DBP ‘bent’ rules for P600M loan
Friday, October 7, 2011
MANILA — The Development Bank of the Philippines (DBP) bent rules to lend P600 million to businessman Roberto Ongpin in 2009, the bank’s current president told senators Friday.
In a presentation to the Senate blue ribbon committee, DBP internal auditor Aurita Villoso said the loans had been granted despite deviations from a Bangko Sentral ng Pilipinas circular governing loans.
She said the loans were allowed despite “adverse credit findings” like unpaid credit card bills. The DBP also waived requirements for Delta Ventures Resources Inc. and Goldenmedia to submit their corporate documents for evaluation.
Credit investigation was also done after the loan was released, not before it was granted, Villoso said.
According to the DBP presentation, two loans of P150 million and P510 million were approved quickly.
The DBP granted a loan of P150 million to DVRI on April 15, 2009. The application for that loan was made on April 4.
A second loan of P510 million was approved on November 4, the same day the application was made.
Former DBP president Reynaldo David, bank president when the loans were approved, said the actual application process started in January of that year when DVRI asked to borrow money.
Del Rosario said, however, that the loan application made in January was “for a different purpose.”
The loan application in January was for “agricultural and trading activities,” he said. The application in April was for investments in stocks, he said.
David said the quick processing was not unusual. He agreed to show the committee other cases where the DBP approved loans quickly. (Jonathan de Santos)
Source: http://www.sunstar.com.ph/breaking-news/2011/10/07/dbp-bent-rules-p600m-loan-183731
Although the Philippines is not known for being the wine capital of Asia, Clark Pampanga is the most frequently visited destination for wine lovers in Cebu, Angeles City and Manila to shop for some good vintage wine. The famous wine shop outside Manila called Clark Wine Center is the largest wine shop in Philippines which offers over 2000 selections of fine vintage wine from all wine regions, vintages spanning over 50 years covering all price ranges.
This wine shop in Clark is highly recommended as one of the best places to buy wine in Pampanga. Clark Freeport is just outside Manila near Subic and Angeles City Philippines is Clark Wine Center. Visitors buy wine in Manila and Pampanga should not miss stopping at this wine shop for a few bottles of fine vintage wines to bring home.
Established in 2002, YATS WINE CELLARS is a wholly-owned business unit of Hong Kong-based Yats International which owns and operates resort, wine shops, wine bars and fine-dining restaurant properties in Clark Freeport in The Philippines. YATS WINE CELLARS caters to a clientele of discerning wine lovers from all over the world. Besides a good selection of wine for everyday enjoyment, YATS offers a unique selection of aged vintage wines made available to wine enthusiasts at remarkably affordable prices. Vintages span over a century and the selection of old- and new-world wines covers all major wine regions.
http://www.ClarkWineCenter.com
Getting to this wine shop in Pampanga Angeles City Clark Freeport Zone Philippines from Manila
Getting to the Clark Wine Center wine shop from Manila is quite simple: after entering Clark Freeport from Dau and Angeles City, proceed straight along the main highway M A Roxas. Clark Wine Center is the stand-along white building on the right, at the corner A Bonifacio Ave. From the Clark International Airport DMIA, ask the taxi to drive towards the entrance of Clark going to Angeles City. From Mimosa, just proceed towards the exit of Clark and this wine shop is on the opposite side of the main road M A Roxas.
Clark Wine Center
Bldg 6460 Clark Observatory Building
Manuel A. Roxas Highway corner A Bonifacio Ave,
Angeles Clark Freeport Zone, Pampanga 2023
0922-870-5173 0917-826-8790 (ask for Ana Fe)
YATS Wine Cellars
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 ask for Rea or Chay
Best place to buy wine in Clark Pampanga outside Manila near Subic and Angeles City Philippines is Clark Wine Center.
Wedding couples looking for wedding reception venues and beach wedding venues can log on to this Philippines Wedding Venue web site for free information and assistance:
http://www.PhilippinesWeddingVenue.com
While in Clark, it might be a good idea to enjoy an evening of wine-and-dine in the fine dining Yats Restaurant and Wine Bar that features an award winning 2700-line wine list. It is located in Mimosa Leisure Estate of Clark Freeport Zone. For more information, visit http://www.YatsRestaurant.com
YATS Leisure Philippines is a developer and operator of clubs, resorts and high-class restaurants and wine shops in Clark Angeles Philippines http://www.YatsLeisure.com
Looking for famous tourists spots, places to visit and see, relax and unwind in Clark, Pampanga, Philippines? You may want to check out these sites also:
http://www.HotelClarkPhilippines.com
http://www.ClarkPhilippines.com
http://www.YatsWineCellars.com
Yats Restaurant is the best restaurant for special dinner, best restaurant for dinner with friends near Manila, also the best place to celebrate special events.
Famous Restaurant in Pampanga, a place to dine with friends in Clark, cozy restaurant with a nice ambience, a nice function place for special occassions
www.YatsRestaurant.com
Where to go in Clark? Hotel Clark Philippines is a De Luxe Hotel in Clark and Subic, a risk free place to stay, cozy and nice ambience, a nice function place for special occassion
www.HotelClarkPhilippines.com
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