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Timothée Chalamet in Marty Supreme (2025)

Movie Review
Marty Supreme
Directed by Josh Safdie

JOSH SAFDIE’S Marty Supreme takes its cue from its central character: brassy, loud, unrelentingly annoying, chronicling the life of one Marty Mauser, a nascent shoe salesman and up-and-coming ping-pong player. Marty, to put it mildly, likes to burn both ends of his candle: he hustles players at the local bar; hustles his rich friend Dion (Luke Manley) to finance production of orange ping-pong balls with his name printed on them; hustles his married friend Rachel (Odessa A’zion) for sex at the shoe store’s back room; hustles his Uncle Murray (Larry Sloman) for $700 to help finance a trip to the British Open in London — to be fair Uncle Murray’s hustling Marty too, trying to manipulate the young man into staying on as salesman while having an affair with Marty’s mother Rebecca (Fran Drescher).

Timothée Chalamet trades in his Kwisatch Haderach stillsuit for a long-sleeved blouse, unbuttoned to reveal the sweat-soaked undershirt, and glues a dead caterpillar to his upper lip the way I assume Guy Gardner likes to sport a bowl cut — to declare “fuck you!” at anyone who dares object to his grating personality. It’s perfect; like him or not as an actor, have to admit this role fits Chalamet’s less-than-charming persona to a T, down to the nipples standing defiantly erect through the thin cotton.

It’s a vibe, I suppose. Helps that Darius Khondji is the cinematographer, with his shadowed aesthetic developed from his time with Jean-Pierre Jeunet (Delicatessen, City of Lost Children, Alien Resurrection), through his time developing the look and feel of David Fincher’s signature features (Se7en, Panic Room), to his time applying richly textured layers to James Gray’s visual palette (The Immigrant, The Lost City of Z, Armageddon Time), to his time illuminating the Safdie brothers’ shaky-cam aesthetic (Uncut Gems, this film), lending them more gravitas and solemn beauty than they actually deserve. For this production, Khondji adds a sumptuous glow about Chalamet’s tousle-haired head, suggesting he’s more “Fast” Eddie Felson than Ratso Rizzo (we’re not totally fooled, but Khondji for a few moments at a time manages to leave us confused).

It also helps that the legendary Jack Fisk is the production designer — he grew up in 1950s Illinois, is adept at creating worlds set in the past (Badlands, Days of Heaven, The Thin Red Line, Killers of the Flower Moon), the relative present (The Straight Story, Carrie, Mulholland Drive), and the nightmarish subconscious (Eraserhead). Fisk’s work here is so immersive I can believe it helped settle and modulate Safdie’s usually frenetic camerawork, from the near-incomprehensible near-hysterical gibberish Adam Sandler spouted in Uncut Gems to the comparatively sedate rat-tat-tat delivery of 1930s screwball comedies (transposed here to early ’50s).

Does the film work? To a point. It wants to be The Hustler, to beat that film at its own game of taking up a relatively lightweight game (billiards) by employing a sport even lighter in weight (table tennis) to pronounce on matters as momentous (At what point does selling one’s honor, dignity, soul for the umpteenth time become too much? Who in this dog eat dog world does one care about, dig in one’s heels for, and why?), but lacks Robert Rossen’s lean elegant visual storytelling, lacks the dark Mephistophelean figure played by George C. Scott as counterweight. Marty stands alone in a world of fools and suckers and that I suspect is how Chalamet (who’s never been shy on the subject of his ego) likes it, and that’s likely why this film fails to touch its intended level.

This Marty isn’t even half as interesting as the real deal — Marty Reisman, on whom Chalamet’s character is loosely based, was a table tennis player from the age of nine, won his first city championship at the age of 13; he hustled for money and, yes, toured the world as the opening comedy act for the Harlem Globetrotters, often visiting Hong Kong, and (a detail omitted from the film) smuggled gold and Rolex watches out of Asia into the United States. He won the 1997 US National Hardbat Championship at the age of 67, and in 2008 demonstrated on the Late Show with David Letterman that he could split a cigarette with a ping pong ball. On archival video footage Reisman looks improbable, with limbs longer and lankier than Chalamet’s (you can believe he can cover a ping pong table with arms outstretched), his onscreen manner is far more charming and charismatic — if he ever approached me for financing production of thousands of orange ping pong balls with his name printed on them, I’d seriously consider his proposal.

This isn’t Safdie’s best work either — that would be Uncut Gems, co-directed with his brother Benny, in a milieu the brothers grew up in (the New York Diamond District), with real stakes (loan sharks, a gambling addiction, a crumbling marriage, millions in rings and gems and unsecured loans), with Adam Sandler sweating the kind of desperation Chalamet can only fantasize about. I am usually not a fan of the smash-n-grab handheld frenetically cut style the Safdies excel at but in this one case they may actually have a point, and so does the film — an icepick of a point, driven into your skull between your eyes.

And this isn’t even the ultimate table tennis saga — that would be Masaaki Yuasa’s Ping Pong: the Animation, with visuals that make the Safdies look like on quaaludes, and a narrative that goes into power dynamics, players’ psychology, the significance of the sport to various countries’ cultures (specifically Japan and China), the pitfalls and virtues of both victory and defeat. Would I consider Marty supreme? Wouldn’t call it bad, but would definitely rank it fourth.

RCBC prices bonds, starts offer

RIZAL COMMERCIAL BANKING CORP.

RIZAL COMMERCIAL BANKING Corp. (RCBC) has set the coupon rate for its three-year fixed-rate ASEAN Sustainability bonds at 6.08% as it started the public offer period on Thursday.

The three-year bonds will be offered until March 27, unless adjusted by the bank, with the settlement and listing on the Philippine Dealing and Exchange Corp. scheduled on April 8, RCBC said in a disclosure to the stock exchange.

The bank is selling the notes at a minimum investment amount of P100,000 with additional increments of P10,000 thereafter.

“The funds to be raised from the offer will be used to finance or refinance, in whole or in part, the eligible green and social categories as described in the bank’s Sustainable Finance Framework,” RCBC said.

The notes will make up the ninth drawdown under the bank’s P200-billion bond and commercial paper program, which in 2022 was expanded from the P100 billion initially approved in 2019.

The Securities and Exchange Commission approved the bank’s application for an Association of Southeast Asian Nations (ASEAN) label for the bond issuance on Feb. 23.

The bank mandated Standard Chartered Bank (SCB) and RCBC Capital Corp. as joint lead arrangers and bookrunners for the transaction, while the selling agents are SCB and RCBC.

RCBC last tapped the domestic market in July last year, raising P12.21 billion from an offering of ASEAN Sustainability Bonds, well above the minimum issue size of P3 billion amid strong demand. The notes have a tenor of two years and six months and carry a coupon rate of 6% per annum. This brought total issuances under its peso fundraising program to P99.01 billion.

Meanwhile, the bank also raised $350 million from an offering of five-year sustainability bonds in January 2025. The notes were priced at 5.375% per annum and were issued out of its $4-billion medium-term note program and under its Sustainable Finance Framework.

RCBC’s net income rose by 11% to P10.6 billion in 2025.

Its shares climbed by 20 centavos or 0.84% to close at P24.10 each on Thursday. — Aaron Michael C. Sy

Fueling the fire of female rage

By Brontë H. Lacsamana, Reporter

Movie Review
Sisa
Directed by Jun Robles Lana

SISA — an intentional reference to the iconic madwoman character from José Rizal’s Noli Me Tangere — is a female-led revenge thriller by acclaimed director Jun Robles Lana. Truly befitting Women’s Month, it is a searing story of how women can only rely on themselves for their emancipation.

This film is set towards the end of the Philippine-American War. It follows the titular character Sisa (played by film legend Hilda Koronel in her comeback role after a decade out of the spotlight), who seems to wander into a remote American concentration camp made up mostly of Filipino women. Here, we see in their struggles the tensions of benevolent assimilation, as those deemed savages must adapt to the ways of the colonizer, be it in their form of dress, their language, or their use of cutlery.

It is in this environment that the director brings us an enthralling feminist period piece, involving the worried Delia (played by Eugene Domingo), who tries to dissuade her teenage daughter Nena (Angellie Sanoy) from becoming too close to the white woman teaching the children English; the distraught Ofelia (Tanya Gomez), still in mourning after the capture of her husband, the village chief; and self-assured widow Leonor (Jennica Garcia), who is the paramour of the American garrison’s commander. Without spoiling how their arcs develop through the film, each plays their part to perfection.

This revenge thriller is anchored by Koronel’s stoic, mysterious Sisa, whose madness is weaponized as we discover her true motives. She’s probably the most engaging figure of subterfuge in Philippine cinema to date, as she is revealed to be a rebel leader spying on the American camp to gain intel for an imminent attack. In the process, she gets to know all the women in the village and their struggles, which ultimately affects the decisions she makes in the last act. Naming her after Rizal’s famous madwoman is a feminist move, subverting this symbol of a victim of foreign abuse and turning her into an icon that fights against it. Being played by Koronel guarantees the very picture of subtle discontent brewing beneath the beautiful, features (young in Lino Brocka’s Insiang, just as potent now that the actress is more advanced in age). Plus, Teresa Barrozo’s disconcerting score effectively matches her intense psyche, pushed not alongside dialogue but through the depth of Koronel’s gaze.

The other women fill out the textures of interpersonal strife in this bubble of assimilation. Most notable is Domingo’s Delia, who turns in a believably distraught performance as a woman who has lost most of her family to carnage. She starts out simply grumbling about her remaining child’s closeness with the Americans, until a shocking turn in the teenager’s fate pushes her from mildly comedic to harrowingly dramatic, past a point of no return. Garcia as the tragic Leonor, fully believing in the commander’s supposed love for her and for the Philippines, has the most engaging arc of the ensemble.

The cinematography has striking moments, and the pacing and build-up in the narrative are teeming with tension. Lana wears his references on his sleeve, evoking some of the dramatic framing of Ishmael Bernal’s Himala in moments where Sisa stands alone in the sparse landscape. Of course, because he has Koronel’s powerful screen presence at his disposal, the composition of some scenes call back to Brocka’s Insiang, with steady push-ins and pans.

While the Caucasian actors are a weak point in the ensemble, their one-note, almost cartoonish portrayals do kind of match the sense of artifice that veers this film towards saturated, moody landscapes over historical realism. As the aspect ratio widens from a dimly lit chamber scene to an open-air village confrontation, cinematographer Carlo Mendoza and editor Lawrence Ang helping Lana paint this seething rage against colonizing Americans.

However, what it achieves stylistically softens the blow of the film. Instead of being an incisive indictment of imperialism itself, the final act really draws out the theatrics of women scrambling to come together to fight back against oppressors. It’s riveting stuff, executed with a one-take scene that has become Lana’s signature, albeit with clichés here and there, and an ending that doesn’t go all the way. For all the build-up it took, the toned-down bloodshed and mayhem make a sour pairing with the frustrating politics that refuse to grant full revolutionary imagination to the oppressed women.

Akin to Jerrold Tarog’s recently concluded “Bayaniverse” trilogy (Heneral Luna, Goyo, and Quezon), Sisa espouses the rhetoric that we are our own worst enemies, which is understandable given the Philippines’ political milieu today, but a bit tired in historical films that seek to reappraise forgotten parts of our history. This film harkens back beautifully to local cinema classics, with phenomenal acting from its leads being the exact picture of Women’s Month girl power, but it says something about our nation’s view of emancipation that it almost always carries with it a wry note.

In terms of similarity in plot, Lana’s 2013 film Barber’s Tales, which also stars Domingo as a widow who takes her fate into her own hands, has a superior conclusion. It is telling that, over a decade since, the contrast in the depiction of Filipino guerrillas and their undeniable flaws reflects a disillusionment with the traditional notions of resistance.

What amused me most about the screening I was in was an American tourist couple who, for one reason or another, decided to watch this film. As we were all standing up and leaving, the guy chuckled nervously, he and his wife the only white people in a sea of brown, and asked us directly behind him, “so, uh, that’s not a true story, is it?”

We shook our heads no, but it was funny all the same that the film made them nervous. Perhaps it is wishful thinking on Jun Robles Lana’s part — if only it were true that we had a Sisa (or a few of them) to set ablaze the bleak conclusion to that phase of our history, and to wreck and burn the eventual full embrace of Americans that the Philippines pivoted to after the turn of the century. Perhaps I would not be writing this review in English at all, and that tourist couple wouldn’t be here in the first place.

Alas, that is still wishful thinking, and it makes sense that the film — as a revenge thriller or as an ideological study — didn’t have a fully satisfying conclusion. Sisa represents female rage, its place in an imperfect historical memory, and the perceived madness with which women adopt to be able to survive.

SEC eyes P100-M capital threshold in plan to lift lending license freeze

PEOPLE are seen using their mobile phones along Claro M. Recto Avenue in Divisoria, Manila, Dec. 27, 2022. — PHILIPPINE STAR/EDD GUMBAN

THE SECURITIES and Exchange Commission (SEC) is moving to lift its 2021 moratorium on the registration of new online lending platforms (OLPs) and is seeking public feedback on a proposed framework that would require up to P100 million in capital for the largest operations and set a three-year compliance period for existing firms.

Published on March 11, the draft circular seeks to lift the moratorium on new OLPs and introduce a “pay-to-scale” framework aimed at enhancing consumer protection and market stability.

The proposed guidelines link the right to operate digital platforms directly to a company’s paid-up capital. For financing companies (FCs), the requirements are graduated based on the number of apps they manage: P30 million for one OLP, P60 million for two to five, and P100 million for the maximum allowable limit of 10 platforms.

Lending companies (LCs) face a similar but lower-scaled requirement, topping out at P50 million for 10 platforms.

“Subject to full compliance with the requirements prescribed under this circular, the Commission hereby lifts and supersedes MC 10 and allows the disclosure and recording of new OLPs to be owned, operated, or utilized by FCs and LCs. The lifting of the moratorium under this section shall not be construed as an automatic or unconditional approval of any OLP,” the draft circular reads.

THREE-YEAR TRANSITION
Existing firms will not need to meet the requirements immediately but must comply within a three-year transition period. Within 60 days of the circular’s effectivity, all current lenders must submit a “capital compliance plan” outlining how they will meet interim milestones: 30% compliance in the first year, 60% in the second, and full compliance by the end of the third.

For firms that fail to meet these standards by the deadline, the draft provides an exit framework.

“Entities that remain noncompliant after the transition period shall be required to: cease onboarding new borrowers through excess OLPs; submit a discontinuance plan for approval by the Commission; and ensure proper servicing of existing loans under Commission supervision,” the SEC’s draft circular reads. The SEC also warned that it may order the “consolidation, discontinuance, or migration of borrower accounts to compliant OLPs” for noncompliant firms.

ENDING ‘BRAND FRAGMENTATION’
A key pillar of the proposed framework is an anti-circumvention clause that targets the industry practice of “white-labeling” or rebranding multiple apps to evade oversight.

The SEC said it will apply a “substance-over-form” approach to identify integrated platform structures.

“Any attempt to fragment, replicate, rebrand, white-label, or structurally reorganize OLPs for the purpose of avoiding capital requirements, disclosure obligations, or supervisory limits shall constitute circumvention and shall be subject to administrative sanctions,” the draft reads.

Sought for comment, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the guidelines aim to balance consumer protection with market growth.

“[The proposed guidelines are] primarily to protect and uphold the interests and rights of the borrowing public, while providing greater choices and competition for the general public.”

The public has until March 25 to submit comments on the draft before the SEC finalizes the rules, which are currently slated to take effect on April 1. — A.G.C. Magno

BPI targets to increase agency banking locations

BW FILE PHOTO

BANK of the Philippine Islands (BPI) expects to reach 10,000 agency banking locations within the year, mainly driven by its partnership with Robinsons Retail Holdings, Inc.

“Actually, it’s about 8,000 now. But obviously, we’ll try to reach more. We have about 30 brand partners. The biggest brand partner is actually Robinsons Retail and all their stores,” BPI President and Chief Executive Officer Jose Teodoro K. Limcaoco told reporters on the sidelines on an event on Tuesday.

The bank also has brand partners outside of the National Capital Region, including Prince Hypermart in Cebu and Rodamel Drugstore in Tuguegarao City.

“We like to work with the brands primarily because they have the same level of trust… We just like the brands. Because for us, it’s not just about going to a partner store and just withdrawing or depositing. The partner store is able to also onboard you on a loan product,” Mr. Limcaoco said.

He added that the bank will soon add bills payment to its agency banking capabilities to complement the deposit and withdrawal services offered at present.

BPI is also looking to onboard more partners for direct debit facilities, he said, following its rollout of the same with Ayala Land, Inc. (ALI) last month, which allows property owners and tenants to settle recurring payments from any account from participating banks.

“Ayala Land is the first one. But we’ll see more and more people doing that… There is a challenge in adoption because many consumers want to control when their accounts get debited. So, it’s something that we need to educate the consumer about,” Mr. Limcaoco said.

The direct debit facility launched by ALI and BPI is an interoperable and multilateral auto-debit system, enabling automated debits across banks via a clearing house. This will allow them to settle recurring payments such as property amortizations, rent and lease payments, loan installments, insurance premiums, membership dues, and subscription-based services, even if the payors and billers do not have accounts within the same bank.

BPI’s net income grew by 7.4% to P66.62 billion in 2025.

Its shares closed at P102 apiece on Thursday, dropping by 20 centavos or 0.2% from Wednesday’s close. — A.M.C. Sy

Stuff to Do (03/13/26)

Find a Pinoy book or two at the book fest

NOW on its fourth year, the Philippine Book Festival (PBF) is ongoing until March 15 at the Megatrade Hall in SM Megamall, Mandaluyong City. It serves as a marketplace for all-Filipino books and published works and a shared space where publishers, writers, illustrators, readers, and educators can gather. There are over a hundred exhibitors bringing with them an extensive collection of books. A diverse range of talks and workshops is also lined up over the four-day event. The PBF is open to the public. For more information on the Philippine Book Festival and to register for free, visit www.philippinebookfest.com.

Enjoy the fireworks shows

THE Philippine International Pyromusical Competition is ongoing at the SM Mall of Asia. On Saturday, March 14, two more world-class pyrotechnic teams take center stage, transforming the Manila Bay skyline into a canvas of light, music, and color. The spectacle can be viewed from the SM Mall of Asia Seaside Boulevard starting 7:30 p.m. The Philippine International Pyromusical Competition runs every Saturday until April 11 (except April 4).

Support a women’s bazaar at Robinson’s Galleria

THE “Leading Ladies” bazaar is ongoing at the Atrium of the Robinsons Department Store Galleria in Ortigas, Quezon City, until March 15. There, food vendors like G Fuentes Food Processing, Nourish Gourmet Finds, Capellan’s Deli Food Products, and Heredar are joined by arts and crafts stalls by Stamps and Patterns and Project Resin, in a bazaar celebrating Women’s Month.

Meditate with photographer Denise Weldon

FOR THOSE who are tired, stuck, or creatively drained, the quiet of the Metropolitan Museum’s galleries will welcome guests for an interactive meditation inspired by works from the museum’s permanent collection by photographer Denise Weldon. Guided by the artist herself, the session offers a reflective encounter with art and a moment of calm inside the museum. It is open to all, included with the museum’s regular admission pass worth P350. Tickets may be obtained at the reception area, with PWD, senior, and student discounts applicable. It takes place on March 14, 10 a.m. to noon, at the South Gallery on the 3rd floor of the Metropolitan Museum of Manila in BGC, Taguig,

Watch Ballet Manila’s Sleeping Beauty

BALLET MANILA’S presentation of Sleeping Beauty, the final offering of the “Princess Trilogy Series,” will be held from March 13 to 15 at the Aliw Theater, CCP Complex, Pasay City. All performances will feature the Manila Symphony Orchestra (MSO), conducted by Alexander Vikulov, bringing the beloved classic to life with a full live orchestral accompaniment.

Visit The Mind Museum on its anniversary

THIS MARCH, as The Mind Museum celebrates its 14th anniversary, it is inviting the public to rediscover the wonder of science through exclusive promotions and a special program. One is the P14 Anniversary Promo, where visitors can enjoy three-hour access to The Mind Museum for only P14. Promo slots are limited per time slot (9 a.m. to noon, noon to 3 p.m., and 3 to 6 p.m.), and a maximum of two tickets only can be purchased per person. The promo is valid for visits on March 14 and 15 only. There is also a free museum pass for 14-year-old guests when accompanied by at least one paying guest. Visitors must present a valid ID or birth certificate showing the birth year 2012, valid for visits on March 14 and 15 only. Finally, the special anniversary program, “It’s About Time We Talk About Time: How Science Sees Time,” will take place on March 14, 2 p.m., at Mind Pod 3, The Mind Museum. Admission is free, but slots are limited, so early registration is encouraged.

Play with other girl gamers at Ali Mall

THE gaming event “GameHers: Women in Sports” will be offering a girl gamers’ zone at the Activity Area on the Lower Ground Floor of Ali Mall in Araneta City, Cubao, Quezon City, from March 14 to 15. As part of Araneta City’s month-long celebration of Women’s Month, the event will feature free play activities such as video and arcade games, Beyblade, board games, and more, along with a display of girl character figurines. There will also be a toy fair mounted by Timber Toys.

Walk through Art in the Park

THERE will once again be a chance to see art on a nice summer day out this month at the Jaime Velasquez Park in Salcedo Village, Makati City. For its milestone 20th edition, Art in the Park will present 55 exhibitors representing galleries, art collectives, independent art spaces, and student groups, all showcasing the diversity of Filipino art. It will run from 10 a.m. to 10 p.m. on March 15, Sunday. In addition to entrance to the fair being free, prices for artworks are capped at P70,000, with many art lovers able to score coveted pieces for even less. There will be special exhibits and performances. To fuel up while wandering the booths, there are food and driks vendors. For more information, visit www.artinthepark.ph or @artintheparkph on Facebook and Instagram.

Learn about humanity with Bangaw

IN 1954, William Golding’s Lord of the Flies offered a terrifying look into the innate power-hungry psyche of humanity. Today, the FEU Theater Guild is performing an immersive Filipino adaptation on the tale of group of young people stranded on an island and their devolution. Bangaw has shows until April 24, with ticket prices ranging from P100 to P700. For more details, visit FEU Theater Guild’s social media pages.

Watch The Sandbox Collective’s Spring Awakening

ONGOING until March 22 at the Proscenium Blackbox Theater in Rockwell, Makati City, is The Sandbox Collective’s season opener, the Tony Award-winning rock musical Spring Awakening. With book and lyrics by Steven Sater and music by Duncan Sheik, the production is based on the Frank Wedekind play of the same name. Set in 19th century Germany, it tells the stories of teenagers exploring their burgeoning sexualities and rapidly changing bodies. This version is directed by Andrei Nikolai Pamintuan, with musical direction by Ejay Yatco. It also marks The Sandbox Collective’s first production under the leadership of its new artistic director, Sab Jose. Menchu Lauchengco-Yulo and Ana Abad Santos share the role of Adult Woman while Audie Gemora plays the Adult Man. Alongside them are Nacho Tambunting and Alex Diaz who share the role of Melchior Gabor; Nic Chien and Omar Uddin who alternate as Moritz Stiefel; and Sheena Belarmino who plays Wendla Bergmann. Spring Awakening is the inaugural show of The Black Box at The Proscenium Theater. Tickets are available via Ticket2Me (tinyurl.com/SandboxSpring2026).

Get nostalgic with Bagets the Musical

BAGETS THE MUSICAL, a stage adaptation of the 1984 coming-of-age film Bagets, follows a group of high school friends navigating adolescence, family, friendship, and young love. This production by Newport World Resorts, The Philippine Star, and VIVA Communications, is directed by Maribel Legarda, with a book by J-mee Katanyag and music by Vince Lim. The five leads are played by Sam Shoaf, Milo Cruz, Noel Comia, Jr., Ethan David, and Andres Muhlach. They alternate with Jeff Moses, Migo Valid, Tomas Rodriguez, KD Estrada, and Mico Hendrix Chua. Also in the cast are Neomi Gonzales, Natasha Cabrera, Mayen Cadd, Ring Antonio, and Carla Guevara Laforteza. Bagets the Musical runs until March 22 at the Newport Performing Arts Theater, Pasay City. Tickets, ranging in price from P1,000 to P4,000, are now available at the Newport World Resorts Box Office and via TicketWorld.

Watch women-led K-dramas on Viki

RAKUTEN Viki has launched a “Viki Celebrates Women” collection for International Women’s Day. It highlights a collection of female-led Korean dramas. They include: Love Me, starring Seo Hyun-jin as an obstetrician who confronts a family tragedy after a free-spirited music director moves in next door; My Mister, starring IU as a young woman in debt who develops a connection with a middle-aged engineer; and Love Scout, starring Han Ji-min as a corporate recruiter whose life changes when she gets closer with her reliable secretary. Fan favorites in the collection include Weightlifting Fairy Kim Bok Joo and Doctors.

Learn about BTS through a Spotify fan experience

TO CELEBRATE the upcoming release of K-pop boy group BTS’ 5th studio album ARIRANG, Spotify has partnered with the group to give their fans around the world (nicknamed ARMYs) more ways to engage with the music. The digital music platform will be hosting special in-app experiences with surprise content from the members. Select cities will also have immersive pop-ups this year. BTS’ comeback campaign in the app is titled “Decoding ARIRANG.”

Watch Reminders of Him in cinemas

IN CINEMAS starting this week is a powerful story of motherhood, guilt, and the power of love. Reminders of Him, the film adaptation of bestselling author Colleen Hoover’s novel of the same name, stars Maika Monroe, Tyriq Withers, Lauren Graham, and Rudy Pankow. Directed by Veronica Caswill, who had Hoover’s blessing in handling her story, it begins when a woman gets into an accident with her boyfriend, which lands her in prison. When she returns to her hometown seven years later to rebuild her life, she tries to reconnect with her daughter and builds a romance with a former NFL player and bartender, forging a path to a second life.

Listen to P-pop girl group VVINK’s new single

RISING P-pop group VVINK has dropped “Kailan Ka Aamin,” which serves as the first pre-release single from their upcoming full-length debut album under FlipMusic. Written by Filipino songwriter Nica del Rosario and produced by Julius James “Bojam” De Belen, the pop ballad introduces a more intimate direction for VVINK. The track is a coming-of-age confession inspired by the Thai Girls Love (GL) pair “MilkLove” and the dynamic fans have associated with them. Sonically, “Kailan Ka Aamin” weaves bubblegum pop influences with 1980s-inspired production. It is out now on all digital music streaming platforms worldwide.

Check out PLDT Home Life’s new streaming device

PLDT HOME LIFE has launched StreamTV+, a new high-end streaming device which is packed with 4K visuals made richer with Dolby Vision, multi-dimensional sound powered by Dolby Atmos, audio refined by Bang & Olufsen, and voice control of TV and smart home devices powered by Google Assistant. Through it, PLDT aims to deliver a cinema-grade entertainment experience. PLDT Home Fiber subscribers can purchase StreamTV+ for a one-time payment of P10,990 or P399/month for 36 months. Learn more at pldthome.com/streamtv.

Banks back Prime Infra hydro projects with P273.5-B financing

The Upper Wawa Dam in Rizal — PRIMEINFRA.COM

By Sheldeen Joy Talavera, Reporter

RAZON-LED Prime Infrastructure Capital, Inc. (Prime Infra) has secured financing support from local and international banks for the development of its 2,000-megawatt (MW) pumped storage hydropower projects in Laguna and Rizal through loans totaling P273.5 billion.

In a statement on Thursday, Prime Infra said it entered into a P214.87-billion project financing agreement with an eight-member bank syndicate.

The consortium includes Bank of the Philippine Islands, BDO Unibank, Inc., China Banking Corp., Land Bank of the Philippines, Metropolitan Bank & Trust Company, Philippine National Bank, Security Bank Corp., and Union Bank of the Philippines.

Prime Infra said the financing will be classified as a green loan with the assistance of MUFG Bank, Ltd.

The company also secured a P58.6-billion dual-currency equity standby letter of credit facility from foreign lenders MUFG Bank, Mizuho Bank, Ltd., and Sumitomo Mitsui Banking Corp.

“This historic financing reflects the confidence of local and international banks in Prime Infra’s capability to deliver large-scale, critical infrastructure,” Prime Infra President and Chief Executive Officer Guillaume Lucci said.

Mr. Lucci said the banks’ support would help finance the company’s pumped storage projects, which require significant capital.

“These agreements will accelerate critical infrastructure investments and strengthen energy security and reliability, which are the foundations of the Philippines’ sustained economic growth,” he added.

The funding will support the ongoing construction of the 1,400-MW Pakil Pumped Storage Hydropower Plant of Ahunan Power, Inc. in Laguna and the 600-MW Wawa Pumped Storage Hydropower Plant of Olympia Violago Water & Power, Inc. in Rizal.

Both projects, which have been certified as energy projects of national significance, are targeted to begin operations by 2030.

Pumped storage technology generates power during peak demand by storing energy by pumping water to an upper reservoir during off-peak hours.

Prime Infra is partnering with First Gen Corp. of the Lopez group to develop the projects. First Gen will invest P61.88 billion for a 33% equity interest in both projects.

COLOMBIA OIL DEAL
Separately, analysts said the planned acquisition by Prime Infra of Colombia’s largest independent oil and gas exploration and production firm could help reduce the Philippines’ dependence on oil imports as the Middle East war raises fuel supply concerns.

Global investment firm Carlyle has agreed to sell its entire stake in SierraCol Energy Ltd. to Prime Infra, complementing the latter’s power and energy infrastructure assets.

Carlyle and Prime Infra have entered into an agreement that is expected to close “within the following months,” SierraCol said in a statement on Wednesday.

The planned buyout has circulated since last year, with Carlyle seeking around $1.5 billion (P89.25 billion) for the Colombian firm, Reuters reported, citing industry sources.

The deal comes at a time when the Iran war has caused disruptions in a strategic waterway, raising oil supply concerns and pushing fuel prices higher.

“Prime Infra’s acquisition is timely and strategically attractive both commercially and geopolitically for Philippine energy security,” said Peter Louise D. Garnace, an equity research analyst at Unicapital Securities, Inc.

He said the major energy player’s acquisition of SierraCol could reduce the country’s dependence on oil-producing countries in the Middle East.

With SierraCol having a “structurally advantaged operation” given its proximity to processing, storage and transportation infrastructure, the Colombian firm is capable of producing high-quality and low-cost oil, he said.

SierraCol produces 77,000 barrels of oil equivalent per day, equivalent to 10% of Colombia’s total oil production. The company sources its oil from the country’s most prolific basins, including two giant fields — Caño Limón and La Cira Infantas.

“SierraCol could supply up to one-fifth of Philippine refinery demand, positioning it as the first Filipino-controlled international upstream oil producer and a huge strategic buffer in instances of oil crisis similar to the ongoing global supply shock amid US-Iran War,” Mr. Garnace said.

Marky Carunungan, an investment analyst at F. Yap Securities, said Prime Infra’s move to secure overseas production helps “diversify supply away from the Middle East and offers a natural hedge against oil price volatility, particularly amid current geopolitical tensions.”

Tony Hayward, executive chairman of SierraCol, said Prime Infra is expected to provide the company access to long-term capital.

“This acquisition strengthens our oil and gas expertise and complements our existing asset base in the Philippines,” Mr. Lucci said.

“Together, these capabilities position us to operate across the oil and gas value chain — from upstream to downstream, onshore and offshore — and to participate in the sector’s growth against the backdrop of a broader commodities supercycle,” he added.

Prime Infra is an infrastructure developer and operator focused on building and operating assets in energy, water, and waste management. Its energy portfolio includes gas-fired power plants, the Philippines’ only indigenous gas production facility, and large-scale pumped storage projects designed to support grid stability.

Several financial institutions now offering fully online process to open PERA

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SEVERAL financial institutions are now offering a fully online application process for opening a Personal Equity and Retirement Account (PERA) under the Bangko Sentral ng Pilipinas’ (BSP) open finance pilot, making the voluntary retirement saving and investment program more accessible.

In a statement on Thursday, the central bank said customers of G-Xchange, Inc., the operator of e-wallet GCash, Union Bank of the Philippines (UBP), Philippine National Bank (PNB), and Rizal Commercial Banking Corp. (RCBC) who tap ATRAM Trust Corp. as their PERA administrator can open accounts digitally.

Previously, opening a PERA required customers to fill out forms manually and submit supporting documents such as identification cards to PERA administrators.

“By participating in the project, G-Xchange, UBP, PNB, and RCBC can now securely share customer information — with the customer’s consent — to ATRAM,” the BSP said.

“Customers only need to register with ATRAM and open a PERA account via ATRAM’s online platform.”

UnionBank clients can also apply through ATRAM using the bank’s mobile application, it added.

“The BSP continues to work with financial institutions to further expand the network and ensure that a seamless and secure retirement planning ecosystem is within reach of every Filipino,” the central bank said.

PERA, created under Republic Act No. 9505 in 2016, is a voluntary retirement saving program which supplements benefits from the Social Security System, Government Service Insurance System, and employer-provided plans.

The BSP launched the Open Finance for PERA Pilot in July last year to encourage more Filipinos to open accounts by streamlining the onboarding process as well as improving access to the program.

This initiative leverages the BSP’s Open Finance framework, which allows secure, consent-based sharing of customers’ financial data across institutions, for increased choices and convenience.

Contributors aged 18 and above with a tax identification number are allowed to open a PERA. Self-employed and locally employed contributors may contribute P200,000 annually, while overseas Filipino workers may invest up to P400,000. The PERA Law also offers incentives to contributors, such as tax exemptions and credits.

The latest BSP data showed that accumulated PERA contributions reached P571.08 million at end-September 2025, rising by 21.34% year on year from P470.63 million. Bulk of these came from employee contributions (P396.54 million).

Meanwhile, the total number of PERA contributors also went up to 6,334 in the same period from 5,774 a year prior. — Katherine K. Chan

Seoul to toughen security for massive BTS comeback concert

SEOUL — A free comeback concert for boy band BTS in central Seoul next week is expected to draw up to 260,000 people, the Ministry of the Interior and Safety said on Wednesday, making it one of the largest public gatherings in the area since the 2002 World Cup.

The chart-topping K-pop group is marking the release of its first new album in more than three years with the free concert on March 21, before it embarks on a global tour in April.

The one-hour event, stretching from Gwanghwamun Square to City Hall in the heart of South Korea’s capital, will be streamed live on Netflix to 190 countries, drawing global attention amid heightened domestic scrutiny over crowd safety.

Some 22,000 holders of free tickets will attend the concert, but the area will be open for non-ticket holders who want to come, Interior Minister Yun Ho-jung said.

Authorities plan to deploy around 4,800 police officers and 3,400 officials from the city of Seoul and related organizations to manage crowd flow, emergency response, and anti-terrorism measures, local media reported.

Mr. Yun emphasized a “safety-first” approach, including pre-event structural inspections, real-time joint command operations, and immediate post-event cleanup.

“This event will showcase not just K-culture, but K-safety,” he said.

Police have said camping out overnight cannot be stopped but large tents will not be allowed, according to local media. Multilingual guides and medical stations will be set up and Seoul has secured 894 toilets that are open to the public in nearby buildings.

Since the deadly 2022 Halloween crush that killed 159 in Seoul, South Korea has remained on high alert for mass-gathering risks. — Reuters

SBCorp plans P12-B lending to support exporters, MSMEs

STOCK PHOTO | Image from Freepik

THE SMALL BUSINESS Corp. (SBCorp), the financing arm of the Department of Trade and Industry (DTI), is targeting P12 billion in loan releases this year.

“P12 billion is our target loan releases for the year,” SBCorp President and Chief Executive Officer Robert C. Bastillo told reporters on the sidelines of an event late Wednesday.

If realized, the amount would exceed last year’s P11.2-billion target, he said.

Of the P12-billion target, about P3 billion will be allocated for exporters, P2 billion for overseas Filipino workers (OFWs), and P2 billion for women-owned and women-led enterprises.

SBCorp may extend additional loans if demand remains strong and repayment rates stay high, Mr. Bastillo said.

“If we exceed that, we have to ask the permission of the DBM (Department of Budget and Management) to release [additional funding,]” he noted.

Mr. Bastillo said larger borrowers such as exporters, wholesale partners, cooperatives, and financial institutions have a repayment rate of nearly 100%.

Microenterprises, however, typically show lower repayment rates.

Mr. Bastillo said many online loan applicants are engaged in manufacturing, services, industrial activities, and trading.

Most SBCorp borrowers are microenterprises, which employ no more than nine workers and have assets of up to P3 million.

Mr. Bastillo also noted rising demand from women-led enterprises, which account for about 60% of the agency’s borrowers.

“Naturally, our micro segment is dominated by women entrepreneurs,” he said.

Mr. Bastillo said the launch of SBCorp’s mobile application last year and its engagement with women’s groups helped increase the number of female borrowers.

SBCorp is also looking to extend more loans to OFWs affected by the escalating war in the Middle East.

Separately, Trade Secretary Ma. Cristina A. Roque said loan support for exporters remains important as the Philippines pursues free trade agreements with other countries.

The move also comes as tensions in the Middle East raise concerns about potential impacts on Philippine exporters.

“We don’t have the numbers yet, but of course if this continues, definitely, it will affect [exporters],” she told reporters separately.

Ms. Roque noted, however, that the Middle East accounts for about 1% of the country’s total exports. — Beatriz Marie D. Cruz

What makes a workplace great? Leaders from ‘Best Places to Work’ in PHL share their stories

Organizations that truly invest in their people create workplaces where employees feel valued, supported, and inspired to do their best work.

The inaugural BusinessWorld Best Places to Work recognition highlighted companies that did just that: cultivate strong cultures, meaningful employee experiences, and environments where individuals can thrive.

The following leaders shared their reflections on what this recognition means for their organizations and the impact it has had on their employees and culture.

SLI Consulting: Gabriel Cervantes, President

It has been a privilege to be selected as one of WorkL and BusinessWorld’s Best Places to Work. This recognition is not only a great honor for us but it also helps us internally look into how we can make our company and workplace even better for our people through seeing where we can improve and where we are strong. I’m proud of our employees who continuously support one another, do great work, and uphold our core values. This award not only thanks the team, but it also inspires us to do better and reach higher with insight and direction.

LSERV Corp.: Kendi Tawano, Chief People Officer

Participating in the BusinessWorld Best Places to Work Awards was a deeply empowering experience for us at LSERV Corp. While the process itself was straightforward, its impact was profound. It gave our employees a voice and reaffirmed a core belief we hold close: when we genuinely care for our people, service excellence naturally follows. This recognition marks a meaningful milestone in our 30-year journey of uplifting lives through meaningful employment and inclusive growth.

What truly sets LSERV apart is the scale and sincerity of our commitment to our people. With over 10,000 employees nationwide, we strive to ensure that every worker, whether deployed on the ground or based at our head office, experiences dignity, fairness, and support. Our ISO 9001:2015 certification, our transition to tech-enabled service delivery, and our investments in learning and wellness platforms are all anchored on one constant: people. This award affirms that our culture of malasakit is not only embedded internally, but genuinely felt, seen, and valued by our workforce.

Since receiving this recognition, we have observed a noticeable increase in job applications, particularly from young professionals and seasoned workers who are drawn to our reputation for fairness, care, and employee support. More importantly, it has boosted morale across the organization — reminding our people that their work matters and that they are part of something bigger than themselves. 

We have embraced this moment as both an affirmation and a responsibility. As we move forward, we are doubling down on our transformation — digitally, culturally, and operationally — to continue building a workplace where employees can thrive with purpose, clarity, and care.

PNB Holdings Corp.

Being recognized as a 2025 BusinessWorld Best Place to Work is an honor that reinforces the people‑first culture we are cultivating at PNB Holdings. From a communications standpoint, the entry process was both straightforward and insightful. It allowed us to meaningfully assess our internal strengths, listen more deeply to our employees, and identify opportunities to further refine the way we support and engage our people.

What truly sets PNB Holdings apart is our disciplined focus on excellence, rooted in integrity, collaboration, and a genuine respect for the individuals who drive our organization forward. This recognition has significantly bolstered our employer reputation. Since the announcement, we have observed stronger interest from top‑tier talent and increased confidence among current team members who take pride in contributing to an award‑winning workplace.

In response to survey insights, we have implemented enhancements that strengthen our employee experience: more structured learning pathways, improved wellness and engagement programs, and deeper communication platforms to ensure every employee feels heard, valued, and connected. These initiatives reflect our broader commitment to continuously raising the bar in the work we do and in the environment we create for our people.

This recognition affirms that we are on the right path, and it inspires us to keep building a workplace where excellence is lived every day.

‘Best Places’ now on its second run

Building on the success of its inaugural run, BusinessWorld, in partnership with global employee experience platform WorkL, is once again opening the search for the Best Places to Work in the Philippines for 2026. Organizations are invited to take part in this initiative to gain valuable insights into employee engagement, well-being, and overall workplace satisfaction.

To learn more about the program and how to join this year’s search, visit: https://workl.com/business/workplace-awards/businessworld-best-places-to-work-awards-powered-by-workl/.

 

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.

Philippine bond market shrinks at end-2025

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THE PHILIPPINE bond market shrank further in the fourth quarter of 2025 due to reduced issuances by the central bank.

The ADB’s March 2026 Asia Bond Monitor report showed that outstanding Philippine local currency (LCY) bonds shrank by 0.7% to $233 billion (about P13.89 trillion) at end-2025 from $237 billion as of September 2025. This was equivalent to 48.9% of gross domestic product.

This was worse than the 0.1% contraction in the previous quarter.

Year on year, the Philippine bond market expanded by 6%.

The ADB said the quarter-on-quarter (q-o-q) decline was mainly due to the 43.6% contraction in the stock of outstanding central bank securities to $6 billion amid reduced issuances.

“Issuance of central bank securities declined 23.3% q-o-q as the BSP discontinued its 56-day securities since November,” it said.

Meanwhile, outstanding Treasury and other government bonds and corporate bonds increased by 1.2% and 2.1% from the prior quarter to $203 billion and $24 billion, respectively, as issuance volumes exceeded maturities in the period.

The ADB said bond sales declined across all segments in the fourth quarter of 2025, with overall issuances dropping by 39.8% to $30 billion (P1.7 trillion) from P50 billion (P2.9 trillion) in the third quarter. Year on year, this was down by 26.2%.

Issuances of Treasury and other government bonds totaled $9 billion, down by 56.4% from the previous quarter as the government fulfilled most of its annual financing target earlier in the year.

Corporate bond issuances were at $2 billion, down by 51.5%, while central bank securities sold totaled $19 billion.

“The investor profile remained largely stable in 2025. Banks and investment houses remained the largest investor group in the Philippines’ LCY government bond market, with their share rising to 46.4% at the end of December from 45.3% a year earlier,” the ADB said.

“The Philippines’ outstanding sustainable bonds totaled $16 billion at the end of 2025. The total sustainable bond stock increased 41.9% y-o-y (year on year) in 2025, up from $11.3 billion in 2024. This lifted the Philippines’ market share in emerging East Asia’s total sustainable bond market to 2.1% from 1.6%. The expansion was supported by strong investor demand, with total sustainable issuance tallying $5.9 billion, about the same as the previous year’s volume. Both the private (53.3%) and public (46.7%) sectors were active market participants, with over 90% of sustainable bonds from the public sector carrying tenors of more than five years,” it added.

The Philippines was the sole bond market in the Emerging East Asia region to record a quarterly decline at end-2025.

Overall, the region’s LCY bond market grew by 2.1% quarter on quarter to $30.588 trillion last year, slowing from the 3.2% expansion in third quarter of 2025, mainly due to an 11% decline in issuances to $2.9 trillion. Vietnam’s bond market recorded the fastest expansion in the period at 10.5%, followed by Hong Kong at 6.3%, and People’s Republic of China (PRC) at 2.2%.

Meanwhile, in terms of value, the People’s Republic of China had the biggest bond market at end-2025 at $25.002 trillion, followed by Japan’s $9.037 trillion and Korea’s $2.428 trillion.

“Regional financial markets are expected to remain broadly resilient as upside and downside risks appear balanced. On the upside, the region’s generally solid macroeconomic fundamentals and accommodative monetary policies should help cushion external shocks,” the ADB said. “Meanwhile, several downside risks warrant close monitoring… Uncertainty about the US monetary policy path — including the upcoming leadership transition at the Fed, the pace of future interest rate adjustments, and possible quantitative tightening — could contribute to fluctuations in asset prices and global capital flows.”

“Unexpected trade policy and geopolitical developments could also heighten uncertainty. Rising trade fragmentation poses both risks and opportunities for regional financial markets. On the downside, increased tariffs, export controls, and policy uncertainty can weigh on export-oriented sectors and heighten earnings volatility for firms integrated into global value chains, potentially leading to capital flow volatility and weaker investor sentiment.” — AMCS

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