The Long Wait for Justice: AMA Bank Depositors Demand Immediate Action from the BSP

Depositors at AMA Rural Bank of Mandaluyong, Inc. ("AMA Bank") have been in limbo and unable to access their hard-earned money for more than five years.  Many of them, especially the elderly, have been pursuing justice nonstop in the hopes of finding a solution that will enable them to get their deposits back.  With every year that goes by, their annoyance only grows as the bank's reopening is still delayed by legal and administrative complications.  Unfortunately, a number of these depositors have died before the resolution they had long fought for was realized.

The Supreme Court's First Division ("SC First Division") issued a Resolution of Even Date ("First SC Resolution") on March 1, 2023, rejecting the SC Petitions of the Philippine Deposit Insurance Corporation ("PDIC") and the Bangko Sentral ng Pilipinas ("BSP"), respectively, and upholding the CA Decision.  This decision required PDIC to return the seized assets and money within five days, and it ordered BSP to reopen AMA Rural Bank.

The Supreme Court En Banc then "with finality" rejected the Motions for Reconsideration of BSP and PDIC in its Resolution dated May 28, 2024 ("Second SC Resolution").  After that, the Supreme Court En Banc issued an Entry of Judgment affirming the CA Decision in CA-G.R. and the First and Second SC Resolutions.  On May 28, 2024, SP No. 163288 became final and executory.  

After this ruling, a group of AMA Bank depositors returned to BSP on March 5, 2025, to voice their concerns.  This visit comes after earlier attempts to get clarification on the status of their deposits, which included a formal letter to BSP officials and a previous meeting.  The BSP's actions contradict its repeated declarations that it is in favor of AMA Bank's reopening.

The second Motion for Reconsideration (M.R.) that the BSP filed with the Supreme Court, which vehemently opposes the reopening of AMA Bank, is the source of the issue. The depositors' worries have only grown as a result of this contradiction. Why continue using legal tactics to block the reopening if BSP actually supports it? This second M.R. was communicated to the depositors.  continues to be considered by the Supreme Court, adding to the ambiguity surrounding their funds.

To make matters worse, PDIC, the Department of Education ("DepEd"), and the BSP itself are denying AMA Bank access to nearly 2 billion pesos in legitimate funds.  Even if AMA Bank were to reopen, it would find it difficult to function efficiently without these funds.  Depositors worry that if a reopening is forced without sufficient funding and the BSP second M.R.  stays pending, AMA Bank would only be subject to contempt of court, which would make matters more complicated.

On November 7, 2019, the BSP issued Monetary Board ("MB") Resolution No. 1705.D ("MB Resolution No. 1705.D"), which ordered the closure and liquidation of AMA Bank, designated PDIC as its receiver, and instructed PDIC to move forward with the takeover and liquidation of AMA Bank. This marked the beginning of the protracted suffering endured by AMA Bank depositors.

Following the Notice of Closure, PDIC implemented MB Resolution No. 1705.D on November 8, 2019, and took over the operations of AMA Bank's Mandaluyong City head office, nine branches, and three (3) other banking offices (OBO) across the nation. PDIC also seized all of the bank's assets, including cash assets, and all of its records and documents.

However, the Court of Appeals granted AMA Bank's CA Petition in its Decision dated 7 September 2020 ("CA Decision"), among other things, by nullifying and annulling MB Resolution No. 1705.D and all actions taken in accordance with it. It also ordered PDIC to (i) return all records, documents, and assets that it had seized from AMA BANK and (ii) to revoke the orders it had issued in order to implement MB Resolution 1705.D.

The Court of Appeals determined that the closure was illegal in this CA Decision and directed the BSP and PDIC to reopen the bank and return the assets that had been seized.  The bank has been closed for over four years in spite of this decision.

When BSP and AMA Bank met on March 5, 2025, BSP's Deputy Governor Atty.  Elmore Capule presented the BSP's position on the matter.  But instead of offering a firm solution or a clear course of action, BSP, via Atty.  Capule requested that the depositors come back in a month.  The depositors were even more disappointed by this response because they had anticipated a more significant update or commitment from the central bank.  The depositors were further irritated by the BSP's failure to release an official statement about the meeting, which left them with more questions than answers.

Now, the depositors are making a direct appeal for BSP to:

1. Withdraw the second motion for reconsideration and allow the Supreme Court’s ruling to take effect without further delay.
2. Use its influence over PDIC, DepEd, and BSP itself to release AMA Bank’s rightful funds, ensuring that the institution can operate once more and fulfill its obligations to its depositors.

Time is no longer a luxury for the elderly depositors who have been waiting for years.  Their demand for justice encompasses fairness, accountability, and respect for due process in addition to monetary reparations.  Now, it is up to BSP to make sure that its words and deeds match and to finally end this protracted financial nightmare.

The AMA Bank depositors are demanding justice that has long been deserved, not just their money back.  Their demand that the BSP take immediate action is more urgent than ever.

Alpas Pinas Highlights Filipino Women Leading the Charge in Nuclear Science, Energy Advocacy

“At PNRI, we celebrate women and girls in this field who are not only shaping the future of PNRI but also inspiring the next generation of researchers, leaders, and innovators.” ~Vallerie Ann Samson, Deputy Director of PNRI

Since the beginning of the twentieth century, women have made significant progress. Women are now at the forefront of determining the future of the world, from voting rights to running governments and multinational corporations.

Women have also taken the lead in the field of nuclear science. True trailblazers include pioneering scientists like Lise Meitner, who helped discover nuclear fission, and Marie Curie, who cleared the path for studies on radioactivity. The fact that Filipino women are leading the way in nuclear research, policy, and education, however, is less well known, demonstrating that gender is not a barrier to excellence in the field.

For years, the Philippine Nuclear Research Institute (PNRI) has been a strong supporter of gender inclusivity, with women leading research initiatives and holding key leadership positions.  According to the PNRI 2022 report, women account for 46% of the total workforce, with 35% in technical positions and 9% in administrative roles. This significant representation demonstrates PNRI's commitment to creating a more inclusive environment in nuclear science, one in which women play an important role in driving innovation and progress.

Recognizing this growing influence, Alpas Pinas, a non-profit organization that advocates for clean, affordable, and dependable energy, commemorated Women's Month by hosting a media briefing to highlight the critical contributions of women in nuclear science and technology.  This initiative is consistent with the organization's larger mission of promoting gender diversity in Science, Technology, Engineering, and Mathematics (STEM) while accelerating discussions about nuclear energy as a key component of the Philippines' energy mix.

The media briefing, led by Alpas Pinas Convenor Gayle Certeza and attended by PNRI Deputy Director Vallerie Ann Samson, shed light on PNRI's extensive nuclear science research initiatives and how women have played an important role in these advancements.

Samson discussed the PNRI's ongoing research into nuclear applications in food and agriculture, healthcare, environmental protection, and education.  She emphasized the critical role of female scientists in moving these projects forward.

Dr. Carlo Arcilla, PNRI Director, also attended the event and emphasized the institution's long-standing commitment to gender equality in nuclear science. PNRI actively promotes an inclusive environment through its Gender and Development (GAD) initiatives, which promote gender equity in learning, research, and specialized nuclear services. The institute also advocates for gender-neutral language and has set up an online GAD Help Desk to support these efforts.

"We acknowledge the progress made, but there is still work to be done. It is crucial to ensure more balanced representation, especially at senior and policy-making levels, and I am glad we get to practice this at PNRI." ~Dr. Carlo Arcilla, PNRI Director

Arcilla has also been an outspoken advocate for gender equality at the International Atomic Energy Agency (IAEA). During the 61st Regular Session of the IAEA General Conference, he emphasized the importance of balanced representation within the agency in order to track progress toward closing gender gaps.

“Women are championing nuclear science in the Philippines, and we are here to ensure that their work is backed by policies that will drive the country forward.” ~Cong. Mark Cojuangco, Pangasinan 2nd District Representative

Representative Cong of the Pangasinan 2nd District was among those present. Cojuangco Mark.  Together with renowned economist Prof. Winnie Monsod, Cojuangco recently spoke at a forum held by the UP School of Economics Alumni Association (UPSEAA) about how female experts like Monsod have long argued for its potential to improve the nation's energy security. Her and other female thought leaders' perspectives highlight the significance of carrying on the discussion and expanding on earlier attempts to include nuclear power in the Philippines' energy mix.

“Nuclear science is about breaking barriers in representation. The Philippines has proven that women can lead in this field, and it is our responsibility to continue supporting their journey toward a future powered by clean, cheap, and reliable energy that will mean cheaper electric rates for all Filipinos.” ~Gayle Certeza, Alpas Pinas Convenor

 

Certeza echoed this sentiment by delivering a powerful message to cap off the media briefing, resonating with all the attendees.

 

Mustela and Lactation Treats by RCG, Two Mom and Baby Care Brands, have opened stores at SM Bulacan Malls

The opening of Mustela and Lactation Treats by RCG, two well-known and dependable brands, at SM Bulacan malls is fantastic news for mothers and their infants.

The ground floors of SM City Marilao and SM City Baliwag now carry Mustela, one of the top brands offering natural skincare products that are expertly formulated and clean for infants, kids, and expectant mothers.  Nothing is more valuable than your children, which is why Mustela offers organic essentials that are safe for even the most sensitive baby skin.  Mustela's physical stores in SM City Marilao and SM City Baliwag conveniently stock a variety of goods, including best-selling items like Cicastela Moisture Recovery Cream, Gentle Cleansing Gel, No Rinse Cleansing Water, and Vitamin Barrier Cream.  Additionally, their gift sets and bundles are so affordable that you won't be able to resist them when you visit.

Breast milk is always best for babies.  That being said, SM City Baliwag welcomes Lactation Treats by RCG, a game-changing brand that serves as a milk booster for pregnant and breastfeeding mothers in the form of delicious pastries. Lactation Treats by RCG are a guilt-free snack that is high in protein, rich in omega 3, easy to digest, free of preservatives, and loaded with antioxidants.  With these benefits, moms can expect to increase their milk supply while indulging in delicious treats in between.

Explore the various options for providing care for mothers and babies at the SM Bulacan Malls.  For updates, visit the official Facebook pages of SM City Marilao, SM City Baliwag, and SM Center Pulilan.

With a PHP 29 Seat Sale, Cebu Pacific Celebrates its 29th Anniversary!

The Nation's Top Airline, Cebu Pacific (PSE: CEB), is celebrating its 29th anniversary this March by reviving its highly anticipated Super Seat Fest, which will allow all Juans to visit more places via the airline's hubs throughout the Philippines and abroad.

Sale Period: March 6-11, 2025 (All domestic and international destinations)

Promo Fare: As low as PHP 29 one-way base fare (exclusive of fees and surcharges)

Travel Period: July 1 - November 30, 2025

In addition to facilitating traveler exploration of the nation's dynamic cities, stunning beaches, and rich cultural sites, CEB is fortifying ties between islands and communities through its well-positioned hubs in Manila, Clark, Cebu, Iloilo, and Davao.

Direct flights are available from Clark to the top beach destinations in the nation, including Siargao and El Nido, Palawan, for visitors from north and central Luzon.

Additionally, Cebu provides direct flights to 28 locations, including the longest white sand beach in the nation, Masbate, and San Vicente, Palawan.

While Iloilo provides visitors with a cultural and gastronomic culinary experience, CEB's Davao hub offers adventurers a variety of thrilling activities like river rafting and mountain climbing.

Additionally, travelers can easily take direct flights from CEB hubs to a number of foreign locations, including Bangkok, Hong Kong, Seoul, Singapore, and Tokyo.  From lively nightlife and bustling markets to picturesque landscapes and rich historical sites, every city offers a different fusion of culture, food, shopping, and entertainment.  These amazing locations are now more accessible and simpler to visit than before thanks to CEB's Super Seat Fest.

Book your flights now at bit.ly/CebuPacificSale.

Cebu Pacific's Social Media Accounts:

Facebook: https://www.facebook.com/cebupacificairphilippines

X: https://twitter.com/CebuPacificAir

Instagram: https://www.instagram.com/cebupacificair/

AirAsia Aviation confirms 14 new aircraft deliveries for 2025

“We’ve had a great start to 2025, and we are excited as AirAsia’s future growth is fully secured, with the next 56 aircraft already financed. This gives us an unmatched runway for expansion, allowing us to scale with absolute certainty whilst delivering the most affordable and reliable travel experience. This is more than about expanding our fleet— it’s about putting more flights where our guests need them most, opening up new destinations, and making travel even more seamless and affordable. Every aircraft we deploy is a step toward giving our guests more choices, better connections, and the best value in the skies. We are accelerating towards pre-pandemic growth rates faster than anticipated, and this expansion is a testament to our confidence in the market’s strength. Demand is up, load factors and yields remain strong, and we are laser-focused on route optimisations with a disciplined focus on cost efficiency. This positions AirAsia steadily to seize future growth opportunities and with the latest aircraft technology, we are future-proofing our operations for the next decade, setting the foundation for long-term, sustainable growth.” ~Bo Lingam, Group CEO of AirAsia Aviation Group

The next phase of growth is secured, with 56 future aircraft fully financed, cementing AirAsia's return to pre-COVID growth and leadership as the world's best low-cost airline.

AirAsia Aviation Group, also known as "AirAsia" or "the Group," has confirmed that it will be delivering 14 new aircraft in 2025, 10 of which will come from lessors and four of which will come directly from aircraft manufacturer Airbus.  AirAsia's position as the top low-cost carrier will be strengthened by this strategic fleet expansion, which is expected to meet the growing demand for travel throughout Asean and beyond.

According to the International Air Transport Association (IATA), Asia Pacific passenger numbers will grow by 7.9% in 2025, the fastest rate in the world, owing to economic recovery, competitive fares, and government-led tourism campaigns.  Reflecting this momentum, AirAsia's internal guidance calls for 70 million passengers in FY2025, an 11% increase over last year.  To accomplish this, the Group is increasing capacity, improving connectivity, and optimizing its network for maximum efficiency.  With a strong emphasis on operational excellence and cost leadership, AirAsia's immediate priorities are to increase domestic market share and improve Fly-Thru connectivity across all operating markets, while in the medium term, it will consider expanding into key global destinations to bring new destinations to guests.

With its dominant position in the Asean market, AirAsia is a vital link to important global markets, providing easy access to locations in the Middle East, Asia-Pacific, Central Asia, and beyond.  The airline's vast short-haul network, which is supported by its mega hubs in Bangkok and Kuala Lumpur as well as its hubs in Indonesia, the Philippines, and Cambodia, improves regional connectivity and acts as a launching pad for long-haul growth.

AirAsia is well-positioned to integrate the effectiveness of its short-haul routes with the reach of its long-haul operations in order to consolidate its network in light of the upcoming aviation corporate exercise.   Additionally, the Airbus A330 fleet will be optimized for long-haul routes, supporting AirAsia's push into new intercontinental markets, while the Airbus A321XLR and A321LR will revolutionize low-cost regional and long-haul connectivity.  The airline will be able to lower expenses and increase fuel efficiency thanks to this carefully thought-out fleet expansion, guaranteeing a profitable and sustainable growth model.

AirAsia, one of the world's fastest-recovering airlines, is expected to reach and surpass its pre-pandemic growth trajectory.  The confirmed aircraft deliveries will strengthen AirAsia's position as the top low-cost carrier in the region by supporting routes with high demand, opening up new markets, and increasing overall operational capacity.  AirAsia continues to shape the future of low-cost travel and solidify its position as a major player in the global aviation industry thanks to robust market demand and a dedication to affordability.

PlayTime gears up the Year of the Wooden Snake with adventure, festivities and sports advocacy

“Exploring Binondo’s bustling streets, enjoying vibrant festival grounds of Cebu and Iloilo, and embarking a notable partnership with NBTC, PlayTime continues to create meaningful and engaging experiences that bring people together. We remain committed to making every moment more exciting for players and festival-goers alike. Please stay tuned as we continue to be present in more festivals as well as promote goodwill that we believe are important to Filipinos.” ~Mr. Jay Sabale, PlayTime's Senior PR Manager

With thrilling celebrations and sports advocacy, PlayTime, the leading company in the Philippines' online entertainment games market, ushered in the festival season and Lunar New Year. Through immersive experiences and incredible collaboration, PlayTime brought the spirit of play and community to life.

A Festive Food Crawl in Binondo

In celebration of the Year of the Wooden Snake, the PlayTimeKada and PlayTime Babe Kat Llegado embarked on a delectable food crawl through Binondo, the center of Manila's Chinatown.  PlayTime's Chinese New Year celebration took place in Binondo, the oldest Chinatown in the world, and the team enjoyed traditional Chinese New Year treats like savory dumplings, special hopia ube, and fortune cookies. 

They participated in the exciting celebrations as well and used livestreaming to share the action with PlayTime fans.  The occasion perfectly encapsulated the luck, prosperity, and camaraderie that the Lunar New Year offers.

On-Ground Fun at Sinulog and Dinagyang Festival

In addition to celebrating in Manila, PlayTime participated in two of the nation's largest festivals, Dinagyang in Iloilo and Sinulog in Cebu, with thrilling on-ground activities.  PlayTime, in collaboration with Win Radio, organized the DJ's Fun Day during the week-long Sinulog festival. Through interactive games, activities, and prizes, the eager attendees were able to feel PlayTime's energy up close, adding to the excitement of the celebration. 

The PlayTimeKadas of Cebu and PlayTime Binibini Sam Acosta shared historical information and brought celebrations closer to the PlayTime community across the country by going live on social media while touring some of Cebu's most famous landmarks.

On the other hand, attendees of the three-day Dinagyang Festival also enjoyed the fun and entertainment at the DJ's Fun Day event, which was organized by PlayTime Babe Ivayne Omelig and the PlayTimeKadas of Iloilo.  They toured the city's renowned eateries and flavors and went live on social media to round out the experience.

Forging Ties with National Basketball Training Center

On February 3, 2025, PlayTime CARES formally committed to supporting NBTC in training, development camps, and athlete growth programs during a ceremonial handshake between Mr. Eric Altamirano, National Basketball Training Center (NBTC) National Program Director, and Mr. Jay Sabale, PlayTime's Senior PR Manager. The goal of this collaboration is to give young people more chances to succeed in basketball. 

By providing them with the tools and chances they require to thrive in basketball and beyond, PlayTime CARES helps to build the foundation for future basketball stars. This partnership promises to have a significant impact on the future of Philippine basketball as well as the growth of young athletes. 

Launched in 2024, PlayTime is a premier online games entertainment platform licensed by PAGCOR. With over 2,500 games and 20 million users, PlayTime offers the highest daily cashback (up to 2%), and fastest withdrawals (guaranteed in 10mins) in the Philippines. Visit www.playtime.ph for more information.

Paris Baguette Expands Global Reach with the Launch of Its Regional Manufacturing Hub in Johor, Malaysia

"With the Johor Production Centre as a strategic hub, we aim to bring wholesome and delightful flavours to the 2 billion consumers in the Halal market, spanning Southeast Asia, the Middle East, and beyond." ~Mr. Hur Young In, Chairman of SPC Group

Strategic Growth to Strengthen International Supply Chain and Meet Rising Global Demand.

The SPC Group's internationally recognized bakery brand, Paris Baguette, has formally opened its newest regional manufacturing facility in Johor, Malaysia. This milestone, which was attended by Johor Chief Minister YAB Dato’ Onn Hafiz Ghazi, Republic of Korea Ambassador to Malaysia Mr. Yeo Seung-bae, and SPC Group Chairman Mr. Hur Young In, reaffirms Paris Baguette’s dedication to international growth, expanded production capacity, and supplying premium bakery goods to global markets.

With a smooth, effective supply chain that supports the brand's expanding presence throughout Southeast Asia, the Middle East, and beyond, this plant represents a critical step in Paris Baguette's global expansion. The Johor hub will be crucial in increasing production capacity, expediting worldwide distribution, and solidifying SPC Group's position as a significant participant in the global food sector as the demand for high-quality bakery products continues to expand on a global scale.

Johor, sometimes known as Malaysia's southern pearl, is quickly becoming one of the most vibrant economic centers in the area. The state is poised to replicate the revolutionary achievements of Shenzhen and Hong Kong by establishing smooth cross-border trade, drawing high-value investments, and promoting economic integration through the recently signed Johor-Singapore Special Economic Zone (JS-SEZ). Paris Baguette's presence in Johor is a natural fit with the region's expanding potential as a key gateway to Southeast Asia and beyond, as Johor strives to become a global center for business and innovation.

“Paris Baguette’s decision to establish this hub in Johor is a strong affirmation of our state’s appeal as a global business and manufacturing destination. With our infrastructure, connectivity, and skilled workforce, Johor is ready to support leading international brands in their expansion  efforts. We welcome Paris Baguette as part of our growing industrial ecosystem and look forward to seeing their continued success.” ~Dato’ Onn Hafiz Ghazi, Johor’s Chief Minister

The Paris Baguette Regional Manufacturing Hub in Johor was created to facilitate the brand's quick growth in important foreign markets. With seven state-of-the-art production lines, the center can produce up to 100 million bakery products annually, guaranteeing a consistent and expandable supply of baked goods to satisfy demand worldwide.

This facility's Halal accreditation, which satisfies some of the strictest food safety and quality criteria in the world, is one of its distinguishing features. Malaysia's internationally renowned Halal certification is a byword for superior food production, sourcing, and cleanliness practices. Paris Baguette has further strengthened consumer trust in global markets by obtaining this accreditation, which guarantees that its goods exceed the highest standards of quality, safety, and cleanliness.

“This is an exciting chapter in Paris Baguette’s global journey. Our expansion into Malaysia is not just about increasing production capacity, it is about building a strong foundation for future growth. This facility strengthens our international supply chain and allows us to serve our customers worldwide with greater efficiency and consistency. From this strategic location in Southeast Asia, we can reach key global markets faster and more effectively, ensuring that our high-quality bakery products are enjoyed by more people than ever before.” ~Mr. Hur Jin Soo, President of SPC Group

Paris Baguette is still one of the fastest-growing bakery brands in the world market, with almost 4,000 locations globally. SPC Group's larger plan to solidify its position as a global leader in the baking and food production sector includes the establishment of this regional manufacturing cluster.

For more info, please visit https://www.parisbaguette.com.sg/ or contact Ms. Charlene Chen at charlene.chen@parisbaguette.com.sg 

 

 

 

 

About Paris Baguette  

Paris Baguette, born in 1988, is a global bakery brand of SPC Group, a leading South Korean food and confectionery corporation. From its modest beginnings, the chain has grown steadily to become the No.1 bakery in Korea. 

From 2004, the brand has expanded internationally, the brand operates around 4,000 stores worldwide across the United States, Canada, France, UK, China and Southeast Asia, solidifying its reputation as a truly global premium bakery brand. 

Paris Baguette is committed to blending traditional baking techniques with modern innovation to deliver diverse range of products such as breads, pastries, cakes, and beverages that appeal to a wide audience, from everyday treats to special celebration.

About SPC Group  

SPC Group is a Korea-based global food company, over 80 years of history. It owns 30 renowned brands and operates 7,000 stores worldwide, including Paris Baguette, Paris Croissant, Passion 5, Coffee@Works, and StrEAT. 

SPC Group has successfully introduced global brands to the Korean market including Baskin Robbins, Dunkin, Pascucci, LINA’s, Jamba, Shake Shack. 

SPC Group remains committed to innovation, quality, and sustainable growth, shaping a healthier and happier global food culture. 

In addition, SPC Group is striving to pursue its mission to make the society healthier and happier by fulfilling their social responsibilities and cooperating with stakeholders to lead a healthy food culture and grow into a Great Food company loved by the globe.