VOLUME TRADED in the secondary market for peso bonds issued by Philippine entities reached a record of more than $160 billion this year, according to the nation’s fixed-income bourse, with the momentum likely to be sustained.
“It seems that we will be poised to sustain this level of market activity,” Antonino Nakpil, president of the Philippine Dealing & Exchange Corp. said on Friday, citing recent market reforms, including the launch of a revamped interest rate swap.
As of Thursday, P9.5 trillion ($162 billion) worth of debt securities have changed hands, he said, adding the monthly volume averaged P1.1 trillion from July to November.
In the primary market, new listings and enrollments of bonds at the local bond exchange reached P362.2 billion this year, outpacing P209 billion in 2023, he said.
The Southeast Asian nation is pushing to deepen its capital market with reforms including the rate swaps launched last month and cutting the process for taxing residents of countries covered by tax treaties. A developed capital market helps businesses raise money apart from bank loans and provides more options for investors.
The peso interest rate swap market should facilitate bond issuances by Philippine firms, Mr. Nakpil said. The PDS Group, parent of the fixed-income exchange, is also looking to launch a forward bond program that will provide another interest rate hedging mechanism for portfolio managers, he said.
The Securities and Exchange Commission is expected to approve it soon, he added.
PDS is also set to start digitalizing documents this month including short-tenor instruments like commercial papers to encourage smaller enterprises to access debt markets. — Bloomberg
Kickstart Ventures AVP for Legal and Compliance Jecky Pelaez delivered a keynote speech during Geeks on A Beach event.
The persistent tech winter that gloomed over Southeast Asia the past couple of years has massively affected founders, investors, and other key players in the ecosystem through gaps in funding. As the industry moves into increasingly uncertain times, corporate venture capital Kickstart Ventures believes that founders and investors alike must find new ways to navigate the settling of the winter into a tech fog.
“During this tech fog, the startup playbook has changed and it becomes more valuable for founders to navigate with purpose,” Kickstart Ventures’ AVP for Legal and Compliance Jecky Pelaez said during the recently held Geeks on A Beach (GOAB), a community event in Mactan, Cebu under Philippine Startup Week 2024.
In this new landscape, Mr. Pelaez noted that the playbook startups are familiar with has drastically changed. Previously, businesses and investors employed aggressive growth strategies, but with heightened risks, startups shifted gears to achieve sustainable growth. From top-line profitability, this new reality forces founders to look at unit economics and ensure each product and sale positively impacts their business to achieve a path to profitability. Lastly, startups need to manage funding expectations in terms of amount and valuation, as well as be strategic in raising a round given the lengthier time it takes to fund-raise compared to the previously experienced funding rounds during the pandemic.
At the height of the tech winter, which was expected to be a temporary downturn but has now transformed into the new norm, Southeast Asia experienced a “funding crunch” where investments remained scarce compared to other markets. According to DealStreetAsia’s SE Asia Deal Review: Q3 2024, deal volume and value in the region remained below pre-pandemic levels, with only $1 billion overall funding during the third quarter of 2024, a significant decrease from the previous year’s $2.1 billion.
Additionally, CBInsight’s State of Venture Q2’23 Report: Southeast Asia (SEA) claims that funding cycles in the region are now taking longer with median months between funding rounds soaring, particularly for later-stage deals. In 2023, startups waited for a minimum of 35 months to finish a round of funding compared to 2019 where funding rounds took 25 to 30 months.
To successfully thrive in volatile conditions, Mr. Pelaez underscored the importance of going back to the core of the business through constant reflection and refocusing on crucial areas, managing one’s ego and being open to difficult decisions and conversations, as well as zeroing in on the fundamentals to ensure startups go beyond survivability.
He emphasized that founders should recognize the challenges and proactively stress-test their assumptions while being mindful of market conditions and the sentiments of investors, shareholders, and other key stakeholders. On an operational level, he stressed the need to build a team that is lean and agile enough to pivot when needed and double down on metrics that are crucial to business viability.
While echoing Mr. Pelaez’s insights, Kickstart Ventures President and Co-Founder Minette Navarrete remains positive that the community can power through the challenging landscape.
“While the tech fog is a difficult time for the ecosystem in the region, we at Kickstart Ventures believe that there are many opportunities for growth,” Ms. Navarrete quipped. “Startups need to take a step back, be open to feedback, stay grounded in the realities of the landscape, and be decisive especially when making tough decisions.”
Renowned Volvo safety, designed with a smaller CO2 footprint
Volvo, with its new distributor Hariphil Asia Resources, Inc. (HARI), launches the first fully electric subcompact SUV, the EX30. Designed for people and planet, the new Volvo EX30 combines everything great about Volvo vehicles. It features cutting-edge technology, world-renowned safety, and the lowest carbon footprint of any Volvo car to date.
EFFICIENT POWER
Delivering 272 horsepower and 343 Nm of torque to the rear wheels, the EX30 accelerates from 0 to 100 km/h in just 5.3 seconds. It offers energy efficiency as low as 17.5 kWh per 100 kilometers, paired with rapid DC fast charging that reaches 80% in only 26.5 minutes.
SAFETY, AS ALWAYS
As with every Volvo, advanced safety features come standard. Pilot Assist helps manage speed and distance to vehicles ahead while providing steering assistance and prompts as needed. It can escalate warnings if the driver is unresponsive. Paired with Driver Attention Monitoring, it analyzes driving behavior to detect signs of fatigue or reduced focus, issuing alerts via sound and messages in the driver information display.
The Collision Avoidance System enhances safety by delivering audio and visual warnings, along with brake pulse alerts, when a collision risk is detected. In critical situations, it can brake automatically or steer the car to help avoid or reduce potential impacts.
SOPHISTICATED EXPERIENCE
The EX30 offers serene design with nature-inspired colors, tactile finishes, and four interior themes crafted with renewable materials. Its ambient lighting features five Scandinavian-inspired modes, complemented by Harman Kardon® immersive audio. An advanced climate system ensures a fresh and comfortable cabin with air quality monitoring and remote pre-cleaning. The interior also offers versatile storage, including a 61-liter underfloor compartment, 318 liters with the rear seats up, and 904 liters when folded. Five ergonomic seats with discreet ISOFIX attachments ensure safety and comfort for all passengers.
SUSTAINABILITY BUILT, EXCEPTIONALLY DESIGNED
The EX30 is built with sustainability at its core. Manufactured in a factory powered by climate-neutral energy, it integrates sustainable materials throughout its design. Approximately 25% of the aluminum and 17% of the steel used in its production is recycled. The interior showcases smarter materials like denim, flax, wool-blend fabrics containing 70% recycled polyester, and plastics, 17% of which are recycled — a Volvo record.
PERSONAL SERVICE, GUARANTEED
Volvo Personal Service simplifies car care with a Scandinavian approach, offering direct access to Personal Service Technicians who handle your Volvo with care and expertise. Enjoy immediate servicing, transparent processes, and trusted technicians ensuring your car stays in top condition.
In addition, the EX30 is backed by a comprehensive warranty program. This includes a five-year unlimited mileage vehicle warranty and an eight-year or 160,000-km battery warranty, whichever comes first. Preventative maintenance service (PMS) is also available annually or every 10,000 km, ensuring the EX30 stays in excellent condition.
OWN ONE TODAY
The Volvo EX30 debuts at PHP2,990,000, delivering exceptional value as a premium, fully electric subcompact SUV. Experience the future of mobility by booking a test drive today. Visit us at Volvo Makati, 2nd Floor, UDC Building, 2272 Chino Roces Avenue, Makati City, 1232. For inquiries, email us at inquiry@volvocarsph.com or visit https://www.volvocars.com/ph to learn more.
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Neky and her family (pictured), along with the rest of Barangay Bairan, put up electric-powered Christmas decorations for the first time.
AboitizPower, Visayan Electric help brighten homes through Sitio Electrification Program
For more than two decades, the humble and secluded sitio of Bairan, Naga City in Cebu, located some seven kilometers away from the main road, has been enveloped in darkness. Rough and treacherous road conditions complicate and delay the arrival of progress in this hilltop community.
But after years of hardships, a long-awaited blessing descended upon their village. Electrification finally reached Barangay Bairan. The scattered lights residents once saw from afar, lighting up neighboring barangays, now illuminates the very area where they live.
Arnulfo Tiempo, Analou Obaob, and Neky Kanlom were among the residents of Barangay Bairan who benefited from the Sitio Electrification Program electrified by power distribution utility Visayan Electric Company, a subsidiary of Aboitiz Power Corporation (AboitizPower) and the second largest private utility in the Philippines.
This year, they, along with their ka-barangays, will celebrate their Christmas the way they never experienced before; one filled with bright and colorful lights. In addition to regular fluorescent lights, their homes are now adorned with twinkling lights and other decorations that add to the spirit of the holidays.
Life after the Sitio Electrification Program
Together with his family, Arnulfo (left) adorns their first Christmas tree with lights, baubles, and trimmings.
Arnulfo, who is a backyard hog grower, faced a lot of challenges in raising his livestock due to the absence of electricity, one of which is the difficulty of assisting his sows during the delivery of piglets.
Everything changed when Visayan Electric brought electricity to Barangay Bairan through the Sitio Electrification Program, a national government project that aims to connect far-flung barangays to the electrical grid of distribution utilities such as Visayan Electric.
For Arnulfo, electric-powered light did not only provide assurance for his family’s safety but also for his pigs, which are his main source of income that sustains his family’s needs.
Aside from benefiting his livestock, a new opportunity also came to his home after having electricity; in the form of one of his children starting to receive tailoring work.
“Naa napud mi tahi-anan, sa akong bata, sukad naa nami kuryente. Tabang lang mi sa akong misis (Since we got electricity, one of my kids now accepts commissions as a tailor. My wife and I help from time to time),” Mr. Tiempo said.
For her part, Analou, who is a barangay health worker and farmer, can now manage her time more efficiently, especially in helping her husband with farming, which their family financially relies on.
When electricity came to Barangay Bairan, her volunteer work as a barangay health worker, with all of the paperwork, can now be done at night, which gave her more time to help her husband with the farming.
“Apan karon nga naa nami kuryente, makatabang nako sa akong bana sa buntag unya ari na lang nako trabahoon sa gabii (Now that we already have electricity, I can help my husband in the morning and I can do my volunteer work at night),” Ms. Obaob said.
Neky, a Grade 9 student, said that school life also changed with the arrival of electricity, making her life easier as she can now do her homework after dark and have more time to prepare and study her lessons for the following day.
Before, she struggled with her academics because, like Arnulfo and Analou, she only relied on a kerosene lamp, or a “lamparilla,” which really restricted her academic performance. However, with electricity, a significant change has manifested in her efforts to excel in her academics.
Neky said the gift of electricity pushed her to do more in her academics, teaching her time management.
Hope for Christmas
The belen of Analou’s family is brightened up by colorful Christmas lights.
Like their ka-barangays, Arnulfo, Analou, and Neky had the dream of having electricity in their remote village. This collective aspiration was fulfilled by AboitizPower in 2023, signifying the beginning of the fulfillment of many other hopes and dreams they wish to see come true.
Arnulfo continues to hope and dream that his small backyard hog business will grow significantly, allowing him to continually sustain his family. Along with this dream, he envisions a joyful Christmas for his family.
“Akong padayon nga gipangandoy nga unta mosaka-saka akong negosyo kay mao man ang nagbuhi sa akong pamilya (My dream is that my business will continue to grow because this is what supports my family),” Mr. Tiempo said.
“Karong umaabot nga Pasko, ako usab nalantawan nga malipayon ang among pamilya (This upcoming Christmas, I also envision that our family will be happy).”
Meanwhile, Analou, like all parents, wishes for her family to be complete this coming Christmas. As a mother, she wishes only that her children will someday achieve all their dreams. Moreover, she still hopes to own a television someday.
“Ang akong gusto ra jud ang magkatigum lang mi tibuok pamilya…ug makab-ot sa akong mga anak ang ilang mga gipangandoy (What I really want is for our whole family to be together… and for my children to achieve their dreams),” she said.
For Neky, her determination pushes her to achieve her dreams of becoming a teacher. She believes she is not far from achieving it, now that she has access to electricity. The challenge now is for her to focus more on her studies.
For these three families, the arrival of electricity represents much more than just light. It also symbolizes hope, which further encourages them to see life with a brighter future as they continue to work toward realizing their dreams. AboitizPower and Visayan Electric are privileged to help light that path.
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Best Overall Sustainable Business Unit: Robinsons Malls
For the third consecutive year, Robinsons Land Corporation (RLC) gathered its leaders and teams to celebrate the most impactful sustainability initiatives across its business units at the Road to Sustainability Awards 2024. Held at the Crowne Plaza Manila Galleria, the event highlighted RLC’s leadership in sustainability and its ongoing efforts to build a better, more sustainable future.
The ceremony opened with a powerful message from RLC Chairman, President, and CEO Lance Y. Gokongwei, who highlighted the transformative potential of passion meeting purpose. “This morning is about more than awards; it’s about sharing ideas, fostering collaboration, and inspiring one another to continue pushing boundaries. It’s about celebrating progress while recognizing that our journey toward sustainability is ongoing and requires the commitment of every business unit, every community, and every individual,” he said in his welcome remarks. His message underscored the shared responsibility of all business units — across malls, offices, residences, hotels, estates, and industrial developments — in driving impactful change.
A Morning of Recognition
Among the highlights was Robinsons Hotels and Resorts (RHR) who won the Best Environmental Sustainability Initiative for its R WATER project. Launched in August 2024, this in-house water bottling facility serves three pilot properties — Holiday Inn Manila Galleria, Crowne Plaza Manila Galleria, and The Westin Manila — eliminating single-use plastic bottles across guest rooms and events. To date, 25,416 reusable glass bottles have been produced, reducing plastic waste by 8.1 tons annually and cutting carbon emissions by 64%. By transforming underutilized space at Holiday Inn Manila Galleria, RHR optimized resources and set a new standard for sustainable hospitality.
Best Environmental Sustainability Initiative: “R Water” by Robinsons Hotels & Resorts: Launched in August 2024, this in-house water bottling facility serves three pilot properties — eliminating single-use plastic bottles across guest rooms and events. To date, 25,416 reusable glass bottles have been produced, reducing plastic waste by 8.1 tons annually and cutting carbon emissions by 64%. By transforming underutilized space at an existing property, RHR optimized resources and set a new standard for sustainable hospitality.
The Best Social Sustainability Initiative was awarded to Robinsons Malls for its A Mall for All program, which fosters inclusivity, supports livelihoods, and empowers women. The program introduced Safe Zones for persons with disabilities (PWDs), senior citizens, and pregnant women during events, ensuring comfort and accessibility. It also hosted Bureau of Jail Management and Penology (BJMP) Trade Fairs, benefiting 2,200 persons deprived of liberty (PDLs) and generating over P130,000 in sales, while workshops with partners like World Vision empowered over 300 women through financial literacy, skills training, and self-defense lessons. These efforts highlight Robinsons Malls’ commitment to creating inclusive, community-focused spaces.
Best Social Sustainability Initiative: “A Mall for All” by Robinsons Malls: The program fosters inclusivity, supports livelihoods, and empowers women through initiatives like Safe Zones for persons with disabilities (PWDs), senior citizens, and pregnant women during events. It also hosted BJMP Trade Fairs, benefiting 2,200 persons deprived of liberty (PDLs). Workshops empowered over 300 women through financial literacy, skills training, and self-defense lessons, showcasing Robinsons Malls’ commitment to inclusive, community-focused spaces.
Meanwhile, The Governance Excellence Award was presented to RLC’s Controls and Compliance Department and Investor Relations Department for their exceptional governance practices. These teams have upheld transparency and accountability through robust compliance frameworks and effective internal controls, ensuring ethical leadership across the organization. By fostering trust with stakeholders and delivering timely, accurate communication, they have reinforced RLC’s commitment to the highest standards of corporate governance.
Governance Excellence Award: Controls & Compliance Department and Investor Relations of RLC Finance
The ceremony culminated in the crowning of Robinsons Malls as the Overall Best Sustainable Business Unit, recognizing its holistic and impactful approach to sustainability across RLC’s seven focus areas, including environmental stewardship, social responsibility, and governance excellence. This achievement sets a benchmark for innovation and progress within the organization.
Driving a Culture of Sustainability and Innovation
The Road to Sustainability Awards inspires a culture of sustainability and innovation within RLC. This program is part of the Gokongwei Group’s broader sustainability agenda, aligning RLC’s initiatives with the environmental, social, and governance (ESG) goals shared across the conglomerate. By doing so, RLC contributes to creating value for shareholders, stakeholders, and communities, advancing the Group’s vision of sustainable and inclusive growth.
A meaningful addition to this year’s event was the distribution of SDG pins to sustainability champions, symbolizing RLC’s alignment with the United Nations Sustainable Development Goals (UNSDGs) and its commitment to impactful progress.
Showcasing Impact and Inspiration
The keynote address by Aljo Quintans, SDG Specialist from the United Nations Development Programme (UNDP), highlighted the critical role of businesses in advancing global sustainability goals. Quintans underscored the mutual benefits of aligning corporate strategies with the United Nations Sustainable Development Goals (UNSDGs), stating, “The SDGs opens up new opportunities and creates big efficiency gains for the private sector, especially as it drives innovation and enhances reputations. In as much as businesses are good for SDGs, SDGs are indeed good for business.”
Aljo Quintans, SDG Specialist from the United Nations Development Programme (UNDP)
Quintans also highlighted collaboration between businesses and organizations like the UNDP as essential to addressing pressing environmental and social challe
nges effectively. “As global-level data paints a concerning picture that only 15% of our SDG targets are on track, the need to accelerate our efforts on the SDGs is not only critical but also urgent. The role of the private sector is vital in this process,”he remarked.
Sustainability Stories to Inspire
To further amplify the impact of the Road to Sustainability Awards, RLC is producing a documentary series featuring the winning initiatives. This series will be part of a sustaining post-awards communications campaign, aimed at inspiring employees and stakeholders while reinforcing RLC’s leadership in sustainability. By showcasing the real-world impact of these efforts, the company hopes to foster even greater engagement and innovation across its ecosystem.
As the event concluded, Mr. Gokongwei left attendees with a powerful message: “Let’s take this opportunity to reflect on our collective achievements, celebrate our shared successes, and renew our commitment to building better, together.”
The 3rd Road to Sustainability Awards was more than just a celebration of milestones — it was a reaffirmation of RLC’s mission to build better, together. Through these initiatives, Robinsons Land continues to set the standard for sustainability in the Philippine real estate industry and beyond.
For more details on Robinsons Land Corporation’s sustainability initiatives, access the 2023 Sustainability Report at www.robinsonsland.com/sustainability.
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During the Green Tank: Climate Innovation Challenge at the Philippine Startup Week 2024, investors emphasized that mission-driven climate enterprises are more likely to scale and deliver tangible environmental benefits to local communities. From Left: Love Gregorie Moral-Perez of xchange Philippines; Edmund Solilapsi of ARQ Capital; Maoi Arroyo of Ignite Impact Fund; James Spurway of Indochina Consulting Pte. Ltd.; Leah Embuido of Foundation for a Sustainable Society, Inc; and Andy Coscolluela of Negros Women for Tomorrow Foundation, Inc.
Impact Pioneers Network, a first-of-its-kind angel investing network in the country by Villgro Philippines and xchange, recently gathered local climate startups and investors during Philippine Startup Week 2024 to address environmental challenges through impact investing, and secure investments and partnerships.
With the focus on urgent need for climate finance, the network organized a pitch showcase called “Green Tank: Climate Innovation Challenge,” featuring startups driving climate adaptation and resilience such as BillionBricks, Altilium Green Energy, Magwayen Organics, Inc. (MAGWAI), Verta Bioenergy, and Lycan Motorcycles, Inc.
The Philippines’ World Risk Index score rose to 46.91 this year from 46.86 last year, maintaining its status as one of the most disaster-prone countries for the 16th consecutive year due to extreme natural events like typhoons, earthquakes, and droughts.
“Now is the opportune time to accelerate climate action,” said Priya Thachadi, co-founder and CEO of Villgro Philippines. “But we need to urgently support climate enterprises to scale their solutions. Impact investing enables market-driven and entrepreneurial innovation through incubation and strategic investments, helping them come up with solutions fit for the country’s needs and challenges, and secure a brighter future for generations.”
Mission-driven and innovative climate solutions
Magwayen Organics, Inc. (MAGWAI) won the Green Tank: Climate Innovation Challenge for its compelling pitch demonstrating the potential of their reef-safe sunscreen to protect ocean reefs, aiming to inspire a new generation of eco-conscious consumers that contribute to the preservation of marine biodiversity.
Investors present in the event include Maoi Arroyo of Ignite Impact Fund, James Spurway of Indochina Consulting Pte. Ltd., Edmund Solilapsi of ARQ Capital, Andy Coscolluela of Negros Women for Tomorrow Foundation, Inc., and Leah Embuido of Foundation for a Sustainable Society, Inc. Through a discussion moderated by Love Gregorie Moral-Perez, director of xchange Philippines, they shared insights into what drives investment decisions and emphasized that mission-driven climate enterprises are more likely to scale and deliver tangible environmental benefits to local communities.
“I look for entrepreneurs who are attached to the mission, not the business model,” said Ms. Arroyo, who is the co-founder of Ignite Impact Fund, an early-stage venture capital fund.
Mr. Spurway, co-founder of Indocina Consulting Pte. Ltd., a group providing corporate finance, investment banking and startup services in Southeast Asia, challenged climate entrepreneurs to maintain a bold vision while keeping their feet firmly on the ground.
The investors expressed interest and made nine offers during the event, paving the way for due diligence and potential investments.
The Impact Pioneers Network and Villgro Philippines will continue supporting investors and startups, aligning goals and finalizing opportunities. They work with partners in the Philippines and Southeast Asia to catalyze private capital for impact-driven enterprises.
KMC Solutions hosted its first-ever KMC Hackathon 2024, bringing together over 100 talented developers for two days of intense innovation and collaboration.
The event, held last Oct. 24 to 25 at KMC Jollibee Tower in Ortigas, offered an inspiring platform where students and industry professionals competed side by side to tackle real-world recruitment challenges.
The grand champion, Craftora from the Technological Institute of the Philippines, made its mark with an incredible story.
“I came here with P100, and I’m leaving with P100,000,” Allyza Toquire, one of the Craftora members, remarked, highlighting the life-changing opportunity the Hackathon provided for students.
Craftora — comprised of Adriana Cayuba, Carl Jerwin Saguinsin, Ms. Toquire, and Kevin Yu — won for its innovative solution, “Apply Ease,” which streamlined recruitment processes through AI-driven filtering and communication enhancements. Craftora took home P100,000 and a year of Proworking access at KMC Office Spaces.
Second place was awarded to Powerhot, with Ariane Lim, Isaiah San Miguel, and Kenneth Alog, who earned P50,000 and six months of Proworking access; while Bravehearts, formed by Cloud Neo Bagtas, Nikka Ysabel Farofaldane, Jann Louis Ontiveros, and Jhonn Raphael, claimed third place, receiving P25,000 and one month of Proworking access.
A special recognition for innovation was given to Neosolve, with Vincent Ferrer, Miguel Kalaw, Lauvigne Lumeda, and Kean Rosales, who also received six months of Proworking access at KMC Office Spaces for their creative solution.
In collaboration with Brainsparks and UXPH, KMC’s Hackathon focused on the “TalentMatch 2.0: Redesigning the Future of Recruitment” challenge. Teams worked tirelessly to address recruitment inefficiencies, such as improving candidate matching, scheduling, and real-time talent availability tracking. Using AI and mobile-first designs, participants delivered solutions that could revolutionize HR systems.
The panel of esteemed judges included industry leaders like Ely Apao, founder of UXPH; Clinton Marsh, CTO of KMC Solutions; Arup Maity, CEO of Xamun.AI; and Chucks Gaza, projects manager of Zoom, among others; as well as industry mentors including Richard Launio of Xamun.AI and Matthew Cua from Brainsparks.
More than a competition, KMC’s Hackathon was a testament to the potential of Filipino talent. The event emphasized the possibility for students to compete against established professionals and come out on top, showcasing their creativity, technical skills, and resilience.
“We’re not just about building teams; we’re about building communities,” KMC Solutions’ Co-Founder Mike McCullough in his closing remarks for the hackathon.
The Hackathon exemplified KMC’s mission to empower Filipino talent, offering students a chance to break barriers and create a lasting impact in the tech industry.
Recognized as a Great Place to Work in Asia and a certified B-corp company, KMC fosters an environment where individuals can thrive, supported by a range of upskilling programs and leadership development opportunities.
The Hackers League Manila BootCamp, held from Nov. 15-17 at the Meridian Innovation Center in Pasay, showcased the incredible potential of decentralized technologies. Over the course of three days, 35 teams participated in developing innovative decentralized applications (dApps) that integrate seamlessly with digital wallets, using the power of the TON API.
Co-organized by OpenVerse and supported by key partners including AEON, TONKEEPER, Gate Ventures, DeDust, K300 Ventures, and Xircus, the event highlighted its mission to empower local talent and foster a thriving startup ecosystem.
“This bootcamp empowers developers and founders by creating a community driven by a shared vision,” Bea Llana, OpenVerse core contributor, emphasized.
As part of the global Hackers League Bootcamp, this event united early-stage founders, developers, and tech enthusiasts in an ecosystem-wide hackathon designed to inspire innovation and foster collaboration.
With a generous $3-million prize pool, the competition underscored its commitment to advancing the TON ecosystem while spotlighting the brilliance of local and international talent.
Three winning projects demonstrated cutting-edge applications of blockchain technology.
Winning first place, HeyWave by Jeremiah Valero, Jr. and Erl Joshua Arcenal is a platform that connects creators with their fans in a more meaningful way. Through unique fan experiences like exclusive meetups, personalized shoutouts, and collaborative livestreams, HeyWave empowers creators to monetize their time while providing fans with opportunities for deeper engagement.
At second place, Aerena allows users to draft their dream teams from a roster of e-sports superstars in Mobile Legends. With the ability to collect unique player cards and unlock rare items, players rise up the leaderboards as they build their personalized e-sports teams. David Gamboa and Seaver Choy are behind this project.
Placing third, Pentaton is a live busking platform on Telegram designed to help independent musicians connect with their audiences. Through live-streamed performances, artists can monetize their music while creating memorable experiences for their fans. The platform has been developed by Arianne Jane Valencia, Mikayla Gutierrez, and Llana Alinsug.
Organizers and partners of the bootcamp are excited about the future of the projects developed. Several teams are already exploring opportunities to scale their solutions and seek further collaboration with investors and industry leaders.
TON and OpenVerse are committed to fostering innovation in the Web3 space and will continue to support the development of dApps that shape the future of the decentralized web. More initiatives and events will be announced soon, offering further opportunities for developers to collaborate and grow their ideas.
ONCE THE INSTALLATION of the remaining three 2.2- megawatt (MW) turbines is completed, the expansion will enable the company to increase the wind project’s capacity to 49.2 MW from 36 MW. — SHELDEEN JOY TALAVERA
AKLAN — Yuchengco-led PetroWind Energy, Inc. (PWEI) is expanding the capacity of its Nabas wind farm by targeting the completion of the remaining three turbines by 2025.
“Nabas-2 remains the only new power plant connected to the Panay sub-grid since the island-wide grid outage in January 2024,” PWEI Senior Manager Jayson A. Abaniel told reporters.
“PWEI is therefore supportive of the government’s grid enhancement project in Aklan, as it will help reduce the risk of generation curtailment at PWEI’s wind farm, leading to more stable power generation and the continued opportunity to supply clean power to the grid,” he added.
PWEI is a joint venture of PetroGreen Energy Corp., the renewable energy arm of Yuchengco-listed company PetroEnergy Resources Corp., and Thailand’s BCPG Public Co. Ltd.
The Nabas-2 project is located south of the existing 36-megawatt (MW) Nabas-1 wind power project, which has been transmitting power since 2015.
PWEI started the second phase of the Nabas-1 wind power project in November last year, which would add six turbine generators to the existing 18 of the first phase.
Once the installation of the remaining three 2.2-MW turbines is completed, the expansion will enable the company to increase the wind project’s capacity to 49.2 MW from 36 MW.
The company secured the service contract for the Nabas wind farm from the Department of Energy in 2009, hoping to export power to the Visayas grid.
Multiple power plants tripped on the second day of the year on Panay Island, causing a major power outage in the Western Visayas. Power was restored three days later.
PWEI’s Nabas wind farm accounts for 4-5% of the demand in the island province. — Sheldeen Joy Talavera
LISTED property developer Megaworld Corp. plans to launch at least three new township projects in 2025, according to its executive director.
“I think we are looking at least two to three minimum for next year’s launches,” Megaworld Executive Director Kevin Andrew L. Tan told reporters last week.
Earlier this month, the company announced that it had reached its target of 35 township projects.
Its 35th township project is being developed by Megaworld’s subsidiary Global-Estate Resorts, Inc., which has allocated P5 billion to develop the 117-hectare Upper Central in Cagayan de Oro City over the next 10 years.
The project will feature a central park, landscaped open spaces, viewing decks, mountain and bike trails, and an adventure park, with sloping terrain reaching up to 245 meters above sea level.
About 40% of the township will be allocated for roads, as well as green and open spaces, the company said.
For the third quarter, Megaworld saw a 24.9% increase in its third-quarter attributable net income to P5.17 billion from P4.14 billion a year ago, led by growth across its key businesses.
Megaworld’s third-quarter revenue jumped by 25% to P20.69 billion from P16.56 billion last year.
Real estate sales grew by 31% to P13 billion on sustained demand across the company’s township developments, led by residential sales.
Rental income rose by 7.4% to P4.83 billion, while revenue from hotel operations, driven by Megaworld Hotels & Resorts, increased by 37% to P1.28 billion.
At the local bourse on Friday, shares in the company gained three centavos, or 1.42%, to end at P2.15 apiece. — Ashley Erika O. Jose
MINOTTI’S showroom in Bonifacio Global City has a new look, and new collections to boot.
Living Innovations’ (which distributes the brand here; along with several other European brands) General Manager Ferdinand Ong toured us around the showroom on Dec. 3, showing off Minotti’s 2023 and 2024 collection.
There was a red marble-topped table supported by a steel column, and a beige couch with leather as fine as on any Italian handbag. There were green boucle sofas, with a texture resembling moss, with counterparts in white boucle appearing like snow. A round table was in the middle of a sunken area, decorated as if to be used for cocktails, signaling a return to glamorous entertaining: this was paired with a gorgeous white marble dining table, and a monolithic liquor cabinet.
For its 2024 Collection, Minotti collaborated with the Brazilian modernist styles of Marcio Kogan/Studio MK27, the Japanese tradition of Nendo, the Scandinavian philosophy of Italian-Danish duo GamFratesi, the eclectic design language of Hannes Peer, and Giampiero Tagliaferri’s unique fusion of Milanese and Californian aesthetics.
We noticed the changes in the showroom: a few walls have been knocked down, and the room was a little less bright, a deliberate choice: “We wanted to be more of a home setting, rather than a showroom,” said Mr. Ong in an interview.
The showroom has been here since 2014, though the brand had been distributed in the country since 2002. “Believe it or not, our first showroom was only 67 sqm (square meter) on the 2nd floor of the Makati Shangri-La Retail Arcade,” he said. The new showroom now stands at 300 sqm.
KNOCKOFFS When we visited Minotti’s showroom when it first opened in 2014, we noticed a tambourine-shaped table, in coffee table and end table configurations. Less than 10 years after, the style can now be found in many homes, nail salons, and other establishments: of course, it doesn’t mean that they’re actually from Minotti. Mr. Ong says about these cheap, ubiquitous knockoffs: “We do understand that copying is the biggest form of flattery,” he says, paraphrasing the aphorism. “We also understand that people should know that they’re buying a knockoff, if they are.”
He said that some customers who have bought these copies have come to their showroom to complain, professing their ignorance that luxury furniture could be copied. Some have bought knockoff versions of their couches, only for them to sink in two years.
“It’s sad when that happens,” Mr. Ong said in a mixture of English and Filipino. “But if they can’t buy (the real thing) because of budget, we’d like to explain to them what the difference is,” he said.
They offer other services and warranties for their products, but then, pointing out the two-year warranty on their sofas, he said, “But of course, most of our sofas do last 20-plus years.”
Perhaps part of the desire for Minotti is the changing needs of the client. “Now they want everything branded,” he said. “I think they want to entertain more at home, compared to before. The living room was not really used. Now, they want to use every part of the home.” Social media also comes into play, what with celebrity house tours. “The clients are more empowered, they’re more knowledgeable with what they want,” he said.
“Dati, ano lang sabihin ng architect nila, susundin nila (they used to just follow what their architect said),” he said. “But now, they want their own flair; their own style.”
EUROPEAN LIVING Mr. Ong’s company, Living Innovations, does not only distribute Minotti in the Philippines, but also Bulthaup (kitchens), Gaggenau (appliances), and Bang & Olufsen (sound systems) in the Philippines. For him, it’s about changing lives (and not just filling a home). “The main reason why I brought it in was because I wanted to take out the pwede-na (good enough) mentality in Pinoys,” he said. “To give an opportunity for them to see why this brand is so high-end, so that hopefully, Filipinos can translate (that) into their daily life.”
The Minotti Manila showroom is on the ground floor of Fort Victoria, 5th Avenue corner 23rd St. in Bonifacio Global City, Taguig. — Joseph L. Garcia
With some of the most expensive power rates in Southeast Asia, the Philippines stands to benefit immensely from rooftop solar power installations in urban areas like Metro Manila. However, adoption is hampered by a lack of public awareness and the need for more government support. — ROSALINA PALANCA-TAN
MANY households are interested in adopting rooftop solar power systems, but concerns about provider trustworthiness and high costs hinder their adoption, according to a study from Ateneo de Manila University.
Homeowners recognize that solar energy contributes to environmental protection by reducing greenhouse gas emissions and air pollution, helping combat the effects of climate change, according to a study by Department of Economics Professor Rosalina Palanca-Tan, published in the journal Challenges in Sustainability.
In a survey of 143 respondents, 82% expressed some interest in adopting solar panels, but only 20% had firm intentions to do so.
Despite the economic and environmental benefits, respondents were reluctant to invest due to the upfront cost needed for installation.
According to the study, a home rooftop solar power setup costs approximately $1,700 (₱100,000), equivalent to more than half a year’s salary for minimum wage workers.
“Many households are unsure if this initial expense is justified by long-term financial and environmental returns,” it said.
The survey found that, aside from costs, trustworthiness of providers, clarity on warranties, and perceived installation quality were equally important considerations.
The study found that while most respondents understood renewable energy’s role in combating climate change, few knew the specific benefits of rooftop solar power or how to find reliable installation services.
“Thus, the study urges stronger government intervention and public education campaigns. In particular, the study suggests improving net metering rates, expanding access to financing options, and accrediting trustworthy RTSP (rooftop solar power) providers to build consumer confidence,” the study said. — Sheldeen Joy Talavera
SUSTAINABILITY BUILT, EXCEPTIONALLY DESIGNED
