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President Marcos Jr. witnesses Globe and Starlink partnership launch for universal connectivity

President Ferdinand Marcos, Jr. graces the landmark launch of Globe and Starlink’s Direct‑to‑Cell satellite service in the Philippines, a breakthrough initiative set to expand digital inclusion and ensure no Filipino is left offline. Joining him in the historic moment are (left to right) Globe President and CEO Carl Cruz, DICT Secretary Henry Aguda, Globe Chairman Jaime Augusto Zobel de Ayala, Hon. Jorge Daniel Bocobo, District Representative of the City of Taguig, and Starlink Senior Partnerships Manager Damien Innes.

Globe Telecom, the number one mobile network operator in the Philippines, is the first to market Starlink’s Direct to Cell (DTC) satellite service in the country and Southeast Asia, and the second in Asia. Starting this year, the historic breakthrough service will allow Filipinos with standard LTE mobile phones to access mobile services such as essential data that offers video, voice and messaging through apps, and text messaging, wherever there is a view of the sky. This historic launch, as witnessed by President Ferdinand Marcos, Jr., is set to transform connectivity in areas where terrestrial coverage is unavailable or difficult to deploy, especially in an archipelagic country comprising over 7,600 islands.

This landmark initiative reflects Globe’s continuing commitment to invest in technologies to support the government’s objective to bring connectivity to all Filipinos. By leveraging Starlink’s constellation of over 650 low-Earth orbit satellites, Globe will help address mobile coverage gaps across geographically isolated and disadvantaged areas (GIDAs), providing access to digital government services through the eGov App. This technology also makes universal mobile connectivity a disaster resiliency essential to ensure that no Filipino is left offline during times of natural disasters. The service is designed to complement existing terrestrial infrastructure, serving as a resilient backup layer when conventional signals cannot reach users.

The satellite-to-mobile service works with standard LTE phones, thus serving the underserved communities and the remaining 4% of the Filipino population who live in areas without any terrestrial coverage. Communities in rural and maritime areas will gain more reliable access to mobile connectivity, supporting communication and digital inclusion. In times of extreme weather or natural disasters, DTC will help maintain essential communication for affected individuals and first responders, strengthening national resilience and supporting business continuity.

“This partnership with Starlink marks a historic step in our mission to build a digital inclusive nation,” said Carl Cruz, President and CEO at Globe. “Connectivity is no longer a privilege — it is a lifeline and a modern‑day utility that fuels individual opportunity and national economic progress. By extending mobile reach through satellite technology, we are ensuring that every Filipino, whether in bustling cities or in the most remote barangays, has access to essential communication. More than using advanced technology, the partnership is about inclusivity, resilience, and giving every citizen the opportunity to thrive in the digital age.”

Starlink’s Direct to Cell service is a satellite-to-mobile wireless service launched by SpaceX that gives connectivity in remote areas where traditional terrestrial service isn’t available, requiring only an LTE phone and a view of the sky. Acting like a cell tower in space, Starlink satellites connect seamlessly across the Starlink network over lasers to any point on the globe, enabling network integration similar to a standard roaming partner. Already connecting more than 12 million customers across 22 countries in six continents, Starlink’s DTC has proven vital in emergencies, delivering millions of SMS messages and Wireless Emergency Alerts when terrestrial networks were down.

Starlink is the world’s largest 4G/LTE coverage provider and partners with Mobile Network Operators all over the world. With Globe as its partner in the Philippines, Starlink Direct to Cell will empower Filipino households, businesses, and communities with accessible, consistent connectivity. This collaboration underscores Globe’s vision of a more connected Philippines where every individual has access to essential communication, regardless of location or circumstance.

 


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Stricter checks needed as 163 RE contracts terminated — analysts

STOCK PHOTO | Image from Freepik

By Sheldeen Joy Talavera, Reporter

THE GOVERNMENT should enforce rigorous screening of energy players seeking to invest in the country’s renewable energy (RE) market to ensure project delivery, analysts said, following the mass cancellation of several contracts that failed to meet development timelines.

“These incidents can be avoided in the future if energy authorities will strengthen due diligence and evaluation of energy companies, and ensure fair competition within the renewable energy market,” Riedo “Rei” Panaligan, president of the Center for Renewable Energy and Sustainable Technology, said in an e-mail interview with BusinessWorld.

Terminated and relinquished contracts over the past two years totaled 163, equivalent to nearly 18 gigawatts (GW) of potential capacity, according to the Department of Energy (DoE). These contracts encompass solar, hydropower, wind, geothermal, and biomass projects.

Solar Philippines Power Project Holdings, Inc., founded by businessman-turned-politician Leandro L. Leviste, accounted for 64% of the terminated contracts, representing more than 11 GW, according to the DoE.

Mr. Panaligan said the DoE should base the number of awarded energy contracts on a company’s track record and its ability to deliver projects on schedule.

“Economic growth was disrupted due to failure of these companies to deliver their committed power plants as scheduled,” he said.

While losing gigawatts of potential capacity may seem a setback, analysts said the cancellations signal the government’s push for greater accountability.

“The cancellations are best understood as pipeline rationalization, not a retreat from renewable ambition. Stronger enforcement at the service-contract stage, paired with better transmission planning, is essential to meeting the Philippines’ clean energy goals credibly,” Isabella Suarez, engagement analyst at TransitionZero, told BusinessWorld via e-mail.

Ms. Suarez added that consistent enforcement improves investor confidence over the medium term, reducing uncertainty and discouraging “speculative capacity hoarding.”

Noel M. Baga, co-convenor of the think tank Center for Energy Research and Policy, said the DoE’s actions “strengthen investor confidence by demonstrating that accountability applies equally to all parties, regardless of size or political connections.”

“The Philippines needs legitimate energy developers with proven capacity to expand our supply, which is fundamental to achieving both energy security and affordability for Filipino consumers,” he said in an interview.

Mr. Baga also said the move sends a clear signal that “the Philippines is open for business to serious investors who will deliver the power our country needs.”

Currently, renewable energy accounts for 25% of the national power mix, with the government aiming to increase the share to 35% by 2030 and 50% by 2040.

Before building a power plant, proponents must secure a service contract from the DoE, granting the right to explore, develop, and utilize RE resources in a given area. Companies may apply directly to the DoE or participate in the government’s green energy auction program, which promotes competitive and transparent procurement to secure the lowest cost of electricity.

The DoE terminates contracts of projects that fail to meet obligations, such as missing work program requirements or failing to secure necessary permits and grid connection studies. The crackdown on inactive projects began in 2024, following repeated delays and non-compliance.

Avril de Torres, deputy executive director of think tank Center for Energy, Ecology and Development, said the government should quickly replace terminated contracts with capable developers while maintaining the goal of affordable electricity.

“The terminations themselves are not the obstacle; they indicate the need to examine why targets are not being met,” she said.

“Failure to act on contracts that have not been honored — or to ensure their capacities are replaced by renewable energy to displace fossil-fuel generation — would hamper the Philippines’ RE targets,” Ms. De Torres added.

Energy Secretary Sharon S. Garin said the department is considering blacklisting firms that fail to deliver on project commitments.

“People should not monetize a privilege given by the government,” she told One News’ Storycon.

ACEN energizes 60-MW solar farm in Pangasinan

ACENRENEWABLES.COM

ACEN CORP., the listed energy platform of the Ayala group, is expanding its renewable energy presence in the Philippines with the energization of its P2.8-billion solar farm in San Manuel, Pangasinan.

In a statement on Monday, ACEN said the 60-megawatt (MW) San Manuel Solar forms part of the company’s strategic expansion following its acquisition of Sinocalan Solar Power Corp. in 2022.

The solar farm, the company’s first in Pangasinan, consists of 108,752 panels that could generate approximately 94 gigawatt-hours of electricity per year, enough to power around 55,000 households.

The facility utilizes ground-mounted photovoltaic panels and is directly connected to the National Grid Corporation of the Philippines through a dedicated 1.8-kilometer transmission line linked to the 69-kilovolt San Manuel Substation, ensuring efficient and reliable delivery of renewable energy to the grid.

ACEN previously said the solar farm has potential expansion capacity of up to 100 MW.

In December 2022, ACEN acquired Sinocalan Solar Power through a deed of absolute sale of shares with Sungrow Power Renewables Corp. and Havilah AAA Holdings Corp.

ACEN said San Manuel Solar is part of its expanding renewables portfolio in the country and underscores the company’s support for the government’s renewable energy targets.

“As ACEN continues to scale its clean energy investments across Northern Luzon and beyond, the company remains focused on enabling a just, inclusive, and sustainable energy transition for the Philippines,” the company said.

Currently, ACEN’s renewable energy portfolio totals 7 gigawatts of attributable capacity, including operational projects, those under construction, and projects backed by signed agreements.

The company manages assets across the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the United States.

Late last year, ACEN announced it had transitioned its entire generation portfolio to renewable energy after completing the divestment of conventional power assets.

At the local bourse on Monday, shares in the company climbed 0.33% to close at P3.06 apiece. — Sheldeen Joy Talavera

ICTSI advances $800-M South Luzon Container Terminal

ICTSI.COM

INTERNATIONAL CONTAINER Terminal Services, Inc. (ICTSI) is progressing with the construction of its $800-million (around P47.6-billion) South Luzon Container Terminal (SLCT) in Bauan, Batangas, which is projected to begin commercial operations by 2028.

The project will be implemented in phases over two years and is set to become one of the country’s largest container gateways, ICTSI said in a media release on Monday.

Once operational, the Razon-led port operator said SLCT will add two million twenty-foot equivalent units (TEUs) to ICTSI’s annual capacity.

“SLCT is designed to make Southern Luzon more connected and competitive. By building capacity closer to manufacturing and export hubs, the project aims to reduce logistics steps, shorten lead times and expand options for shippers,” ICTSI said.

Currently, the site operates as Bauan International Port, primarily serving roll-on/roll-off cargo and completely built-up units. ICTSI said it is being converted into a modern container terminal capable of accommodating ultra-large container vessels.

SLCT will have a controlling depth of up to 18 meters to handle larger ships while improving schedule reliability.

Phase 1 covers marine works and the construction of a 25-meter quay equipped for super post-Panamax quay cranes. Construction is scheduled to begin in May 2026 and continue until September 2027, followed by the delivery and installation of container-handling equipment by August 2027, ICTSI said.

After Phase 1 completion, SLCT will have an initial capacity of 800,000 TEUs. The terminal will feature an 11-hectare container yard, four remotely operated super post-Panamax quay cranes, four rail-mounted gantry (RMG) lanes with eight RMGs, 10 container shuttle carriers, and dedicated operations and engineering facilities.

It will also have a substation and power generation systems to support reliability and operational performance.

For January to September 2025, ICTSI’s attributable net income rose 18.81% to $751.56 million from $632.58 million a year earlier, driven by higher cargo volumes and improved port revenues. Consolidated revenues increased 16.42% to $2.34 billion from $2.01 billion in the same period.

The company attributed the growth to tariff adjustments, increased volumes with a favorable container mix, and higher ancillary revenues from selected terminals.

At the local bourse on Monday, ICTSI shares gained P8.50, or 1.39%, to close at P620 apiece. — Ashley Erika O. Jose

BTr hikes T-bill award as yields on all tenors drop

STOCK PHOTO | Image by RJ Joquico from Unsplash

THE GOVERNMENT upsized its award of the Treasury bills (T-bills) it offered on Monday as rates dropped across the board amid strong demand for safer assets amid the peso’s weakness and geopolitical concerns.

The Bureau of the Treasury (BTr) raised P37.8 billion via the T-bills it auctioned off, higher than the P27-billion plan as the offer was nearly five times oversubscribed, with total tenders reaching P126.59 billion. This was also above the P113.096 billion in bids recorded last week.

The Auction Committee doubled its acceptance of noncompetitive bids for all tenors to P7.2 billion each amid the high volume of tenders and as all tenors fetched average yields that were lower than those seen at the previous week’s auction and the secondary market, the Treasury said in a statement.

Broken down, the government awarded P12.6 billion in 91-day T-bills, above the P9-billion plan, as demand for the tenor reached P35.65 billion. The three-month paper fetched an average rate of 4.723%, inching down by 0.8 basis point (bp) from 4.731% last week. Yields accepted ranged from 4.68% to 4.743%.

The Treasury also borrowed P12.6 billion via the 182-day debt versus the P9-billion program as tenders hit P45.85 billion. The average rate of the six-month T-bill was at 4.817%, easing by 3.3 bps from 4.85% previously. Tenders awarded carried yields from 4.8% to 4.835%.

Lastly, the BTr raised P12.6 billion from the 364-day securities, more than the P9-billion plan, as bids totaled P45.09 billion. The one-year paper’s average yield was at 4.888%, down by 2.8 bps from 4.916% last week. Accepted rates were from 4.875% to 4.893%.

At the secondary market before Monday’s auction, the 91-, 182-, and 364-day T-bills were quoted at 4.7975%, 4.8811%, and 4.9428%, respectively, based on PHP Bloomberg Valuation Service Reference Rates data provided by the Treasury.

“Yields continue to fall, moving lower week on week. All noncompetitive bids were doubled. Bids ranged from 3.96- 5.09 times the offer size. The increase in demand seemed to carry over from last week, likely from the weakening peso and the various geopolitical conflicts and events that took place over the weekend,” a trader said in a text message.

The peso sank to a new record low of P59.46 against the dollar on Jan. 15. It has been trading at the P59 level for most of the month amid a strong dollar, evolving monetary policy expectations here and in the United States, concerns over the US Federal Reserve’s independence, and geopolitical tensions abroad.

Meanwhile, stock markets slid in Asia on Monday after US President Donald J. Trump threatened to slap extra tariffs on eight European nations until the US was allowed to buy Greenland, pushing the dollar down against the safe-haven yen and Swiss franc.

Mr. Trump said he would impose additional 10% import levies from Feb. 1 on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and Britain, rising to 25% on June 1 if no deal was reached.

Major European Union states condemned the tariff threats over Greenland as blackmail, and France proposed responding with a range of previously untested economic countermeasures.

Bets on a potential rate cut by the Bangko Sentral ng Pilipinas (BSP) next month continued to pull T-bill yields down, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The Monetary Board will hold its first policy review for this year on Feb. 19. It has so far slashed benchmark borrowing costs by 200 bps since it began its easing cycle in August 2024, bringing the policy rate to an over three-year low of 4.5%.

BSP Governor Eli M. Remolona, Jr. said earlier this month that they could consider another  reduction next month, but noted that the policy rate is already “very close” to where they want it to be, signaling a nearing end to this current rate cut round.

Expectations that the Fed could pause this month also affected yield movements, Mr. Ricafort added.

Economists expect the Fed will keep its benchmark overnight interest rate in the 3.5%-3.75% range at its Jan. 27-28 meeting, but reductions in borrowing costs are anticipated this year to safeguard the labor market, Reuters reported.

Data released last week showed inflation pressures were stable in December, but consumers faced higher food prices and rents.

On Tuesday, the government will offer P30 billion in reissued 20-year Treasury bonds (T-bonds) with a remaining life of seven years and two months.

The Treasury wants to raise P180 billion from the domestic market this month, or P110 billion via T-bills and P70 billion through T-bonds.

The government borrows from local and foreign sources to help fund its budget deficit, which is capped at P1.647 trillion or 5.3% of gross domestic product this year. — A.M.C. Sy with Reuters

OPM singing champions share a stage for Valentine’s Day

AFTER CHARTING their own paths as singers and musicians, five big names in the Original Pilipino Music (OPM) landscape — Martin Nievera, Sofronio Vasquez, Jed Madela, Jona, and Klarisse de Guzman — are coming together to headline the Valentine’s concert Champions of the Heart.

They will take the stage together for the first time at the Marriott Grand Ballroom at Newport World Resorts, Pasay City, on Feb. 14. Touted as being the biggest Valentine’s show this year, the one-night concert will feature classic love songs, solo performances, and special duets.

Leading the night is Martin Nievera, the “Concert King,” whose romantic ballads and commanding stage presence have made him an enduring icon of OPM. Joining him is Sofronio Vasquez, the first Filipino and first Asian artist to win The Voice USA in 2024.

Also taking center stage is Jed Madela, a power belter renowned for his countertenor range and global competition triumphs that launched his career.

Completing the lineup are Jona, the first grand champion of Pinoy Pop Superstar, and Klarisse de Guzman, referred to by some as the “Soul Diva” thanks to her emotionally rich performances.

For Mr. Nievera, agreeing to the concert was a no-brainer, especially given how rare it is for more than two people to headline a Valentine’s show.

“The combination of us five will allow us to take all that we’ve learned and put it together,” said Mr. Nievera during a press conference on Jan. 15. “I’ve wanted to work with John (Mr. Prats, the concert’s director) for the longest time because I know he’s a hands-on director. He challenges us.”

Mr. Nievera waxed romantic during the press conference. “It’s not about where we’ve won in life or our career. The star of the show is love, relationships, and how you, too, can become a champion of the heart,” he said.

Mr. Vasquez also said that they are done championing themselves. “Mas gusto na namin i-champion ang ibang mga kwento (We want to champion other stories now), like how we are going to gel and connect with each other to sing songs so that people will want to watch,” he said.

As the concert performer who is the newest in the industry, he added that he is excited and open to learning from the other four.

Meanwhile, Mr. Madela teased that while there will be power ballads, intense duets, and biritan (belting), the focus will be on “the storytelling of relatable emotions.”

Jona told the press that it’s a dream concert, but the vibes during rehearsals are light. “Magaan lang talaga sila lahat katrabaho (It’s easy to work with all of them),” she said.

The director, Mr. Pratts, explained the visual motifs of the concert: a castle for the “OPM royalty” headliners, and gold and black with playing cards referring to how “when you love, you gamble.”

“It’s going to be a visually strong show. The narration of it will be different,” he said. “They will be the ones to tell the stories.”

Like the other four, Ms. De Guzman expressed excitement to feel like a singer again after having spent some time focusing on her family.

“I foresee that everyone will relate so much to the songs and even sing along with us. Of course, there will be lots of collaborations among us five,” she said.

Tickets for Champions of the Heart are now available via Ticketworld online and all Ticketworld outlets as well as the Newport World Resorts Box Office, with prices ranging from P3,800 to P13,500. The concert is produced by Full House Theater Company in association with Starmedia Entertainment. — Brontë H. Lacsamana

Jollibee Group says coffee, tea, and Chinese cuisine segments expanded with new stores

JOLLIBEEGROUP.COM

THE JOLLIBEE GROUP said its coffee, tea, and Chinese cuisine segments expanded through new store openings.

According to the company, Compose Coffee in South Korea has opened more than 1,000 stores in the past 18 months, bringing its total gross network to over 3,000 locations.

The Compose Coffee mobile application has recorded 17.59 million cumulative users, including 8.3 million new subscribers following a collaboration with BTS member V, the company said in a statement on Monday.

The company added that Highlands Coffee in Vietnam operates nearly 1,000 stores, employs over 10,000 staff, and serves more than 100 million customers annually.

Highlands Coffee has recorded double-digit same-store sales and transaction growth in recent years, Jollibee Group said.

In the Chinese cuisine segment, the group said Yonghe King opened 35 new franchised stores in December, and Tim Ho Wan in Hong Kong achieved profitability across all stores within six months of Jollibee’s acquisition.

The group also said it opened the first US store for Tim Ho Wan in Irvine within a year of full ownership.

Jollibee Group said it completed its takeover of Tim Ho Wan in January 2025 through its subsidiary Jollibee Worldwide Pte. Ltd., acquiring 166.46 million shares from Titan Dining Group Ltd. for $20.2 million under a share purchase agreement signed in November 2024.

The company said that these developments reflect its continued expansion in its international and specialty segments.

At the local bourse on Monday, Jollibee Group shares fell 0.28% to close at P212.80 each. — Alexandria Grace C. Magno

When intent isn’t enough: Governing inclusion at the board level

STOCK PHOTO | Image from Freepik

(This article builds on a MAP Insights piece published on Jan. 13, “Male allyship in inclusive workplaces,” extending the discussion from leadership intent to governance and outcomes in the Philippine context.)

Much has been said about the importance of allyship in building inclusive workplaces, and rightly so. Encouraging leaders to act with intention, courage, and accountability has helped move the inclusion conversation forward in Philippine organizations. These efforts have expanded awareness, reduced defensiveness, and made it easier to speak openly about gender and power at work.

Yet as this language becomes more widely adopted, a quieter but more consequential question is emerging: When intent is already present, what actually determines outcomes?

For many organizations today, the answer lies less in individual behavior and more in governance. Inclusion stalls not because leaders do not care, but because systems are not designed to consistently translate commitment into results.

Much of the inclusion work to date has focused on personal action — mentoring, sponsoring, speaking up, and modeling inclusive behavior. These actions matter. But they are also fragile. They depend on sustained personal conviction, which can fade under economic pressure, restructuring, or leadership transition.

Governance, by contrast, endures. It ties responsibility to roles rather than personalities. Executives shape strategy and control resources. Managers decide who gets exposure, stretch assignments, and second chances. Boards determine what gets reviewed, rewarded, or overlooked. When inclusion is treated primarily as a leadership virtue rather than a responsibility embedded in these roles, outcomes vary widely.

This distinction is especially relevant in the Philippine context. Local organizations tend to be hierarchical, with authority concentrated at the top and strong norms around respect and deference. Junior employees rarely challenge senior leaders directly, even when inequities are visible. In such environments, progress does not spread through persuasion alone. It spreads through expectations embedded in policy, process, and review.

Another reason intent does not always translate into outcomes is the tendency to focus on visibility rather than power. Many initiatives emphasize representation, mentoring, and participation. While these are important, they do not fully address where the most consequential decisions are made.

Power in organizations shows up in allocation. Who controls large budgets and profit centers? Who is placed in roles with significant operational exposure or enterprise risk? Who is trusted with turnaround assignments — and when things go wrong, who is given room to recover?

A more nuanced pattern emerges beneath strong headline numbers on women’s leadership in the Philippines. While women are well represented in senior roles across many organizations, they are not always equally concentrated in positions that involve large-scale capital deployment, operational complexity, or make-or-break enterprise risk. Mentorship programs are widespread and often effective, yet movement into these high-risk, high-forgiveness portfolios remains uneven. This points less to a lack of advocacy and more to how opportunity, trust, and accountability are structurally distributed.

Organizations that make sustained progress tend to address this through design rather than exhortation. They introduce constructive friction into their systems. Promotion slates that remain homogeneous invite scrutiny. Persistent imbalances in critical roles require explanation. High attrition among women is treated as a leadership issue, not merely an HR statistic. These mechanisms work because they rely on process, not confrontation — an important distinction in high-context cultures like ours.

Any serious effort to govern inclusion must also address care. Gender inequality is shaped not only by workplace decisions but by how work itself is structured. Filipino women continue to carry a disproportionate share of childcare, elder care, and household responsibilities, often with limited institutional support.

Flexible work arrangements have helped, but flexibility without predictability can quietly shift risk back to employees. Late meetings, sudden travel expectations, and career paths that reward constant availability disadvantage those with caregiving responsibilities, regardless of intent. When organizations fail to account for this reality, they inadvertently design inequity into their operating models.

Governing inclusion means treating care as an organizational reality rather than a personal constraint. Predictable schedules, realistic performance expectations, and career paths that allow for pauses and returns are not accommodations; they are design choices that shape who stays, who advances, and who leaves.

Ultimately, inclusion becomes credible when it is governed through outcomes. Boards and senior leaders should be asking sharper questions: Where are women absent from profit-critical roles? How long does advancement take across different portfolios? Who exits the organization after key life transitions — and why? Which leaders consistently build diverse teams, and which do not?

What organizations choose to review — and what they choose to overlook — sends a clearer message than any statement of values.

Allyship has played an important role in moving the conversation forward. The task now is to ensure that commitment is translated into systems that do not depend on goodwill alone. Inclusion is no longer just a cultural aspiration. It is a matter of execution. And execution, as always, depends less on intent — and more on governance.

 

Carolina “Chiqui” Escareal-Go is a member of the Management Association of the Philippines Ease of Doing Business Committee. She is the CEO of Mansmith and Fielders (www.mansmith.net). She is also a marketing anthropologist and consumer behavior strategist. She is a fellow of the Institute of Corporate Directors, and former chair of the Women’s Business Council Philippines. She will open the Mansmith Market Masters Conference on March 17 at SMX Aura Taguig City with the topic: “The Filipino Trust Economy.”

map@map.org.ph

chiqui.mansmith@gmail.com

InLife sells stake in iCare HMO

INSULAR LIFE Assurance Co., Ltd. (InLife) has sold its shares in its health maintenance organization (HMO) subsidiary Insular Health Care, Inc. (iCare HMO) to Singaporean company Value-Based Healthcare PF Pte. Ltd., it said on Monday.

The transaction is still subject to regulatory approval.

InLife said the sale forms part of its efforts to streamline its portfolio to focus on life insurance and corporate solutions.

“This realignment allows us to focus on areas where we can create the greatest value,” InLife Executive Chairperson Nina D. Aguas said.

iCare HMO said in a separate statement that it will now move forward as an independent entity.

“Our mission at iCare HMO is clear: to enable Filipinos to say yes to better health,” said Geronimo V. Francisco, president and CEO of iCare HMO. “At a time when medical inflation continues to put pressure on families and employers, we remain focused on delivering thoughtfully designed and cost-efficient healthcare solutions that make quality care accessible and sustainable.”

iCare HMO was founded in 1991 as a wholly owned subsidiary of InLife. In 2023, InLife entered into a strategic partnership with Value-Based Healthcare that led to the latter’s acquisition of majority ownership of the HMO.

As of end-September 2025, iCare HMO recorded a net income of P355.39 million, the latest Insurance Commission (IC) data showed.

Meanwhile, InLife’s premium income stood at P18.46 billion in 2024, while its net income was at P2.66 billion, based on IC data. — A.M.C. Sy

A postcard travelogue exploration of Japanese culture

A SCENE from Rental Family

By Brontë H. Lacsamana, Reporter

Movie Review
Rental Family
Directed by Hikari
MTRCB Rating: PG
Now showing in Ayala Malls Cinemas

RENTAL FAMILY is a sweet attempt to portray the absurdity and magic behind a service in Japan that offers human stand-ins who can be rented for any occasion. Why do the Japanese feel the need to hire people to act as their loved ones? What is the cultural context?

This film tries to explain all of it — as well as be a heartwarming showcase of human connection in picturesque locations in Japan — and unfortunately taking on both tasks leads to its downfall.

We follow Phil Vanderploeg, an American actor in Tokyo who has lost all purpose in life after ending up in Japan playing token white guy roles in obscure TV projects. His life changes when he is hired for an unusual job with a “rental family” agency, where the employees play stand-in roles for strangers in events like funerals and weddings.

Played by Brendan Fraser, Phil is miserable but also likable, as he has a bighearted quality about him despite bumbling around in a country he barely understands even after seven years of residing there. Rental Family takes us on a journey alongside Phil as he attempts to make sense of it all.

The film unsteadily toes the line between over-the-top and subtle, between believable and farfetched. It should be one of those stories where Japan itself is a character of its own, but it feels like there’s a deeper world beneath the thriving, bustling land of emotionally repressed, quietly eccentric worker-bee types that director Hikari never quite dives into. This is presented by Searchlight Pictures and is technically a US production, so perhaps straightforward storytelling was all that was required for this to get made.

There’s a nice variety in setting, from the big city lights of Tokyo as salarymen go about their day to vibrant festivals where people unwind and display the most colorful aspects of their culture. There are tranquil temples, schoolyard cherry blossoms, and a subplot set entirely in the lush, forgotten countryside, but the variety does not equate to depth. Some parts of it feel like a postcard or a travelogue (or even a postcard travelogue?).

Perhaps for those who are immersed in Japanese cinema and culture, the mix of Hollywood and Japanese sensibilities comes off as typical. What’s great about Rental Family, though, is how Hikari’s polished direction and Fraser’s endearing acting allow the fluff to feel enriching while also remaining accessible to the general public.

Jonsi (yes, of Icelandic post-rock band Sigur Rós) and Alex Somers’ synth-infused score provides a distinct mood that carries us through the narrative. You can never go wrong with Fraser as a perpetually lost yet ultimately kindhearted man who seeks to come by real connections, so the film ultimately succeeds at gaining our sympathy.

One thing that irks me is how ludicrous the story gets at times. Most things that happen in Rental Family are fictionalized, even though the service itself is based in reality. And that inconsistency in authenticity shows — it would probably be fun to watch this movie with someone who studied law, because even to a layperson it’s clear that many of the jobs they take have endlessly glaring potential for lawsuits! There’s just too much deception at play, with glimpses of lines being blurred but never fully explored in an interesting manner with actual consequences, so you just have to suspend disbelief.

There’s a way to portray the magic of rental family services with both sympathy and dignity without resorting to too much whimsy, but this film isn’t able to do that. While there’s a pleasant calm in the way Hikari allows some scenes to unfold, it’s contradicted by a pressure to serve up basic platitudes and trite wisdoms for audiences to come away feeling like they “feel slightly more Japanese” — in short, an obvious attempt to cater to Western tastes.

Haus Talk seeks SEC nod for P2-B bond offering

The Granary in Biñan, Laguna — HAUSTALK.COM.PH

LISTED affordable housing developer Haus Talk, Inc. (HTI) has filed a registration statement with the Securities and Exchange Commission (SEC) for a proposed fixed-rate bond issuance of up to P1 billion, with an oversubscription option of up to P1 billion.

In a disclosure on Monday, the company said the P2-billion bond offering includes fixed-rate, Philippine peso-denominated Series A bonds due in 2029 and/or Series B bonds due in 2031.

Philippine Rating Services Corp. (PhilRatings) assigned a PRS A rating with a stable outlook to the bonds.

The SEC issued a payment assessment on Jan. 15, which Haus Talk settled the following day. Security Bank Capital Investment Corp. will act as lead issue manager, lead underwriter, and bookrunner for the offering.

Haus Talk focuses on developing affordable horizontal and vertical residential projects in select locations across Metro Manila, Rizal, Laguna, and Cavite.

At the local bourse on Monday, Haus Talk shares remained unchanged at P1.04 apiece. — Alexandria Grace C. Magno

Blockchain is not transparency, and ‘101% hack-free’ is not security

AI GENERATED IMAGE/FREEPIK

By Ann Cuisia

RECENT STATEMENTS from the Department of Information and Communications Technology (DICT) and members of Congress about putting the national budget process “on blockchain” were meant to project progress, transparency, and trust. Instead, they revealed two separate but related problems: a weak grasp of cybersecurity, and a shallow view of how blockchain should be used in government.

Both deserve to be discussed plainly.

THE ‘101% HACK-FREE’ PROBLEM
The claim that blockchain systems are “101% hack-free” immediately raised alarms within the IT and cybersecurity community.

No serious security professional speaks that way. No system is invulnerable.

Over the past decade, blockchain ecosystems have suffered repeated, high-profile failures. In February 2025, the crypto exchange Bybit disclosed that attackers gained control of an ether wallet and stole roughly $1.5 billion worth of crypto, one of the biggest known thefts in the sector. In March 2022, hackers stole nearly $615 million from the Ronin bridge linked to Axie Infinity. In August 2021, the Poly Network exploit moved over $610 million in assets across chains. In February 2022, the Wormhole cross-chain bridge was hit by an exploit involving over $320 million in tokens.

Those incidents span different architectures and failure points: wallet control, bridge security, smart contract vulnerabilities, validator/consensus risk, and cross-chain complexity. The details differ, but the lesson is consistent. There is always an attack surface somewhere, especially when systems interact with people, keys, and software.

That is why cybersecurity is treated as risk management. It is about limiting exposure, detecting breaches quickly, minimizing blast radius, and designing for recovery. It is not built on absolute guarantees.

When a government agency uses “101% hack-free” language, it does not reassure experts. It creates doubt about whether risk is being taken seriously.

BLOCKCHAIN AND THE MISUSE OF TRANSPARENCY
Separate from security is how blockchain is being framed as a transparency tool.

When officials say the budget will be “on blockchain,” what is often being described is the archiving or tokenization of PDF documents, sometimes by placing document hashes on a blockchain and calling it transparency.

That approach misses where accountability actually comes from.

Blockchain’s value in governance is not document storage. It is event recording: approvals, releases, obligations created, funds moved, and the rules or authorities that triggered those actions. A document hash only tells you a file existed at a certain time. It does not show who approved a release, why it was approved, what checks were applied, or how money moved after.

Anyone familiar with government processes knows that wrongdoing rarely hides in the PDF itself. It hides in the decision trail, the discretion, the delays, the manual overrides, and the gray areas between steps.

If the goal is genuine transparency, the focus should be on making actions traceable: who acted, when they acted, and what consequence followed.

Documents can live in regular archives. What deserves immutability is the action trail and fund movements.

PUBLIC LAYER-2 NETWORKS AND DATA SOVEREIGNTY
More questions arise with the reported use of public Layer-2 networks such as Polygon for storing document hashes.

Even if only hashes are written on-chain, the infrastructure choice still has sovereignty implications. Public Layer-2 networks operate under governance and economic models shaped by validators, token incentives, and market dynamics that the Philippine state does not control.

Every transaction sent to a public network contributes activity and fees to that ecosystem. Over time, public usage also contributes legitimacy and adoption signals that strengthen the platform’s market position. That is not a moral failure. It is simply how public chains work.

For sovereign processes, the question is whether core public infrastructure should quietly rely on systems whose governance and long-term direction sit outside Philippine control.

GRANTS, INCENTIVES, AND THE ABSENCE OF FREE LUNCHES
Finally, the reported existence of a large grant or donation, allegedly in the range of $10 million, tied to the initial rollout of document minting deserves public scrutiny.

In technology ecosystems, large grants are rarely neutral. They are strategic instruments used to drive adoption, lock in usage patterns, validate platforms through government association, and shape future expansion.

This is not an accusation. It is basic due diligence.

When public infrastructure is built on technology funded by an external sponsor, the government has a responsibility to disclose the terms clearly and ask hard questions early: what obligations follow, what long-term costs emerge after the grant period, and what influence the sponsor gains over standards or future procurement decisions.

Public trust depends on transparent incentives as much as it depends on transparent records.

CHOOSING COMPETENCE OVER CATCHPHRASES
This is not an argument against blockchain. Used properly, it can strengthen accountability, reduce discretion, and make public finance more traceable.

Used poorly, it becomes a collection of buzzwords layered over old processes, accompanied by security claims that sound impressive but collapse under scrutiny.

The public does not need hype. It needs systems designed with care, realism, and technical discipline.

If the goal is genuine transparency, the focus should be on recording decisions and fund movements. If the goal is security, the conversation must acknowledge risk instead of denying it. And if the goal is national resilience, infrastructure choices must be examined through the lens of sovereignty and long-term control.

The Filipino people deserve straight answers and competent systems. Not slogans.

 

Ann Cuisia is a Filipino technology entrepreneur and blockchain advocate with over 20 years of experience in financial technology and digital transformation. She is the founder and CEO of TraXion Tech, focusing on Web3 and blockchain innovations to enhance financial inclusion. She was recognized as a “Blockchain Champion” at the Philippine Block Awards and plays a role in promoting blockchain and fintech solutions in the Philippines. Among her projects are digiCOOP, the first digital cooperative platform in the country, which provides digital banking and financial services to cooperative members, and Gava, a crowdfunding platform for social causes. Additionally, she leads the Kadena Hub, a blockchain accelerator in Mindanao, and participates in organizations like Concerned Doctors and Citizens of the Philippines (CDC PH), contributing to technology-driven national development efforts.