Biz Buzz: Mandarin Oriental’s 2026 comeback
After the demolition of its old building a decade ago, luxury hotel operator Mandarin Oriental Hotel Group (MOHG) has secured a strategic new spot in the Makati skyline.
The new Mandarin Oriental Hotel, located at Ayala Triangle Gardens on Paseo de Roxas corner Makati Avenue, is slated to open in 2026, offering 276 rooms and an extensive range of amenities, including a premium selection of restaurants and its signature spa.
“We’re excited to welcome Mandarin Oriental back to the Philippines, and to Makati City specifically. More than just a physical landmark, the brand was also a cultural landmark, with the hotel hosting celebrations and special events. Ayala Land is thrilled to bring the brand back to the country to help future generations of Filipinos mark milestones and create memories,” said Mariana Zobel de Ayala, Ayala Land senior vice president/leasing and hospitality head.
Mandarin is seen to be “at the forefront of the evolving landscape of Makati” as the city embarks on a new 25-year plan to enhance its livability, diversity and sustainability.
The original Mandarin Oriental had been a defining part of the Makati City skyline from 1976 through 2014.
“Makati City has always been the commercial center of the country. We’re working to make it the cultural heart of the country as well, keeping pace not just with the changing lifestyles of Filipinos but also with global trends,” said Ayala Land president Anna Margarita Dy.
“As a brand that was born in Asia, Mandarin Oriental has always been at the heart of the region’s development and evolving culture. We’re optimistic about the future prospects of the Philippines, and are happy to be returning to the country now,” said Christoph Mares, MOHG chief operating officer. —Doris Dumlao-Abadilla
Landbank boosts largest co-op
In his second State of the Nation Address, President Marcos brought attention to the country’s cooperatives as he called on Congress for reforms to support the sector.
While lawmakers have yet to grant Mr. Marcos’ legislative wish, state-run Land Bank of the Philippines is making its own moves to boost co-ops.
Earlier this month, ACDI Multipurpose Cooperative (MPC), the largest cooperative in the country in terms of assets, received major financial support from Landbank to expand its services for uniformed personnel.
The support is in the form of rediscounting lines to provide affordable credit for more than 269,000 members of MPC, including active and retired members of the Armed Forces of the Philippines and other uniformed personnel.
Through the partnership, Landbank said it can help the co-op offer more loan packages at friendly rates to help members buy their dream home and vehicle, establish a business, or send their kids to school.
As of end-February 2024, Landbank’s outstanding loans to the cooperative sector reached P73.8 billion, benefiting nearly 1,400 agri and non-agri-based co-ops nationwide. —Ian Nicolas P. Cigaral
BFAR staff rally behind Escoto
“Concerned employees” of the Bureau of Fisheries and Aquatic Resources (BFAR) are rallying behind their chief Demosthenes Escoto, whom the Office of the Ombudsman dismissed for supposedly facilitating a transaction back in 2018 that was disadvantageous to the government.
In a social media post last week, the BFAR said the said employees acknowledged that the Ombudsman’s decision was “part of the due process and must be accorded with utmost respect.”
“Now that the decision is out, we believe that a higher legal recourse is still available for him. Amid these trying times, we would like to express our support to [Escoto],” it said.
The Ombudsman dismissed the BFAR chief after finding him guilty of grave misconduct in relation to the purchase of a monitoring system for fishing vessels in 2018 that had been proven to be disadvantageous to the government.
Following Escoto’s dismissal, Agriculture Secretary Francisco Tiu Laurel Jr. named Isidro Velayo Jr. as BFAR officer in charge to ensure uninterrupted operations in the agency.
The Ombudsman flagged the “anomalous scheme” in the procurement of transmitters and transceivers for catcher vessels used to monitor fishing activities and protect marine resources.
Unfortunately for Escoto, the dismissal order from state prosecutors came a day before his birthday on April 18.
Despite this legal development, BFAR employees commended Escoto for his work in growing the country’s fisheries sector and serving the government for many years.
“On your birthday today, sir, we celebrate your life as a dedicated public servant who has untiringly worked for the welfare of the Philippine fisheries sector,” the agency said on its official Facebook page.
“To those who have known you and worked beside you, you are a leader who inspires purpose in one’s work and commitment to the sector that BFAR serves,” it added. —Jordeene B. Lagare INQ
