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142 firms qualify for green energy bidding

FREEPIK

THE DEPARTMENT of Energy (DoE) on Thursday said 142 bidders have qualified for the fourth round of the Green Energy Auction (GEA-4), which aims to install 10,653 megawatts (MW) of renewable energy (RE) capacity across the country.

In an advisory, the agency said more than 230 bids were submitted for evaluation by the Green Energy Auction-Bids Evaluation and Awards Committee. The participants were screened based on technical, legal and financial qualifications.

“The selected companies have demonstrated the technical, legal, and financial capabilities necessary to participate and contribute to the Philippines’ long-term clean energy targets,” the DoE said.

Notable participants include some of the country’s biggest power developers — Citicore Renewable Energy Corp., San Miguel Global Power Holdings Corp., ACEN Corp., Aboitiz Power Corp., First Gen Corp., Basic Energy Corp., Alternergy Holdings Corp., NexGen Energy Corp. and PetroEnergy Resources Corp.

Citicore submitted the most bids among all qualified entities, with 27 project proposals.

GEA-4 is offering 9,553 MW of renewable energy capacity through ground-mounted, rooftop and floating solar, as well as onshore wind projects.

An additional 1,100 MW is allocated for solar projects integrated with energy storage systems, such as battery, flywheel or pumped hydro technologies — the first time such hybrid systems are included in the auction.

The auction supports the country’s push to develop RE as a primary energy source through a competitive selection process.

Under the Green Energy Auction, developers bid to supply a specific capacity at the lowest incentivized fixed rate, with winning projects expected to begin commercial operations from 2026 to 2029. Each contract will run for 20 years from the plant’s commercial start date.

A virtual pre-bid conference for all qualified entities is set for July 28. The auction itself will be conducted on Sept. 2, with results scheduled for release on Oct. 22.

Last month, the Energy Regulatory Commission (ERC) released the Green Energy Auction Reserve prices, which will serve as the price ceilings for the bidding.

The ERC set a rate of P5.68 per kilowatt-hour (kWh) for ground-mounted solar, P4.4832/kWh for rooftop solar and P6.5258/kWh for floating solar. Onshore wind projects have a ceiling of P6.0859/kWh, while solar-plus-storage systems are capped at P5.4028/kWh.

The GEA is a flagship initiative designed to help the Philippines hit its goal of increasing the share of renewable energy in the power mix from 22% to 35% by 2030 and 50% by 2040. — Sheldeen Joy Talavera

Marcos appoints ERC chairman

FRANCIS SATURNINO C. JUAN — BW FILE PHOTO

By Sheldeen Joy Talavera and Chloe Mari A. Hufana, Reporters

PRESIDENT Ferdinand R. Marcos, Jr. on Thursday appointed Francis Saturnino C. Juan as the chairman and chief executive officer (CEO) of the Energy Regulatory Commission (ERC) effective Aug. 8.

He replaces Monalisa C. Dimalanta, who submitted her “irrevocable resignation” last week.

Palace Press Officer Clarissa A. Castro confirmed the appointment, citing Mr. Juan’s long-standing experience in energy regulation.

“He has played a key role in operationalizing the wholesale electricity spot market, advocating consumer protection and promoting renewable energy development through tariff reforms,” she added.

Created under the Electric Power Industry Reform Act of 2001, the ERC functions as an independent, quasi-judicial regulator that promotes competition, penalizes market abuse and protects consumers.

Mr. Juan served as the ERC’s executive director and general counsel and led the Independent Electricity Market Operator of the Philippines as president and chief executive officer.

Ms. Dimalanta cut short her seven-year term, originally set to end in 2029. Malacañang has not disclosed the reason behind her resignation.

Mr. Marcos also appointed lawyers Amante A. Liberato and Francis G. Real as ERC commissioners, replacing Catherine P. Maceda and Alexis M. Lumbatan, whose terms ended on July 9.

Mr. Liberato is the deputy executive secretary for finance and administration at the Office of the President and had worked with the Commission on Audit. Ms. Castro said his “strong background in fiscal management and regulatory policy will be vital in supporting institutional reforms within the ERC.”

Mr. Real brings over 20 years of legal experience and has participated in key ERC regulatory proceedings. “He is known for his focus on legal integrity and consumer protection that is expected to strengthen the commission’s quasi-judicial processes,” Ms. Castro said.

Industry leaders welcomed Mr. Juan’s return to the commission.

“We are confident that Chairman Nino Juan will continue to pave the way for energy modernization, promoting regulation that is best for all sectors to ensure energy security, reliability and efficiency,” Anne E. Montelibano, president of the Philippine Independent Power Producers Association, Inc., said in a Viber message.

Theresa Cruz-Capellan, chairperson of the Philippine Solar and Storage Energy Alliance, described Mr. Juan as “a qualified replacement who has broad knowledge and deep understanding of the job.”

“During his time in the commission, he showed resolve amidst bureaucratic challenges, displayed good judgment and compassion, and ensured consumer protection and fair return to power producers,” Ms. Cruz-Capellan said in a statement. “He is consistently optimistic by finding ways to navigate the complexities of rule-making.”

Meralco PowerGen Corp. President and CEO Emmanuel V. Rubio also commended Mr. Juan. “His deep regulatory expertise and experience are valuable assets in strengthening regulatory frameworks, ensuring market transparency and advancing consumer protection,” he said in a Viber message.

ACEN President and CEO Eric T. Francia said Mr. Juan’s leadership could help address the commission’s challenges and case backlog. “The incoming chairman’s vast relevant experience will be a huge plus.”

The Philippine Rural Electric Cooperatives Association, Inc. (PHILRECA) called on the ERC leadership to prioritize key areas for electric cooperatives, particularly the resolution of pending over- and under-recoveries.

“These approvals are fundamental for electric cooperatives to undertake critical system upgrades, secure stable and affordable power supply, expand electrification and enhance the overall reliability and efficiency of their services,” PHILRECA said in a statement.

Meanwhile, consumer group Power for People Coalition (P4P) urged Mr. Juan to protect consumer rights and ensure corporate accountability. “P4P will as usual remain vigilant in ensuring the ERC does its mandate of protecting the interest of consumers,” P4P Convenor Gerry C. Arances said in a separate statement.

Philippines may negotiate US tariffs down to 10% — BMI

PHILIPPINE STAR/EDD GUMBAN

By Luisa Maria Jacinta C. Jocson, Senior Reporter

THE PHILIPPINES has room to negotiate with the US to bring down its reciprocal tariff to as low as 10% using defense concessions as a key bargaining chip, according to Fitch Solutions’ research unit BMI.

“While [US President Donald J.] Trump has raised the rate from 17% to 20% for no explicit reason, the Philippines still faces some of the lowest tariffs in Asia,” Darren Tay, head of Asia country risk at BMI, told a webinar on Thursday.

“Overall, we still think the Philippines stands a good chance of bargaining the reciprocal rate down to the baseline 10%,” he added.

The Philippine government earlier said it is working to secure better terms with the US after Mr. Trump announced a 20% tariff on Philippine goods last week, effective Aug. 1.

“While few details have emerged from bilateral trade talks, we believe defense spending will emerge as a point of contention in the proceedings,” Mr. Tay said.

“Making concessions on defense is one good way of securing a trade deal, given that pushing allies to do more is one of Trump’s priorities,” he added.

He said increasing defense spending to 5% of economic output, similar to North Atlantic Treaty Organization benchmarks, would “impress” Mr. Trump, but noted that the Philippines is likely to propose a lower percentage.

Data from the Stockholm International Peace Research Institute  showed the Philippines’ military expenditure rose nearly 20% to $6.12 billion in 2024 from a year earlier. This brought the country’s military burden — military spending as a percentage of gross domestic product (GDP) — to 1.3%.

“But that should still be sufficient to secure a deal. Our base case, therefore, envisions reciprocal tariffs at 10%,” Mr. Tay said.

He noted that even in a worst-case scenario where tariffs rise to 20% across all sectors — including a 200% duty on pharmaceuticals — the overall impact would be limited due to the Philippines’ minimal export volume of such products to the US.

BMI maintained its economic growth outlook for the Philippines, noting that the country is less vulnerable to tariff shocks than its regional peers.

“In terms of GDP at risk, the Philippines is relatively insulated,” Mr. Tay said. “Besides the fact that export exposure to the US is slightly below average, we know that roughly half of exports to the US actually come in the form of services that are largely provided by the business process outsourcing sector — and those are untouched by tariffs.”

BMI projects Philippine GDP to grow 5.4% this year, slightly below the government’s 5.5% to 6.5% target.

INCREASED COSTS
Meanwhile, Moody’s Analytics said the US tariff could drive up costs and force businesses to rethink their supply chain strategies.

“The introduction of a 20% blanket tariff on Philippine exports to the United States adds complexity to global supply chains,” Moody’s Senior Director Choon Hong Chua said in a commentary released this week.

He added that the tariff could increase operational uncertainty for Philippine exporters accessing the US market.

“Philippine exporters may face increased costs and heightened uncertainty in accessing the US market, which could lead to reduced demand and intensified competitive pressures — particularly if higher costs are passed on to consumers,” Mr. Chua said.

Mr. Trump announced the tariff, which takes effect on Aug. 1, last week. The 20% rate is higher than the 17% initially announced in April and brings the Philippines in line with tariffs imposed on Vietnam, which recently secured a trade deal with the US, and now also faces a 40% duty on transshipped goods.

Other Southeast Asian nations also hit with increased tariffs include Laos and Myanmar (40%), Cambodia and Thailand (36%), Indonesia (32%), and Malaysia and Brunei (25%).

Moody’s noted that the Philippines could be affected since the US is the top destination for Philippine-made goods. More than 15% of the country’s exports in May were bound for the US, according to the Philippine Statistics Authority.

Mr. Chua advised companies with exposure to Philippine-based sourcing to reconsider their supplier strategies amid rising geopolitical and tariff-related risks.

“For companies with exposure to Philippine sourcing, it may be prudent to reassess supplier strategies in light of evolving geopolitical and tariff-related risks,” he said.

While firms may look to shift their sourcing to other Southeast Asian markets, Mr. Chua warned that such a move could involve short-term operational challenges.

“While some organizations may consider alternative sourcing options within Southeast Asia, any transition could involve short-term operational adjustments,” he said.

Despite these potential disruptions, Mr. Chua cited the importance of keeping a flexible and well-monitored supply chain to weather trade uncertainties.

“Maintaining supply chain visibility and agility remains essential for resilience,” he said. “Businesses that proactively adapt to shifting trade conditions and mitigate emerging risks will be better positioned to navigate ongoing uncertainty.”

Moody’s commentary underscores growing global concerns about how escalating trade measures could reverberate through supply chains, particularly in export-dependent economies like the Philippines.

8990 Holdings seeks delisting, tenders P10.42 per share

8990HOLDINGS.COM

By Revin Mikhael D. Ochave, Reporter

MASS HOUSING developer 8990 Holdings, Inc. is planning to voluntarily delist from the Philippine Stock Exchange (PSE), with its subsidiary launching a tender offer at P10.42 per share as part of the exit process.

“Upon extensive deliberations by the board of directors of the company, the board has approved the voluntary delisting of the company from the PSE,” 8990 Holdings said in a regulatory filing on Thursday.

“The board noted that the voluntary delisting of the company would unlock the intrinsic value of the company’s business and assets, which does not seem to be fully appreciated by the market, based on the historical trading price of the company’s shares on the PSE,” it added.

The tender offer will exclude common shares owned by majority shareholders Iholdings, Inc., Kwantlen Development Corp., Mariano D. Martinez, Luis N. Yu, Jr., and the qualifying common shares of the directors.

The offer price represents a 10% premium over the one-year volume-weighted average price of the company’s common shares from July 16, 2024, to July 16, and falls at the upper end of the range in an independent valuation report.

The tender offer price is also a 13.3% premium over the share price of P9.20 apiece on July 16.

8990 Holdings said the voluntary delisting is up for stockholders’ approval during the annual stockholders’ meeting on Aug. 26.

For a company to voluntarily delist from the PSE, the tender offer should constitute at least 95% of the total issued and outstanding common capital stock of the company.

8990 Holdings is the third company to delist this year, joining Kepwealth Philippines Holdings, Inc. and Philab Holdings Corp.

Trading of 8990 Holdings’ shares was suspended on Thursday and will resume on Friday following the announcement.

DragonFi Securities, Inc. Equity Research Analyst Jarrod Leighton M. Tin said in a Viber message that the tender offer price offers a “reasonable exit” for minority shareholders.

“The decision to go private is understandable. Remaining listed entails significant regulatory and reportorial requirements, which may no longer be aligned with 8990 Holdings’ current strategic direction. For a company with limited trading activity, the benefits of staying public may no longer justify the costs,” he said.

“Given 8990 Holdings’ prolonged illiquidity and lack of investor interest, the stock has suffered from poor price discovery. With limited market activity, it has been difficult for the public to realize the company’s intrinsic value,” he added.

Mr. Tin said the increasing number of companies opting to delist this year reflects the challenges faced by the local capital markets.

“The growing number of exits underscores persistent issues in the local capital markets — chief among them, low liquidity and limited investor participation,” he said.

“That said, the PSE’s move to streamline its roster by delisting dormant or thinly traded companies may help consolidate trading volume and improve liquidity in remaining names,” he added.

8990 Holdings has business interests in the affordable housing business. Its portfolio includes low-cost mass housing units and subdivision lots, medium-rise, and high-rise building housing units. The company also has interests in hotel operations.

The company’s real estate brands include Deca Homes, Deca Towers, and Urban Deca Towers.

SEC cuts filing fees for MSMEs by up to 50%

A woman arranges bottles of vinegar at a food exhibition. — PHILIPPINE STAR/JOHN RYAN BALDEMOR

THE Securities and Exchange Commission (SEC) is slashing rates on certain filing fees for micro, small, and medium enterprises (MSMEs) to support their growth.

The corporate regulator issued Memorandum Circular (MC) No. 8 on July 16, which provides for lower rates on certain transactions involving MSMEs, with discounts ranging from 20% to 50%.

“MSMEs are the backbone of our business sector, accounting for more than 99% of all businesses in the country and generating millions of jobs for our fellow Filipinos,” SEC Chairperson Francisco Ed. Lim said in an e-mail statement on Thursday.

“This policy represents our strong resolve to help bring down barriers to entry for small businesses to ensure they can grow, thrive, and continuously contribute to economic growth,” he added.

Under the MC, the SEC announced a 50% discount on the registration of securities for MSMEs that will tap the capital market. This will be effective until June 30 next year.

The move is consistent with the commission’s commitment to further reduce friction costs for companies looking to go public, the SEC said.

Effective until Dec. 31 this year, the MC also provides that MSMEs planning to register as a corporation will be given a 20% discount on registration fees, while those looking to increase their capital stock by amending their articles of incorporation will receive a 25% discount on filing fees.

MSMEs are classified based on asset size, as provided under Republic Act No. 9501 or the Magna Carta for MSMEs.

Under the law, micro-sized businesses have assets of up to P3 million; small businesses, up to P15 million; and medium-sized enterprises, up to P100 million.

For capital stock increases and securities registration filings, the president or treasurer of the applicant company must issue a signed certification of qualification stating that the company’s total assets exclude the land on which the business entity’s office, plant, and equipment are located.

“The commission is committed to implementing strategic interventions tailored to MSMEs to encourage economic growth, create employment, and strengthen the Philippines’ self-sufficient industrial foundation,” the SEC said.

The reduced rates for MSMEs follow the SEC’s announcement earlier this month to cut the rates for corporate data requests by 50%.

The corporate regulator has also previously committed to strict timelines for processing applications for permits, licenses, registrations, certificates, clearances, and other authorizations, in order to eliminate delays and remove backlogs. — Revin Mikhael D. Ochave

SSS acquires 740-M Century Properties shares

CENTURY-PROPERTIES.COM

LISTED real estate developer Century Properties Group, Inc. (CPG) has sold P500 million worth of shares to the state-led Social Security System (SSS) through a block sale transaction.

SSS acquired 740.74 million CPG shares at P0.675 per share, the company said in a regulatory filing on Thursday.

CPG is primarily engaged in the development, marketing, and sale of mid- and high-rise condominiums and single-detached homes, in the leasing of retail and office space, and in property management.

The company, through its subsidiary PHirst Park Homes, Inc., is planning to launch around 10 projects over the next two years, including its first development in Mindanao, set for the third quarter of this year.

“The next five years will see continued growth and sustained launches from PHirst, highlighting our vision of becoming a leading enabler of first-time home buyers in the country,” Century Properties President and Chief Executive Officer Jose Marco Antonio said during the company’s annual stockholders’ meeting last month.

PHirst President Ricky M. Celis said the segment is on track to open six to eight new projects across different brands in 2025, covering about 100 hectares.

The upcoming developments will consist of more than 10,000 units, with a projected sales value of P25 billion.

For the first three months, CPG saw its net income rise by 16% year on year to P473 million, while consolidated revenue grew by 4% to P3.72 billion. PHirst accounted for 60%, or P2.24 billion, of total revenue.

On Thursday, CPG shares closed unchanged at P0.71 each. — Sheldeen Joy Talavera

Lucien Dy Tioco @ 60: Leading through liminal space

Lucien C. Dy Tioco, executive vice-president of the PhilSTAR Media Group

By Bjorn Biel M. Beltran, Special Features and Content Assistant Editor

In the past two decades, few media executives have had to make harder choices than those leading legacy newspapers into the digital age. Faced with an unknown frontier, many were at a loss.

Some titles doubled down on nostalgia, hoping the loyalty of aging print readers would carry them through. Many others treated digital as an afterthought, walling off online operations from their editorial cores, republishing print content wholesale without adapting them to the digital medium, or outsourcing innovation to agencies with no stake in the paper’s identity.

As part of that era of leaders, Lucien C. Dy Tioco, executive vice-president of the PhilSTAR Media Group (PMG), the multimedia outfit that houses esteemed titles like The Philippine STAR and BusinessWorld, had to brave that transition.

In doing so, he has not only succeeded in adapting the journalistic legacy of Philippine print media to the digital age, helping his organization become the leading print media organization in the country with six titles comprising broadsheets and tabloids circulated nationwide; but he also transformed the brand into a creative platform for advertisers navigating the new media landscape, securing the partnerships and collaborations that ensured the company’s continued success.

Upholding past legacy

After earning a degree in Journalism from the University of Santo Tomas in 1985, Mr. Dy Tioco took a detour into music, working at PolyEast Records (then called OctoArts International) in Artist and Repertoire, where he managed local releases of global labels like Virgin, Chrysalis, and RCA.

It had been his dream. Mr. Dy Tioco had a passion for music, and during his application for that first job, his knowledge of the industry impressed the executives at OctoArts International so much that they created a job opening exclusively for him. But after two years, print called him back.

His family already had ties to the industry. His sister had been an account executive at Business Day, the precursor to BusinessWorld. Meanwhile, his father was an advertising executive at the company now known as McCann and Saatchi.

Mr. Dy Tioco joined The Philippine STAR in 1987 as a branch coordinator for classified ads, cutting his teeth in marketing research, and quickly becoming one of the paper’s standout account managers.

One of his most successful projects was a lockout for Sharp in 1990, a term for when all the advertisement in a particular newspaper issue is from a single advertiser. It was not only the newspaper’s first lockout project; it was considered the first of its kind in the industry. It was so successful that it ran annually for 10 years.

In 2000, Mr. Dy Tioco was named advertising director. A dozen years after that, he was elevated to Senior Vice-President for Sales and Marketing.

When BusinessWorld became part of the PMG portfolio in 2015, Mr. Dy Tioco was given expanded oversight. He worked to modernize the brand’s image while preserving its editorial gravitas introducing online video conferences, digital subscription models, and a more dynamic social media presence that helped the outlet reach a younger generation of professionals without diluting its authority.

In terms of leading the marketing team, he described his management style as more of a coach than an instructor.

“I consider myself a coach with a pride of athletes, and I train them to be tough and No. 1 in the field. I build them like a champion team,” he had previously said of his management style.

“More than meeting targets and group goals, all the qualities and skills to become an effective leader boils down to one thing: It’s all about finding one’s motivation and working on that motivation to achieve success in life,” he added. “The success of the common goal comes easily because everyone is motivated. That to me is the core of leadership. Motivating the human spirit to defy all odds.”

A year later, he was named Executive Vice-President for Sales and Marketing for both titles.

Under Mr. Dy Tioco’s leadership, PMG remade itself into one of the country’s top digital platforms. What began as a post-EDSA broadsheet grew into a multimedia operation spanning mobile, web, live events, television, and outdoor. He applied the same digital-first sensibility to business daily BusinessWorld, Filipino tabloid Pilipino Star Ngayon, Cebu broadsheet The Freeman, and a new slate of digital-native brands.

“It was still early days when The Philippine STAR debuted its newspaper app in 2013. The app, I recall, integrated an early augmented reality feature to the delight of our followers,” he recalled, writing for the STAR in 2022.

“Our foray into apps, digital editions and augmented reality — despite lagging connectivity issues then — emboldened us to produce more multimedia formats, from video documentary series to the creation of TV shows under the brand Philstar TV, which showcased TV shows inspired by our sections. We were the first and only newspaper to produce a miniseries that led to a movie through which we boldly partnered with the country’s leading network.”

It was during those early days that he saw the value in developing in-house creative and production teams that were capable of producing videos and creating events. The choice to create television-styled content was a strategic one. By bringing STAR sections to screens, they created touchpoints for audiences who might never pick up a broadsheet, positioning the brand as a content engine, not just a publisher.

Mr. Dy Tioco also realized then that the key to the digital transition is not the discarding of old conventions in favor of what is new, but the evolution of what made the printed legacy so influential in the first place.

“Our journey to a more digitized world has made us hone our expertise and expand our influence. We are able to do all of this because of a very important strategy: keeping the printed format healthy and sustainable,” Mr. Dy Tioco noted.

Unlike the fragmented attention of scrolling through feeds, print demands and rewards deeper engagement. Mr. Dy Tioco cited analytics from July 2022 that show readers of The Philippine STAR and its sister publications spend an average of over 41 minutes per issue, far exceeding the one to five minutes people spend on most news websites.

Even during the most restrictive months of the pandemic, readers sought out their newspapers, underscoring a level of loyalty and routine digital alone could not replicate. Mr. Dy Tioco saw this as the validation of a hybrid model: one where print and digital complement one another, rather than cannibalizing each other’s growth. The print readership of PMG titles, he pointed out, includes decision-makers and loyal readers who still read from cover to cover.

“Shrinking print ad budgets notwithstanding, The STAR’s share of the market continues to grow, thanks to the trust of our readers and advertisers,” he said.

“We brace ourselves for newer waves of digital transformation that will further shape our world, but we will continue fighting for our place as a credible and trusted source of news and information. For this reason, we at The Philippine STAR look forward to unveil our next pages while keeping our core — truth and nothing but — strong,” he added.

Transitioning into an unknown future

The journey of PMG into the digital frontier was neither seamless nor without risk. Since the advent of the internet, there has been no small number of well-established publications that saw their final issues printed.

Advertising, the lifeblood of newspapers everywhere, was migrating online; and journalism had to function not just as storytelling but as a digital product. Newsrooms had to become competitive advertising platforms, capable of monetizing attention in a digital economy governed by clicks, algorithms, and engagement metrics.

Even today, the Reuters Institute finds that online and social media, mostly Facebook and YouTube, remain the most popular sources of news in the Philippines for the urban population. TV and radio news, while still important for those who are not online, are seeing continued decline over the last five years. Only 18% of Filipinos pay for online news.

Yet, the company pulled it off, and Mr. Dy Tioco came away with quite a few accolades that acknowledge his efforts.

Recognized for his outstanding leadership and dedication to his job, he was named Asia’s Top Outstanding Netizen Marketeer of the Year at the 2023 AMF Asia Youth, Women Netizen Marketing Excellence Awards.

“Every award validates everything that we have been doing as right. This award is really special because of its international recognition,” he had said on receiving the award.

He had also received honors and acclaim from agencies and award-giving bodies like the 37th Agora Awards, where he was named the recipient of the Outstanding Achievement in Marketing Communications award. His alma mater, the University of Santo Tomas, awarded him with the Outstanding Thomasian Alumni (TOTAL) award for his work in the media industry. He was also listed as one of the recipients of the 2016 CEO Excel Award from the International Association of Business Communicators (IABC). In 2020, he led the Philippine Marketing Association as its president.

“More than the Filipino as a world-class marketer, I am proud of how the Asian community has recognized our efforts to make The STAR thrive amidst the challenges of the print industry and the pandemic,” he said.

Technology continues to evolve, however, and trailblazers like Mr. Dy Tioco are seldom awarded time to rest. Artificial intelligence is revolutionizing the landscape once again, and is raising all-new questions regarding the future of journalism and media.

“I have my sights set on how The STAR Group will be by 2030. With a new generation of tech coming in, all I can say there’s a whole lot of exciting possibilities and opportunities poised for The STAR,” Mr. Dy Tioco said.

RLC to open tournament-level pickleball center by 2027

ROBINSONS LAND CORP. conducts a groundbreaking ceremony for its upcoming Helios Pickleball Center on July 17. — ROBINSONS LAND CORP.

GOKONGWEI-LED PROPERTY developer Robinsons Land Corp. (RLC) is constructing Asia’s first tournament-level pickleball center at Bridgetowne Estate in Pasig City, targeted for completion by 2027.

An investment of up to P1 billion has been allocated for the construction of the Helios Pickleball Center, a joint venture between RLC and Kosmas Athletic Ventures Corp.

The center is the debut project of Robinsons Sports, Entertainment, and Recreation (SER), a new RLC business unit focused on building venues and experiences aligned with the country’s growing sports and entertainment landscape.

“This marks the beginning of a new chapter for Robinsons Land, with the launch of Robinsons SER, our new platform focused on building vibrant, experience-led destinations across our portfolio,” RLC President and Chief Executive Officer Mybelle V. Aragon-GoBio said during the groundbreaking ceremony on Thursday.

“Through Robinsons SER, we are expanding the way our spaces connect with people, not just through real estate, but through curated experiences that reflect evolving lifestyles and customer preferences,” she added.

The Helios Pickleball Center is the first of several sports facilities in Robinsons SER’s development pipeline.

“We’re also looking into adding more sports-focused facilities to our malls that will complement not only food and beverage and retail offerings, but also create 360-degree lifestyle destinations,” RLC Chief Strategist Ramon Rivero said during a briefing after the ceremony.

The eight-story Helios Pickleball Center will span over 17,500 square meters of gross floor area and offer 25 professional-grade courts, including a stadium court for major events and tournaments.

It will feature six floors of sports and recreation facilities, including a gym, sports clinic, and food and beverage outlets. Two basement levels will be allocated for parking.

RLC is positioning the center as a potential venue for the Professional Pickleball Association (PPA) Tour, which would allow the Philippines to host international tournaments.

Pickleball, which combines elements of pingpong, tennis, and badminton, is among the world’s fastest-growing sports. In Asia, awareness of the sport has been rising by 60% each year, according to Kimberly Koh, managing director of United Pickleball Asia.

Bridgetowne Estate, RLC’s mixed-use development in Pasig, may also host an international pickleball tournament after the center is completed, Ms. Aragon-GoBio said.

“One of the things Kosmas considered was the estate’s readiness to accommodate players,” she told reporters on the sidelines of the event.

She also noted the estate’s proximity to RLC’s key hotel properties, including The Westin Manila, Crowne Plaza Manila Galleria, and Holiday Inn & Suites Manila Galleria in Mandaluyong City.

The Helios Pickleball Center is part of RLC’s Vision 5-25-50 strategic roadmap, which includes expanding ecosystem initiatives in sports, entertainment, and recreation.

“It allows us to create additional revenue streams and address evolving consumer preferences,” Ms. Aragon-GoBio said.

RLC shares closed flat at P14.20 apiece on Thursday. — Beatriz Marie D. Cruz

PLDT Global eyes TinBo user growth through partnerships

PLDTGLOBAL.COM

PLDT Inc., through its unit PLDT Global Corp., is confident in increasing the user base of its one-stop-shop platform, Tindahan ni Bossing (TinBo), a company official said.

“We are looking at further collaboration. TinBo is now reaching over a half-million-user base across the globe, with the Middle East as our strongest base,” PLDT Global Chief Operating Officer Edith Cudiamat told Money Talks with Cathy Yang on One News on Thursday.

PLDT Global Chief Executive Officer Albert Villa-Real said the company is now working on introducing partnerships and platform upgrades to attract and serve more users.

TinBo, PLDT Global’s one-stop gateway, offers an expanded suite of digital services.

PLDT Global is the technology services arm of PLDT, providing communication infrastructure and digital platforms to its global network of carriers.

In May, PLDT Global entered into a partnership with US-based financial technology company Venio to enhance its digital services and expand its market reach.

Under the partnership, Venio will promote and facilitate the availability of the TinBo app in key international markets, including the United States, Canada, Australia, and the United Arab Emirates.

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

Transforming PhilSTAR Media Group into a multimedia powerhouse

Founded in July 1986, The Philippine STAR was born out of a call for press freedom after the People Power Revolution. What began as a single publication later grew into a network under the PhilSTAR Media Group (PMG), with six successful titles and several digital brands.

Since then, PMG has stood as one of the country’s most enduring and adaptable media organizations, remaining relevant and trusted in the modern media landscape. Behind many of the group’s initiatives, PMG Executive Vice-President Lucien C. Dy Tioco has helped lead the company’s growth while staying rooted in its mission to share the truth.

By the time Mr. Dy Tioco joined in 1987 as a branch coordinator for classified ads, The STAR was already laying the groundwork for national prominence. He rose through the ranks and was named advertising director in 2000. In 2012, he assumed the role of senior vice-president for sales and marketing at The STAR. When PMG expanded to include BusinessWorld in 2015, he took on a parallel position. A year later, he was appointed executive vice-president for sales and marketing across both flagship dailies and their supporting brands.

Despite the industry’s transformation due to the prominence of digital media, he has guided PMG’s publications from their newspaper roots into multimedia content providers. Under his leadership, PMG also pushed for advocacy-based campaigns that go beyond the traditional sharing of information.

“I work in an institution where I have the chance to implement positive change, where I can utilize its platforms to do those things,” Mr. Dy Tioco previously said about PMG in a statement.

Early adoption of digitalization

While the coronavirus disease 2019 (COVID-19) pandemic pushed most newsrooms to go digital, PMG had already begun laying down its digital roadmap years earlier.

In 2008, The STAR was already investing in multimedia innovation with “Engage,” a platform that allowed advertisers to connect directly with audiences through branded content.

By 2013, the group rolled out The Philippine STAR mobile app, even experimenting with augmented reality (AR) at a time when mobile internet in the country was still developing. The early step in digitalization allowed the organization to test and grow its multimedia capacities by producing video documentaries, web series, and eventually television programs.

“Newspapers, in general, have largely been guided by set ways and ideals. But The STAR was destined to be different the moment it started,” said Mr. Dy Tioco.

Single/Single, for instance, is a television miniseries produced by PMG and Cinema One. Though primarily a love story, the series promoted financial literacy to younger viewers — a theme rarely tackled by scripted drama. It ran for two seasons, became a movie, won multiple awards, and emerged as one of PMG’s biggest brand collaborations.

The group later expanded into television with Philstar TV, producing shows like Modern Living TV, Wheels, Let’s Eat, and Trippies, which aired on networks such as the ABS-CBN News Channel, CNN Philippines, and One News. These programs often spun off from the paper’s lifestyle and automotive sections, turning traditional newspaper content into video programming.

By 2014, PMG established its own content creation arm, giving it a headstart just as the country’s advertising market began shifting online. The company has since produced viral campaigns, branded content series, and “viewtorials” across social media platforms, tapping into audiences that primarily consume online media.

The company’s out-of-the-box approach reflects the broader direction Mr. Dy Tioco has led it toward over the years. The Philippine STAR has evolved into a multimedia powerhouse, with a footprint that spans digital, mobile, TV, events, and even digital billboards.

“The STAR still prevails to this day. Our digital platforms, social media pages, multimedia capabilities, even our printed newspaper, remain strong and relevant,” he explained. “What drove us to where we are now is our firm belief that a newspaper has a role to serve no matter how the landscape has changed and will continue to change.”

Creating groundbreaking multimedia content

When COVID-19 hit, PMG’s foundation in digital work helped it stay on top. With many people confined to their homes and glued to their screens, the group shifted its content and events online. Journalists and editors kept the newspapers running under extreme conditions, while other teams moved quickly to mount online conferences, livestreams, and digital events that maintained a strong connection with audiences.

During this period, the group launched PhilSTAR L!fe, a lifestyle platform tailored for mobile users. It quickly rose among the most visited lifestyle sites in the country, covering culture-focused content for younger readers.

The executive vice-president also emphasized the value of simplifying subscriptions for both physical newspapers and digital formats through platforms where readers can choose between e-paper and print editions.

PMG continued its digital growth by launching Multiverse PH in 2023, a news site dedicated to covering emerging technologies. The platform features explainers, interviews, and news reports that aim to close the gap between awareness and adoption of emerging technologies.

“Through this platform, we will learn about new technologies that will have an impact on our daily lives and how we can better embrace them,” said Mr. Dy Tioco.

In 2024, the group introduced Philstar NEXT, which formally launched through an event called “Pro Future: AI for Life.” The summit gathered local and international experts, government officials, business leaders, and technology practitioners to discuss the potential of artificial intelligence to improve productivity, support economic growth, and shape future industries.

“Philstar NEXT is the evolution of The Philippine Star, transitioning from storytellers to creators of immersive experiences, transformative narratives, and impactful learning that resonate with today’s ever-changing audience,” Mr. Dy Tioco said in his opening remarks during the event.

Earlier this year, The STAR partnered with startup JuanCast to create “Star Cast Exclusives.” The collaboration introduced a new approach to audience engagement by allowing fans to participate in polls and contests across multiple categories. Through its interactive system, users can show support for their favorite artists and personalities while earning rewards using a built-in virtual currency system called Stars and Suns.

Mr. Dy Tioco called the move a leap of faith, describing the collaboration with a young startup as a strategic step to explore new ways of reaching and engaging audiences.

“Entertainment has always been part of PhilSTAR’s content spectrum, and we feel that ‘Star Cast Exclusives’ is one way of keeping the brand relevant to its younger audiences,” he said.

Aside from digital projects, PMG remains involved in cultural productions. Together with Viva Communications and Newport World Resorts, and in collaboration with the Philippine Educational Theater Association, the group is supporting the stage adaptation of the 1984 hit movie Bagets. Titled “Bagets: The Musical,” the show is scheduled on Jan. 23, 2026, at the Newport Performing Arts Theater.

Advocating for economic and social change

Beyond news, PMG now invests heavily in community-driven initiatives, allowing the group to stay relevant to younger audiences and different sectors of society.

In 2019, the organization launched Women Today, an annual conference that highlights women leaders and promotes discussions on mentorship and equality. Two years later, PMG introduced She Slays, a youth-centered version of the event focusing on empowerment and building confidence among younger women.

One of the group’s biggest projects to date is Nakakalocal, an advocacy program that supports Filipino micro, small, and medium enterprises (MSMEs). Since its launch in 2022, the program has supported more than 1,250 MSMEs across the Philippines.

“I wanted to create something that could help Filipinos recover from the pandemic,” Mr. Dy Tioco recalled. “Nakakalocal was born out of the spirit of bayanihan, with a mission to uplift local businesses, share their stories, and help build the nation by embracing Pinoy-made products.”

Nakakalocal has since grown from a simple support program into a nationwide campaign that includes bazaars, mall pop-ups, forums, and online training. It has also partnered with private groups to provide MSMEs access to branding guidance, financial literacy sessions, and mentorship from established business leaders.

One of the earliest efforts under Nakakalocal was the “Ready, Set, NeGOsyo” event, which offered step-by-step advice to new entrepreneurs. Later, the “CelebPreneur Forum,” headlined by Judy Ann Santos and Ryan Agoncillo, inspired food business owners through shared experiences and tips. Mall events, including vendor pop-ups and product showcases, helped businesses reach customers directly.

By the end of its first year, Nakakalocal held a major event called “NakakaBazaar: The Grand Nakakalocal Fair” at SM Mall of Asia. The fair brought together MSMEs and Philippine pop acts like BGYO and BINI in one venue.

In 2023, the campaign expanded through a partnership with SM Supermalls. Together, they rolled out the “Bida ang Local” caravan, holding events in Baguio, Batangas, Iloilo, and Davao. That same year, the project launched a national talent search with VIVA, aiming to discover local performers and match them with business-driven opportunities.

Aside from showcasing products and talents, PMG also introduced the Kasosyo bazaar series and EduSerye learning sessions. These programs provided MSMEs with tools for business improvement, including pricing strategies, content marketing, and digital selling techniques.

A year later, Nakakalocal shifted its focus to key industries such as fashion, food, and heritage. The G3n Y to Z Fashion Show and Fair featured Filipino designers and stylists, while Food Fest and Culture Fest highlighted regional cuisines and crafts from different parts of the country.

To help small brands improve their digital presence, PMG launched “Spark Up, Scale Up,” a branding workshop in partnership with Globe. The session focused on online visibility, customer engagement, and practical content strategies.

Besides Nakakalocal, PMG also launched Project KaLIKHAsan, a sustainability drive promoting environmental awareness through innovative ideas and creative solutions. The project takes its name from the Filipino words kalikasan (nature), likha (to create), and samahan (collaboration).

“Through this campaign, we have reached thousands of Filipinos to educate them on environmentally conscious choices, promote sustainable lifestyles, and inspire greater action,” Mr. Dy Tioco explained.

Since its launch, Project KaLIKHAsan has featured a mix of on-ground events, media coverage, and partnerships.

In 2023, PMG partnered with Robinsons Malls to bring sustainability-themed events directly to the public. The series began with a launch at Robinsons Magnolia, focusing on sustainable food practices. The event included cooking demonstrations by local chefs and talks on reducing food waste and using locally sourced ingredients.

In March 2024, “Fashion Forward” at Robinsons Galleria promoted ethical fashion through upcycling workshops, a clothing swap station, and an exhibit of local brands using recycled materials. It also gave visitors hands-on experience with more sustainable clothing options.

By June 2024, Project KaLIKHAsan moved into the arts with “LIKHA: Art for a Change.” The visual arts competition featured works made from biodegradable or discarded materials. A side activity introduced participants to natural paint-making methods used by the Talaandig Indigenous Tribe of Bukidnon.

Later, in September 2024, the project held the “Grow and Glow Plantita Fair” in Laguna to discuss low-waste gardening, composting, and plant care. Local sellers and community gardeners participated in booths and workshops promoting practical ways to green up home spaces.

Most recently, PMG launched “Sine-KaLIKHAsan,” a short film competition encouraging young filmmakers to create stories about recycling, climate change, and environmental justice. Finalist entries will be screened in selected Robinsons Movieworld cinemas across the country.

Aside from mall activations, PMG also supports grassroots efforts such as PSN’s “Wais sa Kalinisan sa Iyong Barangay.” The group conducted a clean-up and recycling awareness campaign in partnership with the Quezon City government. The event also introduced youth participants to citywide recycling efforts like the Trash to Cashback Program and Kilo/s Kyusi.

“Projects like this show how environmental messages can go beyond newsrooms and reach barangays,” Mr. Dy Tioco said. “It is not enough to report about climate change. We have to be part of the conversation and the solution.”

For the executive vice-president, the mission for community building goes beyond profit as PMG strives to “drive meaningful transformation and cultivate enlightened mindsets.” — Mhicole A. Moral

BPI net income climbs to P33 billion in 1st half

BPI/BW FILE PHOTO

BANK of the Philippine Islands (BPI) saw its net income increase by 7.8% year on year in the first semester as it saw strong revenue growth despite higher expenses.

The listed bank’s net profit went up to P33 billion in the first half from P30.6 billion in the same period in 2024, it said in a disclosure to the stock exchange on Thursday.

Its financial statement was unavailable as of press time.

BPI’s total revenues rose by 14% year on year to P92.6 billion in the six months ended June.

Broken down, net interest income increased by 16.2% to P71.2 billion, which came on the back of a 8.3% growth in its average earning asset base.

Net interest margin expanded by 32 basis points (bps) to 4.58%, it added.

Non-interest earnings likewise grew by 7.4% to P21.4 billion in the first half, driven by fee income from its credit cards, insurance, and wealth management businesses.

Meanwhile, operating expenses rose by 11.7% to P42.7 billion in the six-month period due to technology and business volume-related costs, as well as manpower structural increases.

Still, BPI’s cost-to-income ratio improved by 96 bps to 46.2% as revenue growth outpaced the increase in its expenses.

The bank also set aside P7.3 billion in provisions in the first half, up by 141.7% from the year-ago level.

Its nonperforming loan (NPL) ratio was at 2.25%, with NPL coverage ratio at 97.1%. “Based on BSP (Bangko Sentral ng Pilipinas) Circular 941, the bank’s NPL coverage ratio translates to 123.8%,” it added, referring to an issuance that amended regulations on past due and nonperforming loans.

BPI’s gross loans expanded by 14.1% year on year to P2.4 trillion at end-June, driven by “strong growth” in non-institutional loans.

On the funding side, total deposits rose by 6.5% to P2.6 trillion from a year ago. Current and savings account or CASA deposits were at P1.6 trillion, up by 2.8% year on year and making up 62.4% of the total.

The bank’s loan-to-deposit ratio was at 90.9%.

BPI’s assets grew by 9.3% year on year to P3.4 trillion as of June.

Total equity was at P453.5 billion, up by 11.5% year on year.

Its common equity Tier 1 (CET1) ratio was at 14.5% and its capital adequacy ratio (CAR) stood at 15.3%, both well above the minimum 6% CET1 ratio and 10% CAR required by the BSP.

BPI’s shares went down by 70 centavos or 0.58% to close at P119 each on Thursday. — Aaron Michael C. Sy

Globe starts transition of 3,000 cell sites to renewable energy

GLOBE.COM.PH

AYALA-LED Globe Telecom, Inc. said it has started shifting more than 3,000 cell sites and other low-energy utilization facilities to renewable energy (RE) as part of its net-zero goal.

In a media release on Thursday, Globe said these cell sites are in Metro Manila and Region IV-A, with the full transition to renewables expected to be completed by 2028.

The listed telecommunications company said the initiative forms part of its strategy to accelerate its net-zero ambition. Globe is also the first telecommunications and digital service provider in the country to adopt the government’s Retail Aggregation Program (RAP).

RAP allows multiple electricity end-users to combine their power demand to meet the 500-kilowatt threshold required to directly negotiate with licensed retail electricity suppliers.

Globe said the gradual shift of its sites to renewable energy is expected to reduce greenhouse gas emissions by 5.5 million kilograms per year, while supplying 80 million kilowatt-hours of electricity annually from renewable sources.

The company added that the move follows its adoption of sustainable and green energy across 33 high energy-utilization facilities — 22 of which are supported through power purchase agreements with ACEN Renewable Energy Solutions (RES), the retail electricity supply unit of ACEN Corp.

RAP also enables Globe to decarbonize its operations and reduce its overall environmental impact.

“We are grateful to the Department of Energy for leading the renewable energy transition and to the ERC (Energy Regulatory Commission) for enabling us to transition our smaller sites,” Globe Chief Sustainability and Corporate Communications Officer Yoly C. Crisanto said in a media release.

The partnership also supports the government’s goal of increasing the share of renewables in the country’s energy mix to 35% by 2030 and to 50% by 2040.

“Through this latest initiative, Globe operationalizes its climate action strategy by sourcing RE across more parts of its network infrastructure, as it seeks to maintain its position as the country’s most sustainability-driven network,” the company said. — Ashley Erika O. Jose