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Cava quality made clearer: The most recent Cava DO classification

ROGER GOULART founded in 1882 — one of the Cava houses that features a wide-variety of delicious Xarello-led blends. — PHOTO COURTESY OF RIGNO SERRANO OF ICEX.

PENEDÈS, SPAIN — After attending my first Barcelona Wine Week (BWW), I was extremely grateful to be invited to stay longer for a thorough Cava re-education program, courtesy of ICEX (Instituto Español de Comercio Exterior), or the Spanish Institute of Foreign Trade.

ICEX is the agency under the Spanish Ministry of Industry, Tourism, and Trade, that works worldwide with the objective of promoting Spanish companies and products. In this case, this was a program specifically meant to promote Spanish Cava.

The Cava DO office is in Vilafranca del Penedès, just an hour drive from Sants-Montjuïc, Barcelona where BWW was held.

Cava DO is already Spain’s largest wine region export, yet there is a widespread belief that volume, especially for export, can still do better. At present, around 64% of Cava production goes to exports, compared to Italy’s Prosecco of which over 80% of its huge production is exported.

CAVA DO ON THE GLOBAL STAGE
When it comes to sparkling wines, three regional names dominate the global stage: Champagne, Prosecco, and Cava. They are the largest sparkling wine regions in the world, each with its own identity and tradition.

Italy’s Prosecco, from the two neighboring regions of Veneto and Friuli Venezia Giulia, leads in sheer volume, producing an astonishing 667 million bottles in 2025, while France’s Champagne followed with 266 million bottles, and Cava with 218 million bottles despite recent drought challenges. Yet size alone does not tell the full story. Champagne, with its historic legacy, will be expanding soon after adding 40 villages to its appellation as approved in 2008, while Cava has turned a new leaf with stricter classifications to reinforce quality and trust. In this dynamic landscape, the competition is not just about numbers, but about how each region defines excellence in sparkling wine. And the Cava DO is extremely aware of this.

Few wines embody Spain’s celebratory spirit as vividly as Cava. Crafted with the traditional method invented in Champagne, Cava is enjoyed globally — it is Spain’s number one wine export, much bigger than the products of the equally popular Rioja wine region. But in recent years, Cava DO has faced challenges to its reputation. In 2017-2018, nine prestigious bodegas broke away to form Corpinnat (it got its EU recognition in 2019), a new collective group emphasizing terroir-driven sparkling wines from Penedès, citing concerns that Cava’s standards were too broad and diluted.

The formation of Corpinnat reminds me of Germany’s VDP (Verband Deutscher Prädikatsweingüter), an association of wineries that has their own classifications different from the official German Wine Institute classification, though the VDP in Germany is not competing against non-VDP members.

This Corpinnat departure sparked questions: could Cava DO maintain its prestige and consumer trust?

The answer, now that we are in 2026, is a resounding yes. With the full implementation of the new Cava classification system introduced in 2022 (though it had been widely discussed in the Cava DO Regulatory Council several years earlier), the denomination has redefined itself with stricter, transparent, and quality-focused standards.

SHERWIN A. LAO is the first Filipino wine writer member of both the Bordeaux-based Federation Internationale des Journalists et Ecrivains du Vin et des Spiritueux (FIJEV) and the UK-based Circle of Wine Writers (CWW). For comments, inquiries, wine event coverage, wine consultancy and other wine-related concerns, e-mail the author at wineprotege@gmail.com, or check his wine training website https://thewinetrainingcamp.wordpress.com/services/. Also check out his YouTube channel, www.youtube.com/@winecrazy.

‘PREMIUMIZED’ CLASSIFICATION
The classification defined a clear two-tier quality structure: Cava de Guarda and Cava de Guarda Superior. The Guarda is the non-vintage version with minimum bottle aging of nine months, while the Guarda Superior is the premium version, is vintage-specific and has stricter guidelines that include wines having to be 100% organic, coming from vineyards that are 10 years or older, and a maximum yield per hectare of 10,000 kg.

There are three more quality tiers under Cava de Guarda Superior, depending on their bottle aging, like the ones in other Spanish wine regions.

So, the Cava classifications (and their descriptions) are:

Cava de Guarda (nine months aging) – Fresh, youthful, and fruit-driven

Cava de Guarda Superior – No Crianza level

•Reserva (aged 18 months) – Greater depth and aromatic complexity

•Gran Reserva (aged 30 months) – Intense personality, layered aromas

•Paraje Calificado (aged 36 months) – roughly translated as “qualified estate or place,” so exceptional wines from single, distinguished terroirs, with strict yield limits and manual harvests

This two-tier quality structure was designed to “premiumize” Cava, moving away from a focus on high volume to longer aging and higher quality. This hierarchy is not just aesthetics, it guarantees provenance, aging, and production integrity, reinforced by individual quality stamps at each level, and traceability from vineyard to market. By codifying these standards, Cava DO now offer clarity and assurance to consumers all around the world.

INDIGENOUS VARIETALS
While the Cava DO has allowed more varietals to be made into Cava over the years, including Champagne staples chardonnay and pinot noir, I am glad that the original Cava trio of macabeu (spelled with u not o in this region), xarello, and parellada still constitute 82% of all Cava blends. This to me is the differentiation between Cava and Champagne or other sparkling wines.

During our visit to eight amazing Cava DO houses, the consensus was that the most beloved varietal has always been xarello, and in no coincidence that xarello is also the varietal with the oldest vineyards in the Penedès region. This varietal is commended for creating wines with a good acid backbone, excellent aromatics that include green apple, white flowers, almonds and ginger, and even a nice sherry-like complex nose when the Cava has aged longer in lees.

Some of the best Cavas I enjoyed in this trip were made mostly with xarello dominating the blend.

It was also on this trip that I found out that one of the best Cavas I had in the past, Kripta, with its unique amphora-shaped bottle, joined Corpinnat just last year, and that the winery, Agustí Torelló Mata, rebranded to Celler Kripta, and is no longer a Cava DO.

A SPARKLING FUTURE AHEAD
Cava’s journey has not been without turbulence. The breakaway of Corpinnat highlighted the tension between quantity and quality, but it also pushed Cava DO to evolve and address certain concerns. Now, with its fully implemented classification system, Cava DO demonstrates that it is committed to excellence, authenticity, and consumer trust.

For wine lovers, this means that every bottle of Cava carries a promise: whether a young easy-drinking Guarda or a well-crafted Guarda Superior Paraje Calificado, it is a sparkling wine with integrity, tradition, and a renewed dedication to quality. In turning this new leaf, Cava reclaims its place not just as Spain’s most famous sparkler, but as one of the world’s most trustworthy and exciting sparkling wines.

This saying was thrown around a lot throughout Barcelona Wine Week, that “Spain produces the best quality for price ratio wines,” and this statement couldn’t have been truer in the case of Cava. Salud!

 

Sherwin A. Lao is the first Filipino wine writer member of both the Bordeaux-based Federation Internationale des Journalists et Ecrivains du Vin et des Spiritueux (FIJEV) and the UK-based Circle of Wine Writers (CWW). For comments, inquiries, wine event coverage, wine consultancy and other wine-related concerns, e-mail the author at wineprotege@gmail.com, or check his wine training website https://thewinetrainingcamp.wordpress.com/services/. Also check out his YouTube channel, www.youtube.com/@winecrazy.

AC Mobility launches digital wallet for EV fleets

AC MOBILITY HOLDINGS, INC.

AC MOBILITY Holdings, Inc. (ACMobility), the mobility arm of the Ayala group, has rolled out a digital wallet for electric vehicle (EV) fleets and transport groups to simplify payment systems.

The new solution, called ChargeFleet, is a sharable digital wallet that streamlines charging expenses, reduces manual tracking, and improves cost control, the company said in a statement on Wednesday.

The mobile wallet allows fleet managers to allocate and monitor charging credits across multiple drivers on a single platform. The solution also seeks to address operational gaps in adopting EVs, such as fragmented payment systems, reimbursement delays, and limited visibility over charging usage.

Once integrated, ACMobility assigns the charging credits to the client’s fleet manager, who can then distribute these to multiple drivers. Drivers can view and use their assigned credits using Evro, ACMobility’s partner application.

“Our main goal has always been to build a comprehensive EV ecosystem that serves every type of driver… With this new offering, we hope to address a critical gap for our enterprise clients — transport groups and corporate fleets who require a professional management platforms,” ACMobility Head of Mobility Infrastructure Carla Buencamino said.

Looking ahead, ChargeFleet will feature exclusive value-added perks integrated through the partner apps Evro and Power on Wheels, the company’s mobile EV charging station (EVCS).

“These upcoming features underscore ACMobility’s commitment to providing a future-proof support system for the evolving needs of their customers’ businesses,” the company said.

ACMobility’s portfolio consists of its BYD and Kia distribution businesses, Isuzu dealership operations, as well as its EV charging infrastructure and Bosch Car Service units.

The company ended its dealership with Honda Cars Philippines, Inc. last year, along with other brands such as Volkswagen and Maxus, amid its plan to focus on its EV business.

Shares of Ayala Corp. on Wednesday gained 1.7% or P9.50 to close at P569.50 apiece. — Beatriz Marie D. Cruz

Bank ‘risk transfer’ boom needs close monitoring, Basel Committee warns

EURO, Hong Kong dollar, US dollar, Japanese yen, pound and Chinese 100 yuan banknotes are seen in this picture illustration, Jan. 21, 2016. — REUTERS

LONDON — Banks are increasingly turning to bespoke deals with private investment funds to shed credit risk, but the market needs close monitoring as it spawns new vulnerabilities for the global financial system, the world’s forum for banking regulators said.

These “synthetic risk transfers” (SRTs) involve a bank selling all or part of the credit risk of a group of assets to investors such as hedge or pension funds. They allow banks to free up capital while maintaining their client relationships.

SRTs are not new, but they have proven particularly popular in the European Union (EU), with new transactions more than tripling between 2016 and 2024 after EU regulatory changes provided some synthetic securitizations preferential prudential treatment, the Basel Committee on Banking Supervision said in a report on Tuesday.

US volumes have also jumped following regulatory clarity in 2023 on how the deals are treated under bank capital requirements, added the committee, which is made up of banking regulators and central bankers from the Group of 20 economies and other countries.

Among European banks, Britain’s Barclays, Austria’s BAWAG and Greece’s Alpha are the heaviest users of SRTs relative to the size of their corporate loan books — with the average listed lender using them to cover about 12% of those loans, the report said.

WORRY OVER ‘SHADOW BANKING’ TIES
The committee said SRTs help banks boost lending that is subject to lower capital requirements but warned that heavy reliance on them left lenders exposed to the health of nonfinancial intermediaries buying the risk. If those investors falter, this could affect the flow of credit.

“A contraction in credit caused by a protracted freeze in SRT markets could exacerbate an economic downturn and increase stress in the nonfinancial sector, possibly triggering an adverse deleveraging feedback loop,” the committee wrote in the report.

Regulators globally are concerned about the growth of nonbank intermediaries involved in what is often referred to as “shadow banking,” because of a lack of transparency and the possibility of new risks that could endanger broader financial stability.

The committee’s report also highlighted risks over growing links between banks and nonbanks — because banks often finance the very investors buying the credit risk — as well as opaque individual deals and weakening underwriting standards.

While some of these risks are being monitored and addressed, the committee said closer supervision was needed as further growth of the SRT market could multiply the risks. — Reuters

On EO 108, the Office of the Executive Secretary, and sustained growth challenge

On Feb. 5, the Presidential Communications Office announced that President Ferdinand R. Marcos, Jr. had issued Executive Order (EO) 108 that abolished the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) and transferred its powers, functions, and duties to the Office of the Executive Secretary.

The OSAPIEA was created in 2023 under EO 49 and it was headed by Secretary Frederick D. Go. Mr. Go was appointed Finance Secretary last November and he has more duties and powers there.

Executive Secretary Ralph G. Recto, who was the former Finance Secretary, will now have more duties. Aside from overall monitoring and evaluation of all departments and agencies of the Executive branch, the OES will also streamline the Office of the President’s investment and economic affairs functions and promote comprehensive approaches to address current and future economic challenges.

SUSTAINING GROWTH
I checked the growth numbers of East Asia in contrast with those of Europe. I averaged the GDP growth rates into three-year clusters from 2011-2013, 2014-2016, etc. until the last three years. The results are contained in the accompanying table. The highlights are:

1. From 2011 to 2019, the Philippines’s trend was that of high growth along with Vietnam — we were the two fastest growing economies in the ASEAN-6 and just trailing China in the rest of East Asia.

2. Our draconian lockdown from 2020-2021 was horribly wrong. Vietnam and China, along with Taiwan, were able to grow in those years while the Philippines shrank by 9.5% in 2020, the worst in Asia, and the worst in Philippine economic history since post-WW2. Our average growth in 2020-2022 was only 1.3%.

3. We managed to grow above 5% in 2023-2024, but the infrastructure corruption scandal has dragged on 2025’s growth. Nonetheless our average of 5.2% growth in the 2023-2025 period was higher than the rest of the ASEAN-6 and other East Asian dragon economies. The detractors and pessimists are wrong in belittling our recent economic performance.

4. Degrowth is the trend in several European countries, particularly Germany and Austria, while Italy, France, and UK may fall into that trap soon.

Many European nations are focused on globalist agendas like saving the planet; saving Diversity, Equity, and Inclusion; saving Ukraine; and saving illegal immigrants. High growth, saving their jobs, businesses, and industrialization seem to have taken the back seat.

The main economic challenge for the Philippines is how to sustain an average GDP of 5-6%, if not attain 7% and not slip to 4% or lower. To help attain this, here are some Do’s and Don’ts that we should take note of.

1. There should be no more lockdowns and mandatory vaccinations regardless of how strong the globalist medical community and pharma lobby would be, should another big virus emerge.

2. We should not save the planet or save DEI, but rather save our jobs and businesses in order to save the hungry. The national agenda of promoting economic prosperity should not be subsumed under the globalist agenda of promoting ecological central planning.

3. We should follow the growth path, the economic and energy policies, of our East Asian neighbors and not that of Europe or North America. In 2025 all major East Asian nations grew above 3% except Thailand, Japan, and South Korea. This is an indicator that our region remains the most dynamic, the most prosperity-oriented in the world.

4. Finally, promoting the rule of law — that the law applies equally to unequal people and sectors, that no one is exempt and no one can grant an exemption — should be the single biggest function of governments.

In the “social contract” theory elaborated by the philosophers John Locke, Thomas Hobbes, and Jean-Jacques Rousseau, the main purpose government was invented was to secure people’s three basic rights — the right to life, the right to private property, and the right to liberty. There was no right to healthcare, right to education until university, right to monthly cash and food aid, and so on.

These new “rights” are modern inventions developed after societies progressed as a result of the protection of people’s three basic rights. These three basic rights made people very productive, very self-reliant, and not state- or welfare-dependent.

The infrastructure corruption scandal, the endless welfare-subsidy programs that lead to the endless expansion of our public debt, the ever-rising annual interest payments, and ever-rising taxes someday can be addressed if we have more rule of law.

The Office of the Executive Secretary, which is in charge of monitoring that all departments and agencies do their mandated tasks, and as head of overall investments and economic liberalization policies, has to meet high expectations from the public and from key investment actors. It has limited leeway given limited time, but it is working silently and efficiently to meet such expectations.

 

Bienvenido S. Oplas, Jr. is the president of Bienvenido S. Oplas, Jr. Research Consultancy Services, and Minimal Government Thinkers. He is an international fellow of the Tholos Foundation.

minimalgovernment@gmail.com

PHL cyberthreats becoming more industrialized

REUTERS

CYBERTHREATS in the Philippines have become more industrialized, with increasing digitalization among organizations and widespread mobile use by Filipinos giving fraudsters more potential vulnerabilities to exploit, Check Point Software Technologies Ltd. said.

The company’s Philippine Threat Landscape Report 2025 released last week showed that cyberthreat activity affecting organizations in the country are increasing in scale, with its mobile-first population widening the potential attack surface for cybercriminals.

“Cyberattacks in the Philippines are no longer defined by technical sophistication, but by scale, automation, and deception,” Ritchelle Santos, senior cyberthreat intelligence analyst, Check Point Exposure Management Research, said in a statement.

“In an environment where identity, trust, and mobile channels are the new battleground, the safest organizations will be those that protect their digital footprints as carefully as they protect their networks. Staying safe now means verifying everything — every message, every transaction, and every identity — every time.”

For this year, the rise of artificial intelligence (AI) will make scams faster and more believable and widespread as cybercriminals could use these technologies as force multipliers for their attacks, Check Point said.

Growing adoption of contactless payments in the country with the entry of Google Pay and increased e-wallet use is also an area of concern as threat actors could exploit device-level vulnerabilities for fraudulent transactions.

“As online platforms, mobile payments, and AI-enabled technologies become further embedded in everyday transactions, opportunistic threat actors are expected to adapt familiar social engineering and fraud techniques to these environments. Economic incentives, technological adoption, and evolving geopolitical narratives will continue to shape threat actor behavior as the landscape evolves,” it said.

“The Philippine threat landscape has shifted towards high-impact, high-visibility, low-complexity vectors, focusing on phishing, identity abuse, external misconfigurations and cloud-based exposures. These systemic changes require a fundamental shift in national defensive strategies to protect the country’s digital economy.”

Threat activity in 2025 was dominated by phishing, social engineering, and cyber-enabled fraud, with key targets being the government and public sector, financial services, critical infrastructure, and education platforms, the company said in the report.

Phishing website alerts among Check Point’s clients in the country surged by 423% to 3,824 in 2025 from 731 in 2024, the report showed. Smishing or SMS phishing was a prevalent attack point, with fraudsters using telecom-level manipulation to bypass mobile trust barriers.

“Phishing and smishing remained the most common initial access vectors, with SMS-based delivery gaining prominence through large-scale and coordinated campaigns, including those attributed to the Smishing Triad. These operations frequently served as entry points for credential harvesting, fraud, and broader abuse of digital platforms, reflecting the growing exposure associated with mobile and messaging-based communication,” it said.

The company also saw attacks via infostealer malware designed to exploit insecure portals and systems to expose sensitive information like browser credentials.

Meanwhile, recorded ransomware attacks rose to 17 in 2025 from nine the prior year, but these “remained largely opportunistic in nature, affecting a broad range of sectors rather than concentrating on specific industries.”

“The analysis shows that ransomware activity in the Philippines predominantly affected sectors with high operational and financial criticality, highlighting attackers’ preference for organizations where service disruption and data encryption can exert maximum pressure. This trend reflects the country’s increasing digitalization across critical industries, which has expanded the attack surface for financially motivated threat actors,” Check Point said.

Financial fraud and scam operations were also prevalent, supported by social media impersonation schemes, such as attackers faking banks’ AI chatbots to trick consumers.

“While these trends closely mirror broader Southeast Asia and APAC (Asia-Pacific) patterns, the Philippine threat landscape remains particularly exposed due to its mobile-first population, rapid growth of digital payments, and high engagement with social media platforms,” the company said. — Bettina V. Roc

Vikings grows up

WITH AGE comes experience, and so after 13 years of the Vikings buffet restaurants, the Vikings Group opens a new experience called Nyx.

Named after the Greek goddess of the night, the One Ayala restaurant is appropriately sumptuous. On its Feb. 3 preview for its Feb. 4 opening, we saw silver chain mail hanging from the ceiling, stone floors, comfortable private rooms, mood lighting, a lounge singer, free-flowing wine, and, of course, an all-you-can-eat buffet. All of this is in a space of almost 2,000 square meters. which seats 450 people.

It’s a little bit different from other outlets of the Vikings Group (such as its other buffet concepts: Vikings, the slightly upscale Niu, and the more budget-friendly The Alley). Instead of piling on your food on plates like there’s no tomorrow, one heads to a station and points at one’s choice, which they then place in tiny plates and bites reminiscent of degustation offerings. You can either wait for them to finish plating up, or drop off your orders and wait for them at your table.

FIRST DAY JITTERS?
Therein lies the growing pains in this specific new growth: during our experience, it felt like we had to wait forever for our plates to come, and a few sprinklings of flowers and smears of sauce weren’t going to make up for it. That, and we’d finish our bite in seconds, making us wait several minutes more for our next bite.

We were offered their best: foie gras, pasta with scallops and a sprinkling of caviar, and Beef Wellington, among other treats. We clock this up to a career of good meals, but some of the other guests at our table left their offerings untouched: one complained that their free-flowing wine was not at the right temperature; another complained that his Beef Wellington had bacon instead of prosciutto (or some such complaint). Another left behind her bite of foie gras because it wasn’t seared enough. We tried our best not to voice the same complaints (saving that for the time difference between bites), but we will say that we found some of the sashimi a bit too chewy, and our lobster tasting a bit muddy. We suppose if you’re paying more than P3,000 for a meal, not to mention knowing the amount of experience of our hosts, expectations would be very high.

We did like the Italian station (spooning oxtail ravioli with the rich broth didn’t take that long), the noodle station (the duck noodles were excellent), and the carving station (our lamb and our steak were great, if a little bit thin, but we’re docking points for the horseradish sauce which lacked a kick). We give plus points for having food not normally found at buffets (who has the time to fold all that ravioli?). We offer them the grace of first-day jitters, and, well, years of experience backing up the other guests tasting their offerings.

Besides, Charles Lee — second generation of the restaurateur family and independent director of the Vikings Group — acknowledges these growing pains, and promises to make it better for the public. “We have noticed it. We just opened, so we’re sort of in a soft opening stage,” he told BusinessWorld in an interview. “We will fix it. We will add manpower if we have to; we will work on the system. We will change what we have to change. ’Di namin titipirin ’yon (we won’t skimp on that).”

The plan was to change the idea of a buffet from a place to get full into a true experience. “Buffets have been the same for many years,” he said. “What we’re trying to do here is changing the experience.

“We’re trying to make a hybrid between fine dining and buffets,” he said. “We want people to stay as long as possible here… eat as much as you want; drink as much as you can.”

In exploring this new direction, he takes off from changes they’ve seen in what diners want. “We’ve seen how they have been hungry for new things. Not just new flavors and new tastes, but newer experiences.”

THE BUFFET MODEL
When they first opened 13 years ago, they hit a winning formula with Vikings, enabling them to open the buffet restaurants across the nation. Now, they have about 20 eateries under their name, and a lot of them have unlimited dining offers. All of the restaurants are branded with the Vikings name, of course, but then they also have Taishu Yakiniku, Sam Stew, and Tong Yang (acquired from previous owners), among others. “People in the Philippines are always about value,” said Mr. Lee, who noted that unlimited deals are popular here because Filipinos will always try to maximize that value. “If the value is there, and they see they can maximize it, game.”

They’re still playing in the fine dining and a la carte game though: found in Viking’s roster is Lore, in partnership with celebrity chef Myke “Tatung” Sarthou, and Putien, a franchise from Singapore, among others. Recently, they have opened two new franchise: Ikoka Yakitori and Ramen Ibuki, both in BGC, both from Japan. The plan is to open a total of five (that makes three more) Japanese concepts, some of them with Michelin Bib Gourmand recognitions in their home country (such as Ikoka).

Mr. Lee talked about the differences between the challenges of running a buffet and a la carte dining. In a la carte dining, the volumes are lower, in terms of people and inventory. “What’s challenging is you’re limited to the menu and the cuisine that you’re given. If people don’t like it, then that’s it.

“Buffet, at the end of the day, will always be very challenging because of the sheer value of people.” That’s customers and manpower both, but another challenge he cites is always having to know what the diner wants. “How do we know that people like the food that’s being served in the entire line? You need to manage that. If you don’t manage that, you’re going to have so much wastage.” — Joseph L. Garcia

SEC standardizes OPC reporting, bond, and financial penalties

STOCK PHOTO | Image by DC Studio from Freepik

THE SECURITIES and Exchange Commission (SEC) has issued a memorandum circular that aims to ensure consistent enforcement for one-person corporations (OPCs) under the Revised Corporation Code.

While SEC had previously imposed fines for late filings under earlier circulars, Memorandum Circular (MC) No. 10, Series of 2026, standardizes and specifies penalties, deadlines, and bond obligations for all registered OPCs.

OPCs must submit a Form for Appointment of Officers (FAO) within 20 days of receiving their certificate of incorporation for initial roles such as treasurer and corporate secretary.

“Failure to comply with the initial appointment and timely submission of the FAO shall result in a one-time penalty of P10,000,” the MC read.

For subsequent officer appointments, OPCs must file the FAO within five days, with graduated fines ranging from P5,000 for the first offense to P9,000 for the fifth offense.

OPCs are required to submit financial statements within 120 days after fiscal yearend, in line with existing circulars and memorandum orders.

Starting with fiscal years after Dec. 31, 2025, audits are required only for OPCs with assets or liabilities exceeding P3 million. Companies must also disclose self-dealings and include auditor comments.

The Commission noted that substantial disclosure in the Notes to Audited Financial Statement (AFS) may waive those requirements, but all registered OPCs must still file their latest due Audited or Unaudited Financial Statements for monitoring and fine/penalty computation.

OPCs where the single stockholder acts as treasurer must post a surety, cash, or property bond equivalent to the authorized capital stock — from P1 million for stocks up to P1 million, to full capital matching above P5 million.

“For property bonds, the same must be duly annotated on the corresponding certificate of title to ensure enforceability against the property. A certified copy of the title with annotation shall be submitted to the Commission,” the MC noted.

“The OPC must secure its bond from a reputable insurance company, which must be duly registered with and conforms with the prescribed format set forth by the Insurance Commission,” it added.

The bond is due within 30 days of appointment, renewed every two years alongside a P5,000 custodian fee, with non-compliance triggering base fines of P10,000 plus monthly surcharges from P500 to P1,500 per violation.

Appointing a non-stockholder treasurer eliminates the bond requirement and allows release via a notarized affidavit confirming no harm to creditors. The Commission will determine if the filed FAO substantially complies before approving and processing the bond release request.

“In case of approval, the Commission shall direct the release of bond and transmit the released bond to the OPC through the Financial Management Department (FMD) or through the respective processing EOs. In case of disapproval, the OPC shall comply with the requirements as may be ordered by the Commission,” it added.

Existing OPCs without officer appointment filings have 30 days after the circular’s effectiveness to post required bonds or face fines. Those with bonds must confirm they are valid. OPCs previously monitored for delays but unpenalized must pay P5,000 to reset their record, treating future violations as first offenses. Pending monitoring applications under old rules are voided, requiring new filings under MC 10.

The circular amends earlier rules, such as SEC MC No. 6 of 2024 on financial penalties, and extends 2019 OPC frameworks to promote uniform enforcement amid rising OPC formations. — Alexandria Grace C. Magno

HMOs’ profit surges to P3.99B

PHILSTAR FILE PHOTO

THE HEALTH maintenance organization (HMO) industry saw its combined net income rise by nearly 300% last year as companies expanded their customer base and product offerings.

The HMO sector’s net profit stood at P3.99 billion in 2025, surging by 279.92% from P996.52 million in 2024, the Insurance Commission (IC) said in a statement on Wednesday.

This came as total revenues rose by 24.84% year on year to P101.56 billion from P81.36 billion, driven mainly by a 26.82% increase in membership fees to P98.46 billion from P77.64 billion.

Meanwhile, total healthcare benefits and claims disbursed by HMOs reached P74.64 billion, up by 19.35% or P12.1 billion from the previous year.

These payouts represented 76.5% of the total expenses incurred by the industry last year.

HMOs’ combined assets grew by 17.34% to P88.58 billion at end-2025.

Of this, total invested assets climbed by 23.11% to P22.6 billion from P18.36 billion.

Total equity rose by 21.82% to P13.91 billion in 2025 from P11.42 billion in the previous year.

Meanwhile, the sector’s liabilities increased by 16.55% to P74.67 billion last year from P64.06 billion in 2024.

“Recent statistics emphasize the continued improvement in the performance of the HMO industry in 2025, characterized by expanded membership and increased benefits delivered to members,” Insurance Commissioner Reynaldo A. Regalado said.

“This progress not only demonstrates the industry’s commitment to help augment the provision of quality healthcare, but also serves as an encouraging impetus to further strengthen healthcare protection for Filipinos.” — A.M.C. Sy

Ripe old age

STOCK PHOTO | Image from Freepik

YOU REALIZE how old you must look with your walking stick when a well-meaning stranger helps you go down the steps of a suddenly stopped escalator with a proffered arm for support — let me help you down, Lolo. What happened to “Kuya” or even “Tatang”?* And this offer of assistance is sincere and not mocking. (You’re also holding back an ever longer line of people behind you.)

Getting used to being accorded respect in queues at the ATM and restaurant seats can be heartwarming. Respect for the elderly is embraced by our inclusive culture.

At family reunions and parties, the number of people who stand up to greet and kiss you is greater by a ratio of five to one than those you must stand up and touch cheeks with (unless it is a stag party).

Here are some patterns of behavior from those of you who have used your senior discount cards over a decade now.

You attend wakes more often and the only one you know there is lying down with a window over his face. Your role can be to give a nice eulogy full of reminiscences, if you can still remember names and places, as well as who the honored one happens to be.

The topics of your conversation with peers have to do with wellness, mainly the damage control variety for a variety of ailments. Over coffee you exchange numbers related to blood pressure, cholesterol levels, along with the declining value of your investments in equities.

You decide to do something about how you look (fat) and take up a new hobby like Tai Chi. You hunt through your old wardrobe to check which clothes still fit, hopefully something loose and dark to hide the curves. (Check for missing buttons.)

There are more clothes in your storage room than in your closet. Why did you get so many winter clothes for the trips you used to make?

You notice your gray hair multiplying and no one explaining them away as a hereditary trait. Or worse, you have no gray, black, or white hair to speak of, but a uniform shade of dark brown skin which extends to your ear lobes. The telltale color of real hair is still evident in the eyebrows and renegade strands peeping out from the ear and nose.

You find you are too busy to be scheduled for another executive checkup — has it been two years already? Except for minor headaches when you move your head too fast at the sight of bra straps, you tell yourself you feel fine… for your age. Maybe, after a major slip and fall, a visit to the ER may be necessary, sometimes in an ambulance.

As for conflicts and conversational debates on politics, including those in other countries, you tend to be more of an observer watching a verbal tennis match. Who’s keeping score?

You accept contrarian opinions. You realize that other points of view are acceptable. It’s better to agree on some harmless things like the effectiveness of celebrity endorsements or the easing traffic at EDSA. You can laugh at harmless jokes about fake news and the use of AI to make celebrities do jigs set to music.

In chat groups, others may post videos of enjoying a meal at an exclusive Japanese sushi shop in Kyoto just to prove their affluence. (It takes at least six weeks to reserve a table in this restaurant.) Yes, everybody knows how wealthy they are. No need to start an investigation into unexplained wealth.

Things that used to irritate you, like secret allies that sing the praises of a nearby continent, post videos of fake crowds in political rallies, or prone to debate any issue, political or religious, you just shrug off. Why bother? Why convince anyone to take your point of view? Life is too short.

Even conflict in chats can be invigorating, especially as you ignore the toxic repartees and name calling. Anyway, posts can be cleared at any time without having to leave the group.

You are now more comfortable with yourself. You are no longer living somebody else’s idea of who you should have been. You know what you can no longer hope for. You are who you are. And that’s just fine.

*Grandfather instead of Older Brother or Father.

 

Tony Samson is chairman and CEO of TOUCH xda.

ar.samson@yahoo.com

Managed AI tools to curb data leakage risks

STOCK PHOTO | Image from Freepik

By Beatriz Marie D. Cruz, Reporter

PHILIPPINE organizations should deploy managed artificial intelligence (AI) tools to avoid cyberattacks caused by shadow AI practices and lessen the risk of data leakage, according to US-based cybersecurity company Netskope.

“Rolling out a managed AI solution reduces your risk of data leakage significantly because managed AI allows for monitoring while giving the employees the flexibility and speed they need at work,” Netskope Regional Director Kunal Jha said on the sidelines of an event earlier this month.

“If these users are continuing to work with unapproved generative AI (GenAI) applications, that’s creating another big area of vulnerability.”

Shadow AI, or the use of AI applications or systems without the formal approval of an organization’s IT teams, could expose personal data and violate organizations’ privacy regulations.

Risks are heightened as many employees typically resort to using their personal accounts when using AI tools to boost productivity.

“Most cybersecurity incidents are because of a weak link, which is the human being making a mistake, and not necessarily out of malicious intention,” Mr. Jha said.

About 47% of GenAI users globally are still accessing tools via personal, unmanaged accounts, according to the latest Netskope Threat Labs’ Cloud and Threat Report.

“Attackers, conversely, will exploit this fragmented environment, leveraging AI to conduct hyper-efficient reconnaissance and craft highly customized attacks targeting proprietary models and training data,” according to the report.

Mr. Jha also noted the rise of AI agents that are “smart enough to find a way around organizations’ restrictive policies.”

He also highlighted the need for data sovereignty regulations to avoid risks associated with cross-border data leakage.

“Since many AI models are hosted overseas, organizations are now looking at hosting bespoke, on-premise private deployments of AI,” he said.

Some employees also use unauthorized AI tools due to the lack of trust or training on company-regulated GenAI systems.

“Trust really comes from the guardrails that you put into place in terms of what data is uploaded,” Mr. Jha said, noting the importance of training employees when using managed AI tools.

“These form part of best practices on how to actually improve productivity while using a GenAI application without leaking any of your personal data or the company’s sensitive data.”

While Philippine organizations are among the most proactive in terms of evaluating and rolling out AI tools, the country’s cybersecurity readiness “is not where it needs to be,” Mr. Jha said.

The Philippines remains a key area of investment for Netskope, with its local talent of over 100 employees serving functions like finance, back-end shared services, and threat hunting, he added.

Dining In/Out (02/19/26)

McDonald’s brings back cheese and chili dunks

MCDONALD’S Philippines has brought back the Cheese Dunk and Chili Con Carne Dunk. Another fan favorite from 2025 that is making a comeback is the Ebi Burger. The Cheese Dunk is a savory cheese sauce, and the Chili Con Carne Dunk features rich flavors of chili, beef, and spices. The Ebi Burger is a timely offering during the season of Lent. It is a crispy shrimp patty but now made with silky cheese sauce. Both the Cheese and Chili Con Carne Dunks, as well as the Ebi Burger, are available through dine-in, take-out, drive through, and delivery via McDelivery, Grab Food or Food Panda. For more information about McDonald’s products and promos visit www.mcdonalds.com.ph.

Tanduay presents Tanduay Superior Rum

THE Year of the Fire Horse is all about high energy, passion, and determination, and Tanduay raises a toast to brave beginnings with the Tanduay Superior Rum limited-edition label. Tanduay Superior Rum is crafted by combining rum aged for two years with rum aged for up to 12 years. Bright bronze in color, it is bottled at 80 proof with an alcohol content of 40% by volume. On the nose, molasses is followed by fruit notes of orange peel and banana, and rounded out with toasted walnut. On the palate, it has layers of caramel, oak wood, and pepper, with a gentle sweep of nuts and coconut. It is described as having a fresh light to medium body with a medium to long dry finish, and has lingering flavors of molasses and cocoa. Tanduay Superior Rum has received several silver and gold medals from the Monde Selection. Tanduay products are available at www.shots.ph and in leading supermarkets and liquor stores nationwide.

Globe targets wider subscriber base via ‘affordable’ prepaid options

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

GLOBE TELECOM, INC. said it aims to capture growing demand for data services through its prepaid offerings.

“As data usage continues to grow, Globe remains committed to transforming connectivity into opportunities, ensuring that each gigabyte contributes not just to business growth but to improving daily lives and empowering communities,” Globe said in a media release on Wednesday.

The Ayala-led telecommunications company reported that its data revenues reached P101.2 billion in 2025, accounting for the majority of its total mobile service revenues for the year. Overall mobile data consumption rose to 6,614 petabytes.

“Our 2025 results show that Globe is not only growing traffic; we are turning every gigabyte into real, everyday impact for our customers and communities,” Globe President and Chief Executive Officer Carl Raymond R. Cruz said.

As of end-2025, Globe recorded a total of 65.8 million mobile subscribers, marking an increase of 8% from the previous 60.9 million.

The company attributed this increase to network investments, capacity expansion as well as hyper-personalization of service offerings and rollout of 5G, the company said in its financial statement for 2025.

Globe said its prepaid offerings support reliable and accessible internet services. “These prepaid options go beyond affordability by enabling meaningful digital engagement for Filipinos,” the company added.

“Through affordable prepaid plans, GFiber Prepaid, and programs like GoGIVE, we are enabling Filipinos to work, learn, connect, and give back. Every innovation we deliver is designed to make life better, more convenient, and more meaningful,” Globe said.

Previously, the company noted that prepaid services would be a major driver of revenue.

For 2026, Globe expects low- to mid-single-digit revenue growth, despite a decline in 2025.

Last year, Globe’s net income fell 4.12% to P23.3 billion from P24.3 billion in 2024, weighed down by higher depreciation and interest expenses and lower revenues. Total revenue declined by 1.3% to P178.24 billion from P180.59 billion, reflecting slightly lower service revenues.

At the local bourse on Wednesday, shares in the company rose P10, or 0.6%, to close at P1,690 apiece. — Ashley Erika O. Jose

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