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Crypto Fight Night ONCHAIN® ignites the ring at Philippine Blockchain Week 2025

Photo provided by Crypto Fight Night

One of the most thrilling experiences at Philippine Blockchain Week 2025 (PBW) is set to explode on June 10! Crypto Fight Night and ONCHAIN® team up for a high-energy fusion of live boxing and Web3 culture that all true boxing fans wouldn’t want to miss. Held at Hall 4 of the SMX Convention Center Manila, this event is where fighters, blockchain innovators, and digital pioneers collide.

Crypto Fight Night, ONCHAIN®, and PBW 2025 come together to spotlight the fearless spirit of the decentralized world — with physical grit in the ring and entrepreneurial fire in the crowd.

“Crypto Fight Night is where the boldest in Web3 step into the ring to claim their legacy,” said Rahul Suri, Co-founder of CFN. “In collaboration with ONCHAIN® and as the headline event at Philippine Blockchain Week 2025, this is more than a spectacle — it’s a showcase of power, ambition, and the unstoppable force of community. This isn’t just a fight night, it’s a movement.”

What to Expect:

John Riel Casimero — Photo provided by ONCHAIN®

Crypto Fight Night ONCHAIN® delivers an unforgettable evening where physical power meets digital innovation. Guests can expect professionally staged live boxing matches featuring rising amateur talent, electrifying appearances by 3× World Champion John Riel Casimero and fellow champion Denice Zamboanga, and a one-of-a-kind networking environment brimming with founders, investors, creators, and Web3 leaders.

All of this unfolds in an immersive fight night atmosphere — complete with high-energy lighting, crowd intensity, and music that amplifies every moment. It’s not just an event — it’s a full-sensory experience where the communities of PBW, ONCHAIN®, and Crypto Fight Night come together in force.

“Crypto Fight Night ONCHAIN®️ — presented by ONCHAIN®️ Ramp — fuses the pulse of live sport with Web3’s creative energy,” said Jason Dominique, CEO and co-founder of ONCHAIN®️ Labs. “Our goal is to back builders, celebrate their communities, and prove that acquiring on-chain digital assets can feel as effortless as taking a seat ringside.”

Denice Zamboanga — Photo from https://www.instagram.com/p/DJMDNT3JDuM/

“We’re beyond thrilled to partner with Crypto Fight Night Onchain in staging this landmark event at Philippine Blockchain Week!  With CFN aligning with the most prestigious blockchain conferences globally, the partnership truly highlights our growth and influence in the space,” said Janelle Barretto, President and Co-Founder of Philippine Blockchain Week.

How to Attend:

Crypto Fight Night, presented by ONCHAIN®, is an official marquee event of PBW 2025 open to registered attendees. Register here for the event: https://lu.ma/qezmf3rg.

PBW Tickets: Quantum Pass (VIP), Cipher Pass (General Admission), and Block Pass (Expo Access) would grant you entry to Onchain with VIP Holders getting priority seating.

Note: No additional ticket is required. Existing PBW 2025 ticket holders can enter for FREE. Visit https://app.moongate.id/e/philippine-blockchain-week-2025 for more information on PBW Tickets.

Event Snapshot:

What: Crypto Fight Night ONCHAIN® at PBW 2025
When: June 10, 2025
Where: Hall 4, SMX Convention Center Manila
Who: Registered Philippine Blockchain Week 2025 attendees only

About the Brands:

Crypto Fight Night is a high-impact, global boxing event where the worlds of combat sports and cryptocurrency collide. Featuring influencers, pro fighters, and crypto personalities in the ring, CFN blends entertainment with Web3 culture to create viral moments, build community, and drive massive digital engagement.

Photo provided by ONCHAIN®

ONCHAIN® is a payments company building infrastructure to move everyday finance on-chain. Its flagship product, ONCHAIN® Ramp, enables token-based projects to list and sell digital assets directly to buyers worldwide — no exchanges, no custodians, no unnecessary steps. Built on the ONCHAIN® Payment Network (OPN), the platform has attracted over 300 early access signups from builders seeking a faster, simpler path to market.

Philippine Blockchain Week is the country’s flagship blockchain event, uniting global and local ecosystems in one platform to drive education, innovation, and inclusion through Web3. Now in its fourth spectacular year, PBW remains the Philippines’ premier event where global visionaries converge to explore emerging trends, share insights, and drive meaningful collaborations that shape the future of blockchain.

Partners and Acknowledgments:

Philippine Blockchain Week 2025 is made possible in collaboration with Blockchain Council of the Philippines, PBW 2025 Co-Hosts 9CAT Group of Thailand and our Gold Sponsors — OKX, ONCHAIN®, Political Pump. Silver Sponsors — DVCode, Maya, Venom. Bronze Sponsors — Celo Philippines, Chatoshi.Ai FZCO, XChain Foundation, Stray Shot, World Coin, and Coins.ph.

Lastly, we wanted to thank our Media Partners — Bitcoin.com, Bitcoin Addict, BusinessWorld, CoinGeek, CignalPlay, CryptoNewsZ, CryptoniteUAE, Jinse Finance, Manila Bulletin, Museigen.Io, NameCoinNews, Newswatch Plus, Plumdale.Co, The Philippine Star, TNC The New Channel, Times of Blockchain, UseTheBitcoin.com, WazzupPilipinas.com, Web3TV.

For media inquiries, collaborations, or to get your PBW tickets to gain free access to CFN ONCHAIN Fight Night, head to www.pbw.ph.

 

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

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House approves P200 wage hike bill

MEN are seen working at a construction site in Navotas City, June 22, 2024. — PHILIPPINE STAR/RYAN BALDEMOR

By Kenneth Christiane L. Basilio, Reporter

THE HOUSE of Representatives on Wednesday approved on third and final reading a measure seeking a P200 across-the-board minimum wage hike for workers in the private sector, despite concerns over its potential inflationary effects and adverse impact on small businesses.

Lawmakers voted 171-1-0 to approve House Bill No. 11376, paving the way for the possibility of a first legislated wage hike since the late 1980s, when a law created regional wage boards to dictate pay rates.

Congressmen in February passed the bill on second reading, while the Senate greenlit a counterpart bill seeking a P100 wage increase last year.

However, the House’s approval of the wage hike comes just a few days before Congress adjourns for a final time on June 13.

In a statement after the approval, the Trade Union Congress of the Philippines (TUCP) urged the House and Senate leadership to immediately convene a bicameral conference committee to reconcile disagreeing provisions of their bills.

“I appeal to all my fellow bicameral committee conferees — my counterparts in the Senate and my colleagues in the House — let us get this done, and get it done now,” Deputy Speaker and TUCP Party-list Rep. Raymond Democrito C. Mendoza said in the statement. “We are way past the stage of whether we will pass a legislated wage hike, but how much that wage hike will be.”

“Regardless of whether it ends up closer to P100 or P200, this will be the most significant wage increase in nearly four decades,” he added.

The Philippines sets minimum wages regionally through wage boards, but lawmakers argue the system delivers slow and meager increases that fail to keep up with rising costs.

Around 55% of Filipino families see themselves as poor, according to an April Social Weather Stations survey. Data from the Philippine Statistics Authority in 2023 showed that a family of five needs at least P13,797 a month or P460 daily to make ends meet.

Giving a nod to a legislated wage hike would provide a “real boost” to achieving a livable wage, Federation of Free Workers President Jose Sonny G. Matula said before the bill’s approval, adding that it’s “pro-worker, pro-poor and pro-local economy.”

“A legislated wage hike breaks the cycle of barya-barya (loose change) adjustments from regional wage boards,” he said in a Viber message. “For minimum wage workers nationwide, this means a real boost to daily survival — a step toward a living wage.”

However, only five million workers would benefit from the wage hike, Sergio R. Ortiz-Luis, Jr., president of the Employers Confederation of the Philippines, said before the bill’s approval.

“Only 10% of employees would be affected by the legislated wage increase,” he said in a phone call, noting that most workers are in the informal sector. “Most are, for example, farmers, fisherfolk, tricycle and jeepney drivers and market vendors.”

Close to 50 million Filipinos were employed in March 2025, according to government data.

Companies would likely struggle to keep up with a legislated wage hike, prompting them to raise the prices of goods and services they provide, which could be inflationary, John Paolo R. Rivera, a senior research fellow at the Philippine Institute for Development Studies, said before the bill’s approval.

“Businesses could pass on the higher labor costs to consumers through increased prices,” he said in a Viber message. “However, the inflationary impact would depend on the scale of the wage hike and whether it is staggered or accompanied by productivity gains.”

An immediate wage hike could force companies to downsize their workforce, leading to job shedding and reduced hiring, he said. “Micro, small and medium enterprises (MSME) may struggle to absorb higher wage bills.”

MSMEs account for more than 99% of all businesses in the Philippines and generate 67% of the country’s total employment, according to the United Nations Development Program.

The Labor department may provide incentives to small businesses to help them comply with the legislated wage increase, according to the proposed law. Companies with fewer than 10 employees may be exempted from the measure too.

It could cost the government P1.5 billion monthly if it chooses to subsidize small businesses just so they could comply with the proposed wage hike, said Mr. Ortiz.

“It could cost up to P50 million a day,” he said. “Where will that come from?”

Lawmakers should instead let regional wage boards handle salary increases, Mr. Ortiz said. “There are regional wage boards that are raising wages every year.”

Congress should also look at implementing a legislative wage hike by phase or through a region-based approach to help balance the interests of businesses and workers, said Mr. Rivera.

PHL shows solid growth momentum, OECD says

Pedestrians walk across the street in Cubao, Quezon City, May 31, 2025. — PHILIPPINE STAR/NOEL B. PABALATE

THE PHILIPPINES’ growth momentum remains “broadly stable,” even as global trade tensions would make it hard to hit the 6-8% growth target in the next two years, an Organisation for Economic Co-operation and Development (OECD) economist said.

“The Philippines continues to show very solid growth momentum, supported by domestic demand and somewhat by public investment,” OECD economist Cyrille Schwellnus said at a briefing on Wednesday.

In its latest Economic Outlook, the OECD projected below-target growth for the Philippines for 2025 and 2026. It sees the Philippine economy growing by 5.6% this year, and picking up to 6% in 2026.

Mr. Schwellnus cited robust labor market and election-tied expenditure as main drivers of growth.

“But investment is going through a soft patch, growing well below its average over the past three years. Exports, again, are growing at a healthy pace. But we expect that to weaken on the back of escalating global trade tensions,” he said.

In April, the US slapped higher reciprocal tariffs on most of its trading partners’ goods exports, though this has been suspended until July, except for the baseline 10% which still remains in effect. The US slapped the Philippines with a 17% reciprocal tariff, the second lowest among its neighbors.

Mr. Schwellnus said the government’s 6-8% growth target is “perfectly attainable” in the medium term.

“But in the very short term, in 2025, 2026, we see [the target] as difficult to reach,” Mr. Schwellnus said.

In the first quarter, gross domestic product (GDP) grew by a weaker-than-expected 5.4% amid heightened uncertainty arising from the Trump administration’s tariff policies.

“Now in 2025, we have additional headwinds, especially from the external side, so a slowdown of global trade, but also on the domestic side, where we see some fiscal consolidation going on over the next couple of years,” Mr. Schwellnus said.

The OECD cut its global growth outlook to 2.9% in both 2025 and 2026, noting that “substantial barriers to trade, tighter financial conditions, diminishing confidence and heightened policy uncertainty are projected to have adverse impacts on growth.”

The OECD noted the possible impact of the global economic slowdown on remittances from overseas Filipino workers.

“If there were to be a larger-than-expected slowdown in major economies, such as the US or China, that would, of course, have an effect on exports of the Philippines, and it might also impact remittance flows, which would then impact domestic consumption and investment,” Mr. Schwellnus said.

However, the OECD said the impact on remittance flows was not accounted for in its growth projection for the Philippines.

Mr. Schwellnus said the Philippines can immediately implement reforms, especially to reduce barriers to foreign direct investment.

In the same report, the OECD projected that inflation would settle at 2% this year and 3.1% in 2026 “amid balanced domestic demand and currency stability.”

“Looking ahead, we expect inflation to gradually return to 3% as food prices stabilize and monetary policy continues to ease,” he said.

BSP Governor Eli M. Remolona, Jr. earlier said cooling inflation has given them “plenty of room” to cut rates this year. Mr. Remolona said they could deliver two more rate cuts this year, in “baby steps” of 25 basis points.

SERVICES UNAFFECTED
Meanwhile, the Philippines’ services sector is unlikely to be impacted by the US tariff policies, S&P Global Ratings said, though the industry could eventually face strains in the coming years.

“In the Philippines, the story is more nuanced. The Philippines is active in the export of certain things. One is services, especially business process outsourcing. It is a big factor for the Philippine economy,” S&P Global Ratings Senior Economist Vishrut Rana said in a webinar.

The service sector will likely be sheltered from the initial impact of the trade tensions, he said.

“One element of shelter is that for services. Trade seems to be unaffected by the tariff measures for the time being. It could come under pressure over the next few years,” he added.

United States President Donald J. Trump’s reciprocal tariffs have only covered goods, not services.

Meanwhile, the credit rater also noted that the Philippines’ electronics exports are also spared for the time being.

“The Philippines is also a significant player in the electronic supply chain in Asia and the Pacific (APAC). However, for the time being, it doesn’t seem to be a focus area,” Mr. Rana said.

The US’ reciprocal tariffs will not apply to certain goods, such as semiconductors, copper, pharmaceuticals, gold, and minerals that are not available in the US, according to the White House’s April 2 tariff announcement.

Electronic products were the top commodity export of the Philippines last year, accounting for more than half or 53.4% of its total exports.

“On broader trade, there could be some pressure on the electronic space. We are watching that at the moment,” Mr. Rana said. “For now, the APAC electronic sector is performing relatively well, which is supporting the sector in the Philippines also.” — ARAI and LMJCJ

BSP proposes changes to regulatory relief policy

BW FILE PHOTO

THE BANGKO SENTRAL ng Pilipinas (BSP) is seeking to amend its regulatory relief policy for banks in order to provide them with more support during calamities and disasters.

“Consistent with the aim of strengthening banks’ operational resilience through business continuity or disaster recovery measures, the BSP is amending the regulatory relief policy for banks by providing additional regulatory measures,” it said in a draft circular.

“The BSP recognizes the vulnerability of the Philippines to both natural and human-induced hazards which can lead to certain areas being declared under a state of calamity.”

These amendments seek to make regulatory relief measures more uniform and systemic, as well as boost banks’ capacity to bounce back from natural calamities.

The draft circular proposes to formally adopt several relief measures that were already given to banks affected by Tropical Storm Kristine and Super Typhoons Leon, Ofel and Pepito, which were introduced in January.

Under the draft rules, banks may avail themselves of relief measures within one year from the onset of a calamity. This could be earlier than the date of the official declaration of a state of calamity, it added.

Banks may also be granted a temporary grace period for loan payments and a temporary exclusion from past due and nonperforming loan (NPL) computations.

“Banks may grant borrowers in affected areas a grace period of up to six months for loan repayments, which may start from the inception date of the calamity,” it said.

“Loans extended to affected borrowers may be temporarily excluded from past due and NPL computations from one year from the inception date of the calamity.”

The BSP also included in the draft circular some interventions that were first implemented during the coronavirus disease 2019 (COVID-19) pandemic.

These include easing the identification requirements for households or micro-businesses in affected areas; relaxation of notification requirements related to changes in banking days and hours as well as temporary closure of bank branches and branch-lite units.

For example, branches that must temporarily close due to hazards are exempt from notification requirements.

Banks may also defer the opening of approved branches or branch-lite units in affected areas for up to three years.

Meanwhile, the draft circular also proposes a staggered booking of impairment losses.

“Impairment losses from banks’ own physical assets, including bank premises and equipment, due to hazards may be recognized over a three-year period, subject to BSP evaluation and approval,” it said.

“Similarly, the three-year period is also proposed to apply to the staggered booking of credit loss allowances.”

AGRI LOANS
The central bank is also introducing relief policies specifically for the agriculture sector.

“Meanwhile, since the agricultural sector is usually affected by climate-related hazards, the BSP is proposing a standardized forbearance measure covering agricultural loans,” it said.

“Loan payments for agricultural borrowers may be deferred, with repayment terms adjusted based on crop cycles and other relevant factors,” it added.

For example, the deferment period for loans related to the production of palay and corn is set at six months; while those for other short-term crops is at seven months, sugarcane at 12 months and cassava at 14 months.

The proposed rules also detail guidelines on the grace period for rediscounting obligations.

“Rediscounting banks may apply for a 60-day grace period to settle the outstanding rediscounting obligations with the BSP as of the inception date of the calamity.”

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said that improvements in the relief measures are a welcome development.

“The Philippines is one of the hardest-hit countries by natural calamities in a given year,” he said.

“So, a framework on regulatory relief measures as a stop-gap measure (will help) better respond to the adverse effects on some borrowers, though transitory in nature until they are back on their feet once supply chains and business transactions normalize.” — L.M.J.C. Jocson

New SEC chief urged to boost capital market development

FRANCISCO EDRALIN LIM — ACCRALAW.COM

By Revin Mikhael D. Ochave, Reporter

THE RECENT appointment of prominent lawyer Francisco Edralin Lim as the new chairperson of the Securities and Exchange Commission (SEC) received the backing of top corporate executives, business groups, and market analysts, who urged him to push initiatives to develop the local capital markets.

Philippine Chamber of Commerce and Industry Chairman George T. Barcelon said Mr. Lim, former president and chief executive officer (CEO) of the Philippine Stock Exchange (PSE) should pursue efforts to encourage small- and medium-sized enterprises to list on the local bourse.

“Compared with other Southeast Asian countries, the number of listed companies in our bourse is quite limited. Maybe it would be something that he would look into and provide support for the listing of small- and medium-sized companies,” he said in a phone interview.

Mr. Barcelon also pressed Mr. Lim to further improve the SEC’s systems and accelerate the processing of transactions.

On Tuesday, Malacañang announced the appointment of Mr. Lim as SEC chief, replacing Emilio B. Aquino, who steps down on June 6.

Mr. Lim was the president and CEO of the PSE from 2004 to 2010 and is a senior partner at the Angara Abello Concepcion Regala & Cruz Law Offices. Under the Securities Regulation Code, the SEC chairperson must be a lawyer.

Mr. Lim was also a former president of the Management Association of the Philippines and the Financial Executives Institute of the Philippines (FINEX).

In a Viber message, FINEX President EJ A. Qua Hiansen said Mr. Lim is expected to boost the SEC’s push for capital market development.

“We expect Mr. Lim’s leadership to drive the SEC in developing and strengthening our capital markets, ensuring a regulatory framework that is responsive to evolving market dynamics while promoting good, ethical business practices,” said Mr. Qua Hiansen, who is also the chief financial officer of Del Rosario-led conglomerate PHINMA Corp.

“His reputation as a staunch advocate for the development of our capital markets, coupled with his dedication to safeguarding investors, makes him an exceptional choice. We are confident that Mr. Lim’s leadership will result in a positive impact on the SEC’s vital mission,” he added.

SM Investments Corp. President and CEO Frederic C. DyBuncio welcomed Mr. Lim’s appointment, saying that the Sy-led conglomerate remains supportive of efforts to help create an environment for the growth of businesses and communities.

“With his deep understanding of the capital markets, we look forward to continued progress in strengthening investor trust and good corporate governance,” he said in a Viber message.

AP Securities, Inc. Research Head Alfred Benjamin R. Garcia said Mr. Lim is expected to drive market improvements following the recent signing of Republic Act No. 12214, or the Capital Markets Efficiency Promotion Act (CMEPA).

“He might be the best pick for SEC chair in this CMEPA era, since he’s from the capital markets and he knows how things work on both the regulator and trading participant side,” he said.

Under the CMEPA, the stock transaction tax was slashed to 0.1% from 0.6%, while the documentary stamp tax (DST) on the original issue of shares was cut to 0.75% from 1%.

China Bank Capital Corp. Managing Director Juan Paolo E. Colet said Mr. Lim is expected to work closely with the PSE and lawmakers to craft and accelerate measures to make the local stock market more attractive to companies and investors.

“We also expect him to push better corporate governance standards and stronger protections for minority shareholders so that investors would have greater confidence in participating in the equity market,” he said in a Viber message.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message that Mr. Lim is expected to work on the integration of the PSE with its regional counterparts.

“We hope to see him push for further reforms, further development, and adopt more global best practices,” he said.

Leveraging technology, empowering local communities to help protect Sierra Madre and Mt. Makiling

Tree planting initiative takes root. CJ Alegre, GCash Head for Sustainability (right) joins UPLB-CFNR Dean Marlo D. Mendoza, MDM (center), and Arthur Umali (left), University Research Associate at UPLB during the ceremonial planting of an endemic species, Dillenia philippinensis, locally known as Katmon. This collaborative effort between the university and corporate sector demonstrates their shared commitment to environmental conservation and sustainable ecosystem restoration.

Planting 130,000 forest and fruit trees in the two UP Land Grants by 2029 through the support of local communities and the 22M GForest Green Heroes

The University of the Philippines Los Baños (UPLB) is partnering with GCash, the leading Philippine finance super app, through its GForest program, to address environmental threats like illegal forest conversion and accelerate the restoration of degraded lands within the Mount Makiling Georeserve and the Sierra Madre mountain range. The strategic partnership aims to protect and reforest 250 hectares of land within the two land grants managed by UPLB by planting at least 130,000 forest and fruit trees during the first phase, and another 25,000 seedlings for urban and roadside planting in parts of Mount Makiling Georeserve by 2029.

UPLB, as the Center for Excellence in Forestry Education, is set to implement its data-driven and science-based approach to identify suitable types of trees,  strategic project areas, and apply implementation strategies to ensure environmental conservation and reforestation efforts translate into meaningful long-term impact.

UPLB Chancellor Jose V. Camacho Jr. (left) and UPLB-CFNR Dean Marlo D. Mendoza, MDM (right) showcase their institution’s commitment as the Center for Excellence in Forestry Education to restore vital forest ecosystems nationwide through innovative partnerships.

The academic institution also seeks to tap local communities as long-term partners in planting and stewardship, empowering them through livelihood opportunities and ongoing involvement. These include women’s groups, people’s organizations, and qualified UPLB community members.

UPLB also seeks to engage participation and support from relevant local government units (LGUs) in Laguna, municipalities in Quezon province, and national-level government agencies like the Department of Environment and Natural Resources (DENR) and the Department of Science and Technology (DICT).

Marked by a ceremonial contract signing led by UPLB, its College of Forestry and Natural Resources (CFNR), the Land Grant Management Office (LGMO), and GCash, through the support of its 22-million GForest Green Heroes, pledged to plant at least 130,000 forest and fruit trees across 250 hectares in two land grant areas managed by UPLB in the Sierra Madre Mountain Range.

In addition, 10 kilometers of road within the Mount Makiling Forest Reserve will be planted with species ideal for urban settings. Another 25,000 seedlings will also be cultivated for roadside planting in various parts of Laguna province.

Roadside planting in the Mt. Makiling Georeserve will provide multiple benefits, including environmental, social, and economic advantages. In terms of environmental impact, it will lead to improved air and temperature quality, carbon sequestration, noise reduction, urban flood mitigation, pollination support, and urban wildlife habitat. From a social and economic perspective, it can improve recreational opportunities and mental wellbeing, lead to energy savings, and increase property values.

“Sierra Madre is one of our last frontiers when it comes to [our remaining] intact forests,” shared UPLB-CFNR Dean Marlo D. Mendoza, MDM. [This] is rich in terms of biodiversity [and is] very high in endemism, which means a lot of species that are in Sierra Madre can only be found there or [can be found in] the Philippines and not other parts of the world.”

Vision for a Greener Future. UPLB-CFNR Dean Marlo D. Mendoza, MDM leads initiatives leveraging technology and empowering local communities to help protect Sierra Madre and Mt. Makiling through the strategic partnership between the university and GCash.

Luzon’s backbone against natural hazards

The Sierra Madre mountain range, which spans approximately 600 kilometers from Cagayan to Quezon Province, is known as the “backbone of Luzon” and is home to lush forests and vital watersheds that support the nation’s diverse wildlife populations. In addition, it acts as a natural shield against typhoons coming from the Pacific, protecting the Philippines by weakening and redirecting storm winds before they reach inland areas.

The end goal of the UPLB and GCash reforestation initiative is to help restore and fortify parts of the UP Sierra Madre Land Grant. The trees planted aim to convert degraded lands (remnants of past logging, timber poaching, and unsustainable farming) into thriving ecosystems of tall native forest species that form a closed or semi-closed canopy.

Fundamental to the success of this program is UPLB’s sourcing process, which focuses on native tree species that are well-adapted to the local environment and support biodiversity. UPLB researchers have selected a diverse mix of native species, such as Mayapis, Apitong, White Lauan, Almon, and Palosapis, that can support canopy restoration while promoting ecological diversity.

Meanwhile, native tree species for urban areas— such as Salingogon, Katmon, Aunasin, and Pamitoyen have been selected based on tree architecture, height, climate adaptability, and the benefits offered, such as aesthetic values, shade, pollution reduction, and habitats for wildlife. To complete the project in the coming months, UPLB will also recruit the help of local communities to oversee the planting, care, monitoring, and evaluation activities thereafter.

Mapping Green Recovery. The UPLB-GCash partnership aims to restore degraded ecosystems, enhance biodiversity, and empower local communities as stewards of the Philippines’ precious forest resources through innovative conservation approaches.

By championing collaboration among scientists, organizations like GCash, and local communities, this partnership creates a holistic approach that addresses environmental challenges, enhances resilience, and turns residents into long-term environmental stewards. The program includes community-based monitoring to ensure survival rates and continuous ecological and social benefits.

“We are excited about this new partnership with GCash, as it allows us to explore the environmental and socioeconomic impacts of reforestation,” said Mendoza. “Together, we can implement UPLB’s proven methods to maximize benefits for both ecosystems and local communities.”

“Through this partnership, GCash continues to strengthen its commitment to sustainability. As a tech for good platform, we can bridge users with sustainability partners and environmental institutions, like UPLB, and contribute to real-world environmental efforts,” CJ Alegre, GCash Head for Sustainability, added. “At GCash, we believe that technology can be a powerful tool for positive change.”

 

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Maynilad eyes P20.7-B spending through 2027 to cut water losses

MAYNILADWATER.COM

WEST ZONE concessionaire Maynilad Water Services, Inc. plans to invest up to P20.65 billion from this year to 2027 to reduce water losses.

For 2025, Maynilad targets to reduce non-revenue water (NRW) to 34% from 39.9% last year, Maynilad Central NRW Head Ryan Jamora said during a forum on Wednesday.

NRW refers to water that is not billed and is lost due to leaks or illegal connections.

The company also aims to lower its average NRW level to 25% by 2027.

“We are working toward our target of reducing NRW to 34% this year — a substantial improvement from the 66% NRW level prior to Maynilad’s re-privatization in 2007,” Mr. Jamora said.

“It is a challenging goal, but we are leveraging advanced technologies and the expertise of our skilled teams to sustain water loss recovery across our network,” he added.

Maynilad is conducting leak detection and repair activities using advanced technologies such as correlators, acoustic loggers, and ground microphones deployed across its growing network of district metered areas.

The three-year capital expenditure forms part of the company’s P31-billion budget for 2023 to 2027.

According to its May 14 prospectus, the NRW budget covers meter management, leak detection equipment procurement, leak detection activities, pipe replacement, and service area expansion.

As of March 31, Maynilad has repaired 18,070 pipe leaks, a 41% increase from the same period last year, driven by enhanced leak detection and accelerated repairs as part of its NRW reduction program, the company said.

Despite significant investment, Mr. Jamora said reducing NRW remains challenging due to the “intensive resources” and specialized equipment needed to detect leaks.

He also noted challenges related to excavation access and multi-level government permits required for road reblocking and digging.

“It is important for the public to understand that we are doing NRW reduction to make our water supply more reliable,” Mr. Jamora said. “If we don’t reduce the NRW, there is a greater chance that our customers will experience water service interruptions,” he said.

Maynilad is preparing for an initial public offering (IPO) targeting P45.8 billion, expected on July 17.

The company is required to offer at least 30% of its outstanding capital stock to the public by January 2027 under its legislative franchise.

Metro Pacific Investments Corp., Maynilad’s majority shareholder, is one of three Philippine subsidiaries of First Pacific Co. Ltd., alongside Philex Mining Corp. and PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., holds an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera

Ayala-led IMI divests Czech unit to China’s Keboda

GLOBAL-IMI.COM

AYALA-LED semiconductor manufacturer Integrated Micro-Electronics, Inc. (IMI) is selling its Czech Republic manufacturing subsidiary to a unit of China-based Keboda Technology Co., Ltd. for €10.03 million (P636.84 million) as part of its ongoing restructuring and cost-efficiency program.

IMI subsidiary Coöperatief IMI Europe UA signed a share purchase agreement to sell 100% of its shares in IMI Czech Republic (IMI CZ) to KEBODA Deutschland GmbH & Co. KG, subject to post-closing adjustments.

“The move will further reduce overhead and administrative expenses as the company consolidates its operations in Europe into its Bulgaria and Serbia facilities,” IMI said in a regulatory filing on Wednesday.

“This sale was executed as part of IMI’s restructuring and footprint rationalization program which was initiated in the second half of 2024,” it added.

The transaction will be settled in three tranches: €1 million upon signing of the share purchase agreement, €8.53 million upon closing, and €500,000 ten business days after the finalization of the closing accounts.

IMI said it remains fully committed to its customers in the Czech Republic, noting that a majority of those previously served by IMI CZ have already been transitioned to its facilities in Serbia and Bulgaria.

The company said it will ensure uninterrupted service for remaining customers until they are relocated to other IMI sites or until their products reach end-of-life, under a manufacturing services agreement with Keboda that is included in the share purchase agreement.

The transaction will be completed once conditions precedent are fulfilled, including governmental approvals, settlement of financing agreements, completion of business carve-outs to other IMI European sites, and execution of the manufacturing services agreement between IMI and Keboda.

IMI has been optimizing its global footprint through the closure of facilities in California, Malaysia, Singapore, Japan, and Chengdu.

For the first quarter, IMI reported a $3.3-million net income, reversing a $3.7-million net loss in the same period last year, driven by cost rationalization measures.

Founded in 2003, Keboda is a Shanghai-headquartered, China-listed company that provides system solutions for automotive intelligent and energy-efficient electronic components.

IMI shares rose by 0.92% or two centavos to P2.20 apiece on Wednesday. — Revin Mikhael D. Ochave

A filling dinner fills purses for charity

SHERATON MANILA’S Andrea Burzio — INSTAGRAM.COM/SHERATONMANILA

THE Marriott International threw a Charity Dinner Soirée on May 30 at the Sheraton Manila, and while leaving guests quite full (what with contributions from the head chefs of various Marriott properties across the country), their chosen charities will also have filling amounts in their purses: they’ve raised almost a million pesos, and donated P750,000 more.

For the appetizers, there was a whole tuna sashimi station from General Santos (from Fairfield by Marriott Cebu Mandaue City chef Jaimes van Haght), and a Cabalen Lumpiang Sariwa (fresh spring rolls) stuffed with tofu from Clark Marriott Hotel’s Patrick Sanchez.

Kibum Park from the Sheraton Manila presented a Chadol Doenjang Jigae (a Korean soup made with soybean paste), while Marriott Manila’s Meik Brammer offered a Carrara Wagyu Ribeye MB 4-5 Roast (the line to this at the buffet stretched all night long).

Meanwhile, The Westin Manila’s Rej Casanova made Arroz Negro Meloso con Pescado al Vapor Pilpil (the grouper was cooked sous vide and emulsified with garlic oil; topped on rice with a texture of risotto). Courtyard by Marriott Iloilo’s Bonn Reyes made Crab Cakes, and Sheraton Palawan Puerto Princesa’s Rosselle Carias made Caprini Arancini.

The Sheraton Manila’s own Andrea Burzio was not to be outdone with his Bigne al Tartufo with truffle cream puff pastry, aioli, and chives. Sheraton Manila Bay’s Marvin Collamat was in charge of desserts, with Green Tea Mango Sago and Almond Chocolate Rocher.

Meanwhile, Celeste Lecaroz and Larni Castro Policarpio’s artworks went on sale (a portion of the proceeds going to charity), but some lucky audience members won artworks in a raffle, such as an acrylic by National Artist Benedicto “BenCab” Cabrera.

The evening ended with the dinner guests moving to the nearby Newport Performing Arts Theater to catch a performance of the musical Delia D.

Dottie Wurgler, chair of the Marriott Worldwide Business Councils, the charity arm of Marriott International, discussed in a speech the charities that the evening will benefit: Save the Children Philippines, Plastic Bank, and a program that aids in disaster response support for certain affected communities.

Bruce Winton, area general manager Philippines at Marriott International, said in a speech, “We want to make sure that our events like this have the ability to positively impact our communities locally and nationally.”

They have two other fundraisers scheduled for September and October.

In an interview with BusinessWorld, he talked about how much money they raised that evening: “We’ve reached about a million tonight. We just made a donation tonight of P750,000 from previous events.”

“In Marriott, we believe that we need to be completely integrated with our local community. We need to give back, and we need to be good stewards of our neighbors and friends,” he said. — Joseph L. Garcia

Carbon Sync pushes faster shift by providing comprehensive platform for carbon credit projects

CARBON SYNC Chief Executive Officer Wesley Quek

By Sheldeen Joy Talavera, Reporter

SINGAPORE-BASED Carbon Sync Ventures hopes to help grow the carbon credit market in the Philippines by using digital platforms to track, certify, and trade carbon credits, while also supporting the development of local emissions-reduction projects.

“The primary aim… first one was always to improve integrity, transparency, as well as the data availability and the efficiency of the carbon markets and sustainability markets overall,” Carbon Sync Chief Executive Officer Wesley Quek said in an interview with BusinessWorld.

Mr. Quek said the company has worked with Google and other partners to build a digital platform that helps record, verify, and manage carbon credit projects, particularly those involving the protection or restoration of natural ecosystems. Registries are used to issue, monitor, and eventually retire carbon credits.

Carbon Sync is also proposing to directly develop projects in the Philippines, he said, after engaging with local governments in Sorsogon, Bohol, and Mindoro to present community-based initiatives.

One such project involves biochar, a type of charcoal made by heating organic materials in low-oxygen conditions.

The process prevents carbon from being released into the atmosphere and allows the carbon savings to be converted into credits that can be traded.

A carbon credit is a certificate that represents one ton of carbon dioxide that has been avoided or removed from the atmosphere. These credits can be bought by companies or governments to offset their own emissions, often as part of their sustainability targets.

Recently, asset manager Farosson invested in Carbon Sync Ventures and launched Farosson Digital & AI Technologies, a digital platform powered by artificial intelligence to manage carbon credit transactions.

The system includes tools for tracking, verifying, and retiring carbon credits, and uses blockchain technology to secure records.

Mr. Quek said the company sees the Philippines as a launchpad for its expansion in the region due to the country’s growing renewable energy potential and strong digital infrastructure.

Using its platform, developers of environmental projects can upload data and documentation, while buyers can monitor the progress and results of the projects they are supporting.

“If we are going to commercialize or let the carbon credit industry gain widespread adoption, it has to be accessible to the everyday user,” Mr. Quek said.

“If someone isn’t technical on some level or keeping up with the hundreds of methodologies coming out every year, you would not be able to keep up with the terminology, the trends or even the metrics to which you measure some of these projects,” he added.

Mr. Quek said the Philippine government could help support the market’s growth by creating clearer rules to promote transparency and access to data.

DTI launches creative industry directory during food festival

ONE of the stalls from the DTI Food Festival 2025 at SM Megamall’s Megatrade Halls 1–3. The event showcases over 250 regional delicacies nationwide, a vibrant celebration of Filipino culinary heritage, creativity, and entrepreneurship.

WHILE the DTI (Department of Trade and Industry) Food Festival may have ended its May 30 to June 1 run last week at SM Megamall, its impacts will be long-felt. While the DTI gave their booths for free to 250 micro, small and medium enterprises (MSMEs), the department also launched the Malikhaing Pinoy website, which aims to connect members of the creative industries to their potential customers faster.

The fair attracted participation from the National Capital Region, Western Visayas (particularly Iloilo City), and other regions such as Cagayan Valley, Central Luzon, and Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon).

On May 30, at the opening ceremonies at the Megatrade Hall of SM Megamall, DTI Secretary Cristina Aldeguer-Roque said, “This festival highlights the vast potential of our regional flavors and showcases the ingenuity of our local entrepreneurs. It is a powerful testament to how food can be both a cultural expression and economic opportunity. We must support the products of the Philippines. Let’s all have an aggressive approach in really buying Filipino.”

And aggressive we were: we scored tisanes and herbal brews from Brayden’s Food Products (braydensfoodproduct21@gmail.com), featuring herbal teas like turmeric, ginger, and mangosteen from Nueva Vizcaya. We also found novel hot sauce flavors from Dimebag 13 through their brand Pepper ng Ina Mo (instagram.com/PepperNgInaMo), and conveniently bottled and foil-packed tuyo (dried fish, but theirs were preserved in oil) from Pio’s Gourmet Tuyo (instagram.com/piosgourmettuyo). Finally, we found a sugarcane juice stand (open for franchising opportunities) from Unas Naimas (facebook.com/unasnaimasph).

“Our trade shows have already more than doubled, and our sales have really gone up, by 49%,” the trade secretary said in a speech.

WEBSITE
Meanwhile, Ms. Aldeguer-Roque also launched the DTI Malikhaing Pinoy website (malikhaingpinoy.ph). “President Ferdinand R. Marcos’ mandate is to strengthen the creative industry at all costs, both locally and globally.”

The website aims to connect creatives to customers through a networking directory but also create a space for learning and business through e-commerce and master classes. “Over 900 creatives are already on this platform, and we look forward to welcoming more,” she said.

Nylah Bautista, supervising head of the competitiveness and innovation group of the DTI said in an interview that the website currently supports creatives in publishing, music, performing arts, and cultural expressions (among other industries). “Anyone who needs a graphic artist, a designer; they can access that,” said Ms. Bautista. Soon, they will also develop an app.

“The creative industry is booming. That’s the industry that’s contributing about 8% of our GDP (gross domestic product),” she said. — JL Garcia

Term deposit yields extend drop with inflation seen easing further

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

YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) term deposits dropped on Wednesday ahead of the release of May inflation data, which could have eased further from the April level to strengthen the case for another rate cut as early as this month.

The central bank’s term deposit facility (TDF) fetched bids amounting to P169.771 billion on Wednesday, higher than the P140 billion placed on the auction block and the P154.854 billion for the P110-billion offer a week ago. This allowed the BSP to make a full award of both tenors.

Broken down, tenders for the seven-day papers reached P90.668 billion, above the P70 billion auctioned off by the central bank and the P78.28 billion in bids for the P60 billion on offer the previous week. The BSP fully awarded the one-week deposits.

Accepted yields were from 5.05% to 5.5185%, wider than the 5.49% to 5.5255% band seen a week ago. This caused the average rate of the one-week deposits to slip by 0.75 basis point (bp) to 5.5083% from 5.5158% previously.

Meanwhile, bids for the 14-day term deposits amounted to P79.103 billion, also higher than the P70-billion offering and the P76.574 billion in tenders for the P50 billion auctioned off the week prior. The central bank likewise made a full P70-billion award of the two-week tenor.

Banks asked for yields ranging from 5.4% to 5.545%, a tad wider than the 5.5% to 5.545% margin seen a week ago. With this, the average rate for the two-week deposits fell by 1.26 bps to 5.5173% from 5.5299% logged in the prior auction.

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

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

The central bank said it made a full award of the TDF offer as the auction was met with “good demand,” with both tenors going oversubscribed.

Term deposit yields went down on expectations of slower May inflation, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

A BusinessWorld poll of 17 analysts conducted last week yielded a median estimate of 1.3% for the May consumer price index (CPI), slower than the 1.4% in April and 3.9% in the same month a year ago. This is also within the central bank’s 0.9%-1.7% forecast for the month. 

If realized, this would be the lowest clip in more than five years or since the 1.2% in November 2019.

The Philippine Statistics Authority is scheduled to release May inflation data on Thursday (June 5).

The slower inflation print would justify another BSP rate cut this month, Mr. Ricafort said.

BSP Governor Eli M. Remolona, Jr. earlier said cooling inflation has given them “plenty of room” to continue their easing cycle.

He said they could deliver two more rate cuts this year in “baby steps” of 25 bps.

A rate cut is also on the table at the Monetary Board’s next rate-setting meeting on June 19, he added.

The central bank slashed benchmark borrowing costs by 25 bps in April, bringing the policy rate to 5.5%.

It has now cut interest rates by 100 bps since it kicked off its easing cycle in August last year. — Luisa Maria Jacinta C. Jocson

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