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Micro-D, Novare Technologies rebrand under NOVARE identity

TECHNOLOGY company Micro-D International, Inc. and its software development subsidiary Novare Technologies, Inc. have rebranded as NOVARE as they seek to become a leading tech player in the Philippines and across Southeast Asia.

The rebranding is expected to help NOVARE focus on delivering purposeful technology in the Philippines and neighboring countries amid advancements in application programming interface (API) technology, cloud computing, and big data, the company said in a statement on Monday.

“The rebranding is a major milestone as digital transformation initiatives accelerate in the Philippines and ASEAN,” said Victor Silvino, chief executive officer of NOVARE.

“With NOVARE, we hope to make a difference in that fluid transformation space. We will lead with conscience as we pioneer technologies that propel renewal and sustainable progress.”

The rebranded company’s client-focused approach includes comprehensive modernization, customer experience enhancements, and data-driven insights to help users navigate a tech-driven future, it said.

Meanwhile, NOVARE shareholders acquired a 100% stake in Appistoki, a boutique Salesforce consulting platform with clients in the Philippines, the United States, Singapore, Indonesia, Ireland, and India.

“This strategic acquisition forms the NOVARE Group of companies and will enhance NOVARE’s technological capabilities while strengthening its relationships with key industry players in the Philippines, particularly among primary Salesforce users,” it said.

With its rebranding and acquisition, stakeholders and customers can anticipate significant developments from the NOVARE Group, it said.

“With renewed energy and purpose, the NOVARE Group is poised to redefine digital transformation and empower organizations in an increasingly interconnected and digital world, solidifying its status as a catalyst for innovation and sustainable progress.” — Beatriz Marie D. Cruz

Sony’s Madame Web snags worst picture Razzie Award

LOS ANGELES — Madame Web, an American superhero film featuring the Marvel Comics character of the same name, nabbed the most wins at the 45th Razzie Awards on Friday, including worst picture, actress, and screenplay.

The Razzie Awards are the annual Oscar spoof that spotlights Hollywood’s worst performances.

Seinfeld actor Jerry Seinfeld’s Netflix satire about the cereal industry, Unfrosted, scored two wins for worst actor for Mr. Seinfeld and worst supporting actress for Amy Schumer.

Tying with Unfrosted, Joker: Folie a Deux and Megalopolis were both crowned with two wins.

Joker: Folie a Deux won for worst prequel, sequel, remake, or rip-off and screen combo, while Megalopolis earned esteemed filmmaker Francis Ford Coppola worst director and Jon Voight worst supporting actor.

Mr. Coppola posted a response on Friday to the film’s Razzie wins.

“I am thrilled to accept the Razzie award in so many important categories for @megalopolisfilm, and for the distinctive honor of being nominated as the worst director, worst screenplay, and worst picture at a time when so few have the courage to go against the prevailing trends of contemporary moviemaking!” he wrote in an Instagram post.

“In this wreck of a world today, where ART is given scores as if it were professional wrestling, I chose to NOT follow the gutless rules laid down by an industry so terrified of risk that despite the enormous pool of young talent at its disposal, may not create pictures that will be relevant and alive 50 years from now,” Mr. Coppola added.

The Razzie Redeemer Award, bestowed on a past contender who has “gone on to better things” since being nominated for a Razzie, went to The Last Showgirl, which stars Pamela Anderson.

More than 1,100 Razzie members from across the United States and about two dozen other countries vote on the awards, according to the Razzie website. — Reuters

PSBank profit up 15%

PHILSTAR FILE PHOTO

PHILIPPINE SAVINGS Bank’s (PSBank) net income rose by 15% year on year to a record high in 2024, backed by strong loan growth and better asset quality.

The thrift banking arm of Metropolitan Bank & Trust Co. posted a net profit of P5.21 billion in 2024, up from P4.53 billion in 2023.

This translated to a return on equity of 12.4%, up from 11.7% the year prior.

“The robust double-digit growth in loans, coupled with significant improvements in asset quality, fueled the bank’s outstanding financial performance,” PSBank said.

“Our record-high performance reflects our commitment to sustainable growth and quality, and the unwavering trust of our clients. Looking ahead, we expect to capitalize on the growing and evolving needs of consumers,” PSBank President Jose Vicente L. Alde said.

The bank’s financial statement was unavailable as of press time.

PSBank’s core revenues, which include net interest income, service fees and commissions, went up by 4% year on year to P14.11 billion.

Meanwhile, operating expenses increased by 4%.

“Increase in operating expenses remained under control… as the bank pursued its cost optimization strategies,” PSBank said.

Gross loans expanded by 15% year on year to P144 billion at end-2024 amid strong demand from both the consumer and commercial segments.

“Despite the expansion in loan portfolio, the bank was able to keep its gross nonperforming loans ratio in check at 2.6%, better than 3.3% a year ago,” it said.

On the funding side, deposits with the bank totaled P165 billion.

The bank’s assets stood at P216 billion at end-2024.

Capital funds rose by 10% to P44 billion. Its capital adequacy and common equity Tier 1 ratios were at 23.6% and 22.5%, respectively.

PSBank shares slipped by five centavos or 0.09% to close at P58.60 on Monday. — Aaron Michael C. Sy

Dok Eddie Dorotan: Transforming local politics

Our friend Dok Eddie Dorotan is running for mayor of Irosin, Sorsogon.

It was a last-minute decision on his part. He was a reluctant candidate who could not bear the thought of having a political dynasty lording it over his hometown and province. And sadly, money defines Philippine elections and often predicts election outcomes.

Dok Eddie thus faces an uphill battle. He does not have the financial resources to fight such an opponent. How would he compensate for this gross disadvantage in resources?

Dok Eddie has integrity and honesty, competence and merit, compassion and kindness (radikal na pagmamahal or radical love), commitment and service. His sterling performance in delivering essential services and improving human development outcomes as a two-term mayor of Irosin (1992-1998) speaks for itself. His award-winning programs transformed a poor town into a progressive town, from a 5th to 2nd class municipality.

The gains of Irosin have eroded since Dok Eddie’s departure from elected office. Now, his hometown and the whole of Sorsogon are seeing a decline in living standards and a rise in poverty.

After his stint as an elected official, Dok Eddie was invited to direct Galing Pook Foundation, a non-government institution that provides support and resources for local government units (LGUs). This was in recognition of his accomplishments as mayor of Irosin. He steered Galing Pook towards enabling and empowering LGUs to become exemplars of good governance, human development, sustainability, and inclusiveness.

He is likewise a fellow of Action for Economic Reforms, a policy-oriented group advocating economic and political transformation.

Dok Eddie, as a civil society leader, has made outstanding contributions to the reform effort like enabling universal healthcare, putting in place practical measures to protect people from COVID-19, and promoting data-driven development at the local level. Providing primary healthcare is his passion and expertise.

He belongs to the Class of ’81 of the University of the Philippines College of Medicine (UPCM). A neuroanatomy professor casually described the UPCM Class ’81 as simple, groovy, country doctors — half of the class stayed on to serve the country, and not a few served the far-flung areas in Mindanao and the Cordilleras. Dok Eddie perhaps was the most accomplished of the simple groovy country doctors. He served in his hometown, living on the chickens and eggs he received as a professional fee. But most of the time, he practiced gratis.

He thus won the hearts of the people of Irosin and became town mayor.

In short, Dok Eddie has done so much to improve the lives of our people and to make a better society. He lives by the values that his alma mater ingrained in him: Being a man for others, serving the people, upholding honor and excellence.

At his age, he can retire and at the same time remain active in civic engagement. In fact, he has found time for meditation, painting, traveling, enjoying the beach, rearing dogs, bonding every day with his wife Oyen, and loving the company of apos (grandchildren).

But some concerned friends ask: Why will Dok Eddie run again? And why court further troubles at a time when his family is deeply grieving from the death of two brothers late last year?

Dok Eddie himself has had angioplasties. The truth of the matter is he fared very well in his last stress test, reaching 110% of his maximal heart rate without feeling chest pain or shortness of breath. He is still very young at heart and full of energy.

Is he tilting at windmills? He is a visionary and at the same time is practical. There is vision in his running. He is fully aware that his role is transitional. Others, especially the younger generations whom Dok Eddie can inspire, will continue the pursuit of his reforms and vision of good governance and a better Irosin.

His transitional role is to rebuild, piece by piece, good governance in Irosin, which in turn can motivate other local governments all over the country to follow suit. The scaling up and consolidation of pockets of good local governance can lead to national transformation.

Worth quoting is a passage from Manny V. Pangilinan’s speech at the homecoming of Ateneo graduates of economics in November 2024:

“A society grows great when old men plant trees whose shade they know they shall never sit in.”

In the same vein, Mr. Pangilinan said “We are stewards of the future…. We have the responsibility to leave a better world for the next generation.”

Those words exactly capture Dok Eddie’s current mission to attain an Irosin and a Philippines liberated from debasing poverty, where our people live long and healthy lives, where everyone’s quality of life is high, where everyone’s dignity is observed. He exemplifies the steward and a transformational leader who is rooted in the community.

Complementing his vision is his pragmatism — he knows that reforms take long to solidify. To return to Mr. Pangilinan’s metaphor, what matters in the here and now is planting the good seeds. The good harvest will be reaped.

Dok Eddie’s pragmatism tells him that the current political climate makes it hard for reformers to win. But pragmatism does not mean running away from a fight. Pragmatism is about being aware of the problems and obstacles but likewise knowing how to remove the roadblocks to advance.

The main roadblock is financing. He does not have deep pockets. But he can fight effectively with a minimum necessary amount to finance the campaign. He needs the minimum necessary to feed his volunteers, maintain office operations, gather information, and conduct surveys and Focus Group Discussions, sustain information and media work, and the like.

He will need all the support he can get. Any kind of assistance will boost his campaign. Whatever support — like contributions and volunteer activities — will help realize the hope of (and we paraphrase Dok Eddie) implementing universal healthcare, having access to quality education at all levels, uplifting livelihoods, having access to affordable and nutritious food, protecting our once beautiful mountains, rivers, and seas, and transforming our politics.

Making this hope real is not only for the people of Irosin and Sorsogon. Ultimately it will benefit all of us.

 

The co-authors are long-time friends of Dok Eddie Dorotan. Filomeno S. Sta. Ana III coordinates the Action for Economic Reforms while Jose Noel C. De La Paz is senior executive of Metro Pacific Health and board member of most of its 27 hospitals across the country. Dr. Rogelio V. Tangco is a cardiologist, and Romeo A. Dalandan, Jr. is a trustee of the Ateneo Association and former director of the Ateneo Alumni Relations Office. For details, e-mail Romeo Dalandan, Jr. at radalandan@gmail.com

Manufacturing Purchasing Managers’ Index (PMI) of select ASEAN economies, February 2025

PHILIPPINE MANUFACTURING activity in February expanded at its slowest pace in 11 months amid softer growth in orders and output, data from S&P Global showed. Read the full story.

Manufacturing Purchasing Managers’ Index (PMI) of select ASEAN economies, February 2025

PSE income rose 57.5% to P1.21 billion in 2024

PHILIPPINE STAR/EDD GUMBAN

THE PHILIPPINE Stock Exchange, Inc. (PSE) grew its 2024 net income by 57.5% to P1.21 billion from P766.31 million in 2023, following its acquisition of the Philippine Dealing System Holdings Corp. (PDS).

Operating revenue declined by 0.23% to P1.398 billion from P1.401 billion the previous year, PSE said in an e-mail statement on Monday.

PSE increased its other income by 166% to P836.32 million, driven by a P462.86-million gain on the remeasurement of its previously held equity interest, arising from the consolidation of its additional stake in PDS.

Expenses rose by 14.9% to P861.67 million due to higher depreciation costs and maintenance fees for trading, clearing, and settlement systems.

“The three-year strategic plan we laid out last year included the acquisition of PDS, which should provide a significant boost to our market development initiatives and bottom line,” PSE President and Chief Executive Officer Ramon S. Monzon said.

In December last year, the market operator announced its acquisition of a 61.92% stake in PDS for P2.32 billion as part of efforts to consolidate the local capital markets. PSE will purchase 3.87 million PDS shares at P600 apiece.

PSE also previously signed an agreement to acquire the 4% stake in PDS held by AIA Philippines Life and General Insurance Co., Inc. Once all closing conditions are met, this move will increase PSE’s ownership in PDS to 88.44%.

As of Feb. 24, PSE’s stake in PDS stood at 78.33%, up from its original equity interest of 20.98%.

“Our post-acquisition objectives will focus on the seamless integration of both entities to fully realize synergies, efficiencies, and risk management benefits,” Mr. Monzon said.

“We will also continue to pursue and complete the initiatives that PDS has already started in the fixed-income and depository businesses to further expand investor participation and protection in our market,” he added.

On Monday, PSE shares rose by 2.14% or P3.90 to P185.90 apiece. — Revin Mikhael D. Ochave

Singer Charli xcx wins top prizes at BRIT Awards

LONDON — Singer Charli xcx, whose album Brat inspired a cultural phenomenon last summer, was the big winner at the BRIT Awards, Britain’s pop music honors, in London on Saturday, picking up five prizes.

Brat, which inspired fans to film themselves dancing to its tracks and whose lime green cover look was adopted by US presidential hopeful Kamala Harris’ campaign on social media after the singer referenced her in a post, won the coveted album of the year category.

Charli xcx, who had led nominations, was also named artist of the year and best dance act. Her single “Guess,” featuring Billie Eilish, won song of the year beating tracks including the Beatles’ “Now and Then.”

The 32-year-old pop star had won her first BRIT, songwriter of the year, earlier in the week.

“I’ve always felt like an outsider in the industry but particularly in the British music industry and so it feels really nice to be recognized on this album,” she said as she received the album of the year award.

“I would just like to share this with all artists who have ever felt that they need to compromise to be recognized and to have their moment in the sun because I think I’m living proof that maybe it takes a long time, but… you don’t need to compromise your vision.”

The singer released her debut studio album in 2013. Brat was her sixth and she said she would “probably never make a record like this again.”

“It’s so in my instinct to just like not do the same thing twice… I will probably reject it completely and do something completely different,” she said.

Jazz quintet Ezra Collective was named group of the year.

“This moment right here is because of the great youth clubs and great teachers and the great schools that support young people playing music,” drummer Femi Koleoso said in one of several of the night’s acceptance speeches that called for more support for young musicians and grassroots venues.

US singer Chappell Roan won international artist of the year while her track “Good Luck, Babe!” won international song of the year.

“Espresso” singer Sabrina Carpenter was named as the first international recipient of the global success award, which recognizes artists with “phenomenal global sales,” following in the footsteps of One Direction, Adele, Ed Sheeran and Sam Smith.

The ceremony also featured a tribute dedicated to late One Direction singer Liam Payne, who died in October after falling from a third-floor hotel room balcony in Buenos Aires, shocking fans of the boy band, one of the most popular of all time. — Reuters

Okada Manila earns Forbes VERIFIED Responsible Hospitality badge

OKADA MANILA on Monday said it is the Philippines’ first integrated resort to receive the Forbes Travel Guide VERIFIED Responsible Hospitality badge.

The Forbes Travel Guide VERIFIED Responsible Hospitality badge is a third-party certification that sets the global benchmark for environmentally conscious hospitality. 

Developed in collaboration with sustainability partner Hervé Houdré, the Responsible Hospitality badge assures guests and travel advisors that certified hotels adhere to responsible and sustainable operational practices. 

“This recognition affirms our continuous efforts to create a responsible and sustainable hospitality model that prioritizes people and the planet,” Okada Manila Vice-President for Hotel Operations Rob Scott said in a statement on Monday. 

The integrated resort highlighted its sustainability initiative, the Okada Green Heart program, which incorporates eco-friendly innovations, resource conservation, and waste reduction across all operations to minimize its environmental footprint. 

“The Forbes VERIFIED Responsible Hospitality badge is more than just an honor — it reflects our deep-rooted belief that premium hospitality must go hand in hand with environmental responsibility,” Okada Manila President and Chief Operating Officer Byron Yip said. — Beatriz Marie D. Cruz

Coin deposit machine collections reach P1.31B

BSP.GOV.PH

THE BANGKO SENTRAL ng Pilipinas’ (BSP) coin deposit machines have collected P1.31 billion worth of currency as of Feb. 15.

This was 5.6% higher than the P1.24 billion worth of coins collected as of Jan. 15, the central bank said in a social media post.

There were 299,457 transactions made via the machines involving 326.2 million coins.

In June 2023, the BSP and its retail partners launched the deposit machines to promote coin recirculation.

The project aims to address artificial coin shortage in the financial system and help ensure that the public uses only fit and legal tender.

All denominations of the BSP Coin Series and New Generation Currency Coins Series are accepted by the machines.

However, unfit, mutilated and demonetized coins, foreign currency and foreign objects such as tokens, buttons and coins taped together get rejected by the machines.

The value of coins deposited in the machines may be credited to a person’s e-wallet or bank account or converted into shopping vouchers.

Users do not need to provide any identification documents to use the coin deposit machines.

There are currently 25 deposit machines available in the Greater Manila Area. They can be found in select retail establishments of the SM Store, Robinsons Supermarket and Festival Mall.

The BSP has said it plans to install 25 more coin deposit machine units nationwide this year to boost accessibility. — Luisa Maria Jacinta C. Jocson

How PSEi member stocks performed — March 3, 2025

Here’s a quick glance at how PSEi stocks fared on Monday, March 3, 2025.


Senate shoring up bicam position on five-year mineral export delay

REUTERS

By Adrian H. Halili, Reporter

THE SENATE is gathering data to support its position on a five-year grace period before imposing a ban on the export of unprocessed minerals, its president, Francis G. Escudero, said, as legislators sought to harmonize the two chambers’ versions of a mining fiscal regime bill.

“We are already in the stage of the bicameral conference committee on the mining fiscal regime (and are discussing the proposed) five-year ban,” Mr. Escudero said in a Senate committee hearing.

“That’s one of the main reasons why I conducted this hearing, actually — to be able to get some data to justify that period or an extended period,” he said, noting that the House version of the bill contains no such grace period.

Senate Bill No. 2826 or the Enhanced Fiscal Regime for Large-Scale Metallic Mining bill, which the Senate approved on third reading on Feb. 3, wants a five-year delay before imposing an ore export ban to give miners time to set up processing plants in the Philippines.

Environment Undersecretary Carlos Primo C. David said at the hearing that gauging the impact of the delay is difficult because  prices for mineral products fluctuate.

“We should study this very carefully because the prices of raw ore versus processed byproducts vary,” Mr. David said.

Using nickel prices as an example, he added that there are times where processed nickel prices drop, while those of raw ore remain still high.

The Philippines is among the biggest exporters of raw nickel, a key material used in electric vehicle batteries as well as in stainless steel. Most Philippine raw nickel exports go to China, with the remainder taken up by Japan.

In a separate briefing, Mr. Escudero said that the minerals being considered for export bans are gold, copper, nickel, and iron.

“The government can immediately ban the export of gold ore as processing facilities are already present in the country. For copper there are already facilities, but the processing (capacity) is lacking. We still don’t have (facilities) for nickel and iron,” he said.

“So, the period can depend on the mineral,” Mr. Escudero said.

He added that among the proposals in the Senate are a further extension of the grace period to between seven and 10 years.

“Or it can still be five years, but subject to extension by the Department of Environment and Natural Resources (DENR), the Fiscal Incentives Review Board (FIRB), or the Department of Trade and Industry (DTI),” Mr. Escudero said.

Asked to comment, Chamber of Mines of the Philippines (CoMP) Executive Director Ronald S. Recidoro said a ban on the export of raw mineral will have “far-reaching negative effects on the mining industry and those that rely on it for their livelihood.”

“While the proposal is well-intentioned, it is poorly suited to the current realities of the Philippine minerals development sector. Our country lacks the infrastructure, energy cost advantages, and policy consistency required for the success of similar bans in other countries, such as Indonesia,” he said via Viber.

“Without addressing these fundamental challenges, an export ban is likely to exacerbate existing issues rather than catalyze growth in domestic processing and value-adding industries,” Mr. Recidoro added.

In a joint statement issued previously, the CoMP and the Philippine Nickel Industry Association said a ban on ore exports could lead to further mine closures and an increase in unemployment.

Additionally, Mr. Escudero called on the DENR to review inactive, non-operational, invalid or unused mining exploration permits and Mineral Production Sharing Agreements (MPSAs).

“There are exploration permits and MPSAs that are not moving; they do not benefit the nation or to Filipinos,” he said.

Mr. Escudero added that the DENR should revoke unutilized exploration permits or MPSAs issued to individuals or companies.

“If you do not fulfill the agreed upon tasks within the specified time, your exploration permit or MPSA should be revoked and canceled… They are mere contractors. Any grantees of exploration permits or MPSAs are mere contractors of the state over an asset that is owned by the state,” he said.

PEZA considering powering industrial locators with LNG

ENERGY.AGPGLOBAL.COM

THE Philippine Economic Zone Authority (PEZA) said it is considering liquefied natural gas (LNG) to power industrial locators within economic zones (ecozones).

“More than energy production, PEZA is looking at an LNG-based industry to support industrial processes like food processing, plastics and chemical manufacturing, and glass production, which utilize LNG as a heating and drying source,” said PEZA Director General Tereso O. Panga in a statement on Monday.

He said that the establishment of a “trigeneration facility” was the subject of a feasibility study PEZA conducted with Shell-UK Sustainable Group in 2019.

“The objective was to provide for an embedded power generation, district heating, and cooling system for our Cavite Economic Zone locators,” he said.

“We decided not to push through with the project because LNG was costly at that time to produce and deliver,” he added.

However, Mr. Panga said that the recent engagements among the Philippine National Oil Co., Indonesia’s PT Pertamina and Malaysia’s PERONAS for proposed LNG-powered generated facilities in off-grid islands in the Visayas and Mindanao indicate progress in the shift to an LNG-based industry.

“In our Mactan Economic Zone, we are facilitating the application of Cebu-based Topline Energy and its partner, US-based Excelerate Energy, for LNG infrastructure — which we hope will pave the way for the establishment of the first trigeneration facility in the country,” he added.

The Philippines’ investments and production capacity for oil and gas accounted for 0.7% of gross domestic product (GDP), the smallest among the six leading ASEAN economies, Mr. Panga said.

Vietnam invests the equivalent of 10% of its GDP, Indonesia 12%, and Malaysia 20%.

“With the reported rich deposits of oil and gas reserves in Mindanao and within our territorial waters or exclusive ecozone in the West Philippine Sea, we can tap these marine hydrocarbon resources for our energy, transport, and industrialization requirements,” Mr. Panga said.

“As such, the Philippines can be self-sufficient and self-sustaining as we pursue an LNG-based industry and capitalize on our indigenous oil and gas resources to accelerate our economic growth,” he added. — Justine Irish D. Tabile