Instead of giving tax perks to businesses cashing in on the tourism windfall, Finance Secretary Cesar Purisima prefers to fund infrastructure projects meant to improve access to tourist destinations
Ongpin leaves PBCom post
RESIGNED. Businessman Roberto Ongpin quits board of PBCom. This photo appears on the commercial bank's 2011 annual report
MANILA, Philippines - Businessman Roberto V. Ongpin has resigned as director and co-chairman of Philippine Bank of Communications (PBCom), the bank said on Wednesday, January 2.
The PBcom said in a disclosure to the Philippine Stock Exchange that Ongpin submitted his resignation on December 28, 2012.
Ongpin's group acquired a 97% stake worth P4.7 billion in PBCom in December 2011.
Ongpin, who also chairs Alphaland Corp., ISM Communications Corp, among others, faces legal cases, as he is the subject of a Senate probe on P660 million worth of alleged behest loans granted by state-run Development Bank of the Philippines to his businesses in 2009.
In December 2012, the Court of Appeals ordered a temporary freeze on about 100 bank accounts linked to Ongpin at the request of the Anti-Money Laundering Council. - Rappler.com
EDITOR'S PICK
-
-
How important is Taiwan for PH?
As economic sanctions loom over the Philippines as a result of the increasing tension between the Philippines and Taiwan what kind of effect will it have on the two countries?
- >Anchor Land Q1 income jumps 13% to P295-M
- >Facebook outlook still muddled one year after IPO
- >2012 metal output down 18%
- >Razon's ICTSI shortlisted for Melbourne port project
- >San Miguel to invest $1.5-B in power plants
- >Customs seizes P25-M fake, expired medicines
- >PH debt rises to P5.3-T in March
