Subic Sun

L🇵🇭🇵🇭K:

SBMA Remits Php820-M to National Coffers

Manila, Philippines – The Subic Bay Metropolitan Authority (SBMA) turned over a total dividend of Php820 million during the recently held Government-Owned and Controlled Corporations (GOCC) Day at Heroes Hall, Malacañang Palace.

This milestone highlights the SBMA's unwavering commitment to contributing to national government revenues despite changes in taxation policies.

While the dividend remittance of the SBMA registered a substantial decrease compared to previous years, the agency noted a significant rise in income tax payments.

This development stems from the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law, which mandates a 25% income tax rate on SBMA's taxable income, in contrast to the 5% rate applicable prior to 2024.

The higher tax rate led to a substantial increase in income tax expense, with SBMA paying Php489 million in income tax for 2025, up from Php130 million in 2023.

The implementation of the CREATE law also reclassified many SBMA expenses as allowable deductions, resulting in a decrease in taxable income and consequently the dividend remittance.

Despite the lower dividend payments, the SBMA remains a vital contributor to the government's fiscal capacity, with total remittances (income tax and dividends combined) amounting to Php1.31 billion in 2025, maintaining its role as a dynamic agency in national development.

The SBMA chairman expressed confidence that with continued reforms and strategic initiatives, the authority will sustain its robust financial health while supporting government objectives. (30)

Cayetano urges fair questioning by senator-judges in VP Duterte impeachment trial

Senator-judge Alan Peter Cayetano urged his fellow senator-judges to avoid asking questions that could affect fairness on Vice President Sara Duterte’s impeachment trial, saying even well-intentioned questions may unintentionally influence the proceedings.

Cayetano made the remark after the impeachment court discussed Tuesday's exchange involving a question from Senator-judge Risa Hontiveros that prompted private prosecutor Amando Virgil Ligutan to deliver what some senator-judges described as a closing argument ahead of time.

To address the issue, Presiding Officer Francis Escudero allowed the defense to respond with the same amount of time given to the prosecution.

Cayetano said he accepts the presiding officer's ruling but stressed that similar questions should no longer be asked because they could give one side an advantage.

Throughout the first week of the impeachment trial, Cayetano consistently emphasized adherence to the Senate's rules and due process, saying these are essential to ensuring a fair and credible trial, a position he has vowed to uphold as the proceedings continue.

“Prudence dictates that we stop ourselves from asking certain questions that can prejudice the whole trial whether or not our intention is to do so,” he said.

Cayetano said the way a senator-judge frames a question could already favor either the prosecution or the defense.

He acknowledged that being a senator-judge comes with the reality that whatever they say during the proceedings could be viewed as lawyering for one side or the other.

What should be avoided, he stressed, are questions that could give either party an unfair advantage or affect the fairness of the trial.

As an example, he said it would also be unfair if a senator-judge asked the prosecution to explain why the impeachment case was merely a political vendetta or why Congress was investigating Vice President Duterte instead of flood control projects.

“When we ask the questions, we will make sure it doesn't prejudice the whole trial. Whatever we say here, there will be accusations of lawyering for the prosecution or defense, OK lang iyon,” he said.

He also urged the impeachment court to give both the prosecution and the defense enough room to present their positions as long as it does not affect the integrity of the proceedings.

“Let's give each other leeway, but only to the point that the trial will not disintegrate into a political fiasco or circus,” he said. # # #

1,100 NEW SCHOLARS JOIN SM FOUNDATION, LARGEST COLLEGE SCHOLARSHIP BATCH
IN PROGRAM HISTORY

PASAY CITY, Philippines, July 3, 2026, SM Foundation formally welcomed its largest-ever batch of 1,100 college scholars during its Scholarship Awarding Ceremony, strengthening its long-standing commitment to expanding access to higher education for deserving but financially challenged Filipino youth.

The 1,100 new scholars represent the largest batch accepted into the SM College Scholarship Program since its establishment, marking another milestone in the Foundation's efforts to make quality education more accessible to the Filipino youth. They join thousands of scholars from across the country who have pursued higher education through the program, many of whom have gone on to build meaningful careers and uplift their families and communities.

Established by SM founder Henry "Tatang" Sy Sr., the SM College Scholarship Program was created on the belief that education is one of the most effective ways to break the cycle of poverty and create opportunities for lasting social mobility. Beyond financial assistance, the program equips scholars with holistic support throughout their college journey, helping them develop the knowledge, values, and confidence needed to succeed.

The event also featured an interactive session that encouraged scholars to reflect on the challenges they may encounter throughout college and beyond. Through engaging discussions and shared experiences, they were reminded that setbacks are part of every journey and that resilience, adaptability, and a strong sense of purpose are essential in overcoming obstacles and achieving their goals.

Since its establishment, the SM College Scholarship Program has supported 7,376 scholars and produced 4,640 graduates. Each scholar represents a story of hope transformed into opportunity through education.

As the newest members of the SM scholar community begin their academic journey, they carry with them not only the support of SM Foundation but also the opportunity to create lasting impact in their families, communities, and the nation. (30)