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Different goals, same feeling: How today’s buyers are finding the right fit — one search at a time

Whether you’re dreaming about a first home, exploring investment opportunities, or simply looking for a better space to live in, the journey almost always starts with a search. And while everyone’s goals may be different, there’s a common thread: we all want a place that feels right.

Today’s home search is no longer a one-size-fits-all experience — and it shouldn’t be. People want options tailored to their lifestyles, insights that make sense, and tools that support the way they move through the process. That’s where thoughtful digital platforms, like the newly launched RLC Residences website, come in.

The Right Insights to Find Your Forever Home

Young professionals today are starting to see the value of having a place of their own. But for first-time buyers, taking that first step can still feel a bit overwhelming. The new RLC Residences website helps make it easier, offering tools and guidance to explore options with more clarity and confidence.

The new website of RLC Residences matches homebuyers to the right property simply by answering six simple questions.

Designed with flexibility in mind, the site lets aspiring homeowners explore based on what matters most to them — whether that’s location, property type, or budget. By answering a few simple questions, users are matched with RLC Residences developments that fit their preferences, from condos to lots only or house-and-lot options across the country. Visual tools like floor plans, renders, and videos help bring each space to life, making it easier to imagine how it could fit into their day-to-day. And for those still figuring things out, the site offers helpful resources — including a homevestment calculator and informative articles — to guide them through the process and align options with their financial goals.

The journey to homeownership doesn’t have to feel overwhelming. With the right tools, it becomes more about envisioning what’s next — and taking it one step at a time.

The Right Insights for a Profitable Investment

For investors, building a property portfolio is rarely just about the now — it’s about long-term growth, timing, and confidence in your choices.

RLC Residences’ new website features updated information such as property appreciation value, a vital information investors look for in a development.

The RLC Residences website serves as a practical tool for today’s real estate investors. You can easily toggle between pre-selling and ready-for-occupancy units, depending on your preferred timeline and goals. If you’re weighing your options, the platform allows for side-by-side comparisons, giving you insights into location, amenities, and availability to help you make informed decisions. It also provides updated trend details, such as property value appreciation, to help you assess long-term potential more clearly. And with access to market-savvy features like news updates, helpful articles, and financing calculators, you stay in the know without feeling overwhelmed.

Everything is designed to help you browse and analyze at your own pace, making it easier to move forward with clarity and confidence.

The Right Place For the Opportunities Ahead

Not everyone is ready to make a move right away. Some are exploring rental options, while others are simply curious about what’s out there. The RLC Residences website embraces this mindset by creating an experience that welcomes casual browsing. Users can explore properties based on lifestyle preferences, such as proximity to creative hubs, transport access, or wellness spaces. Photo galleries and amenity lists offer a glimpse into what everyday life could look like in each development.

Homepage of RLC Residences Leasing Site

For those looking to rent, the website features a dedicated page for leasable RLC Residences units, providing a streamlined experience. From unit availability and rental fees to leasing details, it’s thoughtfully designed to make the process simple, clear, and aligned with real-life needs. Whether it’s living closer to work, having more room to grow, or gaining independence, the platform connects renters to units where comfort, convenience, and new possibilities meet.

Start exploring at your own pace — and see where the possibilities take you. Visit rlcresidences.com today to experience a personalized home and investment journey built around your needs.

 

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PLDT posts P9.03-B Q1 income, down 8% amid higher expenses

WIKIMEDIA COMMONS/PATRICKROQUE01

By Ashley Erika O. Jose, Reporter

LISTED PLDT Inc.’s attributable net income fell by 8.04% to P9.03 billion for the first quarter (Q1), as higher expenses outpaced modest revenue growth.

Total revenues rose by 1.95% to P55.28 billion for the January-to-March period from P54.22 billion a year earlier.

Service revenues increased by 2.34% to P53.42 billion from P52.2 billion, accounting for the bulk of the topline. Non-service revenues dropped by 8.38% to P1.86 billion from P2.03 billion.

Service revenue growth was mainly supported by steady gains in fiber, enterprise, and information and communications technology (ICT) offerings, PLDT Chief Financial Officer and Chief Management Officer Danny Y. Yu said during a briefing on Thursday.

Enterprise revenues reached P11.9 billion, driven by sustained demand for connectivity and digital solutions across sectors. Corporate data and ICT revenues grew by 1% to P8.8 billion.

Telco core income — which excludes the impact of asset sales and losses from Maya Innovations Holdings — fell by 5.79% to P8.78 billion from P9.32 billion a year earlier.

“We’re navigating a softer market environment, but our fundamentals are intact. Broadband and fiber continue to anchor the business, while digital finance is emerging as a strong new driver. We remain focused on recovery and growth across all segments,” said PLDT Chairman and Chief Executive Officer Manuel V. Pangilinan.

Operating expenses climbed by 5% to P40.55 billion from P38.62 billion in the same period last year.

MAYA TURNS PROFITABLE
PLDT’s digital finance unit, Maya, posted a net income of P127 million for the first quarter, driven by strong lending, deposits, and payments volume.

Loan disbursements reached P120 billion, while deposit balances stood at P44 billion for the period.

“We operate several businesses, several platforms. So, all these platforms across the board will continue to grow in multiples this year,” Maya Chief Executive Officer Orlando B. Vea said.

Mr. Vea said the company is optimistic about Maya’s growth as it seeks to serve the country’s unbanked and underserved market.

“We are just probably in the initial stages of growth. So, we see a lot of upsides in the coming months,” he said.

Mr. Pangilinan said PLDT expects Maya to deliver about P1 billion in profit this year.

“Well, just a simple extrapolation, if it goes to P300 million per quarter, I think we can make it,” Mr. Pangilinan said, adding that Maya is among the company’s “most promising” units.

DATA CENTER
PLDT’s data center unit, VITRO Inc., posted a 37% increase in colocation revenues, driven by sustained demand from hyperscalers and artificial intelligence workloads.

“There are actual locators there (at VITRO Sta. Rosa) already. We still have quite a bit of space to fill up. So, until we are able to prove that we succeed, I think it might be a little early to try to sign down at this stage,” Mr. Pangilinan said.

In April, PLDT inaugurated VITRO Sta. Rosa, its 11th data center. The facility, located on a five-hectare site in Sta. Rosa, Laguna, is said to be the country’s largest data center campus, with a capacity of up to 50 megawatts (MW). Across all sites, VITRO data centers have a combined capacity of nearly 100 MW.

PLDT previously announced plans to finalize the sale of its data center business, ePLDT Inc., to a foreign entity for over $1 billion after talks with Japan’s Nippon Telegraph and Telephone Corp. (NTT) failed to progress.

However, Mr. Pangilinan said the company has shelved the sale as it intends to continue expanding its data center assets.

“We have stopped the process. Because it’s probably too early,” Mr. Pangilinan said.

At the local bourse on Thursday, PLDT shares declined by P8, or 0.63%, to close at P1,264 apiece.

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.

Converge Q1 profit rises 18.4% to P3.02 billion

CONVERGE ICT SOLUTIONS INC./YOUTUBE

LISTED fiber internet service provider Converge ICT Solutions, Inc.’s first-quarter (Q1) attributable net income rose 18.43% to P3.02 billion, driven by residential business growth.

For the January-to-March period, Converge’s total revenues reached P10.8 billion, up 13.21% from P9.54 billion in the same period last year.

Broken down, residential revenues increased 11.51% to P9.11 billion from P8.17 billion, representing the majority of the company’s total revenues for the quarter, while enterprise revenues rose 23.36% to P1.69 billion from P1.37 billion in 2024.

Converge attributed its revenue growth to the increase in residential subscribers and continued expansion of its enterprise customer base.

For the first quarter, the company booked gross expenses of P6.57 billion, an 11.93% increase from P5.87 billion previously.

“We’re among the few in the Philippines authorized by Starlink to resell its services — an acknowledgment of our deep market expertise and commitment to meeting the evolving needs of both enterprise and government clients. More importantly, this is about transforming the way businesses operate. We’re bringing solutions that empower industries to scale and innovate, even in the most remote areas,” Converge Chief Executive Officer Dennis Anthony H. Uy said.

In March, Converge announced its partnership with Starlink to extend broadband access to remote areas, strengthening enterprise connectivity nationwide.

At the local bourse on Thursday, shares in the company closed 48 centavos, or 2.59% higher, at P19 apiece. — Ashley Erika O. Jose

PSE boosts PDS stake to 91.6%

PHILIPPINE STAR/EDD GUMBAN

THE Philippine Stock Exchange, Inc. (PSE) is increasing its stake in Philippine Dealing System Holdings Corp. (PDS) after closing agreements with two banks.

The market operator finalized accession agreements for the PDS shares held by two member banks of the Bankers Association of the Philippines (BAP).

The two banks sold a total of 17,500 PDS shares to the PSE, equivalent to a 0.28% stake.

Following the transaction, the PSE will beneficially own 91.6% of PDS, subject to post-closing conditions.

In addition to its existing 20.98% stake in PDS, the PSE completed transactions with Singapore Exchange Ltd., Whistler Technologies Inc., San Miguel Corp., Golden Astra Capital Inc., Financial Executives Institute of the Philippines Research and Development Foundation, Investment House Association of the Philippines, AIA Philippines Life and General Insurance Co. Inc., Social Security System, Insular Investment Corp., Citicorp Capital Philippines, Inc., Tata Consultancy Services Asia Pacific Pte. Ltd., Mizuho Bank, Ltd., and MUFG Bank, Ltd.

The market operator also finalized deals with BAP and some of its member banks.

In December last year, the PSE reached a P2.32-billion deal to acquire a 61.92% stake in PDS.

The deal involved acquiring 3.87 million shares at P600 apiece.

The market operator said the acquisition will align the Philippine capital market with other markets that have a single-exchange structure for fixed income securities and equities.

The move will also provide more efficient integrated market surveillance and monitoring for both equities and fixed-income markets to enhance investor protection.

“It will provide a single venue in the Philippines for listing and capital-raising, thereby making it easier for companies to tap both equities and debt markets,” the PSE said.

PSE shares fell by 1.69% or P3 to P175 apiece on Thursday. — Revin Mikhael D. Ochave

Gold’s Gym x Metcon introduces Hyrox training

ATHLETES make use of the Hyrox training facility at Gold’s Gym x Metcon. — BRONTË H. LACSAMANA
ATHLETES make use of the Hyrox training facility at Gold’s Gym x Metcon. — BRONTË H. LACSAMANA

THE FITNESS RACE format Hyrox, which blends endurance running and functional workouts, may not be in the Philippines just yet, but many Filipinos have already begun to train for the sport to compete internationally.

Founded in Germany in 2017 by Christian Toetzke, the competition is inclusive in that its components can be easily learned by casual gymgoers. It combines an eight-kilometer run with workout stations peppered in between, like burpees, rowing, and lunges, among others.

These are exercises that fitness-minded people probably already do — all they need is to build endurance and strength to accomplish all of them as part of a race. True to what it entails, the name Hyrox is a mix of the words “hybrid” and “rock star.”

“The good thing about Hyrox is that the entry point of the participants is of all levels. We’re talking female, elderly, youth,” said Gold’s Gym x Metcon Hyrox training club founder Edmundo Vega, who got into the sport coming from the CrossFit community.

Unlike regular workouts at the gym or the high-intensity fitness regimen of CrossFit, Hyrox “doesn’t involve high-skill movements.”

“In one day, we can teach you all the skills involved in doing Hyrox. That makes it scalable, accessible, and more inclusive. That’s the main reason it’s booming right now,” Mr. Vega explained.

In Manila, celebrities like Kuya Kim Atienza, Isabelle Daza, and Drew Arellano are already into it, with some competing internationally in cities like Singapore and Hong Kong. The newly opened Gold’s Gym x Metcon training club dedicated to Hyrox, located in Venice Grand Canal Mall in McKinley, Taguig, aims to foster the growing community of Filipino Hyrox-ers.

Anton Sietereales, creator of a fitness regimen called The Grin Method, presented the workouts involved in preparing for Hyrox at the center’s official launch on May 14.

“Hyrox is a fitness racing sport where you run eight kilometers, but it’s not just about the endurance. It’s also the strength,” Mr. Sietereales said.

A few of the gym’s coaches demonstrated the “H-700,” which is a mini Hyrox workout that condenses the functional stations included in the actual race. The “H” refers to Hyrox, while the “700” refers to the 700 reps across all the workouts — all of which must be ideally accomplished in 10 minutes, by the way.

The order of the workout is: a 300-meter run on a treadmill, 20 reps of bag-facing burpees, 300 meters on the rowing machine, 20 reps of bag lunges (lunging forward while carrying a bag on your back), 40 meters of pushing and pulling a sled, and 20 reps of wall balls (squatting before striking a target with a weighted ball).

Experienced CrossFit and Hyrox athletes easily accomplished this workout in 10 minutes or less. The average occasional gymgoer (as tested by BusinessWorld, among brave members of other media outlets) took about 15 to 25 minutes getting through the daunting “H-700,” with weights adjusted to the minimum for some.

Mr. Sietereales explained that beginners need not be intimidated, since The Grin Method’s holistic approach “targets the general population.”

“It’s really about promoting general physical fitness. It’s comprehensive in that we build on strength, mobility, and accuracy,” he said. “The exercises are inclusive and functional. For example, in real tasks, like when you’re squatting to pick something up or getting your bag and putting it in overhead luggage.”

Beyond general fitness, those who power through and get bit by the Hyrox bug could potentially train to reach competition level, if they’d like.

According to its founders, the Gold’s Gym x Metcon space, now renovated into a comprehensive facility including specialized training zones and even an ice bath and sauna area, aims to gradually foster a community for Hyrox.

TOURISM POTENTIAL
Mr. Vega told BusinessWorld that Hyrox may be booming all over the world as a fitness event, with races taking place in Singapore, Hong Kong, Thailand, Taiwan, Japan, and the like, but the Philippines remains “an untapped market.”

“One particular event in Singapore had 6,500 participants, mostly foreigners. Imagine the tourism involved. It’s our aim in the future to reproduce that here, and opening a Hyrox training club makes that a priority,” he said.

He cited the Filipino class A demographic, or those “with earning capacity to go out of the country just to compete” as the ones who will be willing to pay for topnotch personal training.

“Now is the right time to do it, before Hyrox becomes mainstream here,” Mr. Vega said.

However, one roadblock the Philippines must overcome is the lack of infrastructure and government or private support for such big events. “Right now, we don’t have the correct venue for it, but our standard of living is much lower, so we can easily invite those foreigners and bring in that gym tourism,” he explained.

Hyrox events have a lot of requirements — they need an air-conditioned stadium with many hotels in close proximity. This immediately strikes out the Philippine Arena, which is located in Bulacan, making the Mall of Asia Arena in Pasay City a decent candidate.

“I think we’re more than capable of exceeding Singapore’s 6,500. We can draw in 10,000 people. These participants tend to bring their family or friends, or join in pairs. Hyrox is a spectator event where supporters don’t watch from afar, but travel with you as you compete,” Mr. Vega said.

“That’s a lot of people involved. Imagine the tourism we can bring in if we host a Hyrox event here,” he added.

For details on the Hyrox programs available at the Gold’s Gym x Metcon space in Venice Mall, Taguig, visit the social media pages of Gold’s Gym Philippines, Metcon Philippines, and Hyrox Philippines. — Brontë H. Lacsamana

JG Summit says rebound expected after petrochem shutdown

JG SUMMIT OLEFINS CORP.

GOKONGWEI-LED JG Summit Holdings, Inc. expects a rebound after shutting down its loss-making petrochemical business.

“We are confident that the decision to shut down our petrochemical plant will help improve the group’s overall consolidated results,” JG Summit President and Chief Executive Officer Lance Y. Gokongwei said during the conglomerate’s annual stockholders’ meeting on Thursday.

JG Summit previously said its petrochemicals unit, JG Summit Olefins Corp. (JGSOC), will remain on a prolonged shutdown for at least two years due to market challenges in the global petrochemical industry. JGSOC ceased production in January.

Mr. Gokongwei said all of JGSOC’s debts have been transferred to JG Summit, adding that the conglomerate will focus on preserving the assets in the Batangas plant complex while evaluating strategic options for the petrochemicals business.

He added that JGSOC will also rationalize its manpower following the prolonged shutdown.

“In light of this, we have instituted an employee care program to aid affected individuals in this transition,” he said.

For the first quarter, JG Summit posted a 61% drop in net income to P4.3 billion. JGSOC logged a P3.3-billion loss for the period due to non-recurring costs incurred to facilitate the shutdown.

Moving forward, Mr. Gokongwei said the conglomerate will accelerate the growth and expansion of its food and property businesses, led by Universal Robina Corp. (URC) and Robinsons Land Corp. (RLC), respectively.

“In our food business, we will accelerate volume growth and capitalize on improving consumer sentiment while protecting ourselves against the cost pressures from rising coffee and cocoa prices. On property, we will sustain the expansion of our investment portfolio and drive profitability amidst the challenged residential sector,” he said.

Mr. Gokongwei is also expecting a boost from its airline unit, Cebu Air, Inc., driven by increased travel during the summer season.

“Compared to the previous year, cheaper oil prices, a stronger peso, lower interest rates, and easing inflation all bode well for our businesses,” he said.

Meanwhile, URC President and Chief Executive Officer Irwin C. Lee expects to sustain the food and beverage manufacturer’s momentum amid improving consumer sentiment.

“We are benefiting from more positive consumer sentiment in the Philippines, with easing inflation,” Mr. Lee said during URC’s annual stockholders’ meeting, also on Thursday.

“Our expectation is for this momentum to continue and actually accelerate the interventions that we’re seeing from the business units from past year, carrying forward into 2025 are bearing fruit,” he added.

However, Mr. Lee noted that challenges could affect the company’s growth this year, such as high prices of commodities like coffee and cocoa, as well as tariff-related uncertainties.

“Nevertheless, we are prepared to counteract any measures and any slowdowns. And the businesses are gearing up for continued strong growth momentum for the balance of 2025,” he said.

URC booked a 2% decline in first-quarter net income to P4.3 billion due to last year’s higher foreign exchange gains.

On Thursday, JG Summit shares fell by 4.13% or 76 centavos to P17.62 apiece, while URC stocks were unchanged at P91.95 per share. — Revin Mikhael D. Ochave

The B-Team*

A scene from Thunderbolts* with (L-R) David Harbour, Hannah John-Kamen, Wyatt Russell, and Florence Pugh.

Movie Review
Thunderbolts*
Directed by Jake Schreier

So about that asterisk in the title — (skip this one paragraph if you haven’t seen the picture!) turns out it’s exactly what it signifies, a mark meant to refer to a footnote or omitted matter, in this case the movie’s real name The New Avengers, suggesting several things: 1.) this is about the level of humor we’re getting here on out, more meta and complicated and not really that much funnier, and, 2.) this movie and the characters in it are placeholders for when the real thing arrives.

Which is both unfair and totally appropriate. Thunderbolts* takes the classic premise of misfits so misbegotten they can’t possibly work together and somehow contriving that they not only do so but also win the day: think the original The Avengers (2012), or (off the top of my head) Stripes (1981), or before that and without superpowers (or even military hardware) The Bad News Bears (1976); think all the way back to one of the earliest misfit teams assembled for impossible missions, Akira Kurosawa’s 1954 Seven Samurai, with Florence Pugh playing the Kambei Shimada role as putative leader and David Harbour in the Kikuchiyo role of big-hearted comic relief.

Throw in John Walker (Wyatt Russell) as dishonorably discharged super-soldier; Hannah John-Kamen as Ava Starr, who can phase through solid walls; Bucky Barnes (Sebastian Stan), former Winter Solider turned congressman who struggles in the role of US House Representative; and one Bob (Lewis Pullman) some random clueless dude in pajamas who shows up out of nowhere, just because. All pitted against the Contessa Valentina Allegra de Fontaine (Julia Louis-Dreyfus), director of the CIA, who’s everything poor Bucky is not: when Congressman Gary (Wendell Pierce) calls her “Ms. Fontaine” the Contessa promptly corrects him: “Ms. DE Fontaine; when you address the Secretary of Defense, you don’t call him the Secretary of Fence.”

The Contessa makes for a formidable foe but much of the picture is spent wondering if the team will ever form at all, a fairly entertaining proposition; half the time they’re bickering (which can be fun), the other times they’re fending off troops sent by La Contessa to wipe them out (and thus all record of her criminal activities) — not as much fun, but to his credit Jake Schreier directs these sequences as coherently edited, inventively choreographed battles, part influenced by the John Wick movies (directed by stuntman turned filmmaker Chad Stahelski), part by Captain America: The Winter Soldier (bruising fight style by James Young).

Which means not a lot of super-powering, and I for one like that: a fair amount of kickass, not as many digital effects. Of course, that means most audiences used to gods whizzing about the air lifting entire locomotives and firing lightning bolts might be bored stiff… but maybe not; maybe there’s actually a stable sustainable market for the more realistic stuff, however ludicrously premised. Might help if the budget wasn’t over $100 million, though.

On the sense that the picture is a placeholder — that’s partly its weakness partly its strength, its strength in that it flies its freak flag proudly, declaring its second tier status for all to hear, draws strength from the fact that no one sees it coming and no one expects it to perform (so when it does a decent job it gets a standing ovation). Same for every character in the movie; and when it turns out Bob isn’t that unimportant a character after all, it all falls to Yelena and the bit of rapport she’s built with him and her inexhaustible knowledge and experience of being the lesser rejected daughter of a family of rejected losers (the one noted exception being her deceased older sister) — sure, I can buy that, why not.

Maybe the movie’s big weakness is… we’ve seen all this before, from the losers turned winners premise, to Yelena drawing from her life experience to help others, to the doofus in pajamas who turns out to be the 800-pound gorilla in the room. Did I say Seven Samurai? Maybe as far back as the Bible: “the stone the builders have rejected has become the cornerstone.” Preach it, Moses.

Not to get all biblical on y’all but we’ve seen this before and better. Bob’s later slippages in and out of minds recalls Eternal Sunshine of the Spotless Mind without Charles Kaufman’s free-floating wit and ethereal romanticism; Yelena’s traumas recall Natasha’s back in the Avengers days and while Florence Pugh is arguably the better actress than Scarlett Johansson (she’s taken riskier roles in general, and pulled them off well), I don’t see her doing more than suggesting the kind of psychic burden her character might actually bear, inside of a PG-13 rated comic-book action movie.

Not even leaving this godforsaken universe, when it comes to onscreen bickering there’s James Gunn’s Guardians of the Galaxy movies, and maybe it’s a matter of degree and intensity than any real difference in concept, but why do I feel Gunn’s band of losers is far more endearing and inventive and entertaining than Schreier’s? Is it the number of jokes per minute, or the possibility that Gunn really feels the Zen of being a loser and being bitterly, rebelliously, defiantly funny about it? Maybe the sense that they’re not trying to be funny, simply telling it as it is (or as they feel it) and because of circumstances and because they’re so pathetic and the odds are so badly stacked against them the bile comes out hilarious and unintentionally heroic?

As for the look… gave up having any expectations for Marvel movies years ago, back when real filmmakers (Sam Raimi, Ang Lee) actually directed the pictures. Ryan Coogler made a go at it and at least created a compelling villain in Michael B. Jordan (his longtime actor collaborator) but was ultimately defeated by the Marvel house style; Chloe Zhao attempted and her effort was more character-driven than usual but could be counted as the worst in her filmography (if the best of recent Marvel efforts). The last picture I had any hopes for was Raimi’s 2022 Dr. Strange in the Multiverse of Madness and it had brief flashes here and there, even entire sequences… but was ultimately upstaged by the smaller-budgeted Everything Everywhere All At Once (The Daniels, 2022), and the even teenier-budgeted Filipino independent Leonor Will Never Die (Martika Ramirez Escobar, also 2022 — what dimensional portal opened to release both pictures into this universe that same year, stymieing the mighty Marvel agenda?!).

Meantime, I spotted this name in the closing credits: Kevin Feige. Oh him. Earned billions for his studio, provided zero pleasure to me, to date. The real supervillain of the picture.

*(Not the real Avengers)

Metrobank to expand consumer lending

METROBANK.COM.PH

METROPOLITAN Bank & Trust Co. (Metrobank) is looking to increase the share of consumer loans in its total loan portfolio to help offset narrowing margins amid the Philippine central bank’s ongoing easing cycle.

Metrobank Head of Investor Relations Minda Claver A. Olonan said in an online briefing on Thursday that the listed lender is focused on growing its retail loan portfolio.

“Increasing the consumer [segment’s] share would help us improve the stability of the net interest margins (NIMs), as well as increase current fee income base,” Ms. Olonan said.

The bank targets to bring the share of consumer loans in its total loan book to 25%.

This would help it reach its target return on equity (RoE) and return on assets of 15% and 2%, respectively, in the medium term, Ms. Olonan said. As of March, Metrobank’s return on equity was at 12.85%, while return on assets stood at 1.4%.

Increased consumer loans would also help drive an increase in the bank’s loan-to-deposit ratio to around 85% in the medium- to long-term from the current 82.5%, she added.

The bank does not expect a substantial increase in nonperforming loans even as it increases its exposure to the consumer space, Ms. Olonan said.

“We do a lot of pilot testing to make sure that all the risks are taken account of and these new products will not significantly affect the overall health of the portfolio. That’s why the expansion is actually on a gradual phase and all the new products are tested, especially if you’re going to another market segment,” she added.

Metrobank Treasurer and Head of Financial Markets Sector Fernand Antonio A. Tansingco said at the same briefing that the increase in their RoE could be driven by several factors.

“One is the increased leverage of our balance sheet. As you know, we are rightsizing our capital. So, with the correct amount of capital vis-a-vis the risk that we’re taking, we think that we can increase RoE,” Mr. Tansingco said at the same briefing.

“Number two is that we’re improving efficiencies with the tail end of our efficiency measures, including automation, changing of our core banking system, and a refresh of our operation system. This will improve the efficiencies of our operations. And the third is expansion of market share — getting more clients on board, getting a bigger share of wallet for the industry, and riding the growth trends of the Philippine economy,” he added.

Metrobank is also looking to increase the share of longer-dated bonds in its portfolio to help cushion the expected compression in margins, Mr. Tansingco said.

“We are buying long-dated government securities… because that would enable us to lengthen duration at the same time maintain the liquidity… We feel that we’re also quite aggressive on long-dated assets such as mortgages, term loans to our customers.”

Mr. Tansingco said they remain positive on the outlook for the Philippine economy despite some risks caused by external developments, adding that the government’s infrastructure push could help drive their loan growth.

“A big chunk of our loan growth is large loans to corporates as they expand their capacity right after the hiatus caused by the uncertainties after the pandemic and the US and global trade wars. But they’re going back on stream, and we expect more demand… as they improve their capacity and try to anticipate the growth of the Philippine economy,” he said.

“In summary, given the current market conditions, we see some opportunities and potential headwinds in the coming months. Among the positives, we are hopeful of continued recovery in corporate capex (capital expenditures) and discretionary consumer spending… What could put this at risk could be weaker macro conditions such as renewed inflationary pressures and some volatility in the exchange rate, which could affect consumer and business sentiment.”

He added that geopolitical and financial stability risks could affect domestic markets.

“On the domestic front, the more intense competition in both assets and liabilities could also affect margins and overall profitability. Amidst these challenges, the bank’s high NPL cover would allow flexibility for us to manage potential risks as well as credit costs. Also, our strong capital and liquidity position… will help us continue to support loan demand and efforts to improve shareholder returns,” Mr. Tansingco said.

Metrobank’s net income rose by 2.13% year on year to P12.253 billion in the first quarter on the back of strong growth in its fee and trading income and the sustained expansion of its lending business.

Its shares closed at P78 apiece on Thursday, down by P1.60 or 2.01% from the previous day. — A.M.C. Sy

RCI net income hits P14.2 billion on land value appreciation

Roxas and Company, Inc. (RCI) delivered record-breaking Net Income After Tax in 2024, surging to P14.3 billion, a 978% increase from P1.3 billion in 2023. This was driven by a P20-billion fair value gain on investment properties following the resolution of the decades-long legal cases of the Roxas estate in Nasugbu. The milestone paves the way for the long-term land development and growth of the areas retained by RCI.

The gain offset lower operating performance of business units, notably its budget hotels and bulk coconut exports. The realty unit deferred several projects to finalize joint venture details and relaunch with refined customer offers. Overall revenues of P526 million was 32% below 2023, resulting to a 30% drop in gross profit.

RCI refinanced as well as reduced key loans in 2024, successfully negotiating with the majority of its creditors in the year. The payments and stronger balance sheet substantially improved debt-to-equity ratio to 0.43:1.

Anya Resort Tagaytay (ART) refurbished all of its villas and upgraded dining and spa options. It was awarded the Philippines’ Leading Boutique Resort at the 31st World Travel Awards for the second straight year.

Roxas Sigma Agriventures, Inc. (RSAI) signed a six-month coconut cream supply agreement for a major player to commence in early 2025, renewable up to one year. This will reverse the low production levels in 2024 and together with a robust order pipeline, optimize plant utilization.

Roxaco Land Corporation (RLC) entered into a deal with a local developer to restart and complete the Montana project. It also concluded a partnership agreement for the land development of Anya Phase 3. RLC’s crematorium and columbarium venture in the San Antonio Memorial Garden (SAMG) facility held a successful groundbreaking.

RCI’s master plan for the development of the recovered properties is in progress, using the results of Leechiu’s Highest and Best Use (HBUS) study. The Company is well-positioned to pursue profitable and sustainable growth moving forward.

 

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Cebu’s Topline sees 37.7% jump in Q1 net income

PHILIPPINE STAR/EHDA M. DAGOOC

CEBU-BASED fuel retailer Top Line Business Development Corp. (Topline) saw its attributable net income climb 37.7% year on year to P37.86 million in the first quarter, buoyed by growth in fuel volume sales.

“Our solid first-quarter performance and the decision to declare dividends reflect Top Line’s resilience and growth-oriented strategy amid current volatile market conditions. This salvo also underscores our unwavering commitment to sustainable growth and operational excellence,” Top Line President and Chief Executive Officer Eugene Erik Lim said in a media release on Thursday.

For the first three months, gross revenues increased 36% to P1 billion from P738.7 million in the previous year.

During the period, the company said it sold approximately 21.8 million liters of liquid fuels, higher by 46% from last year’s 14.9 million liters.

“This growth stems from strategic expansion, including an expanded distribution network with new commercial client acquisitions, high retention rates among existing customers, and improved retail market penetration,” the company said.

Top Line made its market debut in April, the first initial public offering (IPO) for the year.

The fuel retailer raised up to P732.6 million from its IPO, which consisted of 2.15 billion primary shares with an overallotment option of up to 214.84 million secondary shares.

At the local bourse on Thursday, shares in the company closed unchanged at P0.355 each. — Sheldeen Joy Talavera

San Miguel Corp. announces Regular Meeting of Stockholders on June 10 via remote communication

NOTICE OF REGULAR MEETING OF THE STOCKHOLDERS
June 10, 2025

The Regular Meeting of the Stockholders of San Miguel Corporation will be held on Tuesday, June 10, 2025 at 2:00 P.M.

The Stockholders’ Meeting will be conducted via remote communication and livestreamed at the Company’s website. Stockholders can attend the meeting by remote communication.

The Agenda of the Meeting is as follows.

  1. Certification of Notice and Quorum
  2. Approval of the Minutes of the Regular Stockholders’ Meeting held on June 11, 2024 and the Special Stockholders Meetings held on August 8, 2024 and March 27, 2025
  3. Presentation of the Annual Report
  4. Ratification of Acts and Proceedings of the Board of Directors and Corporate Officers
  5. Approval of Directors’ Fees for 2024
  6. Appointment of External Auditors
  7. Election of the Board of Directors
  8. Other Matters
  9. Adjournment

Stockholders who would like to attend the online meeting should access the 2025 SMC AGSM Website at www.sanmiguel.com.ph/AGSM2025 to obtain the following, namely:

(a) the minutes of the 2024 Regular Stockholders’ Meeting,
(b) the minutes of the Special Stockholders Meetings held on August 8, 2024 and March 27, 2025,
(c) the resolutions of the Board of Directors beginning January 1, 2024 which will be available online beginning May 16, 2025,
(d) the ballots and proxies to attend the meeting, and
(e) the link to view the livestream of the meeting which will be available on the day of the meeting.

During the meeting, the Company shall entertain questions and comments from the stockholders after the presentation of the Annual Report. Questions and comments must be submitted either in advance or during the meeting by email to stockholders@sanmiguel.com.ph. Questions which were not answered during the meeting shall be forwarded to the Office of the Corporate Secretary for the appropriate response.

Ballots and proxies can be submitted via email at stockholders@sanmiguel.com.ph which submission shall be duly acknowledged and validated by the SMC Stock Transfer Service Corporation. For individual stockholders, the submissions must be accompanied by a copy of a government issued ID as proof of identification. For corporations, the submission must be accompanied by a certification from its Corporate Secretary stating the corporate officer’s authority to represent and sign on behalf of the corporation.  Kindly submit to the SMC Stock Transfer Service Corporation the original signed and notarized documents within a reasonable time after the resumption of regular business operations.

The deadline for submission of ballots and proxies is on May 27, 2025.  Validation of ballots and proxies will be on June 3, 2025, at 10:00 a.m. at the SMC Stock Transfer Service Corporation Office, 2nd Floor, SMC Head Office Complex, No. 40 San Miguel Ave., Mandaluyong City, Philippines.

 

                                                                        (Original Signed)
Virgilio S. Jacinto
                                                                          Corporate Secretary

 

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Stuff to Do (05/16/25)

Go to Over October’s single launch show

FILIPINO band Over October is celebrating the release of its new single, “BITIN,” on May 16 with a show that will feature two back-to-back sets packed with chart-toppers, deep cuts, and crowd favorites by the band. Gates open at 7 p.m. A Healy After Dark will also give a special guest performance. The show takes place at 123 Block in Mandaluyong City. Walk-in tickets cost P600.

Attend a lecture on music during Japanese time

THE Roderick Hall Memorial Lecture Series, hosted by the Filipinas Heritage Library, will continue this weekend, on May 17, with National Artist for Music Dr. Ramon P. Santos presenting a lecture titled “Philippine Music During Japanese Occupation: A Disrupted Evolution of a New Artistic Language and National Identity.” Co-presented by the National Commission for Culture and the Arts (NCCA), the talk aims to explore the complex cultural landscape of Philippine music at a tumultuous time, when Filipinos were in the midst of forging a national identity after centuries of Western colonial influence. The lecture begins at 2 p.m. on May 17 at the Ayala Museum in Makati. Regular tickets are P300, seniors and PWDs have a discounted price of P210, and students can enter for P150.

Visit Yuchengco Museum for free

TO CELEBRATE International Museum Day weekend, the Yuchengco Museum is offering free admission to its various exhibits on May 17 and 18. The exhibits include the Radiance photography collection by Lita R. Puyat at the RCBC Plaza courtyard, the United Architects of the Philippines’ Architecture and Urban Visions: The Power of Imagined show on the ground floor and the third floor, and a display detailing the life of Dr. Jose Rizal at the second floor Rizal Gallery. The fourth floor has a Collector’s Choice exhibit of paintings by Filipino masters, and an exhibit honoring the life and work of the museum’s founder, Ambassador Alfonso Yuchengco.

Watch a jukebox musical

THE power of drag, the Filipino obsession with rags-to-riches fairy tales, and the unenviable crisis of identity at an age of heightened scrutiny online all come together in the latest jukebox musical, Delia D.: A Musical Featuring the Songs of Jonathan Manalo, which has performances at the Newport Performing Arts Theatre until June 8. Directed by Dexter M. Santos and presented by Full House Theater Company, the show is a cautionary tale about change that is both campy and empowering. Tickets to Delia D.: A Musical Featuring the Songs of Jonathan Manalo, with prices starting at P1,000, are available via SM Tickets, Ticket World, HelixPay, and Newport World Resorts Box Office.

Score a discount at Surge Gateway Club

SURGE Fitness + Lifestyle has officially opened its newest and most advanced facility, Surge Gateway Club, located at Gateway Mall 2 in Cubao, Quezon City. The facility includes the Bauhaus-inspired Tasty Habit Café, an arena dedicated to combat sports training, an apparel corner selling the exclusive Zest line of performance activewear, a pickleball court, a martial arts dojo, a recovery area with steam and sauna rooms, a co-working lounge, and billiards and ping pong areas. Surge Gateway Club will offer group classes, personalized coaching, and community-focused events. New members who sign up by May 16 can enjoy 50% off the starter kit fee and zero pro-rata charges.

Attend the Binibining Pilipinas glam shot exhibit

THE Binibining Pilipinas 2025 candidates take the spotlight at a glam shot exhibit at Quantum Skyview, Gateway Mall 2, opening on May 19. On view will be seven-foot portraits of the candidates taken by official pageant photographers Raymond Saldaña and Owen Reyes. The beauty queens were all styled by Patrick Henry Mergano, with assistance from Klickbox Studios’ Kyle Magsino and Frederick Reyes, and accessorized by Christopher Munar.

Listen to new Avril Lavigne, Simple Plan song

SINGER Avril Lavigne and rock band Simple Plan have teamed up to deliver a modern anthem titled “Young & Dumb,” out now on all digital music streaming platforms. Accompanying it is a music video depicting the carefree early days of living like a rock star, paralleled by similar yet different raucous experiences today. The video is available online on YouTube.

Watch drama anthology Magpakailanman

THE new episode of Magpakailanman on May 17, titled “3 Sisters, 1 Lover,” will star four rising Sparkle artists: Kelvin Miranda, Arra San Agustin, Liezel Lopez, and Thea Tolentino. Also appearing in the episode is veteran actor Leandro Baldemor. The story will follow a man who unknowingly falls in love with three different women at various points in his life, each of whom turn out to be sisters estranged by past family conflicts. The episode is directed by Mark A. Reyes and written by Vienuel Ello. New Magpakailanman episodes air every Saturday at 8:15 p.m. on GMA-7.

Listen to Vilmark’s single honoring his mom

IN CELEBRATION of mothers this month, Vilmark has released a single expressing love and gratefulness for his mom. Titled “Sa Piling Mo Lang,” the song’s lyrics savor the little moments and special connection shared with a mother. It is out now on all digital music streaming platforms worldwide.

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