Crude tactics
Article Abstract:
Oriental Petroleum and Minerals Chmn Robert Cuyiuto divulged a scheme to discredit his management of the company during the annual shareholders' meeting on Jul 17, 1992. Although Coyiuto never mentioned who was behind the smear campaign, it was easily deduced that he was referring to the Rizal Commercial Banking Corp (RCBC). The commercial bank owned by Alfonso Yuchengco helped fund the Presidential Commission on Good Government's acquisition of a portion of a two-for-one rights issue offered by Oriental Petroleum and Minerals in Oct 1991. RCBC apparently wants to prevent Cuyiuto from gaining more control over the oil exploration company.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Waiting for an opportunity
Article Abstract:
The Philippine banking industry has features that distinguish it from that of its Asian neighbors. It boasts a reservoir of skilled banking professionals whose expertise has been honed by the experience they got in working in such foreign banks in the country as Citibank N.A. and Bank of America. Moreover, out of the nation's 25 privately-owned commercial banks, 11 have foreign investors. Among these banks are the Bank of the Philippine Islands which has 20% of the holdings of J.P. Morgan Overseas Capital Corp and Solidbank Corp, which has investments from the Canadian Bank of Nova Scotia.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Life in the fast lane
Article Abstract:
Bank executives in the Philippines now often switch companies, as competition for top officers makes them more valuable and marketplace changes create exciting new opportunities. Overall competition has also increased, driving margins down, and relaxed regulations are putting a sheltered industry to the test. A new law this year is bringing 12 new foreign banks into the country, and banks are starting to compete on the strength of their distinctive financial products.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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