governance – Page 27 – Author Carlo Carrasco

Mitsubishi and Ayala seal P18 billion GCash deal

April 8, 2025April 2, 2025carlocarrasco

Finally, the P18 billion GCash deal was sealed by Ayala Corp. and Mistubishi Corporation resulting in equal ownership of AC Ventures Holding Corp. which itself has a stake in the e-wallet giant’s operator, according to a Daily Tribune business news report. Take note, however, that the big deal is still subject to approval by regulators. The deal between the two corporations was previously disclosed last October.

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

Ayala Corp. (AC) and Japan’s Mitsubishi Corp. (MC) have finalized a P18.4-billion agreement that will give them equal ownership of AC Ventures Holding Corp. (ACV), which holds a stake in GCash operator Mynt.

In a disclosure to the stock exchange on Wednesday, Ayala said it formally signed an investment agreement with Mitsubishi last 31 March for the subscription to 18,033,946 common and redeemable preferred shares of ACV.

AC noted that the agreement amends a previous disclosure from 18 October 2024, which outlined a binding term sheet between the two firms. The proceeds of the transaction will be used to redeem AC’s redeemable preferred shares in ACV and cover related costs.

The deal, however, remains subject to regulatory approvals, including amendments to ACV’s articles of incorporation by the Securities and Exchange Commission and clearance from the Philippine Competition Commission.

Ayala President and CEO Cezar Consing previously said that the tie-up with Mitsubishi “can add meaningful value to Mynt, which will allow Mynt to deliver significant value to its over 94 million registered users.”

Ayala announced plans to bring in a strategic investor in August last year to strengthen GCash, which saw a surge in popularity during the pandemic. The conglomerate invested P22.4 billion in Mynt, increasing its stake in Globe Telecom, Inc.’s fintech arm.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think improvements with GCash will be realized under the Ayala-Mistubishi deal? Do you think the sealed deal will eventually get approved by the regulators? If you are a GCash user, what kind of improvements do you hope to see?

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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PEZA investment pledges jump 249% in January-March 2025

April 8, 2025April 2, 2025carlocarrasco

The Philippines is enjoying a surge of investment pledges in the Philippine Economic Zone Authority (PEZA) with a 249% jump in the first quarter of 2025, according to a Philippine News Agency (PNA) news article. The surge is expected to create many new jobs.

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

Investment pledges in the Philippine Economic Zone Authority from January to March 2025 hit PHP58.95 billion, 249 percent higher than the PHP13.95 billion project registrations in the same period in 2024.

PEZA reported Wednesday that the pledges came from 66 projects that registered with the investment promotion agency (IPA) in the first quarter of the year.

These new and expansion projects are expected to generate 15,815 direct jobs and contribute an additional USD497.46 million to export revenues.

“PEZA’s continued upward trajectory reflects our strong commitment towards investment promotion and facilitation, coupled with our most generous fiscal incentives under the CREATE MORE, and the other advantages placing the Philippines in a sweet spot for economic growth and development,” PEZA Director General Tereso Panga said.

“PEZA continues to play a vital role in advancing the country’s economic resilience through sustained job creation, increased exports, and enhanced investment attraction,” he added.

Twenty-four projects that were registered with PEZA in Q1 2025 are manufacturing activities and another 24 are in information technology and business process management.

Ecozone development and domestic enterprises got seven projects each, while utilities and facilities activities registered two projects each.

A big chunk of PEZA-approved investment in Q1 2025 are for Calabarzon (32 projects), followed by National Capital Region (12), Central Luzon (eight), Central Visayas (eight), Davao Region (two), Ilocos Region (two), Northern Mindanao (one), and Western Visayas (one).

To date, PEZA approved PHP49.81 billion worth of big-ticket projects, or those with investments exceeding PHP1 billion.

For March alone, the PEZA board approved 27 projects with total investments of PHP6.01 billion.

Two big-ticket projects were also approved last month with aggregate pledges of PHP2.62 billion for a water treatment facility in Batangas and a coconut milk manufacturing facility in Misamis Oriental.

“We are bullish that we will sustain this upward trajectory coming into the 2nd quarter of the year as we intensify our investment promotion initiatives partnered with the CREATE MORE incentives, the most generous fiscal incentives among ASEAN to date,” Panga said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the strong surge of investments in PEZA will continue to last throughout the year? Do you think the Philippine economy will grow beyond 6% this 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.

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Wanted Vietnamese national apprehended at NAIA Terminal 3

April 7, 2025April 1, 2025carlocarrasco

Recently a Vietnamese national who turned out to be a wanted person over kidnap and rape was arrested by immigration officers at Terminal 3 of the Ninoy Aquino International Airport (NAIA), 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…

Bureau of Immigration (BI) officers at the Ninoy Aquino International Airport (NAIA) Terminal 3 in Pasay City have arrested a Vietnamese national wanted in the country for abducting and raping a Chinese woman in 2023.

In a news release Monday, BI Commissioner Joel Anthony Viado said Nguyen Hu Mai, 48, was intercepted at the NAIA Terminal 3 while attempting to flee aboard a Cebu Pacific flight to Saigon last March 21.

The foreigner was immediately referred to supervisors for secondary inspection after his name prompted a positive hit in the centralized derogatory database of the bureau.

“Our supervisors were able to establish that the passenger and person appearing in our watchlist are one and the same. He was thus stopped and arrested by our airport personnel,” he added.

Nguyen was immediately turned over to the BI’s border control and intelligence unit (BCIU) and later transferred to the bureau’s detention facility in Camp Bagong Diwa, Taguig City.

According to BI-BCIU chief Ferdinand Tendenilla, Nguyen has been on the wanted list of the BI since March 10 when he and two Chinese nationals were charged with deportation for being undesirable aliens for being prime suspects in the kidnapping and rape case.

Police investigators alleged that on March 2, 2023, the three foreigners kidnapped a Chinese woman inside her condominium unit in Makati City.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think there could be more personnel of the Bureau of Immigration who are engaged in illegal activities that the national authorities have yet to find? Do you think that the syndicates behind human trafficking are a threat to national security?

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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Potential sites for future nuclear power plants being assessed by government

April 6, 2025April 2, 2025carlocarrasco

The effort towards a nuclear-powered Philippines moved forward a bit more as the Department of Energy (DOE) confirmed that it has been assessing potential sites for future nuclear power plants, according to a business news report by the Manila Bulletin.

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

The Department of Energy (DOE) is assessing various sites for future nuclear power plants, including possible locations in the western regions of the Philippines.

In a recent ambush interview, DOE Undersecretary Sharon Garin shared that while these potential sites are still being evaluated against specific criteria, several areas across Luzon, Visayas, and Mindanao have already been identified as possibilities for nuclear development.

“We have evaluated sites, but that’s still not final; it’s like [the DOE is] practicing [its] criteria,” she told reporters.

“So we assess, for example, [in] Bataan [province, the municipalities of] Morong [and] Mariveles. We’ve also assessed somewhere in Bulacan, [and] in Batangas.”

While these provincial areas already have large populations, Garin is also hopeful about the possibility of building other nuclear-related infrastructures, such as data centers, in the future.

“We’ve also assessed down south. There’s a lot—Masbate, Palawan, we’ve also gone there—some of them qualify because there [are] metrics.”

She also said that Western Visayas could be a viable location for hosting nuclear facilities, along with other regional areas that are less likely to be affected by tsunamis.

“Palawan is really one of the most stable [in terms of geology]. The problem [there] is the grid—it’s not connected.”

According to Garin, the DOE is closely looking at areas that are far from fault lines and volcanoes.

She emphasized, however, that these are not confirmed sites for development, adding that, “I don’t want to announce what the specific areas have passed because it might cause some anxiety among people.”

The Energy Undersecretary assured that the government is making significant progress in its preparations, including conducting surveys, developing frameworks, and forming key partnerships, such as the 123 Agreement with the United States (US). She expressed optimism that once legal and regulatory requirements are finalized, the country will be ready to begin issuing construction licenses by 2026.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the assessment by the government for potential nuclear power sites will be completed soon and pave the way for actual construction?

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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Several Chinese nationals arrested by NBI inside Ayala Alabang Village, firearms seized

April 4, 2025April 3, 2025carlocarrasco

With the support of the local community, the National Bureau of Investigation (NBI) arrested twelve Chinese nationals in three houses inside Ayala Alabang Village in Muntinlupa City, and seized varied firearms, ammunition and equipment, according to a news article by the Philippine News Agency (PNA).

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

The National Bureau of Investigation- National Capital Region (NBI-NCR) on Wednesday said it has arrested 12 Chinese nationals in Muntinlupa City for violation of Republic Act No. 10591 (Comprehensive Firearms and Ammunition Regulation Act).

In a news release, the NBI said the foreigners were nabbed in an operation conducted Monday evening to Tuesday morning in three residential houses in in Ayala Alabang Village by virtue of search warrants issued by the Regional Trial Court of Muntinlupa City.

The NBI operatives, together with representatives from the barangay, homeowners’ association and village security personnel, searched the premises and seized five pistols, along with magazines and ammunition in the first location; four pistols with magazines and ammunition, two taser guns, three bulletproof vests, tactical knives, and handcuffs on the second; and one pistol with a magazine and ammunition and tactical gear for pistols on the third.

Various identification cards belonging to individuals named Yi Wan, Wang Zenghui, Yichun Liu, Zhou Chenchen, Zhang Yu, Xiu Zhang, Zhang Qi Ja, Wang Zenghui and Wang Weibin were also seized.

The NBI said four vehicles were also impounded for verification after the owners failed to present the necessary documents.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you concerned that there could be more Chinese nationals living here in the Philippines armed with guns and other deadly weapons? How do you think the suspects acquired the firearms and ammunition in the first place? Do you think the arrested Chinese nationals were plotting a violent takeover of the community? Do you think violent crimes involving Chinese nationals in other cities could be connected with the suspects?

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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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

More than 500 residents of Barangay Talon Tres served by Las Piñas City’s Health and Wellness Caravan

April 3, 2025March 26, 2025carlocarrasco

Recently in the City of Las Piñas, over five hundred residents of Barangay Talon Tres got served with varied health services when the Health and Wellness Caravan was held in their local community, the City Government announced via social media. Vice Mayor April Aguilar attended the activity.

To put things in perspective, posted below is an excerpt from the social media post of the City Government. Some parts in boldface…

The Las Piñas City Health Office continued its commitment to accessible healthcare through another leg of the Health and Wellness Caravan held on Thursday, March 20, at the DFCAM-CLP Covered Court in Talon Tres. The event catered to over 500 residents, offering them a wide range of medical and wellness services free of charge.

Beneficiaries availed of medical consultations, blood pressure monitoring, ECG, cholesterol and blood sugar testing, dental care, mobile birth registration, and assistance with PhilHealth registration and Green Card applications. Nutritional counseling, massages, and free medicines were also made available on site to ensure holistic support for participants.

Vice Mayor April Aguilar led the activity, together with City Councilors Mark Anthony Santos and Henry Medina, who expressed their continued support for the city’s health initiatives. They also spent time with attendees to highlight the importance of maintaining personal well-being through regular check-ups and early medical attention.

City Health Officer Dr. Juliana Gonzalez stressed the ongoing significance of the caravan, noting how it provides direct access to essential healthcare services in barangays.

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? How many people in your local community want the Health and Wellness Caravan to be held?

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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Bureau of Immigration (BI) relieves seven personnel for suspected illegal activities

April 3, 2025March 27, 2025carlocarrasco

Over suspicion of engaging in illegal activities, the Bureau of Immigration (BI) recently relieved seven of its personnel from their posts, 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…

Seven personnel of the Bureau of Immigration (BI) suspected to be involved in illegal activities have been relieved from their posts.

In a statement Wednesday, Commissioner Joel Anthony Viado said the move aligns with President Ferdinand Marcos Jr.’s directive to eliminate corruption and strengthen border security.

He said the relieved personnel, assigned at the Ninoy Aquino International Airport (NAIA) Terminals 1 and 3, are under investigation following reports linking them to the illegal departure of trafficking victims repatriated on March 25.

If found to have assisted the victims, these employees would face charges before the Department of Justice.

Based on BI records, the victims arrived in Manila on board a Philippine Airlines flight from Bangkok, Thailand after being rescued by the Philippine government from online scamming syndicates in Myanmar.

While tighter measures are in place, Viado acknowledged the growing challenge of intercepting trafficking victims at airports, as many now come from well-off backgrounds and pose as legitimate tourists.

The BI chief also reported that a total of 1,093 victims of human trafficking were intercepted in 2024. These victims were referred to the Inter-Agency Council Against Trafficking (IACAT) for investigation and filing of cases against their recruiters.

Apart from pretending to be regular tourists, he warned that trafficking syndicates continue to exploit backdoor routes in an attempt to bypass stricter immigration controls.

Earlier this month, the BI reported the repatriation of three trafficking victims from Cambodia after being forced to work in a scam hub.

Investigations revealed they had no official record of departure, having been reportedly smuggled out via small boats from Jolo, Sulu, to Sabah, Malaysia.

The victims admitted that their passports were later stamped with fake Philippine departure marks before they traveled to Cambodia through Malaysia and Thailand.

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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IRR of Value-Added Tax (VAT) refund for foreign tourists signed

April 1, 2025March 25, 2025carlocarrasco

Recently the Philippines officially became a VAT-free destination for foreign tourists as the implementing rules and regulations (IRR) of Republic Act 12079 (Value-Added Tax Refund for Non-Resident Tourists) has been signed, according to a Philippine News Agency (PNA) news article. It should be noted that the Republic Act was signed into law last December.

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

Government officials signed on Monday the implementing rules and regulations (IRR) of Republic Act (RA) 12079 or the Value-Added Tax (VAT) Refund for Non-Resident Tourists.

In a statement, the Department of Finance (DOF) said the IRR was signed by Secretary Ralph Recto, Bureau of Customs Commissioner Bienvenido Rubio and Bureau of Internal Revenue Deputy Commissioner Marissa Cabreros.

It was witnessed by Department of Tourism Secretary Christina Garcia-Frasco and Office of the Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go.

RA 12079 aims to boost tourism and encourage more foreign tourists to shop and spend more in the Philippines, thereby bolstering economic growth.

Under the IRR, non-resident tourists or foreign passport holders may apply for a VAT refund for locally purchased goods from accredited stores that are equivalent to at least PHP3,000.

The goods must be physically taken out of the Philippines by the tourist as accompanied baggage within 60 days from the date of purchase.

The VAT refund applies only to retail and tangible goods, such as clothing, apparel, electronics, gadgets, jewelry, accessories, souvenirs, food or non-food consumables, and other goods intended for personal use.

“With a multiplier effect of 1.97, every 100 pesos spent by a tourist generates 197 pesos in economic output. Imagine that. Halos doble ang balik sa ekonomiya (The return to the economy is almost double),” Recto said.

“And more money spent by foreign tourists means more businesses created, more Filipino workers hired, more jobs provided, higher incomes for our people and more revenues for the government to collect. That’s the simple formula for growth,” he added.

Recto cited the importance of effective executive to unlock the law’s full potential.

He said the country must establish a fully functional VAT refund system and a surge in inbound tourism.

“We want more tourists to come — and we want them to stay longer, spend bigger, and transact with convenience,” he said.

Heeding President Ferdinand R. Marcos Jr.’s call, Recto vowed to ensure that the VAT refund process is simple, accessible and culturally inclusive.

“From our end at the Department of Finance, we aim to deliver a VAT refund system that is world-class, modern, and built on the principles of transparency, efficiency and ease,” he said.

The IRR mandates the DOF to engage the services of reputable and internationally recognized VAT refund operators to provide end-to-end solutions to the government. Such refunds may be made electronically or in cash to enhance the ease of doing business.

Let me end this post by asking you readers: What is your reaction to this recent development? Now the IRR of the VAT refund for foreign tourists has officially been signed, do you expect positive impact on Philippine tourism to happen this year? Do you think a lot of tourists overseas have been waiting for the Philippines to establish the VAT refund for foreign tourists?

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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Almost 700 residents of Barangay Pilar served by Las Piñas City’s Health and Wellness Caravan

March 31, 2025March 23, 2025carlocarrasco

Recently in the City of Las Piñas, around seven hundred residents of Barangay Pilar availed of varied health services when the Health and Wellness Caravan was held in their local community, the City Government announced via social media. Vice Mayor April Aguilar attended the activity.

To put things in perspective, posted below is an excerpt from the social media post of the City Government. Some parts in boldface…

Another successful Health and Wellness Caravan was conducted by the City Health Office at the Aguilar Sports Complex in Pilar on Thursday, March 14, serving nearly 700 residents. The initiative, part of the city’s continuous efforts to deliver accessible healthcare services to Las Piñeros, was attended by Vice Mayor April Aguilar, who personally oversaw the event.

The caravan provided several free medical services, including general medical consultations, vital signs assessment, dental services, ECG, X-ray, laboratory testing, nutrition counseling, Green Card registration and assistance, mobile birth registration, distribution of free medicines, vaccination for senior citizens, and therapeutic massage sessions.

Vice Mayor April Aguilar expressed her gratitude for the continuous support from the community, emphasizing the city’s commitment to ensuring that accessible and comprehensive healthcare services reach every Las Piñas resident.

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? Has the City Government organized the Health and Wellness Caravan in your local community lately?

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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Six foreigners and local bodyguard arrested in Subic for alleged spying operations

March 30, 2025March 26, 2025carlocarrasco

Recently, elements of the National Bureau of Investigation (NBI) apprehended six foreigners and their local bodyguard in Subic, Zambales, for allegedly conducting surveillance and reconnaissance activities, according to a Philippine News Agency (PNA) news article. The foreign suspects were all from China and several pieces of evidence were collected by the law enforcers.

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

Authorities have arrested six foreign nationals and their Filipino bodyguard suspected of engaging in intelligence, surveillance and reconnaissance (ISR) operations in Grande Island in Subic, Zambales.

In a press briefing on Wednesday, NBI officials led by spokesperson Ferdinand Lavin presented to the media the six Chinese suspects as well as the equipment recovered from them.

They were identified as He Peng, alias Nan Ke; Xu Xining; Ye Tianwu, alias Qui Feng/Quing Fe; Ye XIaocan; Dick Ang; and Su Anlong.

The NBI said its Cybercrime Division received a letter on March 17 from the Armed Forces of the Philippines Military Intelligence Unit regarding foreign nationals suspected of carrying out covert ISR operations on critical infrastructures within Central Luzon.

“Notably, Grande Island, located within Subic Bay approximately 56 kilometers north of Manila Bay, has attracted attention as foreign nationals have reportedly been conducting surveillance activities there. Intelligence report from the AFP revealed that six individuals on the island were closely monitored for engaging in deemed suspicious activities, involving a collection of sensitive data related to ‘Critical Infrastructure’ or data affecting national defense within the area,” the NBI said in a statement.

The NBI said the individuals were occupying the island under the guise of recreational fishers, frequently lingering at the wharves.

Witnesses reported that the group was using hi-tech drones in the guise of transporting fishing bait to conduct surveillance on naval assets, including those from local forces and allied nations, passing through Grande Island.

“Due to its contiguity and strategic location, the island allows the group to monitor naval assets entering and exiting Subic Bay during maritime patrols or joint naval exercises in the West Philippine Sea,” the NBI said.

On March 19, NBI agents led by Director Jaime Santiago, together with the AFP Intelligence Units and SBMA law enforcers, arrived at the target location to implement the warrant of arrest and carry out a hot pursuit operation which also yielded photographs and documents of Philippine and US naval assets.

Electronic gadgets containing surveillance photos and videos were also seized together with fake documents and identification cards.

Their Filipino bodyguard, Melvin Aguillon, was also arrested for possession of an unregistered firearm.

On March 21, the arrested suspects were presented for inquest proceeding before the Office of the Provincial Prosecutor, Bataan for violations of Commonwealth Act No. 616 (Espionage Law); Articles 172 (Falsification by Private Individuals and Use of Falsified Documents) and 178 (Using Fictitious Name and Concealing True Name) of the Revised Penal Code; Republic Act (RA) No. 10591 (Comprehensive Firearms and Ammunition Regulation Act); and the election gun ban.

Let me end this post by asking you readers: What is your reaction to this recent development? Were you surprised that the foreign suspects were Chinese nationals?

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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