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Chelsea Logistics and Infrastructure Holdings Corp. to hold Annual Meeting of Stockholders on May 12 via remote communication

NOTICE OF ANNUAL STOCKHOLDERS’ MEETING

Please take notice that the Annual Meeting of Stockholders of CHELSEA LOGISTICS AND INFRASTRUCTURE HOLDINGS CORP. will be held on Tuesday, May 12, 2026 at 11 A.M., via Remote Communication https://chelsealogistics-ph.zoom.us/j/86143659565?pwd=Gahfaln9zjdUS9Ykvv7fSi8ukGFc0v.1, with the following:

AGENDA

1. Call to Order

2. Certification of Notice and Determination of Quorum

3. Report of the President & CEO for the Year 2025

4. Approval of the Minutes of the Annual Stockholders’ Meeting held on April 28, 2025

5. Ratification and confirmation of all acts and resolutions of the Board and Management executed in the normal course of business covering the period February 16, 2025 until February 15, 2026

6. Election of Members of the Board of Directors

7. Appointment of External Auditor

8. Other Matters

  • Amendment of the Employee Stock Option Plan, as Amended

9. Adjournment

Only stockholders of record as of April 20, 2026 are entitled to notice of, and to vote at, this meeting.

The Annual Stockholders’ Meeting on May 12, 2026 shall be conducted via remote communication.

Stockholders who intend to participate are required to register by sending an email, together with the requirements to ASM@chelsealogistics.ph on or before May 6, 2026, 5PM (Philippine Time). Full list of requirements may be viewed on the following link: https://www.chelsealogistics.ph/annual-stockholders-meeting/. The registration is subject to validation, and successful registrations will receive an electronic invitation via email, along with a complete guide on how to join, participate and vote in the Meeting.

Copies of the Notice of the Meeting, Definitive Information Statement and other related documents may be found on https://www.chelsealogistics.ph/annual-stockholders-meeting/ and through the PSE Edge Portal. Proxy Forms and Special Powers of Attorney or other Authorization forms are available on the Company’s website must be submitted to the Office of the Corporate Secretary, 18th Floor, Udenna Tower, Rizal Drive corner 4th Avenue, Bonifacio Global City, Taguig City by mail or sent by email to ASM@chelsealogistics.ph. Validation of proxies and registration shall commence on April 20, 2026 until 5 p.m. of May 6, 2026. Participation in the meeting as well as voting shall be through remote communication. Detailed Procedure for voting shall be posted on the Company’s website.

Stockholders may also send your queries regarding the conduct of the Meeting to ir@chelseashipping.ph.

Taguig City, 9 April 2026.

 

HENEDINA V. SAN JUAN
Corporate Secretary

 

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Hollywood stars sign open letter opposing Paramount-Warner Bros. deal

NATHAN DEFIESTA-UNSPLASH

OVER 1,000 filmmakers, actors, and industry professionals signed an open letter opposing Warner Bros. Discovery’s proposed $110-billion merger with Paramount Skydance, warning it would reduce competition and deepen consolidation in the US media sector.

Actors including Jane Fonda, Joaquin Phoenix, and Mark Ruffalo were among the signatories to the letter, which said the merger would result in fewer opportunities for creators, pressure on jobs across the production ecosystem, higher costs, and less choice for audiences.

Paramount and Warner Bros. did not immediately respond to requests for comment.

The letter, released on Monday, stated that prior waves of consolidation have already put the industry under pressure, reducing the number of films produced and released and narrowing the range of stories that receive financing and distribution.

The proposed Paramount-Warner Bros. combines Hollywood’s largest studios and content libraries while uniting streaming platforms Paramount+ and HBO Max.

The companies are planning to fold their streaming services into a single platform.

“The letter helps to galvanize opponents of the deal and bring them together under a common cause,” Emarketer senior analyst Ross Benes said. “But it is unlikely that the letter itself contributes to the deal being squashed.”

Regulators in the US and Europe are expected to scrutinize the deal, weighing its impact on consumers and the creative community. California Attorney General Rob Bonta has said the state is probing the transaction and will be “vigorous” in its review. — Reuters

Greenfield Deluxe developing Nava residential project in Muntinlupa

The Nava project — GREENFIELD DEVELOPMENT CORP.

GREENFIELD Development Corp. said its premium residential arm Greenfield Deluxe is developing Nava, a horizontal residential project in Barangay Cupang, Muntinlupa City.

The 5.8-hectare development will have 145 residential lots ranging from 192 to 290 square meters (sq.m.), priced at P129,000 to P147,000 per sq.m., according to information on the project’s website.

Architecture firm Leandro V. Locsin Partners designed the model homes, clubhouse, and master plan.

“Through Nava, we want to create a community where families can reset, recharge, and grow with intention. Wellness belongs in the spaces we come home to every day — in neighborhoods that nurture, in environments that inspire balance, and in communities built to stand the test of time,” said Duane A.X. Santos, president of Greenfield Development Corp., in a press release e-mailed to reporters on Monday.

The project is in the Alabang area of Muntinlupa City and is near Filinvest City. It is accessible via the Sucat, Zapote, and Filinvest exits and is close to commercial centers such as Alabang Town Center and Festival Mall, as well as schools and hospitals, according to the project website.

Amenities include a clubhouse, swimming pools, gym, and function spaces.

Nava will be located beside Hillsborough Alabang, a 20-hectare joint venture involving Fil-Estate Land, Inc., now part of Megaworld subsidiary Global-Estate Resorts, Inc., according to the company’s press release.

Greenfield Development Corp., established in 1961, is a property developer with projects such as Greenfield City in Laguna and Ayala Greenfield Estates, a joint venture with Ayala Land, Inc. — Juliana Chloe A. Gonzales

Moody’s affirms Philippine banks’ ratings

MOODY’S RATINGS has affirmed the long- and short-term ratings of three Philippine banks, it said late on Monday.

The debt watcher affirmed the “Baa2/P-2” long and short-term issuer and deposit ratings of China Banking Corp., (Chinabank), Philippine National Bank (PNB), and Security Bank Corp.

It also kept its “stable” ratings outlooks for Chinabank and PNB and revised that for Security Bank to “stable” from “negative.”

“We revised the outlook on Security Bank’s deposit, issuer and senior unsecured ratings to stable from negative, as the negative pressure on the bank’s capitalization has abated amid much slower credit growth,” the credit rater said.

Moody’s Ratings sees the lender’s capitalization, measured by common equity as a percentage of risk-weighted assets, to improve over the next 12 to 18 months following its purchase of a 25% stake in Home Credit Philippines and amid expectations of moderate loan growth.

Meanwhile, it expects PNB’s capitalization to decrease modestly over the next 12 to 18 months as loan growth exceeds internal capital generation, while Chinabank’s capital will remain stable.

Meanwhile, Moody’s Ratings expects Chinabank and Security Bank’s asset quality to weaken until 2027, due to continued loan seasoning pressures, the residual impact of the flood control probe, and higher cost of living, which could weigh on the repayment capacity of retail borrowers.

For its part, the debt watcher said PNB’s asset quality could face risks in the event of a prolonged Middle East conflict due to its exposure to sectors heavily affected by the crisis.

In terms of profitability, Moody’s Ratings sees PNB’s return on assets remaining broadly stable this year as its margins will be supported by effecting funding cost management and retail loan growth despite an expected modest increase in credit costs.

Security Bank and Chinabank’s own return on assets, meanwhile, are expected to moderate over the next 12 to 18 months on modest loan growth and elevated credit costs.

Chinabank’s net interest margins are expected to expand over the next 12 to 18 months, supported by faster consumer loan growth and project financing, but this may be offset by higher credit costs and weakening asset quality.

On the funding side, Moody’s Ratings said Security Bank’s deposit growth will remain stable supported by the bank’s extensive usage of structured deposits which are more rate sensitive.

The credit watcher noted that both Security Bank and PNB have strong liquidity, with Security Bank having enough to meet its short-term funding gap and PNB having the highest current and savings account ratio at 75% as of 2025 in the industry.

However, it said Chinabank’s modest funding and liquidity constrain its credit profile. — A.M.C. Sy

BSP, SEC discuss possible transfer of online lender oversight

UNSPLASH

THE BANGKO Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) are in talks on regulating online lending platforms, including a possible transfer of oversight to the central bank.

The discussions include how oversight of online lending platforms (OLPs) could be shared or shifted, as the BSP also supervises credit-granting companies under its mandate, BSP General Counsel Roberto L. Figueroa told reporters on the sidelines of an event on Tuesday.

“Both parties are talking to each other and see how we can move forward on this. Because you’ve heard the Commissioner himself saying, they have no problem giving these entities to us. I think as far as the BSP is concerned, we’re not against that move. It’s just that we want to be sure that we’re ready when we take over,” he said.

SEC Commissioner Rogelio V. Quevedo said in a speech on Tuesday that the regulator has submitted a position paper proposing to transfer oversight of OLPs to the BSP, citing challenges in addressing fraud in the sector.

“Financing and lending companies are one of the serious headaches of the SEC. So, we are trying to establish a secure, interoperable, and trustworthy credit ecosystem. I have always maintained that since this is heavy, it should properly belong to the BSP. But the law leaves it with a joint regulatory ecosystem of the SEC and the BSP,” he said.

Mr. Quevedo said the SEC submitted the position paper this year, although the BSP and legislators have indicated a preference for a joint regulatory approach.

“SEC’s expertise is financial regulation like insider trading. We supervise the PSE. Particularly, securities trading. Aside from this, we are regulating companies with P1-million capitalization. We have to dedicate about 80 people for this. But it is not enough. Because there are almost 6,000 [OLPs]. If we lift the moratorium, it will be 10,000.”

Mr. Figueroa said the BSP and the SEC still need to determine whether any transfer of oversight would require legislation or could be implemented through regulatory issuances.

“But we are okay with either route. The BSP is willing because we do recognize the importance of these lending and financing companies and their potential impact on the economy,” he said.

Separately, Mr. Quevedo said the SEC is considering stricter governance rules following complaints from foreign fund managers related to potential exposure to flood control projects.

“Under the regulatory power of the SEC, we are contemplating on a definition of corporations vested with public interest. Because now, the listed companies are being monitored so we will come up with a definition,” he said.

“We will require them to have independent directors of corporations vested with public interest. Because now, it’s just a requirement of independent directors. But now 20% of the board must be independent directors of listed companies. And that is probably one of the reasons why they are being delisted. So, we are proposing that corporations vested with public interest must also have independent directors. Maybe at least 10% because in listed companies, 20%. But there must be at least one independent director of corporations vested with public interest.” — Aaron Michael C. Sy

Netong’s eyes partnerships to cushion rising costs

NETONG’S FB PAGE

ILOILO CITY — Netong’s Original Special La Paz Batchoy is seeking partnerships with hotels and private companies to sustain operations as rising ingredient costs squeeze margins, its owner said.

“It’s expensive now, and you cannot just have a price increase,” third-generation owner John Patrick Guillergan told reporters.

Mr. Guillergan said the Iloilo-based brand, known for its warm noodle soups, is exploring tie-ups with hotels and corporate clients, while continuing to work closely with the local government.

He said the strategy could help stabilize demand and offset higher input costs without passing the full burden to customers.

Founded in 1948 by his grandfather Leonito, Netong’s has built its reputation on affordable servings of La Paz batchoy using ingredients bought from local public markets. The brand said its supply setup allows it to maintain operations even during supply disruptions.

“The only advantage is that when we run out of soup, we have a backup because our ingredients are here in the market; that’s our traditional practice,” Mr. Guillergan said, adding that the dish’s broth remains its key differentiator.

Each bowl, priced from P115 to P155, includes egg noodles, pork, beef and innards, topped with pork cracklings, spring onions and toasted garlic. Customers may also opt for thin wheat or glass noodles and add bone marrow.

Despite rising costs, the company has yet to decide on price increases.

“We are actually talking about the price because you also need to consider that the salary of our customers has yet to increase,” Mr. Guillergan said. “We also cannot reduce the serving and quality because it might trigger bashers on social media.”

Data from the local statistics office showed the average retail price of fresh beef rose to P376.34 per kilo in the second phase of March, slightly higher than earlier periods. The Department of Agriculture has also warned that pork prices could climb sharply if geopolitical tensions from the Iran war worsen.

The company said it has no immediate plans to expand outside Iloilo, citing high capital requirements and uncertain market conditions.

“It’s hard to open a business right now because there are a lot of expenses,” Mr. Guillergan said. “You have to shell out a lot of money.”

Instead, Netong’s plans to open another kiosk within Iloilo to reach more customers, while continuing to join trade fairs such as World Food Bazaar and Arte Fino in Manila.

The company previously operated five outlets but closed three during the coronavirus pandemic. It maintains branches including one at the redeveloped La Paz Public Market. — Almira Louise S. Martinez

Private consent in the adoption of a surrendered child is insufficient

STOCK PHOTO | Image by Jcomp from Freepik

State certification remains mandatory

The State has made the adoption process more expeditious. However, the procedures and requirements provided by law must still be complied with, as the best interests and welfare of the child are at stake.

Republic Act (RA) No. 9523, which amended RA 8552, RA 8043, and Presidential Decree No. 603, authorizes the Department of Social Welfare and Development (DSWD) to declare a child legally available for adoption through administrative proceedings, upon issuance of the corresponding Certification. The DSWD can make this declaration if: a.) the fact of abandonment or neglect of the child is proven through the submission of requisite documents; or, b.) the child has been voluntarily committed by his or her parent or legal guardian, who knowingly and willingly surrender parental authority to the DSWD, or to any duly accredited child-placement or child-caring agency or institution.

RA 11642, otherwise known as the Domestic Administrative Adoption and Alternative Child Care Act, repealed RA 9523 and streamlined domestic adoption, making it more accessible by converting it from a judicial process into an administrative one under the National Authority for Child Care (NACC), which is now the agency that issues the Certification.

In other words, even if a biological parent or legal guardian of a surrendered child expressly and voluntarily relinquishes parental authority and consents to the adoption, such consent cannot supplant the requirement of securing the State’s approval through the Certification declaring the child legally available for adoption.

This was emphasized by the Supreme Court in the case of Robiso v. Ibay (G.R. No. 241893, Nov. 3, 2025). In this case, the adopter filed a Petition for Adoption of the minor child whose biological mother freely and knowingly relinquished her parental authority to the adopter. No familial relationship existed between the adopter and the child sought to be adopted. To prove her voluntary surrender, the biological mother executed an Affidavit of Consent to Adoption and Grant of Custody of Child.

The Regional Trial Court (RTC) dismissed the petition for failure to attach a DSWD Certification declaring the surrendered child legally available for adoption, as mandated by RA 9523. The adopter fervently contended that the Certification was unnecessary since the child was not: a.) abandoned; b.) neglected; or, c.) voluntarily committed to the DSWD, or to a duly accredited child-placement or child-caring agency or institution.

The Supreme Court affirmed the ruling of the RTC. The doctrinal clarification of the Supreme Court, speaking through Associate Justice Japar B. Dimaampao, centers on its treatment of a surrendered child. While RA 9523 extends its application to surrendered children, the law itself does not explicitly contemplate the same as a stand-alone term. In fact, the Supreme Court in Robiso acknowledged that it is the Implementing Rules and Regulations of RA 9523 that “defines a surrendered child alongside a voluntarily committed child.”

The Supreme Court clarified that a child is deemed voluntarily committed not only when surrendered to the DSWD or a child-placement agency, but also to an individual. It was recognized by the Supreme Court that “when a parent — often a mother acting under difficult circumstances, as in this case — entrusts her child to another’s care, the child is legally considered voluntarily committed.” In this instance, despite the Affidavit of Consent to Adoption and Grant of Custody of Child evidencing the consent of the biological mother, Robiso affirms that a DSWD Certification remains indispensable.

In fine, Robiso is a discernible manifestation of the Supreme Court placing utmost consideration on the best interests and material welfare of a child, balanced against its caution in addressing the dangers surrounding adoption. As profoundly stated by the Supreme Court, “justice demands equal vigilance in protecting children, who are often the most vulnerable and may become susceptible to exploitation if legal safeguards are disregarded.”

Demonstrably, the Certification requirement in adoption laws cannot be superseded by the consent of the biological parent or legal guardian. Private arrangements between the biological parent or legal guardian of the surrendered child and the potential adopter cannot override the final administrative declaration of the State in adoption proceedings. Formal State acquiescence remains decisive.

All told, while Philippine adoption laws may appear rigid and unnecessarily exhaustive, especially when there is genuine urgency to adopt, such protections are deliberately uncompromising. The ultimate objective is, and shall be, without exception, the assured long-term protection of a child’s best interests and welfare.

The views and opinions expressed in this article are those of the author. This article is for general informational and educational purposes only and not offered as and does not constitute legal advice or legal opinion.

 

Kimberly Belle Diet is an associate of the Litigation and Dispute Resolution department of the Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALAW).

(632) 8830-8000

kdiet@accralaw.com

Britney Spears enters rehab after arrest on suspicion of driving under the influence

Britney Spears — FACEBOOK.COM/BRITNEYSPEARS

LOS ANGELES — Britney Spears voluntarily checked into rehab on Sunday following her March arrest on suspicion of driving under the influence, a representative for Ms. Spears confirmed to Reuters on Monday.

The California Highway Patrol said the pop singer was arrested in Ventura County after officers stopped her black BMW following a report that it had been traveling erratically at high speed.

The highway patrol said in a statement that Spears, the sole occupant of the vehicle, “showed signs of impairment” due to what officers suspected was the influence of a combination of alcohol and drugs. It added she underwent a series of field sobriety tests.

Ms. Spears was booked into the Ventura County Main Jail and is due for a court appearance on May 4.

Ms. Spears, who became one of the biggest pop stars in the world in the late 1990s while still a teenager, has struggled for years with intense media speculation into her personal life, use of drink and drugs, and questions over her mental state.

In 2007, she was charged with one count of a hit-and-run causing property damage and one count of driving without a valid license, both misdemeanors. The first charge was later dropped and the other dismissed.

After she had a public breakdown that year, she was hospitalized for undisclosed mental health issues and her father granted a conservatorship.

Ms. Spears regained control of her personal life and her money in 2021 when a judge ended the conservatorship that had become a cause celebre for fans and that had governed her personal life and $60-million estate since 2008. — Reuters

Financial system’s resources up 9.16% at end-February

The main office of the Bangko Sentral ng Pilipinas in Manila. — BW FILE PHOTO

THE TOTAL RESOURCES of the Philippine financial system grew by 9.16% as of February, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed.

Resources held by banks and nonbank financial institutions increased to P36.784 trillion at end-February from P33.696 trillion a year prior. This was also up by 1.25% from the P36.33 trillion at end-January.

These include funds and assets such as deposits, capital, and bonds or debt securities.

Broken down, resources held by banks increased by 9.98% year on year to P30.56 trillion at end-February from P27.78 trillion previously.

Universal and commercial banks’ resources went up by 9.17% to P28.344 trillion at end-February from P25.963 trillion last year.

Thrift banks’ resources surged by 26.25% year on year to P1.469 trillion from P1.16 trillion, while those held by rural and cooperative banks climbed by 7.19% to P565 billion from P527.1 billion.

Digital banks’ resources also jumped by 41.07% to P179.3 billion from P127.1 billion, BSP data showed.

On the other hand, resources of nonbank financial institutions rose by 5.25% to P6.226 billion as of September 2025 from P5.916 billion at end-February 2025.

Nonbanks include investment houses, finance companies, security dealers, pawnshops, and lending companies.

Institutions such as nonstock savings and loan associations, credit card companies, private insurance firms, the Social Security System, and the Government Service Insurance System are also considered nonbank financial firms.

The expansion in the Philippines’ financial resources reflected continued growth in bank lending, deposit growth, and asset accumulation as domestic demand remained resilient, Philippine Institute for Development Studies Senior Research Fellow John Paolo R. Rivera said in a Viber message.

However, this growth may moderate for the rest of the year as faster inflation, elevated borrowing costs, and geopolitical uncertainty could dampen credit demand and risk appetite, he said.

“The outlook is one of continued but more measured growth, with the financial system remaining broadly stable.” — A.M.C. Sy

How PSEi member stocks performed — April 14, 2026

Here’s a quick glance at how PSEi stocks fared on Tuesday, April 14, 2026.

Philippines lands at 17th in global opportunity ranking

The Philippines ranked 17th out of 188* countries and territories in the 2026 edition of the CS Global Partners’ Opportunity Index. By measuring a country’s indicators of economic potential, the index evaluates its opportunity level as a destination for investment, business, relocation, and long‑term wealth building. On a scale of 0-100, the country scored 68.3 — the fourth best in the Southeast Asian region.

Sanofi, PhilCare ink partnership to promote preventive workplace health

PhilCare President and CEO Jaeger L. Tanco. — PHILCARE

Biopharma company Sanofi Philippines and PhilCare, a health maintenance organization (HMO), signed a partnership on Tuesday to promote workplace vaccination and a proactive health approach for the local workforce.

The agreement is aligned with the upcoming celebration of World Day for Safety and Health at Work on April 28 and World Immunization Week from April 24 to 30.

The partnership underscores the importance of taking preventive measures for safer and healthier working environments in workplaces and communities.

With the Philippine labor force participation rate at 63.8%, or people aged 15 years and above, translating to 52.09 million as of February, according to the Philippine Statistics Authority.

Diseases that could have been prevented by vaccines, such as influenza, are a common factor that disrupt workforce productivity and economic growth, the partnership statement said.

“As the country’s workforce continues to grow, maintaining employee health is important to sustaining productivity and economic growth,” Vanessa Yabut-Gomez, head of vaccines for Sanofi Philippines said in a statement.

“Immunization is one of the most viable ways to support the health of Filipino employees.”

The flu season in the Philippines typically peaks from June to November. Despite this seasonality, experts note that year-round protection remains important for working adults.

Unvaccinated adults, especially those managing underlying conditions, face severe impacts from the flu.

The World Health Organization emphasizes the critical role of vaccines in controlling disease outbreaks.

However, adult immunization remains overlooked due to significant barriers, including high costs, limited access to vaccines, and a general lack of awareness.

Through the partnership between Sanofi Philippines and PhilCare, these barriers are being addressed by expanding access for corporate members and strengthening vaccination awareness.

For PhilCare, the partnership reinforces the company’s commitment to delivering comprehensive healthcare services to Filipinos across the country.

“By integrating critical vaccination options, such as the flu shot, into our broad range of healthcare offerings, we aim to address the gaps in adult preventive care,” Jaeger L. Tanco, president and chief executive officer (CEO) of PhilCare said in a statement. — Edg Adrian A. Eva

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