Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 281

ADB includes PHL agriculture in PPP Monitor

BW FILE PHOTO

THE ASIAN Development Bank (ADB) said it included agriculture projects in the 2025 edition of its public-private partnerships (PPP) monitor for the Philippines.

“We have conceived this product as a comprehensive reference document of developing member countries’ PPP environment. It has details on the PPP regulatory and legal framework at the national and local level and also detailed analysis of sectors that are covered in the monitor, including transport, energy, as well as solid waste, health, education, housing, and financial. And for the first time, and for the Philippines, it includes agriculture and fishery. The reason for that is because we aligned the document with the country partnership strategy between Philippines and ADB, which highlights the catalytic role of the private sector in food security,” Isabelle Chauché, ADB Office of Markets Development and PPP, said in a speech on Friday.

A flagship ADB publication, the PPP Monitor profiles a country’s ability to successfully build and sustain PPPs.

The downloadable documents can be used by investors to identify priority sectors and helps governments identify gaps in legal, regulatory, and institutional frameworks.

“Agriculture is an important and timely focus. It is a priority for the government. It’s a priority for the Asian Development Bank. We together with the Department of Agriculture and other partners have been engaging with the private sector in ventures, such as the Dali supermarket chain. We are exploring opportunities in aquaculture and fishing ports etc.,” ADB Southeast Asia Department Director General Winfried F. Wicklein said.

The ADB noted that challenges remain in the Philippines’ PPP landscape, including delays in right-of-way or site acquisition by the government, political and regulatory risks, challenges within the implementing agencies such as weak absorptive capacity and coordination, and climate impacts.

Ms. Chauché added that climate change also poses a risk to PPPs in the Philippines, and cited “the need to properly assess any PPPs structure before processing.”

From 1990 to 2023, Ms. Chauché said 305 Philippine projects qualified as PPPs, valued at $25 billion to $50 billion.

“The PPP market growth has been driven by an active private sector and availability of liquidity.

57% of the PPP procurement has been done through unsolicited proposals. So as the capacity of the government and the LGU (grow), we expect this number to decrease to the single digits, as is the case of most of the PPP markets in the developed world,” she said.

“We are increasingly ramping up our work also with private sector on a non-sovereign basis,” Mr. Wicklein said. — Aaron Michael C. Sy

CMEPA: Catalyzing inclusive growth through smarter investment taxation

IN BRIEF:

• CMEPA introduces significant changes aimed at optimizing the taxation of capital markets through a simplified and equitable tax system.

• The law seeks to level the playing field by promoting a fairer tax structure that will empower ordinary Filipinos to participate in the capital markets and diversify their sources of income.

At the core of a civilized society lies a sound and progressive tax system that empowers the state to fulfill its functions and advances public welfare. In the Philippines, taxes accounted for approximately 86% of government revenue in 2024, supporting public expenditures across vital sectors such as education, healthcare, infrastructure, and national defense. This underscores the fundamental principle known as the lifeblood doctrine — that taxation is essential to survival of a nation.

However, beyond its primary role in fiscal adequacy, tax policy is also increasingly used as a tool in strategically regulating economic growth and development. Various governments place much emphasis on the design of tax structures that would not only raise the necessary revenue, but also influence investment and consumption, improve efficiency, and promote equity. Over time, the Philippine tax system has sought to achieve this through the introduction of landmark reforms, such as TRAIN, EoPT, CREATE and CREATE MORE, RPVARA, VAT on digital services, and, recently, Republic Act No. 12214, or the Capital Markets Efficiency Promotion Act (CMEPA).

Signed into law by President Ferdinand R. Marcos, Jr. on May 29, CMEPA introduces significant changes aimed at optimizing the taxation of capital markets through a simplified and equitable tax system.

KEY AMENDMENTS UNDER CMEPA
Effective July 1, CMEPA introduced a range of reforms that incentivize investments in capital markets and reduce transaction costs.

1. The uniform 20% final tax rate eliminates the exemption on interest income earned by individuals from time deposits with a maturity of at least five years (and consequently, the tiered rates upon pre-termination). Likewise, the 15% preferential rate on interest income from foreign currency deposits is increased. However, tax exemption and preferential rate on financial instruments issued or transacted prior to July 1 becomes subject to the prevailing tax rate at the time of its issuance for the remaining maturity of the relevant agreement.

2. CMEPA repeals the income tax exemption previously granted on gains derived from the sale and other disposition of bonds with a maturity period of more than five years.

3. Foreign shares not traded through a stock exchange are subject to the 15% capital gains tax.

4. Significant reduction in stock transaction tax from 0.6% to 0.1% of the gross selling price or gross value in money. Notably, the scope is expanded to cover not only the sale or exchange of shares listed and traded through a local stock exchange, but also the disposal of domestic shares listed and traded on foreign stock exchanges.

5. The documentary stamp tax for the original issuance of shares of stock has been reduced from 1% to 0.75% based on the par value of such shares of stock (now comparable to the rate on debt instruments).

CMEPA UNDER A CRITICAL LENS
While CMEPA is relatively new, it has generated considerable buzz. Although generally praised by policymakers and market stakeholders, the law has also drawn controversy, fueled in part by the rapid spread of misleading information on social media. The alleged imposition of taxes on savings prompted strong backlash and panic from the general public. The Department of Finance (DoF) has since clarified that the law merely standardizes existing tax rates and does not impose a new tax on savings. Instead, CMEPA corrects a long-standing imbalance in the tax system that disproportionately favored the wealthy. According to the DoF, the law seeks to level the playing field by promoting a fairer tax structure that will empower ordinary Filipinos to participate in the capital markets and diversify their sources of income.

Despite this clarification, skepticism remains. Critics argue that many of the law’s benefits, such as simplified tax rates, lower transaction costs, and alignment with regional markets, disproportionately favor the high-income earners who are more likely to own and invest in stocks and bonds. Even tax reforms that seem neutral, such as the flat 20% final tax rate, may have a regressive impact, especially for small savers to whom every peso of interest income counts.

These criticisms highlight deeper systemic issues in economic disparity. As of 2024, the Bangko Sentral ng Pilipinas (BSP) reported that only 25% of households had savings, majority of which kept their money in a bank. With the remaining 75% of households lacking the necessary disposable income to save, investing is not just hard; it seems impossible. In addition to economic disparity, the Philippines also faces the problem of financial literacy. In 2021, only 2% of Filipinos were able to correctly answer all six basic financial literacy questions in the Financial Inclusion Survey conducted by the BSP.

The inadequacy in financial knowledge renders the general public vulnerable to predatory financial schemes, poor investment decisions, and fake news — as seen in the recent backlash over the misinterpretation of CMEPA’s provisions. Given the current situation, even the most well-intentioned tax reform remains out of reach to the ordinary Filipino. The question remains, then: who is best positioned to take advantage of and benefit from efficient capital markets?

Despite these challenges, the government has made strides toward building a more inclusive financial system. The National Strategy for Financial Inclusion (NSFI) developed a roadmap that aims to improve access to finance, especially for the underserved. Since its launch, account ownership in the Philippines has increased from 29% in 2019 to 56% in 2021, with over 22 million Filipinos gaining access to formal accounts (e.g., e-money, bank deposit, accounts with microfinance NGO, cooperatives and savings & loan associations, etc.). The NSFI also reported key milestones in the promotion of digital finance, strengthening financial education, and consumer protection.

A LONG-TERM VISION OF FINANCIAL INCLUSION
It is important to recognize that CMEPA is part of a broader, long-term strategy. As the Organisation for Economic Co-operation and Development (OECD) acknowledges in one of its tax policy studies, while certain tax reforms are intended to improve economic performance, they can also lead to temporary inequities in the tax system. Particular groups may benefit more in the short run while others bear a disproportionate share of the costs. Since the economic benefits of these tax reforms are usually realized over time, the efficiency gains cannot immediately offset the additional burden felt by the marginalized. 

As policymakers navigate the trade-offs between efficiency and equity, they must remain vigilant to ensure that tax reforms do not deepen existing inequalities. A truly progressive tax system isn’t just about growth — it’s about growth that includes everyone, especially the underserved and vulnerable communities.

While many Filipinos may not immediately benefit, the goal is to gradually open the capital markets to a wider base of participants through lower transaction costs, optimized tax structures, and simplified compliance. These tax reforms can eventually create a more accessible financial system where even smaller Filipino investors can start to build wealth.

While there is still much work to be done, the goal to democratize access to wealth-building opportunities is clear. If implemented in tandem with inclusive strategies, CMEPA may truly realize its goal of efficient and accessible capital markets.

This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinions expressed above are those of the authors and do not necessarily represent the views of SGV & Co.

 

Jay A. Ballesteros is a financial services tax partner and Karenza Marie S. Gonzales is a financial services tax senior associate, both of SGV & Co.

Gov’t crackdown on corruption raises need for FOI law — analysts

PRESIDENT Ferdinand R. Marcos, Jr. held a press conference on Monday in Malacañan Palace during the launch of the “Sumbong sa Pangulo” website, which will allow the public to report issues on flood control projects.— PHILIPPINE STAR/NOEL B PABALATE

By Kenneth Christiane L. Basilio and Chloe Mari A. Hufana, Reporters

PRESIDENT Ferdinand R. Marcos, Jr. should consider prioritizing the pending Freedom of Information (FOI) bills in Congress to help push for its approval, analysts said on Sunday, after he challenged investigative journalists to probe alleged irregularities in flood control projects.

“When the President acknowledges the role of investigative journalism, it naturally opens the door to FOI. Otherwise, it risks sounding like empty praise,” Ederson DT. Tapia, a public administration professor at the University of Makati, said in a Facebook Messenger chat.

“FOI is the institutional backbone of transparency; without it, rhetoric remains theoretical,” he added.

The President last week unveiled a list of top contractors that bagged most flood control infrastructure projects. Asked whether the firms had links to government officials, Mr. Marcos said it was the job of investigative journalists to dig deeper into the issue.

The Philippines lacks an FOI regime that would allow Filipinos access public information despite the 1987 Constitution recognizing the people’s right to know. An enabling law is needed for its full implementation.

Multiple FOI proposals filed since 1992 have failed to pass, primarily due to a lack of legislative urgency. A 2016 executive order by former President Rodrigo R. Duterte established FOI mechanisms for the Executive branch, but not for Congress or the Judiciary.

Its passage, however, comes with political risks, Mr. Tapia said.

“It can expose weaknesses not only in the executive but also in Congress and local governments,” he said.

“Allies may resist. But the benefits are strategic: it signals seriousness in fighting corruption, strengthens the President’s reformist image, and creates a legacy measure that future leaders cannot easily roll back.”

Anthony Lawrence A. Borja, an associate political science professor at the De La Salle University, said the lack of an FOI law keeps civil society groups “having limited capacity” to keep an eye on government transactions.

It may also hamper Mr. Marcos’ transparency initiatives, he added. “Without an external force, government ‘self-correction’ can end up being subject to patronage and partisanship, with the most loyal, useful, and powerful being excluded from the pursuit of accountability.”

Beyond FOI, the government should also look at coming up with programs that could improve interest towards demanding for public information, said Mr. Borja.

“This must be tied to stronger protection for investigative journalists if not a subsidy for this field to encourage its growth as an independent arm for transparency and accountability,” he said.

“Anything short of a comprehensive policy addressing both the supply and demand for transparency and accountability is nothing more than the perversion of good governance practices for partisan cleansing and patronage politics,” he added.

Other reforms should target tougher campaign finance transparency, stronger whistleblower protections, and stricter disclosure of statements of assets, liabilities and net worth (SALN), Mr. Tapia added.

The President last week launched the “Sumbong sa Pangulo” website, which serves as a platform for the public to track and report issues on flood control projects in their areas.

Data from the Presidential Communications Office showed the portal received 1,148 reports, 823 feedback entries, and nearly 85,000 views within three days. 

This is in line with Mr. Marcos’ pronouncement during his fourth State of the Nation Address, during which he lambasted those involved in alleged anomalies.

2028 ELECTION NARRATIVE
Meanwhile, the President’s efforts to deliver on his policy agenda, specifically on anti-corruption and transparency, could help him carve out a distinct political identity while strengthening his chances of shaping the 2028 presidential race, according to a political analyst.

“Mr. Marcos delivering on this policy has the potential to cover two grounds: it gives his base a narrative of achievement and policy leadership that cannot be undermined by the perceived dominance of his cousin, [House] Speaker [Ferdinand Martin G.] Romualdez, and it will bolster the narrative of succession if they so push that,” Hansley A. Juliano, political science lecturer at the Ateneo de Manila University, said via Facebook Messenger.

Such a move could also appeal to voters hesitant to back the Marcos brand, particularly those from the opposition, if the President projects himself closer to reform-oriented or technocratic leaders rather than his populist allies, he added.

The stakes are high as Mr. Marcos seeks to cement his legacy amid intensifying political maneuvering ahead of 2028. His ability to project stability and reformist credentials could define not only his administration’s standing but also shape the broader contest between the Marcos and Duterte camps — two dynasties whose rivalry is increasingly setting the terms of Philippine politics.

Once a formidable tandem that resulted in a landslide win during the 2022 presidential race, Mr. Marcos and Vice-President Sara Duterte-Carpio’s “UniTeam” last year broke up after the revelations of Ms. Duterte’s alleged fund misuse and her threats against the First Family. These have been cited as grounds for the impeachment of Ms. Duterte in February, which was declared unconstitutional by the Supreme Court in July.

The Philippines’ surrender of Ms. Duterte’s father to the International Criminal Court for alleged crimes against humanity for his deadly war on drugs in March, further soured the two top government officials’ relationship.

Still, Mr. Juliano warned that economic headwinds remain a major obstacle.

“Inflation and bigger ‘food on table’ issues do not go away [easily],” he said. “This may not automatically translate to the youth and the public — with a whole lot of our people terminally online, it’s likely to go up against the strong disinformation network still servicing the Dutertes.”

To offset this, Mr. Marcos and his allies may lean on traditional political influence centers such as local government networks, churches and community organizations, Mr. Juliano added.

Allowing greater freedoms for civil society groups could also prove strategic, especially as many have grievances directed at the Vice-President and her camp.

“Mr. Marcos has no shortage of issues himself, but the narrative against Ms. Duterte’s corruption spending has clearly stuck. It is in his interest not to be seen as no different,” Mr. Juliano noted.

Manila told to utilize RAA with Japan to boost self-defense posture

Secretary of Foreign Affairs Ma. Theresa P. Lazaro and Japanese Ambassador ENDO Kazuya exchanged the diplomatic notes on the entry into force of the Philippines-Japan Reciprocal Access Agreement — DFA

By Adrian H. Halili, Reporter

MANILA should take advantage of its defense ties with Tokyo to improve its self-reliant capabilities, analysts said, as the Japan-Philippines reciprocal access agreement (RAA) is set to take effect next month.

Chester B. Cabalza, founding president of Manila-based think tank International Development and Security Cooperation said that the RAA will support the Philippines’ attempt at improving its defense posture.

“The RAA will become an equalizer for the Philippines in its bid to succeed in its second attempt for self-reliance defense posture and building a robust industrial defense complex,” Mr. Cabalza said in a Messenger chat.

Last week, the Philippines and Japan exchanged diplomatic notes on the implementation of the RAA on Sept. 11.

The RAA, signed by Manila and Tokyo in July last year, allows for the entry of equipment and troops for military drills and disaster responses on each other’s soil.

It was ratified by the Philippine Senate in December 2024, while Japan’s National Diet ratified it in early June.

“By operationalizing the RAA, these defense plans and strategies will be tested to maintain a free and open Indo-Pacific with Japan and the Philippines creating game-changing norms in the region,” he said.

He added that the pact not only expands strategic relations between the Philippines and Japan militarily but also to diplomatic and economic significance.

“By enforcing the RAA, Japan and the Philippines pledged to train their soldiers in both countries, exchange security information, and boost its defense relations,” Mr. Cabalza said.

It also allows the Philippines to adopt best practices, in support of its self-reliant defense aspiration, Josue Raphael J. Cortez, a diplomacy lecturer at De La Salle-College of St. Benilde said.

“Forging such alliances may help out our troops to learn and share best practices with foreign counterparts, and at the same time allow our very own to gain access to defense assets that are integral for us to attain our goals and promote our national interests,” Mr. Cortez said in a Messenger chat.

He added that once the RAA is effective next month Japanese warships can now support patrolling over the South China Sea amid increasing Chinese presence. 

“Despite us not aiming to employ force to promote our territorial integrity, it is high time that the Philippines further strengthen its presence over what is rightfully ours as Beijing seemingly props up its effort to challenge our sovereignty,” he said.

Manila can also utilize the defense partnership by getting Japan’s support for its modernization efforts, Lucio B. Pitlo III, a research fellow at the Asia-Pacific Pathways to Progress Foundation, said.

“Manila can leverage this RAA to obtain support for its coast guard and military modernization through donations or favorable arms sales or concessional loans to finance construction of new patrol ships,” he said in a Facebook Messenger chat.

Mr. Pitlo said that the Philippines can also encourage more Japanese investors to develop its domestic defense and shipbuilding industry through the expansion of existing shipyards and creating a maintenance and repair hub for Japanese-transferred ships or providing technology.

“This can potentially provide Japan access to strategic Philippine sites where it can deploy assets. The agreement is expected to increase interoperability between the two-armed forces and their readiness to work together, likely alongside other allies and partners, to respond to contingencies,” he added.

The Philippine-Japan access deal is the first of its kind to be signed by Japan in Asia and coincides with increased Chinese assertiveness in the South China Sea, where Beijing’s expansive claims conflict with those of several Southeast Asian nations.

Manila has been seeking to bolster its defense capabilities amid worsening tensions with China in the South China Sea. It has also increased its defense budget, with about $35 billion allotted to modernize its military in the next decade.

Bill seeks mandatory 14th month pay for workers

PHILIPPINE STAR/MIGUEL DE GUZMAN

A MEASURE seeking to mandate a 14th month pay for all private sector workers has been filed in the Senate amid the rising costs of basic goods and services.

“The needs and cost of living of every Filipino worker have drastically changed, thus it is high time that employees in the private sector receive their 14th month pay,” Senator Vicente C. Sotto III said in a statement on Sunday.

Under Senate Bill No. 193, the 14th Month Pay bill, Mr. Sotto proposed that the minimum amount of the 14th month pay should not be less than one-twelfth of the total basic salary earned by the employee within the calendar year. He had filed a similar bill during the 18th Congress.

It covers all non-government rank-and-file employees, workers under Republic Act No. 10361, the Kasambahay Law, and others already entitled to a 13th month pay, provided they have worked for at least one month during the calendar year.

Presidential Decree No. 851 of 1976 already requires employers to pay workers a 13th month pay.

The bill also proposed the release of the 13th month of workers should not be later than June 14, while their 14th month pay should be received not later than Dec. 24 of every year.

The proposed payment schedule is intended to help parents in shouldering educational expenses and the incoming year-end holiday celebrations, Mr. Sotto said.

He noted that the frequency of payment of the benefit should be the subject of agreement between employer and employee or any recognized collective bargaining agent of employees.

Meanwhile, the bill exempts distressed employers, the government, employers already providing a 14th month pay, or its equivalent.

“The bill has exemptions for qualified employers so as not to burden struggling businesses as they are equally important for our economy,” he added. — Adrian H. Halili

DBCC to present economic outlook to Congress as budget talks begin

President Ferdinand R. Marcos, Jr. delivers his third State of the Nation Address before the joint session of the 19th Congress at the Plenary Hall of the House of Representatives, July 22, 2024. — PHILIPPINE STAR /KJ ROSALES

THE Development Budget Coordination Committee (DBCC) will brief lawmakers on the Philippines’ economic outlook today, as Congress begins deliberations on the proposed P6.793-trillion national budget for next year, House Speaker Ferdinand Martin G. Romualdez said on Sunday.

He said Budget Secretary Amenah F. Pangandaman, Finance Secretary Ralph G. Recto, Socioeconomic Planning Secretary Arsenio M. Balisacan and Central Bank Governor Eli M. Remolona, Jr. would present the country’s macroeconomic assumptions for the 2026 budget at the House of Representatives, where they are also expected to respond to congressmen’s queries.

The 2026 National Expenditure Program, submitted to Congress last week by the Budget department, saw double-digit budget hikes for the Education, Health and Transportation departments, with funding slashes to the Public Works department.

Next year’s budget is equivalent to 22% of the country’s gross domestic product and is 7.4% higher than the P6.326-trillion national budget this year.

Mr. Romualdez said the House would adhere to the commitments it made to make the budget process more transparent, like inviting civil society groups to join the hearings and abolishing the “small committee” that has traditionally consolidated proposed amendments to the spending plan after plenary debates.

“If we’re talking about the people’s money, then the people should also know about it and benefit from it,” he said in Filipino. “We will not hide anything from them.”

The lower chamber would also focus on prioritizing allocating funds for food security, infrastructure and education, he added.

Lawmakers would also strengthen their oversight over government agencies once President Ferdinand R. Marcos, Jr. signs the budget bill into law, requiring authorities to submit reports timely and provide real-time updates on major projects.

In a separate statement, House Deputy Minority Leader and Party-list Rep. Antonio L. Tinio said next year’s proposed budget fails to address the “fundamental causes” of poverty and inequality in the country.

“There is no funding or program for national industrialization,” he said in Filipino. “We cannot achieve genuine progress without developing our domestic manufacturing industry. That’s what will create long-term jobs.”

The proposed 18.7% hike in the Education department’s 2026 budget to P928.5 billion falls short of solving the persistent lack of classrooms in government schools, he added, taking note that the government plans on adding only 4,869 new classrooms next year. “Why is the construction target so low?”

Congressmen have nearly two months to scrutinize and approve the budget bill before submitting it to the Senate, with Nueva Ecija Rep. Mikaela Angela B. Suansing, who heads the House appropriations committee, earlier saying the chamber is keen on a thorough review. — Kenneth Christiane L. Basilio

BI modernizes border security

PHILSTAR FILE PHOTO

THE Bureau of Immigration (BI) detailed its ongoing border security modernization efforts during a regional immigration meeting in Brunei last week, highlighting new digital systems aimed at streamlining travel while tightening security.

BI Commissioner Joel Anthony M. Viado led the Philippine delegation to the 28th Association of Southeast Asian Nations (ASEAN) Directors-General of Immigration Departments and Heads of Consular Affairs Divisions of Ministries of Foreign Affairs Meeting, held from Aug. 12 to 14 in Bandar Seri Begawan.

The annual forum brings together Southeast Asian officials to discuss immigration and border management issues.

Among the projects presented were the Advance Passenger Information System, Cruise Visa Waiver program, eServices portal, eTravel system, and electronic gates.

The bureau also reported progress on the Civil Aviation and Immigration Security Services Project, developed to strengthen airport and seaport security.

The BI, in coordination with the Department of Foreign Affairs, also briefed delegates on the Digital Nomad Visa and the planned e-Visa system, measures aimed at attracting foreign travelers and remote workers while maintaining tighter oversight.

Apart from the main gathering, the Philippine delegation took part in the ASEAN forums on immigration intelligence, human smuggling, and checkpoint operations, and held bilateral consultations with immigration counterparts from Australia, China, Japan, and South Korea. — Chloe Mari A. Hufana

DoE bats for waste-to-energy bill

REUTERS

THE Department of Energy (DoE) is hoping for the immediate passage of a measure that will further support the use of waste-to-energy (WTE) technology to help solve flooding problem in the country.

“We pushed for it in the last three years… I think (President Ferdinand R. Marcos) is very supportive of this, so hopefully, the waste-to-energy law will finally be passed,” Energy Secretary Sharon S. Garin told reporters last week.

A waste-to-energy bill is among the priority bills identified by the Legislative-Executive Development Advisory Council in the 19th Congress. The measure was approved on third reading by the House of Representatives but remained pending for second reading in the Senate before it adjourned sine die in June.

WTE is a process that burns waste materials to produce steam and generate electricity.

“One thing about WTE is that it is more of an environmental activity rather than an energy one. What we’re really doing is making the environment cleaner by using waste and transforming it into energy,” Ms. Garin said.

“We’re hoping that with the support of Sen. (Sherwin T. Gatchalian) and Sen. (Pia S. Cayetano), there will be renewed interest in the WTE bill,” she said.

The Bases Conversion and Development Authority earlier said that Indian engineering firm Uttamenergy Ltd. and its local partners Global Heavy Equipment and Construction Corp. and ATD Waste-to-Energy Corp. will invest P4 billion in a WTE facility in New Clark City.

The group is targeting to commence construction within two years and start commercial operations within three years of contract signing. — Sheldeen Joy Talavera

CoA orders audit of Bulacan flood control projects

PHILIPPINE STAR/ MICHAEL VARCAS

THE Commission on Audit (CoA) has ordered a fraud audit of P44 billion worth of flood control projects in Bulacan province, following President Ferdinand R. Marcos, Jr.’s call to investigate alleged anomalies in infrastructure spending.

CoA Chairman Gamaliel A. Cordoba directed state auditors overseeing district engineering offices in Central Luzon to submit all documents necessary for the fraud audit.

“Given the critical issues raised by Mr. Marcos regarding the implementation of these projects, particularly in the Province of Bulacan, a fraud audit is an immediate and unequivocal necessity,” he said in the Aug. 12 memorandum.

Central Luzon received P98 billion in flood control funding between July 2022 and May 2025, the highest among regions and accounting for 18% of the P548-billion national total, amid government efforts to mitigate flooding.

Mr. Marcos last week revealed that 6,021 flood control projects beginning in 2022 lacked basic details specifying the type of infrastructure to be built, flagging about 50 separate projects that shared an identical contract price of P150 million.

In his fourth State of the Nation Address, the President ordered the Department of Public Works and Highways to investigate flood control projects that failed. — Kenneth Christiane L. Basilio

Sotto back on court to rejoin the training camp of Alphas

KAI SOTTO — JAPAN B.LEAGUE

KAI SOTTO’s much-awaited comeback is on the horizon.

Mr. Sotto, at last, returned to non-contact training in Japan on Sunday to turn the next page in his recovery journey from an unfortunate anterior cruciate ligament (ACL) tear on his left knee last January.

He went under the knife for surgery in the same month and now with seven months at bay, Mr. Sotto is back on the court to rejoin the training camp of the Koshigaya Alphas in Saitama before the 2025-2026 Japan B.League opens in October.

The 7-foot-3 Filipino sensation was seen conducting solo shooting and dribbling skills according to his social media posts, signaling an inch closer to a return not only for the Alphas but also for Gilas Pilipinas.

Mr. Sotto, who did not join Gilas’ trip for the 2025 FIBA Asia Cup in Saudi Arabia to continue his rehab in Japan, averaged 13.8 points, 9.6 rebounds, 2.0 steals and 1.3 blocks for Koshigaya, which deeply felt his absence en route to early elimination at 20th place with a 19-41 slate.

But the hole he left for Gilas was bigger after a mammoth campaign in the FIBA Asia Cup Qualifiers, where the Nationals finished second with a 4-2 slate to book an Asia Cup ticket.

Alongside naturalized player Justin Brownlee, Mr. Sotto served as Gilas’ anchor with double-double norms of 15.5 points and 12.5 rebounds laced by 3.8 assists, 0.5 steal and 2.3 blocks for an all-around brilliance in four games.

His best game was a 19-point, 10-rebound, two-block showing as Gilas beat New Zealand, 93-89, at home for the first time ever.

Without Mr. Sotto in the Asia Cup, Gilas struggled early including tough defeats to Chinese Taipei and New Zealand anew before grinding through the quarterfinals, where its campaign ended with an 84-60 loss to two-time reigning champion Australia.

Gilas eventually finished at No. 7, just behind Chinese Taipei, South Korea and the semifinalists Australia, China, Iran and New Zealand, to improve from its ninth-place finish in 2022, the country’s first quarterfinal miss since 2007.

But with Mr. Sotto slowly but surely coming back to fine form, all signs lead to the charges of coach Tim Cone having a full force unit once again in time for the start of the 2027 FIBA World Cup Qualifiers in November and possibly the Southeast Asian Games in December. — John Bryan Ulanday

Sinner ends Atmane’s dream run in Cincinnati Open

TERENCE ATMANE — REUTERS/JASON WHITMAN/NURPHOT

TOP seed and defending champion Jannik Sinner, playing on his 24th birthday, ended French qualifier Terence Atmane’s dream run at the Cincinnati Open with a 7-6(4), 6-2 win on Saturday to reach the final of the US Open tune-up event.

In the other semifinal, Carlos Alcaraz advanced with a 6-4, 6-3 win over German third seed Alexander Zverev, who struggled physically during the match, to set up a rematch of this year’s French Open and Wimbledon finals.

Sinner won a remarkable 91% of his first-serve points, did not face a single break point during the 86-minute match and converted two of five break points in his first career meeting with world number 136 Atmane.

“Very, very tough challenge,” Sinner said on court after being serenaded with “Happy Birthday” by the crowd. “Every time when you play against someone completely new it’s very difficult.”

The Italian world number one had his hands full throughout a tightly contested first set which featured an imperious serving display from both men and not a single break point opportunity for either player.

Sinner, who lost just three points on serve in the opening set, held to love for a third consecutive game to force the tiebreak where Atmane gifted his opponent the opening point with a double fault. From there the Italian never looked back.

The reigning US Open, Australian Open and Wimbledon champion opened the second set with a nine-minute hold of serve, then held to love before finally breaking for a 3-1 lead that gave him the cushion he needed.

Sinner followed that with another hold to love to go 4-1 up and all but end any hope for Atmane, who beat top-10 players Taylor Fritz and Holger Rune en route to his maiden ATP Masters 1000 semifinal.

With Atmane serving to stay in the match, Sinner quickly jumped ahead 0-40 before sealing the win on his third match point when the Frenchman sent a forehand into the net.

The Alcaraz-Zverev encounter was interrupted for 11 minutes early in the first set while paramedics tended to a spectator as the two players stood and watched together from the net.

Shortly after play resumed, Alcaraz saved three consecutive break points to reach 2-2. Three games later the Spaniard sent a brilliant low backhand volley to the open court for a break and 4-3 lead before closing out the frame on his serve.

Alcaraz broke to open the second set but gave it right back in a game during which he gifted four double-faults to Zverev, who was suddenly struggling to move around the court and after the game sat against the back wall grimacing in pain.

Zverev did well to finish the match but was barely going through the motions in the latter stages as Alcaraz had a love hold to go 5-3 up and then sealed the match with a break at love.

“Happy for the final but feeling bad for Sasha,” Alcaraz wrote on the camera lens after his win. “Wish you all the best.” — Reuters

Lionel Messi, Inter Miami add to LA Galaxy’s rough season

LIONEL MESSI — MLSSOCCER.COM

LIONEL MESSI returned from injury on Saturday night and finished with a goal and an assist to propel host Inter Miami to a 3-1 victory over the Los Angeles (LA) Galaxy in Fort Lauderdale, Florida.

Luis Suarez and Jordi Alba also scored to help Inter Miami (13-5-6, 45 points) bounce back following a 4-1 loss last Sunday against host Orlando City SC and secure a much-needed three points in the chase for the Supporter’s Shield.

Messi, who had missed Miami’s previous three matches across all competitions with a thigh injury, did not start but entered the game at the start of the second half.

With the match knotted 1-1 in the 84th minute, Messi took a ball at the top of the box and delivered one of his signature individual efforts to put Miami ahead for good.

Messi juked past the Galaxy’s Lucas Sanabria and dribbled past another defender before firing a shot on target from distance past Galaxy goalkeeper Novak Micovic.

Five minutes later, another rush upfield ended with Messi delivering a beautiful back heel to Suarez, who knocked another ball home to secure the club’s first league win since July 19.

It was Suarez’s first goal in run of play in his past nine matches across all competitions and sixth in league play this season.

A rough campaign following a Major League Soccer (MLS) Cup championship last year continued for the Galaxy (3-16-7, 16 points), who are winless in their past four league matches — although LA will play Pachuca of Mexico in the Leagues Cup quarterfinals on Wednesday.

Despite Messi’s presence, the Galaxy gave themselves a chance to secure at least a point when Joseph Paintsil equalized the match in the 59th minute on his own brilliant individual effort.

Paintsil dribbled past two defenders and ripped a shot that bounced off Inter Miami goalkeeper Oscar Ustari and into the net.

But Messi answered in the clutch with his MLS-leading 19th goal.

Despite outshooting LA 28-5 and 8-3 on shots on goal, Inter Miami didn’t find the back of the net until Alba scored in the 43rd minute off a great through ball by Sergio Busquets.

Suarez hit the post on a strong attempt early in the match, and Miami had a goal by Telasco Segovia disallowed after a review determined he was offside. — Reuters

1...280281282...13,379Page 281 of 13,379
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube