MANILA – Campaigning for the Philippines’ midterm elections kicked off on Tuesday against a fractured political backdrop, heightened by a high-profile row among warring elites that culminated in last week’s impeachment of Vice President Sara Duterte.
The impeachment could see Duterte removed from her post and banned for life from public office and comes amid an escalating feud between her and President Ferdinand Marcos Jr, whose once-powerful alliance propelled them to a landslide election victory in 2022.
Their fallout has sent ripples through Philippine politics, turning the midterms into a high-stakes power struggle and a preview of a likely battle between their camps in the 2028 presidential race.
Mr. Marcos is limited to a single term under the constitution and is expected to groom a successor, while Ms. Duterte would be eligible to run in 2028 if she survives the impeachment.
“The ones fighting in open warfare during the midterms are the same ones who won the historic unity victory in 2022. That’s very significant,” said political analyst and former presidential adviser Ronald Llamas.
“They secured the highest vote count in our history, and yet, almost immediately after winning, they began to unravel. This impeachment is just one episode in an unfolding saga that could rival any Netflix series.”
Up for grabs in the May elections are 317 congressional seats and thousands of local posts. But the biggest battle will be for 12 spots in the 24-seat Senate, a chamber packed with political heavyweights and wielding outsized influence.
HIGH-STAKES CONTEST
For Mr. Marcos, the elections are widely seen as a referendum on his leadership as he seeks to secure a legislative majority to push forward his administration’s agenda.
But the stakes are equally high for Duterte, who faces an impeachment trial in the Senate expected in June. The election for the upper house will feature allies of Mr. Marcos and Ms. Duterte and will effectively decide half of the jurors in that Senate trial.
For Duterte to be removed, at least 16 senators, or two-thirds of members, must vote to convict her.
A survey by independent pollster Pulse Asia last month showed nine of Mr. Marcos’ senatorial bets leading the race, but two Duterte loyalists were in the top 12, keeping the vice president’s camp in contention.
The trial looms as a pivotal moment not just for Ms.Duterte but for the political dynasty of her family, whose influence skyrocketed after father, Rodrigo Duterte, won the presidential election in 2016 on a promise to tackle crime and drugs.
Rodrigo Duterte, 79, remains a formidable political figure and is running for mayor in his hometown Davao City, where his two sons are also running, for vice mayor and for a seat in Congress, hoping to bolster the family’s southern stronghold.
The latest bout of drama erupted on February 5, when the lower house, led by Speaker Martin Romualdez, a cousin of Mr. Marcos, impeached Sara Duterte on charges that stemmed from accusations that included budget anomalies, amassing unusual wealth and an alleged threat to the lives of Mr. Marcos, the first lady, and Mr. Romualdez.
Mr. Duterte has denied wrongdoing, while Marcos, for his part, has said he does not support her impeachment.
Mr. Duterte led opinion polls last year on preferred candidates for the next presidency, so her removal, according to analyst Llamas, could be a boon for Marcos’ chances of deciding his succession.
“If you’re able to convict Sara … in a way, you level the playing field,” he said. “There’s no longer any dominant candidate.” — Reuters
PhilHealth President and Chief Executive Officer Emmanuel R. Ledesma, Jr.
BusinessWorld Insights forum explored next steps in improving healthcare in the country
By Angela Kiara S. Brillantes andJomarc Angelo M. Corpuz, Special Features and Content Writers
Behind thriving communities and a progressing economy are people whose health are well taken care of by a strong healthcare system. This was stressed in the recent BusinessWorld Insights forum, themed “Elevating Philippine Healthcare,” last Jan. 27 at Dusit Thani Manila in Makati, which gathered industry experts and executives to explore further the potentials of the Philippine healthcare sector amid transforming mindsets on health and wellness.
Delivering the keynote address, Emmanuel R. Ledesma, Jr., president and chief executive officer of the Philippine Health Insurance Corp. (PhilHealth), highlighted the sector’s recent successes year after the signing of the Universal Healthcare (UHC) Law, as well as the hurdles the sector currently faces.
“Six years ago, this landmark legislation was enacted, embodying our shared aspiration for accessible, equitable, and quality healthcare coverage for every Filipino. It has made significant strides in expanding coverage to all Filipinos and strengthening local health systems to ensure access to healthcare,” Mr. Ledesma said.
With the UHC in full swing, Mr. Ledesma shared that PhilHealth had made serious progress in expanding health coverage across the country. Last year, it achieved major milestones: increased its financial coverage twice in February (30%) and December (50%); managed a 95% increase in member benefits; enrolled 27 million individuals in the Konsulta Program; and processed P165 million for 15 million claims.
Furthermore, it has introduced 30 new benefit packages, among them breast cancer packages (with subsidy increased by 1,300%), heart attack packages (900%), stroke packages (1,629%), hemodialysis package (144%), and peritoneal package (400%) — all in the span of two years.
Nonetheless, Mr. Ledesma acknowledged serious gaps in resource allocation and accessibility of healthcare services — a challenge that many communities face, especially in rural and isolated areas.
The PhilHealth president stressed the need for building a robust healthcare infrastructure, including more hospitals and more modern equipment; as well as for supporting healthcare workers and professionals by establishing a strong support system for them.
“These dedicated professionals are the backbone of our healthcare systems and comprise the indispensable nuts and bolts of the National Health Insurance Program,” Mr. Ledesma said. “Investing in their welfare is investing in a happier, healthier and more resilient nation, one that stands ready to face any public health challenge with courage and competence.”
Investing in healthcare workers
1 of 3
Panelist for the first panel discussion: Philippine Alliance of Patient Organizations President Karen Alparce-Villanueva
Panelist for the first panel discussion: Medical City President and Group CEO Dr. Stuart Bennett
Panelist for the first panel discussion: mWell and Metro Pacific Investment Corp. Chief Medical Informatics Officer Dr. Raymond Francis Sarmiento
Investing and supporting the people making up and running the healthcare system is among the top actions raised in the forum.
During the first panel discussion, Dr. Raymond Francis Sarmiento, chief medical informatics officer of mWell and Metro Pacific Investment Corp. (MPIC), shared three key things to be considered when investing in healthcare workers: training and capacity-building, equitable distribution of healthcare workers, and incentivization.
Dr. Stuart Bennett, president and group CEO at the Medical City, advocates for a strategy that integrates efficient doctors and tech-driven solutions. For him, such strategy is a faster route in terms elevating healthcare in the country.
“In the short term, we need to have more efficient doctors, we need to leverage technology, we need to have doctors who are working 9-5 in a single hospital or a single location and not spending half their time in traffic. We have to change a lot. If you could reduce the dependency on the highest input cost of healthcare and you can find a different way to deliver the same product, that’s a much better and more sustainable way to do it,” Mr. Bennett said.
For Karen Alparce-Villanueva, president of the Philippine Alliance of Patient Organizations (PAPO), investing in doctors is another key strategy in ensuring efficient and high-quality medical care.
“I think the government needs to invest in educating these doctors because in other countries, they’re subsidized or fully supported by the government. We need to look at retention strategies and incentivizing the doctors, particularly focusing on the primary care physicians so that more will go into primary care.”
Hurdling existing concerns
mWell’s Dr. Sarmiento also shared that there is still much work to be done in improving healthcare accessibility across the country, as recent numbers show.
“Several years ago, eight or nine out of 10 Filipinos die without seeing a doctor. Now it’s improved; it’s now six or seven. But, that’s also an indictment of how accessibility has not significantly improved in terms of being able to cater to a lot of Filipinos,” Dr. Sarmiento said during the forum’s panel discussion.
Moreover, Dr. Bennett of The Medical City pointed out that addressing the impact of non-communicable diseases (NCDs) is essential as they lead to high medical costs and disruptions on patients’ daily lives. While such diseases are inevitable, there are ways to ease its burden on individuals, such as improving patient care management.
“Part of our strategy is really to focus on moving up the value chain in terms of non-communicable diseases and identifying patients that have NCDs earlier in the process and treating them properly. I think that the burden of disease around non-communicable diseases has to be dealt with but that will only happen if the cost of providing that care makes sense,” he said.
Collaboration between sectors remains an important tool in addressing healthcare’s pain points and elevating its potential in the years ahead.
“In terms of opportunities, there are multiple, but it really requires us to be able to work together with different agencies… more so on government, academe, the private sector, making sure that collaboration is there,” Dr. Sarmiento said.
“Through the partnership with not just the private sector, but also other NGOs and the government, we will be able to address some of the gaps in terms of health literacy and improving health-seeking behavior,” Ms. Alparce-Villanueva added.
Advanced mindsets
1 of 3
Panelist for the second panel discussion: Alaga Health Co-Founder Dr. Via Galban
Panelist for the second panel discussion: Romlas Health Group Group CEO Mitch Genato
Panelist for the second panel discussion: PhilSTAR Media Group Executive Vice-President Lucien C. Dy Tioco
The forum also touched on the changing perceptions on what entails wellness in the second panel discussion which also discussed preventive healthcare and functional medicine, as well as integrative and accessible healthcare solutions.
PhilSTAR Media Group (PMG) Executive Vice-President Lucien C. Dy Tioco shared that part of the company’s goal to help in nation-building is advocating for a positive approach to health.
“It’s about changing the mindsets about healthcare… We want to take on that role in the first step of making Filipinos more aware about their health,” he explained.
Speaking about the main obstacles that individuals experience in taking the first step toward taking better care of their health and wellness, Mr. Dy Tioco highlighted the generally negative approach that people have toward health itself.
“It’s becoming a concern in different sizes and forms. We talk about disease prevention, yet what we do on a daily basis does not totally contribute to one’s health… Generally, everyone’s wish is to live a long and healthy life. In order for us to do that, it takes a lot of collaboration, a lot of advocates that we can influence, and urgency in promoting a more holistic approach toward health,” he said.
In promoting such approach, Mr. Dy Tioco unveiled PMG’s latest advocacy program, the “Joyful Wellness” campaign, which seeks to bring joy to the Filipino mindset about health. The spectrum that the campaign covers includes nutrition, disease prevention, beauty, health technology, mental health, and more.
Currently, the program is offering the “Better You” journal, a personal guide to better health for a more joyful life, packed with expert advice and helps keep track of the user’s health journey.
Mitch Genato, CEO of the Romlas Health Group Group, spoke about the mindset of prevention, serious investments in healthcare, and moving towards principles supported by functional medicine.
“We have to start looking at where the ball is heading. No amount of budget in the field of health will be able to cover the rising costs to be able to manage healthcare in the country. This is where I feel that our proposition as a group becomes very relevant in how we partner with our friends and partner institutions,” he said.
Mr. Genato also talked about how functional medicine as well as holistic wellness approaches can help bridge the gap between health awareness and actual practice in the Philippines.
“Functional medicine is not a specialty. It’s a paradigm of care where we look at the root cause [and] respect the individualism of the individual; and it complements the population-based model of the hospital system. When you combine a very personalized view of an individual with a population-based kind of care, then we have better efficiency,” he explained.
Mr. Genato also emphasized the role of the Filipino public in making healthcare better, along with encouraging healthcare practitioners to advocate for healthier diets and better habits.
“There is no better advocate than someone who’s gone through the journey themselves. I believe that the public can become more involved by taking on goals in the healthcare system by being advocates and champions. But, then, it’s also important for us to be able to be role models. Coaching is more of a language than a profession,” he noted.
Rooted in her experience as a doctor, Alaga Health Co-Founder Dr. Via Galban shared her advocacy of helping institutions that are not necessarily health-oriented but have a business in health.
“A health problem can become a part of a very large problem that is rooted in the community, and that is why we wanted to create Alaga Health… We believe that getting better is done together,” Ms. Galban said.
Ms. Galban also advocated integrating non-medical ways of dealing with medical problems in the healthcare system by looking at different disciplines in making solutions and by expanding solutions to reach more people.
“It’s time for us to democratize medicine and healthcare, especially when it comes to not only adapting more solutions but actually adapting more perspectives when it comes to healthcare,” she concluded.
Interoperable network
Medical informatics expert Dr. Alvin B. Marcelo
The forum also tackled the digital aspect of healthcare with Dr. Alvin B. Marcelo, a medical informatics expert from UP Manila Standards & Interoperability Laboratory.
In his presentation, he talked about the challenges of creating information systems that work inside health facilities, across facilities, and across provinces until the data eventually reaches the National Health Repository of the Department of Health (DoH).
“There’s potential for interoperability. If all the facilities in a province or a healthcare provider network is open health information exchange (HIE)-compliant, then they will be able to securely exchange data of a patient as the patient is traversing that local healthcare network,” Mr. Marcelo explained.
The medical informatics expert also spoke on the state of healthcare digitalization in the country, how the Philippines is faring compared to other countries, and what the government can improve.
“We have the eGov App, but there’s no health data yet inside. We might be two notches below Malaysia and Indonesia; but because of the efforts of the Philippine Statistics Authority, the potential of a Filipino getting data from another facility in their eGov App is much more realistic now than two years ago. But, we’re not there yet; they just need to keep going at it,” Mr. Marcelo said.
Reaching rural and remote areas is another talking point the expert touched on. He explained that people need to be trained, the facilities need to be available, and that telecommunications companies need to meet the village networks midway.
“The DoH can develop telemedicine protocols, and they have. But, it’s not practical if there’s no connectivity in the remote area. So, partnership with the DICT (Department of Information and Communications Technology) is really crucial to make that work,” Mr. Marcelo said.
He advocated for players in the healthcare industry and other stakeholders to have frequent conversations about collaborating to create more solutions for Filipinos.
“I think the next step is really to form that network because government alone cannot do everything by itself. They can only do so much, and after that, we’ll have to take care of ourselves,” Mr. Marcelo said.
This BusinessWorld Insights forum was presented with the support of gold sponsor mWell; silver sponsor The Medical City; bronze sponsors Sun Life and Intellicare; partners Asian Consulting Group, American Chamber of Commerce of the Philippines, British Chamber of Commerce of the Philippines, Bank Marketing Association of the Philippines, Management Association of the Philippines, Philippine Chamber of Commerce and Industry, Philippine Franchise Association, and Philippine Retailers Association; and official media partner The Philippine STAR.
Euro, Hong Kong dollar, US dollar, Japanese yen, pound and Chinese yuan banknotes are seen in this picture illustration in Beijing, China. — REUTERS
NET INFLOWS of foreign direct investment (FDI) into the Philippines slumped in November, preliminary data from the central bank showed.
FDI net inflows fell by 19.8% to $901 million in November from $1.12 billion in the same month in 2023, the Bangko Sentral ng Pilipinas (BSP) said on Monday.
Month on month, inflows slid by 11.8% from $1.02 billion in October.
This was also the lowest FDI net inflow in two months or since the $368 million posted in September.
Net investments in debt instruments dropped by 17.9% to $791 million in November from $964 million in the same month in 2023.
These consisted mainly of intercompany borrowing or lending between foreign direct investors and their subsidiaries or affiliates in the Philippines, the central bank said.
“The remaining portion of net investments in debt instruments are investments made by nonresident subsidiaries/associates in their resident direct investors, i.e., reverse investment,” it added.
Meanwhile, net investments in equity capital other than the reinvestment of earnings plunged by 58.9% to $35 million in November from $85 million in the previous year.
Equity capital placements fell by 37.8% year on year to $71 million. On the other hand, withdrawals rose by 24.3% to $36 million.
By source, the bulk of equity capital placements mostly came from Japan (49%), followed by the United States (24%) and Singapore (17%).
These were invested mainly in manufacturing (49%), real estate (25%), financial and insurance (9%), and administrative and support services (5%).
Central bank data showed investments in equity and investment fund shares slid by 31.2% to $110 million in November from $159 million in the same month in 2023.
“Nonresidents’ reinvestment of earnings remained broadly stable at $74 million,” it added.
11-MONTH PERIOD In the January-November period, FDI net inflows rose by 4.4% to $8.58 billion from $8.22 billion in the same period in 2023.
This accounted for 95.3% of the BSP’s full-year forecast of $9-billion FDI net inflows for 2024.
Investments in equity and investment fund shares jumped by 16.4% year on year to $2.6 billion from $2.2 billion in the same period in 2023.
Net foreign investments in equity capital climbed by 37.7% to $1.49 billion in the first 11 months from $1.08 billion in the year-ago period.
Placements increased by 23% to $1.98 billion, while withdrawals dipped by 7.1% to $493 million.
These placements mainly came from Japan (39%) and the United Kingdom (39%), followed by the United States (10%) and Singapore (5%).
Investments were mostly channeled into manufacturing (72%), real estate (12%) and wholesale and retail trade (4%) industries.
Meanwhile, net investments in debt instruments inched down by 0.1% to $5.98 billion. Reinvestment of earnings likewise slipped by 3.6% to $1.1 billion.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the decline in FDI flows could be attributed to uncertainties over US President Donald J. Trump’s protectionist policies.
“President Trump, who won the US elections on Nov. 5, encourages more investments and jobs in the US rather than outside the US that could reduce foreign investments globally,” he said.
Oikonomia Advisory & Research, Inc. economist Reinielle Matt Erece said foreign investors were hesitant in making decisions in November when Mr. Trump won the elections.
“His suggested protectionist policies caused investors to hold capital and reposition their investments as higher inflation expectations, higher interest rates, and potential trade wars may occur as a result of these economic policies,” he added.
Mr. Ricafort noted foreign investors were also on a “wait-and-see” mode as the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act was signed into law in November.
“But this would now make foreign investors more decisive on whether or not to locate in the country, going forward,” he added.
CREATE MORE expands fiscal incentives and lowers corporate income tax on certain foreign enterprises.
“The series of storms and floods caused some economic disruptions in some areas of the country and also partly disrupted some FDIs into the country,” Mr. Ricafort added.
The Philippines faced several typhoons in the fourth quarter, which resulted in billions of infrastructure and agriculture damage.
“Nevertheless, net FDI close to $1 billion is still decent and among pre-pandemic highs that could create more jobs and other business opportunities and also still contribute to further economic growth and development,” Mr. Ricafort said.
Further monetary policy easing would also lower financing costs and attract more investments, he added.
In 2024, the BSP reduced interest rates by a total of 75 basis points (bps). It delivered three straight 25-bp rate cuts each in August, October and December.
A BusinessWorld poll conducted last week showed that 19 out of 20 analysts expect the Monetary Board to cut rates by another 25 bps at its first meeting of the year on Feb. 13.
The central bank expects to end 2025 with a $10-billion net FDI inflow.
The BSP noted that its FDI data are distinct from the investment data of other government sources as it covers actual investment flows.
“By contrast, the approved foreign investments data that are published by the Philippine Statistics Authority, which are sourced from Investment Promotion Agencies, represent investment commitments, which may not necessarily be realized fully, in a given period.” — Luisa Maria Jacinta C. Jocson
A vendor sells pork products at a market in Pasay City. — PHILIPPINE STAR/RYAN BALDEMOR
THE DEPARTMENT of Agriculture (DA) is looking at imposing a maximum suggested retail price (MSRP) for pork as prices remain elevated amid reports of profiteering.
The price of pork is almost double the farmgate price, suggesting a potential abuse of prices in markets, Agriculture Secretary Francisco P. Tiu Laurel, Jr. said at a Palace briefing, after discussing the issue with President Ferdinand R. Marcos, Jr.
He cited a gap of about P100 between the farmgate prices of P240 and P250 per kilo and the market prices of P380 to P420 per kilo.
“We’re currently studying that and digging deep into the whole value chain of pork, and finding out whether or not there is profiteering,” Mr. Laurel said.
“If we have identified that there’s profiteering, then definitely we will be doing an MSRP also for pork.”
The DA has resorted to the MSRP scheme for imported rice in a bid to curb prices. The MSRP was set at P55 per kilo of imported rice with broken grain content of 5%, which will take effect nationwide starting Feb. 15.
Mr. Laurel said pork prices above P400 per kilo is “unreasonable.”
DA data last week showed that pork prices have risen to as much as P480 per kilo. The price of pork belly ranges from P380 to P480 per kilo, while pork ham or kasim ranged from P340 to P420 per kilo.
“Farmgate price remains between P220 and P240 per kilo for the past weeks, which means retail prices should not exceed P380 per kilo,” Samahang Industriya ng Agrikultura Executive Director Jayson H. Cainglet said.
“Selling beyond P400 per kilo is not reflective of the actual pork prices,” he said in a Viber message.
Former Agriculture Secretary William D. Dar attributed the surge in pork prices to the spread of African Swine Fever (ASF), which has lowered supply.
“The government must step up efforts and vigorously put up biosafety measures to stem the spread of ASF,” he said in a Viber message.
As of Jan. 31, 15 provinces in nine regions have active ASF cases, according to the Bureau of Animal Industry.
“Where is the much-promoted vaccine against ASF as espoused by the DA and the private sector? If such a vaccine is really working, then why not a massive nationwide vaccination of pigs be done,” Mr. Dar added.
The government began the controlled rollout of Vietnam-made ASF vaccines in late August 2024, with a focus on hogs in Lobo, Batangas, one of the hotspots for the disease that has severely impacted the sector since 2019.
“The piggeries, both backyard and big one, have to elevate their biosafety interventions,” Mr. Dar said.
Mr. Dar said the DA should strengthen coordination with local government units (LGUs) to ensure that quarantine measures are properly followed. Leonardo A. Lanzona, who teaches economics at the Ateneo de Manila University, said higher pork prices indicate “further supply-side constraints” that are also faced by other food commodities such as rice and tomatoes.
“It therefore cannot be attributed to profiteering of individual traders but a systemic or aggregate failure in the country’s agricultural sector,” he said in a Facebook Messenger chat.
Meanwhile, Mr. Laurel said Mr. Marcos was briefed on the food situation in the country during Monday’s meeting attended by representatives from the National Economic and Development Authority and the Department of Labor and Employment.
The meeting was held just days after the DA declared a national rice emergency for rice amid an “extraordinary” spike in the prices of the staple grain despite lower tariffs for imports.
Mr. Laurel said the agency is set to release National Food Authority rice buffer stock by next week, with over 50 LGUs expressing interest in purchasing the rice stocks.
Meanwhile, Mr. Laurel said the DA has already blacklisted 16 companies as it combats illegal trade practices. The companies, four of which were already charged for illegal trade practices, were involved in importation of vegetables and fish. — K.A.T. Atienza
Colorful flower arrangements are displayed ahead of Valentine’s Day at a stall in Cubao, Quezon City, Feb. 9, 2025. — PHILIPPINE STAR/MIGUEL DE GUZMAN
THE PHILIPPINE ECONOMY will likely hit the low end of the government’s 6-8% growth target this year, Capital Economics said.
“Our forecast is that growth will remain relatively strong as looser monetary policy helps offset the drag from weaker exports and tighter fiscal policy. Overall, we expect the economy to grow by 6% this year,” it said in a report.
Capital Economics expects Philippine gross domestic product (GDP) to grow by 6% this year and by 6.5% next year. These are both within the government’s 6-8% targets for 2025 to 2026.
In 2024, GDP expanded by 5.6%, falling short of the government’s 6-6.5% target.
“Strong and steady growth supports our view that the easing cycle will remain gradual over the coming months,” Capital Economics said.
It expects the Bangko Sentral ng Pilipinas (BSP) to deliver a total of 100 basis points (bps) worth of rate cuts this year.
BSP Governor Eli M. Remolona, Jr. has signaled the possibility of lowering rates by a total of 50 bps this year, citing that 75 bps or 100 bps may be a bit “too much.”
Meanwhile, Capital Economics said inflationary pressures have “eased significantly” and will likely continue to remain within target in the coming months.
It expects headline inflation to settle at 3.2% this year and ease further to 2.9% in 2026.
“A combination of easing food price inflation and lower transport price inflation should keep inflation contained over the coming months,” Capital Economics added. — L.M.J.C. Jocson
MOTORISTS crawl through heavy traffic along EDSA in Makati City, Dec. 10, 2024. — PHILIPPINE STAR/MIGUEL DE GUZMAN
MOTOR VEHICLE PRODUCTION in the Philippines declined in November, reflecting the wider downtrend in the Association of Southeast Asian Nations (ASEAN) region, according to the ASEAN Automotive Federation (AAF) report.
Data from the AAF showed Philippine motor vehicle output fell by 7.2% in November to 8,772 units from 9,455 units in the same month in 2023. This was the biggest decline since the 12.9% contraction in March.
The ASEAN region saw motor vehicle production drop by 15.2% to 318,575 cars in November.
Thailand had the biggest output in the region at 117,251, falling 28.2% year on year. This was followed by Indonesia, whose output slipped by 5% to 110,398 units and Malaysia with a 10.1% drop to 60,927.
Vietnam had the fourth-biggest production in November at 20,901 units, up 12.5% year on year, followed by the Philippines.
Myanmar manufactured 326 units in November, jumping 79.1% year on year.
For the January-to-November period, the Philippines saw motor vehicle production grow by 14.7% to 116,650 units from 101,707 in the same period in 2023.
In ASEAN, production declined by 12.7% to 3.47 million as of end-November from 3.98 million a year prior, as only the Philippines, Myanmar and Malaysia posted annual growth.
Vehicle production in Myanmar surged by 83.8% year on year to 2,515 units, while Malaysia’s output inched up by 2.4% to 725,173 units.
Despite a 20.2% contraction, Thailand remained the biggest manufacturer in the region at 1.36 million. Indonesia saw output plunge by 31.8% to 885,516, while Vietnam’s output shrank by 1% to 157,115.
Meanwhile, motorcycle and scooter production in the Philippines grew 4.3% in November to 112,216, from 107,564 units in the same month in 2023.
The Philippines was the third-biggest producer of motorcycles and scooters in the region, after Indonesia where production declined by 7.5% to 571,810 and Thailand where output fell by 16.8% to 148,142 units.
In the first 11 months, the growth in motorcycle and scooter production was the fastest in the Philippines at 8.6% to 1.25 million units from 1.15 million in the same period in 2023.
Indonesia remained the leader in the region with 6.45 million units, up by 1.7% year on year. This was followed by Thailand with 1.73 million units, down by 11.4%.
The region’s total motorcycle and scooter production slipped by 0.2% to 9.95 million in the January-to-November period.
GROWING SALES In the first 11 months, motor vehicle sales in the Philippines grew 8.8% to 425,209 from 390,654 units a year prior.
This was the fourth fastest growth in the region, after Singapore (up 40.2% to 46,491), Myanmar (up 31.3% to 3,982) and Vietnam (17.2% to 308,544).
Sales in Malaysia inched up by 1.4% to 731,476 units.
Sales in Thailand plunged by 26.7% to 518,303, while sales in Indonesia fell by 14.7% to 784,791.
This brought the total region’s sales to 2.82 million in the January-to-November period, down 7.3% from 3.04 million in 2023.
Meanwhile, motorcycle sales in the Philippines grew 7.6% to 1.55 million in the 11-month period, the fastest growth in the region.
Following the Philippines was Malaysia, which saw a 2.2% increase in motorcycle sales to 517,461 from 506,083 a year prior.
Next are Indonesia and Singapore, which had a 2.1% and 2% increase in motorcycle sales in the first eleven months to 5.93 million and 11,176 units.
Thailand posted a 9.6% decline in motorcycle sales to 1.56 million in the January-November period.
ASEAN’s total motorcycle sales inched up by 0.8% to 9.57 million as of end-November. — J.I.D. Tabile
THE GENERATION charge typically accounts for more than 50% of the monthly electricity bill. — PHILSTAR FILE PHOTO
POWER DISTRIBUTOR Manila Electric Co. (Meralco) expects a higher generation charge for February as the peso’s depreciation raises costs for dollar-denominated power contracts.
“We are still waiting for all the final billings from our suppliers, but initial indications point to a higher generation charge due to peso depreciation, which affects the costs of our suppliers, most of whom have dollar-denominated contracts,” Joe R. Zaldarriaga, Meralco vice-president and head of corporate communications, said in a Viber message on Monday.
The generation charge typically accounts for more than 50% of the monthly electricity bill.
The peso closed at P58.365 on Jan. 31, weakening by 52 centavos from its P57.845 finish on Dec. 27.
Mr. Zaldarriaga also expects an increase in the transmission charge due to the scheduled collection of the remaining 70% of the reserve market settlement fee incurred in March 2024.
The Energy Regulatory Commission (ERC) directed the recovery of these fees over a three-month period beginning with the February billing, allowing power generators to recover their costs.
“We hope these upward pressures will be somehow tempered by the one-time refund of regulatory reset costs of distribution utilities, similarly ordered by the ERC effective this month,” Mr. Zaldarriaga said.
In December last year, the ERC ordered private distribution utilities to refund unspent fees collected during the regulatory rate reset process, totaling P1.18 billion.
For Meralco, the refund amounts to P987.16 million, equivalent to around 23 centavos per kilowatt-hour (kWh) for its customers.
In January, the overall Meralco rate declined by P0.2189 per kWh to p11.7428 per kWh, driven by a lower generation charge during the period.
The generation charge fell by P0.1313 per kWh to P6.8358 per kWh, primarily due to lower costs from the Wholesale Electricity Spot Market and independent power producers.
Meralco is the main power distributor for Metro Manila and nearby areas, covering 39 cities and 72 municipalities, and delivering power to around eight million customers.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera
Song is an offshoot of their experience at music camp
LOCAL pop rock band Lola Amour has been featured on the latest single of Australian singer-songwriter Oliver Cronin, titled “Maria,” born from an unexpected collaboration last year.
The track follows the release of Lola Amour’s album concert documentary back in November, indicating a more global presence. For Mr. Cronin, the track is part of the deluxe edition of his new EP Edge of Paradise, a lead-up to his upcoming debut album Paradise.
Both artists, who met at a music camp in Malaysia last year, found a sense of synergy with each other and decided to explore it.
“Maria” centers on a fictional woman, according to Lola Amour’s lead singer and rhythm guitarist Pio Dumayas.
“It’s not about a real person, but we made up this woman that me and Oliver are both blindly in love with. We made the song around that concept,” said Mr. Dumayas at the song’s Feb. 6 press launch in Manila.
“We experienced a new songwriting process that allowed our style to blend with Oliver’s,” he explained. “It’s not our main sound, but it’s like a side quest for us.”
Lola Amour keyboardist David Yuhico added that the ballad was “a result of a unique experience.”
“It was our first time joining a music camp. It’s a good thing we gave it a chance because it was one of the best things that happened to us as songwriters,” he said.
The song has a classic boyband sound to it, with a bold saxophone solo by Lola Amour member Jeff Abueg, capturing the styles of both artists. In a statement, Oliver Cronin described the collaboration as “an incredible experience.”
“Their 7-piece dynamic brought something fresh and magical to ‘Maria,’” he said.
On the band’s slowly expanding global footprint (with Spotify detecting thousands of listeners from Indonesia, USA, Canada, and Australia), frontman Mr. Dumayas added that their international appeal is but “a natural progression.”
“All of our planned releases as of now are songs in English. It’s not intentional, but we welcome new audiences outside the country,” he said.
The band racked their brains as to what single word could describe the coming year — “busy” was an immediate answer. After some thought, they settled on “growth.”
“Maria” is out now on all digital music streaming platforms. — Brontë H. Lacsamana
ALSONS Consolidated Resources, Inc. (ACR), the listed investment holding company of the Alcantara Group, has secured P1.6 billion from the issuance of commercial papers.
The company listed the initial tranche of its P3-billion commercial paper program on the Philippine Dealing & Exchange Corp. (PDEx), it said in a statement.
“ACR is committed to helping address the country’s growing demand for reliable and affordable power. This commercial paper program provides us with an efficient and cost-effective way to support our working capital requirements, enabling us to fulfill our mission of unlocking potential and empowering progress in Mindanao and beyond,” said ACR Deputy Chief Financial Officer Philip Edward B. Sagun.
The issuance consists of a base offer of P1.2 billion and an oversubscription of up to P400 million.
Commercial papers are short-term debt securities issued by corporations to raise funds for immediate financial needs, such as refinancing short-term liabilities or covering operational expenses.
According to its latest prospectus, ACR intends to use the proceeds to refinance maturing short-term obligations and for working capital purposes.
RCBC Capital Corp. acted as the issue manager, lead underwriter, and bookrunner for the program. MIB Capital Corp. was appointed as the arranger, while AB Capital and Investment Corp. served as the facility agent.
The Securities and Exchange Commission recently issued a certificate of permit to offer the securities.
ACR is currently focused on expanding its renewable energy portfolio, with several hydro and solar power projects in various stages of development.
It also aims to grow its retail electricity supply customer base.
“We are optimistic about the expansion of our Retail Electricity Supply unit as we continue to enhance our market presence, improve our operational capability, and develop our power assets,” said Mr. Sagun.
ACR, which describes itself as Mindanao’s first independent power producer, operates four power plants with a combined capacity of 468 megawatts.
At the local bourse on Monday, shares in the company climbed by 2.15% to close at P0.475 each. — Sheldeen Joy Talavera
DOG OWNERS will know that it’s difficult to maintain a healthy lifestyle for their dogs. Be it yummy treats, leftovers, or cheap dog food, dogs eat just about anything, their curious noses able to sniff out all the good stuff that they want (sometimes, even if it isn’t meant for them!). This is where Kind Kibble comes in.
Southeast Asian pet wellness brand Dr. Shiba launched the new food product, which aims to “deliver premium nutrition without unnecessary fillers or misleading claims.”
“There were really two options that we saw on the market — one option was very cheap dog food and you don’t really know what’s in there, and then the top-of-shelf expensive dog food where you pay way more than you would for your own meals,” Dr. Shiba Chief Executive Officer Philipp Renner said at the Philippine launch on Feb. 6.
“We saw that prices compromise quality, so we thought that there must be a better way,” he said.
Kind Kibble is made of 56% high-quality fresh beef, 30% proteins, and is enriched with superfoods like sweet potato, blueberries, and pears. There are no animal by-products, fillers, or artificial add-ons.
Most importantly, all of the contents of the dog food are specified on the label, for complete transparency, said Mr. Renner.
“We wanted to make sure we have the nutrition in there that a dog needs on a daily basis, and there are standards for that. We said we need to at least hit the standard. Ideally, we go above,” he explained.
Veterinary Practitioners of the Philippines-licensed veterinarian Dr. Rio Dela Cruz told the press during the event that it’s important “to look at new products in the market with a critical eye.”
She reminded pet owners to ensure that their pets have a well-balanced diet, with a very good protein source.
“If you have these good ingredients in their food, that will reflect their overall health status. So, you can see that they avoid diseases, that they have healthy, shiny fur, and of course everything else that indicates a peaceful demeanor and long lifespan,” she said.
Mr. Renner explained that they tested the product on a broad range of dogs, to ensure that the taste would be favorable to canines. “They dictated, out of a lot of different tastes, what would be the flavor of the kibble,” he said.
Dr. Shiba brand ambassador Liza Soberano also shared her experience as a dog owner at the launch event.
“As a fur parent, I’ve seen firsthand how proper nutrition impacts pets’ well-being. Kind Kibble gives my Yuna the balanced nutrition she needs. I love that I can trust what’s in her food,” she told the press.
Dr. Shiba’s Kind Kibble is now available at P799 for a two-kg pack via dr-shiba.com, Pet Express, Pet Lovers Centre, PetBuddy, Dogs and the City, and online platforms like Lazada, Shopee, and TikTok Shop. — Brontë H. Lacsamana
FOR this Valentine season, Robinsons Malls is bringing together Filipino music artists for multiple performances at its various malls until Feb. 28 through the RMusic Love Fest 2025. Janine Berdin and Justine Vasquez will be performing at Robinsons Pavia and Robinsons Roxas, respectively, on Feb. 13 and 14. Moira Dela Torre takes center stage at Robinsons Magnolia on Feb. 15 and at Robinsons Galleria South on Feb. 16. The Valentine celebrations continue at Robinsons Butuan on Feb. 20 with performances from Armi Millare, Janine Berdin, and Justine Vasquez. Imago and Armi Mallare will serenade mallgoers on Feb. 22 at Robinsons Bacolod.December Avenue will be at Robinsons Las Piñas on Feb. 22 while Over October and Armi Millare will be in Robinsons Gen Trias on Feb. 23.Moira Dela Torre returns with a show at Robinsons Metro East on Feb. 23, and December Avenue at Robinsons Ilocos on Feb. 27. Finally, Moira Dela Torre caps the month of celebrations at Robinsons Galleria Cebu on Feb. 28.
Valentine promos at SM last through February
VALENTINE’S DAY isn’t just about couples; it’s a celebration of love in all its forms, so SM suggests treating oneself to a well-deserved Valentine shopping spree. Shop from Feb. 14 to 16, and get a 10% discount for a minimum receipt purchase of P3,000. SMAC members who go on another shopping spree from Feb. 24 to 28, will earn an extra 10 times their SMAC points for a minimum purchase of P3,000 in a single receipt. With the hot weather coming soon, customers can buy the JisuLife Life 9 handheld fan for P999, down from an original price of P1,499, with a minimum purchase of P1,000 from SM Store. This promo will be available from Feb. 12 to March 15.
Singer-songwriter David Kushner releases new single
MULTI-PLATINUM singer-songwriter David Kushner is back with the new single, “Breathe In, Breathe Out,” available now via Miserable Music Group. Produced by Rick Nowels, the deeply emotional, cinematic track is joined by an official music video. The song heralds Mr. Kushner’s upcoming EP, 20 Years from Now, arriving on Valentine’s Day, Feb. 14. It sees Mr. Kushner unpacking the passing of time and the lingering question of where love will weave itself two decades down the line, inspired by his parents’ rocky relationship.
K-DramaBuried Hearts on Disney+ this February
IN the suspense K-drama Buried Hearts, a political investigation uncovers corruption and embezzlement at a top Korean conglomerate, leading to a scheming executive’s attempts to curry favor. The political revenge drama comes to Disney+ on Feb. 21. It stars Park Hyungsik as the morally ambiguous Daesan Group executive, and Huh Joonho as a manipulative professor and powerbroker. Fellow co-stars include Hong Hwayeon and Lee Haeyoung. Buried Hearts is written by Lee Myeonghee and directed by Jin Changkyoo.
Pinoy artist MURI to perform at SXSW Music Festival
RISING artist MURI is set to take the stage at the 2025 South by Southwest (SXSW), a music festival in Austin, Texas, from March 10-15. Following her appearance at Southeast Asia’s AXEAN Festival, she now travels west to join an roster of international talents, showcasing her unique blend of soul, indie, and jazz-pop music to a global audience. The resident violinist of Filipino indie-folk band The Ransom Collective, MURI has recently stepped into the spotlight as a solo artist with the release of her debut EP, 11ème.
Novocaineopens in PHL cinemas in March
THE action-packed film Novocaine follows every man Nate (played by Jack Quaid), who must turn his inability to feel pain into an unexpected strength when the girl of his dreams (Amber Midthunder) is kidnapped. The film centers on his fight to get her back. It is presented by Paramount Pictures, written by Lars Jacobson, and directed by Dan Berk and Robert Olsen. Novocaine opens in Philippine cinemas on March 12.
Fusion The Philippine Music Festival turns 10
THE 10th anniversary ofFusion The Philippine Music Festival takes place on March 15 at the Cultural Center of the Philippines’ Open Grounds in Pasay City. It will feature OPM artists like Ben & Ben, December Avenue, Zack Tabudlo, Maki, The Itchyworms, Alamat, KAIA, Barbie Almalbis, Allmo$t, Pauline Anne, D’Grind, the UP Varsity Pep Squad, and DJs Ron Poe, Mars Miranda, and DJ Bandit. There will also be special performances from KWC Philippines’ rising stars: Jan Francis, Al, MJ, Jovie and Nica. The music festival unites artists across genres, generations, and managements.
Children’s performer CoComelon stages live show
THE CoComelon: Sing-A-Long LIVE show is coming to the Philippines on April 25 to 27. As announced by Wilbros Live, Round Room Live, and Moonbug Entertainment, the new show will bring JJ, Cody, Nina and their friends from the globally beloved children’s YouTube network to life. CoComelon: Sing-A-Long LIVE will tour internationally, its Manila stop slated for three days at the New Frontier Theater in Cubao, Quezon City. Tickets for the show go on sale on Feb. 15 via TicketNet.com.ph and all TicketNet outlets nationwide.
NOBITA teams up with Flow G on new track
KNOWN for their emotionally charged songwriting, Filipino alternative pop quintet NOBITA is back with the new single “PNYT.” The genre-defying track features award-winning rapper Flow G, marking a bold departure from NOBITA’s signature sound. The lyrics tackle the unpredictable and sometimes devastating nature of love. The track opens with guitar riffs and a verse that blends elements of rock, R&B, and hip-hop. NOBITA’s “PNYT” (featuring Flow G) is out now on all digital music platforms worldwide via Sony Music Entertainment.
Marina Summers joinsRuPaul’s Drag RacePH tour
WILBROS Live has just announced that Marina Summers will be joining RuPaul’s Drag Race WERQ THE WORLD 2025 World Tour in the Philippines. She is the first performer to be announced out of many Drag Race PH Queens who will be revealed soon. The show is set for April 29 at the Waterfront Hotel in Cebu City, and April 30 at the Araneta Coliseum in Quezon City. The international lineup includes Sasha Velour, Derrick Barry, Jaida Essence Hall, Roxxxy Andrews, Vanessa Vanjie, and many more. Tickets for the Manila show are available via TicketNet while tickets for the Cebu show are available via SM Tickets.
Coldplay debuts ‘Man in The Moon’ music video
COLDPLAY has released the music video for their track “Man in The Moon” from the extended Full Moon Edition of the band’s latest album Moon Music. It was filmed while the band was in Singapore, capturing a dance party with various Singaporean creatives out in the middle of the water. The video spotlights Singapore’s iconic spots and hidden gems, from the Marina Bay to Fort Canning Park.
SM PRIME Holdings, Inc. has set the interest rates for its planned P25-billion peso-denominated fixed-rate bond offering, which will be available from Feb. 12 to Feb. 18.
The property developer’s Series Y bonds will carry an interest rate of 6.0282% due in 2028, while the Series Z bonds are priced at 6.2113% due in 2031, according to a regulatory filing on Monday.
Meanwhile, the Series AA bonds will be priced at 6.4784% and will mature in 2035.
The bond offering consists of an aggregate principal amount of P20 billion, with an oversubscription option of up to P5 billion.
This issuance marks the second tranche of SM Prime’s P100-billion shelf registration of fixed-rate bonds approved by the Securities and Exchange Commission (SEC) on June 6 last year.
The P25-billion issuance received a PRS Aaa rating from the Philippine Rating Services Corp. (PhilRatings).
A PRS Aaa rating is the highest assigned by PhilRatings, signifying that the obligations are of the highest quality with minimal credit risk and that the issuer has an extremely strong capacity to meet financial commitments.
Last week, SM Prime announced a budget allocation of up to P33 billion this year to expand its commercial real estate portfolio.
Approximately P21 billion will be earmarked for increasing the gross floor area of the company’s malls, while P6 billion will be allocated for expanding its hospitality and meetings, incentives, conferences, and exhibitions operations.
Another P6 billion will be used for the development of new office towers and workspaces.
“We expect moderating inflation, easing interest rates, and election-related spending to fuel our growth in 2025,” said SM Prime President Jeffrey C. Lim.
On Monday, SM Prime shares declined by 4.09% or P1.05 to P24.60 apiece. — Revin Mikhael D. Ochave
