Author Topic: Danding Cojuangco and Coconut Levy Fund  (Read 703 times)

MikeLigalig.com

  • FOUNDER
  • Webmaster
  • *****
  • Posts: 33284
  • Please use the share icons below
    • View Profile
    • Book Your Tickets on a Budget
Danding Cojuangco and Coconut Levy Fund
« on: April 13, 2011, 02:10:38 PM »
By Vincent Cabreza
Inquirer Northern Luzon

Businessman Eduardo “Danding” Cojuangco Jr., an uncle of President Benigno Aquino III and crony of the late dictator Ferdinand Marcos, is the legitimate owner of a fifth of shares in San Miguel Corp., which government claims he acquired using the controversial coconut levy funds.

SMC is the country’s biggest food and beverage conglomerate, which has diversified into power generation, telecommunications and other businesses.

The Supreme Court, sitting en banc, affirmed a 2007 decision issued by the Sandiganbayan and declared “that the block of shares in SMC in the names of respondents Cojuangco et al. ... is the exclusive property of Cojuangco et al. as registered owners.”

The government had been contesting 20 percent of SMC’s capital stock or 16,276,879 shares that Cojuangco allegedly acquired through the coco levy when he headed the United Coconut Planters Bank (UCPB). [SMC closed Tuesday at P153 a share in the Philippine Stock Exchange and San Miguel Brewery Inc. at P30.6.]

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=40092.0
John 3:16-18 ESV
For God so loved the world, that he gave his only Son (Jesus Christ), that whoever believes in him should not perish but have eternal life. For God did not send his Son into the world to condemn the world, but in order that the world might be saved through him. Whoever believes in him is not condemned, but whoever does not believe is condemned already, because he has not believed in the name of the only Son of God.

👉 GET easy and FAST online loan at www.tala.com Philippines

Book tickets anywhere for planes, trains, boats, bus at www.12go.co

unionbank online loan application low interest, credit card, easy and fast approval

Tags: