Yup, strange explanation but it doesn't sound like a fixed policy. Maybe they should just eliminate VCDs altogether and bring down their prices to Php299 permanently...
Anyway, here's the release profile of
The Island:
Format: DVD
Language: English
Subtitle: English, Chinese
Special Features: Making of The Island, ROM-enabled Director's Commentary
Region: 3
No. of Discs: 1
Run Time: 126 mins