO | Image from Freepik

The Philippines stands at a financial crossroads. With about 52% of Filipinos owning some form of cryptocurrency, the country ranks second in the world in digital asset adoption. From Bitcoin to NFTs, crypto has become more than a buzzword; it is becoming a household term, especially among young Filipinos, freelancers, OFWs and play-to-earn gamers. Yet for all its promise, this Wild West of finance continues to operate in a regulatory gray zone.

Enter Francis Edralin Lim, newly appointed Securities and Exchange Commission (SEC) chairman whose arrival comes at a critical time in the country’s financial history. As a veteran in both legal and capital market reform, Lim is uniquely positioned to lead the charge in bringing order to the crypto frontier, while pushing the Philippines further along the path of financial innovation and inclusion.

A REFORMER AT THE HELM
Lim is no stranger to reform. As former president and CEO of the Philippine Stock Exchange (PSE) from 2004 to 2010, he led the PSE through a historic demutualization and public listing process. He introduced reforms that increased market transparency, strengthened investor confidence and modernized exchange operations — all while positioning the PSE as a credible capital-raising venue in Southeast Asia.

Beyond the PSE, Lim has served as a long-time managing partner at ACCRALAW, one of the most respected law firms in the country. He has been a counsel to multinational corporations, advised the government on corporate governance and taught law and financial regulation at the Ateneo de Manila University. His deep understanding of the legal, operational and ethical dimensions of capital markets sets him apart in a regulatory environment often bogged down by either excessive conservatism or a lack of technological fluency.

What makes Lim’s appointment even more promising is his open-mindedness. Unlike regulators stuck in the old paradigms of financial gatekeeping, Lim’s record suggests a technocratic but forward-looking approach. He has supported new capital instruments, advocated for better access to public markets and now steps into office at a time when cryptocurrencies and digital assets can no longer be ignored.

WHY CRYPTO NEEDS HIS REFORM AGENDA
Crypto in the Philippines has exploded, fueled by OFW remittances, financial exclusion and youth-driven play-to-earn economies. But this growth is mostly taking place in regulatory shadows. Unregistered platforms abound. Scams have cost Filipino investors millions. And regulatory bodies have only recently started imposing clearer frameworks, including the SEC’s newly issued memorandum requiring crypto asset service providers to register, maintain P100 million in paid-up capital (excluding crypto) and submit full business model disclosures.

Lim now has a roadmap and a mandate. His challenge is to accelerate and institutionalize these efforts.

FOUR PRIORITIES FOR LIM
• Harmonize regulations across agencies

Crypto is touched by multiple regulators: the SEC for investment contracts and trading platforms, the Bangko Sentral ng Pilipinas (BSP) for virtual asset service providers and even the Anti-Money Laundering Council (AMLC) for risk monitoring. Lim must lead the charge in developing a unified national framework. A joint task force or inter-agency council on digital assets, similar to what Singapore or Japan has done, could streamline compliance and avoid regulatory arbitrage.

• Foster innovation via regulatory sandboxes

Lim’s record shows he understands how to build the financial infrastructure while encouraging innovation. He, therefore, should expand the SEC’s “StratBox” initiative to support crypto startups and blockchain applications in areas like carbon credits, smart contracts and decentralized finance. These sandboxes can serve as test beds for responsible innovation.

• Invest in public education and investor protection

Only 46% of Filipinos understand how crypto works. The SEC should launch aggressive public education campaigns, partnering with schools, banks, fintech platforms and even influencers. Chairman Lim can champion a crypto literacy program similar to what he did for capital markets when he modernized the PSE’s investor education efforts.

• Crack down on scams, while encouraging good actors

Lim should enhance the SEC’s digital intelligence capabilities by investing in tech that can track illegal trading, identify pump-and-dump schemes and shut down unregistered platforms. But equally important, the agency must create incentives for legitimate crypto asset service providers to enter the Philippine market with confidence and clarity.

DIGITAL FUTURE WITH GUARDRAILS
Francis Lim brings to the SEC a rare mix of reformist zeal, legal rigor and industry credibility. In a time when financial innovation is often met with bureaucratic resistance, his leadership offers the best chance for the Philippines to craft a balanced crypto policy — one that protects investors without stifling innovation.

Filipinos have already embraced the future of finance. Now it’s time for the system to catch up.

With Lim at the helm, the Philippines has a chance to become not just a crypto-heavy country but a crypto-smart one. And that could be his most lasting legacy.

 

Ron F. Jabal, APR, is the CEO of PAGEONE Group and founder of Advocacy Partners Asia. You may correspond through ron.jabal@pageone.ph or rfjabal@gmail.com

SPC Power eyes acquisitions, solar projects to reach 500-MW goal

STOCK PHOTO | Image by Michael Wilson from Unsplash

CEBU-BASED energy firm SPC Power Corp. is seeking to acquire and develop new projects as it aims to deliver 500 megawatts (MW) of new capacity by 2029, its chairman said.

“The company remains committed to optimizing existing assets and actively pursuing potential acquisitions and new projects for long-term growth,” SPC Power Chairman Alfredo L. Henares said during the company’s annual stockholders’ meeting on Wednesday.

Among the projects in the company’s pipeline is a proposed 48-MW solar farm in Iloilo, which has secured authorization from the Department of Energy to proceed with development.

“Beyond this, SPC is pursuing other solar power projects in various locations across the country,” Mr. Henares said.

To support the grid amid the growing integration of renewables, the company is also advancing the development of battery energy storage system (BESS) projects, he said.

“Overall, SPC is reaffirming its target of an additional 500 MW of capacity by 2029,” he said.

For the three months ended March, the company’s attributable net income more than doubled to P234.69 million, driven primarily by cost-saving initiatives in major operating expenses.

Consolidated revenues declined by 34.7% year on year to P372.7 million due to the expiration of its ancillary services procurement agreement, which resulted in lower energy dispatch.

SPC is primarily engaged in the development, rehabilitation, and operation of power generation plants, electricity distribution systems, and related facilities. It is also authorized to sell, broker, market, or aggregate electricity to end-users.

The company’s subsidiaries include SPC Island Power Corp., Cebu Naga Power Corp., SPC Malaya Power Corp., Bohol Light Company, Inc., SPC Light Company, Inc., and SPC Electronic Company, Inc. — Sheldeen Joy Talavera

Shakey’s Pizza Asia Ventures, Inc. amends Notice of 2025 Annual Stockholders’ Meeting to July 3

 Amended Notice of Annual Stockholders’ Meeting

Notice is hereby given that the Annual Stockholders Meeting will be held on Thursday, July 3, 2025 at 8:30 in the morning.

The agenda for the said meeting shall be as follows:

  1. Call to Order
  2. Secretary’s Proof of Due Notice of the Meeting and Determination of Quorum
  3. Approval of the Minutes of the Stockholders’ Meeting held on June 20, 2024
  4. Management’s Report
  5. Ratification of Acts of the Board of Directors and Management During the Previous Year
  6. Election of Directors (including Independent Directors)
  7. Appointment of External Auditor
  8. Other Matters
  9. Adjournment

The meeting shall be presided by the Chairman of the Board and held at the principal office of the Corporation located at  WOW Center 15KM East Service Road corner Marian Road 2, Brgy. San Martin de Porres, Paranaque City. Copies of this Amended Notice shall be published in two (2) newspapers of general circulation on June 12 and June 13, 2025.

A brief explanation of the agenda item which requires stockholders’ approval is provided above. The Information Statement, Management Report, SEC Form 17A are uploaded to the Corporation’s website https://www.shakeysgroup.ph/ and PSE EDGE.

The record date for the determination of the shareholders entitled to vote at said meeting is on May 9, 2025.

Stockholders may attend the meeting and vote via remote communication only.

Stockholders pre-registration is open until June 3, 2025, please use the registration link below:

https://www.shakeysgroup.ph/ir/register

Upon registration, Stockholders shall be asked to provide the information and upload the documents listed below (the file size should be no larger than 5MB):

A. For individual Stockholders:

  1. Email address
  2. First and Last Name
  3. Address
  4. Mobile Number
  5. Current photograph of the Stockholder, with the face fully visible
  6. Stock Certificate Number and number of shares held by the stockholder
  7.  Valid government-issued ID
  8. Stockholders with joint accounts: A scanned copy of an authorization
    letter signed by all Stockholders, identifying who among them is authorized
    to cast the vote for the account

B. For corporate/organizational Stockholders:

  1. Email address
  2. Name of stockholder
  3. Address
  4. Mobile Number
  5. Phone Number
  6. Stock certificate number and number of shares held by the stockholder
  7. Current photograph of the individual authorized to cast the vote for the account (the “Authorized Voter”)
  8. Valid government-issued ID of the Authorized Voter
  9. A scanned copy of the Secretary’s Certificate or other valid authorization in favor of the Authorized Voter

Stockholders who will join by proxy shall download, fill out and sign the proxy found in https://www.shakeysgroup.ph/ir/register. Deadline to submit proxy forms is on June 17, 2025.

All registrations shall be validated by the Corporate Secretary in coordination with the Stock Agent. Successful registrants will receive an electronic invitation via email with a complete guide on how to join the meeting and how to cast votes.

Only stockholders of record as of the close of business on May 9, 2025 are entitled to notice and to vote at the meeting.

 

Sgd.
MARIA ROSARIO L. YBANEZ
Corporate Secretary

 


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