ERC OKs Alternergy’s P2.8-B grid link project for Tanay wind farm

August 21, 2025 | 12:07 am

Alternergy-windmill — BW FILE PHOTO/ALDRINE BALLESTEROS

ALTERNERGY Holdings Corp. has secured approval from the Energy Regulatory Commission (ERC) to build a P2.8-billion transmission facility to connect its 128-megawatt (MW) wind power project in Tanay, Rizal.

The ERC approved the application of Alternergy Tanay Wind Corp. (ATWC), a subsidiary of Alternergy, to develop and own a dedicated point-to-point transmission facility, the company said in a media release on Wednesday.

The facility will involve the construction of two double-circuit 500-kilovolt (kV) transmission lines and a 500-kV switchyard with a transformer.

Alternergy also secured approval for its unique two-stage interconnection scheme comprising an interim and a final connection.

As an interim connection scheme, the ERC approved a bus-in connection to the existing 500-kV San Jose-Tayabas transmission backbone of the Luzon grid, pending completion of the proposed Baras 500-kV substation of the National Grid Corporation of the Philippines (NGCP), which will serve as the final connection scheme.

“This is an innovative interconnection scheme that enables our Tanay Wind Power Project to meet its commitment under the Administration’s Green Energy Auction 2,” ATWC President Gerry P. Magbanua said.

The Tanay Wind Power Project is part of Alternergy’s portfolio of renewable energy projects, supporting the company’s goal of achieving a 500-MW capacity by 2026.

The P11.8-billion wind energy project is slated to begin commercial operations by the end of the year.

Earlier this month, Alternergy also secured approval from the ERC to build a P1.8-billion transmission facility to link its 64-MW Alabat wind power project in Quezon province to the Luzon grid.

Alternergy has a portfolio of renewable energy projects, including wind, hydro, solar farms and commercial rooftops, battery storage, and offshore wind projects. — Sheldeen Joy Talavera

Something hot

August 21, 2025 | 12:07 am

A collaboration with A Spark of Madness is sizzling up at Shake Shack.

SHAKE SHACK fans can now have a taste of its latest collaboration with A Spark of Madness, a Hong Kong-based brand of sauces and condiments. The new products hit the US-based burger restaurants in Manila on Aug. 19.

The collaboration is based on A Spark of Madness’ Crispy Chili Oil, a condiment made by its founder Simran Savlani during the pandemic (more on that later). It will be used on four items: Crispy Chili Chicken (100% all-natural crispy chicken breast glazed in Crispy Chili Oil, then layered with pickled cucumber, shredded lettuce, and a creamy scallion mayo), Crispy Chili Chicken Bites (crispy bite-sized chicken pieces soaked in the oil, served with that same scallion mayo on the side), Crispy Chili Cheese Fries (topped with Shack cheese sauce and A Spark of Madness crispy chili oil), and the Crispy Chili Cheesedog (all-natural beef hotdog drizzled with Shack cheese sauce and Crispy Chili Oil).

BusinessWorld got to try the new offerings during a tasting on Aug. 14 at the Shake Shack branch in Central Square, BGC. The Chicken Sandwich was pleasantly spicy, crispy, and filling; one of the best chicken sandwiches we’ve had in the city, due to the seamless blend between the chicken breast and the chili oil (we just have one complaint: it’s much too messy to eat, but unless you’re wearing all-white, you can be forgiven for scarfing it down). The chicken bites were a lot less forgiving than the chicken sandwich, its heat levels unhampered by the sandwich’s accoutrements. The hotdog, meanwhile, just tasted like a hotdog with spicy toppings. Finally, we judge the chili cheese fries to have the most mainstream appeal, what with the cheese sauce and the chili oil giving each other balance. What’s more, the cheese sauce tempered the spice, so even our heat-averse seatmates at the launch managed to finish this one.

Kate Villasenor, marketing director at Good Eats Specialists, Inc. (the franchiser of Shake Shack in the Philippines; under the SSI Group), said that the collaboration is exclusive to the Philippines, though Shake Shack in the UK has had a similar brush with crispy chili oil (albeit from another brand, and a few years ago).

She also said that they plan to open two more Shake Shacks this year, with the first one already showing a board-up in the Greenhills shopping complex.

A SPARK OF MADNESS
Ms. Savlani’s sauces can be found in Hong Kong, the Middle East, Singapore, and this month, in Manila (through Joel’s Place, the high-end grocery venture by the same Tantoco family of SSI).

The sauces have four variants: Crack Sauce (a version of Chinese peanut-based Dandan Noodles sauce), the Crispy Chili Oil used by Shake Shack and a hotter version with Black Truffle, and Caramelized Spring Onion.

Ms. Savlani named the business after something the late actor Robin Williams said during a standup comedy set: “You’re only given a little spark of madness, and you mustn’t lose it.”

“I grew up watching Robin Williams. I loved him,” she told BusinessWorld. As a child, she had longed to open a restaurant but was directed towards getting a business degree by her family. She worked in media and lifestyle for a few years, then decided to move to Paris to study at the Cordon Bleu: not to be a chef, as she had hoped, but to learn how to build restaurants. She went into this career, traveling all corners of the globe to do just that.

Like many of us, she took a pause because of the COVID-19 pandemic — Hong Kong was under restrictive quarantines and lockdowns. In her home, she decided to write a cookbook (named A Spark of Madness). The sauces were initially meant to be giveaways during her book events, but they took a life of their own. “With the sauces, people kept coming back,” she said.

“I’ve always wanted to feed people. With a restaurant, I would be able to feed people only in one neighborhood,” she said. “With the sauces… someone in Dubai is sitting and having the sauces.”

While they’re Asian in inspiration, Ms. Savlani’s tweaks to her vegetarian, preservative-free, handmade sauces make them suitable to use in any cuisine. “There’s no limit to what you can do.” It’s reflective of the multiculturalism of Hong Kong: “We’re a small city, where people bring flavors in.”

It’s also a reflection of her own: of Indian descent, residing in Hong Kong, born in Taiwan, and with periods spent in Bombay and Paris. Asked what that lifestyle did to her palate, she said, “Curiosity. When you’re pushed to be in a place that’s not home, you’re curious.”

While staying in Manila, she had gone to several different markets, ranging from middle-range to high-end. She does this in every city she visits. “It’s just exciting to know how a country consumes food,” she said. “I soak in a city by seeing its food.”

The collaboration between A Spark of Madness and Shake Shack will be available from Aug. 19 until Oct. 18 at all Shake Shack locations nationwide.

Meanwhile, Shake Shack will be offering free form pottery classes in partnership with local ceramic studio Bumi and Ashe. Happening on Sept. 6 and 7 at Shake Shack Alabang Town Center, guests can create a ceramic piece to take home, while also enjoying a free Crispy Chili meal set plus swag from Bumi and Ashe. Visit bumiandashe.com to reserve a slot or check @bumi.and.ashe on Instagram. — Joseph L. Garcia

Megawide Q2 income falls on lower revenues

August 21, 2025 | 12:06 am

Megawide-construction workers — MEGAWIDE.COM.PH

MEGAWIDE Construction Corp. saw its second-quarter (Q2) attributable net income decline by 14.6% to P220.79 million on lower revenues for the period.

For April to June, the company’s total revenues decreased by 28.34% to P4.45 billion from P6.21 billion in the same period last year.

For the six months ended June, the company’s attributable net income fell by 2.73% to P434.79 million from P447.03 million a year ago.

Consolidated revenues for January to June dropped by 23.59% to P8.78 billion from P11.49 billion in the comparable period last year.

Broken down, construction operations accounted for the majority of the company’s revenues for January to June at P7.31 billion, followed by landport operations at P216.97 million and real estate operations at P1.07 billion.

“Based on our performance in the first six months of the year, we are on track to outpace our net income from the previous year. This is also partly driven by the increasing contribution from our real estate business, which is steadily emerging as a new growth driver,” Megawide Chairman and Chief Executive Officer Edgar B. Saavedra said.

The company’s gross expenses went down to P8.13 billion, marking a 24.9% decline from P10.84 billion.

“Other business segments are expected to complement our consolidated overall performance as we replenish our order book for EPC and Precast and Construction Solutions (PCS) from both external and internal clients,” Mr. Saavedra said.

As of end-June, the company’s construction order book stood at P37.7 billion, with new contracts amounting to P2 billion.

These new contracts include Towers 2 and 3 of PH1 World Developers, Inc.’s PH1 project; Modan Lofts Ortigas Hills; Citicore’s Lucanin Solar Power Plant; and battery energy storage systems for the Bolbok and Lumbangan solar plants.

At the stock exchange on Wednesday, shares in the company gained four centavos or 1.96% to close at P2.09 apiece. — Ashley Erika O. Jose

José Zuccardi: Argentina’s wine visionary

August 21, 2025 | 12:06 am

WHEN VINEXPO ASIA returned to Singapore last May, the energy may have felt more subdued compared to its 2023 debut, but for me, it was all about encounters with fellow oenophiles, both new and old acquaintances.

One of the more memorable moments that stood out in this Vinexpo was my spending some time at the Zuccardi booth, with no less than José Zuccardi, the second-generation steward of Familia Zuccardi, one of Argentina’s most acclaimed wine dynasties. It was a rare opportunity to taste their diverse portfolio, including their natural wine line under Santa Julia, and their most prized wines from the Finca Piedra Infinita series while having the one and only José Zuccardi himself present.

LEGACY ROOTED IN INNOVATION
The Zuccardi story began not with wine, but with water.

In 1963, Alberto Zuccardi, a civil engineer, planted his first vineyard in Mendoza’s Maipú region — not to make wine, but to demonstrate his innovative irrigation system. What started as a technical showcase soon evolved into a lifelong passion for viticulture.

By 1968, Alberto had built a winery, and the Zuccardi name began its journey into Argentina’s wine history.

Alberto’s son, José Zuccardi, joined the business in 1976 and transformed it from a bulk wine producer into a global brand. José was among the pioneers who successfully pitched high quality Argentine Malbec to the world, helping redefine the country’s wine identity.

Today, José and his son Sebastián Zuccardi (third generation), are the father-and-son tandem managing and growing the Familia Zuccardi business.

The winery exports to over 70 countries and has earned accolades such as World’s Best Vineyard for three consecutive years (2019-2021) and was named New World Winery of the Year by Wine Enthusiast in 2022.

Zuccardi’s most iconic wines are from their Finca Piedra Infinita series. Finca Piedra Infinita — which roughly translates as Infinite Stone Estate — is a vineyard parcel of just a bit less than a hectare located in the Paraje Altamira I.G. (Indicaciones Geográficas) area within the Uco Valley. Its surface is covered by stones, it is rich in calcareous elements and is ideal for growing the malbec varietal.

Zuccardi has been instrumental in establishing Paraje Altamira as a premier winegrowing IG. These wines are fermented in “custom concrete vessels,” a signature touch of Familia Zuccardi, allowing for gentle extraction and preserving the purity of fruit and terroir.

I was very fortunate to taste their three Finca Piedra Infinita wines. Below are my customary Tasting Notes.

• Paraje Altamira Classico 2021 Malbec – “intense ripe red fruits, very fragrant, bold and flavorful, with bitter-sweet tannins, grainy, quartz-like and peppery finish”

• Paraje Altamira Supercal 2021 Malbec — “alluring nose with red berries, Nutella, and flintiness, complex, more aroma notes upon opening-up like violets and rose; the wine is full-bodied, vibrant, luscious and with a long, delicious finish”

• Paraje Altamira Gravascal 2021 Malbec — “expressive ripe berries, graphite notes, meaty and savory, full-bodied with firm yet supple tannins, long and lingering flambe berries at the end; amazing depth in this wine”

All three are some of the best Malbecs I have tasted, and no wonder they are highly sought after and among the priciest Argentine Malbecs available.

SANTA JULIA NATURAL WINES
José Zuccardi’s only daughter, Julia, is also involved in the business. The Santa Julia brand, named after her, was introduced to the Familia Zuccardi portfolio in the early 1990s, and was focused on wines using sustainable practices and organic viticulture.

Santa Julia wines got their organic certification as early as 2001 from LETIS (the Latin American Institute for Quality Certification and Standardization), and is probably the first Argentine wine to achieve this. Since then, Santa Julia added a vegan certification, further solidifying their role as Argentina’s leading organic wine producer.

At the Vinexpo, I was able to try their Natural Wines range. Their wines are made with minimal intervention, organically farmed, and at the purest varietal DNA. Even the labels from Santa Julia lean towards natural winemaking with its’ playful, approachable, memorable, child-like and animal-themed identity that is non-intimidating, and quite eye-catching. Below are my customary Tasting Notes.

• La Vaquita — Spanish for “little cow”; made from 80% Malbec and 20% Torrontes. “Light, juicy, fruity with bright berry notes and some stemminess”

• El Burro — Spanish for “donkey”; made from 100% Malbec. “Fresh, peppery, earthy, rustic and slightly flinty”

• La Oveja — Spanish for “ewe”; made from 100% Torrontes. “Aromatic, zesty, white petals, lemon rind, and refreshing; this is easily my favorite among the three Santa Julia natural wines”

Meeting José Zuccardi was more than just a memorable tasting session, it was a masterclass in vision, humility, and terroir. His passion for expressing the Andes through wine is palpable, and his belief in the future of Argentine wines and natural winemaking is inspiring. While the Santa Julia Natural wines were quaffable and delightful, it was the Finca Piedra Infinita series that left a lasting impression — wines that deserve a place in any serious collection of hardcore wine lovers.

For more about Zuccardi wines, and where to find them in the Philippines and rest of Asia, contact Clive McLaughlin, Familia Zuccardi Asia-Pacific Brand Manager, with e-mail address clive@familiazuccardi.com.

Sherwin A. Lao is the first Filipino wine writer member of both the Bordeaux-based Federation Internationale des Journalists et Ecrivains du Vin et des Spiritueux (FIJEV) and the UK-based Circle of Wine Writers (CWW). For comments, inquiries, wine event coverage, wine consultancy, and other wine related concerns, e-mail the author at wineprotege@gmail.com, or check his wine training website https://thewinetrainingcamp.wordpress.com/services/. Also check out his YouTube channel www.youtube.com/@winecrazy.

SM Warehouses offers more space to scale

August 21, 2025 | 12:05 am

SM Warehouse OL — SM Warehouses offers build-to-suit and core-and-shell facilities in prime logistics hubs, enabling high-growth companies to scale faster across the Philippines.

Rising consumer demand and the rapid expansion of e-commerce, fast-moving consumer goods (FMCG) and logistics are reshaping the Philippines’ industrial real estate landscape. Speed, scale and efficiency have become decisive factors in how companies compete and grow.

SM Warehouses, the logistics platform of SM Prime Holdings, Inc. (SM Prime), is meeting this demand with customized, strategically located facilities designed to give businesses a competitive edge.

It offers clients two options: customized build-to-suit facilities and core-and-shell sites for quick fit-out and fast start-up. This flexibility lets companies tailor layouts and features to their operations — whether for cold storage, high-volume distribution, or specialized technical use — while keeping lead times to market to a minimum.

SM Warehouses helps businesses scale in prime logistics corridors, such as Makati, Parañaque, Cavite, Laguna, Tarlac, Iloilo, Cebu, and Davao. Each location offers direct links to major highways, ports and transport nodes, translating to faster delivery cycles, lower logistics costs and stronger last-mile performance.

“The Philippines is an increasingly discerning market,” said Alexis Ortiga, Business Unit Head of the Commercial Property Group, which oversees SM Offices and SM Warehouses. “Consumers want quality, speed and a seamless experience. For businesses, that makes fulfilment a fight for the right space. Our job is to help them secure that advantage.”

The facilities can range from 9,000 to 150,000 square meters, accommodating specialized requirements such as cold chain networks or mega-fulfilment centers. Core-and-shell options offer the speed of early occupancy with the control of customized fit-out.

From concept to completion, SM Warehouses works alongside clients to ensure alignment on technical specifications, timelines and operational needs. Its current tenant base includes established names in retail, e-commerce and FMCG.

Backed by SM Prime’s extensive land bank and development expertise, SM Warehouses serves as a strategic partner in delivering scalable solutions to meet the country’s rising logistics and industrial demand.

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

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TDF yields end mixed

August 21, 2025 | 12:05 am

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

YIELDS on the term deposits auctioned off by the Bangko Sentral ng Pilipinas (BSP) ended mixed on Wednesday due to weak demand, with both tenors going undersubscribed as market liquidity was affected by the government’s recently concluded offering of retail Treasury bonds (RTB).

The central bank’s term deposit facility (TDF) fetched bids amounting to just P71.36 billion, well below the P100 billion placed on the auction block as well as the P117.295 billion in demand for the P190-billion offer in the previous week. The BSP accepted all the submitted tenders for both tenors.

Broken down, bids for the one-week papers stood at only P32.985 billion, lower than the P50-billion offer and the P60.19 billion in tenders recorded for the P140-billion placed on the auction block last week.

Banks asked for rates ranging from 5.235% to 5.27%, steady from the week prior. However, the weighted average accepted yield for the seven-day deposits inched up by 0.33 basis point (bp) to 5.2557% from 5.2524% a week ago.

Meanwhile, the two-week deposits attracted P38.375 billion in bids, also below the P50 billion offered by the central bank and the P57.105 billion in tenders recorded for the same volume auctioned off last week.

Accepted yields ranged from 5.26% to 5.2899%, narrower than the 5.2575% to 5.29% margin recorded a week earlier. This caused the average rate for the 14-day papers to go down by 0.66 bp to 5.2754% from 5.282% previously.

The BSP has not auctioned off 28-day term deposits for nearly five years to give way to its weekly offerings of securities with the same tenor.

Both the TDF and BSP bills are used by the central bank to mop up excess liquidity in the financial system and to better guide market rates towards the policy rate.

“At the Aug. 20 TDF auction, yields were little changed from the previous week,” the BSP said in a statement.

This came even as both tenors were undersubscribed despite the central bank reducing its total offer volume this week.

“The resulting bid-to-cover ratios were 0.66 times for the seven-day tenor and 0.77 times for the 14-day tenor,” the central bank said.

TDF yields were mixed as “the latest RTB offering effectively siphoned off some of the excess peso liquidity from the financial system and could have somewhat sapped future demand for Treasury bills, Treasury bonds, and BSP TDF auctions in the near term since some investors already invested beforehand,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The government raised a total of P507.16 billion via its offering of five-year RTBs that ran from Aug. 5-15, well above the P30-billion target, amid strong demand from retail investors.

Broken down, it raised P425.5 billion in new money, while the remaining P81.65 billion came from the bond exchange component of the offer.

The government raised an initial P210 billion from the RTBs at the rate-setting auction held on Aug. 5. The notes are priced at 6% per annum, payable quarterly.

Mr. Ricafort added that expectations of a third straight BSP rate cut at the Monetary Board’s policy meeting next week also affected TDF yield movements. — Katherine K. Chan

Canvas developer Instructure sets up PHL headquarters

August 21, 2025 | 12:05 am

INSTRUCTURE, a US-based education technology company, has set up its headquarters in the Philippines as part of its expansion in Asia.

“This is the first significant investment that we’ve made in the Asian region in terms of an office,” Harrison Kelly, managing director for APAC at Instructure, told BusinessWorld last week.

“We have a rich customer network here and a bold global expansion plan. The company wanted to look at culturally relevant and geographically focused ways that we could deliver an authentic experience to the Philippines and our broader Asia market,” he added.

Instructure opened its Philippine office in Quezon City on Aug. 12, with over 150 employees. The company is known for developing the learning management system Canvas, which has millions of users across 19 Asian countries.

In the last five years, the company has reported 100% growth in the Philippine market, as many schools relied on Canvas for distance learning during the coronavirus pandemic.

“If we continue to grow and our intent is to grow at the same, if not a faster rate than we have over the last five years, that will unlock immense opportunity across the Philippines,” Mr. Kelly said.

Instructure’s expansion also aligns with the Department of Education and Commission on Higher Education’s push to adopt lifelong learning and credentialing, artificial intelligence (AI), and digital learning in the education sector.

The company is also looking to help more educational institutions adopt AI, citing equity challenges in the country.

“We’ve had a lot of institutes come to us and lean on us for support through what responsible adoption of AI looks like,” Mr. Kelly said.

“What we’re trying to do is work with universities, schools, and government to be able to say, ‘Here are the goals that you’re looking at, here is the AI as a partner, and how it helps achieve those goals,’” he added.

To address digital learning challenges, Instructure also ensures offline access, consistent user experience across devices, and rich integrations to increase student engagement, Mr. Kelly said.

Instructure is also banking on the increased number of Canvas users in the Philippines to help unlock market opportunities in the region, he added.

“We’re seeing a generation of Canvas natives,” he said. “A lot of the employees that we look to hire, invest, and create these opportunities for are Canvas natives and that is a really strong point for us as a company.”

About 66% of Filipino students said they are fairly or very likely to consider more flexible learning options, Instructure said in its 2025 State of Higher Education Report. — Beatriz Marie D. Cruz

Food delivery app lifts up MSMEs

August 21, 2025 | 12:05 am

Spotted Pig, Thai restaurant — OFFICIAL PHOTO FROM SPOTTED PIG

AS A FOOD DELIVERY platform, foodpanda is helping micro, small, and medium enterprises (MSMEs) level up through online delivery.

On Aug. 12, foodpanda showcased homegrown restaurants in Makati City that have partnered with them to offer their food on the platform: Mediterranean joint Hummus Elijah, Siargao-based café Spotted Pig, Thai restaurant Songkran, and pizza pub Nolita Joe’s.

“The rapid rise of food delivery and e-commerce apps during the pandemic was no coincidence,” said Lhecks de Castro, finance director of Foodpanda Philippines.

“As everyone had to stay indoors by default, these delivery platforms became a lifeline for consumers to get food and other essentials, and a lifeline for restaurants to sustain their businesses even with zero foot traffic.”

Late last year, foodpanda also collaborated with GoTyme Bank to put up a loan program for MSMEs. The partnership allowed vendors on the platform to apply for flexible financing for working capital.

“We know fully well how difficult it is to start and sustain a business, especially when it comes to securing the capital that they need to grow. We designed these financing programs precisely with the mom-and-pop stores in mind — to help them turn into the next big restaurant that many Filipinos can enjoy,” said Mr. De Castro.

Other than the loan program, owners of the restaurants at the Makati food crawl credited foodpanda for helping them level the playing field with bigger players by reaching digital customers.

According to the platform, many independent businesses joined their platform “as their first step into e-commerce.”

Spotted Pig café’s marketing manager Isabella Alvarez told BusinessWorld that it was foodpanda that welcomed them to the city back in 2023.

“This is our first branch outside of Siargao. We were very, very new to the city and being on foodpanda helped us get on the map so that people would start ordering from us,” she said. “We really cater more to the office crowd who want coffee and a quick, hearty lunch.”

Their bestsellers include tapa, ginataang pork adobo (cured meat, Filipino-style braised pork with coconut milk), and pastas like chicken pesto, though Ms. Alvarez noted that coffee remains their “highlight product.”

Alongside these fan favorites are pastries that are made in-house, from breads and cakes to their delicious torta cebuanas (a cross between mamon and ensaymada, local pastries) that harken back to the owners’ Cebuano roots.

“Our first café, when we were building it in Siargao, there was a spotted pig, and that’s how we got our name,” said Ms. Alvarez. “It’s cool that that pig has reached all the way here.”

For foodpanda’s Mr. De Castro, these are the stories that they want more of as the platform continues to onboard partner restaurants.

“Ultimately, our vision is to help the MSME sector achieve sustained growth and resilience,” he said. “We want to empower small businesses to scale operations, create more jobs, and contribute to the economy.” — Brontë H. Lacsamana

Jabra launches PanaCast 40 videoconferencing tool in PHL

August 21, 2025 | 12:05 am

JABRA, a Danish audio and video technology brand, has launched its newest video bar system (VBS) in the Philippines, looking to capitalize on the transformation of workplaces and organizations’ need for modern collaborative tools.

Jabra on Tuesday launched the PanaCast 40 VBS, an Android-powered video bar that the brand said mainly caters to small meeting rooms.

“The Filipino workplace is undergoing a transformation, with many organizations reimagining how their spaces can drive productivity and collaboration,” Jabra Philippines Country Manager Larsen G. Sandoval said during the media preview.

“Most companies have previously prioritized large and medium office spaces, but with the return-to-office trend, there has to be more meeting rooms set on smaller scale. Equipping them with the right tools is what we’re going to do in Jabra,” Mr. Sandoval said.

Xuanling Lu, director for global project marketing at Jabra, said increased globalization among companies has highlighted the need for better collaborative tools for teams working from different geographic locations.

“Despite the size of the meeting rooms, the average number of participants at any given time is less than two people,” she said.

“There is a huge opportunity for organizations to understand how their employees are using the real estate space they have, and how they can optimize their space for more people in an office environment.”

The starting price for the Jabra PanaCast 40 VBS with a Jabra Control IP is at P165,000, while the Jabra PanaCast 40 VBS bar only costs P110,000.

The PanaCast 40 VBS is suitable for small rooms that are typically 4.5 meters (m) to 4.5m in size, accommodating four to eight people.

The device has a horizontal field-of-view (FoV) of 180 degrees and a 50-degree vertical FoV, captured by its two eight-megapixel cameras with up to 4x digital zoom.

Its video capabilities are complemented by GN Group’s sound processing abilities. Sounds will come from a single speaker and six microphones with adaptive beamforming and intelligent audio algorithms to ensure accurate voice pick-up.

The device also ensures easy connection to videoconferencing platforms like Zoom, Microsoft Teams, and build-your-own-device deployment options.

Jabra is a brand under GN Group, which provides hearing, audio, video, and gaming solutions across 100 countries. Its other brands include ReSound, SteelSeries, Beltone, Interton, BlueParrott, Danavox, and FalCom. — Beatriz Marie D. Cruz

PBB to expand consumer lending business as it eyes sustained profitability

August 21, 2025 | 12:04 am

PHILIPPINE Business Bank, Inc. (PBB) targets to double its income over the next four years as it looks to grow its consumer business to boost its margins while working towards its goal to upgrade to a universal bank.

“Looking to the future, we are seeing a bigger and more profitable bank… So, notwithstanding the continuous business improvements and initiatives towards growth, we see these [growth] accelerators contributing for us to be able to attain our target, which is to double our income levels within the next four years,” Joseph Jeeben R. Segui, PBB first vice-president and Corporate Planning and Investor Relations Group head, said in a presentation during the Philippine Stock Exchange’s Investor Day held virtually on Wednesday.

PBB booked a net profit of P475.42 million in the second quarter, down from P520.58 million a year ago. For the first semester, its net income increased to P1.07 billion from P1.03 billion.

Mr. Segui said the bank aims to boost its profits by growing its consumer lending business to make up about a third of its portfolio. At present, consumer loans make up just below 10% of its loan book, he said.

“This, we foresee, is a move that will bolster profitability through higher effective loan rates of consumer loan business compared to our core business, which is commercial lending,” he said. “As we’ve seen over the past few years, consumer loans… have really strong demand. And with this strong demand, it can propel both asset size growth as well as margins.”

PBB will select business lines that it believes it can be competitive in and are within its risk appetite, Mr. Segui said, including the teacher loans segment.

He noted that while the bank has taken a more “conservative” approach towards commercial loans due to the volatile operating environment, lending to small and medium enterprises will continue to be PBB’s core business even as it is now looking to diversify into high-margin market segments.

Mr. Segui added that PBB will also continue to explore potential acquisitions and partnerships but will remain “selective.”

“We’ll only pull the trigger if it is a compelling acquisition opportunity. In terms of strategic partnerships, we also continuously look into potential tie-ups or partnerships, and the major consideration being not just the additional funding that could be put into the bank, but, as important, we’d like a partner that can provide strategic value that will help the bank grow its business.”

Ideally, they want a partner that has the expertise, process, and technologies that can help PBB achieve its target to grow its consumer banking business, he said.

Lastly, the bank’s continuing work towards upgrading to a universal bank is also seen as a growth driver as it will allow PBB to tap new business lines, such as bancassurance, investment banking, and wealth management, to expand its customer base and boost its revenues and income, Mr. Segui said.

“We are working towards that, but we are being very deliberate. As our CEO always says, we don’t want to be a unibank just for the name. We want to be a unibank in essence, in terms of our service, in terms of the quality that we provide our clients, value, and in terms of our capabilities. So, we are continuously working on internal improvements to be able to be of that caliber and level to provide unibank-level services to our clients,” he said.

“We continue to be very intentional as we approach this milestone. So, we are headed in this direction, but we are not rushing it. But we are there, continuously working to be the unibank that we believe we have to be for our clients.”

PBB shares went down by 41 centavos or 4.72% to close at P8.28 each on Wednesday. — BVR

AboitizPower sees stronger second half on new capacities, contracts

August 21, 2025 | 12:04 am

ABOITIZ POWER CORP. (AboitizPower) expects stronger earnings in the second half (H2) of the year as new power capacities and contracts begin to contribute to revenues.

“We continue to keep the reliability of our plants, it’s a high priority, and are optimistic that we can bring up plant availability,” AboitizPower Chief Financial Officer Sandro Aboitiz said at a recent earnings results briefing.

New contracts with a total capacity of 800 megawatts (MW) are expected to be delivered within the third quarter, which will start contributing to higher margins, he said.

Mr. Aboitiz also cited ancillary service procurement agreements that recently secured final approval, which carry higher rates.

“We’re also hopeful that we will be able to retroactively recover the difference in the rates when the time we started delivering those contracts. And because the final approval just came in July, we’ll now start to see the impact of that in the second half financials,” he said.

Further, the company is expecting better results with the full operation of all three units of Excellent Energy Resources, Inc. (EERI), which is jointly owned by subsidiaries of AboitizPower, Manila Electric Co., and San Miguel Global Holdings Corp.

For the first six months of the year, AboitizPower’s attributable net income fell by 26% to P12.67 billion from P17.13 billion a year ago.

Operating revenues declined by 8% to P100.24 billion due to lower power generation and fuel costs.

This year, the company has earmarked a capital expenditure budget of P78.1 billion, with 66% allocated for its renewable energy portfolio.

AboitizPower serves as the Aboitiz Group’s investment arm for power generation, distribution, retail electricity, and related energy solutions.

The company aims to expand its total attributable net sellable capacity to 9.2 gigawatts by 2030, with a 50:50 balance between renewable and thermal energy sources. — Sheldeen Joy Talavera

Dining In/Out (08/21/25)

August 21, 2025 | 12:04 am

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Krispy Kreme launches Hogwarts collection

KRISPY KREME, in partnership with Warner Bros. Discovery Global Consumer Products (WBDGCP), is launching a new doughnut collection inspired by Hogwarts School of Witchcraft and Wizardry. Now available for a limited time only, the collection brings the four Hogwarts houses to life through its different flavors. The Gryffindor Doughnut is a shell doughnut filled with cookie butter-flavored Kreme, dipped in red icing and Biscoff cookie crumble, topped with golden icing drizzles and the Gryffindor crest. The Slytherin Doughnut is an Original Glazed doughnut topped with chocolate and green buttercream-flavored swirls, a chocolate cookie sugar blend, and the Slytherin crest. The Hufflepuff Doughnut is a shell doughnut filled with brown butter toffee-flavored custard, dipped in golden yellow icing, and topped with black chocolate drizzle, cookie crunch, and the Hufflepuff crest. The Ravenclaw Doughnut is an Original Glazed doughnut dipped in blueberry-flavored icing, topped with the Ravenclaw sprinkles and crest. Also part of the collection is the new specialty Sorting Hat Doughnut, a doughnut filled with a mystery-colored Kreme representing one of the four Hogwarts Houses, then dipped in chocolate-flavored icing, sprinkled with gold stars and gold sugar, and topped with a Sorting Hat piece. The Sorting Hat doughnut is sold separately in a limited-edition specialty box, while supplies last. Accompanying the doughnuts is the new Golden Snitch Latte, a golden caramel toffee-inspired latte, topped with whipped cream, Biscoff cookie crumble, and a sprinkle of golden shimmer sugar. The collection is available until Sept. 15 in store, for take-out, drive-through, and delivery.

A taste of Singapore in Makati

THE Singapore Tourism Board (STB) is set to bring a flavorful slice of Singapore to Makati with SingaPob, a gastronomic takeover featuring award-winning bars and restaurants that spotlight Singapore’s status as a culinary haven. From Aug. 28 to 31, these hotspots will pop up in dining destinations in Poblacion and Rockwell. Building on the success of its 2023 run, SingaPob returns with a twist. This year, the celebration will bring a fresh mix of tastes and traditions to the table. From casual bites and hawker favorites to crafted cocktails and refined dining, diners will be spoilt for choice. Topping it all off, from Aug. 16 to Sept. 30, STB has partnered with Klook to offer exclusive discounts and promotions for travel to Singapore. The bars, restaurants, and special offerings are: Candlenut x Hapag will have an exclusive tasting menu that celebrates the best of Singapore and Filipino flavors; Keng Eng Kee, started as a family-run hawker stall serving Zi Char dishes and has been recognized by both the Michelin Guide and 50 Best Discovery guide, will be at Super Uncle Claypot; Jigger & Pony, which ranks 3^rd on Asia’s 50 Best Bars 2025 and 5^th on the World’s 50 Best Bars in 2024, will be hosted by OTO; Fura, which earned the Ketel One Sustainable Award at Asia’s 50 Best Bars in 2024 and landing 95^th on the same list in 2025, will be at Aya; the speakeasy Night Hawk, ranked 77^th on Asia’s Best Bars in 2025, will be at a secret location; Mama Diam’s, a speakeasy bar, will be at Polilya; Offtrack, ranked 23^rd among Asia’s 50 Best Bars in 2025, will be hosted by Run Rabbit Run; Origin Bar, ranked 60^th on Asia’s Best Bars in 2025, will be hosted by The Spirits Library; Onlypans Tacqueria, a homegrown taco sensation in Poblacion, will showcase an exclusive menu inspired by Singapore’s rich and diverse food culture. Lucky foodies who go around SingaPob will have a chance to win Klook travel discount vouchers, and an all-expenses-paid culinary trip for two to discover Singapore’s most celebrated dining destinations. Visit www.singapob.com for more information.

Long weekend at Solaire Resort North

MAKE THE MOST of the extended National Heroes’ weekend at Solaire Resort North, with a staycation for the whole family, indulging in some of the best dining options in the north. A staycation package starts at P12,086++ net, which includes a duo of complimentary drinks upon arrival at the Lobby Lounge, and breakfast for the family at Fresh. Enjoy the extended weekend for all bookings made for stay dates scheduled until Sept. 30. Then dine at Solaire North’s many restaurants including Trattoria e Dolci for Italian pizzas, pastas, and charcuterie, and 18 unique gelato flavors to choose from. On Sundays, savor steaks at Café Mangrove with their succulent slices of Slow-Roasted USDA Prime Rib served with classic sides. Enjoy authentic Chinese cuisine at Red Lantern with an exclusive seafood menu. This special seasonal menu is available for lunch daily until Aug. 31. The contemporary flavors of Japan are the focus at Yakumi where the season’s best for the month is the Kamasu or barracuda, available daily with dishes starting at P780++ net. Should weekend plans land on a Sunday, diners can partake in Yakumi’s Sunday Brunch from 11:30 a.m. to 2:30 p.m., with ribeye steaks, seafood teppanyaki, and fresh sashimi. One can sit back and relax at the Pool Café with their Pinoy Plates and Pints menu, offering Filipino meals, and beers to accompany each dish, including Dinakdakan, Sinuglaw, or Pinaputok na Bangus with a choice of local or imported beers. There is also the crowd-favorite buffet, Fresh for a hearty family meal. This August, the focus is on the cuisines of Thailand and Vietnam every weekday at lunch. Enjoy a 360 view of Quezon City while savoring the cuisine of Italy at Finestra. The Regional Cuisine Tour menu highlights the robust and traditional flavors of Calabria, Italy this August from 5:30 to 10:30 p.m. every day. Finally, take the rooftop journey to Skybar for two hours of free-flowing, unlimited classics ranging from sparkling, white, or red wines, cocktails, spirits, and beers ready to accompany each sunset. For guests who prefer non-alcoholic beverages, a selection of juices and sodas are also available. Enjoy the afternoon and sunset at Skybar every Sunday from 2:30 to 7:30 p.m. For reservations and inquiries, visit sn.solaireresort.com or sn.solaireresort.com/offers/quezon-city-86th-anniversary-special-room-offer, call +632 8888 8888, or e-mail snrestaurantevents@solaireresort.com to book a table.

40% off all ramen at Dohtonbori SM North EDSA

IN CELEBRATION of SM Supermalls’ 40^th anniversary, Dohtonbori SM North EDSA is treating ramen lovers to a 40% discount on all ramen dishes for 40 days from Aug. 1 to Sept. 9. One of Dohtonbori’s best-sellers, the Tonkotsu Ramen is made from rich pork bone broth, resulting in a creamy and hearty base topped with tender pork slices, and cooked-to-perfection noodles. For those who prefer a lighter option, the Shoyu Ramen highlights the savory depth of soy sauce. Spice lovers can indulge in the Spicy Tonkotsu Ramen, a twist on the classic tonkotsu, topped with minced pork and infused with a special blend of spices that adds a fiery kick to its creamy broth. Dohtonbori Philippines is also the only restaurant in the country where guests can cook their own okonomiyaki, Japan’s savory pancake, right at their table. This special offer is exclusively available for dine-in customers at Dohtonbori SM North EDSA branch only.

Baguio’s Mile Hi to reopen

THE HISTORIC Mile Hi complex inside Baguio’s Camp John Hay makes a comeback after remaining nonoperational for six years. Luigi Nuñez, chief executive officer of the BBZ Group of Companies, has teamed up with the Bases Conversion and Development Authority (BCDA) and John Hay Management Corp. (JHMC) to revive the Mile Hi complex as a go-to destination in Baguio which will simultaneously contribute to the local community and tourism in the city. Already launched is the Mile Hi Grill, along with In-Bento Yakitori and Ramen, the homegrown Hay & Co. Coffee, and the return of the beloved Mile Hi Diner. Mile Hi is also envisioned as a weekend market where Baguio’s farmers and artisans can sell directly. While the contract is short-term in nature, the intent is long-lasting: to draw the community back to Camp John Hay, and set the tone for what could be a deeper, more permanent transformation. With this endeavor, the BBZ Group hopes to offer a renewed sense of pride, purpose, and possibility for the people of Baguio, and for generations who remember what Mile Hi once was.

Coca-Cola opens kiosks at LRT stations

COCA-COLA Europacific Aboitiz Philippines (CCEAP) has launched new Coca-Cola Refresh Stations in the Baclaran, EDSA, Blumentritt, Fernando Poe, Jr., and Balintawak stations along LRT Line 1. The new LRT-1 Coca-Cola Refresh Stations offer commuters a wide range of iconic beverages, including Coca-Cola, Royal, Sprite, Wilkins, Minute Maid, Fuze Tea, and Nutriboost.