business – Page 12 – Author Carlo Carrasco

PLDT Moving Headquarters to Filinvest City

July 5, 2025October 22, 2025carlocarrasco

In relation to the Filinvest Group’s strong confidence with its Alabang central business district (CBD), it has been revealed that telecommunication giant PLDT will relocate its headquarters to the Southgate District of Filinvest City in Alabang, according to a Manila Bulletin news report.

For the newcomers reading this, Filinvest City is located within the Alabang area of Muntinlupa, and it is connected with both the South Luzon Expressway (SLEX) and the Metro Manila Skyway (which itself is connected to the NAIA Expressway and the North Luzon Expressway) which makes travel connectivity convenient. PLDT itself has its current headquarters in Makati City which has lasted for decades. This new development with Filinvest City adds potential business value to Alabang. It should be noted that Filinvest City also has its own local residents.

To put things in perspective, posted below is the excerpt from the news report of Manila Bulletin. Some parts in boldface…

Filinvest City, the premier township developed by the Filinvest Group, is poised for a transformation with the announcement that PLDT Inc., the nation’s largest integrated telecommunications company, will relocate its headquarters to the Southgate District of Filinvest City.

This strategic move, which involves the development of the country’s first tech campus, signals a game-changing moment for the Garden City, paving the way for a smarter, greener, and more connected urban landscape in Metro South.

The decision to move was revealed in a press statement from Filinvest City, noting that PLDT’s choice of Filinvest City followed years of careful study and strategic planning.

The planned five-hectare PLDT campus, envisioned as the future headquarters for the telecommunications group, is slated for progressive development, with initial phases expected to commence soon.

The project draws inspiration from leading global tech campuses and reflects PLDT’s long-term commitment to fostering an innovative and future-ready workplace.

This campus is part of our effort to build a healthier, more collaborative work environment, said PLDT Chairman and CEO Manuel V Pangilinan. He added that it reflects our belief that the workplace must evolve alongside the industries we serve. We hope it will inspire creativity, encourage teamwork, and support the future of PLDT.

The tech campus is designed not only as a headquarters but also as a hub for innovation, collaboration, and digital transformation, aiming to consolidate talent and technology to cultivate a culture of agility and forward-thinking.

This aligns with PLDT’s dedication to shaping the future of connectivity in the Philippines. The development is projected to create thousands of jobs during both construction and operational phases, boosting demand for residential and commercial spaces and supporting local businesses and startups.

It is also expected to attract professionals and innovators to Metro South, reinforcing Filinvest City’s role as a nexus for future-forward enterprises.

Josephine Gotianun-Yap, Vice Chairperson, Filinvest Development Corporation, noted the transformation of Filinvest City from a quiet stock farm into a vibrant garden metropolis, stating that this was achieved through vision, dedication, and a steadfast sense of purpose. She also said, Filinvest City was designed with intention: to foster an environment where businesses thrive, innovation flourishes, and people live well. We believe a great city is not simply a backdrop to success—but a catalyst for it.” She further added that Filinvest remains committed to continued growth and meaningful collaboration, especially with PLDT, as it pursues its mission to empower Filipinos through meaningful connections, digital inclusion, and sustainable progress.

This landmark project reinforces Filinvest City’s commitment to sustainable and integrated urban planning. As the country’s only central business district holding both LEED Gold and BERDE certifications, Filinvest City is recognized for its green building standards and environmentally responsible design. The city’s master plan embraces the live-work-play philosophy, ensuring a holistic urban experience for its residents, workers, and visitors.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think PLDT’s upcoming headquarters in Alabang will create many new jobs and add value to Filinvest City as business and investment destination? Do you think this new development will influence other major corporations to consider establishing new headquarters in Alabang? Do you consider Muntinlupa City a more competitive highly urbanized city (HUC) in relation with PLDT’s upcoming Alabang headquarters?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Philippines Lowers Economic Growth Target Amid Global Uncertainty

July 2, 2025June 27, 2025carlocarrasco

As there are more signs of weakness and uncertainty, the economic managers of the Philippines officially lowered their economic growth target this year, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Economic managers on Thursday revised the economic growth target for this year amid mounting global uncertainties.

At a briefing after the 191st Development Budget Coordination Committee (DBCC) meeting, Budget Secretary and DBCC Chair Amenah Pangandaman said the economic growth assumption for 2025 was revised downward to 5.5 to 6.5 percent from the previous 6 to 8 percent.

For 2026 to 2028, the Philippine economy is projected to expand by 6 to 7 percent, reflecting a more cautious and resilient economic outlook amid global headwinds.

“The revisions take into account heightened global uncertainties, such as the unforeseen escalation of tensions in the Middle East and the imposition of U.S. tariffs,” Pangandaman said.

She said that despite these challenges, the DBCC remains “vigilant and ready to deploy timely and targeted measures” to mitigate their potential impact on the Philippine economy.

The budget chief said the country continues to be one of the fastest-growing economies in ASEAN driven by robust domestic demand.

To maintain this momentum, she highlighted the administration’s focus on structural reforms, including the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act and the Public-Private Partnership (PPP) Code, both designed to enhance the country’s trade and investment competitiveness.

Pangandaman said the government will also pursue the approval and implementation of other reforms recently ratified by Congress, such as the Liberalizing the Lease of Private Lands by Foreign Investors Act, Enhanced Fiscal Regime for Large-Scale Metallic Mining Act, Accelerated and Reformed Right-of-Way (ARROW) Act, and Konektadong Pinoy Act.

The DBCC also revisited the medium-term macroeconomic assumptions to take into consideration recent global and domestic developments.

The inflation assumption for this year was cut to 2 to 3 percent from the previous 2 to 4 percent. For 2026 to 2028, the inflation assumption was retained at 2 to 4 percent.

For 2025 to 2028, crude oil price assumptions were reduced to USD60 to USD70 per barrel from USD60 to 80 per barrel, despite escalating geopolitical tensions.

The foreign exchange rate is assumed to remain stable, averaging at PHP56 to PHP58 per US dollar from 2025 through 2028, supported by lower domestic inflation.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines is lacking momentum to achieve 6% growth this year? Do you think that inflation and unemployment will eventually rise before the year ends? Are you convinced that foreign investors are staying away from the Philippines?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

BSP Calls for Anti-Counterfeiting Campaigns in Malls, Supermarkets and Wet Markets

July 1, 2025June 26, 2025carlocarrasco

Counterfeiting of money is a hot issue right now in the Philippines as the Bangko Sentral ng Pilipinas (BSP) called for targeted anti-counterfeiting campaigns in specific places of trade and commerce, according to a business news report by the Manila Bulletin.

To put things in perspective, posted below is an excerpt from the Manila Bulletin report. Some parts in boldface…

The Bangko Sentral ng Pilipinas (BSP) is calling for targeted anti-counterfeiting campaigns in shopping malls, supermarkets, and wet markets after these locations emerged as the main sources of fake banknotes and coins recovered last year.

Data from the 2024 BSP annual report published in June showed that counterfeits were “frequently recovered in areas with high foot traffic, such as shopping malls (27.2 percent), supermarkets (25.9 percent), and wet markets (20.9 percent).”

“This highlights the need for targeted anti-counterfeiting campaigns in these areas,” the report said.

According to the central bank report, the ₱1,000 paper banknote was the most counterfeited bill, accounting for 59.9 percent or the majority of documented counterfeits last year. The ₱500 paper banknote was the second-most counterfeited bill at 19.3 percent.

Notably, there were a very low number of cases of counterfeit ₱1,000 polymer banknotes. Recording only three “low-quality” counterfeits in 2024, the BSP noted that the three-year-old ₱1,000 polymer banknote has shown “resilience” against counterfeiting.

“These counterfeit polymer banknotes were printed on paper, with the transparent portions cut out and substituted with substandard plastic, making them easily detectable by the public,” the BSP said.

Fake coins also dropped significantly by 87.8 percent last year, noting that there were fewer than one fake coin for every one million real coins in circulation. Most counterfeit coins were leftovers from previous years, mostly five-peso coins from the BSP coin series.

The BSP attributed this substantial decline in counterfeited banknotes and coins to the “enhanced security features of the New Generation Currency (NGC), including the micro-printed details and laser-engraved designs.”

These added features made it more challenging for fraudsters to copy and reproduce the currencies, the BSP said.

Most counterfeiting involved inkjet printing, accounting for 79.7 percent of the recorded cases. Laser printing was next at 12.6 percent, while tampered security threads accounted for 7.6 percent.

When it comes to location, most fake currencies were found in Metro Manila, at 52.2 percent, followed by the provinces of Cavite, Laguna, Batangas, Rizal, and Quezon (collectively known as CALABARZON), at 12.2 percent.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think counterfeiting in the Philippines will get worse over the next twelve months? Do you think the local supermarket, wet market or shopping mall are hot spots of fake banknotes and coins? Who do you think is responsible for the rise of counterfeit money? Do you think the BSP’s research about counterfeiting is accurate?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Filinvest Group still optimistic with Alabang central business district

June 29, 2025October 22, 2025carlocarrasco

Even though there are emerging rivals that each have distinctive attractions for businesses and residents, the Filinvest group remains confident and optimistic with its 244-hectare Filinvest City in Alabang, Muntinlupa, according to a business article by BusinessWorld. This is about the current state of corporate cities or central business districts (CBDs) which are contributing a lot to the economy of the Philippines in terms of financial value, jobs, properties and new residential communities.

For the newcomers reading this, Filinvest City is located within the Alabang area of Muntinlupa City, and it is connected with both the South Luzon Expressway (SLEX) and the Metro Manila Skyway (which itself is connected to the NAIA Expressway and the North Luzon Expressway) which makes travel connectivity convenient.

To put things in perspective, posted below is the excerpt from the business article of BusinessWorld. Some parts in boldface…

THE FILINVEST group is banking on unsold inventory and infrastructure readiness at its 244-hectare Filinvest City in Alabang, Muntinlupa to support growth in its township portfolio, as new large-scale developments emerge in Metro Manila and nearby provinces.

Catherine A. Ilagan, president and chief executive officer of Filinvest Alabang, Inc. (FAI), said Filinvest City continues to attract interest from businesses and residents, even as estates such as the 3,500-hectare Villar City, the 700-hectare Vermosa in Cavite, and the 74-hectare Arca South in Taguig expand their footprints.

“We’re the most developed. We have the essentials to back it up. We have the infrastructure and all of the utilities. All of that are already in place. Accessibility is also key. We also have access to talent,” Ms. Ilagan said in an interview with BusinessWorld.

“It takes a long time to develop into a real central business district (CBD),” she added.

FAI is the real estate arm of the Filinvest group, overseeing townships and high-end residential developments.

“In terms of densifying, there’s still a lot of potential for Filinvest City. The outlook for Filinvest City is really positive,” Ms. Ilagan said.

“The release of inventory is very deliberate,” she added.

According to a regulatory filing by the Filinvest group’s listed conglomerate, Filinvest Development Corp. (FDC), FAI beneficially owns 76.4 hectares of unsold lots in Filinvest City as of end-2024, indicating further growth capacity.

Launched in 1995, Filinvest City is a mixed-use township that integrates a CBD, residential communities, leisure destinations, educational institutions, and medical and wellness centers.

It is the country’s only CBD to hold both Leadership in Energy and Environmental Design (LEED) and Building for Ecologically Responsive Design Excellence (BERDE) certifications.

“The LEED and BERDE certifications are testaments to Filinvest City being a green development,” Ms. Ilagan said.

Filinvest City’s sustainability features include a district cooling system that reduces energy use and emissions by servicing multiple buildings, an integrated electric-powered transport system known as the 360 Eco-Loop, and dedicated green spaces and sustainable buildings in Northgate Cyberzone.

Under Ms. Ilagan’s leadership, FAI is replicating the Filinvest City model in other areas as it grows its portfolio of master-planned, sustainable townships and premium real estate developments under the Filigree brand.

Ms. Ilagan brings more than 30 years of experience in real estate and urban development.

“Filinvest City is a ten-minute city. Everything can be reached in ten minutes. This is the DNA that we want to replicate in the other townships,” Ms. Ilagan said.

“We’ve always subscribed to the idea of a balanced live-work-play. That’s the DNA of all of our townships, a well-rounded and balanced development,” she added.

Other FAI-led townships include the 58-hectare City di Mare in Cebu, the 201-hectare Filinvest Mimosa Plus in Clark, Pampanga, the 288-hectare Filinvest New Clark City in Tarlac, and the 677-hectare Timberland Heights in Rizal.

“Whether it’s a small development, a bigger development, a high development, or a denser development, there should always be that balance of live-work-play components. As a real estate developer, that is the sustainable way to do things. Now, we want everything to be walkable,” Ms. Ilagan said.

Let me end this post by asking you readers: What is your reaction to this recent development? What do you think that Villar City, Arca South and Vermosa don’t have when compared with Filinvest City? If you are developing properties, do you find Filinvest City advantageous and attractive for your business needs?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

10 More Medicines Now VAT-Exempt in the Philippines

June 28, 2025June 23, 2025carlocarrasco

Some good news for Filipinos struggling with buy medicine for their respective health-related needs. The Bureau of Internal Revenue (BIR) officially announced that ten more medicines are exempted from the value-added tax (VAT), according to a news article by the Philippine News Agency (PNA).

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

The Bureau of Internal Revenue (BIR) said 10 more medicines for cancer, high cholesterol, hypertension, and mental illness are now exempted from value-added tax (VAT).

In a statement on Monday, the BIR said Commissioner Romeo Lumagui Jr. issued Revenue Memorandum Circular No. 62-2025 on June 20 further expanding the list of VAT-exempt medicines.

The BIR said these changes aim to enhance access to critical medications by reducing treatment costs for patients and their families.

Some medicines on the list are Tegafur + Gimeracil + Oteracil Potassium for cancer, Metformin Hydrochloride + Teneligliptin for diabetes, Atorvastatin (as calcium) + Fenobribrate for high cholesterol, Metoprolol tartrate + Ivabradine (as hydrochloride) for hypertension, and Lamotrigine for mental illness.

The VAT exemption, pursuant to Republic Act No. 10963, or the Tax Reform for Acceleration and Inclusion (TRAIN) Law, and Republic Act No. 11534, or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, is intended to be responsive and adaptive to current public health needs, guided by the latest evaluations from the Food and Drug Administration.

“The BIR has issued an additional VAT-exemption of 10 medicines for cancer, diabetes, high cholesterol, hypertension, and mental illness,” Lumagui said.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are on medication, does this new development from the BIR look helpful to you?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Tourism registers 8.9% share of 2024 Philippine gross domestic product

June 23, 2025June 20, 2025carlocarrasco

The tourism of the industry of the Philippines accounted for a share of 8.9% of the nation’s gross domestic product (GDP) for the year 2024, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

THE SHARE of the tourism industry in the Philippine economy rose to a five-year high of 8.9% in 2024, the Philippine Statistics Authority (PSA) said on Thursday.

Tourism direct gross value added (TDGVA) — an indicator of the economic contribution from tourism-related activities — jumped by 11.2% year on year to P2.35 trillion last year, preliminary data from the PSA showed.

However, TDGVA growth was slower than the 49.9% surge logged in 2023 and the slowest annual growth since the 10.3% expansion in 2020.

Despite the slower growth, the share of TDGVA to the economy rose to 8.9% in 2024, the highest share since the 12.9% recorded in 2019.

By industry, country-specific tourism characteristics goods – shopping accounted for 21.8% of the total with P512.68 billion. It was followed by miscellaneous services (20.2% share or P476.23 billion) and accommodation services for visitors (18.4% share or P432.9 billion).

Domestic tourism expenditure, which includes resident visitors’ spending within the country on a domestic trip or as part of an international trip, grew by 16.4% to P3.16 trillion last year.

Outbound tourism spending reached P345.68 billion in 2024, rising by 37.5% from P251.35 billion in 2023.

Inbound tourism expenditure, meanwhile, inched up by 0.4% annually to P699.99 billion. Total employment in the tourism sector grew by 6.1% to 6.75 million in 2024. Tourism accounted for 13.8% of the total jobs in the country in 2024.

The majority of the tourism-related jobs were centered on miscellaneous activities. The health and wellness sector employed 1.83 million, accounting for a 27.1% share.

The accommodation and food and beverage sector had 1.69 million workers (25% share), while passenger transport had 1.67 million workers (24.7%).

Reinielle Matt M. Erece, an economist at Oikonomiya Advisory and Research, Inc. said easing inflation helped boost tourism spending last year.

“Lower inflation relative to 2023 and better economic conditions in the country may have encouraged tourists due to better prices,” he said in an e-mail. Inflation averaged 3.2% in 2024, cooling from the 15-year high of 6% in 2023.

Last year, the Department of Tourism recorded 5.95 million visitor arrivals, falling short of its 7.7 million target.

“While Philippine tourism has made substantial progress — particularly in revenue generation — it hasn’t achieved full recovery in terms of visitor numbers, and the pace of recovery appears to be slowing in early 2025,” Leonardo A. Lanzona, Jr., an economics professor in Ateneo de Manila University, said in an e-mail.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think Philippine tourism will end up being weaker as an economic sector this year? Do you think the weakening Philippine Peso will convince foreigners to visit the Philippines very soon?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Philippines inflation rate settles at 1.3% in May 2025, the lowest since November 2019

June 10, 2025June 5, 2025carlocarrasco

Once again, inflation in the Philippines went down as the Philippine Statistics Authority (PSA) recently confirmed that the headline inflation landed at 1.3% for the month of May 2025, according to a news article by Philippine News Agency (PNA). The said inflation result is the lowest since November of 2019.

To put things in perspective, posted below is an excerpt from the news article of PNA. Some parts in boldface…

Headline inflation further slowed to 1.3 percent in May this year from 1.4 percent in April, the lowest recorded since the 1.2 percent in November 2019, the Philippine Statistics Authority (PSA) said Thursday.

In a briefing, National Statistician Dennis Mapa said this brought the year-to-date average inflation to 1.9 percent which is at the lower end of the government’s 2 to 4 percent target range.

Mapa said the downtrend was primarily brought about by the slower increase in the index of housing, water, electricity, gas, and other fuels at 2.3 percent from 2.9 percent in April. Restaurant and accommodation services also recorded a slower inflation of 2 percent from 2.3 percent in April.

Mapa said the faster annual decline was likewise recorded in the transport index, at 2.4 percent in May from 2.1 percent in the previous month. Food inflation meanwhile remained at 0.7 percent. Mapa, however, said rice inflation was at -12.8 percent from -10.9 percent in April.

According to Mapa, the rollout of the PHP20 per kilogram rice program in line with the directives of President Ferdinand R. Marcos Jr., the “Benteng Bigas Meron Na” helped lower rice prices.

In May, the average price of regular milled rice declined to PHP43.19 per kg from PHP51.11 in May 2024. The average price of well-milled rice likewise fell to PHP49.45 per kg from PHP56.06 per kg while special rice also declined to PHP59.80 from last year’s PHP64.41 per kg.

The bottom 30 percent income households experienced zero percent inflation in May 2025, a sharp decline from 5.3 percent in the same month last year.

The National Capital Region also posted a slower inflation rate of 1.7 percent in May, down from 2.4 percent the previous month while other regions maintained a low average inflation rate of 1.2 percent.

More stable cost of living – In a separate statement, the Department of Economy, Planning, and Development (DEPDev) said the continued decline in the country’s headline inflation shows progress toward easing price pressures and achieving a more stable cost of living for Filipinos.

“We are encouraged by this development. It reflects the success of our sustained efforts to protect the purchasing power of Filipinos and ensure a more affordable cost of living,” said DEPDev officer in charge and Undersecretary for Policy and Planning Rosemarie Edillon.

To sustain this downward trend, DEPDev said the Marcos administration is committed to implementing targeted policies aimed at mitigating inflationary pressures and safeguarding the purchasing power of Filipino families.

The Food and Drug Administration (FDA) and the Department of Agriculture (DA) are strengthening their collaboration to ensure the availability of safe and effective animal vaccines amid ongoing African Swine Fever (ASF) and Avian influenza outbreaks.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think it is possible for Philippines inflation to fall below 1% by the end of the year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Philippines manufacturing activity slowed down in May 2025

June 7, 2025June 3, 2025carlocarrasco

In what could be a possible sign of economic slowdown in the Philippines, manufacturing activity for the month of May this year slowed down as demand from foreign markets weakened, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

GROWTH in Philippine manufacturing activity slowed in May due to declining output and weaker demand from foreign markets amid global trade tensions.

The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI), which measures the country’s monthly factory performance, settled at 50.1, slipping from 53 in April. This was the lowest index since the 49.4 contraction in March.

A PMI reading above 50 denotes better operating conditions month on month, while a reading below 50 shows the opposite.

“The promising growth observed at the beginning of the second quarter signaled a notable cooling in May,” Maryam Baluch, an economist at S&P Global Market Intelligence, said in a report on Monday. “While new orders continued to increase, they did so at a slower pace, overshadowed by contractions in other areas.”

S&P Global data on the Association of Southeast Asian Nations (ASEAN) showed that only the Philippines expanded in May, while Vietnam (49.8), Myanmar (47.6) and Indonesia (47.4) all declined.

In its report, S&P Global said output declined in May, the second contraction in the past three months.

“Overall, the downturn was marginal, but companies noted softer demand conditions weighed on production,” it said.

Despite continuing to signal a rise in new sales, the rate of expansion in new orders was slight and weaker than in April, it added. This was reflected in the softer rate of increase in input buying activity.

“The situation was further exacerbated by a deteriorating demand from foreign markets, with May witnessing a sharper drop in new export orders,” Ms. Baluch said. “As global trade tensions escalate, the outlook for overseas demand appears increasingly precarious,” US President Donald J. Trump paused his reciprocal tariffs in April for 90 days but continues to apply a 10% baseline tariff rate for most trading partners.

Ms. Baluch said the drop in production requirements was accompanied by a fresh decline in employment and the inventories of both purchases and finished goods.

S&P said employment numbers declined for the first time in four months.

The pace of job shedding was marginal, but the strongest in 11 months, which factories attributed to voluntary resignations and the nonreplacement of those roles.

S&P also cited the limited manpower for a renewed buildup of backlogs across Filipino producers.

“On a brighter note, inflationary pressures remain modest and historically subdued, which could play an important role in supporting demand moving forward,” she said.

However, cost burdens and output charges rose to the highest since January.

“The stability of price pressures may also provide a necessary buffer against the challenges posed by a cooldown in new orders and external market uncertainties,” she added.

S&P Global said manufacturers expect new orders to continue to rise, supported by confidence in the year-ahead outlook for production, but the degree of optimism was the third weakest in the series’ history.

Analysts also said trade tensions and softer demand weighing down the country’s manufacturing activity in May.

The anticipation for higher tariffs likely caused subdued exports, said Reinielle Matt M. Erece, an economist at Oikonomia Advisory and Research, Inc.

“The persistent trade tensions continue to weigh on global trade, causing exports to drop as higher tariffs may be imposed,” he said in a Viber message.

Philippine exports in the first four months rose 9.5% to $26.87 billion, according to the local statistics agency.

Mr. Erece said domestic demand slowed as the election-spending season ended. Stronger manufacturing activity is expected later this year, as local authorities continue trade talks with the US Trade Representative, he added.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines’ manufacturing sector will rebound this month?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

New rules streamlining VAT refund processes will make Philippines more attractive to foreign investors

June 6, 2025June 3, 2025carlocarrasco

In the view of the Bureau of Internal Revenue (BIR), the Philippines will become a more attractive destination for foreign investors due to the new rules streamlining the value-added tax (VAT) refund process, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the news article of the PNA. Some parts in boldface…

The Bureau of Internal Revenue (BIR) expects the new rules streamlining the value-added tax (VAT) refund process — a key reform under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act – will make the Philippines a more attractive destination for foreign investors.

In a televised interview, BIR Commissioner Romeo Lumagui Jr. said the new regulations are consistent with President Ferdinand Marcos Jr.’s broader goal of making the country more business-friendly.

“Ang expectation natin, makikita ng mga dayuhang investors na seryoso ang pamahalaan na pagbutihin ang pagnenegosyo at papadaliin ang pagnenegosyo dito sa ating bayan (Our expectation is that foreign investors will see that the government is serious on business and in easing the doing of business in our country),” Lumagui was quoted as saying in a news release on Saturday.

“So, we’re hoping that it will encourage foreign investors to do business here in the Philippines,” he added.

According to the BIR chief, the main objective of CREATE MORE, as well as other BIR efforts, is to ease the doing of business and payment of taxes.

Republic Act No. 12066 or the CREATE MORE Act amended the National Internal Revenue Code to provide greater tax relief and incentives for businesses, particularly exporters.

To implement this, the BIR issued Revenue Memorandum Circular No. 37-2025 on April 10, which reduces the documentary requirements for VAT refund claims.

Under the new guidelines, certified true copies of invoices or receipts may now be submitted in place of original documents.

There was also a reduction of three documentary requirements, particularly the proofs of registration with the Securities and Exchange Commission or Department of Trade and Industry (DTI), whichever is applicable, and the copies of Import Entry and Internal Revenue Declarations/Informal Import Declaration and Entry or Single Administrative Document.

For claims involving amortized input VAT on capital goods, prior certifications from the Bureau of Customs may be reused if already submitted in past filings.

Furthermore, for VAT refund claims starting April 1, exporters are no longer required to submit actual proof of shipment, such as bills of lading.

Instead, the BIR will rely on a certification from the Export Marketing Bureau of the DTI, following a newly signed agreement between the two agencies.

“Ngayon pinadali natin ang proseso sa pakikipag-coordinate sa DTI. So, may kanya-kanyang role ang bawat isa para hindi na rin magdoble-doble ang mga requirements at pag-iimbestiga kung talagang merong mga inexport ang isang entity (We made the process easier through our coordination with the DTI. Each agency now has specific roles to prevent duplication in the submission of requirements and in investigating the goods exported by a business entity,” Lumagui explained.

“Patuloy din ang pag-e-examine natin kung ano ang pwede nating i-streamline na mga proseso para mas mapadali pa ang pagnenegosyo sa ating bayan (We also continue to examine what other processes we can streamline to make doing of business in our country easier),” he added.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you convinced that the changes made will help the Philippines attract more foreign investors?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

SEC approves P6.26 billion deal between Filinvest Land and FILRT, Festival Mall ownership included in deal

June 5, 2025May 30, 2025carlocarrasco

Following the huge deal between Filinvest Land. Inc. (FLI) and Filinvest REIT Corporation (FILRT) and the deed of exchange signed by the two corporations over the ownership of Festival Mall, the Securities and Exchange Commission (SEC) officially approved the P6.26 billion deal putting it closer to completion, according to a Manila Bulletin business news report.

To put things in perspective, posted below is the excerpt from the news report of Manila Bulletin. Some parts in boldface…

The Securities and Exchange Commission has approved the valuation of the ₱6.26 billion property of Filinvest Land Inc. to be acquired by Filinvest REIT Corporation (FILRT) via an asset-for-share swap, putting it a step closer to completion.

In a disclosure to the Philippine Stock Exchange, FILRT said it has received from the SEC the Certificate of Approval of Valuation for its property-for-share swap with FLI under which LI will transfer its ownership over the Festival Mall – Main Mall, consisting of a building and certain machinery and equipment in favor of FILRT.

Festival Mall-Main Mall which is located in Filinvest City, Alabang, Muntinlupa City, consists of a building with gross leasable area of 121,862 square meters.

In return, FILRT will issue to FLI 1.63 billion primary common FILRT shares at an issue price of ₱3.85 per share under the Memorandum of Agreement and the Deed of Exchange both dated March 5, 2025.

The Transaction Price was set at a 30 percent premium over FILRT’s 30-day volume-weighted average price of ₱2.94 per share, which is within the range of fair values provided for in FTI Consulting Philippines, Inc.’s Fairness Opinion.

FILRT’s Related-Party Transaction Committee and Board of Directors unanimously approved the Transaction at their special meeting on January 24, 2025, and it was subsequently approved by FILRT’s stockholders during their special meeting on March 4, 2025.

The acquisition of the Property will increase FILRT’s total gross leasable area by 37 percent to 452,310 sq.m. This likewise will improve occupancy from 83 percent to 88 percent and extend the weighted average lease expiry (WALE) from 7.3 to 14.6 years. This will also increase FLI’s equity in FILRT from 51.06 percent to 63.27 percent.

The Transaction allows FILRT to diversify its income sources by integrating retail mall properties into its portfolio. Prior to the infusion, 91 percent of the GLA of FILRT are office buildings.

Post infusion, the portfolio mix of FILRT will be 67 percent offices, six percent hospitality (Crimson Boracay lot) and 27 percent retail (Festival Main Mall).

The infusion of income-generating retail mall assets is expected to result in an increase in FILRT’s distributable income.

Let me end this post by asking you readers: What is your reaction to this recent development? With the approval of the SEC, do you think the big deal between FLI and FILRT will be beneficial not only for the parties and shareholders involved, but also for those who spend time and money at Festival Mall? Did you notice any trends or serious changes at Festival Mall since FILRT became the new owner?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

	Instapundit »… on Trump’s America Urges Allies T…
	The H.A.R.D. Corps (… on A Look Back At The H.A.R.D. Co…
	Instapundit »… on A Lot More American Fruits And…
	Instapundit »… on Varied And Impactful Changes R…
	Instapundit »… on Japan And Italy Agree On Strat…

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this: