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PHL gross borrowings inch up to P213B in Jan.

BW FILE PHOTO

THE NATIONAL Government’s (NG) gross borrowings inched up in January amid a rise in domestic debt, the Bureau of the Treasury (BTr) said.

Data from the BTr showed that the total gross borrowings in the first month of 2025 rose by 4.92% to P213.14 billion from P203.15 billion a year prior.

Domestic debt accounted for the bulk or 71.41% of total gross borrowings for the month.

In January, gross domestic borrowings stood at P152.2 billion, up 7.56% from P141.51 billion in the same month in 2024.

This consisted of fixed-rate Treasury bonds amounting to P140 billion and Treasury bills worth P12.2 billion.

On the other hand, gross external debt slipped by 1.14% to P60.94 billion in January from P61.65 billion in the same month last year.

Broken down, program loans stood at P56.29 billion and project loans were at P4.65 billion.

“Primarily to finance the budget deficit, as some of the borrowings by the NG may also be frontloaded, just like the $3.29-billion global bond sale amid market volatility brought about by [Donald J.] Trump’s tariffs/protectionist policies,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

In January, the BTr said the Philippines raised $3.29 billion from the sale of the US dollar and euro-denominated bonds.

For 2025, the government set the financing program at P2.545 trillion, where 80% will come from local lenders and 20% will be sourced from foreign sources.

Mr. Ricafort said future NG borrowings supported by fiscal reform measures could help to narrow the budget deficit, while rate cuts from the US Federal Reserve and the Bangko Sentral ng Pilipinas may ease interest payments. — Aubrey Rose A. Inosante

Bytes and Bites: How AI and agriculture can shape a sustainable future

By Mon Abrea

In this modern world of ubiquitous apps and voice-controlled robots, the future and past collide. The avant-garde processes and programs perfected by technology fuel the rise of artificial intelligence (AI), while agriculture — rooted in tradition and necessity — remains a cornerstone of human survival. Despite their differences, both industries offer immense opportunities for growth, innovation, and sustainability.

AI’s contributions to health, transportation, manufacturing, food and farming, education, and public services are undeniable. From diagnosing diseases and optimizing supply chains to personalizing education and automating administrative tasks, AI simplifies life through apps, automation, and chatbots. However, challenges around labor displacement, skill requirements, and environmental impacts must be managed through thoughtful regulation and strategic tax incentives.

Meanwhile, agriculture is experiencing a global shift from animal-based to plant-based production, driven by health, environmental, and ethical considerations. Innovations like plant-based meat alternatives are gaining traction, ensuring a stable food supply while reducing the environmental footprint of traditional livestock farming. Governments worldwide play a critical role in safeguarding food security, especially in times of crisis.

The Philippines: Tapping into AI and Agriculture for Food Security

As an agriculture-dependent nation, the Philippines has significant potential to integrate AI into its agricultural sector. The intersection of AI and agriculture presents a vital opportunity to address pressing challenges, particularly food security.

AI is revolutionizing agriculture globally, offering solutions to enhance farming methods, improve productivity, and bolster food systems. In Africa, for example, AI is transforming traditional farming practices.

  • Nigeria: Farmers use an AI-powered chatbot that offers real-time farm management advice, predicts loan repayment capabilities, forecasts input demands, and optimizes pricing strategies. This tool helps farmers make informed decisions, improving their productivity and profitability.
  • Kenya: The introduction of the world’s first solar-powered device with AI capabilities helps detect and predict crop pests and diseases. This innovation not only provides early warnings but also offers carbon-neutral, affordable solutions to agricultural challenges, promoting sustainable and resilient farming.

In the Philippines, adopting AI in agriculture could similarly enhance productivity and resilience. However, high implementation costs remain a barrier, particularly for small-scale farmers. While the government has ambitious plans to digitize agriculture through technologies like automated irrigation systems, much of this vision has yet to be realized.

Public-Private Partnerships: A Path to Progress

To accelerate AI adoption in agriculture, public-private partnerships are crucial. Combining government initiatives with private sector expertise and funding can generate the resources needed to modernize the sector. Such collaborations could democratize access to advanced technologies, enabling Filipino farmers to increase yields and improve their livelihoods.

Recently, the National Economic and Development Authority (NEDA) allocated P100 million for four agri-tech projects aimed at boosting productivity and ensuring food security. One project leverages AI for impact-based forecasting to support rice-based farming communities — a critical step in optimizing agricultural practices.

The Department of Science and Technology-Advanced Science and Technology Institute (DoST-ASTI) also launched the Gul.AI Project, merging information and communications technology with agriculture. The project uses plant boxes equipped with sensors to collect data on water pH, humidity, temperature, light, and live imaging — providing farmers with valuable insights for crop management.

The government’s Philippine Development Report 2023 underscores its commitment to digital transformation in agriculture. The Republic Act No. 11981 or Tatak Pinoy (Proudly Pinoy) Act led to the launch of two pivotal initiatives:

  1. National AI Strategy Roadmap 2.0 (NAISR): Aims to integrate AI across sectors, including agriculture, to drive economic growth and improve quality of life;
  2. Center for AI Research (CAIR): Focuses on using AI to address industrial challenges, boost innovation, and support sustainable development.

These initiatives are laying the groundwork for the country’s digital future. However, sustained collaboration among agencies like NEDA, DoST, and the Department of Trade and Industry (DTI) is essential to scale these efforts.

The Role of Global Carbon Tax in Driving Sustainability

A Global Carbon Tax could significantly influence sustainability initiatives in agriculture. By imposing taxes on carbon emissions, this mechanism encourages industries — including agriculture — to adopt greener practices. In the context of AI and agriculture:

  • Incentivizing Green Tech: Businesses that implement AI solutions to reduce carbon footprints could benefit from tax incentives, promoting widespread adoption.
  • Funding for Innovation: Revenues from the carbon tax could fund research and development of AI tools tailored for sustainable agriculture.
  • Supporting Farmers: Subsidies or grants could help farmers transition to eco-friendly technologies, bridging the gap between traditional practices and modern innovations.

For the Philippines, a carbon tax framework aligned with global standards could support national climate goals and enhance food security. Through AI integration and a robust tax policy, the country could lead by example in creating a resilient agricultural system that addresses both economic and environmental challenges.

A Sustainable Future Within Reach

AI’s transformative power, coupled with effective tax policies like the Global Carbon Tax, can build a sustainable and resilient agricultural ecosystem. Small, deliberate actions today — such as fostering collaborations, investing in technology, and enacting climate-smart policies — can yield significant rewards for future generations.

With a clear vision, collaborative spirit, and unwavering commitment to sustainability, the Philippines can turn its agricultural potential into a robust foundation for national growth and global leadership in climate action.

A Call to Action: 2025 International Tax and Investment Conference

The conversation around AI, agriculture, and sustainability will continue at the 2025 International Tax and Investment Conference (ITIC) on March 26 at the Manila Marriott. This year’s conference will bring together global thought leaders, policymakers, industry experts, and innovators to promote ESG investing in the Philippines. 

I look forward to sharing insights, learning from thought leaders and game-changers, and inspiring change — one byte and bite at a time. REGISTER HERE: https://itic2025.helixpay.ph/.

 

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SFA Semicon Philippines Corp. to hold Annual Stockholders’ Meeting on April 25 via Zoom

 

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EPIC 2025 opens with $100-M funding pool as prize for the best global startups

The Hong Kong Science and Technology Parks Corp. (HKSTP) has launched the ninth edition of the Elevator Pitch International Competition (EPIC 2025), inviting global startups to compete for funding and growth opportunities in Asia’s innovation ecosystem. Set for Nov. 3 to 7 at Hong Kong’s Kai Tak Cruise Terminal, the event will see finalists deliver 60-second pitches showcasing their breakthrough ideas.

This year’s competition offers an expanded platform for innovation, featuring a targeted investment pool of $100 million — double last year’s amount — alongside a US$240,000 cash prize.

In addition to its original focus on FinTech, EPIC 2025 introduces two new tech tracks: Digital Health Tech and Green Tech. These additions reflect the competition’s broader mission to support solutions addressing some of the world’s most pressing challenges, including healthcare access, climate resilience, and environmental sustainability.

The competition is open to mid- to late-stage startups under 10 years old that are operating in Digital Health, FinTech, or GreenTech. Eligible companies must be registered businesses with plans to expand their research, development, or operations into Hong Kong or the Greater Bay Area (GBA). Applications are open until June 17, 2025 at 11:59 p.m. Hong Kong time (GMT+8).

Following the close of applications, startups will take part in a series of online regional pitch rounds in July, covering North America, Europe, and the Asia-Pacific region. Finalists will be announced in August and flown to Hong Kong for the Grand Finale, which will take place from Nov. 3 to 7 at the Kai Tak Cruise Terminal during EPIC Week.

EPIC Week will feature a series of immersive events leading up to the finale, including business and investment matching, networking opportunities, and curated industry tours that offer participants a deeper look into Hong Kong’s innovation and technology ecosystem.

Finalists will also take part in Tech Spotlight, an exclusive showcase where selected startups present their solutions directly to investors and corporate leaders for real-time feedback and potential partnerships. As part of its regional integration efforts, HKSTP will also host GBA Exploration, a guided program designed to help participants understand and access business opportunities across the Greater Bay Area.

Albert Wong, CEO of HKSTP, said, “Hong Kong is at the forefront of global innovation, where we engage entrepreneurs in addressing the imperative, and EPIC being the origin of many world-first technologies, HKSTP will continue offering haven for startup resources to intersect, and invites like-minded partners to join us on the transformative journey.”

EPIC 2024 drew 603 entries from 47 economies, and with a larger prize pool and more comprehensive programming, this year’s edition aims to reach even greater heights. For more information and to apply, visit epic.hkstp.org.

 

SparkUp is BusinessWorld’s multimedia brand created to inform, inspire, and empower the Philippine startups; micro, small and medium enterprises (MSMEs); and future business leaders. This section will be published every other Monday. For pitches and releases about startups, e-mail to bmbeltran@bworldonline.com (cc: abconoza@bworldonline.com). Materials sent become BW property.

Raising the bar in condotel development with Anchor Land’s market leadership

Located in the country’s top tourism hotspots, Savea condotels benefit from the increasing demand for accommodations and promising potential for value appreciation.

Amidst a rapidly changing market, leisure-oriented developments such as condotels have proven to be one of the most sought-after investments. With the strong resurgence of interest in travel — whether for business, leisure, or medical tourism — the demand for high-quality accommodations continues to grow. This shift has reinforced the need for condotels that go beyond traditional hospitality, combining luxury experiences and sustainable income-generating opportunities.

As a leader in luxury real estate, Anchor Land continues to redefine condotel development through innovation and strategic foresight. Expanding its reach in the sector with its premium brand, Savea Condotel, the industry leader further raises the bar, offering not just five-star hospitality but also future-proof investments.

Situated in Sought-After Destinations

Drawing from its experience in developing and elevating key districts, such as the luxurious Admiral Complex, the developer will soon introduce Savea Condotel in some of the country’s premier locations — from prime waterfront districts such as Central Roxas Boulevard to the enchanting shores of renowned island destinations, such as Boracay, Coron, and San Vicente, Palawan.

These strategic locations consistently show high demand for upscale accommodations while benefiting from continued infrastructure and economic development, driving long-term appreciation for investors.

Every aspect of Savea Condotel is intentionally designed with guests’ and investors’ holistic well-being in mind — fostering personal, physical, and financial wellness.

Curated for Holistic Wellness

As a trailblazer in real estate, Anchor Land continuously adapts to the evolving needs of modern travelers and discerning investors. Recognizing the growing emphasis on health and well-being, the developer has thoughtfully designed Savea Condotel to nurture every aspect of wellness — from the physical to the personal and financial.

Founded on its expertise in building luxury developments, Anchor Land has conceptualized each Savea condotel to feature masterful architectural designs inspired by the natural splendor of each destination, highlighting the most distinct features of the property’s surroundings.

Guests will soon enjoy Savea Condotel’s meticulously crafted spaces that offer the most luxurious wellness experiences.

Beyond its aesthetic flair, these premium condotels offer world-class spaces that foster a sense of balance and rejuvenation. With social nooks to encourage guests to spend time with loved ones, fully-equipped amenities to nourish physical wellness, and convenient access to five-star leisure experiences, each property is crafted to deliver a luxurious, wellness-centered experience for guests and investors.

Signature Brand of Handcrafted Luxury

With hospitality expert Gel Gomez at the helm, Admiral Hospitality Management, Inc. delivers exceptional guest experiences and expert property management.

Following its success with five-star residential and hospitality properties — including the iconic Admiral Hotel — Anchor Land brings its expertise and meticulous attention to detail in their development of Savea Condotel.

Through its newly established Admiral Hospitality Management, Inc. (AHMI) the developer is set to deliver exceptional guest experiences, featuring internationally recognized dining, world-class leisure, and seamless white-glove service in every Savea condotel.

For investors, this translates to a high-value, income-generating asset with unparalleled peace of mind. Backed by a trusted industry leader, Savea offers a meticulously curated collection of upscale condotels designed for sustained long-term returns and premium hospitality experiences.

Optimized for Hands-Free Operations

As the pioneer of rentvestment in the Philippines, Anchor Land continues to lead the industry in developing rental-ready properties designed for seamless operations. With Savea Condotel, the company integrates its deep expertise in property investment with a streamlined, business-driven approach to hospitality management.

Through AHMI, Savea Condotel ensures that every aspect of condotel operations — from marketing and guest services to property maintenance and revenue optimization — is professionally managed. This hands-free model allows investors to generate passive income with confidence while benefiting from the strong capital appreciation of an Anchor Land development.

Blending luxury hospitality and sustainable investments, Savea Condotel offers the opportunity to own a future-proof asset in the most iconic destinations.

The Future of Condotel Investments

By combining strategic locations, wellness-focused designs, and expert property management, Savea sets a new standard for condotel developments — offering not just luxury hospitality, but a future-proof asset in a rapidly evolving market.

As Anchor Land continues to redefine industry standards, the developer’s new venture pushes the boundaries for condotels — offering a future-proof asset and sustainable passive income alongside an elevated experience for next-gen investors and modern travelers alike.

For updates and more information on Savea Condotel and other Anchor Land hospitality developments, visit https://anchorland.com.ph/ or follow the developer on their official social media pages.

 

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.

IdeaSpace appoints new executive director

Alwyn Rosel, a startup ecosystem veteran, is the new executive director of IdeaSpace and QBO Innovation.

IdeaSpace, the startup accelerator and early-stage venture investment arm of the MVP Group of Companies, announced the appointment of Alwyn Rosel, a startup ecosystem veteran, as the new executive director of Idea-Space and QBO Innovation, succeeding Jay Fajardo.

Backed by 13 years of industry experience, Ms. Rosel has been with QBO Innovation for the last four years, serving as the deputy director. She previously held senior positions at startup enablers AIM-Dado Banatao Incubator and UPSCALE Innovation Hub, as well as VXI Global. She also worked at Singapore-based startup and tech media platform e27.

“I am elated to receive the news of my appointment as executive director of IdeaSpace and QBO at a time when we are celebrating National Women’s Month. I would like to thank the management for their trust and confidence in me. I take on this challenge and opportunity to serve the startup community. The cornerstone of my work is to sustain the ecosystem so that we help more startups that have immense potential to contribute to the economy and national development,” Ms. Rosel said.

IdeaSpace and QBO Innovation President Rene ‘Butch’ Meily expressed his confidence in Rosel’s leadership. “Alwyn has been with the QBO and IdeaSpace team for four years. I am confident that she has the dedication and strategic vision to do the job. At the same time, I want to thank Jay Fajardo for his contributions to steering the ship during a crucial time.”

Over the last 13 years, IdeaSpace | QBO has been a cornerstone of the startup landscape, investing over P300 million in resources and supporting more than 35 startups. It has also incubated over 250 startup companies, supported more than 700 organizations, and won 15 awards. Currently, it is conducting 100+ programs and capacity-building activities annually for the benefit of QMMUNITY startups.

Ms. Rosel will succeed Jay Fajardo, who became instrumental in streamlining the organizational structure and sharpening the strategic vision of IdeaSpace and QBO, defining the distinct roles of each entity for stakeholders and the broader startup ecosystem.

Reflecting on his tenure, Mr. Fajardo said, “I’m very happy to have had the opportunity to lead the remarkable team at IdeaSpace and QBO, reinforcing our role as a pivotal driver of the Philippine startup ecosystem. We believe that the organization has regained clarity in its mission, and now deserves dedicated, full-time leadership to take it to even greater heights.”

IdeaSpace | QBO remains committed to fostering innovation and supporting startups through key partnerships. It is actively working on the Regional Startup Enablers for Ecosystem Development (ReSEED) Program with the Department of Science and Technology (DoST), and collaborating on strategic initiatives with Smart-PLDT Innovation Generation and the US Embassy in the Philippines.

 

SparkUp is BusinessWorld’s multimedia brand created to inform, inspire, and empower the Philippine startups; micro, small and medium enterprises (MSMEs); and future business leaders. This section will be published every other Monday. For pitches and releases about startups, e-mail to bmbeltran@bworldonline.com (cc: abconoza@bworldonline.com). Materials sent become BW property.

Villgro Philippines, SEARCA launch accelerator program for agri innovation

Villgro Philippines, a gender-smart incubator supporting impact-driven enterprises, has partnered with the Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA) to jointly run the Sustainable Agriculture and Food Security Enhancement (SAFE) Accelerator.

This virtual accelerator program is designed to support high-potential enterprises developing regenerative, climate-resilient solutions that address food security and sustainable agriculture challenges in Southeast Asia.

With agriculture serving as a backbone for millions across the region, the sector faces escalating threats from climate change, extreme weather events, unsustainable farming practices, and food waste. The SAFE Accelerator aims to cultivate market-driven, climate-resilient solutions that protect biodiversity, sustain farming communities, and improve food security.

“SEARCA, with its deep expertise in advancing climate-smart agriculture and agritech innovations, sees the SAFE Accelerator as a key initiative in fostering sustainable development across the region,” Dr. Glenn Gregorio, SEARCA Center director, said.

He added that the program will support four enterprises in Lao PDR, the Philippines, Timor-Leste, and Vietnam that integrate regenerative, nature-based solutions in their business models.

“The need of the hour is urgent transformative change to ensure food security — regenerative agriculture is at the heart of restoring ecosystems and ensuring our food systems are sustainable. The SAFE Accelerator will equip enterprises driving climate-friendly agribusinesses with coaching, tools, and networks to scale regenerative solutions that sustain both people and the planet,” Priya Thachadi, co-founder and CEO of Villgro Philippines, said.

The four-month virtual accelerator program offers tailored capacity-building, mentorship from industry experts, hands-on workshops, gender-smart training, and self-paced investment readiness training. The program will conclude with an Impact Showcase, where selected enterprises will connect with potential investors and partners. Additionally, eligible enterprises may receive further funding opportunities through Villgro Philippines’ investor network.

“The SAFE Accelerator is an important step for empowering enterprises at the forefront of climate-smart agriculture, enabling them to scale solutions and the kind of innovations needed to reshape agriculture in Southeast Asia — driving both ecological restoration and long-term food security,” Atty. Eric Reynoso, SEARCA program head for Emerging Innovation for Growth, said.

Applications will open in April 2025 for screening and joint evaluation by Villgro Philippines and SEARCA. Interested enterprises or partner organizations in Lao PDR, the Philippines, Timor-Leste, and Vietnam may reach out to the team at climate@villgrophilippines.org.

 

SparkUp is BusinessWorld’s multimedia brand created to inform, inspire, and empower the Philippine startups; micro, small and medium enterprises (MSMEs); and future business leaders. This section will be published every other Monday. For pitches and releases about startups, e-mail to bmbeltran@bworldonline.com (cc: abconoza@bworldonline.com). Materials sent become BW property.

ITSTEP Academy Philippines holds Open House in Davao with tech program for students and professionals

DAVAO CITY — ITSTEP Academy Philippines held an Open House on March 15, at its Davao campus, drawing students, parents, career shifters, and tech enthusiasts interested in the school’s expanding lineup of digital education programs.

The event, held at the Pharma Nutria Building in Bajada, offered attendees an overview of the Academy’s hands-on, industry-oriented courses in-game development, programming, design, cybersecurity, and digital marketing. Faculty and staff were on hand to walk participants through the school’s facilities and course offerings, while prospective enrollees were given the option of same-day admissions.

One of the event’s major highlights was the presentation of the “Game Development Using Roblox Studio” course, which teaches students how to build immersive games using the popular development platform. The session drew interest from younger participants and aspiring developers eager to break into the gaming industry.

Also featured was the “Computer Graphics and Design” program, which focuses on digital illustration, multimedia production, and design fundamentals — key skills for those aiming to enter creative and visual communication fields. For those leaning into programming, the Academy spotlighted its Python Programming course, structured to cater to both beginners and those with coding experience. The program covers foundational knowledge applicable to software development, data science, AI, and automation.

In addition, the Open House introduced other career-oriented courses such as Networks and Cybersecurity, Front-End Development, Software Quality Assurance, and specialized offerings in Internet and Social Media Marketing. These programs reflect the growing demand for tech skills across various industries in the Philippines and beyond.

Parents and younger learners also explored the Junior Computer Academy, ITSTEP’s initiative to teach digital skills to children through courses in animation, basic programming, and AI for kids.

With the event serving as both an orientation and recruitment platform, the Academy highlighted its goal of making tech education more accessible and aligned with global industry needs, particularly in regional hubs like Davao.

 

SparkUp is BusinessWorld’s multimedia brand created to inform, inspire, and empower the Philippine startups; micro, small and medium enterprises (MSMEs); and future business leaders. This section will be published every other Monday. For pitches and releases about startups, e-mail to bmbeltran@bworldonline.com (cc: abconoza@bworldonline.com). Materials sent become BW property.

UST architect presents study on elevated walkway project at World Planning Congress

Architect Henry Felix E. Herrera of the University of Santo Tomas (UST) Graduate School and College of Architecture presents study on urban lifestyle mobility.

Architect Henry Felix E. Herrera of the University of Santo Tomas (UST) Graduate School and College of Architecture presented his research on urban mobility at the 60th World Planning Congress of the International Society of City and Regional Planners (ISOCARP), held in New Clark City from Sept. 10 to 13, 2024.

The event, which coincided with the 1st International Conference for New Cities, brought together planning experts and delegates from Europe, the United States, South Africa, and across Asia.

Mr. Herrera’s presentation, titled “Reinvigorating Urban Lifestyle Mobility: A Convenience-Value Evaluation of the Social Architecture and Planning of the Sampaloc Skywalk,” explored a proposed elevated pedestrian walkway that would link España Boulevard to the LRT- 2 – C.M. Recto Station in Manila. The study examines how the project could improve pedestrian convenience, promote economic activity, and support human well-being by integrating mass transit access with walkable infrastructure.

The proposed skywalk would connect key transportation nodes — including the North-South Commuter Railway, LRT-2 Recto, and LRT-1 Doroteo Jose stations — as well as nearby commercial and institutional buildings. Mr. Herrera’s research emphasized the importance of socially inclusive, environmentally responsive, and economically supportive urban infrastructure.

Findings from surveys, interviews, and focus group discussions suggest that the project has gained broad support among stakeholders. The study is published in Volume 9 of The Antoninus Journal.

 

SparkUp is BusinessWorld’s multimedia brand created to inform, inspire, and empower the Philippine startups; micro, small and medium enterprises (MSMEs); and future business leaders. This section will be published every other Monday. For pitches and releases about startups, e-mail to bmbeltran@bworldonline.com (cc: abconoza@bworldonline.com). Materials sent become BW property.

Meralco in talks with foreign firms for new nuclear energy partnership

FREEPIK

MANILA ELECTRIC CO. (Meralco) is engaging with other foreign firms to explore small modular reactor (SMR) development after a feasibility study with a US company failed to progress, a company official said.

“UltraSafe has been facing some financial challenges, which is why our partnership did not progress,” Ronnie L. Aperocho, Meralco’s executive vice-president and chief operating officer, told reporters on Friday last week.

“We’re looking for partners for SMR. We are talking to many [companies],” he added. 

Mr. Aperocho noted, however, that the company can only move forward with the passage of a nuclear law in the Philippines. 

Under the Philippine nuclear energy roadmap, the country aims to have at least 1,200 megawatts (MW) of nuclear energy capacity by 2032, scaling up to 2,400 MW by 2040 and 4,800 MW by 2050. 

By 2025, the necessary laws on the nuclear legal and regulatory framework are targeted to be in place.

In 2023, Meralco and UltraSafe Nuclear Corp. signed a cooperative agreement to study the potential deployment of one or more micro-modular reactors (MMRs) in the country.

The two companies conducted a feasibility study on MMR development for Meralco’s target commercial deployment, but it was not completed due to UltraSafe’s financial challenges.

Meanwhile, Mr. Aperocho said the company is exploring a partnership with Électricité de France SA (EDF), a multinational electric utility company owned by the French government, to assess the financial viability of developing a nuclear project. 

The Meralco executive was present at the signing of the memorandum of understanding (MoU) between US-based integrated energy solutions firm Eōs Organization, Fullbright Philippines, and Mindanao State University-Iligan Institute of Technology. 

“This MoU is very much aligned with our development strategy at Meralco, so we have been sending scholars already. Better that we have this local training program for our future nuclear engineers or technicians,” Mr. Aperocho said. 

Under Meralco’s Filipino Scholars and Interns on Nuclear Engineering (FISSION) program, the company has sent scholars for nuclear engineering studies to the United States and China and plans to send scholars to Canada and France.

Upon their return to the Philippines, these scholars will be reintegrated into Meralco, taking on roles in its nuclear power generation unit.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera

Cebu Landmasters sets P15-B capex for 2025

CEBULANDMASTERS.COM

LISTED Cebu Landmasters, Inc. (CLI) is allocating approximately P15 billion for capital expenditures (capex) this year as it seeks to expand its portfolio. 

“Around P15 billion,” CLI Chief Operating Officer Jose Franco B. Soberano said during a media briefing in Makati City on Friday last week.

This year’s capex is slightly higher than the P14.5 billion allocated in 2024.

CLI Chief Financial Officer Beauregard Grant L. Cheng said the budget covers ongoing capex for existing projects. 

“This includes all the projects we’re building up, all the projects we have launched in the recent past, potential land acquisitions, as well as projects that we are newly launching,” he said.

The VisMin real estate developer previously announced a P12-billion budget for two initial projects — a horizontal development and a condominium — as part of its planned entry into the Luzon market. 

“The P12 billion was our approximate capex spending for two projects we plan to do in Manila. But that’s over a four-year period of construction. So far, it’s still the same amount,” Mr. Soberano said.

On Friday, CLI raised P5 billion from a sustainability-linked bond issuance to fund the construction of 16,000 affordable housing units by March 2029, contributing to efforts to address the housing backlog in the Visayas and Mindanao. 

The issuance consisted of Series D bonds, totaling P2.86 billion, with an interest rate of 6.6348%, and Series E bonds, worth P2.14 billion, with an interest rate of 6.9157%. 

CLI’s issuance is the country’s second sustainability-linked bond, a financial instrument tied to environmental, social, and governance objectives. The company must build 8,500 affordable housing units by February 2027 and a total of 16,000 units by February 2029. 

Failure to meet the target will result in a 7.5-basis-point increase in interest rates.

“Right now, we have a lot of projects. We launched in General Santos. We have ongoing projects in Iloilo, Bacolod, Ormoc, and Cebu. As we finish all these projects, they’re going to count toward our compliance with these measures. They’re already in progress,” Mr. Cheng said.

The recent bond issuance is the second tranche of CLI’s P15-billion shelf-registered bond program, with the third tranche planned for the third or fourth quarter of this year.

CLI shares were last traded on March 21 at P2.57 per share. — Revin Mikhael D. Ochave

Macan-bracadabra

PHOTO BY KAP MACEDA AGUILA

Porsche’s smallest crossover weaves all-electric magic

IN CASE you weren’t paying attention, the Porsche Macan’s latest iteration (or second generation, first revealed globally in January 2024) has shed its internal combustion engine (ICE) for — in the case of the Macan 4 — two electric motors, one on each axle. A bit of news though before we commence with this piece: We asked Porsche Philippines and learned that the ICE version is still on sale, while supplies last.

That out of the way, a small group of media practitioners went on a southward drive recently aboard four units of the Porsche Macan 4, taking turns as we took a long, twisty, and undulating 83-kilometer route to scenic Escala Tagaytay. Of particular note is the winding spine of the Talisay-Tanauan Road.

The Macans glinted in the morning sunlight, all charged up and waiting for our group to board them in front of the Porsche Greenhills showroom. There was no need for a recharge, we were told. The vehicle’s range would not even be challenged. That figure, in case you’re wondering, is a WLTP-certified 613 kilometers.

I was assigned to a Dolomite Silver unit with fellow motoring scribe Alvin Uy. We noticed how refined the electric Macan drives — helped in no small way by the absence of an ICE. If you do miss the howl of a revving engine, engage the Macan’s Porsche Electric Sport Sound system for a commensurate sporty hum when you get heavy on the “throttle.”

The Macan 4’s aforementioned electric mills — called permanent magnet synchronous motors or PSM — deliver a stout 408hp and 650Nm of torque for such a compact vehicle. This translates into sprightly performance that allows a standstill-to-100kph time of 5.2 seconds. The PSM, said Porsche, consistently produces the same power “every time the throttle is applied.” Meanwhile, the vehicle’s low center of gravity and Porsche Active Suspension Management (PASM) leads to “outstanding driving dynamics, responsive and direct steering feel, and a ride quality offering a wide spectrum between comfort and performance.” What this means is that the Macan remains every inch a Porsche — earning the hallowed badge of the Stuttgart brand owing to its myriad of on-road talents.

It makes short work of winding roads even when (safely) taken at speed. Even on less-than-pristine terrain, the PASM’s shock absorbers deliver outstanding performance with two-valve technology that can be tailored for feel or comfort through rebound and compression level. The Macan also has an air suspension system, allowing the vehicle to be lowered by as much as 30 millimeters below its 185-mm standard ride height or elevated to a maximum of 225mm.

Inside, the Macan banners a highly digital affair through its display and control system, while still retaining some analog elements — more notably the tasty chrono on the dash. While the time is displayed digitally, the second hand is a physical one.

Collectively called the Porsche Driver Experience, the system tucks in a 12.6-inch curved display (instrument cluster), 10.9-inch central display (central infotainment screen), and a 10.9-inch passenger display. The content on the instrument cluster is highly customizable through the steering wheel controls.

The high-resolution central display, on the other hand, is exceptionally legible and doesn’t entail too steep of a learning curve. For the first time on the Macan, the other front seat is afforded an aforementioned passenger display, so he/she can be in charge of stuff like choosing the music or manning the navigation without distracting the driver or getting in his/her periphery.

The new-generation infotainment system is based on Android Automotive OS, and the Macan 4 features Porsche Communication Management (PCM) with the intelligent Voice Pilot function for voice commands and such. A so-called communication light stretches from one door panel to the other — helping the driver visualize, among other things, charging status. “It also works with select driver assistance systems, such as Lane Change Assist and Exit Warning, and can provide location-based warnings. For example, a pulsating signal of light in the door indicates danger to the driver if the door is opened when a cyclist is approaching from behind,” reported Porsche Philippines.

While it is a compact crossover, cabin space is decent — even for rear-seat occupants. I can report that I dozed off most peacefully while Alvin (and journalist William Herrera) were engaged in banter up front. I had A/C controls (and vents) for myself.

With regard to its electric nature, the Macan showcases 800-volt tech which, said Porsche, leads to quick charging times. When plugged into a 270-kW DC charger, the battery also reportedly “sprints” a la Porsche performance — from 10% to 80% in a scant 21 minutes. A more manageable (and battery-friendly) AC charging of 11kW yields an empty-to-full-battery time of about 10 hours. Charging of its 100-kWh lithium ion battery can be done on either side if you’re using alternating current; the DC port is on the left. The port doors are electrically retracted and closed via a touch gesture — or remotely through the PCM.

The high-voltage battery, which is situated low in the vehicle for improved center of gravity, is protected by a “lightweight but tough glass fiber composite underbody guard” versus physical damage. Additionally, “a cooling plate is integrated into the battery housing. Twelve modules, each with 15 prismatic cells connected in series, are mounted to it.”

When we got down from Tagaytay back to the Porsche Greenhills showroom — through monstrous traffic on EDSA (all the while never turning off the A/C) the Macan still had plenty of charge left — 54% after logging more than 200 kilometers — which is more than I can say for us old motoring scribes.

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