SMC

Coconut

Gagni’s Gleanings By Lito U. Gagni Buisness Mirror THERE is an interesting exchange of correspondence among the CIIF Oil Mills Group, the Bureau of Treasury (BTr) and the Presidential Commission on Good Government (PCGG) on where the P57.669-billion coco-levy funds are lodged. The funds were received by the CIIF from San Miguel Corp. from out of the proceeds of the redemption price of P75 per Read More …

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By Charlie V. Manalo The Daily Tribune A move by the government to tap into the coconut levy funds which were liquidated recently through the redemption of San Miguel Corp. (SMC) shares that yielded more than P11 billion, to finance the Comprehensive Agrarian Reform Program (CARP) was criticized by a militant farmers group saying that it would probably be used to pay for the P10 Read More …

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By Charlie V. Manalo The Daily Tribune Farmer groups call for cash distribution The militant peasant group Kilusang Magbubukid ng Pilipinas (KMP) and the Kaisahang Pambansa ng mga Magsasaka sa Koprahan (Koprahan) yesterday warned the Aquino government against using the coco levy funds in its so-called anti-poverty programs. The groups also pushed the immediate cash distribution of the coco levy funds to small coconut farmers, Read More …

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By AMADO P. MACASAET MALAYA ‘There is so much confusion about the coconut levy. It is now alleged by the coconut farmers that the levy belongs to them.’ THERE is so much confusion about the coconut levy. It is now alleged by the coconut farmers that the levy belongs to them. They claimed the Supreme Court erred when it ruled that Eduardo M. Cojuangco used Read More …

BY DUCKY PAREDES MALAYA ‘(T) he resulting duty of the borrower in a contract of loan is to pay, not to return, to the creditor or lender the very thing loaned. This explains why the ownership of the thing loaned is transferred to the debtor upon perfection of the contract.’ THE Supreme Court has ruled in G.R. No. 166859, that the stake of businessman Eduardo Read More …

Viewpoint By Juan L. Mercado Philippine Daily Inquirer  “I sinned by betraying innocent blood,” Judas Iscariot’s scream reechoes every Holy Week for two millennia now. For 30 pieces of silver, Judas sold out his Friend who was crucified. Innocent blood is still spilled here on Holy Week 2012. Ferdinand Marcos imposed Presidential Decree 276 in 1973. Thousands of farmers still go to their graves today, Read More …

By Michael Lim Ubac, Norman Bordadora Philippine Daily Inquirer President Benigno Aquino III. INQUIRER FILE PHOTO President Benigno Aquino III will decide based on “what is right for the people” the disposition of the coco levy funds. “Every action that the President has taken is really for the people. That’s the reason why P-Noy (Aquino) is there,” said deputy presidential spokesperson Abigail Valte, dismissing allegations Read More …

By Fernando del Mundo Philippine Daily Inquirer Eduardo “Danding” Cojuangco, current chairman of San Miguel Corp. INQUIRER FILE PHOTO Coconut farmers can kiss goodbye their hopes of recovering nearly P60 billion worth of shares in San Miguel Corp. (SMC). The Supreme Court slammed the door to any further judicial action concerning a 20-percent bloc of SMC shares when it issued an “entry of judgment” after Read More …

Corporate Watch By Amelia H.C. Ylagan BusinessWorld She exudes the mystique of the faraway unknown. Standing proud and beautiful, she subtly beckons to escapist liaisons by her seeming inaccessibility. Many want her for the glamour and romance of anticipated capture, pheromones excited by competitive pursuit and the final vanity of victorious acquisition. I must have her, he says. And so Chinese-Filipino billionaire Lucio Tan, tobacco Read More …

By Edu Punay The Philippine Star MANILA, Philippines – The Supreme Court (SC) has upheld government’s re-conveyance of the 24 percent block of shares or a total of 753.8 million shares in San Miguel Corp. (SMC) acquired through coconut levy funds and registered in the names of the Coconut Industry Investment Fund (CIIF) and its holding companies. Voting unanimously in full-court session yesterday, magistrates of Read More …