Tag: commerce

Philippines Seeking US Tariff Exemptions For Agricultural Commodities, Electronics and More

Philippines Seeking US Tariff Exemptions For Agricultural Commodities, Electronics and More

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Remember the big meeting between United States President Donald Trump and Philippine President Ferdinand “Bongbong” Marcos, Jr., over a month ago? A 19% tariff by America on Philippine goods was set and now the government of the Philippines is seeking exemptions specifically for exports of agricultural commodities, electronics, vehicle tires, bags and aircraft parts, 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 PHILIPPINES is asking the US to exempt exports of agricultural products and other goods from the 19% tariff imposed by US President Donald J. Trump, a Trade official said on Thursday.

Trade Undersecretary Allan B. Gepty said the government is seeking US tariff exemptions for exports of agricultural commodities, electronics, vehicle tires, bags and aircraft parts.

“We submitted a list of products we asked the US to exempt from the imposed tariff rates, because these are key and complementary items. And some of them, in fact, are not even produced or manufactured there (in the US),” he told senators at a Senate briefing on the tariff set by Washington on Philippine exports.

“The immediate need right now is we want to negotiate for an exemption, because we want to protect our industries whose main export market is the US,” he added.

The US began imposing a 19% tariff on Philippine goods starting Aug. 7.

“We already submitted to the US the products that should be exempted from the reciprocal tariffs,” he said.

Mr. Gepty said about 23% of the country’s total exports to the US are exempted from the 19% tariff.

In June, the United States was the top destination for Philippine-made goods amounting to $1.22 billion, 35.2% higher from the same month a year ago. Around 53% of the Philippines’ total exports to the US were semiconductors and electronics, Mr. Gepty said.

The US has yet to set new global tariffs for semiconductors and pharmaceuticals. Mr. Trump had earlier said he plans to announce higher tariffs on imports of semiconductors, but companies that plan to build manufacturing facilities in the US would be exempted.

“Ninety-nine percent of our semiconductors as of now are still exempted, there’s still no problem” he said. “If the 100% continues, that’s a big problem,” he added.

Mr. Gepty said most of the semiconductors are made by US companies in the Philippines and exported to the US. He noted the higher tariffs would pose problems for the US supply chain, particularly for its defense industry.

Meanwhile, the Philippines has not formally granted zero tariffs on US products, as negotiations over a reciprocal trade agreement remain ongoing, he said.

Let me end this post by asking you readers: What is your reaction to the recent developments? Do you think the Philippines will succeed in getting an exemption from the Trump tariff on key exports?

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

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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 athttps://www.instagram.com/authorcarlocarrasco

Philippines Business Process Outsourcing (BPO) Sector and Government React To Keep Call Centers in America Act of 2025

Philippines Business Process Outsourcing (BPO) Sector and Government React To Keep Call Centers in America Act of 2025

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It is not surprising that both the Business Process Outsourcing (BPO) sector of the Philippines and the Department of Trade & Industry (DTI) reacted to the filing of the Keep Call Centers in America Act of 2025 which was filed in the United States Senate, as reported separately by BusinessWorld, BusinessMirror and the Philippine News Agency (PNA).

For the newcomers reading this, the Philippines BPO sector (sometimes referred to simply as the call center industry even though many local firms have gone beyond taking calls) is now a major part of the national economy with more than 1.7 million Filipinos employed, $35 billion in annual export revenues and the United States of America (USA) alone is the single largest market with 2024 export revenues reported at $25 billion (reported by BusinessMirror).

In the Filipino perspective, call centers are very important because they offer a lot of high-paying jobs for Filipinos who badly need employment. The so-called call center effect on local society and economics includes new stores and food vendors opening up nearby, the opening of new convenience stores operating 24/7, the established restaurants nearby serving customers around-the-clock, and the opening of new branches of banks. Of course, the income Filipinos earned from their BPO jobs enabled them to acquire new things, pay their bills, subscribed to digital services, and move into better residences while helping their families make ends meet.

Having been a call center agent myself a very long time ago, I have witnessed such socio-economic developments happen whenever a call center is present and I was in Cebu province.

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

Diversification will help cushion the possible impact of the proposed “Keep Call Centers in America Act,” aimed to protect local jobs by removing federal grants to companies that have call centers outside the United States.

The business process outsourcing (BPO) industry contributes a big part to the Philippine economy, with employment of around 1.4 million in 2024 and revenues of about USD38 billion. Around 70 percent of clients are based in the US.

Department of Trade and Industry (DTI) Secretary Cristina Roque said there are no discussions yet with officials of the Information Technology and Business Process Association of the Philippines (IBPAP) but expressed openness to talk about possible measures to help the sector.

“But for us, (the) DTI, of course, we’ll continue to help the IT-BPO (and) IBPAP businesses in whatever they need from us. Of course, we’ll assist the same way we’ve assisted in the past,” she said.

“We can’t just look at the US as the only market. The world is the market. If you look at their population as compared to the world, it will show you that we should really find other avenues to explore.”

Next, the Information Technology and Business Process Association of the Philippines (IBPAP) confirmed it is still evaluating the potential impact of the Keep Call Centers in America Act of 2025. For insight, posted below is an excerpt from the BusinessWorld report. Some parts in boldface…

THE IT & Business Process Association of the Philippines (IBPAP) said it is still evaluating the potential impact of the proposed Keep Call Centers in America act.

“It talks about US call centers so I really do not know who that will affect with the way that it is worded,” IBPAP President and Chief Executive Officer Jonathan R. Madrid said on the sidelines of an ECCP AI Forum.

“We need to understand it a little bit more. I think I know what their intention is. But I don’t know the likelihood of this passing. Obviously it is something we are monitoring, and with the way that it is worded, we need to study it more,” he added.

Introduced in the US Senate last month, the bill aims to impose restrictions on US firms outsourcing their call center operations.

In particular, the bill, if signed into law, will render employers outsource call center work overseas ineligible for new federal grants or guaranteed loans.

“I am speaking to the American Chamber of Commerce; we are discussing it and we will see. But we are all aligned on how we will manage this,” he said.

“While the bill is still in the early stages of the legislative process, we remain committed to keeping our stakeholders informed, providing timely guidance, and ensuring that the Philippine IT-BPM industry is well-positioned to adapt and thrive in a changing regulatory environment,” he said.

Philippine Institute for Development Studies Senior Research Fellow John Paolo R. Rivera said that the proposed bill poses a “clear risk to the Philippine IT-BPM industry, especially in the call center segment.”

“By restricting access to US federal grants, contracts, and loans for companies that offshore customer service jobs or do not properly disclose them, the bill raises the regulatory and reputational costs for offshore operations,” he said via Viber .

He said the Philippine industry has been evolving beyond voice-based call centers, which are less exposed to call center-specific legislation.

“We now see strong growth in high-value services such as finance, healthcare information management, legal process outsourcing, software development, and data analytics,” he said.

With the US Senate’s proposal to bring back call centers to the US, he said that the Philippines must continue to move up the value chain to reduce exposure to such policies.

“While the bill underscores vulnerabilities in our call center export model, it also reinforces the importance of accelerating investment in high-value, tech-enabled services where the Philippines can maintain global competitiveness,” he added.

Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said the bill could be “a potential drag on future growth of the industry.”

For this year, the IT-BPM industry is expected to generate $40 billion in export revenue and increase its workforce to 1.9 million.

To examine the details of the Keep Call Centers in America Act of 2025, click here and here.

Let me end this post by asking you readers: What is your reaction to the recent developments? Do you think the IT-BPM sector of the Philippines has what it takes to protect itself from whatever effects the Keep Call Centers in America Act of 2025 could create if ever it gets signed into law? Do you personally know anyone who is working in a BPO firm or a call center here in the Philippines? What kind of assistance do you think the national government will offer to the IT-BPM sector? Do you think the existing call centers should search for English-speaking clients in England, Ireland, Scotland, Israel and the like?

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

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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 athttps://www.instagram.com/authorcarlocarrasco

Keep Call Centers in America Act of 2025 Causes Disturbance on Philippines Information Technology and Business Process Sector

Keep Call Centers in America Act of 2025 Causes Disturbance on Philippines Information Technology and Business Process Sector

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More than twenty years ago, I had a job at an American call center in Mandaue City, Cebu Province here in the Philippines. Back then, the call center industry of the nation was very young and yet quickly growing in terms of revenues, new foreign investments and new jobs. Today, the Philippines has a large information technology and business process management (IT-BPM) sector.

That being said, America today is quickly reforming under the leadership of President Donald Trump and already business ties and trade relationships have quickly been changing. In the United States Senate (US Senate), a bipartisan bill was formally filed – the Keep Call Centers in America Act of 2025.

Already, the proposal is already disturbing the information technology and business process management sector of the Philippines as revealed by the Manila Bulletin in its business news report.

To make things clear, I am not taking sides here. I am a citizen of the Philippines who worked for a few months in an American call center a very long time ago and at my age, I have no intention to return to call center work. I am already engaging in a new business that has nothing to do with call centers and business process management. As for how America’s leaders deal with call centers and business processing centers located in different parts of the world, that is their decision to make. It would be interesting, perhaps intriguing, to see how the Philippines IT-BPM sector will adjust if ever the Keep Call Centers in America Act of 2025 becomes a law someday.

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

The Philippine information technology and business process management (IT-BPM) sector is bracing for the potential impact of a bill in the United States (US) Senate that seeks to end the practice of offshoring among American call centers.

The IT and Business Process Association of the Philippines (IBPAP), the country’s leading IT-BPM group, said the industry is currently monitoring the progress of this proposed legislation.

“At this stage, we are continuing to track developments,” IBPAP told Manila Bulletin.

The proposed Keep Call Centers in America Act of 2025, filed as a bipartisan bill in the US Senate, is aiming to curb offshoring or relocation of business operations from one country to another as it pertains to call center jobs.

In a statement by Arizona Senator Ruben Gallego, a Democrat, he said the bill looks to reverse the continued decline of call center operations in America, driven by the emergence of artificial intelligence (AI) offshoring.

Citing data from the US Bureau of Labor Statistics (BLS), Gallego noted that the American call center industry will lose approximately 150,000 workers by 2033 if such practices persist.

“The Keep Call Centers in America Act would work to reverse this trend by limiting federal benefits to companies that ship call center jobs overseas,” said Gallego, who filed the bill with West Virginia Senator Jim Justice, a Republican.

Under the proposed bill, companies are required to notify the US Department of Labor (DOL) at least 120 days before relocating operations overseas or contracting out call center work to another entity that relocates abroad.

The DOL, meanwhile, will be mandated to maintain a public list of employers that have relocated operations. Companies will remain on the list for five years “unless they return an equal or greater number of call center jobs in the US.”

Call center firms on this list will be ineligible for new federal grants and guaranteed loans and will not be given preference when awarding contracts.

In a CBS News report, Gallego said that aside from supporting the return of domestic jobs, the bill will likewise address consumer concerns when it comes to “security around their private information.”

The bill, if enacted, will cover businesses with either 50 or more full-time employees, or 50 or more employees whose combined work hours total at least 1,500 per week. As such, the measure will impact large-scale call center operations such as those that are currently operating in the Philippines.

Based on a 2023 report by the Ateneo Policy Center, more than 200 US-based firms have invested approximately $7.8 billion to set up operations in the Philippines since 2003.

The proposed Keep Call Centers in America Act could not have come at a worse time, given that the Philippines’ services exports are slowing down.

In a report, Bank of the Philippine Islands (BPI) lead economist Emilio Neri Jr. noted that services exports shrank by 4.2 percent year-on-year in the second quarter of 2025, citing data from the Philippine Statistics Authority (PSA).  This followed a 6.3-percent growth rate in the first quarter, which decelerated from a 13.2-percent expansion in the fourth quarter of 2024.

Neri said the services export sector is weighed down by a sharp drop in travel and signs of weakness in the IT-BPM sector.

To examine the details of the Keep Call Centers in America Act of 2025, click here and here.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you know a lot of people here in the Philippines who work in American call centers? Do you seriously believe that if ever the Keep Call Centers in America Act of 2025 becomes a law, it will someday compel American companies to close down its call centers here in the Philippines and create a wave of new job losses? Without American companies and clients, do you think the Philippines IT-BPM sector will shrink dramatically? Do you think the Keep Call Centers in America Act of 2025 will be passed by US Congress and get signed into law by US President Trump?

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

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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 athttps://www.instagram.com/authorcarlocarrasco

P7-billion redevelopment and expansion of SM Megamall pushing through

P7-billion redevelopment and expansion of SM Megamall pushing through

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When was the last time you visited SM Megamall here in the Philippines? I was there a few months ago and it still has that same long rectangular structure with lots of stores, restaurants and service providers occupying spaces. It has been 33 years since my first-ever visit at SM Megamall. That being said, SM Megamall is up for major changes as a P7-billion redevelopment and expansion plan for it has been approved with a competition target between 2027 and 2029, according to a Manila Bulletin business news report.

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

SM Prime Holdings Inc. (SM Prime), the Sy family’s property development company, is investing ₱7 billion to redevelop and further expand SM Megamall, one of the Philippines’ most iconic malls, with phased completion targeted between 2027 and 2029.

In a disclosure to the Philippine Stock Exchange (PSE), the firm said the project is designed to elevate the customer experience while embedding long-term sustainability measures across the property.

Designed by United Kingdom (UK)-based architectural firm Benoy—known for developments like Jewel Changi in Singapore and Icon Siam in Thailand—the new SM Megamall will adopt a “Crystal Islands” concept, emphasizing natural light, open flow, and organic forms.

The redevelopment will add 20,000 square meters (sqm) of gross leasable area (GLA) and introduce nature-inspired architecture, improved mobility features, and energy-efficient systems. The addition of themed retail zones and intuitive wayfinding is designed to make the mall more accessible, while encouraging visitors to explore and discover new experiences throughout the expansive complex.

Operational upgrades include a new four-level basement parking facility with over 1,600 slots, expanded walkways and ceilings, and improved circulation through wider corridors and modernized vertical transport.

The redevelopment also includes relocated state-of-the-art cinemas, a new Megatrade Hall, a redesigned food court, and upgraded common areas and restrooms.

Sustainability features are integral to the redevelopment blueprint. A rainwater harvesting system with a 500-cubic-meter capacity will support water conservation, while upgrades to the mall’s mechanical systems are expected to reduce overall energy consumption.

ETFE roofing will be used to let in natural light and reduce cooling costs, while skylights and clerestory windows will minimize artificial lighting.

Let me end this post by asking you readers: What is your reaction to this recent development? When was the last time you spent at least half a day at SM Megamall doing shopping and leisurely activities? Are your favorite restaurants located inside SM Megamall?

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

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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 athttps://www.instagram.com/authorcarlocarrasco

Festival Mall acquisition boosts FILRT growth and portfolio size

Festival Mall acquisition boosts FILRT growth and portfolio size

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Remember when Filinvest REIT Corp. (FILRT) acquired Festival Mall for P6.26 billion months ago? Already the premier Alabang shopping mall has boosted the earnings and portfolio size of FILRT, according to a business news report by the Manila Bulletin.

For the newcomers reading this, read my previous posts about Festival Mall (which first opened in May 1998) and FILRT by clicking here, here and here. FILRT meanwhile is reputed for being one of the top taxpayers in Muntinlupa City.

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

Filinvest REIT Corp., the real estate investment trust of the Gotianun Group, declared ₱404 million in fresh dividends after reporting an 8.3 percent growth in net income to ₱651 million in the first six months of 2025 from ₱601 million in the same period last year.

The firm disclosed to the Philippine Stock Exchange that, for the first half of the year, it recorded revenues of ₱1.57 billion, higher by 13 percent from the same period in 2024, resulting from improvements in operations and the addition of Festival Main Mall to the portfolio.

Meanwhile, costs and expenses were contained at ₱613 million, higher by one percent, while other charges were lower by four percent to ₱187 million.

Festival Main Mall started accruing to the revenue stream of FILRT beginning May 29, 2025, equivalent to one month and three days’ revenue contribution.

The addition of Festival Main Mall is seen to improve FILRT’s earnings per share by 5.5 percent in 2025. With the additional asset, FILRT’s portfolio size increased by 37 percent in terms of GLA to 452,310 square meters.

“We are pleased to have infused a value-adding asset into our portfolio through Festival Main Mall. Having this momentum, we look forward to adding more assets and diversifying our tenant base to further the growth of the company,” said FILRT President and CEO Maricel Brion-Lirio.

The company’s portfolio of 17 office buildings, one mall, and one resort lot totaling 452,310 square meters had an occupancy of 86 percent at the end of the first half of 2025, an improvement of five percentage points from 81 percent in June last year.

The current overall tenant mix is comprised of 60 percent offices, 32 percent retail, and the balance for hospitality. Of the offices segment, 84 percent are multinational BPO companies while 16 percent are traditional.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think FILRT will somehow improve the quality of Festival Mall in terms of structure and tenants? Was it a surprise that Festival Mall boosted the earnings of FILRT this early?

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

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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

PLDT Moving Headquarters to Filinvest City

PLDT Moving Headquarters to Filinvest City

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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.

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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

Filinvest Group still optimistic with Alabang central business district

Filinvest Group still optimistic with Alabang central business district

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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.

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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

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

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

carlocarrasco

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.

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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

What to watch on YouTube right now – Part 32

What to watch on YouTube right now – Part 32

carlocarrasco

Welcome back, my readers, YouTube viewers and all others who followed this series of articles focused on YouTube videos worth watching. Have you been searching for something fun or interesting to watch on YouTube? Do you feel bored right now and you crave for something to see on the world’s most popular online video destination?

I recommend you check out the following topics and the related videos I found.

Popcorn in Bed’s Logan reaction video  – I saw Logan three times in different cinemas – the first viewing on IMAX – here in the Philippines in 2017. The movie is still great to watch as it carries the R-rated vibe of 1980s Hollywood action cinema and it remains Hugh Jackman’s greatest performance as Wolverine. Unsurprisingly, Logan is the subject of several YouTubers’ movie reaction videos and in recent times Popcorn in Bed released its own reaction video which I really enjoyed watching. If you have not seen Logan, I urge you to watch it first before seeing any reaction videos. Otherwise, Popcorn in Bed’s video is posted below for your enjoyment.

Sega Lord X’s Retro Awful video – I’ve been having retro gaming fun on my Xbox Series X this year with Grandia, Grandia II, Contra, Gradius, and Elevator Action Returns to name some. I am also enjoying the Atari 50 Collection Xbox copy as well. When it comes to old games that are not fun or are simply terrible, Sega Lord X published a video about which games from the past to avoid. Watch the video and pay close attention to the games shown.

Chuck E. Cheese documentary  – Have you ever heard of Chuck E. Cheese? It started as a restaurant that had a clever blend of entertainment (arcade games, amusement rides and musical shoes) with dining that attracted families. It also became known as a fun-filled place to have wholesome parties at. Although I have visited the United States many times, I never got to visit a single Chuck E. Cheese branch nor was there ever an opportunity for me to try the food they cooked.

Chuck E. Cheese (original name: Chuck E. Cheese’s Pizza Time Theater) was established in the late 1970s by Nolan Bushnell, the same man who founded Atari. The restaurant chain went through several developments and changes as each decade passed by. The most comprehensive video about Chuck E. Cheese that I found is from YouTuber Bright Sun Films and you can watch it below.  

Angry Video Game Nerd’s (AVGN) 3DO console video – If you are into video games for a long time, then you might at least have heard of the failed 3DO (formally called the 3DO Interactive Multiplayer) game console which was notable for its multimedia approach with gaming. The console was also known for not having a strong lineup of video games and for launching with a very high price. As a part of retro gaming culture, the 3DO is the subject of many retrospective videos by YouTubers. The one retrospective 3DO video that I found entertaining to watch is that of the Angry Video Game Nerd (AVGN) which you can watch below. Be warned of brash humor and foul language.

Minty Comedic Arts’ “The Version You’ve Never Seen” videos – YouTuber Minty Comedic Arts is great with making entertainment trivia videos and he has attracted a lot of viewers from around the world. Apart from trivia videos, he is also good with “The Version You’ve Never Seen” videos which provide viewers a captivating new look at movies that could change the way they perceive them. Since there are many, I selected three for your viewing pleasure. To see more of these kinds of videos, visit Minty Comedic Arts’ YouTube channel.

ESPN’s “Nobody came closer to ending the Bulls’ dynasty than Reggie Miller’s Pacers” video  – When I look back at the 1998 NBA Playoffs, I could never forget the Eastern Conference Finals between the Indiana Pacers and the eventual repeat champions Chicago Bulls. Both teams played hard, there were a few games that concluded with a high level of suspense, and the series went to a full seven games. Apart from seeing Michael Jordan and Reggie Miller doing their on-court heroics, it was a unique experience to see NBA legend Larry Bird coaching the Pacers (note: Bird led the Boston Celtics to NBA Playoff victories over the Chicago Bulls when Jordan was much younger). To see a detailed and engaging retrospective about the Bulls-Pacers series of 1998, watch the video below.

Ashleigh Burton’s Citizen Kane movie reaction video – Citizen Kane is one of the most revered American movies ever made. Starring and directed by the late Orson Welles, the movie dramatized the story of fictional media tycoon Charles Foster Kane while showcasing many creative filmmaking techniques that influenced other filmmakers through the decades. Citizen Kane was one of the very first Blu-ray discs I ordered through Amazon and I occasionally replay it. Among the many movie reaction videos of Citizen Kane posted on YouTube, Ashleigh Burton’s own reaction should be seen. Before you watch Ashleigh Burton’s video below, I encourage you to watch the classic movie first.

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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 athttps://www.instagram.com/authorcarlocarrasco

Better than Streaming: Amusement tax will not be imposed on Filipino films in Muntinlupa City for the next 3 years

Better than Streaming: Amusement tax will not be imposed on Filipino films in Muntinlupa City for the next 3 years

carlocarrasco

Welcome back, fellow geeks and movie buffs!

Recently in the City of Muntinlupa, the City Government approved an ordinance establishing a moratorium on the collection of the amusement tax on Filipino films (note: movies produced by Philippine companies/organizations) within the city for the next three years, as reported by the Manila Bulletin. The ordinance was signed into law by Mayor Ruffy Biazon.

In short, local companies here in the Philippines whose films are shown in theaters within the jurisdiction of Muntinlupa City could earn more as the amusement tax won’t be imposed for most of the year for the next three years while the cinema operators themselves can benefit along the way.

I say most of the year because the moratorium does not cover the time period of December 25 to January 7 which is precisely the time when the annual Metro Manila Film Festival (MMFF) happens.

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

Muntinlupa Mayor Ruffy Biazon and the City Council approved an ordinance granting a three-year moratorium on the collection of amusement tax from Filipino films in the next three years.

The Muntinlupa City Council passed and Biazon signed Ordinance No. 2024-229 “Declaring Moratorium on the Collection of Amusement Tax for Filipino Films in the City of Muntinlupa from January 08 to December 24 of every year for the next three (3) years.“

Under the existing Local Government Code, “The province may levy an amusement tax to be collected from the proprietors, lessees, or operators of theaters, cinemas, concert halls, circuses, boxing stadia, and other places of amusement at a rate of not more than ten percent (10%) of the gross receipts from the admissions fees.”

In February, the Metro Manila Council adopted the Metropolitan Manila Development Authority (MMDA) Resolution No. 24-11 “Declaring a Moratorium on the Collection of Amusement Tax for Filipino Films in Metro Manila from January 08 to December 24 of Every Year for the Next Three Years.”

In the Muntinlupa ordinance, it was stated that the MMDA resolution “was adopted to recognize the importance of the local film industry in promoting cultural and economic development and in response to the appeal of the local filmmakers to boost the film industry after the impact of the COVID-i9 Pandemic on the production and exhibition of Filipino Films, and the dominance of foreign films.”

Under the ordinance, all cinemas in Muntinlupa can avail of the moratorium on the collection of amusement taxes for Filipino films from Jan. 8 to Dec. 24 of every year for the next three years.

When it comes to the state of cinemas within Muntinlupa City, Commercenter has four screens and I noticed over the past two months that only 2 or 3 were operating during my visits there. Over at Festival Mall, their 4-screen modern cinemas are fully operating but their original cinemas (located several feet away by foot on the same floor) are still dark and depressing as only 2 or 3 screens (out of ten screens) were operating almost all the time.

As for the cinemas in Alabang Town Center, they seem to be operating normally and continue to attract a steady amount of moviegoers.

Going back to the approved moratorium, it remains to be seen if it could lead to a potential reduction of ticket prices in relation to Filipino movies within Muntinlupa. Even if ticket prices get reduced, would it be enough to convince people to come to the Muntinlupa cinemas and buy tickets for the cinematic experience. There is also the factor of the quality of Filipino movies showing in Muntinlupa movie theaters plus the factor of foreign movies.

As a resident of Alabang who saw lots of movies in the local cinemas, I noticed that Muntinlupa City is lacking when it comes to hosting film festivals (note: the annual MMFF does NOT count). Special events about movies focusing on variety, quality and artistry being held in Muntinlupa can help cinema operators attract moviegoers as well as the enthusiastic film buffs.

Perhaps the City Government or barangays could someday organize a special event of short films made by Muntinlupa-based filmmakers and have such films screened in local cinemas. Organizing another film festival showcasing films by independent filmmakers from around the country and having them screened in theaters within the city could help too.

Still on the topic of Filipino movies, when will the time come when the major local movie producers will have premieres of their new movies held in cinemas here in Muntinlupa and give locals the chance to see their favorite movie stars in person?

Let me end this post by asking you readers: What do you think about the 3-year moratorium approved by the City Government of Muntinlupa? Do you think that cinemas in Muntinlupa are losing money? Do you think the newly approved moratorium could be disadvantageous to the City Government in terms of revenue?

If you wish to join a group of movie enthusiasts and talk about cinema, visit the Movie Fans Worldwide Facebook group at https://www.facebook.com/groups/322857711779576

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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