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PSEi rises to 6,900 level on Fed rate cut hopes

BW FILE PHOTO

THE MAIN INDEX climbed to the 6,900 level anew amid positive investor sentiment as the US Federal Reserve chief said they remain on track to cut rates within the year.

The Philippine Stock Exchange index (PSEi) rose by 1.55% or 106.45 points to end at 6,963.22 on Thursday, while the broader all shares index went up by 1.2% or 43.14 points to close at 3,615.24.

“Philippine stocks surged well above the 6,900 level as the Fed reaffirmed its plan for three interest rate cuts this year. The central bank kept borrowing costs unchanged after its crucial two-day March meeting, signaling a clear direction,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

Federal Reserve Chair Jerome H. Powell said on Wednesday recent high inflation readings had not changed the underlying “story” of slowly easing price pressures in the US as the central bank stayed on track for three interest rate cuts this year and affirmed that solid economic growth will continue, Reuters reported.

Speaking after a policy meeting at which officials left the benchmark overnight interest rate in the 5.25%-5.5% range and held onto their outlook for three cuts in borrowing costs this year, Mr. Powell said the timing of those reductions still depends on officials becoming more secure that inflation will continue to decline towards the Fed’s 2% target even as the economy continues to outperform expectations.

Inflation reports at the beginning of the year showed price pressures remained “elevated,” in the Fed’s view, but “haven’t really changed the overall story, which is that of inflation moving down gradually on a sometimes bumpy road to 2%,” Mr. Powell said in a press conference.

Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message that the PSEi ended higher as US markets climbed following Mr. Powell’s statement after the Fed’s meeting.

“Boosting the sentiment was Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr.’s statement saying that the BSP may even cut rates faster than the Fed,” Mr. Plopenio said.

Mr. Remolona on Wednesday said the BSP is “closely” watching the Fed, but noted their own policy decisions will not be dependent on the US central bank.

All sectoral indices closed higher on Thursday, led by services, which rose by 4.98% or 91.30 points to 1,922.28. Industrials went up by 1.37% or 121.99 points to 8,983.90; property climbed by 1.23% or 34.54 points to 2,836.03; mining and oil increased by 0.75% or 61.63 points to 8,213.01; financials added 0.45% or 9.26 points to end at 2,054.61; and holding firms gained 0.28% or 18.51 points to close at 6,455.30.

Value turnover went down to P6.34 billion with 976.7 million issues switching hands from the P8.78 billion with 786.83 million shares traded on Wednesday.

Advancers outnumbered decliners, 124 against 77, while 43 names ended unchanged.

Net foreign buying rose to P433.4 million on Thursday from P391.41 million on Wednesday. — R.M.D. Ochave with Reuters

Nations that ‘talk down’ on China to miss out on opportunities, says envoy

Chinese Ambassador to the Philippines Huang Xilian — PHILSTAR FILE PHOTO

NATIONS that misjudge China risk missing out on opportunities as it sets an ambitious economic expansion target of about 5% this year, according to its top envoy in Manila.

“Talking down on China will only backfire, and misjudging China will only squander opportunities,” Chinese Ambassador to the Philippines Huang Xilian told a forum on Philippine-China relations in Quezon City on Thursday, based on a copy of a speech sent by the Chinese Embassy via Viber.

His remarks come just days after US Secretary of State Antony Blinken visited Manila to reaffirm America’s “ironclad” commitments to defend the Philippines against an armed attack in the South China Sea.

Philippine President Ferdinand R. Marcos, Jr. on Tuesday said the threat from China’s expansive claims in the South China Sea is growing, and that his country must do more to defend its territory.

Chinese Premier Li Qiang first announced the growth target early this month to boost confidence in China’s economy as it deals with deflationary pressures, a struggling property sector, an exodus of foreign capital, a stock market rout and a record-low birth rate.

The Chinese Embassy on Wednesday said the US should stop stirring up trouble by taking sides in the sea dispute between China and the Philippines. It also opposed the “groundless accusations made by Secretary Blinken about China’s legitimate and lawful actions in the South China Sea and his thinly veiled threat to invoke the so-called Mutual Defense Treaty obligations.”

In his speech, Mr. Huang said China’s expected growth target this year “far exceeds” the International Monetary Fund’s growth forecast for the US and the European Union (EU). Its economy will have become twice the size of that of the Philippines by yearend.

He said the Chinese economy has been showing positive signals since the start of the year, including a 7.7% increase in domestic tourist spending during the Chinese New Year to 632.6 billion yuan (P4.9 trillion) from 2019.

In the first two months this year, China’s total trade in goods rose by 8.7% from a year earlier to 6.61 trillion yuan.

“As China’s economy grows with a sound momentum, stability and confidence will be injected into the development of the world economy,” Mr. Huang said.

He added that despite different national conditions and systems, China and the Philippines pursue similar development goals, complement each other’s strengths and have “enormous potential for mutually beneficial cooperation.”

The Chinese envoy said China has been the Philippines’ biggest trading partner for eight straight years, and one of its biggest sources of foreign investments.

“The Chinese and the Philippine economy are both part of the global value, industrial and supply chains,” he said. “We have formed a deeply intertwined pattern of interests.”

“The government needs to continue protecting its political sovereignty in the West Philippine Sea,” Leonardo A. Lanzona, who teaches economics at the Ateneo de Manila University, said in a Facebook Messenger Chat, referring to areas of the South China Sea within the Philippines’ exclusive economic zone.

He said the Marcos government should break its trade dependency on China for political pressure to be more effective. “We need to revive our manufacturing sector and attract more foreign investments. All this posturing against China and publicized negotiations with other countries will be useless unless we strengthen our domestic economy, which up to now remains hallow.”

China’s warning on missed opportunities is “a frank and straightforward pacifist encouragement for other countries like the Philippines to not engage in China-bashing and US/Western-praising,” Bienvenido S. Oplas, Jr., founder of think tank Minimal Government Thinkers, said in via Viber.

He said the economic performance of G7 (Group of Seven) last year was mediocre except for Canada and the US. “That means developing countries like the Philippines can’t expect much from them in terms of export absorption. Whereas China and India’s growth would be high — 5% and 7%, respectively.”

“The Chinese ambassador was talking economics and business, while the US State secretary was talking about militarism and war mongering,” he added. — Norman P. Aquino and John Victor D. Ordoñez

French participation in war games may keep world’s eye on China

FILE PHOTO | PHILIPPINE STAR/WALTER BOLLOZOS

By Kyle Aristophere T. Atienza, Reporter

INCLUDING France in the Philippines’ joint sail with the United States as part of the two treaty allies’ annual military drills next month could draw more international attention to China’s aggression at sea, political analysts said on Thursday.

The three-way sail is among the key activities in this year’s Balikatan (shoulder-to-shoulder) exercise, which will be held beyond the Philippines’ 12-nautical-mile territorial waters in the South China Sea for the first time since it started in 1991.

“Including France in this activity is a sign of the Marcos administration’s drive to expand and deepen its defense partnerships, and to draw more international attention to China’s incursions in the West Philippine Sea,” Raymond M. Powell, a fellow at Stanford University’s Gordian Knot Center for National Security Innovation, said in an X message.

Balikatan executive agent Michael Logico on Wednesday said a group sail is a combination of division tactics, search and rescue, and board and search and seizure exercises.

Group sails have been held in past Philippine-American war games, but only inside the 12-nautical mile territorial waters of the country, he told a news briefing.

“We will be utilizing the western side of Palawan, extending beyond our 12 nautical miles so this is also a new thing,” he said. “In previous exercises, we’ve been limited to just 12 nautical miles, now… we are venturing outwards.”

Mr. Powell said holding combined naval exercises outside a nation’s territorial sea is a normal military activity and should not be seen as provocative. “Even so, it deserves notice as a sign of Manila’s concern over the erosion of its maritime security and Beijing’s growing aggression.”

At least four ships from the Armed Forces of the Philippines and one from the French Navy are expected to join the sail, while the US has yet to say how many of its Navy ships will participate.

The Philippines and US have a visiting forces agreement, which is the basis of their military exercises.

The Southeast Asian nation and France have yet to finalize a similar deal, but Paris could join the sail since it will be held outside the territorial waters of the Philippines, Mr. Logico said.

Tensions between the Philippines and China have worsened, and a Chinese envoy earlier this year said their relations were at a crossroads.

A United Nations-backed arbitral tribunal in 2016 favored the Philippines in its case against China, as it ruled Beijing’s expansive claims in the South China Sea were illegal.

Chester B. Cabalza, founder of Manila-based International Development and Security Cooperation, called the upcoming sail among Manila, Washington and Paris a “collective deterrence from like-minded democratic countries upholding a rules-based order in the maritime domain.”

“It will send a united message on the need to uphold the principle of a free and open Indo-Pacific,” he said in a Facebook Messenger chat.

Mr. Cabalza said group sailing beyond a country’s 12-nautical mile exclusive economic zone is acceptable “in the spirit of freedom of navigation operation.” “This is not a violation of the UNCLOS (United Nations Convention on the Law of the Sea) as the Constitution of the seas.”

“It’s not wrong to sail in international waters,” Raymond M. Palatino, secretary-general of Bagong Alyansang Makabayan, said in a Facebook Messenger chat. “It’s not wrong to assert our claim to our maritime borders, but we do not want to be aligned with war-obsessed and genocide-enabling governments like the US and France.”

Joshua Bernard B. Espeña, who teaches international relations at the Polytechnic University of the Philippines, expects more bullying from China in the South China Sea because of these security deals.

During his visit to Manila on Tuesday, US Secretary of State Antony Blinken said Washington’s commitment to the 1951 Mutual Defense Treaty with the Philippines was “ironclad,” noting that it was updated last year to cover armed attacks on the Philippine armed forces, public vessels and aircraft anywhere in the South China Sea.

“While guarantees for the worst-case scenario are there, it is delightful to see that there are also promises on the economic front,” Mr. Espeña said. “I expect the Philippines to be in a good spot for the US’ Indo-Pacific Economic Framework for Prosperity, made robust with needed infrastructure in the digital and maritime economy.”

A trade mission from the US led by Commerce Secretary Gina Raimondo last week unveiled a plan to invest more than $1 billion in the Philippine technology sector.

Chinese President Xi Jinping earlier this month called on his country’s armed forces to coordinate preparations for military conflicts at sea and help in the development of China’s maritime economy.

Philippines posts more than 400 whooping cough cases

TAYLOR BRANDON-UNSPLASH

THE PHILIPPINES has posted hundreds of whooping cough cases this year, the Department of Health (DoH) said on Thursday, as the country’s largest city declared an outbreak.

More than 400 cases of pertussis have been recorded in the first 10 weeks of the year mainly due to disruptions to routine immunization at the primary-care level during the pandemic, Health Secretary Teodoro J. Herbosa said in a statement.

Quezon City has declared a pertussis outbreak after logging 23 cases as of March 20.

Pertussis or whooping cough, a highly contagious bacterial respiratory infection that can be treated by antibiotics, causes influenza-like symptoms such as mild fever, colds and coughs seven to 10 weeks after exposure.

In typical cases, it may develop into a “characteristic hacking cough,” the DoH said. Pertussis is locally known as ubong-dalahit or tuspirina.

There were only dozens of confirmed pertussis cases in the first 10 weeks of 2019 and 2022, and at the height of the pandemic, cases fell to seven in 2021 and to two in 2022, the agency said.

There were 23 whooping cough cases in the first 10 weeks of 2023, when pandemic restrictions had been lifted, it said.

“Disruptions in routine immunization at primary care during the pandemic are seen to be the main reason why, for the first 10 weeks of 2024, there already are 453 reported cases of pertussis,” it added.

The latest tally for Quezon City is high considering that no pertussis cases were logged during the same period last year, the Quezon City Epidemiology and Surveillance Division said in a Facebook post.

The DoH said vaccination is the best protection against whooping cough.

The Health department had recorded 569 measles and rubella cases as of Feb. 24, 163 of which were reported between Feb. 11 and 24 — 3% higher two weeks earlier.

It said cases in all regions except Bicol and Central Visayas had increased in the past month.

“Epidemiologic profile shows that those under five years of age and who are unvaccinated are the most affected,” the DoH said.

Measles spreads from infected people through the air, especially through coughing or sneezing, the agency said. Symptoms include high fever, cough, runny nose and rashes.

“It affects all age groups, but is more common in children,” it said. “There is no specific treatment for the virus that causes measles; however, vaccination protects against it.” — Kyle Aristophere T. Atienza

Senator wants lack of textbooks investigated

BW FILE PHOTO

By John Victor D. Ordoñez, Reporter

A PHILIPPINE Senator has filed a resolution seeking to probe the Department of Education’s (DepEd) failure to procure enough textbooks for students leading to lower scores in such subjects as Mathematics and Writing.

Under Senate Resolution No. 972, Senator Sherwin T. Gatchalian said Filipino students are forced to share textbooks due to a lack of learning materials provided by DepEd, which has led to their lackluster academic performance.

Based on a report by the Second Congressional Commission on Education (EDCOM II), DepEd had only procured 27 out of the 90 textbook titles required for Grades 1 to 10 since the K to 12 program was introduced in 2013.

The report showed that between 2018 and 2022, only P4.47 billion out of the P12.6 billion allocated for textbooks were obligated, but only P951.9 million was disbursed for the textbooks.

Mr. Gatchalian also cited the Southeast Asia Primary Learning Metrics 2019, which said that 8 in 100 Grade 5 Filipino students shared their language and mathematics textbooks, leading to lower scores in reading, writing and mathematics.

He said EDCOM II had consulted with the DepEd, the National Book Development Board and groups of private textbook publishers that cited insufficient development time and a prolonged review process as hurdles to procurement. They had also cited high participation costs and pricing issues that contributed to low procurement.

The Education department earlier committed to deliver 80% of textbooks for Grades 1,4, and 7 by July.

“In the middle of efforts to raise the quality of education in the country, it is important for us to ensure that every student has enough textbooks,” Mr. Gatchalian said.

Marcos couple sick, told to rest

Philippine President Ferdinand R. Marcos, Jr. arrives in Melbourne on Sunday afternoon for a three-day summit between Australia and the Association of Southeast Asian Nations (ASEAN). — PPA POOL PHOTO

PHILIPPINE President Ferdinand R. Marcos, Jr. and his wife had been advised on Thursday to continue to rest in their residence after experiencing flu-like symptoms, according to the presidential palace.

“The President and the First Lady continue to experience flu-like symptoms but with improvements, maintaining stable vital signs,” it said in a statement. “They are advised to continue medications, rest, and hydration for full recovery.”

On Wednesday, the President canceled his appointments after developing the flu-like symptoms following his busy schedule. He has also canceled his participation in a March 22 luncheon organized by journalists from foreign media outfits, which the palace said will be rescheduled. 

“The President continues to work in his residence, handling correspondence and directives within medical advice,” the palace said on Thursday.

“He anticipates resuming full public engagements soon, per his physician’s clearance.”

Mr. Marcos visited other countries in recent weeks, including Germany and the Czech Republic from March 11 to 15. — Kyle Aristophere T. Atienza

NLEX expects 10% traffic surge

VEHICLES approach the NLEX Balintawak toll plaza, May 18, 2021. — PHILIPPINE STAR/ MICHAEL VARCAS

TRAFFIC volume along the North Luzon Expressway is expected to spike by around 10% during the Holy Week, prompting NLEX Corp. to deploy the full force of its personnel to assist motorists.

J. Luigi L. Bautista, NLEX president and general manager, said in a media release on Thursday that 1,500 of its toll and systems personnel will be on duty and that some decongestion projects have been in place for the Holy Week.

“NLEX has implemented decongestion projects in Meycauayan Northbound designed to help ease the expected traffic surge,” said Mr. Bautista. “We are hoping that these decongestion projects, alongside with other measures, will contribute to a more manageable traffic flow.”

Still, the unit of Metro Pacific Tollways Corp. (MPTC) appealed to motorists for cooperation and patience, particularly when traveling to the NLEX-SCTEX-NLEX Connector this Holy Week.

MPTC is the tollways unit of Metro Pacific Investments Corp., one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc.

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

Farmers expose NFA rice sales

PHILSTAR FILE PHOTO

A TOTAL of 9.6 million sacks of rice were allegedly sold by the National Food Authority (NFA) to private rice retailers without proper bidding in the years 2021 and 2022, a farmers organization said on Thursday.

“The alleged sale of around 75,000 bags of aging NFA stocks to private traders in early 2024 is just the tip of the iceberg,” Raul Q. Montemayor, national manager of the Federation of Free Farmers (FFF), said in a statement sent to BusinessWorld. “Much larger transactions occurred in previous years, with buyers paying only P25 per kilo without going through bidding.”

He said this disposal of rice stocks by the NFA in 2021 and 2022 resulted in the agency depleting its rice stocks to only three-and-a-half days’ worth of national consumption by end-2022 — a violation of Republic Act No. 11203 (Rice Tariffication Law) which mandates the NFA to maintain buffer stocks equivalent to 15 to 30 days of national rice consumption. 

The NFA faced scrutiny earlier this month after a report surfaced that it allegedly disposed of 75,000 bags of “aging and deteriorating” buffer stocks of rice worth P93.75 million without undergoing the proper bidding process.

The FFF said that in 2021 alone, almost 5.6 million bags of rice were allegedly sold to traders, with 4 million more sold the same way the following year.

Mr. Montemayor said that they based their rice sale report on inventory and sales data from the 2022 NFA report. “We got the breakdown of (rice stock) sales by buyers from insiders,” he said.

Sought for comment, the NFA said: “We cannot comment on this since the Department of Agriculture and the Ombudsman are already conducting a parallel investigation on the matter.”

Albay Rep. Jose Maria Clemente S. Salceda said he already instructed the Department of Agriculture (DA) to investigate not just the initial alleged anomalous sale of “75,000 (rice) sacks but the full 2019 to 2024 period.”

“The critical matter is that NFA minimizes its losses from being low-balled on its sales of stocks so that it will be able to absorb losses from the retail sector,” Mr. Salceda, who is vice chairman of the House Agriculture and Food Committee, told BusinessWorld in a Viber message.

Mr. Montemayor said the DA should quickly resolve the alleged irregularities in rice stock sales so the NFA can resume its mandate of stockpiling rice supplies meant to be used for emergency and calamity purposes. “Harvests are already peaking, and the NFA must intensify its palay procurement in order to replenish its depleted buffer stocks,” he said.

“It cannot move with so many of its top officials suspended for six months, and some warehouses reportedly padlocked, pending the results of the investigations,” he added. — Kenneth Christiane L. Basilio

P1.23B allotted to power up schools

PHILIPPINE STAR/ MIGUEL DE GUZMAN

THE DEPARTMENT of Budget and Management (DBM) said on Thursday that it has approved the release of P1.295 billion to fund the electrification of schools.

The DBM issued the special allotment release order (SARO) allocating P1.295 billion for the electrification of off-grid schools as well as the modernization of other schools’ existing electrical systems.

Budget Secretary Amenah F. Pangandaman approved the SARO release on March 1. “Investing in education means we are also investing on the needed facilities of our students,” she said in a statement.

The fund would be used to upgrade existing electrical power systems of school buildings, as well as the purchase and installation of appropriate transformers and solar power systems.   

The allocation is under a special provision in the 2024 General Appropriations Act under Program/Activity/Project (PAP) – Basic Education Facilities, which would cover schools in most regions in the Philippines.

The special provision also prescribes that the Department of Education (DepEd) prioritizes the use of solar energy sources for providing electricity to both off-grid and on-grid public schools.

“The fund would be a big help for students and teachers to be more comfortable in their classrooms,” the Budget chief said in Filipino.

DepEd data from 2020 showed that around 1,562 schools don’t have electric power, while 39,335 needed an upgrade of their electrical systems. — Beatriz Marie D. Cruz

Bushfires hit 2 Cotabato towns

COTABATO CITY — Swaths of forests and grasslands, withered by lack of rain since February, have been razed by scattered wildfires in two towns of Cotabato province since Sunday.

As of Thursday, at least 30 hectares of grasslands have gone up in smoke in the Lower Binay area in Magpet town, local officials and community elders interviewed by BusinessWorld said.

Fires, one after the other, also lit up the dry hinterlands of Gambodes and Binoungan in Arakan town until growing big to sweep through the area towards Magpet on Wednesday, they said.

Some residents of these three areas have been displaced and given essential humanitarian aid.

Cotabato Gov. Emmylou Taliño Mendoza also convened the Provincial Disaster Risk Reduction and Management Office to draft a plan with municipal officials on measures to take to forestall bushfires as the summer season sets in.

“We are waiting for the results of the joint investigation on these fires by the local government units in Arakan and in Magpet and the Bureau of Fire Protection,” Ms. Taliño Mendoza said. — John Felix M. Unson

Fil-Am Nation upstages NUNS in national high school tourney

NBTC

THERE will be a new champion in the Smart-National Basketball Training Center Division 1 National Finals.

In a stunning turn, three-time titlist National University-Nazareth School (NUNS) got an early boot as Fil-Am Nation exacted vengeance on the former with a convincing 81-64 win in the Supreme 16 late Wednesday night at the SM Mall of Asia Arena.

Terrence Hill showed the way with an all-around outing of 21 points, six rebounds, five steals and four assists as the fancied Filipino-Americans avenged their finals loss to the Bullpups in style to also barge their way to the Fantastic 8. 

Sebastian Margate had a breakout game of 19 points while former Gilas Youth player Jacob Bayla and NCAA Finals MVP from Colegio de San Juan de Letran Andy Gemao threw in 14 and 13, respectively.

Fil-Am Nation Select, which tasted a 75-64 defeat to NUNS in the finale last year, will face North Luzon champion Yengskivel Sportswear after its 78-70 win over Xavier University-Ateneo de Cagayan University-Sealcor.

Also making the quarterfinals was Batang Tiaong, which first dropped three-peat CESAFI champion Sacred Heart School-Ateneo de Cebu led by the top-ranked high school cager Jared Bahay to Division 2 in the Round of 32 before ousting PPG Tarlac, 80-64 in the Round of 16.

UAAP champion Adamson, University of Santo Tomas, NCAA bets Mapua University and San Sebastian College-Recoletos and One Media TV48 Naga completed the Last 8 of the country’s most prestigious national high school tilt.

In the Division 2, St. Jude College-Dasmariñas headlined the quarterfinal cast after eliminating Ateneo de Cebu, 70-65.

Joining them were Eco Green Technology-Makati, Arellano High School, Philippine Christian University-Dasmariñas, Visayas champion Khalifa-Cebu, St. Roberts International College-Iloilo, Top Flight Sports Canada and UNBL-Don Bosco-Dumaguete. — John Bryan Ulanday

PSC cites women athletes’ role in successful PHL sports agenda

PHILIPPINE Sports Commission Chairman Richard Bachmann — FACEBOOK.COM/PSC.GOV.PH

PHILIPPINE Sports Commission (PSC) Chairman Richard Bachmann championed the women athletes and their unparalleled role in elevating the local sports development in the inaugural Women in Sports Awards Wednesday night at the Rizal Memorial Coliseum.

Tennis sensation Alex Eala and national football team standout Sarina Bolden as Athletes of the Year headlined the star-studded event that feted the Filipinas’ vital role in the international success of Philippine sports.

“Your (women athletes) contribution to the country is seen and felt by everybody. The community of champions you have established is what we need in advancing our agenda and platforms for all athletes,” said Mr. Bachmann.

“To all our awardees, may this be an inspiration in performing your best in every battle in the spirit of dedication and commitment to the sporting community as we all together take steps in achieving a more successful Philippine sport.”

Forty six other Filipina achievers as well as sports executives, coaches, nutritionists, trainers and sports psychologists were recognized by the PSC for their massive contributions beyond the game.

Among the major awardees were reigning world women’s world 10-ball champion Chezka Centeno and Asian weightlifting silver medalist Vanessa Sarno as well as the country’s only Olympic gold medalist so far in weightlifter Hidilyn Diaz-Naranjo, who was feted with the Flame Award.   

Seoul Olympic Games gold medalist Arianne Cerdena, who traveled all the way from the United States, was also honored with a Lifetime Achievement Award, along with seven others, including PSC commissioner and bowling legend Olivia “Bong” Coo.

Sen. Christopher “Bong” Go, Senate Sports Committee Chair, also preached the contributions of the Filipina athletes in the historic event organized by the PSC and the Philippine Council on Women in celebration of International Women’s Month.

“Tonight is a testament to the strength, dedication and passion of Filipino women. You have not only excelled in their respective sports but have also contributed to uplifting the spirit and prestige of our  nation in both the local and international stage,” said Mr. Go.

“We recognize that the journey of our Filipina athletes is one of relentless perseverance and pain. These qualities not only define their paths to excellence but also inspire us all.”

Sen. Pia Cayetano, a major advocate of women in sports but could not be present due to prior commitments, awarded Eala and Bolden with an incentive of P100,000 each for their exemplary athletic achievement in the event backed by Milo, CEL Logistics and Wrist Pod. — John Bryan Ulanday