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Big banks’ asset growth slows in 4th quarter 2024

PHILSTAR FILE PHOTO

THE AGGREGATE ASSETS of the Philippines’ largest banks grew by single digits in the fourth quarter of 2024, reflecting slowing economic growth and still-elevated interest rates.

BusinessWorld’s latest edition of the quarterly banking report showed the combined assets of 44 universal and commercial banks (U/KBs) rose by 8.89% year on year to P26.64 trillion in the October-to-December period.

However, this pace was slower than the 11.17% growth in assets to P25.98 trillion in the third quarter.

Asset and loan growth of Philippines’ biggest banks in Q4

Year on year, asset growth improved from 8.71% in the fourth quarter of 2023. 

Meanwhile, aggregate loans of the country’s biggest lenders expanded by 12.55% year on year to P13.94 trillion in the October-December period, slower than the 15.07% recorded a quarter earlier.

Lending growth was the weakest since the 11.23% seen in the fourth quarter of 2023.

The modest growth in assets and loans reflected slowing economic growth in the fourth quarter of 2024.

The Philippine economy grew by 5.2% in the October-to-December period, slowing from 5.5% in the third quarter. This brought the full-year gross domestic product (GDP) growth to 5.6%, below the government’s 6%-6.5% target.

The Bangko Sentral ng Pilipinas (BSP) began its easing cycle in August last year, reducing borrowing costs by a total of 75 basis points (bps) to bring the benchmark rate to 5.75% by end-2024.

During the period, the nonperforming loan (NPL) ratio, or the bad loans as a portion of the total loan portfolio, improved to 3.11%, lower than the 3.29% posted in the third quarter and the 3.39% recorded in the same three months in 2023.

Loans are classified as nonperforming if the principal and/or interest are unpaid for more than 90 days from the contractual due date. These may pose risk to the lenders’ asset quality as borrowers are likely to default on these debts.

The net NPL ratio likewise fell to 1.42% in the fourth quarter from 1.63% in the previous quarter and 1.48% in the fourth quarter of 2023.

On the other hand, banks’ profitability — as measured by the median return on equity (RoE) — inched up to 8.98% from 8.05% a quarter earlier. However, it slipped from 9.29% in the October-to-December period in 2023.

The RoE ratio measures the amount that shareholders make on every peso they invest in a firm. It also measures how well a firm makes use of the money from shareholders to generate income.

Additionally, these big banks’ median capital adequacy ratio (CAR), which reflects the lender’s ability to absorb losses from risk-weighted assets, reached 20.73% during the period. This was higher than 20.17% in the same period in the previous year and 20.52% a quarter earlier.

The ratio remained well above the regulatory minimum of 10% set by the BSP as well as the international minimum standard of 8% under the Basel III framework.

The leverage ratio, which gauges the institution’s ability to absorb shocks by measuring the bank’s capital relative to total exposure, reached a median of 11.01% during the period, compared with 10.91% in the same period in 2023 and 11.53% of the previous quarter.

The current figure surpassed the central bank’s 5% guideline as well as the international standard of 3%.

Meanwhile, the net interest margin of these big banks increased to 4.13% from 3.91% in the previous quarter and 3.86% the previous year.

This is an indicator of banks’ investing efficiency by dividing annualized net interest income by average earning assets.

In the October-to-December period, the median return on assets (RoA), which measures the profit generated per peso of an asset, rose to 1.55% from 1.46% a year earlier. However, it eased to 1.69% from the third quarter.

During the fourth quarter, BDO Unibank, Inc. (BDO) remained the largest bank in terms of assets with P4.8 trillion.

Metropolitan Bank & Trust Co. (Metrobank) ranked second with P3.54 trillion, followed by state-owned Land Bank of the Philippines (LANDBANK) with P3.45 trillion.

The Sy-led BDO was also the top bank in terms of loans issued with P3.21 trillion, followed by Bank of the Philippine Islands (BPI) with P2.27 trillion and Metrobank with P1.82 trillion.

Among banks with assets of at least P100 billion, Security Bank Corp. posted the fastest year-on-year asset growth of 43.27%, followed by The Hongkong & Shanghai Banking Corp. Ltd. (HSBC, 17.73%), and Citibank NA (16.02%).

In terms of loan growth, HSBC was the most aggressive lender during the period, with loan growth at 29.98%, followed by Asia United Bank Corp. (25.65%) and Security Bank Corp. (25.37%).

BDO had the biggest amount of deposits with P3.79 trillion, followed by LANDBANK with P3.02 trillion and BPI with P2.62 trillion.

BusinessWorld Research has been tracking the financial performance of the country’s big banks quarterly since the late 1980s using banks’ published statements.

The full version of BusinessWorld’s quarterly banking report will soon be available for download on https://bworld-x.com/product-category/bw-in-depth-banking-report/. — Lourdes O. Pilar

Filipino delegation brings home glory at Thailand innovation expo

The Filipino delegation at the Thailand Inventors’ Day 2025, alongside Filipino Inventors Society, Inc. President Ronald Pagsanghan and Manila Young Inventors President Sonny Valenzuela

In a display of innovation and ingenuity, Filipino inventors secured a remarkable haul at Thailand Inventors’ Day 2025, taking six gold, four silver, and three bronze medals back home.

The prestigious event, held from Feb. 2 to 6 at the Bangkok International Trade & Exhibition Centre (BITEC), showcased over 1,000 breakthrough innovations from around the world. Leading the Philippine delegation were Filipino Inventors Society, Inc. (FISI) President Ronald Pagsanghan and Manila Young Inventors President Sonny Valenzuela, who will personally present the accolades to President Ferdinand “Bongbong” R. Marcos, Jr. at a later date in recognition of the unparalleled ingenuity of Filipino inventors.

Among the standout achievements was a gold medal-winning medical breakthrough for the non-surgical treatment for skin cancer or basal cell carcinoma, the most common type of skin cancer. From Inventor Rommel B. dela Cruz, who also received a Special Award from the National Research Council of Thailand, the innovation is set to redefine cancer treatment, offering new hope for millions of patients worldwide.

“This victory is a testament to the world-class talent of Filipino inventors,” Mr. Pagsanghan said. “Each medal we bring home represents our dedication to pushing the boundaries of science and technology. The Philippines is not just keeping up — we are leading in global innovation.”

Filipino creativity takes the global stage

Echoing the sentiment, Mr. Valenzuela emphasized that these victories underscore the resilience and creativity of Filipino inventors. “We are proving that the Philippines is a powerhouse of innovation. Our inventors are tackling real-world challenges and creating solutions that can change lives, not just for Filipinos but for people around the world.”

Mr. Marcos is expected to honor the award-winning inventors, commending them for their contributions to national development and reinforcing his administration’s commitment to investing in research and technology.

The Thailand Inventors’ Fair is one of the most prestigious international platforms for scientific and technological advancements, showcasing cutting-edge developments in medicine, engineering, sustainable technology, and more. The Philippines’ impressive medal haul highlights the country’s growing influence in global innovation.

With this monumental success, Filipino inventors continue to inspire a new generation of young minds, proving that the Philippines is a global leader in creativity, scientific discovery, and technological progress.

 

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.

Benilde offers revamped Game Design degree program

GDD students try the new Alienware machines in their Virtual Reality elective.

Aspiring programmers, digital artists, and designers can transform their creativity into career opportunities through the newly-retooled Game Design and Development (GDD) program at De La Salle-College of Saint Benilde (DLS-CSB).

Offered under the School of Management and Information Technology (SMIT), the pioneering program combines technical training, artistic development, and entrepreneurial skills to prepare students for roles in the fast-growing game development industry.

The curriculum covers game design and programming for mobile, desktop, and console platforms, alongside studio management and collaborative workflows. Students also gain hands-on experience with emerging technologies such as Virtual Reality (VR), Augmented Reality (AR), and Extended Reality (XR), ensuring they are equipped for the evolving digital landscape.

“GDD has an industry-responsive curriculum, ensuring alignment with the evolving needs of the game development sector. Through direct partnerships with organizations such as the Game Developers Association of the Philippines (GDAP) and the International Game Developers Association (IGDA), it remains at the forefront of global standards and industry trends,” GDD Chairperson Norman Lee, MIT, said.

Game Programming equips students with the technical expertise to conceptualize, design, and develop games. Using industry-standard tools like Unity, Unreal Engine (4.18 and above), Visual Studio, and Visual Code, they master programming game mechanics, physics simulations, AI algorithms, and scalable backend systems.

The curriculum also covers cross-platform development and immersive technologies, including VR and AR.

Game Art focuses on the visual and aesthetic aspects and empowers them to create 2D and 3D assets, characters and environments, and animations. They utilize industry-standard tools like Blender, Autodesk Maya 2023, ZBrush, Substance Painter, and Substance Designer for polished and immersive graphics.

Learners work together on team-based projects using high-performance Dell Alienware and Acer Predator machines, alongside VR equipment such as HTC Vive and Meta Quest headsets.

GDD thrives through active partnerships with key industry players and ensures students receive practical and relevant training. Collaborations with GDAP and CG Arts Japan support the development of micro-credentials and certifications, as well as workshops, seminars, and on-the-job training.

GDD also partners with Secret 6, Inc. and offers specialization in VFX through hands-on experiences, workshops, and seminars.

Aligned with the Philippines Skills Framework (PSF) for Game Development, this 10-trimester program trains graduates to excel in a wide range of roles. They may begin as Junior Technical Artist, Junior Programmer, Junior Concept Artist, UI/UX Designer, Level Designer, Systems Designer, and Narrative Designer in AAA and indie game development.

With over 40 award-winning capstone projects and more than 60 nominations and finalists in the annual GDAP Game On Competition, GDD holds the distinction of being the most decorated in the Game of the Year Awardee (School Category), which further highlights its commitment to excellence and industry readiness.

 

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.

Sari-sari stores drive women’s empowerment in the Philippines — study

A Packworks sari-preneur proudly poses at her sari-sari store.

Sari-sari stores, locally known as neighborhood mom-and-pop shops, are not just a primary source of daily essentials for around 94% of Filipinos but a vital source of empowerment among women entrepreneurs.

This is the finding of a study published by the Philippine Institute for Development Studies (PIDS) in collaboration with tech start-up Packworks. The study, titled “Gender, Microentrepreneurship, Human Flourishing: Exploring the Experiences of Women Sari-sari Store Owners toward Inclusive Growth,” found that women store owners experience significant psychological and social empowerment despite the many challenges they face.

According to the study, women owners take pride in being considered “entrepreneurs” and “business owners,” providing them a sense of independence, confidence, and fulfillment from managing their micro-retail businesses. Survey participants also expressed that managing and operating sari-sari stores give them a deeper sense of purpose and meaning in their lives.

“I can buy things for myself, my kid, and my family now… I am not just a housewife anymore,” one participant in the study said. “Because of my store, I am now busy with other things apart from taking care of my family. I feel more fulfilled.”

The study also demonstrates that women store owners achieve social empowerment by earning higher social status. This is notably observed in their customers addressing them with terms of respect like ‘ma’am’ or ‘boss,’ a cultural marker of their elevated position within the community.

Furthermore, women store owners who exhibited characteristics of a “transformational leader” or qualities such as strong empathy, care, and collaboration with the community reported high levels of well-being, empowerment, optimism, and resilience. By becoming more independent and confident, women store owners were able to take on important roles within their communities.

The psychological empowerment and individual well-being the women owners experienced were evidenced by their positive results on happiness and life satisfaction, mental and physical health, meaning and purpose, character and virtue, and sense of agency and autonomy.

“This research underscores the resilience and transformative power of women sari-preneurs in the Philippines. They are the heart of their communities, and by supporting them, we are strengthening the social fabric of the nation,” said Packworks CEO Bing Tan. “At Packworks, we are driven by our mission to provide advanced business tools and services that allow these women to not only succeed in business but also to become leaders and change-makers within their communities,” he added.

The study surveyed hundreds of female sari-sari store owners in Metro Manila, Central Luzon, and Region IV-A (CALABARZON) between May and June 2024. The majority of those surveyed (90%) are married with dependents, while smaller percentages are single (7%), and the remaining as separated or widowed (3%). Additionally, 78% of the respondents contribute to their household income, 16% serve as breadwinners, and 6% are single mothers.

“This reinforces our previous findings, which revealed that 75% of sari-sari stores are owned by women. Through our business intelligence tool Sari IQ, we are able to highlight that Filipinas hold significant control over the local economy through these micro-retail enterprises,” Packworks Lead Data Scientist Joanne Diaz said.

A Filipino startup that provides a business-to-business (B2B) open platform to sari-sari stores, Packworks empowers its network of over 300,000 sari-sari stores nationwide by digitizing their daily operations with tools for pricing, inventory management, and sales tracking while also providing access to working capital, product promotions, and rewards.

 

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.

Mapúa MCL ramps up internationalization efforts at IZN event

Mapúa MCL unveils the IZN Highlights Marker and Manifesto.

Mapúa Malayan Colleges Laguna (Mapúa MCL) reaffirmed its commitment to global collaboration and transformative education as it celebrated its international milestones at the recent Mapúa MCL Internationalization (IZN) Highlights event.

Held as part of the institution’s 19th founding anniversary with the theme “Building the Future,” the event recognized the invaluable contributions of Mapúa MCL’s industry partners who played a crucial role in its success.

Pioneering internationalization efforts among higher education institutions in South Luzon, the IZN Highlights event brought together representatives from the academe, local government, and key stakeholders to honor partnerships that have strengthened industry-academe linkages, collaborative research, and social responsibility initiatives.

“In an interconnected world, internationalization is no longer an option. It’s already a necessity to prepare our students to thrive in a competitive global landscape. It is through internationalization that we open doors to boundless opportunities, foster global collaboration, and provide our students and faculty with world-class academic and professional experiences. Our commitment to internationalization is demonstrated through prestigious accreditations and recognitions that we earned,” Dr. Dodjie S. Maestrecampo, president and chief executive officer of Mapúa MCL, said.

A major highlight of the event was the recognition of outstanding strategic partners whose collaborations have significantly contributed to Mapúa MCL’s achievements. The Outstanding Strategic Partner for Industry-Academe Linkage Award honored partners like Accenture, Inc., Amkor Technology Philippines, and DENSO Philippines Corp., for providing students with essential hands-on training, practical experience, and career development opportunities, enhancing their employability and professional readiness.

Mapúa MCL also recognized its partners in the academe that have significantly contributed to its research endeavors with the Outstanding Strategic Partner for Research Award and the Outstanding Strategic Partner for Social Responsibility Award for partners whose efforts in social initiatives have addressed critical community needs, fostered sustainable development and amplified the institution’s positive impact on society such as AY Foundation, Maibarara Geothermal, Inc., and PetroEnergy Resources Corp.

 

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.

MPTC eyes P35B for projects this year

PHILIPPINE STAR/RYAN BALDEMOR

METRO PACIFIC TOLLWAYS Corp. (MPTC), the tollways unit of Metro Pacific Investments Corp. (MPIC), is allocating P35 billion for its capital expenditure (capex) budget this year, primarily for the projects of its subsidiaries, a company official said. 

“P35 billion, most of that is for the South and for NLEX Corp. Maybe one-third is for NLEX, then for (MPT) South, then another one-third for other projects,” NLEX Corp. Officer-in-Charge and Chief Finance Officer Maria Theresa O. Wells told reporters last week. 

In 2024, MPIC allocated P140 billion for its capex budget, with P28 billion set aside for MPTC. 

Expressway operator MPT South Management Corp. previously announced that it would allocate P14 billion for its 2025 capex budget to fund key projects slated for completion next year. 

Last week, MPTC unit NLEX Corp. began construction of the P2.2-billion NLEX-C5 Northlink Section 1A.

Section 1A of the NLEX-C5 Northlink Segment 8.2 covers the first two kilometers of the entire 11.3-kilometer project. This section is expected to be completed by the first quarter of 2026.

For 2025, MPT South expects an average daily vehicle count of 344,514, marking a 32.6% increase from the current 259,815. 

The completion of MPT South’s expressway network will bring its total road network to 67 kilometers by the end of 2025 while enhancing connectivity between industrial and commercial hubs and shortening travel time for motorists, the company said. 

The Governor’s Drive Interchange of the Cavite-Laguna Expressway (CALAX) is among the projects scheduled for completion in 2025. 

MPTC also expects a slight improvement in overall traffic volume, driven by the post-pandemic recovery. 

MPIC is one of the three key Philippine units of Hong Kong-based First Pacific Co. Ltd., alongside Philex Mining Corp. and PLDT Inc. 

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., holds a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose

Basic Energy eyes 1-gigawatt RE portfolio by 2030

OSCAR L. DE VENECIA, JR. — BASICENERGY.PH

By Sheldeen Joy Talavera, Reporter

BASIC ENERGY CORPORATION, a listed company focusing on renewable energy (RE) and alternative fuels, aims to develop 500 megawatts (MW) of wind and 500 MW of solar energy projects by 2030, according to its chief executive officer (CEO).

“In the next five years, [we aim] to build a portfolio of around 500 megawatts in wind and around close to 500 or 500 megawatts also in solar,” Oscar L. de Venecia, Jr., vice-chairman and CEO of Basic Energy, said in an interview with BusinessWorld.

Currently, the company is developing a 50-MW wind power project in Mabini, Batangas, through the joint venture company RDG Wind Energy Corp. 

Basic Energy recently finalized its joint development and shareholders’ agreement with Japanese renewable energy developer Renova, Inc. 

The P5-billion wind farm spans 4,860 hectares of land in Mabini, Batangas. It is slated for completion and commissioning as early as 2028. 

The Department of Energy awarded the wind energy service contract for the project to the company in 2021. 

Asked about expansion plans for the project, Mr. De Venecia said increasing its capacity is possible but that the company will focus first on ensuring the project becomes operational. 

“Based on what we’re seeing from the results of the wind resource assessment that was done, I think there is significant room for expansion. I think there’s still ample space on the ridges or the top to merit such expansion, but right now, our main concern really or our main thrust is to get the 50 MW up and running,” he said. 

“Along the way, or once we get that 50 MW up and running, then we will make the necessary call on whether or not to expand,” he added.

After the Batangas project, the company’s next focus is developing an onshore wind project in Panay Island with a potential capacity of up to 200 MW. 

“We will be commencing the wind resource assessment as soon as we have obtained a favorable system impact study from NGCP (National Grid Corp. of the Philippines). Once we have established that connectivity, we will go full swing already with resource assessment,” Mr. De Venecia said. 

The company is also looking to develop nearshore wind power projects with a potential capacity of up to 150 MW in Calatagan, Batangas, and up to 100 MW in Pasuquin, Ilocos Norte. 

Overall, the three wind power projects combined are estimated to cost around $760 million.

Regarding its other ventures, Mr. De Venecia said Basic Energy is in the process of applying for two solar power projects in Negros and Bataan with a combined capacity of 90 MW. 

“We want to be a long-term participant in the energy sector. We have been here since the first discovery of oil in the Philippines. We were part of that. Now, things have changed, and people are looking at different [sources] now. We want to be a part of that. As we keep growing, we also want to see where we can participate in bringing newer technologies later on,” Mr. De Venecia said.

Megawide says order book hit P43.5B in 2024 on P16.3-B contract wins

MEGAWIDE.COM.PH

By Revin Mikhael D. Ochave, Reporter

LISTED infrastructure conglomerate Megawide Construction Corp. secured P16.3 billion worth of new contracts in 2024 as the company expanded its project portfolio, its chairman said.

Megawide Chairman and Chief Executive Officer Edgar B. Saavedra told BusinessWorld that the company’s new contracts in 2024 were over 600% higher than the P2.3 billion secured in 2023.

The new contracts brought Megawide’s order book to P43.5 billion as of end-December 2024, equivalent to two to three years’ worth of revenues.

Of the total, 45% of the order book consists of internal projects within the Megawide group, 34% comprises external contracts, and 21% is allocated to infrastructure-related developments.

The company’s 2024 order book reflected a slight increase from the P43.1 billion recorded in 2023.

“Given our growing portfolio inside Megawide and within the larger Citicore Group, we are naturally increasing the share of internal projects in our order book,” Mr. Saavedra said.

“This strategic direction will enable us to harness synergies within the group and capture value across the entire supply chain,” he added. 

Citicore Holdings Investment, Inc., the parent firm of Megawide, is a holding company with interests in renewable energy through Citicore Energy REIT Corp. and Citicore Renewable Energy Corp.

Megawide previously announced its plan to diversify its order book, balancing private contracts, infrastructure projects, and internal developments.

“The move will also reduce our concentration in a single segment and de-risk our construction portfolio, providing us with a broader-based and well-balanced revenue platform,” Mr. Saavedra said. 

Meanwhile, Mr. Saavedra expressed optimism that synergies within the Megawide group will further drive its growth. 

The company operates across multiple sectors, including landport management through the Parañaque Integrated Terminal Exchange (PITX), property development via PH1 World Developers, Inc., precast and construction solutions, and engineering, procurement, and construction. 

“As a first-world infrastructure innovator and property developer, we envision social and economic sustainability in our ongoing and future projects while ensuring that synergies are maximized within the larger group,” Mr. Saavedra said. 

Megawide recently secured a P1.87-billion contract for the Cavite Bus Rapid Transit (BRT) system project. The contract covers the operation of a point-to-point route with a 42-kilometer alignment passing through Imus, General Trias, Tanza, Kawit, and Trece Martires, as well as nearby areas, while also providing connectivity to Metro Manila via PITX. 

The project’s first phase, set to begin operations in the second half of the year, will feature three terminals and 27 stations. 

Once completed, the BRT system will enhance accessibility and connectivity to Lancaster City via a dedicated feeder line, as well as PH1’s other projects in Cavite, such as Southscapes in Trece Martires. 

“We envision master-planned communities developed by PH1, constructed by Megawide using environmentally sustainable precast solutions and methodologies, and integrated with a hub-and-spoke public transport system, whether through BRT or transit-oriented developments, with PITX as the anchor,” Mr. Saavedra said. 

Megawide shares were last traded on March 7 at P2.39 per share.

More powerful GR Yaris now with both A/T and M/T variants

The Toyota GR Yaris sold 106 units last year, per Toyota Motor Philippines. — PHOTO FROM TOYOTA MOTOR PHILIPPINES

The rally-bred rocket gets upgrades aplenty

WITH 106 UNITS sold locally in 2024, the GR Yaris made its case for being among the country’s most desired performance vehicles. Toyota Motor Philippines (TMP) has obviously listened, sat up, and taken notice. The perennial triple crown (leading passenger-vehicle, commercial-vehicle, and overall auto sales) winner for 23 consecutive years straight now has revealed the newest iteration of the GR Yaris, which it also now makes available in either manual or automatic transmission.

In a release, TMP said that the Toyota GR Yaris is “born from the World Rally Championship (WRC) (and) embodies Toyota Motor Corporation Chairman Akio Toyoda’s belief that ‘roads build cars.’ As part of its philosophy to continually develop ever-better cars, Toyota emphasizes motorsports as an important avenue to test the limits of its performance cars and develop them for the road.”

A “bolder and more aerodynamic design”  decisively references its aforementioned rally heritage. The GR Yaris sports 18-inch 225/40 aluminum forged wheels, LED headlights, daytime running lamps, rear combination lamps and a rear spoiler. A significantly rehashed front fascia now features larger brake-cooling air intakes, while a plastic radiator cover has given way to a metal one for added protection and durability. Boot space remains at 174 liters.

It packs more grunt through its G16E-GTS heart — an inline three-cylinder, DOHC, four-valve Roller-Rocker engine — that submits 280ps and 390Nm. Toyota also has improved the GR Yaris’ drive mode select, along with a new sub radiator and intercooler spray to enhance both cooling and performance.

As mentioned, GR Yaris fans now can choose between two transmission variants: the 1.6L Turbo A/T with an eight-speed direct-shift automatic tranny (with paddle shifters), and the 1.6L Turbo M/T with six-speed intelligent manual transmission. Inside the cabin, TMP maintained that overall design is “driver-focused,” even as convenience features have been improved. A 12.3-inch TFT meter display gets a tire pressure monitor, and a seven-inch infotainment screen is thoughtfully equipped with wireless Apple CarPlay and Android Auto.

Based on a photo, a single, panel houses all the essential controls. The panel, which slants conspicuously to the driver, also includes the air-conditioning vents and controls — making these within easy reach. The front passenger has access to a USB-C charging port and a front tray on the dashboard — perfect for charging and stowing one’s cell phone or device.

The new Toyota GR Yaris also has additional safety complements such as a back monitor, intelligent clearance sonar, and the integration of the Toyota Safety Sense (TSS) package that also tucks in the Blind Spot Monitoring (BSM) system and Rear Cross Traffic Alert (RCTA). On top of these, the A/T variant comes with Dynamic Radar Cruise Control; the M/T variant comes with Adaptive Cruise Control.

Talking exclusively to “Velocity,” TMP President Masando Hashimoto said, “The GR Yaris is obviously not an ordinary car. The public has become a witness to its development, from the prototype that was used in actual races such as the Super Taikyu Series and the TGR Rally Challenge to the production cars showing their power in demanding motorsports environment. With the addition of the Automatic Transmission, we are extending the GR Yaris’ fun-to-drive spirit to more Toyota customers.” The executive continued, “The Gazoo Racing brand is best experienced through the power and excitement of our cars, and the GR Yaris brings exhilaration from the world’s rally courses to the roads of the Philippines. With both the A/T and M/T variants this 2025, we hope to increase our GR Yaris sales from last year to more than double.”

As for the pricing, the new GR Yaris will be offered at P3.391 million for the 1.6L Turbo M/T and P3.55 million for the 1.6L Turbo A/T. Buyers can choose from the following exterior hues: Super White, Emotional Red, Precious Black, and Precious Metal — the last being offered for the first time.

TMP is putting the spotlight on the new GR Yaris at Race Weekend 1 of the 2025 Toyota Gazoo Racing Philippine Cup on March 22 at the Clark International Speedway. Admission is free.

For more information on the GR Yaris, visit https://www.toyota.com.ph/gr-yaris or inquire at a GR performance dealership. To view the complete list of GR performance dealerships, visit https://www.toyota.com.ph/tgrphilippines/dealership. For updates, follow Toyota Gazoo Racing (tgrphilippines) on Facebook and Instagram, and TMP’s official accounts on Facebook and Instagram (toyotamotorph), ToyotaMotorPH on Twitter, or join the Viber community at Toyota PH for updates. — Kap Maceda Aguila

NALEX, SALEX construction may start this quarter — TRB

PHILSTAR FILE PHOTO

THE Toll Regulatory Board (TRB) said the construction of San Miguel Corp.’s (SMC) two toll road projects may start within the first quarter. 

“[For] NALEX and SALEX, the TRB targets to issue and approve the final engineering design and issue the notice to proceed. The construction will proceed in the first quarter,” TRB Executive Director Alvin A. Carullo told reporters last week. 

The two projects — the Northern Access Link Expressway (NALEX), valued at P148.30 billion, and the P152.39-billion Southern Access Link Expressway (SALEX) — are both being undertaken by SMC through SMC Northern Access Link Expressway Corp. and SMC Southern Access Link Expressway Corp., respectively. 

NALEX is divided into two phases: the first phase is a proposed 136.4-kilometer expressway connecting Metro Manila, the New Manila International Airport, and Central Luzon, while the second phase involves a demand-driven expansion from Pampanga to Tarlac City. 

SALEX is a proposed 40.65-kilometer elevated expressway network, which includes the Shoreline Express and three Metro Manila Skyway Stage extensions, according to information from the TRB website. 

The project proponents submitted their final engineering design last year, which the TRB targets to approve within the first quarter.

Mr. Carullo said Segment 1 of the South Luzon Expressway Toll Road 5 (SLEX TR5) is also expected to begin construction within the first quarter. This project is also being undertaken by SMC. 

In November last year, the TRB said it expected the implementation of these projects within the first quarter of 2025. 

The SLEX TR5 Segment 1 alignment begins at the termination point of SLEX Phase 2 in Mayao, Lucena City, Quezon, and ends in Gumaca, Quezon. 

The project is designed to have four interchanges and is valued at P28.15 billion, the TRB said. — Ashley Erika O. Jose

GWM has new brand head and marketing director

Dax Avenido — PHOTO FROM GWM PHILIPPINES

THE LUXURIANT Automotive Group, Inc., exclusive distributor of Great Wall Motor (GWM) in the Philippines, recently announced the formal appointment of Dax Avenido as its brand head and marketing director.

With more than two decades of experience in auto companies, Mr. Avenido is “expected (to steer) the company’s marketing efforts toward a more strategic and comprehensive direction that will drive the brand to new heights, challenging the competition,” according to a company release.

Mr. Avenido will report directly to GWM Philippines President Ruben Tan who said, “We (in the company) believe that there is so much potential to explore in the Philippine market. The brand is growing, and our vehicle lineup is expanding to cater to the everyday needs of our Filipino customers. With Dax in the driver’s seat of our brand and marketing initiatives, I am confident that GWM will be supported by passionate team members with prominent backgrounds and extensive knowledge to help explore this potential and contribute to the successful performance of our company.”

The brand maintained that it remains optimistic about the first half of 2025 “with an expert on board to help fulfill the company’s vision of becoming a strong player in the automotive industry under the Chinese car segment.”

Globe to expand sustainability initiatives

Globe’s Valero Telepark on Valero Street, Makati City — SCREENSHOT FROM GOOGLE MAPS

GLOBE TELECOM, Inc. will further expand its sustainability initiatives and investments as part of its commitment to achieving its net-zero goal, the Ayala-led telecommunications company said. 

“Sustainability is at the core of what we do, and through continuous investments in green technologies, we strive to reduce our environmental impact while ensuring reliable and efficient network operations,” Globe Chief Sustainability and Corporate Communications Officer Yoly C. Crisanto said in a media release on Sunday. 

Globe said its Valero Telepark has received recognition from the Department of Energy for its transition to 100% renewable energy to optimize energy management. 

The company’s Valero Telepark houses data equipment and technical offices, Globe said, adding that it has also implemented upgrades to enhance energy efficiency and reduce electricity consumption. 

Further, Globe said it has deployed Vertiv’s advanced uninterruptible power supply systems to its other facilities, improving energy efficiency. 

To recall, Globe previously said it aims to transition more of its facilities to renewable energy as part of its sustainability commitment. 

The listed telecommunications company said it would continue pursuing climate action strategies, including its target to cut greenhouse gas emissions by 50% by 2030 and achieve net zero by 2050. 

“Globe has been adopting green technologies as part of its commitment to climate action, working with partners like Vertiv to introduce innovative solutions that reduce environmental impact and promote long-term sustainability,” the company said. 

Last week, ST Telemedia Global Data Centres (STT GDC) Philippines, a data center solutions provider, announced that its data centers are now powered by renewable energy.

STT GDC Philippines is a joint venture of Globe Telecom, Inc., Ayala Corp., and ST Telemedia Global Data Centres.

All of its operational data centers in the country now run on renewable energy, STT GDC Philippines said, noting that this move is part of its net-zero commitment. — Ashley Erika O. Jose

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