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Bohol, Agusan del Norte ports get P1B

THE Philippine Ports Authority (PPA) is allocating nearly P1 billion for the upgrade and expansion of two ports in Bohol and Agusan del Norte.

In a bid notice on Thursday, the port regulator invited interested parties to submit bids for the P530.97-million Nasipit Port expansion and upgrade project in Agusan del Norte, and the P441.56-million Jagna Port expansion project in Bohol.

Interested parties can submit proposals for the two port projects until Dec. 18, the port regulator said, noting that bidders must have completed projects of the same kind to qualify for the bidding.

PPA said cargo and passenger traffic this year have been stronger than expected, with targets expected to be exceeded when demand peaks in the fourth quarter.

The port regulator is targeting cargo throughput of 301.47 million metric tons, while container volume is anticipated to top eight million twenty-foot equivalent units  by year’s end.

Jagna Port is crucial to boost activities as it serves as the gateway to Mindanao and Visayas by linking Bohol to key port areas, and enhancing inter-island trade.

Meanwhile, Nasipit Port in Agusan del Norte serves as a major seaport, handling both international and domestic operations, including the export of agricultural products.

In 2024, the PPA said it had earmarked up to P16 billion for infrastructure projects until 2028. The funds will be allocated for enhancing port efficiency and capacity, including 14 big-ticket projects targeted for completion within the period.

For this year, the PPA expects to complete at least four port projects valued at a combined P1.56 billion. These include the P426.18-million Salomague Port expansion project in Cabugao, Ilocos Sur; the P155.96-million San Andres Port expansion and improvement project; the upgrade of Banago Port in Negros Occidental; and the expansion of Balingoan Port in Cagayan de Oro. — Ashley Erika O. Jose

Heavy rains battering Apayao

STOCK PHOTO | Image by Bruno from Pixabay

BAGUIO CITY — Classes and work in all public and private schools across Apayao province have been suspended on Thursday (Nov. 27) due to continuous heavy rainfall.

The Provincial Government of Apayao emphasized that the suspension kept students and school personnel safe from possible flooding and hazardous travel conditions.

Gov. Elias C. Bulut, Jr. ordered the province-wide suspension as the state weather bureau released a heavy rainfall warning on Thursday, placing Calanasan, Luna, and Santa Marcela towns under Orange Warning.

Flora and Pudtol in Apayao, along with several towns in neighboring Cagayan, were placed under the Yellow Warning, where flooding and landslides were possible.

The Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) also reported light to moderate, and at times heavy rains in parts of Batanes, Ilocos Norte, Isabela, Quirino, Aurora, and Nueva Vizcaya, which may last for the next two to three hours.

Similar weather conditions are expected to spread across the rest of Ilocos Region, Cordillera, Cagayan Valley, and remaining areas of Apayao and Aurora.

Residents on mountain slopes were urged to prepare for possible landslides, mudslides, rockslides, and flash floods.

The Apayao Provincial Disaster Risk Reduction and Management Office continues to monitor rivers, road conditions, and landslide-prone zones, with emergency teams on standby for any needed response.

Some residents have reported rising water levels, though no major incidents have been officially confirmed. Schools were also advised to postpone all scheduled activities for the day. — Artemio A. Dumlao

P1.9-M smuggled cigarettes seized from BARMM cop

REUTERS

COTABATO CITY — Policemen early on Thursday foiled an attempt by a police staff sergeant and an accomplice to deliver P1.9 million worth of cigarettes from Indonesia to their contacts in Marawi City.

The policeman and his male cohort were together in a white Toyota Hi-Ace van and fully loaded with Indonesia-made cigarettes, when they were intercepted by police anti-smuggling operatives at a checkpoint along a stretch of a highway in the seaside Malabang town in Lanao del Sur.

The now detained policeman belongs to a unit in Malabang of the Lanao del Sur Provincial Police Office.

Brig. Gen. Jaysen C. De Guzman, director of the Police Regional Office-Bangsamoro Autonomous Region (PRO-BAR), told reporters on Thursday morning that combined personnel of different PRO-BAR units flagged down the vehicle of the duo only for a routine inspection, but immediately held them when they discovered that it was fully loaded with boxes containing Indonesian-made cigarettes.

Mr. De Guzman said the police staff sergeant and his companion are now both locked in a detention facility, awaiting prosecution in court.

“We shall prosecute him for smuggling of cigarettes and file a separate administrative case against him so he would be terminated from the police service. We do not tolerate abuses by our personnel in all areas in the Bangsamoro region,” Mr. De Guzman said.

Mr. De Guzman said they will turn over to the confiscated smuggled cigarettes for proper disposition to the Bureau of Customs. — John Felix M. Unson

PHL shares slip again as investors pocket gains

BW FILE PHOTO

PHILIPPINE STOCKS dropped anew on Thursday as investors pocketed their gains from the market’s recovery and lingering concerns over the economy’s state.

The bellwether Philippine Stock Exchange index (PSEi) fell by 0.59% or 35.57 points to close at 5,969.13, while the broader all shares index decreased by 0.24% or 8.54 points to end at 3,538.11.

The PSEi opened the session at 6,005.45, a shade better than Wednesday’s finish of 6,004.70. However, this was already its intraday peak. It fell to a low of 5,929.67 and was unable to return above the 6,000 line before the closing bell.

The market has been alternating between gains and losses in the past few days after the index hit a one-month high of 6,021.59 on Monday.

“Philippine equities bucked the regional upswing as the index took another breather following the recent four-day rally,” AP Securities, Inc. said in a market note.

“The PSEi closed lower as investors locked in gains from the previous session. Sentiment also softened amid caution over Fitch’s recent warning on potential risks to the Philippines’ credit standing. The concern raised added pressure as markets weighed its possible impact on economic performance,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

Fitch Ratings said in a report on Wednesday that political concerns could pose a risk to emerging markets in Asia Pacific, including the Philippines, noting how the corruption scandal involving flood control projects affected economic growth in the third quarter.

Fitch rates the Philippines at “BBB” with a stable outlook.

Meanwhile, on Thursday, S&P Global Ratings affirmed its “BBB+” long-term sovereign credit rating for the country and its positive outlook.

It said that while the slowdown in public investment due to the flood-control probe has affected economic growth, they expect the impact to be temporary as long-term prospects remain “healthy.”

“Despite heightened political pressures, we believe the government will continue to adhere to the well-established medium-term fiscal framework that has delivered constructive development outcomes.”

Most sectoral indices declined on Thursday. Financials slumped by 2.2% or 44.70 points to 1,978.85; services decreased by 1.44% or 34.88 points to 2,375.08; mining and oil went down by 1.24% or 166.26 points to 13,187.42; industrials fell by 0.83% or 72.25 points to 8,549.77; and property slipped by 0.08% or 1.81 points to 2,208.95. Meanwhile, holding firms jumped by 2.01% or 94.38 points to 4,772.53.

Decliners outnumbered advancers, 110 to 80, while 63 names were unchanged.

Value turnover went down to P5.58 billion on Thursday with 1.31 billion shares traded from the P12.25 billion with 1.19 billion issues exchanged on Wednesday.

Net foreign selling was at P1.01 billion, a reversal of the P2.38 billion in net buying on Wednesday. — A.G.C. Magno

Slump in building materials to run until Q1 — cement industry

PHILSTAR FILE PHOTO

THE infrastructure corruption scandal is expected to dampen sales of construction materials into early next year, the Cement Manufacturers Association of the Philippines, Inc. (CeMAP) said.

John Reinier H. Dizon, president of CeMAP, said sales have slowed since the corruption in flood control projects was called out by President Ferdinand R. Marcos, Jr. in July.

“Based on our estimates, the share of government projects or government cement consumption is anywhere from 30% to 40% of total cement demand,” he said.

“What we have witnessed since they unraveled this issue is that there’s been a bit of a slowdown, and the impact within that 40% is anywhere from a 5-10% reduction,” he added.

Next year, he said the government will want to resume spending on infrastructure.

“Maybe this sounds like a safe answer, but it’s a sincere answer. Right now it’s wait and see. But it’s a range. It can be, in the worst-case scenario, probably  5% in the first quarter next year,” he said.

“In the best case scenario, it’s flat. But I don’t think we can see any growth immediately by the first quarter because they’re still normalizing many positions,” he added, citing the need to fill up positions in the Department of Public Works and Highways.

The slowdown in sales resulted from the investigations ordered into government projects as well as the suspension of the issuance of Philippine Contractors Accreditation Board (PCAB) licenses, which are needed by contractors to take on projects.

“In our understanding, the former commissioners left or resigned. We’re not exactly sure of the status. I think one commissioner has been appointed, but I think they need three,” he said.

“That’s still unknown to us. It is crucial to reconstitute the PCAB because I understand the licenses are given every two to three years. They need to normalize that part,” he added.

He said CeMAP sees demand from the residential segment continuing to drive sales for the cement industry.

“Within the pie of total cement demand, approximately 40-50% is the residential market. We think that should be stable because of our demographics and housing demand. We have a 10 million housing unit shortage, so the demand for that area should still be stable,” he said.

“The government is still a big piece, about 30-40%, and then you have the commercial part. The malls, etc., and that is a function of confidence levels,” he added. — Justine Irish D. Tabile

Eastern Visayas wage board raises daily pay by P35

PHILIPPINE STAR/NOEL B. PABALATE

THE Regional Tripartite Wages and Productivity Board of the Eastern Visayas raised the daily wage by P35 for both minimum wage earners and domestic workers starting Dec. 8.

The Department of Labor and Employment (DoLE) said the increases are detailed in Wage Order Nos. RB VIII-25 and RB VIII-DW-06, which were reviewed and affirmed by the National Wages and Productivity Commission (NWPC) on Nov. 18. The orders cover an estimated 114,126 minimum wage earners and 57,081 domestic workers in the region.

“Minimum wage earners in all sectors will see daily increases of P35,” DoLE said in a statement.

After the wage hike takes effect, the minimum wage will rise to P440 per day for workers in agriculture, cottage and handicraft industries, and retail/service establishments with 10 employees or less — equivalent to P11,477 per month.

For non-agriculture jobs and retail/service establishments with 11 or more employees, daily pay will increase to P470, or P12,259 per month.

DoLE said roughly 162,501 full-time workers earning above the minimum wage are also expected to benefit indirectly when employers address wage distortions created by the narrowing or disappearance of pay differentials within the company’s ranks.

Domestic workers, or kasambahays, were also granted monthly increases, with those in chartered cities and first-class municipalities receiving P400, and those in other municipalities getting P300. This brings the occupation group’s monthly minimum wage to P6,400 and P5,800, respectively.

Retail and service establishments employing 10 workers or less, as well as businesses affected by disasters, natural or otherwise, may apply for exemption from the wage increase until Feb. 5, 2026.

Barangay Micro Business Enterprises with valid certificates from the Department of Trade and Industry remain exempt from minimum wage rules. — Erika Mae P. Sinaking

956 MW in new power capacity, 160 MW storage added to grid

BW FILE PHOTO

SOME 956 megawatts (MW) of new capacity was added to the power grid so far this year, as well as 160 MW in new energy storage systems, the Department of Energy (DoE) said.

In a statement on Thursday, the DoE said the additions consisted of 12 renewable-energy power plants, an oil-based power plant, and a natural gas-fired power plant, most of which started commissioning in the second half of the year.

Meanwhile, the DoE said the rollout of energy storage capacity enhances grid stability and resilience, as these store excess electricity during off-peak hours and releasing it when demand is high.

It said that these systems help smooth fluctuations, reduce dependence on expensive peaking plants, and support the integration of more renewable energy into the power mix.

The Philippines hopes to increase the share of renewable energy into the power mix to 35% by 2030 and 50% by 2040.

“By combining renewable energy projects with flexible conventional plants and modern energy storage, we are building an energy system that is cleaner, more reliable, and more resilient,” Energy Secretary Sharon S. Garin said.

The DoE said the new capacity represents some of the first few projects that will help the administration achieve its goal of constructing 200 power plants.

The DoE has committed to work with the private sector, regulators, and other industry participants to accelerate project implementation, streamline permits, and ensure that future capacity expansions support energy security, affordability, and a just transition. — Sheldeen Joy Talavera

Recto tax amnesty proposal seen providing relief while DoF grapples with audit abuses

THE FEDERATION of Philippine Industries (FPI) said a tax amnesty floated by the previous secretary of the Department of Finance (DoF) could be a good starting point as the department grapples with the issue of revenue officers abusing their authority when inspecting taxpayers’ books.

FPI President John Reinier H. Dizon said former Finance Secretary Ralph G. Recto had proposed the tax amnesty earlier this year. Shortly after he left the department, his successor, Secretary Frederick D. Go, presided over the suspension of field audits in response to instances of alleged extortion by Bureau of Internal Revenue (BIR) examiners.

“I do not know the status of (the amnesty) but I think that is a good starting point because some companies struggle with documentation,” he told reporters on the sidelines of the BusinessWorld Forecast 2026.

“An amnesty program to restart the entire thing is also maybe interesting for many businesses and companies,” he added, referring to the reform of the Letter of Authority (LoA)system, the document which the BIR issues when assigning revenue officers to examine taxpayers’ books

In August, Mr. Recto floated a new general tax amnesty, which will also include the extension of the estate tax amnesty.

On Wednesday, the House Ways and Means Committee approved an unnumbered substitute bill which consolidated five measures seeking to extend estate tax amnesty to Dec. 31, 2028.

Under the bill, heirs of individuals who died on or before Dec. 31, 2024, will be eligible to avail of the estate tax amnesty.

Meanwhile, similar bills were filed in the Senate and are awaiting committee disposition.

Separately, the European Chamber of Commerce of the Philippines (ECCP) said it welcomes the suspension of the field audits, including the system of issuing LoAs and mission orders to revenue officers.

“This measure reflects the administration’s commitment to good governance, as well as its responsiveness to long-standing concerns from the business community regarding predictability, transparency, consistency, and integrity in the tax audit process,” it said in a statement Thursday.

The ECCP also expressed its willingness to work with the newly created technical working group and provide industry insights and expertise.

“We are confident that these reforms will contribute to an audit system that protects taxpayer rights while enabling the BIR to meet its revenue objectives through fair and transparent processes,” it added. — Justine Irish D. Tabile

ERC hopes to complete NGCP rate reset in 2026

BW FILE PHOTO

THE ENERGY Regulatory Commission (ERC) said it hopes to resolve the rate review of the National Grid Corp. of the Philippines (NGCP) for the fifth regulatory period (5RP) by early next year.

“We are targeting to finish it as early as possible,” ERC Chairman and Chief Executive Officer Francis Saturnino Juan told reporters, referring to the 5RP, which covers the years 2023-2027.

Mr. Juan said the ERC is deliberating the NGCP revenue application to determine which policies or decisions to apply.

“And then based on these policies, we will calculate and then we will go back to the commission meeting,” he said. “We will discuss again until we are able to decide all the components of the rate. And then we can come out win a final determination.”

The Electric Power Industry Reform Act tasks the ERC to establish a method for setting transmission and distribution wheeling rates. The rates must be set in a way that allows the recovery of “just and reasonable costs and a reasonable return on rate base” to enable the entity to operate viably.

The rate reset process is usually a forward-looking exercise that requires the regulated entity to submit forecast expenditures and proposed projects.

In April, the ERC rendered its decision on NGCP’s 4RP, covering the years 2016-2022, allowing the company to collect a total under-recovery of P28.3 billion from consumers.

The NGCP is the country’s sole grid operator. Holding a congressional 50-year franchise, the company has the right to operate and maintain the transmission system and related facilities.  —  Sheldeen Joy Talavera

16 companies recognized for 100% plastic recovery rate

REUTERS

SIXTEEN companies and organizations that recovered the equivalent of 100% of their post-consumer plastic waste in 2025 were recognized at the PCX Markets’ PULSE event Thursday.

“Responsible action is possible. When companies commit to verified recovery of 100% of their plastic footprint, we can turn the tide on plastic waste and create lasting impact for people and planet,” Nanette Medved-Po, founder and executive chair of PCX, said at the event.

The companies that posted 100% plastic recovery rates were Beko Pilipinas Corp., Century Pacific Food, Inc., Concepcion Durables, Inc., Concepcion Midea, Inc., Concepcion-Carrier Air Conditioning Co., Concepcion Industrial Corp. – Cortex Technologies Corp., Domino’s Pizza Philippines, Generation Hope, Inc. (HOPE), General Odyssey, Inc., L’Oréal Philippines Inc., Mitsubishi Motors Philippines Corp., Monde Nissin Corp., Mondelez Philippines, Inc., Mr. DIY, The Pacific Meat Company Inc., and Wildflour Bakery + Cafe Corp.

Republic Act. No. 11898, or the Extended Producers Responsibility (EPR) Act of 2022, requires large companies to take responsibility for the post-consumer management of their plastic packaging waste.

PCX Markets helps companies achieve their plastic recovery goals by offering a suite of plastic responsibility tools, including EPR compliance software, verified recycled resins, and a platform for purchasing verified plastic credits that fund the collection, transport and processing of plastic waste.

In 2024, PCX Markets enabled the recovery and diversion of 160,000 metric tons of plastic waste from around the world, through 44 projects and 238 companies in 14 countries, including the Philippines.

The Department of Environment and Natural Resources (DENR) urged other companies to follow the 16 companies’ example.

“Your achievements highlight what is possible when enterprises embrace responsibility, not just as a compliance requirement, but as a part of your long-term sustainability strategy,” Environmental Management Bureau Assistant Director Maria Dorica Naz-Hipe said at the event.

PCX Markets also highlighted its “Aling Tindera” program, which consists of partnerships with sari-sari stores that serve as community waste collection points that give out cash to participating consumers who turn in their plastic waste. Collected plastic waste is then either recycled or processed into new materials.

Companies seeking to fund downstream plastic waste recovery can purchase credits issued by the Aling Tindera program.

According to PCX, only about 9% of waste worldwide is recycled and 19% is incinerated. Approximately 72% is dumped in landfills, openly burned, or ends up in the environment. — Vonn Andrei E. Villamiel

PHL dairy demand, output seen rising in 2026; import growth to slow down

REUTERS

PHILIPPINE dairy demand is expected to increase in 2026, while the growth of imports is likely to slow down due to an increase in domestic production, according to the US Department of Agriculture (USDA).

The USDA projects that dairy consumption in the Philippines will increase 1.5% to 3.54 million metric tons (MT) in 2026, driven by a growing population and an expanding middle class.

“Middle-class households spend a higher percentage of their income on dairy products … As incomes grow among the middle class, spending can increase up to nine times for milk and dairy products,” the USDA report said, citing the Philippine Statistics Authority (PSA).

The USDA said rising consumption is also supported by infrastructure investments, particularly in cold chain facilities, supermarkets and display areas.

For liquid or ready-to-drink (RTD) milk, growth will be driven by the expansion of the government’s milk feeding program (MFP) and strong food service growth, especially in the coffee shop industry, takeout and delivery services.

The market for RTD milk is growing as a result of Republic Acts (RA) No. 11037 and RA 11148, requiring investment in the MFP to benefit preschoolers and malnourished school children. According to the USDA, around 60% of domestic fresh milk production goes to the MFP program, and the remainder to local commercial sales or household consumption.

The USDA projected 1.5% growth in dairy imports in 2026, decelerating from 20% growth recorded in 2024.

The Philippines imports 99% of its dairy requirements as domestic production cannot meet demand. “The Philippine dairy market remains competitive, with the US and New Zealand having the largest shares, followed by Indonesia, Australia and Denmark,” the USDA said.

The USDA forecasts domestic dairy production to grow 3% to 37,000 MT in 2026, supported by an increase in the dairy herd and the active implementation of the government’s dairy development projects.

The Philippine National Dairy Authority and the Philippine Carabao Center are rolling out various projects to increase the herd and boost milk production. The program includes the establishment of stock farms and feed centers, community-based farm enterprise development, and various dairy food safety projects.

The Department of Agriculture (DA) earlier said it set a target of 5% of the Philippines’ dairy requirements to be serviced by domestic production within the next two or three years. — Vonn Andrei E. Villamiel

BCDA signs Clark golf, residential project deal with KOREIT

THE BASES Conversion and Development Authority (BCDA) signed a P5.1-billion agreement with a South Korean real estate investment management firm for a golf course and residential villa estate in New Clark City.

Under the agreement, the BCDA, Korea Real Estate Investment & Trust (KOREIT) Asset Management, and Sky Blue New Clark City Golf & Resort Corp. will develop a 150-hectare estate within the BCDA property.

“(The) development is set to create 1,200 direct and indirect jobs and boost the Philippines’ sport and tourism infrastructure,” the BCDA said in a statement Thursday.

The project, which will begin commercial operations by the first quarter of next year, will include an 18-hole championship golf course and clubhouse, a nine-hole extension and supporting facilities, and residential villas and related amenities.

It will be fully developed and managed by KOREIT through its Philippine subsidiaries Eagle-K GC Corp. and Eagle-K RV Corp.

BCDA President and Chief Executive Officer Joshua M. Bingcang said the partnership “reflects growing interest from international institutional investors in New Clark City’s long-term development plan.”

“KOREIT’s entry shows the level of confidence that major global investors place in New Clark City. This strengthens our investment pipeline and supports our goal of building competitive, sustainable growth centers,” he added.

The project is expected to generate economic activity in Tarlac and nearby areas, supporting local businesses and employment.

“The development is also projected to attract both domestic and international visitors, positioning New Clark City as a rising sports and lifestyle destination,” he said.

“This project goes beyond building new facilities. It creates jobs, opens opportunities for local communities, and supports regional growth. It is another step in making New Clark City a world-class, sustainable district,” he added. — Justine Irish D. Tabile

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