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Diokno turns over DOF helm to Recto

Diokno turns over DOF helm to Recto
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Senate wrapping up POGO inquiry, mounts last hearing

SENATE probers are set to wrap up their inquiry into the issues surrounding the Philippine Offshore Gaming Operators (POGO), amid calls from some quarters to completely ban them despite strict regulatory measures taken in the past three years by three line agencies and local government units. Sen. Sherwin Gatchalian, probe… ....

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Monde Nissin banks on explosive growth of Quorn

Monde Nissin Corporation lists shares at Philippine Stock Exchange
The stock traded at a range of P13.46 to P13.56 per share before closing at P13.48 apiece, slightly lower than its IPO price of P13.50.
Monde Nissin raised P48.6 billion from its offering of 3.6 billion shares with an over allotment option of 540 million shares.
Securities and Exchange Commission Chairman Emilio Aquino said “Monde Nissin IPO offering is worth as much as P48.6 Billion the largest IPO in Southeast Asia this year so far.”
He added that, “This could hopefully help regain the confidence of the investing public on the PH stock market; as well as stir up our economy considering that majority of its proceeds from the offering will be used for capital expenditures in its operations in the Philippines.” ....

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Philippines widens scope of anti-money laundering rules

MANILA, April 4 (Bloomberg): The Philippines will now require all financing and lending companies to register with the Anti-Money Laundering Council, report suspicious transactions and comply with other rules aimed at combating money laundering and terrorism financing in the country.
The rules previously applied only to financing and lending firms with more than 40% foreign participation in voting stocks and those with paid-up capital of at least 10 million pesos ($206,100).
The amendment aims to protect financing and lending companies from abuse and misuse by money launders and terrorists, and more importantly the integrity of the financial system, the overall economy and the people who would ultimately suffer from such illicit activities,” Securities and Exchange Commission Chairman Emilio Aquino said in a statement on Sunday. ....

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