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British Chamber sees challenges for PH economy until first half of 2021

ABS-CBN News
Posted at Dec 15 01:37 PM

The British Chamber of Commerce Philippines (BCCP) plans ahead to attract foreign investors next year despite seeing continued challenges for the Philippine economy until the first half of next year, a chamber head said Tuesday. Read more »

KKR still bullish on Philippines, says ready to boost investment

Warren de Guzman, ABS-CBN News
Posted at Dec 02 07:37 PM

Global investment firm KKR said Wednesday it remains bullish on the Philippines and is ready to add to the $1 billion it has already invested in the country.  Read more »

PDRs allow foreigners to invest without violating PH laws, says Monsod

ABS-CBN News
Updated as of Jun 13 04:32 AM

“It’s not an innovation or creation of ABS-CBN. This is allowed in many countries and the purpose of this is to allow foreign investors to invest without violating any laws of the land," said Atty. Christian Monsod, one of the framers of the 1987 Constitution.  Read more »

ABS-CBN legal counsel cites ‘basic difference’ between ABS-CBN's PDRs, Rappler's

Art Fuentes, ABS-CBN News
Updated as of Jun 11 11:40 PM

Atty. Cynthia del Castillo said that in Rappler’s case, it had to get approval from two-thirds of the holders of PDRs before it could change the company’s bylaws. There is no such provision in ABS-CBN’s PDRs, she said. Read more »

ABS-CBN to House: PDR holders 'passive investors,' not shareholders

Jessica Fenol, ABS-CBN News
Updated as of Jun 11 06:48 PM

Philippine Deposit Receipt (PDRs) issued by ABS-CBN Holdings are purely financial instruments and its holders are "passive investors" who have no rights to own, manage or to vote directors in ABS-CBN Broadcasting Corp, the network's legal counsel said Thursday.    Read more »

SEC agrees, dual citizens are '100 percent Filipino'

Jessica Fenol, ABS-CBN News
Updated as of Jun 08 07:23 PM

The Securities and Exchange Commission said Monday, it shared the view of the Justice Department that dual citizens are also 100 percent Filipino, its commissioner said.  Read more »

Marcoleta authored bills granting franchises to GMA, other firms older than 50 years

Mike Navallo, ABS-CBN News
Updated as of Jun 04 10:06 AM

SAGIP Party-list Rep. Rodante Marcoleta authored bills bills granting franchises to companies with more than 50-year franchises and which offer PDRs, contrary to his position on the ABS-CBN franchise.  Read more »

Solons ask: Can dual citizens own mass media in PH?

Christian Esguerra, ABS-CBN News
Posted at Jun 03 11:58 AM

ABS-CBN chairman emeritus Eugenio “Gabby” Lopez III is a natural-born Filipino who can own and participate in the management of a mass media company, a number of congressmen said as hearings resumed Wednesday on the shuttered broadcast network’s application for a new operating franchise.  Read more »

House passes bill allowing foreign ownership in telco, transport sectors

ABS-CBN News
Posted at Mar 12 01:35 AM

Local and foreign business groups hailed the House of Representatives' move of approving a bill that would allow foreign control of telecommunications and transportation companies. Read more »

‘It can be regulated’: Lawmaker on foreign ownership concerns in telco, transpo sectors

ABS-CBN News
Posted at Mar 11 07:34 PM

A Philippine lawmaker on Wednesday allayed fears that allowing foreign ownership in the telecommunications and transportation sectors will compromise national security.   Read more »

House passes bill allowing foreign ownership in telco, transport

ABS-CBN News
Posted at Mar 10 08:09 PM

The House of Representatives on Tuesday passed on third and final reading a bill seeking to allow foreign ownership of telecommunication and transportation businesses, to the dismay of dozens of lawmakers who rejected it. Read more »

ABS-CBN PDRs 'compliant' with law, as SEC says ownership rules evolving

ABS-CBN News
Updated as of Feb 25 12:25 AM

If the rules on PDRs changed since ABS-CBN Holdings Corp issued the first ones in 1999, it should be allowed to "rectify" the investment instruments to reflect the changing regulations. Read more »

Will foreign ownership of telcos influence content of mass media?

ABS-CBN News
Posted at Feb 21 12:19 AM

Several Philippine legislators and law professors expressed alarm over the possible control by foreigners of some critical industries.  Read more »

Panukalang payagan ang full foreign ownership sa telco, transport ikinabahala

ABS-CBN News
Posted at Feb 20 07:28 PM

Nababahala na ang ilang mambabatas sa maaaring panghihimasok ng mga dayuhan sa ilang industriya sa bansa ngayong isinusulong sa Kongreso na payagan ang 100 percent foreign ownership sa sektor ng telecommunications at transportasyon. Read more »

Lawmaker hits colleagues for bill allowing full foreign ownership of telco, transport firms

ABS-CBN News
Posted at Feb 20 12:31 AM

A House lawmaker criticized the passage on second reading of a bill which he suspects will lead to foreign ownership of media companies, aside from other public utilities. Read more »

House approves on 2nd reading bill allowing foreign ownership in telco, transport

ABS-CBN News
Updated as of Feb 19 05:37 PM

The House of Representatives approved Tuesday on second reading a bill seeking to allow foreign ownership of telecommunication and transportation businesses, which a left-wing solon claimed was a shortcut to a proposed charter change.    Read more »

Ex-PSE head: ABS-CBN's PDRs do not mean foreign ownership

ABS-CBN News
Posted at Feb 12 11:43 PM

The former head of the Philippine Stock Exchange explained that Philippine depository receipts (PDRs) issued by ABS-CBN Corporation does not equate to foreign ownership of the company. Read more »

Angkas nag-sorry, nagpaliwanag sa mga umano'y paglabag

ABS-CBN News
Updated as of Jan 08 07:56 PM

Humingi ng paumanhin ngayong Miyerkoles ang pamunuan ng ride-hailing app na Angkas kasunod ng bantang ipapa-blacklist sila ng gobyerno sa mga naging paglabag sa pilot testing ng motorcycle taxis.  Read more »

Angkas refuses to pick 'fight' with regulators, explains ownership

Jessica Fenol, ABS-CBN News
Updated as of Jan 08 01:47 PM

Angkas said Wednesday limiting the participants in the pilot run for motorcycle taxis risks reducing supply, as it urged government not to view its opposition to the cap as "picking a fight." Read more »

Angkas may have violated foreign ownership cap, says transport dept

ABS-CBN News
Updated as of Jan 08 08:53 AM

The operator of ride-hailing firm Angkas is "99.9 percent" owned by a Singaporean, in possible violation of a constitutional restriction that capped foreign ownership in certain businesses, the Department of Transportation said Tuesday.  Read more »