Author: Juan V. Sarmiento Jr. (Juan V. Sarmiento Jr.)

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The conglomerate that a ‘sari-sari’ store built

PANGLAO ISLAND, Bohol—A group of companies that grew from a sari-sari store in Bohol’s capital Tagbilaran City has been so dominant in the commercial center business that mall magnates like the Sys, Ayalas, Gokongweis, Gotianuns or Gaisanos have not gained a foothold in the province.  Alturas Group of Companies (AGC) is the clear mall king...


Going local and green to build 50-hectare, mixed-use ‘family dream’

PANGLAO ISLAND—Bohol’s homegrown conglomerate, the Alturas Group of Companies, began as a sari-sari store 50 years ago in the provincial capital of Tagbilaran.  Now it is expanding its beach resort here into a 50-hectare, mixed-use estate at a cost of P25 billion. The expansion is a vote of confidence in the prospects of tourism on...


Continue to oppose Maharlika Investment Fund, says ex-central bank official

As the battle shifts to the Senate after the House of Representatives overwhelmingly approved the bill creating the Maharlika Investment Fund (MIF), a former official of the Bangko Sentral ng Pilipinas (BSP) has called on the public to amplify its objections to the measure.  Diwa Guinigundo, BSP deputy governor until 2019, said that while the...


‘Maharlika Wealth Fund’ is uniting Filipinos in resisting it

The cost of administering the Maharlika Investments Fund (MIF), the Philippines’ sovereign wealth fund to be established should the bill seeking its creation be passed into law, is alarming many Filipinos. Its ability to generate the “consistent and stable investment returns” that its proponents tout is also raising loud questions. One wonders how the Fund...