From toFirst Pacific Co. After all, his media empire has a different purpose other than making money. What restrictions are they talking about? The Salim conglomerate last year bought the Philippine Star publications for P3. Your cellphone and Meralco bills have made this Indonesian a lot richer.
Salim-controlled firms — details of which will be reported in these series — hold the controlling 26 percent of PLDT, while two firms of the Japanese NTT conglomerate have 20 percent.
The group has diversified into bridge construction with its P18 billion project to build the Cebu-Cordova Bridge. Yet Echeat personal essays real ownership of this vast conglomerate has been kept hidden from the public eye. It veils the reality that a foreign firm has come to dominate profitable public utility firms, even monopolies, which our Constitution — even in its earlier versions — categorically prohibits.
I have been told that both broadcast and print media dare not cross Pangilinan, because his firms such as Meralco, PLDT, Smart account for nearly a fifth of media advertising revenues. Is it just a coincidence that Belmonte is the principal author of a resolution for the Constitution to be amended to lift all restrictions on foreign investments?
It is certainly ironic that del Rosario has cried to the highest heavens over Chinese occupation of the uninhabited Scarborough shoal, when he has helped Indonesians control key industries at the heart of the metropolis.
Where Salim has been making money: So much for the argument that foreign investments bring in much needed funds to a capital-deficit country. Yet a big chunk of his wealth is generated in another nation, the Philippines.
Salim, behind him a portrait of his father Soedono, also from forbes. Inits percent controlled Salim consortium won the project to build the Pbillion Light Rail Transit Line Cavite Extension Project, the biggest infrastructure project awarded under the Aquino Administration.
While he owns 1.
Salim, of course, need not care whether the media outfits make money or not. In partnership with the Ayala group, the Salim conglomerate has won the P1 billion projects to operate a computerized fare collection for the light-rail lines.
That the group has strived to make it known by that name, as will be explained in this series, is for a specific purpose. An Indonesian tycoon, with the help of clever lawyers and a Filipino partner acting as front man, has craftily woven his way through the loopholes in our laws and captive regulatory systems to gain control of strategic public utility firms, and even media outfits in our country.
Pangilinan—has emerged as one of the biggest conglomerates in the country today, its newest and the most aggressive. Its hospitals income from to Newest media mogul Salim, in effect, has over the past several years become the newest media mogul in our country, despite the categorical constitutional ban on foreign ownership of even a single share in a local media outfit.
The Salim group has even learned to make big money out of disease and old-age maladies. What kind of a country have we become? Aquino will be giving away central Mindanao to the MILF, who will annex the area to a state of Malaysia in a few years.
The rest of the shares are dispersed among 1, passive stockholders as stock market investments, 34 percent of which are foreign-owned and 14 percent Filipino.The Duke's In Bed, The Ellingtonians, as encountered by Steve Voce I have long admired the insightful and comprehensive obituaries Steve Voce writes for The Independent and shares with the Duke-LYM community.
The conglomerate is dominantly owned and controlled by Anthoni Salim, 66, heir to the fortune of his late father, Soedono, who was the biggest and closest crony of the late Indonesian strongman Suharto during his year regime.Download