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Marcos expects surge in large-scale data center investments after UAE talks

PRESIDENT FERDINAND R. MARCOS, JR. meets with executives of UAE–based DAMAC Digital. — PRESIDENTIAL COMMUNICATIONS OFFICE

PRESIDENT Ferdinand R. Marcos, Jr. expects interest in large-scale data center investments to accelerate following his discussions with executives of United Arab Emirates (UAE)-based DAMAC Digital, which is looking to expand its footprint in Southeast Asia’s fast-growing digital infrastructure market.

DAMAC Digital is studying plans to build what could become the Philippines’ largest data center in Laguna, a project officials said would anchor broader investments in cloud computing and artificial intelligence (AI), according to a statement from the Presidential Communications Office on Wednesday.

Mr. Marcos told executives that the sector would be given priority support, highlighting the administration’s push to attract capital into higher-value, technology-driven industries.

“We are very excited about DAMAC Digital’s planned investment in the Philippines, including what is set to be the largest data center in the country, with up to 250 megawatts (MW) of capacity,” he said in a Facebook post.

“This positions the Philippines as an emerging data center hub in the region. We continue to welcome investments that strengthen our digital economy, create high-quality jobs, and prepare our country for the demands of the future,” he added.

The government expects demand for data centers to rise sharply as digital payments, e-commerce, and AI adoption expand across the region.

DAMAC Digital, the digital infrastructure arm of Dubai-based DAMAC Group, has committed more than $3 billion to Southeast Asia and aims for 250 MW of operational capacity in the region by 2026.

A Philippine project would add to its global portfolio spanning the US, the Middle East, Europe, and Asia.

The discussions took place during Mr. Marcos’ visit to Abu Dhabi, where the Philippines signed its first Comprehensive Economic Partnership Agreement in the region with the UAE.

Officials said the trade deal, alongside potential investments such as DAMAC’s, is expected to attract foreign capital to strategic sectors and support growth as the economy pivots toward digital industries.

DAMAC Digital, originally launched as EDGNEX Data Centres in 2021 and rebranded in June 2025, develops, constructs, and manages data centers for hyperscale wholesale, retail colocation, cloud services, and AI-driven workloads, with a focus on sustainability, innovation, and international connectivity. — Chloe Mari A. Hufana

SMGP plans $300-M perpetual bond sale for refinancing, renewables

SAN MIGUEL GLOBAL POWER

SAN MIGUEL Global Power Holdings Corp. (SMGP), the power generation arm of San Miguel Corp. (SMC), plans to return to the offshore debt market with the issuance of up to $300 million in senior perpetual capital securities to refinance existing obligations and fund renewable energy projects.

In a disclosure to the Philippine Dealing & Exchange Corp. on Tuesday, SMGP said its board of directors approved the offer and issuance of the securities, which will be listed on the Singapore Exchange Securities Trading Ltd.

The company said the proceeds will be used to purchase and redeem its outstanding senior perpetual capital securities issued on Jan. 21, 2020, which carry an initial distribution rate of 5.7%.

Part of the funds will also be used to finance the pre-development of solar and hydropower projects, as well as capital expenditures related to battery energy storage system projects.

Through its wholly owned subsidiary SMC Global Light and Power Corp., SMGP is developing solar power projects with a combined capacity of about 2,670 megawatts across various sites in Luzon and Mindanao. These projects, located in Bataan, Davao, Bulacan, and Isabela, are targeted for completion through 2029.

“For the avoidance of doubt, the net proceeds will not be applied in connection with any of the Corporation’s and its subsidiaries’ existing and planned coal-fired power assets and/or liquefied natural gas assets,” SMGP said.

Standard Chartered Bank was appointed as sole lead manager, while DB Trustees (Hong Kong) Ltd. will serve as trustee. Deutsche Bank Aktiengesellschaft, Hong Kong Branch, was named principal paying agent, calculation agent, transfer agent, and registrar. Latham & Watkins was tapped as listing agent.

SMGP currently supplies about 20% of the national grid, with a total installed capacity of 5,710 megawatts.

On Wednesday, shares of SMC rose 0.06% to close at P85 apiece. — Sheldeen Joy Talavera

Megaworld launches office leasing unit, taps ex-ALI executive as head

MEGAWORLD

TAN-LED property developer Megaworld Corp. has launched a new leasing group as it seeks to aggressively grow its office portfolio across the country.

The new unit, Megaworld Global Offices, will operate alongside the company’s existing Megaworld Premier Offices to help reach its target of two million square meters of leasable office space, the company said in a regulatory filing on Wednesday.

The two teams will focus their office expansions in key growth areas, including the Ilocos Region, Pampanga, Cavite, Bacolod, and Cagayan de Oro.

Megaworld Global Offices will be headed by Francisco Ma. D. Roxas, a former executive of Ayala Land, Inc. (ALI), who brings 30 years of experience in real estate development and property management.

He previously served as the chief operating officer of ALI’s unit Ayala Land Offices, and was instrumental in the growth of the company’s portfolio amid the demand for hybrid-friendly and sustainability-led office spaces.

“We continue to see strong demand for office spaces in the country, even with the rapid emergence of artificial intelligence (AI) and other new technologies,” Megaworld President and Chief Executive Officer Lourdes T. Gutierrez-Alfonso said.

“These digital advancements continue to fuel growth across many industries and create opportunities for finance, IT, and healthcare professionals,” she added.

The company is also targeting more Fortune 500 multinational firms, including startups, to expand its tenant base of nearly 200 companies.

Most tenants are located in major townships that have evolved into cyberparks, such as Eastwood City in Quezon City; Uptown Bonifacio, McKinley Hill, and McKinley West in Taguig City; and Iloilo Business Park.

Megaworld currently operates about 1.6 million square meters of office space across 90 towers nationwide, hosting around 200,000 employees, primarily from the business process outsourcing and corporate sectors.

Its tenants include global companies such as Google LLC, The Coca-Cola Company, Wells Fargo & Company, IBM, Accenture plc, and JPMorgan Chase & Co. 

The company has also been incorporating sustainability features in its properties, with 32 office buildings nationwide certified or registered under the Leadership in Energy and Environmental Design (LEED) program.

In the first nine months of 2025, Megaworld’s attributable net income surged by 16% P15.93 billion, driven by high rental income and sales.

At the Philippine Stock Exchange, Megaworld’s shares closed flat at P2.21 each on Wednesday. — Beatriz Marie D. Cruz

Bistro Group sparks with local concept

PINATISANG MANOK

Applies its lessons from foreign franchises to Siklab

THE Conrad S Maison branch of Siklab — formerly a food hall concept by The Bistro Group — seems to reflect a new pivot to further develop their homegrown brands. While the franchise of the US restaurant Dave & Buster’s that they operate at the Opus mall seats 1,500, due to the play area, in terms of dining, this 260- to 290-seater is the biggest outlet of The Bistro Group to date.

BusinessWorld went to a preview dinner at Siklab on Jan. 7, tasting their Filipino favorites. We particularly liked their Sinilabang Manok (the word siklab means “spark,” so it’s like saying “sparked chicken”), which serves as a version of Bacolod’s inasal (barbecue), that has a very pronounced hit of lemongrass. Their pancit palabok (a noodle dish) can stand toe-to-toe with anybody’s, while their Pinatisang Manok (chicken cooked with fish sauce) is an almost-perfect clone of a heritage fried chicken dish from another restaurant group. Everybody at the table liked their version of bibingka (a steamed rice cake), fluffy like a cake, topped with muscovado sugar, coconut, salted egg, and cheese.

Guia Abuel, chief operating officer of The Bistro Group, said that they had previously launched local brands Siklab and Krazy Garlik in 2014, but had them shuttered in 2018 due to what they thought was their lack of experience in running local brands. After all, The Bistro Group is known for bringing US restaurant franchises here, such as TGI Friday’s (their first) and Morton’s The Steakhouse.

Times have changed, and this Siklab — its largest — is the third branch, after their first relaunch in Shangri-La Plaza mall, then a second branch in Cavite’s Evo City. By the end of the month, Ms. Abuel predicts that they’ll be able to open four more: along Kamagong St. in Makati City, Park Triangle in BGC, Vermosa in Cavite, and at Evia Lifestyle Mall in Las Piñas.

“With the experience we’ve had through the years, we felt that the company is already prepared to come out with a locally conceptualized restaurant,” she said.

“The past few years, we’ve seen successes of local Filipino restaurants. I will not name our competitors, but they were an inspiration for us. We have all cuisines already… but we don’t have a local concept.”

One might think that concentrating on mostly foreign flavors in their decades-long history might prove to be a handicap in making something Filipino, but she says that the systematic operations influenced by their Western counterparts helped them build better. “They have a great foundation of standards,” she said. “It’s an American style of service: friendly, generous.

“We kind of applied these learnings in the way we run our business now, in a homegrown set up,” she said.

On that note, how do they set themselves apart as a Filipino restaurant in the Philippines, counting that most of their experience has been with foreign brands? “There are a lot of good local restaurants, but in terms of execution… I think we can be ahead of them.

“We’re a matured operator. Of course, food is everything, but it’s not everything. It’s the quality of service, the ambiance. It’s a total package.” — Joseph L. Garcia

SPNEC seeks DoE reconsideration of Sta. Rosa solar project termination

PHILSTAR FILE PHOTO

SP NEW ENERGY CORP. (SPNEC) said it is asking the Department of Energy (DoE) to reconsider the termination of its service contract for a solar power project in Sta. Rosa, Nueva Ecija, which experienced delays due to unforeseen circumstances.

“The company is in discussions with the Department of Energy regarding said force majeure claim and intends to request for the reconsideration of the termination,” SPNEC said in a statement to the local bourse on Wednesday.

The company received a notice of termination for the Sta. Rosa service contract, which it had previously flagged as subject to a force majeure claim.

SPNEC won the contract to develop the 280-megawatt (MW) project during the first green energy auction in 2022.

GEA-1 projects are targeted for completion by 2025.

The company cited challenges such as transmission constraints that affected project progress.

“Pending the outcome of said discussions and request for reconsideration, no adverse impact is expected on the overall business, operations, and financial condition of the company,” SPNEC said.

In the same disclosure, SPNEC clarified that it is a separate entity from Solar Philippines Power Project Holdings, Inc., a company currently facing penalties after the DoE terminated several renewable energy contracts.

It said that it “is not the ‘Solar Philippines’ mentioned in the news articles,” although the Leviste-led firm is a stockholder in SPNEC.

Solar Philippines has been fined P24 billion for failing to deliver nearly 12,000 MW of renewable energy over the past two years.

The DoE terminated 33 of its service contracts, accounting for around 64% of more than 18,000 MW of potential capacity.

Responding indirectly to the issue, businessman-turned-politician Rep. Leandro L. Leviste said on Facebook that he will address concerns in the proper forum.

Iginagalang ko ang mga kawani ng gobyerno at tutugon ako sa kanilang mga pahayag sa tamang forum. Paumanhin po sa mga natatamaan, pero ang pinaglalaban ko lamang ay ang katotohanan. Lubos ang aking pasasalamat sa mga nananawagan para sa transparency sa paggamit ng pondo ng bayan,” he said. (I respect workers in government, and I will address their statements in the proper forum. I apologize to those who may feel affected, but what I am standing up for is simply the truth. I am deeply grateful to those calling for transparency in the use of public funds.) — Sheldeen Joy Talavera

Tailor fitting food halls to the locations

COCO FRESH TEA

THE Sundry Food Hall opened last month in Bonifacio Global City (BGC), but more than its numerous food options, the logic behind the operations makes for a more interesting story. It not only took the food hall out of the usual mall location, but also tailor fit its options depending on location. And aside from dining in, customers have the option to order from a variety of restaurants through delivery partners at one go.

The BGC branch, in GSC Corporate Tower, Triangle Drive, BGC, is the concept’s seventh: the others are in España, Taft, Pasig, Commonwealth, Makati, and Parañaque. This branch contains CoCo Fresh Tea & Juice, 24 Chicken, Wann Mann, Bangkok Station, Potato Corner, Big Al’s Cookie Jar, Hearts & Bells, Merry Moo and Louie’s Buko.

The Sundry Food Hall concept was founded by husband-and-wife team Jai Reyes and Josephine Kamiyama as a cloud kitchen during the pandemic. Then since 2024, they pivoted most of the cloud-kitchen branches to dine-in operations.

Each Sundry Food Hall location has a different set of restaurant partners. “We rely a lot on the data, per area, [for] who we think is going to do well,” Mr. Reyes told BusinessWorld. “I guess we learned through experience also. One branch of the same brand doesn’t perform as well in the other branch. We get a lot of data from Grab and Foodpanda. In a particular area or radius, we get their help in suggesting to us what type of cuisines are being searched for.”

The concept is a boon for customers: “You get to eat in a place where you can have various options,” he said. “You can really order from different brands in just one sitting.

“We kind of took the food hall out of the mall, because the delivery numbers do better when we’re right by the roadside with a dispatch window. That’s a huge advantage for our tenants,” he said.

They provide the space and the common area staff. The tenants simply set up their kitchens and provide a kitchen crew. “Lower investment, and faster expansion. That’s what we tell our tenants. We provide the space, where all they need to do is put equipment, and bring their staff.”

At the same time, customers can order from multiple restaurants and pay just one delivery fee.

They are also moving down south, with planned expansions in Alabang and Santa Rosa. In line with the “faster expansion” selling point to their tenants, the move down south, according to him, is so that their tenants can have a footprint south of Manila.

On another note, those who still remember Jai Reyes as the Ateneo de Manila University Blue Eagles basketball player in the 2000s will be pleased to know that he now serves as commissioner for the University Athletic Association of the Philippines (UAAP), the league he once played in.

Asked about his own transition from basketball to business, he said, “All athletes someday get told that it’s time to hang it up,” he said. “I was scared, but just like sports, you just do your work. Apply it, learn from your mistakes, and then move on again.” — J. L. Garcia

MREIT allocates P184M from share sale to township projects

Paragua Coastown — MEGAWORLDINTERNATIONAL.COM

MREIT, INC., the real estate investment trust (REIT) of listed Megaworld Corp., said it has earmarked P184 million from the proceeds of a recent block sale of its shares for ongoing township projects in Bacolod, Cebu, and Palawan.

In its reinvestment progress report, Megaworld said P70.7 million was allocated for the development of Paragua Coastown, its eco-tourism township in San Vicente, Palawan.

The funds, disbursed through its unit Megaworld San Vicente Coast, Inc., would be used for building and land improvements within the township.

MREIT also allocated P63.98 million for its Bacolod projects via Megaworld Bacolod Properties, Inc., covering planned expansions such as malls, offices, and land development.

Meanwhile, P49.5 million was earmarked for The Mactan Newtown in Cebu through Megaworld Oceantown Properties, Inc.

The disbursements were made between Dec. 23 and 31, 2025, MREIT said.

The funds came from the December block sale of MREIT’s 98 million common shares, which raised P1.32 billion. As of Dec. 31, MREIT’s remaining proceeds from the sale stood at P1.14 billion.

In a separate disclosure, MREIT said it has disbursed P380 million between Oct. 1 and Dec. 31, 2025 from a separate block sale transaction of 168.63 million common shares of MREIT in September.

Of the P2.21-billion net proceeds, MREIT earmarked P160 million for The Mactan Newtown, P130 million for Paragua Coastown, and P90 million for its Bacolod projects.

MREIT’s asset portfolio includes office, retail, residential condominium, residential and commercial lots, and hotels, all located within Megaworld townships such as Eastwood City, McKinley Hill, McKinley West, Iloilo Business Park, and Davao Park District.

Kevin Andrew L. Tan, president and chief executive officer of parent firm Alliance Global Group, Inc., said Megaworld plans to inject 250,000 square meters (sq.m.) of new office and mall assets into MREIT this year.

This is in line with MREIT’s goal to expand its asset portfolio to one million sq.m. of gross leasable area by 2027.

In the first nine months of 2025, MREIT posted a 27% increase in distributable income to P2.8 billion, driven by its newly acquired office assets.

Shares of MREIT fell by 0.43% or six centavos to close at P13.90 each on Wednesday. — Beatriz Marie D. Cruz

Dining In/Out (01/15/26)


A whisky masterclass to start 2026

THE Whisky Library, home to Manila’s largest whisky collection, opens the year with a dedicated Macallan masterclass anchored on A Night on Earth: The First Light, a limited-edition single malt inspired by the first sunrise of the year. Taking place on Jan. 21, from 7-9 p.m., the masterclass is guided by The Macallan brand expert Hans Eckstein and is designed as an exploration of how time, place, and tradition shape whisky. The evening features a tasting of four expressions from The Macallan’s A Night on Earth collection: A Night on Earth in Scotland, The Journey, The First Light, and A Night on Earth in Jerez. The series examines how different cultures mark moments of celebration, translating these occasions into whisky through flavor, design, and narrative. At the center of the experience is The First Light, a release inspired by New Zealand, which is among the first places in the world to witness the sunrise that begins the year. The single malt is matured in a combination of sherry-seasoned European and American oak casks, with a portion of ex-bourbon casks, resulting in a profile shaped by balance and layered character. Designed as a structured tasting experience, the masterclass allows guests to engage with the collection through guided discussion and sensory exploration in an intimate setting. The masterclass costs P4,500 net. Limited slots available so reserve through https://tickets.newportworldresorts.com/products/the-macallan-a-night-on-earth-masterclass.


Carmen’s Best unveils new flavors, new milk bar

CARMEN’S BEST has expanded its ice cream product line with new limited-edition flavors and dairy treats. The two new ice cream flavors are: Ube Halaya, a homage to the Filipino classic reimagined as a smooth, sweet ice cream; and Tiramisu, a local twist on the Italian dessert with espresso-infused mascarpone ice cream. The launch of these new flavors also marks a new chapter in the brand’s partnership with HOPE Philippines. When customers buy Ube Halaya and Tiramisu ice cream in pints or scoops, part of the sale goes toward building public school classrooms in different areas of the country, an initiative spearheaded by HOPE Philippines. The two flavors are now available nationwide online at carmensbest.com and in leading supermarkets. They come in exclusive 440 ml pints at P520 each. They are also offered at Carmen’s Best scooping stations in Rockwell, SM North EDSA, Mall of Asia, SM Makati, and Shangri-La Mall for P195 per scoop. Carmen’s Best has also launched the all-new Carmen’s Best Milk Bar, a local gourmet ice cream treat crafted with 100% fresh milk and no artificial colors or sweeteners. It contains 183 calories and provides 12% of the recommended daily calcium intake. It is available online at carmensbest.com, in groceries, and at all Carmen’s Best ice cream stores for P88 per bar or P528 for a box of six. Meanwhile, Carmen’s Best Milk has two new variants: Barista Fresh Milk, crafted to complement coffee, and Salted Caramel Milk. Carmen’s Best has partnered with 7-Eleven to offer convenient on-the-go sizes in stores nationwide.


Pancake House introduces brioche toasts

BELOVED flavors find a new canvas in Pancake House’s Brioche Toasts. Diners can try PB&J (Peanut Butter and Jelly) Brioche Toast (P229); Blueberry & Cream Cheese Brioche Toast (P249), with cream cheese and blueberry swirls, served with banana slices; and the Crème Brûlée Brioche Toast (P299) which has custard layered between two slices of toasted brioche, finished with a caramelized sugar crust, and served with banana slices. They are available at all Pancake House stores for dine-in, takeout, curbside pick-up, and delivery until March 31.


Krispy Kreme presents Chocomania

START the new year on a sweet note with Krispy Kreme Philippines’ latest collection: Chocomania, co-branded with Mars chocolates. This limited-time collection features three chocolate doughnuts inspired by classic Mars favorites, paired with the new Choco Caramel Twix Chiller. The doughnuts are: White Choco Malt topped with Maltesers, a soft chocolate dough coated in white chocolate, finished with crunchy Maltesers and additional white chocolate; Choco Caramel topped with Twix has rich dark chocolate dough loaded with Twix, crushed Graham crackers, and gooey caramel fudge; and Dark Choco Candy, a chocolate donut coated in dark chocolate, drizzled with white chocolate, and topped with M&Ms. Pair the doughnuts with the Choco Caramel Twix Chiller, an iced-blended mix of kreme base, double chocolate syrup, caramel fudge, and graham cracker crunch, topped with whipped kreme, chopped Twix, and a swirl of salted caramel. The Chocomania Collection is currently available until Feb. 28, starting at P80 per donut, available in all Krispy Kreme stores nationwide.


McDonald’s offers P99 McSavers

MCDONALD’S Philippines welcomes 2026 with McSavers Sulit Busog Crispy Chicken Fillet meals that cost P99. Options include the original Crispy Chicken Fillet with the original gravy, the Crispy Chicken Fillet ala King with a creamy sauce, and the recently introduced Golden Curry Fillet with a creamy and slightly spicy and sweet curry sauce. All three are served with extra rice, plus a regular drink. McSavers Sulit-Busog Meals are available through dine-in, take-out, drive through, and delivery.


Jollibee brings back Mix & Match

JOLLIBEE has brought back its Mix & Match option. Starting at P78, diners can pair popular mains and sides. Main options priced at P78 include the Yumburger, Jolly Spaghetti, and one-piece Burger Steak, while P88 mains include the Cheesy Yumburger, Crunchy Chicken Sandwich, and Jolly Hotdog. Side choices include Soda Float, Peach Mango Pie, Choco Sundae, Jolly Crispy Fries, and the newly introduced Iced Mocha. This year, Jollibee Mix & Match is endorsed by the girl group BINI. Jollibee Mix & Match is available nationwide for dine-in, takeout, and drive-through.

BSP 7-day term deposit yields dip

Bangko Sentral ng Pilipinas main office in Manila. — BW FILE PHOTO

YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) seven-day term deposits fell slightly on Wednesday as investors priced in a possible policy easing at the central bank’s first Monetary Board meeting this year.

Total bids for the one-week term deposit facility (TDF) reached P150.07 billion, surpassing the BSP’s P110-billion offer and last week’s P127.6 billion in tenders. The central bank accepted the full P110 billion. The resulting bid-to-cover ratio rose to 1.36 times from 1.16.

Accepted yields narrowed to 4.44% to 4.5149%, with the weighted average rate easing by 0.89 basis point week on week to 4.501%, almost matching the BSP’s key overnight borrowing rate of 4.5%.

Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said the modest decline reflects dovish signals from the central bank, which could cut rates in February.

The BSP is near the end of its easing cycle, but the strong demand may indicate investors locking in yields ahead of a potential reduction, he said.

The Monetary Board has lowered key borrowing costs by 200 basis points (bps) since August 2024, bringing the benchmark to a more than three-year low of 4.5%.

In 2025, the central bank delivered five straight 25-bp cuts. BSP Governor Eli M. Remolona, Jr. has signaled that a further 25-bp cut is possible but unlikely given current economic data.

Local inflation remained benign at 1.8% in December 2025, below the BSP’s 2%-4% target for the 10th consecutive month. Slower economic growth, partly due to weather-related disruptions and cautious infrastructure spending, also supports continued accommodative policy.

External factors could influence future moves. A possible US Federal Reserve rate cut would allow the BSP to ease further while maintaining interest rate differentials that stabilize the peso.

Recent policy reforms and governance measures, including initiatives on anti-corruption and fiscal accountability, have bolstered investor confidence, contributing to strong demand at the TDF auction.

The TDF and BSP bills serve as tools to absorb excess liquidity and guide market rates toward the policy benchmark.

Investors continue to monitor both domestic economic trends and global central bank actions, weighing their implications for borrowing costs, liquidity management and peso stability in the months ahead. — Katherine K. Chan

Filipino SMEs, is your brand positioning on point?

BRAND MARKETING expert Emmanuel “Bingo” Soriano during the podcast. — THE RJ LEDESMA PODCAST

Brand positioning has transformed the world since its beginnings in the 1960s and ’70s. And today, in a new era of online platforms and live selling, it remains as relevant — and powerful — as it has been since its inception. Local brands in particular should take note. Brand positioning has been a chronic blind spot for many Filipino SMEs, according to Emmanuel “Bingo” Soriano, a brand marketing expert with decades of experience in Unilever and as a consultant for brands such as HSBC, Purefoods, and Burger King.

It is because of this gap that Mr. Soriano has established his podcast, The Branding Nerd, and established Brand Con, where he is the founder and Chair. The event was held last November at Newport World Resorts, but I was able to catch up with him on my own podcast to talk about why brand positioning is such an important tool for Filipino SMEs and what they have to gain.

Like Bingo, I’ve had a parallel experience with brand-intense corporations when I was in Procter & Gamble. At the same time, I can appreciate his message as I am today — an entrepreneur with my own businesses. What follows are some of the highlights of my hour-long conversation with one of the country’s top brand marketing minds.

WHAT IS BRAND POSITIONING?
Before anything else, let’s first define what a brand is.

According to Mr. Soriano, “The definition I use actually comes from Al Ries, the father of Laura [Ries, the keynote speaker of Brand Con]. His definition is this: [A brand] is a singular idea or concept that you own in the mind of your prospect.”

Creating this brand — brand positioning — is easier said than done, and it affects every aspect of your business.

“To be able to own that concept in the mind is very difficult to do,” he continued. “That, to me, should be the aspiration of every single brand, to own a concept in the mind of their market and nobody else will own that.”

To achieve this goal he has created a framework, the Brand Building Framework, that he uses with the brands he works with.

“You follow the framework,” he summarized. “You position yourself. You create your identity. You execute consistently across the six P’s (product, price, place, promotions, people, process). If you do that over time, you will own the concept.”

In the full interview, he discussed many companies that have successfully positioned themselves in their respective markets to great effect, from worldwide juggernauts like Netflix and Starbucks, to local darlings such as Jollibee and Cebu Pacific.

“You don’t have to be everything to everybody,” he continued. “As long as you are attractive and clear in the mind of your prospect, you’re going to win. You’re going to be a market leader.”

‘IT’S ALL ABOUT EDUCATION’
Knowledge and expertise about branding is, unfortunately, in short supply in the Philippines.

“In the Philippines,” he said, “there tends to be a misconception of what branding is all about, or at least there’s a limited understanding. So, I wanted to present something more holistic and deeper.”

To this end, he established The Branding Nerd as well as Brand Con to educate Filipino companies about brand positioning — in particular SMEs.

He continued by saying “What I’m discovering is that there’s really a big need for our companies in the Philippines to understand the fundamentals, the foundational understanding of what really branding is all about.”

Through efforts like Brand Con, Mr. Soriano gathered many of the top experts in branding at one educational conference. Last year’s Brand Con had luminaries such as Laura Ries, a marketing expert from TBWA New York and marketing firm Ries & Ries. On the local side, there were marketing experts like the current chairman of the 4A’s, Melvin Mangada, and Norman Agatep, Co-Founder of Grupo Agatep. Bridging the gap between marketers and entrepreneurs, there were Grace Dimacali, founder of Mary Grace Café, and Paco Magsaysay, founder of Carmen’s Best. There’s simply so much to be learned from these branding experts and entrepreneurs.

UNDERSTAND YOUR CUSTOMER
At the core of what Mr. Soriano is teaching these SMEs is understanding your customer — a core tenet of brand positioning.

“One common thing I’ve noticed among Philippine companies is that they don’t understand their customer,” he lamented. “They haven’t really clearly defined who their customer and their segment is.

“One other common thing I’ve noticed is that companies don’t do market research in the Philippines,” he explained. “I have one client who’s been in the business for 37 years — never done research.”

These two observations, of course, are inextricably linked. But the good news is that the tools to understand your customers are within reach. And they don’t have to be expensive either.

From experience, I can understand how SMEs focused on the demands of the day-to-day may be reluctant to spend on marketing research. But Mr. Soriano encourages SMEs to simply engage with customers and talk to them. And this is so true; it’s so easy to engage customers in today’s online world.

He adds, “The purest definition of market research is simply finding out what the customer is looking for. And you’re always in front of customers. You can always ask them.”

THE DIFFERENCE BRAND POSITIONING MAKES
According to Mr. Soriano, “Brand positioning is really understanding what your customers are looking for, the most important factors, whatever segment you’re in, and who are the current competitors, who are the brands out there. When you put them together, you can literally draw a map.”

For Filipino SMEs, brand positioning doesn’t have to be difficult or expensive. It can be as easy as 1-2-3. Marketing experts like Mr. Soriano have even built a framework for SMEs to follow.

“I think the biggest benefit is really understanding the framework,” he says.

The framework he has built even has a workbook that SMEs can follow like a roadmap. And, what’s more, when you draw that map, opportunities arise. Your customers become real, and your business plan becomes clearer.

Your company could lead new segments, like Cebu Pacific did when they entered affordable travel. You could lead mindshare like Jollibee did by owning Langhap sarap. Or you could navigate your brand through change like Netflix did from on-demand video into the streaming age.

For entrepreneurs and SME owners, the difference brand positioning makes is clear. The question is, are you ready to raise your brand positioning game?

Note: In my previous column featuring Wee Community Developers, Inc., I stated that “Colliers recognized WeeComm as the ninth largest real estate developer in the country.” Upon review, I’d like to clarify that Colliers does not issue formal rankings or make such declarations. This note is shared to ensure accuracy and clarity moving forward.

 

RJ Ledesma (www.rjledesma.com) is a Hall of Fame Awardee for Best Male Host at the Aliw Awards, a multi-awarded serial entrepreneur, motivational speaker, and business mentor, podcaster, an Honorary Consul, and editor-in-chief of The Business Manual. Mr. Ledesma can be found on LinkedIn, Facebook and Instagram. The RJ Ledesma Podcast is available on Facebook, Spotify, Google and Apple Podcasts. Are there entrepreneurs you want Mr. Ledesma to interview? Let him know at ledesma.rj@gmail.com.

REIT rule changes may spur listings, asset diversification — analysts

PHILIPPINE STAR/MICHAEL VARCAS

By Alexandria Grace C. Magno

THE SECURITIES and Exchange Commission’s (SEC) 2026 amendments to the real estate investment trust (REIT) rules could encourage more listings by expanding eligible assets and easing capital recycling, according to analysts.

“For existing listed REITs, this provides a clearer regulatory basis to diversify future asset infusions beyond conventional office or retail properties, supporting portfolio resilience,” F. Yap Securities Investment Analyst Marky Carunungan said in a Viber message.

“For potential issuers, the amendments make REITs a more practical capital-recycling tool, allowing companies to unlock value from stabilized assets while retaining operational control. These changes should support a deeper and more active REIT capital market over time,” he added.

In a statement on Friday, the SEC said the amendments are aligned with the objectives of the REIT Act by expanding eligible income-generating assets and allowing unlisted special purpose vehicles (SPVs) and incorporated joint ventures (JVs), consistent with global practices.

Under SEC Memorandum Circular (MC) No. 1, Series of 2026, REITs may own income-generating real estate directly or indirectly. For indirect ownership, a REIT may hold shares in an unlisted SPV formed primarily to own real estate, provided it owns at least two-thirds of the SPV’s voting stock, including through incorporated JVs.

China Bank Capital Corp. Managing Director Juan Paolo E. Colet said the amendments address key regulatory constraints related to eligible assets, reinvestment of proceeds, and indirect property ownership.

“One important change is the expansion and diversification of real estate that can be packaged into a REIT, such as airports, toll roads, telco towers, broadband fiber networks, and data centers,” Mr. Colet said in a Viber message.

“With these amendments plus another interest rate cut, we expect renewed preparations for REIT IPOs and the launch of such offerings starting this year,” he added.

The revised rules further clarify that income-generating real estate includes assets with regular or predictable cash flows such as leases, rentals, tolls, user fees, ticket sales, parking, and storage fees. Covered assets include toll roads, railways, airports, ports, information and communications technology and energy infrastructure, data centers, parking facilities, malls, warehouses, fixtures, and real rights such as usufructs, easements, and leases.

The Philippines currently has eight listed REITs across office, hotel, mall, land, renewable energy, and infrastructure segments.

These include AREIT, Inc., DDMP REIT, Inc., Filinvest REIT Corp., RL Commercial REIT, Inc., MREIT, Inc., VistaREIT, Inc., Citicore Energy REIT Corp., and Premier Island Power REIT Corp.

In a Viber message, AP Securities, Inc. Equity Research Analyst Shawn Ray R. Atienza said the clarified asset scope could broaden the REIT market beyond traditional property developers.

“This could entice select conglomerates and telcos interested in recycling capital to fund more infrastructure projects,” he added.

Mr. Carunungan said infrastructure-related assets such as data centers and telecommunications facilities now have a clearer route to REIT structures, provided income requirements and ownership arrangements comply with the rules.

“In this context, assets such as PLDT Inc.’s VITRO data center portfolio could be structurally well-suited for a REIT platform as part of broader capital-recycling strategies,” he said.

The SEC also extended the reinvestment period for REIT sponsors or promoters to two years from one, starting from the receipt of proceeds from the sale of REIT shares or income-generating real estate to the REIT.

Reinvestment options include equity investments, loans, debt purchases, or repayments related to real estate or infrastructure projects in the Philippines.

REITs investing through unlisted SPVs or JVs must ensure that these entities distribute at least 90% of distributable income to the REIT and other shareholders before the REIT pays dividends. Failure to comply will be considered a breach of the REIT’s 90% dividend payout requirement.

Mr. Atienza said the longer reinvestment window could support more REIT listings by easing pressure on sponsors to immediately redeploy capital.

“Although, the drawback is a possible delay in dividend growth that could lessen the appeal of the asset class,” he noted.

The revised rules also redefine public shareholders to promote broader ownership and strengthen governance. Investors with vested interests or influence — including sponsors, promoters, affiliates, and key officers — are excluded from the public float count.

Public shareholders are defined as those without “substantial influence,” which the SEC considers as direct or indirect ownership of 10% or more of REIT shares. The exclusion also covers investors with less than 10% ownership who can influence management or operations, including immediate family members of directors, officers, or principal shareholders living in the same household.

Separately, the SEC issued another memorandum extending discounted filing fees for micro, small, and medium enterprises (MSMEs).

SEC MC No. 2, Series of 2026 extended the 20% discount on corporate registration fees for MSMEs until March 31, from Dec. 31, 2025.

The 50% discount on securities registration fees for MSMEs tapping the capital market, under SEC MC No. 8 of 2025, remains effective until June 30, 2026.

MSMEs are classified under Republic Act No. 9501, or the Magna Carta for MSMEs, based on asset size: up to P3 million for micro enterprises, up to P15 million for small enterprises, and up to P100 million for medium enterprises.

For capital stock increases and securities registration filings, applicant firms must submit a signed certification from the president or treasurer confirming MSME qualification, excluding the value of land on which offices, plants, and equipment are located.

“Except for agribusiness corporations filing for the registration of securities pursuant to SEC MC No. 8, s. 2023 (SEC FARMS), an applicant must have a paid-up capital of P25 million,” the memorandum said.

Actor-director Timothy Busfield jailed on child sex abuse charges

TIMOTHY BUSFIELD in a scene from Entourage.

ACTOR-DIRECTOR Timothy Busfield surrendered to authorities in New Mexico on Tuesday to face child sexual abuse charges, accused of inappropriately touching two young cast members on the set of a television show he was directing and producing.

According to a criminal complaint and arrest warrant affidavit, the case involves 11-year-old twin boys who reported the alleged contact occurred over a two-year period, when they were aged seven and eight, during production of the Fox crime drama The Cleaning Lady.

Mr. Busfield was an executive producer of the show, which was filmed in Albuquerque, New Mexico’s largest city, and began directing episodes around the end of the second season, in 2022.

The arrest warrant was issued on Monday. Mr. Busfield, 68, turned himself in to the Albuquerque Police Department on Tuesday and was booked into the Bernalillo County jail without bond, said Nancy Laflin, a spokesperson for the district attorney’s office.

In a video posted online shortly before his surrender, Mr. Busfield professed his innocence, called the allegations against him “lies” and said, “I’m going to be exonerated. I know I am.”

“I did not do anything to those little boys,” he said during the 45-second clip.

Mr. Busfield is best known for his prime-time television roles as a White House reporter on the NBC political drama The West Wing, which ran on NBC from 1999 to 2006, and as an ad agency executive on the 1980s ABC ensemble series Thirtysomething.

He is married to actress Melissa Gilbert, a former president of the Screen Actors Guild who gained fame in the 1970s as a child actress on the hit Western family drama Little House on the Prairie.

Mr. Busfield is charged in the complaint with child abuse and two counts of criminal sexual contact of a minor.

According to the affidavit, one of the boys reported multiple instances of Mr. Busfield touching his “private areas” over his clothes during pauses in production. His brother also reported being touched by Mr. Busfield but was less specific, the affidavit said.

In his own interview for the investigation in November, Mr. Busfield acknowledged he probably had physical contact with the boys on occasion, like tickling or picking them up, but in a playful manner with others present, the affidavit said.

Mr. Busfield also suggested a possible motive for false allegations against him, according to the affidavit. Citing information he said he gleaned from the show’s star, Elodie Yung, Mr. Busfield told police that the boys’ mother was upset with him to the point of wanting “revenge” after producers decided to replace her sons in the final season of the series.

Ms. Yung declined to be interviewed for the police investigation, the affidavit said, but had related a similar account of the mother vowing revenge against Mr. Busfield when the actress was questioned by a private investigator for the show’s producer, Warner Bros. Television. — Reuters