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Maybank teams up with Bayad to boost bill payment facility

Maybank teams up with Bayad to boost bill payment facility
bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.

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Cosco Capital settles P4-B corporate notes

Cosco Capital settles P4-B corporate notes
June 4, 2021 | 12:05 am
LUCIO L. Co’s Cosco Capital, Inc. said that it had paid its P4-billion seven-year corporate notes to its creditors.
In a regulatory filing on Thursday, Cosco Capital said it had settled its loan with the following: Land Bank of the Philippines, Rizal Commercial Banking Corp., Maybank Philippines, Inc., Robinsons Bank Corp., Security Bank Corp., and United Coconut Planters Bank.
The company said the loan was used for its investment in liquefied petroleum gas distributor Liquigaz Philippines Corp. in 2014. It acquired Liquigaz from SHV Energy of the Netherlands.
Cosco Capital said it sold Liquigaz in 2019 “at over three times the acquisition cost,” without disclosing figures. ....

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Pandemic halts foreign bank applications – BSP – Manila Bulletin

Published January 25, 2021, 6:00 AM
The COVID-19 pandemic has put on hold foreign banks’ plan to establish local units or branches in the Philippines.
“As of now, no application to establish foreign bank is received by the FSS (Financial Supervision Sector),” according to Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi G. Fonacier, who heads the FSS.
Before the global pandemic was declared in March last year, there were at least three foreign banks based in Hong Kong, South Korea and Indonesia that were in the preparation stage to set up local branches here.
Since 2014, when Republic Act No. 10641 or An Act Allowing the Full Entry of Foreign Banks in the Philippines amended the previous foreign bank entry law, a total of 12 foreign banks were allowed to set up bank branches in the country. ....

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