Facebook – Page 64 – Author Carlo Carrasco

Festival Mall acquisition boosts FILRT growth and portfolio size

August 17, 2025August 8, 2025carlocarrasco

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.

+++++

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

Barangay and Sangguniang Kabataan Elections (BSKE) officially moved to November 2026

August 16, 2025August 15, 2025carlocarrasco

In case you missed the news, the Barangay and Sangguniang Kabataan Elections (BSKE) – originally scheduled for this year – has officially been moved to November 2026 as Philippine President Ferdinand “Bongbong” Marcos, Jr., signed into law a measure passed by Congress, according to a Manila Bulletin news report. Notably, the BSKE will be held every four years staring in 2026.

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

President Marcos has signed into law a measure extending the term of office for barangay and Sangguniang Kabataan (SK) officials to four years as he postponed the December 2025 BSK elections to November next year.

Republic Act No. 12232, signed by the President on Wednesday, Aug. 13, amends the current three-year term and limits barangay officials to a maximum of three consecutive terms in the same position. SK officials, meanwhile, are limited to one term.

Under the law, the next barangay and SK elections will be held on the first Monday of November 2026 and every four years thereafter. Winners will assume office on the first day of December following their election.

All incumbent barangay and SK officials will remain in their posts until their successors have been elected and qualified, unless they are removed or suspended for cause.

The measure bars incumbent barangay officials serving their third consecutive term from running for the same position in the 2026 polls. The same applies to SK officials who have already served their maximum term.

The Commission on Elections (Comelec) is mandated to issue implementing rules and regulations within 90 days from the law’s effectivity, which takes place immediately after publication in the Official Gazette or a newspaper of general circulation.

Let me end this post by asking you readers: What is your reaction to this recent development? Were you surprised to see the BSKE elections postponed again? What do you think of the new rules regarding the terms of service for barangay and SK officials?

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

+++++

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 engagement, 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 95

August 15, 2025August 11, 2025carlocarrasco

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 videos I found.

#1 PatmanQC examines Popeye video games – Were you able to play the classic Popeye arcade game from Nintendo in the early 1980s? How about the other video games that featured Popeye the Sailor Man? Indeed, the American icon Elzie Crisler Segar had a presence in video games and I was fortunate enough to play a Popeye game on Nintendo Entertainment System (NES) a long time ago. To find out more about how Popeye went from cartoons and literature to video games, and what led to the production of the arcade game by Nintendo, watch the in-depth retrospective video below by the late PatmanQC.

#2 You, Me and the Movies react to Suburban Commando – In recent times, the famous Hulk Hogan passed away at age 71. Apart from being very famous as a wrestler, he also made his presence felt in movies with such films like Rocky III, No Holds Barred, Suburban Commando and more. Recently, You, Me and the Movies posted its reaction video about Suburban Commando and it is entertaining to watch.

#3 Foreigners love all-you-can-eat in Japan – If you will visit Japan as a tourist, how much food do you plan to eat? Recently there is a trend in which foreigners, specifically tourists from different countries, visiting the all-you-can-eat restaurants in Japan and it is not surprising that such images or details are spreading over social media. If you are interested in food and where to eat in Japan, watch the video below.

#4 Superman Dean Cain joins ICE – Immigration matters, particularly the presence of illegal immigrants, are still hot topics in American society. In recent times, the famous television Superman Dean Cain made the crucial to join the United States Immigration and Customs Enforcement (ICE) and help in the effort to apprehend illegal immigrants (who are always supported by Democrats, the terrorists, the criminals, the woke and Satanic Leftists) and deport them. To learn the details about the latest move of the star of Lois & Clark: The New Adventures of Superman, watch the Sky News Australia video below. I also added Minty Comedic Arts trivia video of Lois & Clark for those who want to learn more about the series and Dean Cain’s work.

#5 Twilight Zone: The Movie revisited – When I was a young boy, I saw a preview of Twilight Zone: The Movie on TV before it opened in local cinemas. I only got to watch it on cable TV in the 1990s and replayed it on DVD some years later. The 1983 movie, which had short stories crafted by different directors (including Steven Spielberg and George Miller), is indeed flawed yet a focused attempt by the filmmakers to get people involved with the decades-old Twilight Zone franchise as a whole. That being said, I encourage you to watch the selected Twilight Zone: The Movie videos below.

+++++

Responsible waste management, illegal dumping and other topics discussed in Las Piñas City seminar

August 15, 2025August 7, 2025carlocarrasco

Recently in the City of Las Piñas, the topics of environmental compliance, responsible waste management and others were discussed in detail in a seminar conducted by the City Environment and Natural Resources Office (CENRO), according to a Manila Bulletin news report.

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

The Las Piñas City Environment and Natural Resources Office (CENRO) conducted an environmental compliance seminar aimed at raising awareness, instilling discipline, and reinforcing compliance with existing environmental laws and local ordinances.

Las Piñas City Mayor April Aguilar said the seminar was held for individuals apprehended for illegal dumping and improper waste disposal within the city.

Topics discussed during the seminar included strict enforcement of waste segregation at the source, proper disposal and handling of solid waste, individual accountability in maintaining clean surroundings, and adherence to environmental regulations under R.A. 9003.

Aguilar emphasized that the city has existing ordinances and programs focused on proper waste management, particularly on waste segregation and disposal.

She noted that the city actively enforces Republic Act 9003, or the Ecological Solid Waste Management Act of 2000, and holds environmental seminars for violators.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Do you think the City Government has been doing enough to keep the city clean and engage local communities to do their part on environmental compliance?

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

+++++

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 engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Jobless Filipinos reach almost 2 million in June 2025

August 14, 2025August 6, 2025carlocarrasco

The number of jobless Filipinos swelled largely to almost two million this past June when compared to a year prior, according to a Manila Bulletin news report. Among the factors were the job losses in the gambling and betting sector, the construction sector and in 3 other sectors.

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

Coupled with an increase in unpaid workers, the number of jobless Filipinos swelled by more than 300,000 to 1.95 million in June from 1.62 million a year ago, with the online gambling sector partly contributing to the pool of unemployed.

Preliminary data from the Philippine Statistics Authority (PSA) showed that job losses in June translated to a higher unemployment rate of 3.7 percent from 3.1 percent in the same month last year.

“Gambling and betting activities contributed to the drop in arts, entertainment, and recreation, along with other amusement and recreation activities,” Deputy National Statistician and PSA Assistant Secretary Divina Gracia L. Del Prado said during a press briefing on Wednesday, Aug. 6.

Del Prado reported that the gambling and betting subsector shed nearly 210,000 workers, stressing that this had the largest share in the decrease of employees in arts, entertainment, and recreation.

Other than arts, entertainment, and recreation, the four other sectors that were major contributors to June’s job losses were construction (-692,000), agriculture and forestry (-580,000), manufacturing (-424,000), and mining and quarrying (-96,000).

Conversely, the employment rate dropped to 96.3 percent in June from 96.9 percent from June last year. In terms of numbers, employed Filipinos stood at 50.47 million, nearly 200,000 individuals higher than 50.28 million a year ago.

Data from the PSA showed that the services sector accounted for the largest share of jobs during the month at 61.4 percent, followed by agriculture with 20.9 percent, and industry with 17.7 percent.

Fishing and aquaculture posted the highest gains in June, with an additional 512,000 employed. Wholesale and retail trade, and vehicle repair recorded the second largest gain of 375,000.

Completing the subsectors with largest increases were financial and insurance activities (327,000), transport and storage (211,000), and health and social work (179,000).

“What we’re seeing now isn’t very encouraging. If you look at the increase by class of worker, a large portion came from unpaid workers—actually, 296,000. Employers increased by 80,000, and self-employed by 75,000,” Del Prado said.

“But the more [impacted] group is the unpaid workers, since that’s where the increase happened—and that’s not the kind of growth we want. The rise should have been in wage and salary earners, so this isn’t a very good result,” Del Prado further said.

Del Prado noted that wholesale and retail trade saw a significant increase, with unpaid workers in this sector bloated by nearly 150,000. Fishing and aquaculture also added 102,000 unpaid jobs.

“Employment in both sectors increased, but a large part of that growth was in unpaid work. This suggests we still need to improve the quality of jobs. And if you also notice the trend in underemployment, it has barely dropped to single digits—only once so far.”

“So we still need to improve job quality. While our employment rate has been rising over time, I think we need to focus more on improving the quality of work, because the underemployment rate shows that it hasn’t improved yet,” she urged.

According to Del Prado, underemployment last fell to single digits in May 2024 at 9.9 percent but has remained in double digits since then. Underemployment in June lowered to 11.4 percent from 12.1 percent a year ago.

Let me end this post by asking you readers: What is your reaction to this recent development? What do you think needs to be done in order to improve job quality? Are a lot of people in your local community considered unemployed or underemployed? Do you think the current growth of the national economy will create a significant number of new jobs before the year ends?

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

+++++

USAID closure felt by minority group in Nepal

August 12, 2025August 11, 2025carlocarrasco

Nepal, a nation of more than 30 million people and with a Hindu majority, has a certain group of minority people whose reliance on the scandalous U.S. Agency for International Development (USAID) ended months ago and they event went on to celebrate pride recently, according to a news report by the Leftist Associated Press (AP) magnified by the Manila Bulletin.

For the newcomers reading this, the USAID global scandal happened months ago and there was a list of overseas projects of questionable and wrongful purposes that were funded with American taxpayers’ money. USAID has formally shut down and was incorporated into the State Department.

To put things in perspective, posted below is an excerpt from AP story published through the Manila Bulletin. Some parts in boldface.

Members of the Nepal’s LGBTQ+ community and supporters rallied in the capital Sunday in the annual pride rally, which was the first since a major cut in funding after the U.S. government ceased financial aid.

Hundreds of people took part in the rally through the heart of Kathmandu, playing music and dancing in the Gai Jatra festival, which is celebrated to remember family members who have passed away during the year. But it has long drawn colorful parades by bringing in sexual minorities to join in on the festivities.

Nepal’s LGBTQ+ campaign has been hit after U.S. President Donald Trump’s administration began dismantling the U.S. Agency for International Development, which was responsible for humanitarian aid.

Most of the support centers for Nepal’s LGBTQ+ community have been closed because of a lack of funds.

In the past few years, Nepal’s LGBTQ+ community made rapid advancements in securing their rights. The nation became one of the first in Asia to allow same sex-sex marriage. The constitution adopted in 2015 explicitly stated there can be no discrimination on the basis of sexual orientation.

The U.S. was among the biggest donors for the LGBTQ+ rights campaign.

Over the years, USAID and others stepped in and partnered with help centers to support initiatives like HIV prevention and care, and safe-sex counselling. The U.S. funds were vital for running the centers and clinics that helped with distributing free condoms, screenings and follow-up treatment for people with HIV. Now the USAID office in Nepal is closed.

Even though they don’t have funds anymore from USAID, the minority group in Nepal still went on to spend time and money on celebrating pride. Here in the Philippines, the local LGBTQIA+ organizations depended on USAID funding. The USAID funding for the LGBTQ people in Nepal looks similar to what was funded to their Filipino counterparts. Going further, there was even an LGBTQ comic book project in Peru that got funded with $32,000 American taxpayers’ money. Very clearly, USAID was very abused and funded wrongful and questionable projects around the world.

Let me end this piece by asking you readers: What is your reaction to this development? Are you glad that the Trump administration ended USAID? Are you still upset over the fact that American taxpayers’ money funding LGBTQ projects, contraceptives, DEI (diversity-equity-inclusion) causes, and sex change procedures around the world through USAID? What do you wish to say to LGBTQ groups overseas who benefited from USAID support? Do you think that the LGBTQ projects funded by USAID might have involved bribery? Do you think US Congress should pass a proposal to prevent USAID from ever being revived?

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

+++++

Las Piñas City Deploys Over 1,000 “Habagat” Victims for 10-day Community Work

August 12, 2025August 11, 2025carlocarrasco

Recently in the City of Las Piñas, the City Government deployed over one thousand “habagat” victims to do community work for a 10-day period in accordance to the Department of Labor and Employment’s (DOLE) Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD) program, according to a Manila Bulletin news report.

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

The city government of Las Piñas deployed around 1,200 victims of the southwest monsoon or “habagat” to do community work for 10 days under the Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD) program of the Department of Labor and Employment (DOLE).

Las Piñas City Mayor April Aguilar said that under “Alagang April,” the Public Employment Service Office (PESO) helped the 1,200 residents to earn and recover from the recent “habagat” and typhoons that hit the country.

Aguilar said the beneficiaries belong to the vulnerable sector and will conduct community work for 10 days around the city by sweeping around their barangays, helping in the drainage of canals, and maintaining cleanliness in their areas.

She said the TUPAD beneficiaries attended an orientation on their community work and will receive P6,950 each.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Do you under the detail of the TUPAD program with regards to providing temporary employment opportunities for the disadvantaged people? How many people in your local community got deployed by the City Government?

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

+++++

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 engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Philippines inflation rate falls below 1% in July 2025

August 12, 2025August 5, 2025carlocarrasco

After the slight rise recorded in June 2025, the inflation rate of the Philippines fell below 1% this past July, according to news article by the Philippine News Agency (PNA).

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

The country’s inflation or the rate of increase in the prices of goods and services reversed its path in July 2025 after decelerating to 0.9 from month-ago’s 1.4 percent, driven primarily by the slower upticks in electricity rates and prices of liquefied petroleum gas (LPG).

The latest inflation figure, the lowest since October 2019’s 0.6 percent, brought the average in the first seven months this year to 1.7 percent, still below the government’s 2 to 4 percent target.

National Statistician Claire Dennis Mapa, in a briefing Tuesday, said food and non-alcoholic beverages also contributed to the lower inflation rate last July due to lower price increases of several items like rice, vegetables, tubers and cooking bananas; and fuel prices.

He said a continued drop in rice prices is seen to result in slower uptick for this particular item for the rest of the year, despite the proposal to stop rice importation and increase tariff to protect local farmers.

The government increased rice importation and lowered rice tariff from 35 percent to 15 percent for a period, starting in the second half of 2024 until 2028 to address rice price hikes.

This resulted in lower rice inflation, from 14.7 percent in August 2024 to 0.8 percent in December last year. Mapa forecast rice inflation to remain in negative territory for the next four months.

“The expectation is negative average rice inflation for the whole year,” he said in a mix of Filipino and English.

In terms of the impact of recent typhoons, Mapa said prices of vegetables have inched up in the second half of July, which is normal during typhoon season.

While inflation is seen to remain low, he pointed out that there are threats such as the higher prices of pork products, due to the impact of African swine fever; higher demand for chicken meat, as an alternative to pork, and rising prices of fish.

Deflation in low-income households – With the government is offering cheaper rice to the vulnerable sector, inflation rate for the bottom 30 percent income group as of July slipped to -0.8 percent from the year-ago’s 5.8 percent, the Department of Economy, Planning, and Development (DEPDev) noted.

Aside from rice, other contributors to the lower inflation rate for the bottom 30 percent income group are slower upticks in the prices of corn and vegetables and tubers, it said.

“The sustained drop in rice prices and the easing of inflation for low-income households are clear signs that our interventions are working. This not only helps Filipinos preserve the value of their peso but also builds confidence for businesses and consumers to plan ahead,” DEPDev Secretary Arsenio Balisacan said.

“While we expect the overall inflation for 2025 to remain favorable and supportive of domestic demand, we remain vigilant against external risks, including global policy shifts and geopolitical tensions,” he said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think there is a chance that the inflation rate of the Philippines will remain below 1% for the rest of 2025? Do you think the deflation of rice will continue going into 2026?

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

+++++

What to watch on YouTube right now – Part 94

August 11, 2025August 8, 2025carlocarrasco

I recommend you check out the following videos I found.

#1 Popcorn in Bed react to Man of Steel – It has been over twelve years since I first saw Man of Steel in the cinema. Directed by Zack Snyder, the 2013 Superman movie had a mixed reception but managed to gross $670 million worldwide and led Warner Bros. to releasing more DC Comics superhero movies in a shared universe (ended in 2023). Recently, Popcorn in Bed finally posted its reaction video of Man of Steel and I can say it is worth the wait. Watch it now.

#2 Where to buy onigiri in Tokyo – Have you tried eating onigiri lately? Onigiri is a rice ball (rice wrapped in nori) popular in Japan and it is eaten by hand. While there is a growing number of convenience stores selling onigiri, there is still nothing like buying freshly made onigiri in dedicated stores or restaurants in Tokyo. Watch and learn from the video below.

#3 Faked presentation of starvation in Gaza exposed! – You might have seen all the news and images about starvation in Gaza through mainstream news outlets such as CNN, MSNBC, The New York Times, Reuters, Associated Press, Agence France-Presse, The Washington Post and more. Countless reports and images were published showing Gaza residents (Palestinians) desperate for food made gullible people sympathetic for the hungry while also becoming angry towards Israel. The truth of the matter is that the portrayal of Palestinian starvation is fake, staged and deliberately crafted by the Islamic terrorists who have lots of mainstream news media partners-in-crime with them. There is no real famine in Gaza at all and it is undeniable that Palestinian terrorist group Hamas (loved by the Islamo-Leftist media) stole humanitarian aid to feed themselves leaving nothing for their fellow Gaza residents. Watch and learn from the videos below.

#4 Full Metal Jacket reaction videos – Released in 1987, Stanley Kubrick’s Full Metal Jacket succeeded in intriguing or even shocking moviegoers whose perception of the Vietnam War got shaken. To be clear, the movie (which starred Matthew Modine, R. Lee Ermey, Vincent D’Onofrio, Adam Baldwin, and Arliss Howard) was more than just about war. It also showed the dehumanizing effects of war preparation, the dark humor that happens during war time and how people react when their emotional limits and sanity were really pushed hard. That being said, you should see how the movie draws reactions from the following YouTubers through their respective reaction videos.

#5 Slope’s Game Room examines Castlevania game franchise – Since the 1980s, Konami and its talented developers produced a whole lot of Castlevania video games ranging from 2D side-scrolling adventures into 3D polygonal escapades. Considering how significant Castlevania is as a game franchise, now is a good time to examine the history of Castlevania through the in-depth videos of Slope’s Game Room below.

+++++

Ayala-Mitsubishi’s P18.4 billion GCash deal closed

August 11, 2025August 1, 2025carlocarrasco

After being cleared by the Philippine Competition Commission (PCC), the P18.4 billion deal between Ayala Corporation and Mitsubishi Corporation regarding a 6.5% stake in GCash owner Globe Fintech Innovations Inc. (Mynt) has finally closed, according to a Manila Bulletin business news report.

For the newcomers reading this, the Ayala-Mitsubishi deal was sealed a few months ago and it was perceived that it will likely boost the IPO of GCash.

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

The Zobel family’s Ayala Corp. (AC) has closed the sale of a 6.5-percent stake in GCash owner Globe Fintech Innovations Inc. (Mynt) to long-time partner Mitsubishi Corp. for ₱18.4 billion after the deal was cleared by the anti-trust watchdog Philippine Competition Commission (PCC).

In a disclosure to the Philippine Stock Exchange (PSE), Ayala said it has sold half of wholly owned AC Ventures Holding Corp. (ACV) to Mitsubishi. ACV owns about 13 percent of Mynt. Mynt has two financial technology (fintech) companies: G-Xchange Inc., the mobile wallet operator of GCash, and Fuse Lending, a tech-based microlender.

The PCC has cleared the deal after finding that Mitsubishi’s investment in ACV would not significantly reduce competition in the market for QR code-based digital payments to merchants.

The PCC noted in its decision the relatively small market share held by GCash in the provision of QR-based person-to-merchant payments. Additionally, the PCC cited the strong governmental push for interoperability in QR-based payments in the country as a factor in its approval.

Person-to-merchant payments, facilitated by QR codes, enable businesses to accept digital payments from consumers for goods and services.

While Mitsubishi indirectly owns Lawson Philippines, a convenience store chain that accepts QR code-based payments from consumers, the PCC said that its limited presence means the transaction would not result in a substantial lessening of competition.

“Mitsubishi, Japan’s largest trading company, can help Mynt grow overseas and within its own significant Japan-based ecosystem, and in areas like cloud-based payments and new credit algorithms,” Ayala said.

Ayala and Mitsubishi entered into a partnership and cooperation agreement in 1974 that has since featured industrial estates, renewable energy (RE) projects, a water utility, and auto dealerships.

Ayala President and Chief Executive Officer (CEO) Cezar P. Consing said earlier that, “We believe Mitsubishi can add meaningful value to Mynt, which will allow Mynt to deliver significant value to its over 94 million registered users.”

ACV will serve as Ayala and Mitsubishi’s joint venture (JV) entity that will explore consumer-related and digital opportunities in the Philippines.

“These initiatives are aligned with AC’s strategic priority to support the growth of clear business winners within its portfolio,” Ayala said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think there will be a series of technological and technical improvements happening with GCash as a result of the closed deal between Ayala and Mitsubishi? How many people in your household are using GCash nowadays?

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

+++++

	veer66 on Philippines Electricity The Mo…
	Business Channel on Japan Determining Lifting Impo…
	Technology Channel on Japan Determining Lifting Impo…
	Politics Channel on Japan Determining Lifting Impo…
	Business Channel on Philippines Electricity The Mo…

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this: