BIZ BUZZ: The ‘boy’ is back

Telco veteran Anastacio “Boy” Martirez has made his comeback to the PLDT Group—after nearly two decades—as the new chief operating officer of Smart Communications Inc., sources told Biz Buzz. He started work just this Monday, we heard.

He previously served as personal communications and mobile services division head for Smart before he left following a management feud.

READ: BIZ BUZZ: Front-runners to be next PLDT CEO

Smart Padala, or the first ever text-based money remittance, was one of the groundbreaking products the telco player offered during his time.

While this is an exciting development for PLDT, others might still wonder when tycoon Manuel Pangilinan will name his successor at the group. To recall, former top executive Al Panlilio vacated his post last year—and the billionaire has taken over since.

Now, the question is: When will Pangilinan name a new CEO for PLDT? Will he or she also be a familiar name? Let’s see! — Tyrone Jasper C. Piad

Pascual joins BDO

Many have been wondering what Alfredo Pascual’s life would be like after leaving his post as head of the Department of Trade and Industry (DTI).

Well, exactly a month after his resignation became effective, Sy family-led BDO Unibank Inc. gave us an answer.

In a stock exchange filing on Monday, BDO announced that Pascual has joined the country’s largest bank as an independent director.

READ: Pascual quits as DTI chief, returning to private sector

The 76-year-old Pascual was the third Cabinet official under President Ferdinand Marcos Jr. to make his exit this year, with speculations about his resignation beginning as early as December 2023.

Pascual said in a previous statement that he had opted to leave the DTI to return to the private sector, and described his brief stint as trade secretary as “one of the most fulfilling experiences” in his life.

Pascual was also the president of the University of the Philippines and the Management Association of the Philippines before testing the waters of government life.

When he announced his sudden resignation, Pascual said his return to the private sector would also allow him to spend more time with his family. —Meg J. Adonis

That’s not Razon … nor Inquirer.net

One more time with feeling.

“News reports” you may have been seeing about the “Central Bank of the Philippines” supposedly suing billionaire Enrique Razon Jr. for “statements he made on live television” are completely false.

International Container Terminal Services Inc. (ICTSI), one of Razon’s main business ventures, was quick to dispel rumors on Monday.

“We wish to inform the public that Mr. Razon has no pending civil or criminal cases before any Philippine court or government agency,” ICTSI said in a statement.

READ: INQUIRER.net warns public of social media posts using misleading URLs

What probably made the post believable was the fact that (1) the sketchy website used Inquirer.net’s interface and (2) it was promoted via sponsored posts on Facebook and Instagram.

ICTSI went on to urge the public to rely only on official information and verified sources for news.

Here’s actual and verified information: Razon, the richest individual in the country, is not the first victim of this scheme.

This was the same formula used to discredit Lance Gokongwei, president and CEO of diversified conglomerate JG Summit Holdings Inc., a few months ago.

It was made to look as though Gokongwei said some damning things “in an interview,” which the Gokongwei Group also denied.

Once again, always take a good look at the links of whatever article you’re clicking. —Meg J. Adonis

Mayor Abby nears ’24 revenue target

Makati City’s share in the National Tax Allotment (NTA) may have been slashed by 40 percent with the transfer of 10 Embo barangays to Taguig City, but chances are, Mayor Abby Binay will still be able to hit the city’s target revenue collection this year.

The odds are firmly in Binay’s favor as the city has already collected P16 billion as of the end of June, equivalent to 87 percent of the full year target of P18.42 billion.

“The reduced share of Makati had minimal impact on our financial stability, and we are optimistic that we will again exceed this year’s revenue target. This means that we will be able to stay on track with the implementation of better programs and projects planned for the year until next year,” Binay said.

According to the latest report from City Treasurer Jesusa Cuneta, the bulk of the collections came from business taxes at P8.6 billion, followed by real property taxes with P5.5 billion.

From other local revenue sources, the city gained P648.8 million from fees and charges and P232.2 million from economic enterprises. Its earnings from interest income reached P317.8 million, while its income from external sources included its P503-million NTA and P164-million share from the Philippine Economic Zone Authority, the city said in a statement.

The Business Permit and Licensing Office also reported 4,043 new business establishments and 35,290 businesses that renewed their permits in the first semester. The new businesses had a combined capital investment worth over P26 billion, while gross sales of existing businesses reached P1.88 trillion in the same period.

The sustained growth of the city’s local economy has supported major social programs of the city government and the completion of new infrastructure, such as the Makati Columbarium and the new police and fire central headquarters, the city said.

These new facilities are aimed to improve quality of life and promote the safety and convenience of all stakeholders, while securing Makati’s stature as the premier investment destination in the country. —Tina Arceo-Dumlao INQ