Latest news with #P1
GMA Network
4 days ago
- Business
- GMA Network
BPI working toward blue bond issuance
Ayala-led Bank of the Philippine Islands (BPI) said Thursday it is looking to offer blue bonds, issuances designed to finance marine and ocean-based projects, with the lender seeking to hit P1 trillion worth of sustainability-linked loans by 2026. According to BPI chief finance officer and chief sustainability officer Eric Luchangco, the bank is now working on a blue bond framework which will specify that the proceeds will go to eligible uses. "Our goal is to finalize that framework within the year… I believe we'll be able to finalize the framework within the year. The timing of the issuance will be dependent on the funding requirement so I cannot specify at this time," he told reporters in Makati City. Blue finance will cover sustainable water management, sustainable management of waste and wastewater; sustainable shipping; marine transportation, and port logistics; marine renewable energy; sustainable fisheries; sustainable tourism services; and solid waste management, among others. Luchangco said the company aims to hit P1 trillion worth of sustainability-linked loans by 2026, a target the bank set in 2021. The bank ended the first quarter with close to P900 billion worth of such loans, equivalent to 39.13% of the P2.3 trillion total loan book during the period. "If it were to trend at its current trend, we would be able to achieve that objective, that P1-trillion objective. Of course, you know, we do have to see that pan out over the next year and a half, but I think we're confident that we remain committed in this journey and therefore we will be able to achieve this goal," he said. Aside from the P1-trillion target, Luchangco said BPI is also aiming to have half of its total loan book be sustainability linked by the end of 2026. "Our goal is that at least 50% of our book should be sustainability linked. P900 billion out of P2.3 trillion is not 50%, so there's still a bit of a way to go from that perspective that at least 50% should be sustainability linked, but the goal is that by the end of 2026, that's what we're shooting for. I'm not sure we're gonna get there, but that continues to be our goal," Luchangco said. "I think we'll achieve the P1 trillion earlier than expected. The 50% of total loan book, you know, between those two goals, I think that one will be the more challenging to achieve because the non-sustainability-linked side is also growing well," he added. BPI said its sustainable development finance (SDF) portfolio has so far covered 485 projects, including 177 in energy efficiency, 145 in renewable energy, 80 in climate resilience, 74 in sustainable agriculture, and six in sustainable water. The bank ended 2024 with a P958-billion sustainable development goal (SDG) portfolio—P409 billion on industry, innovation, and infrastructure; P192 billion to zero hunger; P128 billion to affordable and clean energy; P105 billion to decent work and economic growth; P58 billion to sustainable cities and communities; and P66 billion to others. Luchangco said BPI is also set to increase the size of its one-and-a-half-year peso-denominated Supporting Inclusion, Nature, and Growth (BPI SINAG) bonds, citing strong demand. "I think we haven't publicly disclosed the size, but it will definitely be larger than the initial disclosed offer which I believe was P5 billion, so I think the demand for this bond has been very, very strong. I'm happy to say that it's been very, very strong," he said. The issuance comprises the first tranche of a P200-billion bond and commercial paper program, carrying an interest rate of 5.85% per annum paid quarterly. The offer period was initially scheduled to close on May 30, but was cut short to May 26. Listing with the Philippine Dealing and Exchange Corp. will push through as scheduled on June 10, 2025. — VDV, GMA Integrated News
GMA Network
5 days ago
- Business
- GMA Network
PEZA announces P1.39B dividend payout
The Philippine Economic Zone Authority (PEZA) announced Wednesday that it contributed P1.3 billion in dividends from its profits in 2024, noting its back-to-back billion-contribution to government coffers. 'As we turn 30, we are focused on future-proofing PEZA to ensure it remains a dynamic force for economic development and nation-building,' PEZA Director General Tereso O. Panga said in a statement. PEZA noted that it has already contributed P3.68 billion to the government since the start of President Ferdinand Marcos Jr's administration. The Department of Finance (DOF) earlier said the dividend remittances from the earnings of government-owned or -controlled corporations (GOCCs) have reached over P76 billion as of May 15, 2025. PEZA was also among the 13 state-owned firms that contributed at least P1 billion to state coffers. —Mariel Celine Serquiña/RF, GMA Integrated News
GMA Network
6 days ago
- GMA Network
Over P1B worth of ‘shabu' found in Pampanga house
More than P1 billion worth of suspected shabu was discovered during a search in a house in Angeles City, Pampanga on Monday, the Philippine Drug Enforcement Agency (PDEA) said on Tuesday. In a statement, PDEA said authorities implemented a search warrant on a house at a subdivision in Barangay Pampang against a Chinese national. PDEA director general Undersecretary Isagani Nerez said that the illegal drugs were placed inside 155 transparent plastic bags with around one kilogram each, amounting to P1,054,000,000. 'However, the house turned out to be abandoned. The subject of the search warrant, a Chinese national, was nowhere in sight and remains at-large,' the PDEA said. The subject of the search warrant will be facing charges for possession of illegal drugs under the Comprehensive Dangerous Drugs Act of 2002. According to PDEA, the search was linked to the operation less than two weeks ago in Angeles City, where more than 35 kilograms of shabu were seized and a Chinese national and his Filipina cohort were nabbed. 'The two drug operations mentioned are linked to each other. What you see is the outcome of persistent tracking of previous operations targeting individuals connected to syndicated drug trafficking to include their sources,' Undersecretary Nerez said. 'While PDEA prioritizes the conduct of high-impact operations resulting in the arrests of high-value drug personalities and high-volume drug seizures, it is at the grassroots level where most of the drugs are sold and abused. We will not relinquish our thrust to go after small-scale drug dealers in communities as ordered by His Excellency Ferdinand R Marcos, Jr.,' he added. —VAL/ GMA Integrated News
GMA Network
7 days ago
- Politics
- GMA Network
Fun run for West PH Sea set for July 27 at Quirino Grandstand
National Security Council Assistant Director General Jonathan Malaya (center) and Philippine Coast Guard spokesperson Commodore Jay Tarriela (second from right) pose during the event announcing the fun run, on Monday, May 26, 2025. Joviland Rita/GMA Integrated News A fun run that will benefit an awareness campaign about the West Philippine Sea will be held at the Quirino Grandstand in Manila on July 27, 2025, its organizer Runrio Inc. said on Monday. 'We believe that running is a powerful platform to encourage and promote community spirit and national unity. Our aim really is to encourage public support and create awareness about the importance of safeguarding our maritime rights and resources,' Runrio general manager Andrew Neri said in a press conference. 'This is also in parallel to or in support of the national government's transparency strategy to combat misinformation, disinformation, and of course, information manipulation,' he added. Last year, the first fun run for the WPS attracted around 7,000 participants. 'The proceeds of this race will be used for the educational campaign, particularly for us to produce more of the comic books which is entitled Mga Kwento ni Teacher Jun that tackles key issues of the West Philippine Sea,' Neri said. Neri said there will be three categories for the fun run: 10, five, and three kilometers. For the early bird registrants, the prices will be up to P1,900 only until June 16. Among the partner agencies for the fun run are the National Task Force for West Philippine Sea (NTF WPS), Philippine Coast Guard (PCG), Philippine Information Agency (PIA), and the National Youth Commission. Tensions continue as Beijing claims almost all of the South China Sea, a conduit for more than $3 trillion of annual shipborne commerce, including parts claimed by the Philippines, Vietnam, Indonesia, Malaysia, and Brunei. Parts of the South China Sea that fall within Philippine territory have been renamed by the government as West Philippine Sea to reinforce the country's claim. The West Philippine Sea refers to the maritime areas on the western side of the Philippine archipelago including Luzon Sea and the waters around, within and adjacent to the Kalayaan Island Group and Bajo de Masinloc. In 2016, the Permanent Court of Arbitration in the Hague ruled in favor of the Philippines over China's claims in the South China Sea, saying that it had "no legal basis." China has refused to recognize the decision. — BM, GMA Integrated News
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GMA Network
26-05-2025
- Health
- GMA Network
Skip the run: Get your steps in at this indoor mall walkathon in June
Let's face it: running may be having a moment in the fitness world, but it's not for everyone. If you prefer a more relaxed way to stay active without the sweat and speed, this unique wellness event might be just what you need. On June 7 at 8 a.m., Shangri-La Plaza in Mandaluyong is holding walkathon gathering, an indoor event where participants will need to complete a certain number of steps within the comfort of the mall. Participants may choose between 3,000 steps or 5,000 and the feed is priced at P1,000 for both, and already includes a singlet, event bib, event map, drawstring bag, finisher medal, and a raffle stub. The online registration is open until May 30. Walking is one of the most accessible forms of exercise. It doesn't require any fancy equipment or special training. According to Dr. Joy Sy, a board-certified physician at Cardinal Santos Medical Center, walking 10,000 steps a day can significantly improve overall health and support weight loss. — Hermes Joy Tunac/LA, GMA Integrated News
