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ERC sets final prices for 4th green energy auction

STOCK PHOTO | Image by jcomp from Freepik

THE Energy Regulatory Commission (ERC) has issued the final ceiling prices for the fourth round of the Green Energy Auction (GEA-4), which will offer 10,653 megawatts (MW) of renewable energy (RE) capacities.

In a resolution, the ERC set the green energy auction reserve (GEAR) price at P5.68 per kilowatt-hour (kWh) for ground-mounted solar, P4.4832 per kWh for rooftop solar, and P6.5258 per kWh for floating solar.

For other technologies, the commission set the GEAR price at P6.0859 per kWh for onshore wind and P5.4028 per kWh for solar systems equipped with energy storage.

The GEAR price serves as the maximum price in pesos per kWh that will be used as the basis for bid offers during the auction.

Most of the final prices are higher than the preliminary figures after the ERC received comments from stakeholders and conducted public consultations.

In a recent advisory, the Department of Energy (DoE) raised the total capacity for floating solar in the Visayas due to regional demand and increased investor interest.

Under GEA-4, developers may compete for 3,940 MW of ground-mounted solar, 48 MW of rooftop solar, 3,175 MW of floating solar, 2,390 MW of onshore wind, and 1,100 MW of solar with energy storage.

In a statement on Saturday, the DoE said the auction proper is scheduled for Sept. 2. The list of winning bidders will be released on Oct. 22.

As a flagship government initiative, the program is expected to support the target of increasing the RE share in the country’s power generation mix to 35% by 2030.

“With over 10 gigawatts of solar and wind capacity up for auction — targeted for commercial operations from 2026 to 2029 — this round aims to boost the RE share in the country’s energy mix, strengthen grid reliability, and ensure energy security,” the DoE said.

“GEA-4 not only promotes increased investment in RE, but also affirms the DoE’s commitment to competitive, transparent, and efficient energy procurement practices,” it added. — Sheldeen Joy Talavera

Motoring ahead

The Manila International Auto Show, surely one of the barometers of automotive interest and appetite, was again well-attended this year. — PHOTO BY KAP MACEDA AGUILA

PHL auto sales still in ‘Drive’ mode

THE PHILIPPINE automotive industry continues in its drive to motorization. For the first four months of 2025, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI); Truck Manufacturers Association (TMA); and Association of Vehicle Importers and Distributors (AVID) jointly reported that sales are up by 2.5% (versus the same period last year) to 150,654 units.

Independent vehicle importers and distributors that are not members of the abovementioned automotive associations are estimated to add another 5,000 to 6,000 units to the market, taking growth to around six to seven percent from January to April 2025.

The sustained growth trajectory is on the back of a 20% average rise in sales from 2020 to 2023 and an 8% expansion in 2024 that led to a new sales record for the Philippine auto industry of just over 475,000 units last year. In fact, the Philippine auto market has been a bright spot in the Association of Southeast Asian Nations (ASEAN) region, exhibiting consistent growth and resiliency while other markets experienced significant swings.

From January to March 2025, perennial market leaders Thailand and Indonesia have, in fact, registered continued drops in auto sales of 7% and 5%, respectively, on the back of double-digit declines in the past two years. A report by The Nation (Thailand) quoting Nikkei Asia figures revealed that vehicle sales in the first quarter of the year for the so called ASEAN-5 — Thailand, Indonesia, Malaysia, Vietnam, and the Philippines — declined by 1.7% to 732,898 units. This was despite a strong showing by Vietnam with a 24% growth in sales.

This year, CAMPI and TMA estimate that annual vehicle sales will top the 500,000 mark — a new milestone for the industry. This will put the Philippines in the same league as Thailand, Indonesia, and Malaysia with markets in excess of half-a-million units. Interestingly, auto sales in the Philippines directly correlate to the movement in the country’s per-capita gross domestic product (GDP) that has grown by an average of 5.2% over the past four years since the pandemic. So, as the economy continues in its trajectory toward making ours an upper-middle-income country by 2027, it is expected that auto sales will continue to rise. Add to this the demographic bonus resulting from a young population that is now graduating into the workforce, and we have a reasonably sustainable growth curve for auto sales.

As more Filipinos enter the ranks of the labor force, they can establish their credit credentials. This grows access to consumer credit which is another strong driver of auto sales. Additionally, the prospects of more unbanked Filipinos moving into the banked community are high. A BusinessWorld report by Abigail Yraola quoted a study by Euromonitor International showing the Philippines as having an unbanked and underserved population of 76% compared to 67% in Indonesia, 47% in Vietnam and only 25% in Thailand. If the Banko Sentral ng Pilipinas (BSP) is successful in bringing banking and contactless payments to more Filipinos, this will significantly increase our banked population, enable higher consumption and, surely, more consumer loans as well.

Household debt as a percentage of GDP in the Philippines is still low compared to other ASEAN countries. Statistics from CEIC Data show that Thailand has the highest ratio at 88.8%. This is a significant contributor to the drop in its auto sales since credit extension has tightened quite severely because of increased loan defaults. Malaysia comes second with an 84.2% ratio, followed by Vietnam at 33.8%. Meantime, the Philippines posted only 11.7% household debt-to-GDP ratio in December 2024. This indicates an encouraging runway for auto loans, albeit with very judicious credit approvals by banks and financing institutions to avoid inordinate vehicle repossessions.

Another upside to the market is the growing demand for electrified vehicles (EVs). The share of EVs in the market has increased from 5% last year to 8% in the first trimester of 2025. The recent addition of plug-in hybrids (PHEVs) to the suite of electrified product offerings has activated a new segment of buyers, accounting for 42% of the EV market this year. Hybrid electric vehicles (HEVs), on the other hand, account for a larger 52% of the segment while battery electric vehicles (BEVs) make up the remaining 8%. Sales of EVs are expected to pick up even more with the recent announcement of government to reinstate the odd-even coding scheme during the implementation of the “Rebuild EDSA” project — recently postponed by at least a month upon the order of President Marcos.

However, encouraging as the auto industry fundamentals are for the Philippines, we should not ignore the growing turmoil in geoeconomics and their possible impact on the local auto industry. For one, China’s economic recovery is still not as robust as expected. Trading Economics reported that GDP in China grew by 5.3% in 2023 and 2024. In the first quarter of 2025, it remained fairly flat at 5.4%. This is perhaps a primary reason for them to export their excess economic capacity including for automobiles. Although China remains a top trade partner for the Philippines, we are not as heavily dependent on exports as our ASEAN neighbors. The Philippine GDP is 70% driven by domestic consumption. Therefore, China’s slow recovery has impacted us less than our neighbors. We should not underestimate the fallout, though.

Another destabilizing factor, of course, is the US Trade Diplomacy under President Trump that is undermining global economic activity. Although it can be argued that the disruptive “Liberation Day” tariff rates have not really gone into effect yet — except for the 25% increase on autos and a 10% baseline tariff rise — it is, perhaps, the very uncertainty of the on-again, off-again tariffs that is even more devastating and disruptive. Businesses are unable to plan, supply chains are in suspense, and capital expenditures are put on hold. This is quite a toxic elixir for the global economy. As an import dependent economy, we are vulnerable to a full-blown trade war that will likely result to higher prices, a potential slowdown in consumption and, consequently, a slide in economic growth. Stagflation is everyone’s worst-case scenario here.

With the national elections behind us, government spending expected to resume, inflation remaining low, the Philippine Peso holding its value and interest rates on the downtrend, there are many reasons to believe the 500,000 auto sales mark will be breached this year. Early reports for vehicle sales in May show a significant comeback from a lethargic April but still trailing the same month last year. The market seems to be burning off its recovery thrust and transitioning to a more measured pace going forward — a good sign of a more sustainable trajectory.

PSEi could hit 7,000 by yearend amid tariff uncertainties

PHILIPPINE STAR/KRIZ JOHN ROSALES

By Revin Mikhael D. Ochave, Reporter

THE BENCHMARK Philippine Stock Exchange index (PSEi) could reach the 7,000 level by yearend, fueled by investor optimism over expected earnings growth among listed companies, despite uncertainties related to global trade, according to some analysts.

“Despite our expectations that valuations will continue to persist below long-term averages given heightened trade policy and global growth uncertainties, we still think there remains scope for the PSEi to recover back to at least the 7,000 level amid expectations of sustained earnings growth in listed companies,” China Bank Securities Corp. Research Director Rastine Mackie D. Mercado said in an e-mail interview.

“Over the next few weeks, we think that the PSEi could consolidate between 6,300 and 6,600 as it builds a base for its next major move,” he added.

On Friday, the PSEi rose by 0.22% or 14.27 points to close at 6,395.59, while the broader all shares index gained 0.24% or 9.12 points to end at 3,785.31.

Week on week, the PSEi increased by 0.29% or 18.80 points from its 6,376.79 finish on June 5.

DragonFi Securities, Inc. Equity Research Analyst Jarrod Leighton M. Tin said in a Viber message that the PSEi could reach 6,700 by the end of the year.

“My conservative guess is 6,700 yearend. I feel that the worst has already been priced in when the PSEi hit a 52-week low of around 5,800 with Trump’s Liberation Day. Since then, tariffs have significantly come down and trade deals are being made,” he said.

“With the Bangko Sentral ng Pilipinas (BSP) having room for two more rate cuts this year as well as a declining trend in the reserve requirement ratio (RRR), I feel that the PSEi has ample room for upside,” he added.

Analysts expect a 25-basis-point rate cut at the BSP’s policy meeting on Thursday (June 19), as inflation slowed to 1.3% in May from 1.4% in April amid lower utility costs.

BDO Capital & Investment Corp. President Eduardo V. Francisco said in an interview that the PSEi could “realistically” reach 6,600 to 6,700 this year.

“It will go sideways. The underlying [factor] is the global concerns,” he said.

“While the Trump tariffs are still there, unless there’s a resolution, I don’t think it will change significantly. I don’t think it will reach 7,000 unless the US resolves its dispute with China,” he added.

BPI Securities Corp. said in a statement that the PSEi could settle at 7,300 by end-2025, lower than its initial forecast of 7,600, due to supply shocks caused by the ongoing trade war.

“Global economic uncertainties arising from US tariff measures continue to weigh on investor confidence. The local market also faced an uphill climb following weaker-than-expected first-quarter gross domestic product results and a lackluster corporate earnings season,” it said.

Mr. Mercado said investors should monitor consumer and banking stocks amid slowing inflation.

“We think that the consumer and banking sectors could lead growth given expectations of continued consumption recovery amid stable and low inflation and improving credit demand as policy rates continue to ease,” he said.

BPI Securities said its top picks include Ayala Corp. and SM Investments Corp., which may benefit from a rebound in consumption and spending. It also cited Century Pacific Food, Inc. and Converge ICT Solutions, Inc. as major players in expanding markets with “dynamic growth strategies.”

Other recommended stocks for dividend-yield-focused investors include Manila Water Company, Inc., Puregold Price Club, Inc., and RL Commercial REIT, Inc.

The age of the multi-brand mobile showroom is here

BAIC B30e Dune — PHOTO BY MANNY N. DE LOS REYES

UAAGI ‘On The Move’ goes to Mall of Asia

THERE’S AN age-old axiom in business that says, “Come to the customer; don’t wait for the customer to come to you.”

In this cutthroat era of car sales, that’s a saying that many car companies are taking to heart. A car display in a mall is now a common sight — the smaller ones usually conducted by a local dealer; the bigger ones by the distributor itself.

But there’s one distributor that’s evolving the game a step further. It’s United Asia Automotive Group, Inc. (UAAGI) and it’s bringing its formidable array of five brands to some of the biggest malls in Metro Manila — SM Mall of Asia and SM Megamall, for a start. And that’s just the initial two legs of what it calls the “UAAGI On The Move” roadshow mall tour (kicking off this year last February at the Fashion Hall of Megamall).

More recently, UAAGI On The Move transformed Mall of Asia’s Central Atrium into a dynamic showcase featuring close to a dozen of UAAGI’s various models. The “one-stop-shop auto mall” experience featured vehicles from BAIC, Chery, Foton, Lynk & Co, and Jetour.

With such a diverse range of brands and models, the roadshow aims to bring a true car show-like experience directly to fans and prospective buyers.

The recent Mall of Asia display lineup was composed mostly of crossovers and SUVs, with one pickup truck sharing the stage. Those vehicles were the BAIC’s B30e Dune and B40 Ragnar; Chery’s Tiggo Grand Tour and Tiggo REV; Foton’s Tunland V9 4×4 AT full-size diesel hybrid pickup; Lynk & Co’s 01 PHEV, 02 EV, and 06 crossovers; and Jetour’s X70 i-DM PHEV crossover, T2 Panda and T2 PHEV SUVs.

Together, the vehicles included crossovers, SUVs, and a pickup, represented every vehicular size (subcompact, compact, midsize, and full size), as well as every power plant type (gasoline, diesel, hybrid, plug-in hybrid, full EV).

Guests could test-drive an even wider array of models from all five brands at a special covered area encompassing one whole floor of the MOA carpark building. The car park building location was both strategic and convenient as it allowed those who wanted to test-drive to do so without going out of the mall area, inspect the vehicles, and drive them without being exposed to sun or rain.

Car buyers had access to irresistible deals, such as down payments as low as P8,000 and cash discounts as high as P310,000. They even had surprise draws that granted additional discounts.

UAAGI partnered with major banks like BPI, BDO, RCBC, Security Bank, and EastWest Bank — offering on-the-spot financing advice and even instant approvals for qualified buyers.

Attendees received complimentary coffee and refreshments. As a special bonus, reserving or test-driving a vehicle earned perks and merchandise. In the Megamall leg, mallgoers even enjoyed a mini concert by Chito Miranda of Parokya Ni Edgar.

To maximize the experience, especially for serious buyers, future attendees of the UAAGI On The Move should set aside at least one to two hours to give ample time to explore each brand, chat with sales reps, and do test drives. For those who plan to purchase via auto loan, bringing IDs and proof of income will fast-track the financing process. Best also to stay updated by checking UAAGI’s official social media accounts for exclusive codes or surprise attractions (like limited-time promos or live performances).

UAAGI On The Move bridges the gap between automotive brands and consumers — no need to visit a dealership. The pop-up format offers convenience (one-stop shopping, easy test drive, financing and reservation — all in a very accessible mall setting); variety (multiple brands and models in one place catering to diverse needs and budgets); interactive shopping (the playful “Gacha” mechanics turns car-buying into an event); and a very customer-centric experience (from complimentary coffee to product information to financing, the experience emphasizes comfort and ease).

UAAGI On The Move isn’t just a car exhibit, it’s a full-fledged automotive experience. With gleaming sheetmetal, test drives galore, great deals, surprise discounts, and high-value merch, UAAGI is changing the game how Filipinos shop for cars.

Get them to the church in style

CONRAD MANILA

Francis Libiran offers a new direction in his wedding fashion show at Conrad’s wedding fair

DESIGNER Francis Libiran takes the lead for the bridal fashion show at this year’s “Inspired Beginnings,” Conrad Manila’s wedding fair.

The bridal fair will take place on June 28 and 29 at the hotel’s Forbes and Taft ballrooms, with 55 or so exhibitors featuring stylists, dress designers, wedding cakes, bridal cars, and even jewelry, and a bridal fashion show each day.

Mr. Libiran will show a collection called Devocion on June 28 at 7 p.m. In an interview on May 22, during a preview of the bridal fair, Mr. Libiran explained his new pieces. Aside from the love and commitment between couples that forms the theme, he said, “It’s my commitment to my brides and grooms to give my best in what I’m doing, all the time.”

He says that for this collection, he will highlight other colors. “Soft hues of pink, nudes, and less of the whites. I’m trying to introduce different forms (as well).”

He’s dispensing with A-line gowns and circle skirts for now, and will be favoring layered tulle, horsehair, and lots of embellishment.

Couples may also register for Mr. Libiran’s trunk show (and try on the designer’s work) at the premier suites from 11 a.m. to 6 p.m. on both days of the fair. Register at Inspiredbeginnings.conradmanila.ememoir-einvite.com.

Meanwhile, the designer, still coming out of a celebration of his 25th anniversary in fashion in 2023, says he’s going full-time on his furniture collection with SM Retail’s Our Home and his own line of fragrances.

The second day of the wedding fair sees the works of designers Rian Fernandez, Manny Halasan, Nat Manilag, Ehrran Montoya, Val Taguba, Vee Tan, and Ryan Ablaza Uson on the runway at 7 p.m.

Meanwhile, in the smaller Taft ballrooms, tablescapes by event stylists will be featured, such as an Arturo Luz-inspired number by Blooms Events by Allen & JP. The rest of the tablescapes will also be inspired by notable artists: Ginger Gaddi channels Olivia D’Aboville; Randy Lazaro does National Artist Hernando Ocampo; Drew Menor does National Artist Fernando Amorsolo; then Dave Sandoval’s table will be inspired by Mauro “Malang” Santos. Lizanne Uychaco, Mark Justiniani, and Impy Pilapi-inspired tablescapes will also be shown during the fair.

The fair will be open from 10 a.m. to 6 p.m.

Fonzy Mendoza, assistant Director of events management, discussed the edge Conrad Manila has over its peers when it comes to weddings. “Conrad Manila has a very big market in Chinese (weddings). We take pride that we have China Blue (restaurant).” — Joseph L. Garcia

Bloomberry Resorts shares surge after gaming platform launch

BLOOMBERRY.PH

SHARES in Bloomberry Resorts Corp. surged last week as investors reacted positively to the launch of its digital gaming platform MegaFUNalo.

Data from the Philippine Stock Exchange (PSE) showed that Bloomberry was the most actively traded stock last week, with 702 million shares worth P4.13 billion changing hands.

Shares of the Razon-led company closed at P6.18 on Friday, up 23.6% from P5 the previous week. The stock outperformed the services index, which declined by 0.5%, and the benchmark PSE index, which fell by 0.2%.

Year to date, the listed casino operator has gained 34.9%, outpacing the services sector’s 6.6% growth and the PSEi’s 2.04% decline.

The market was closed on Thursday in observance of Independence Day.

Bloomberry launched MegaFUNalo last week, entering the digital gaming space alongside established license holders such as BingoPlus, operated by Digiplus Interactive Corp.

The launch aligns with Bloomberry’s previously disclosed online gaming development strategy outlined in its annual report.

The new platform expands the company’s digital portfolio, complementing Solaire Online, which focuses on live gaming and integration with physical casino operations.

China Bank Securities Corp. Research Associate Ralph Jonathan B. Fausto said Bloomberry’s rally reflects investor optimism about its digital expansion strategy, though sustainability will depend on performance indicators.

“Focus is also expected to shift toward the magnitude of promotional efforts incurred during the rollout phase and the extent to which advertising and promotional spending have translated into meaningful topline contribution,” Mr. Fausto said in an e-mail message.

Mercantile Securities Corp. Head Trader Jeff Radley C. See said Bloomberry may sustain its rally despite some selling pressure triggered by concerns over the performance of Solaire Resort North and its potential bottom-line impact.

“The theme for the gaming industry is their eGaming platforms. Other gaming companies will most likely follow suit,” Mr. See said in a Viber message. “Investors will have to wait and see on the results, whether MegaFUNalo can get market share.”

Mr. Fausto said investors should also monitor the ramp-up of Solaire Resort North, noting that stronger earnings could offset associated costs and enhance bottom-line performance.

In a press release, Bloomberry Chairman and Chief Executive Officer Enrique K. Razon, Jr. said Solaire Resort North continued to gain momentum, posting a 29% sequential increase in gross gaming revenue (GGR), contributing P1.1 billion to consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA).

The property features 13,000 square meters of mass and VIP gaming space, 526 guest rooms, 14 restaurants and bars, and a 1,800-square-meter grand ballroom with a capacity of more than 1,600 guests.

The hotel and casino generated P4.6 billion in GGR in the first quarter of 2025.

“Upside may also materialize from Solaire Entertainment City should early indicators of a rebound in VIP segment activity emerge, despite the prevailing softness in inbound tourism, particularly from Asian players,” Mr. Fausto added.

GGR from Solaire Entertainment City declined by 17.6% to P12.15 billion due to lower volumes and hold rates in both VIP and electronic gaming machine segments.

Bloomberry’s attributable net income rose by 25.5% year on year to P3.32 billion in the first quarter, while consolidated revenues increased by 15.3% to P14.29 billion.

Mr. Fausto projected continued earnings growth, forecasting net income to rise to P3.2 billion in 2025 and P4.5 billion in 2026, driven by “sustained earnings momentum from Solaire North as it progresses toward steady-state operations.”

At the EBITDA level, he projected increases to P18.4 billion and P19.3 billion, reflecting “the underlying strength of core operations.”

Mr. Fausto pegged immediate support at P5.30 and resistance at P6.70.

Mr. See placed resistance at P6.36 and P7.37, and support at P5.68 and P4.93. — Pierce Oel A. Montalvo

Philippines, Japan hold maritime drills after RAA ratification

JS TAKANAMI (DDG-110) and BRP Miguel Malvar (FFG-06) execute Division Tactics, maneuvering in close coordination as part of the Bilateral Maritime Cooperative Activity. — JAPAN MARITIME SELF-DEFENSE FORCE (JMSDF)

By Kenneth Christiane L. Basilio, Reporter

THE PHILIPPINES and Japan held joint maritime drills in the South China Sea on Saturday, the Philippine military said on Sunday, conducting their first major exercises following the ratification of their Reciprocal Access Agreement (RAA) amid growing tensions in the contested waters.

The Philippines’ missile frigate BRP Miguel Malvar and Japanese destroyer JS Takanami performed anti-submarine warfare drills and cross-deck landing exercises involving a helicopter, the Armed Forces of the Philippines said in a statement.

“This cooperative activity is more than a display of maritime capability — it is a manifestation of our enduring commitment to uphold peace, stability and a rules-based order in the Indo-Pacific,” Philippine military chief General Romeo S. Brawner, Jr. said.

“With the RAA now in effect, our coordination with Japan will only grow stronger and more responsive to the complex demands of our shared security environment,” he added.

The RAA, signed by Manila and Tokyo in July last year, allows for the entry of equipment and troops for military drills and disaster responses on each other’s soil.

It was ratified by the Philippine Senate in December, and entered into force after Japan’s National Diet ratified it in early June.

The Philippines is stepping up efforts to counter China’s expansive claims in the South China Sea, broadening defense partnerships beyond its traditional ally, the US, to include Japan and other western nations.

The Philippines and Japan first conducted their bilateral maritime drills last year, a month after both the countries agreed to the RAA.

“This activity highlights the deepening trust and coordination between the two allies as they respond to traditional and emerging security challenges in the region,” the Philippine military said.

The Philippines and China have repeatedly clashed over disputed South China Sea features, fueling tensions as both uphold their claims in the vital trade route.

DEFENSE MANUFACTURING
Philippine lawmakers in the 20th Congress have been urged to focus on improving the country’s capabilities to build weaponry to bolster its defense capabilities, Chester B. Cabalza, founding president of Manila-based think tank International Development and Security Cooperation, said via Messenger chat. 

A measure complementing the Self-Reliant Defense Posture law should be pursued to help lay groundwork for local defense manufacturing, he said.

“If we fail the second time around, the country will become a laughingstock in the region since it was Manila that first concocted and designed the first Self-Reliant Defense law in Asia,” he said.

The Philippines is trying to counter China’s military presence in the region. It has allotted about $35 billion for military upgrades over the next decade.

Manila has been irked by the presence of Chinese ships within its ecozone. China claims nearly all of the South China Sea via a U-shaped, 1940s nine-dash line map that overlaps with the exclusive waters of the Philippines and neighbors like Vietnam and Malaysia.

A United Nations-backed tribunal in 2016 voided China’s sweeping claims for being illegal, a ruling that Beijing does not recognize.

A political analyst said the Marcos administration should boost public participation in crafting its legislative priority list for the next Congress to foster broader civic engagement and ensure that Filipinos understand how the proposed laws could affect their daily lives.

“It’s counterproductive to enact laws without any public constituency behind them,” Michael Henry Ll. Yusingco, a senior research fellow at the Ateneo Policy Center, said via Facebook Messenger chat. “The public scarcely knows any of these LEDAC (Legislative-Executive Development Advisory Council) bills.”

“Whatever LEDAC prioritizes for the 20th Congress, it would be more optimal to build a constituency behind their priority measures,” he added.

The Malacañang releases a list of priority bills to help accelerate legislative action, with endorsements sought through letter-requests addressed to government agencies and private sector groups, according to LEDAC’s website.

Deliciously healthy through the years: Kenny Rogers Roasters celebrates 30 years of flavorful legacy

Kenny Rogers Roasters is renowned for serving “deliciously healthy” meals and is proudly celebrating its 30th anniversary—a remarkable feat in a fast-paced, trend-driven industry where longevity is a true badge of success. Since 1995, the brand has grown into the country’s leading fast-casual restaurant, with over 150 stores nationwide. Known for its signature roasted chicken, hearty sides, and exciting food innovations, Kenny Rogers Roasters has redefined how Filipinos enjoy wholesome meals—proving that true greatness only gets better with time.

Redefined What Healthy Tastes Like

For the past 30 years, Kenny Rogers Roasters has redefined what healthy tastes like by offering wholesome, flavorful meals in a fast-casual setting. Known for its Classic Roasted Chicken—tender, juicy chicken slow-roasted to perfection—the brand has become a staple in Filipino households.

Kenny Rogers Roasters also offers a well-rounded menu that balances indulgence and nutrition, featuring staples like the fall of the bone ribs, Healthy Plates and Salad—complete with calorie counts to give customers greater transparency and control over their meals. Complementing its main dishes are a variety of comforting side options that have become fan favorites over the years, including the iconic corn muffin, mac and cheese, and steamed vegetables.

These thoughtfully crafted combinations reflect the brand’s enduring commitment to making deliciously healthy food both satisfying and accessible to all.

Kenny Rogers Roasters continues to innovate with bold, globally inspired flavors that excite the palate while staying true to its healthy roots. Limited-time offerings such as the Four Cheese Roast, Great Garlic Roast, Truffle Roast, and Chimichurri Roast have added variety and excitement to the menu, proving that nutritious food can also be indulgent and crave-worthy. By staying ahead of trends and listening to what customers want, Kenny Rogers Roasters has solidified its reputation as a trailblazer in the industry—one that leads with purpose and flavor.

“I Love Me Better”: The Campaign that Marks Legacy

To celebrate its 30th year, Kenny Rogers Roasters is launching its most personal and empowering campaign yet: “I Love Me Better.” The brand recognizes that choosing better for yourself—especially when it comes to food—takes intention and courage. This campaign champions self-love through mindful eating, reminding everyone that even small decisions, like opting for healthier meals, can be powerful acts of self-care.

Marketing Director Lorent Martin Adrias explains that Kenny Rogers Roasters is for those who believe every better choice matters. “Sometimes, better choices start with something as simple as choosing better meals for yourself. When we choose healthier, better meals, we’re not just fueling our bodies but embracing self-love,” he says. “Choosing Kenny Rogers Roasters is more than a meal decision—it’s a commitment to loving yourself better.”

Reflecting this bold message, the “I Love Me Better” campaign took over high-traffic, unexpected spaces—from a full train wrap on LRT-1 and bus wraps in BGC to bike boards and inspiring billboards along EDSA. Each placement carried messages of self-love and empowerment, turning everyday commutes into bold reminders to choose better. The campaign also introduced a new, feel-good jingle now streaming on Spotify, extending the message through music.

For three decades, Kenny Rogers Roasters has led with purpose—redefining what deliciously healthy means while influencing communities through innovation and impact. “The legacy of Kenny Rogers Roasters is unmatched,” Adrias concludes. “And the future is set to raise the bar even higher.”

 

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Protecting every saver: Deposit insurance adds another layer of protection to hard-earned profits

A sari-sari store around the corner, eateries lining up on the side of a street, 24/7 community laundry shop, or a digital marketing start-up agency are just a few examples of MSMEs or micro, small, and medium-sized enterprises that play a crucial role in providing employment and driving economic growth.

Data from the Philippine Statistics Authority (PSA) showed that for 2023, 99.63% of the total recorded business enterprises operating in the country are MSMEs.

Angela started her baking business both as a side-hustle and as an outlet for her love for desserts, initially offering her baked goods to family and colleagues. When the pandemic shifted how people do business that led to the rise of e-commerce, Angela also explored using social media to widen the reach of her business.

“Mahirap na umasa lang sa buwan-buwan na sahod. Kailangan maging madiskarte dahil sa pangangailangan ng pamilya, kaya sumubok ako sa pag-nenegosyo. Naisip ko dahil mahilig naman ako mag-bake, bakit ‘di ko subukan? Ino-offer ko lang nung umpisa sa mga kamag-anak, kakilala, at mga katrabaho, hanggang sa nagpo-post na rin ako sa social media. Ngayon ay nag-iisip ako na mapalago pa lalo ang negosyo (It’s hard to rely only on the monthly salary. You have to be resourceful because of the needs of the family, that’s why I decided to try starting a business. Since I love baking, I thought, why not give it a shot? At first, I offered my baked goods to family, friends, and co-workers. Then, I started posting about it on social media. Now, I’m thinking of growing the business even more),” Angela shared of her business journey, thus far.

For business owners like Angela, having a savings account is important if they want to grow their business. First, saving in banks provides business owners access to credit, which will come in handy if they want to apply for a loan to finance their business operations or plans for expansion. Second, it gives them access to bank products and tools that will make transactions with suppliers and customers easier. More importantly, it ensures business owners’ hard-earned profits are secured in banks.

Adding another layer of security and protection to bank deposits is deposit insurance provided by the Philippine Deposit Insurance Corporation (PDIC). The PDIC insures deposits in banks licensed to operate by the Bangko Sentral ng Pilipinas (BSP).

Many MSMEs and start-ups, including Angela, have gravitated towards digital transactions and even mobile apps, which have become increasingly popular in the country due to factors that make banking more convenient and rewarding.

“At the end of each month, sinisiguro ko na may naitatabi rin ako sa bangko. Ngayon ay meron akong dalawang savings account, isa sa traditional bank at isa sa digital bank. Unti-unti kong binubuo ang capital para sa pangarap na mapalaki pa ang aking baking business. Sa pag-iipon sa bangko, panatag ako na secured ang negosyo goals ko. (At the end of each month, I make sure to set aside some savings in the bank. Right now, I maintain two savings accounts, one in a traditional bank and another in a digital bank. Little by little, I’m saving up the capital I need to grow my baking business. Saving in the bank gives me peace of mind, knowing my business goals are secure),” Angela said with optimism.

The new maximum deposit insurance coverage (MDIC) of P1 million took effect on March 15, 2025. This upward adjustment in the MDIC since it was last set to P500,000 in 2009, offers greater protection for bank deposits and grants individuals and business owners, like Angela, more peace of mind and confidence that their hard-earned deposits in banks are safe and secure.

To learn more about the new MDIC, you may visit www.pdic.gov.ph/MDIC.

 

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PHL external debt hits $146.74B at end-March

South Korean won, Chinese yuan and Japanese yen notes are seen on US 100 dollar notes in this file photo illustration. — REUTERS

EXTERNAL DEBT outstanding rose 14% to $146.74 billion at the end of March, with the government and banks ramping up their borrowing, the Bangko Sentral ng Pilipinas (BSP) said.

The central bank added that compared to the end of 2024, external debt rose 6.6%.

“The increase in external debt in the first quarter was primarily attributed to the National Government’s fund-raising activity meant to support infrastructure projects and other budgetary requirements,” the BSP said.

This brought the external debt as a percentage of gross domestic product (GDP) to 31.5% from 29.8% in the fourth quarter, a level that “still reflects the country’s ability to repay its external obligations.”

External debt includes all types of borrowing by residents from nonresidents.

The BSP said the National Government (NG) raised $5.06 billion from global bonds and loans extended by foreign development institutions.

In January, the government raised $3.3 billion by issuing dollar and euro-denominated sustainability bonds, including $1.25 billion from 10-year US bonds, $1 billion from 25-year US bonds and one billion euros from 25-year euro bonds.

It was the NG’s first global bond offering for the year.

The central bank also reported public-sector net availments of $91.54 billion at the end of March, while the private sector’s net availments hit $55.21 billion.

Banks also tapped overseas markets for “short-term financing to support trading operations and address liquidity needs.”

At the end of March, gross international reserves (GIR) stood at $106.67 billion and represented 3.27 times cover for short-term debt based on remaining maturity.

The GIR is forecast at $105 billion this year, down from the $110 billion projected earlier.

“The GIR level continues to provide a robust external liquidity buffer, despite the downward trend of the short-term external debt cover in recent years,” the BSP said.

Over the same period, short-term external debt based on remaining maturity was $32.67 billion.

The debt service ratio declined to 8.4% at the end of March from 9% a year earlier. The indicator of capacity to service debt compares loan payments with income from exports and other inflows.

The decline was attributed to the lower principal and interest payments by resident borrowers in the first quarter, the BSP said.

The government plans to borrow P2.55 trillion this year, of which P507.41 billion will come from external sources. — Aubrey Rose A. Inosante

Iran’s four possible responses to Israel — and their risks

STOCK PHOTO | Image by Javad Esmaeili from Unsplash

By Hal Brands

ISRAEL’S ATTACK on Iran opens the next phase of the Great Middle Eastern War that began on Oct. 7, 2023. Over the past 20 months, that war has played out on fronts across the region and has drawn in actors from around the globe.

There is much we don’t yet know about what has happened, let alone what will happen. But it is clear that Iran has suffered significant damage to its leadership, its military and industrial capabilities, and perhaps its nuclear program. The endgame of this conflict and the future of the region will be profoundly shaped by how a wounded Iran responds.

There are four basic possibilities. Their consequences range from a bigger, bloodier Middle Eastern mess to a potentially surprising diplomatic denouement: a far stronger nuclear deal than President Donald Trump could have gotten just a few days ago.

First, Iran could go nasty but narrow, striking back against Israel but avoiding US bases or other regional targets. Drone, missile, or terrorist attacks against Israel (some of which are already underway) would offer a measure of vengeance. But this strategy would seek to avoid triggering a larger, riskier conflict with Washington.

The problem is that America is already involved in this conflict: Trump has pledged to help Israel defend itself. A narrow response could thus look pathetic if Tehran’s remaining weapons can’t penetrate Israel’s multi-layered (and multi-nation) air and missile defense. And even if Iran draws blood, Israel will just keep coming, as these opening strikes were the beginning of a larger military campaign.

If Iran needs to make a bigger statement, it could go big and broad. In addition to hitting Israel, it could strike US personnel, facilities and partners from Iraq to the Persian Gulf. It could also activate its proxies — the Houthis, Iraqi Shia militias, and what remains of Hezbollah — in a bid to set the region on fire.

That strategy has appeal as a way of restoring deterrence against dangerous enemies. It would remind the world that even a weakened Iran can cause real pain. But it would also cross the red line Trump has drawn against attacks on US targets. So Iran could find itself fighting a bigger war against Israel and the US, fraught with existential dangers for an already battered regime.

The third possibility — nuclear breakout — could be just as dangerous. Depending on how much nuclear infrastructure is left — particularly the buried, hardened uranium enrichment facility at Fordow — Tehran could withdraw from the Non-Proliferation Treaty and make a desperate push for the bomb.

Iranian leaders might see this as their best option for salvation, given how badly Tehran’s conventional capabilities and proxy network has been degraded. If Iran did make it across the finish line, the result would be terrifying — a bloodied, vengeful terrorist state with the destructive power of nuclear arms.

The obvious risk is that Iran might never make it. A sprint for nuclear weapons would cross another Trump red line. It could bring US intervention, with bunker-busting bombs that set back the Iranian program far more decisively than Israel could. So this scenario, too, seems likely to set off a larger regional war, probably ending in a devastating Iranian defeat.

That leaves the final option — one Trump is urging Tehran to take. Iran could wave the white flag and cut a nuclear deal, perhaps after a symbolic, face-saving retaliation. That deal would be far worse than anything Tehran might have hoped for a few days ago. It would be closer to the “Libya option” — the total dismantling of the nuclear program — than “Obama 2.0.”

The Iranian regime, which views the nuclear program as a guarantee of both its own survival and national security, would hate to take this path. But it might consider it, if other options lead to disaster. The Islamic Republic has made painful concessions before.

Ayatollah Ruhollah Khomeini settled the Iran-Iraq War in 1988 rather than risk US intervention: Accepting peace, Khomeini acknowledged, was the cost of preserving the Islamic revolution. Tehran also drew in its horns, momentarily, after the US overthrew Saddam Hussein in Iraq in 2003, and it looked like the ayatollahs might be next.

If Iran chooses this course, it would be a remarkable reversal: Less than two years ago, Israel was badly shaken and Tehran and its proxies seemed ascendant. It would be a triumph for a nuclear non-proliferation regime that has, lately, been under strain. It would be a diplomatic windfall for Trump, who didn’t want an Israeli strike but now might benefit from it. And it would be a reminder that force doesn’t always undercut diplomacy: It can, in fact, be indispensable to its success.

None of this is guaranteed, of course. A week from now, the Middle East could be consumed by a larger, more brutal war. But it is worth admiring the fact that Israel’s attack has left a terrible regime with only terrible options — and, perhaps, created a narrow path to a better outcome for the region and the world.

BLOOMBERG OPINION

Making science-backed skincare accessible for Filipinos

DERMOREPUBLIQ 1% Hyaluronic Acid + Snail Mucin Serum

SKINCARE has become increasingly focused on products that balance safety, effectiveness, and accessibility. Consumers today often look for brands that use proven ingredients, provide clear, and tailored results at reasonable price points. This is the space Dermorepubliq is positioning itself, offering science-backed formulations designed for Filipino skin needs without the premium price tag.

Dermorepubliq was founded by Keith Sta. Barbara, during the pandemic after he experienced worsening acne due to stress and changes in routine. Frustrated by the high cost and limited availability of effective skincare, he decided to create an affordable, science-based alternative. “I liquidated my personal assets and enrolled in a two-year diploma course in natural skincare formulation in Australia,” Mr. Sta. Barbara said in an e-mail interview with BusinessWorld. The brand launched its first products in October 2020 and has since grown with a focus on making skincare accessible to Filipinos.

Touting its “science-backed” skincare products, Mr. Sta. Barbara maintains that every Dermorepubliq product is developed based on research, clinical data, and safety standards. “We consult with licensed chemists, pharmacists, and dermatologists during the formulation and testing phases to ensure efficacy without compromising safety, especially for sensitive and acne-prone skin,” he explained.

To keep prices low, Dermorepubliq avoids costly branding and packaging expenses, relying instead on direct-to-consumer sales through platforms like TikTok Shop and Shopee. Sta. Barbara noted, “Instead of inflating prices through branding or heavy packaging, we focus on streamlined operations and local research and development. This allows us to offer premium actives like niacinamide, alpha arbutin, and hyaluronic acid at prices below P500.”

Most of the brand’s serums, such as the 1% Hyaluronic Acid + Snail Mucin Serum, are priced at P369 for 30 ml. Its ampoules — which are more concentrated and used less frequently than daily serums — such as the 82% Cica Clarifying Ampoule, retail at P699 for 30 ml.

The brand primarily targets men and women aged 18 to 35, particularly young professionals and Gen Z consumers looking for affordable skincare with visible results. Dermorepubliq engages this audience through educational content on social media, offering straightforward products backed by user reviews and strengthened by word-of-mouth recommendations.

The fact that the brand’s market is looking for accessibility and effectivity is a sign that Filipinos are “more educated and ingredient-aware than ever before.”

“This signals a shift in the market: consumers are no longer just buying skincare, they’re buying into science, safety, and efficacy,” he said. “Skincare decisions today are increasingly guided by science rather than branding alone.”

THE LONG GAME
Looking ahead, Dermorepubliq plans to expand its product range to better suit tropical climates. The company also intends to introduce educational programs to support aspiring skincare entrepreneurs.

“I envision transforming Dermorepubliq into not just a brand, but a learning platform mentoring aspiring skincare entrepreneurs and offering training in formulation and brand-building,” Mr. Sta. Barbara said before adding that the long-term goal is to “build a homegrown skincare ecosystem that empowers more Filipinos.

Dermorepubliq products are available online at dermorepubliq.com and via TikTok Shop and other e-commerce sites. — Zsarlene B. Chua

 

Zsarlene Chua is a former BusinessWorld reporter who is now a fledgling PR girl. She’s all about skincare, makeup, and video games — and occasionally food. None of the products she reviews or writes about are the writer’s clients. Contact the author at zsarlene.chua@gmail.com.

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