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Las Piñas Congressman Points To Construction Firm Of Former City Councilor Over Multiple Public Works Contracts Worth Billions

November 28, 2025November 21, 2025carlocarrasco

Recently Las Piñas City’s congressman Mark Santos pointed to the construction firm of former city councilor and mayoral candidate Carlo Aguilar having cornered multiple public works contracts worth several billions of Pesos since 2016, according to a Malaya Business Insight news report.

For the newcomers reading this, former councilor Aguilar is the cousin of Senator Mark Villar who himself took office as secretary of the Department of Public Works and Highways (DPWH) in 2016 during the administration of then Philippine President Rodrigo Duterte. During the 2025 National and Local Elections, Aguilar ran for mayor under the banner of the Villar political family but lost to then Vice Mayor April Aguilar.

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

LAS Piñas Rep. Mark Anthony Santos yesterday said a construction firm of Carlo Aguilar cornered 161 public works contracts worth billions since 2016, the same year that his cousin Sen. Mark Villar was appointed as secretary of the Department of Public Works and Highways (DPWH) by then President Rodrigo Duterte.

“The scale, frequency, and consistency of these awarding raise serious red flags that warrant immediate scrutiny,” he said in a statement, adding there is a “deeply alarming pattern” in national infrastructure spending.

The Villar family was linked to the flood control controversy after Ombudsman Jesus Crispin Remulla said Aguilar’s I&E Construction was awarded P18.5 billion worth of flood control and infrastructure projects during his tenure as public works secretary under the Duterte administration.

Santos said according to official documents he has obtained, I&E Construction Corp. secured multiple projects in Las Piñas starting in 2016, including the construction and rehabilitation of a flood control structure along the Alabang–Zapote Road, worth P6.9 billion.

In the same year, he said, the DPWH awarded a P64.5-million contract to I&E for the construction of a slope protection structure along Naga Creek, also in Las Piñas.

In total, Santos said, I&E bagged 13 public works contracts that year, the same year that Villar was appointed as DPWH head.

“There are so many projects, it’s one after the other, worth billions. These projects didn’t just fall from the sky. The public deserves full transparency on how and why a single family-linked contractor repeatedly secured massive government contracts,” he said in mixed Filipino and English.

He urged the Office of the Ombudsman, the Commission on Audit (COA) Congress to look into “potential conflicts of interest, preferential treatment or violations of procurement laws.”

He also called on the DPWH to release all documents related to bidding, awards, and implementation of the 161 projects to ensure full transparency.

Santos cited the testimony of former public works undersecretary Roberto Bernardo before the Senate Blue Ribbon Committee that commissions from approved DPWH projects were divided among officials: half to Aguilar and the remaining half was split between former undersecretary Maria Cabral and Bernardo, himself.

Santos said that in 2017, I&E secured six government infrastructure projects, including the P62.9-million construction of slope protection and other improvements at Talon Creek (from CAA Bridge to Talon Bridge).

Santos said the following year, I&E “captured” 12 multi-million-peso DPWH projects at a time when Mark’s mother, Cynthia, was an incumbent senator and his sister Camille was the lone representative of Las Piñas.

He said documents would show that the largest project that year was the construction of slope protection, including a box culvert and the removal of informal settlers, amounting to P120.7 million.

Santos said all 12 projects were implemented in Las Piñas “along routes leading to malls, subdivisions, and other business interests of the Villar family.”

In 2019, I&E got 14 additional government projects, including the P96.4 million for a flood control structure along the Las Piñas River and its tributaries and two major projects in Mariveles, Bataan: the P94-million road leading to tourism port facilities at the Freeport Area, and the P114.2-million network development program for the Bagac–Mariveles Road.

Santos, who noted that the Villar family has roots in Bataan, said Aguilar’s firm secured 10 government projects in 2020, including various local infrastructure improvements totaling P144.7 million, and the P96.5-million construction of port facilities in Mariveles.

The following year, he said, I&E was awarded 15 projects. Even after Villar resigned as DPWH secretary in October 2021 to run for senator, I&E “continued to secure contracts, cornering 22 projects in 2022, including the ₱144.7-million Laguna Lake Highway Extension (Phase 3), and the ₱289.301-million General Nakar–Dingalan Road, Package A in Quezon province,” Santos said.

This year, Santos said, the construction firm was awarded 17 government infrastructure projects, even as President Ferdinand Marcos Jr. has ordered for a thorough investigation into the scam.

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 congressman Santos’ quest for truth behind the many projects involving I&E Construction will lead to a full investigation by the national 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.

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President Marcos Calls On HSBC To Help investors See Economic Opportunities In The Philippines

November 27, 2025November 19, 2025carlocarrasco

As the signs are clear that economic growth of the Philippines has weakened, President Marcos called on financial giant HSBC to help foreign investors realize the economic opportunities in the country, according to a Philippine News Agency (PNA) news article.

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

President Ferdinand R. Marcos Jr. has called on international bank HSBC to help more foreign investors see the huge economic opportunities the Philippines has to offer.

“Together let’s build a more progressive Philippine economy, where people can access reliable financial services, obtain meaningful opportunities, and live more dignified, comfortable lives,” he said in a speech at HSBC’s 150th year anniversary gala in Taguig City on Tuesday night.

“Let us continue creating an environment where investors, stakeholders, and most importantly, our citizens see the Philippines as a nation of promise,” he added.

He acknowledged the foreign bank’s support for government initiatives, including its participation in recent bond issuances such as the SEC-registered USD3.3 billion-equivalent dual currency global bond that aims to ensure the continuation of vital government programs.

“These programs, whether on infrastructure, education, or social protection, directly benefit our people, especially those who rely on stable public services,” he said.

He also cited HSBC’s strong collaboration with relevant economic agencies and its contribution to increasing the country’s exposure to foreign investors.

From its first branch in Binondo in 1875, Marcos said HSBC’s growing presence in the Philippines serves as a vote of confidence in the future of the Philippines.

On the part of the government, he said the administration continues to strengthen its financial systems to protect depositors.

The Bangko Sentral ng Pilipinas, he added, is refining capital, liquidity, and governance standards to ensure that banks are resilient.

The country, he said, also adopts reforms such as the Basel III New Standardized Approach, the National Risk Assessment, and clearer guidelines for the disqualification of erring officers.

“Today, as HSBC adapts to a rapidly changing economy, we are confident that the bank will remain true to its commitment to making its services more inclusive, more secure, and accessible to Filipinos,” the chief executive said.

HSBC, the leading international bank in the country, serves 41 million clients across 57 markets, with over USD3 trillion in assets.

In his remarks, HSBC Interim Group Chairman Brendan Nelson said the firm has “strong” confidence in the Philippines and is ready to work with the country to sustain its growth momentum.

He said HSBC is “determined to continue growing” in the Philippines as he noted its strategic position in Southeast Asia, one of the regions, he noted, is set to benefit most from the “configured globalized world.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think economic growth of the Philippines will get stronger in 2026? Do you think foreign investors will take a new look at the Philippines for economic opportunities soon?

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

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Philippines At Risk Of Falling Behind Southeast Asian Neighbors Economically

November 26, 2025November 19, 2025carlocarrasco

The 3^rd quarter growth of only 4% the Philippines achieved has been on people’s minds a lot lately. As such, the country is at risk of falling behind its neighbors in Southeast Asia in terms of economic growth and gross domestic product (GDP) per capita, 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 Philippine economy is at risk of further falling behind its Southeast Asian neighbors, an economist said, noting it may take two years to catch up with Vietnam and up to 70 years to catch up with Singapore.

“(T)he Philippines could find itself lagging behind if alleged public spending issues continue to divert attention and resources away from the structural reforms needed to accelerate economic development,” Bank of the Philippine Islands (BPI) Lead Economist Emilio S. Neri, Jr. said in a commentary on Wednesday.

In the third quarter, Philippine gross domestic product (GDP) grew by 4%, its slowest pace in over four years amid slower household and public infrastructure spending as the flood control scandal dampened investor and con-sumer sentiment.

In the nine months to September, GDP growth averaged 5%, putting the government’s 5.5%-6.5% full-year growth target further out of reach.

“The Philippine economy is growing, but not enough to close the economic gap with other countries,” Mr. Neri said.

He noted the Philippine GDP per capita is lower compared with other economies in the region. Citing International Monetary Fund (IMF) data, he said the Philippines’ GDP per capita stood at $4,078 in 2024.

“At the current growth rate, it would take the Philippines two years to catch up with the GDP per capita of Vietnam, 4 years with Indonesia, 14 years with Thailand, 26 years with Malaysia, and 70 years with Singapore, assuming their incomes remain stagnant. In reality, their GDP per capita continues to grow, which means the gap could persist or even widen,” Mr. Neri said.

The Philippines lagged behind Singapore which had a GDP per capita of $90,674 in 2024, followed by South Korea ($36,128), Japan ($32,498), China ($13,312), Malaysia ($12,540), Thailand ($7,491), Indonesia ($4,958) and Vietnam ($4,535).

“Before the pandemic, the Philippines had a higher GDP per capita than Vietnam, but has since been overtaken. At current trends, it would take the Philippines two years to catch up with Vietnam, but that gap could increase to 13 years by 2044,” Mr. Neri said.

The BPI economist said the Philippines needs structural reforms to accelerate growth in order to close the widening gap with its neighbors.

“The current economic model of the country is not enough, as shown by the country’s inability to grow faster than 6% in recent years,” he said.

Mr. Neri said the economy has been “too reliant” on consumer spending, driven by overseas Filipino worker (OFW) remittances and the business process outsourcing industry.

“There is a need to diversify its sources of growth. The economy must improve in terms of production, especially in agriculture and manufacturing, as they will allow the economy to be more self-sufficient and to reach foreign markets. These industries have been critical to Vietnam’s success and could play a similar role for the Philippines,” he said.

However, Mr. Neri said implementing these reforms will be hard if the government lacks focus.

“Public spending issues divert fiscal resources and policymaking focus away from long-term development priorities. Efforts to strengthen safeguards against potential issues in government spending are essential, enabling the country to work on structural reforms that could improve the economy,” he said.

Let me end this post by asking you readers: What is your reaction to this recent development? What do you think should the government do to accelerate economic growth?

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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Trump To Officially Declare The Muslim Brotherhood A Terrorist Organization

November 25, 2025November 24, 2025carlocarrasco

In a new move against worldly evil and Islamic terrorism, United States President Donald Trump revealed his intention to officially declare the Muslim Brotherhood a terrorist organization and already the final documents are being prepared behind the scenes, according to a news report by Newsmax.

For starters, watch below the related news video from Sky News Australia.

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

President Donald Trump told Just The News on Sunday that he will designate the Muslim Brotherhood as a foreign terrorist organization.

Trump said “final documents are being drawn” and that “it will be done in the strongest and most powerful terms.“

Trump has weighed such a move since his first administration. The Muslim Brotherhood — an Islamist movement founded in Egypt almost a century ago with chapters, political parties, and affiliated groups around the world — has long been accused by critics of fueling extremism and destabilizing the Middle East.

Israeli Prime Minister Benjamin Netanyahu thanked Trump for his plans to designate the Muslim Brotherhood as a terror group, The Jerusalem Post reported.

“I commend President Trump for outlawing the Muslim Brotherhood,” he said. “This is an organization that endangers stability in the Middle East and beyond. That is why the State of Israel has outlawed parts of the organization and will continue to do so.“

Last week, Texas Gov. Greg Abbott designated both the Muslim Brotherhood and the Council on American-Islamic Relations (CAIR) as “foreign terrorist organizations and transnational criminal organizations,” according to Just The News.

Republicans in the House and the Senate, as well as some Democrats, have urged the State Department to designate the Muslim Brotherhood as a foreign terrorist organization.

Let me end this piece by asking you readers: What is your reaction to this development? Do you support Trump’s move to officially declare the Muslim Brotherhood a terrorist organization? Are you aware of the Muslim-majority nations that officially opposed the Muslim Brotherhood? Were there Islamists who intimidated you or invaded your local community over the past six months?

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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Business Groups Reaffirm Commitment To National Economy

November 25, 2025November 18, 2025carlocarrasco

With the weakening economic growth and growing socio-economic uncertainty affecting the entire Philippines, prominent business groups reaffirmed their commitment to invest and create jobs in the country, according to a Manila Bulletin news report.

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

Six prominent groups representing the business sector reaffirmed their commitment to invest and create jobs in the Philippines amid weakening sentiment in the economy, which is fueled by what they described as a “political turmoil” stemming from the ongoing corruption scandal.

In a rare joint statement sent to the media moments after a pivotal reshuffle in the administration’s economic team, the business groups emphasized that they remain committed to supporting the Philippine economy.

“While the current political turmoil raises understandable concerns, we stress that the country’s long-term fundamentals remain strong; anchored by a well-regulated financial system, a stable banking sector, and companies that continue to invest in and believe in the Philippines,” the groups said on Monday, Nov. 17.

The statement was signed by Makati Business Club (MBC), Management Association of the Philippines (MAP), Philippine Chamber of Commerce and Industry (PCCI), Financial Executives Institute of the Philippines (FINEX), Philippine Finance Association, and Institute of Corporate Directors (ICD).

In a statement that essentially serves as a pitch to potential investors, the six business groups said that the institutions safeguarding local markets “continue to operate independently and rigorously.”

The groups cited the Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) as among the most reliable government partners when it comes to businesses.

Both the BSP and the SEC uphold regulatory frameworks aligned with global standards, ultimately ensuring market integrity, prudent risk management, and strong investor protection, they said.

“The Philippines continues to meet international benchmarks on capital adequacy, disclosure requirements, and corporate governance,” the groups said.

The business groups also took note of the corporate earnings of publicly listed companies, which reflect the economy’s underlying strength.

They noted that even during periods of global instability, such as the Covid-19 pandemic, companies continued to demonstrate resilience with growing revenues and stable margins.

Further, the groups said that investment sentiment in the country remains robust, with gross fixed capital formation ranging between 22 percent and 27 percent of gross domestic product (GDP) over the last 10 years.

“This ongoing level of capital spending, mainly driven by business growth, clearly indicates that Philippine companies continue to build capacity, expand operations, and invest in the country’s long-term prospects,” the statement read.

While upholding optimism, the six business groups stressed that investor confidence is influenced not only by economic fundamentals but also by governance.

Let me end this post by asking you readers: What is your reaction to this recent development? Does the joint statement of the prominent business group boost your confidence about the future of the country? Do you think the Philippine economy will be able to bounce back strongly next year? Does the continuing media coverage of the flood control corruption scandals and investigations continue to bother you?

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

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Get To Know The Las Piñas Persons with Disability Federation Inc. (LPPWDFI)

November 25, 2025November 23, 2025carlocarrasco

If you are a person with disability (PWD) living in Las Piñas City, be aware that there is an organization that is reaching out to you as it is active in empowering persons with disability through advocacy, developmental programs and organizing projects. That organization is the Las Piñas Persons with Disability Federation Inc. (LPPWDFI).

LPPWDFI’s Objectives

The LPPWDFI aims to know the status of persons with disabilities in your local area. They will use the results of the data to provide evidence for policy advocacy, program development, and disability inclusive budgeting at the barangay and city and municipal level.

The federation develops programs and projects appropriate to the needs and rights of the PWDs. The skills of the federation will be strengthened through the collective experience in data generation, analysis and advocacy which will strengthen the organizations.

Background of the LPPWDFI

In 2013, the federation implemented the profiling of persons with disabilities in partnerhship with the Department of Social Welfare and Development (DSWD) in the National Capital Region (NCR). The project revolved around participatory research wherein PWDs were the main actors from planning, execution, to analysis of the research.

There were two fundamental gains:

1. The collective experience contributed to strengthening the federation at the village associations and Federal level.

2. The data generated provided strong evidence for policy and program development at the village and city level. Building up on this gain, the profiling was expanded and has been updated in 2021-2022 as a component of cbm global philippines’ “Capacity Building of OPDs for the Effective Participation of Persons With Disabilities in Governance” project funded by CBM Australia.

For more than a decade now, the Las Piñas Persons with Disability Federation Inc. has been active in representing the interests of PWDs in the city and they backed it up with action through the organizing of activities, projects and conferences. In 2015, the LPPWDFI was awarded as PWD Group of the Year by the Philippine Foundation for the Rehabilitation of the Disabled, Inc. (PFRD) through the Apolinario Mabini Awards Committee.

In 2019, the federation was awarded as the Best Local Federation during the 1^st Dangal Ng Mga Taong May Kapansanan Awards.

To get connected with the Las Piñas Persons with Disability Federation Inc. (LPPWDFI) through social media, click https://www.facebook.com/laspinaspwds. To contact them, send an email to laspinaspwdfederation@gmail.com or contact them by mobile phone at 0922-620-5846.

*The office of the LPPWDFI is inside the Senior Citizens Center along Myrna Panlilio Street, Heritage Homes in Las Piñas City*

To visit the LPPWDFI office, go to the Senior Citizen Center, Myrna Panlilio Street, Heritage Homes, BF Resort Village, Las Piñas City. Google Map location: https://maps.app.goo.gl/a4U4wTV524SagqPm9

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Truancy Goes Up In Japan Again

November 24, 2025November 12, 2025carlocarrasco

Truancy – the action of staying away from school without good reason – went up again in Japan as confirmed by a government survey, according to a news article by Nippon.com. This problem has been going on for more than a decade now and it should spark discussions about what it would take to keep more students attend their classes with the future in mind.

To put things in perspective, posted below is an excerpt from Nippon.com article. Some parts in boldface…

Ongoing Rise in Nonattendance – A survey on problematic behavior and nonattendance of schoolchildren by Japan’s Ministry of Education, Culture, Sports, Science, and Technology found that a record 353,970 students refused to attend school for 30 days or more during the 2024 school year. This was an increase of 7,488, or 2.2%, from the previous year and marked the twelfth consecutive annual rise. Compared to a decade earlier, nonattendance has risen 5.5-fold for elementary school students and 2.2-fold for junior high school students.

Looking at nonattendance by education level, there were 137,704 elementary school students (up 5.6% from the previous year) and 216,266 junior high school students (up 0.1%), which accounted for 3.9% of enrolled students.

The most common causes schools found for nonattendance were “lack of motivation,” at 30.1%, followed by “breakdown in routines” (25.0%), “anxiety or depression” (24.3%), “poor academic performance and regular failure to submit homework” (15.6%), and “friendship issues other than bullying” (13.2%).

The disruption to routines during the COVID-19 pandemic is thought to have lowered the barrier to nonattendance, while parents and guardians have also become more open to it as a necessary form of recuperation.

The Nippon.com article includes graphs for visual references. I encourage you to visit the article by clicking https://www.nippon.com/en/japan-data/h02594/

This development reminds me of a particular quote by the late Ray Walston as teacher Mr. Hand in the 1982 film Fast Times at Ridgemont High. The words were as follows:

What is this fascination with truancy? What is it that gets inside your heads? There are some teachers in this school who look the other way at truants. It’s a little game that you both play. They pretend they don’t see you. You pretend you don’t ditch! Now, who pays the price later? You!

Let me end this piece by asking you readers: What is your reaction to this development? Is truancy/absenteeism a huge problem in your local community or in your city right now? If you are a parent who plans to migrate to Japan soon, do you intend to have your child enrolled in schools there? Do you think the long-term trend of absenteeism in Japan will be reversed in the near future?

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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New Learning Spaces Unveiled by Southville International School and Colleges

November 23, 2025November 21, 2025carlocarrasco

As it celebrates its 35^th year of delivering quality international education this year, Southville International School and Colleges (SISC) officially launched its newest learning spaces this past Friday at its campus in BF International, Las Piñas City.

At the ribbon-cutting ceremony were (from L to R) Dr. Jocelyn P. Tizon (SISC President), Dr. Melva Diamante (SISFU Chairman), Dr. Ma. Felma C. Tria (Government Academe Industry Network Director), Dr. Gloria Baken Wong-Siy (Founding President and President Emeritus of the Association of Administrators in Hotel and Restaurant Management Education Institutions) and Dr. Genevieve Ledesma-Laurel (Chief Executive Mentor and Founder of the Southville Global Education Network).

*The Southville executives, department heads, educators and guests engage in a prayer to the Lord at the ground floor.*

After the first ribbon cutting and prayer at the ground floor, SISC executives, department heads, educators, corporate partners and others guests proceeded to the brand new learning facilities of the Premier Psychology and Mental Wellness Hub at the 5^th floor which include a SPED Laboratory, an Accreditation Center and other modern rooms.

*Inside the SPED Laboratory of the Premier Psychology and Mental Wellness Hub at the 5th floor*.

*Group photo at the Premier Psychology and Mental Wellness Hub*.

At the lower ground floor was the brand new Digilab which is a modern digital workspace equipped with industry-grade tools for programming, data analytics and tech innovation. The Digilab was designed to empower students to bring digital ideas to life and it will be SISC’s place of developing computer engineers and tech developers in the years to come.

*Inside the band new and high-tech Digilab which will be the place of training for the next generation of tech developers and computer engineers.*

At the building of Southville International School affiliated with Foreign Universities (SISFU) is the Monarchs Hub which is a dynamic multi-functional space that integrates nursing, simulation labs, research areas, and collaborative learning zones. The Monarchs Hub also function well as a theater-type venue for special presentations, speaking events and seminars. It was designed to serve also as a training ground for future healthcare professionals, offering hands-on experience through high-fidelity mannequins and clinical equipment.

*A view of the Monarchs Hub which has many comfortable seats and high-tech equipment ideal for presentations and training.*

A special program and presentation was held at the Monarchs Hub were the SISC executives, department heads, educators, students, corporate partners and guests gathered. Through the speeches delivered and videos shown to the audience, SISC emphasized its legacy of high quality education with a global concept and its long-term mission to innovate, to develop globally competitive students and create the next generation of leaders.

*Chairperson for Psychology Diane Imperio delivered her remarks during the presentation at the Monarchs Hubs.*

The new learning spaces at Southville reflect the institution’s drive for modernizing learning and developing skills with a progressive future in mind. Each visit to the new facilities had its own ribbon cutting and blessing done by a priest.

To learn more about Southville International School and Colleges, visit https://www.southville.edu.ph/ or contact them at landline numbers 8825-6374, and 8820-8702 to 03. To visit the institution, go to 1281 Tropical Ave. corner Luxembourg St., BF Homes International, Las Pinas City.

About SISC

*The Southville executives, department heads and educators.*

Southville International School and Colleges (SISC) is officially recognized as an educational institution of international character by Republic Act (R.A.) No. 9493, and the only international school in the Philippines offering a complete array of educational programs. Propelled by its main thrust of providing the highest quality standards of education to learners, SISC keeps in constant pursuit of excellence in instructional-related matters, research, and community services. SISC delivers excellent grade school, high school, IB, and college education and is one of the leaders in the Philippines.

Among the many reasons why students choose to study in SISC besides its complete educational offerings are its internationally-benchmarked curricula and learner needs-responsive programs that facilitate the students’ adjustment to their new environment. In fact, students from non-English speaking countries in Asia choose to enroll in the International Baccalaureate Program of SISC not just because of the comparatively lower school fees but because it is managed by a team of competent educators who have been trained in various parts of the world to ensure that the culture of each person is kept in SISC’s community of cultural diversity while acquiring excellent academic education.

As one of the top international schools in Manila, SISC employs innovative and internationally-benchmarked curricular offerings in College taking into account crucial factors in the job market to prepare all types of learners of various nationalities and cultures for global competitiveness. The astute academic, and character-building programs at all levels including high school, grade school, and preschool make it facile for the students to successfully hurdle all school requirements including social and environmental adjustment anywhere in the world.

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BSP Warns Public About Text Hijacking

November 22, 2025November 21, 2025carlocarrasco

If you received a text message containing links, you better avoid clicking on those links as scammers have gotten more sophisticated with technology to steal money, access to personal accounts and personal data from victims through mobile communication. That being said, the Bangko Sentral ng Pilipinas (BSP) has warned the public about text hijacking, according to a 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 Bangko Sentral ng Pilipinas (BSP) warned the public on Friday that only scammers would send links through the short messaging system (SMS) or text message.

BSP, in a press release, said legitimate banks, e-money issuers, and other financial entities will not send links, even though the messages look like it came from these regulated institutions.

This scheme is called text hijacking that “involves scammers inserting fake messages into legitimate text threads to make them look authentic.”

“These messages often contain malicious links designed to steal access to victims’ financial accounts and are usually accompanied by urgent prompts such as notifications of expiring rewards, unauthorized transactions, or account verification requests to pressure recipients into clicking the link,” it said.

Reports about fraudulent text messages continue to rise, the BSP noted.

This, even as the central bank and other financial institutions have increased their education campaign aimed to inform the public about this scam.

The public is advised to avoid clicking links in text messages or e-mails even if they appear to come from banks or e-money issuers; enable multi-factor authentication to secure accounts and never share personal or financial details with anyone.

If the account has been compromised, contact the bank or e-money issuer through official channels: https://bit.ly/BSPScamAlert

Let me end this post by asking you readers: What is your reaction to this recent development? Where you ever a victim of text hijacking? What do you think government and financial institutions should do to find the scammers and have them all arrested?

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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Approved Foreign Investment Pledges Fall Down 48.7% In 3rd Quarter

November 21, 2025November 14, 2025carlocarrasco

The flood control corruption scandals connected with the weaker investor sentiment resulted in a 48.7% fall in foreign investment pledges during the 3^rd quarter this year, according a news report by BusinessWorld. It should be noted that Philippines GDP growth for the same quarter slowed down a lot.

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

APPROVED foreign investment pledges plunged nearly 50% in the third quarter as investor sentiment soured due to the corruption scandal involving government infrastructure projects, the local statistics agency said.

Preliminary data from the Philippine Statistics Authority (PSA) showed the value of foreign commitments approved by investment promotion agencies (IPAs) fell by 48.7% to P73.68 billion in the July-to-September period from P143.74 billion in same period last year.

However, this was the highest amount of investment pledges since the third quarter of 2024.

Ser Percival K. Peña-Reyes, director of the Ateneo Center for Economic Research and Development, said the decline in approved investments can be attributed to the weaker investor sentiment.

“Tingin ko. Wala pang nakukulong eh (I think so. No one has been imprisoned yet),” he said in a Viber message, when asked if this sharp slump in approved investments will likely persist in the fourth quarter until 2026.

Quarter on quarter, the approved pledges rose by 9.34% from P67.38 billion in the second quarter.

Singapore was the top source of foreign investment pledges in the third quarter with P20.26 billion (27.5%), followed by Japan with P13.59 billion (18.4%) and Cayman Islands with P13.14 billion (17.8%).

Investment commitments from South Korea stood at P5.57 billion (7.6%), while those from China stood at P4.51 billion (6.1%)

PSA data showed the investment pledges were approved by seven IPAs — the Authority of the Freeport Area of Bataan, Bases Conversion and Development Authority (BCDA), Board of Investments (BoI), Clark Development Corp., Clark International Airport Corp., Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority.

Let me end this post by asking you readers: What is your reaction to this recent development? What do you think the government must do to convince foreign investors to become more confident about investing in the Philippines? Do you think the investigation and pace of justice related to the flood control corruption scandal is moving too slowly?

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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