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Probe sought of Home Guaranty Corp. losses

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Abakada Rep. Jonathan de la Cruz. CONTRIBUTED PHOTO/www.congress.gov.ph

A party-list representative is seeking a House probe into the alleged gross mismanagement of the state-owned Home Guaranty Corp. (HGC), which has incurred P13.3 billion in losses in the past decade.

Posted: February 2nd, 2014 in Latest Business Stories | Read More »

Putting a stop to the culture of kleptocracy

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Now we know why our farmers are poor. The report released by the Commission on Audit (COA) on the use of Priority Development Assistance Fund (PDAF), commonly referred to as the pork barrel, for the period 2006-2009 provides ample reasons for the high levels of poverty prevailing among Filipino farmers. They were simply used as “tools” for grand schemes.

Posted: October 13th, 2013 in Columnists,Inquirer Columns | Read More »

COA tells SSS to speed up processing of death, disability, retirement claims

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SSS main building in Quezon City. CONTRIBUTED PHOTO/Wikimedia.org

The Commission on Audit has aired serious concern over the slow processing of payments of death, disability and retirement claims of members of the Social Security System (SSS).

Posted: October 2nd, 2013 in Latest Business Stories | Read More »

Undermining the industry

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After years of relative calmness of the hierarchy of the Catholic Church in the Philippines, its two most high profile leaders (namely, Manila Archbishop Luis Antonio Cardinal Tagle and Lingayen-Dagupan Archbishop Socrates Villegas, who happens to be the incoming CBCP president), are suddenly voicing out disgust over the pork barrel scandal featuring the well-treated prisoner ma’am Janet Lim-Napoles.

Posted: September 4th, 2013 in Columnists,Inquirer Columns | Read More »

COA questions SEC execs’ million-peso pay hikes in ’12

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sec map

The Commission on Audit (COA) has questioned the Securities and Exchange Commission (SEC) for granting salary increases ranging from 57 percent to 250 percent—totaling P108.86 million—to its 303 officials and employees in 2012.

Posted: August 25th, 2013 in Latest Business Stories | Read More »

‘Investments made in good faith’; funds will be moved to DBP

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National Museum. INQUIRER FILE PHOTO

Everything was done in good faith. National Museum Chair Ramon del Rosario Jr. and Director Jeremy Barns said this in response to the Commission on Audit (COA) taking issue with the board of trustees’ handling of the museum’s P370-million endowment.

Posted: July 28th, 2013 in Latest Business Stories | Read More »

COA asks LTO to blacklist license plate supplier

By
gjb logo

The Commission on Audit wants a private contractor disqualified from future biddings of the Land Transportation Office for failure to comply with its contract obligation resulting in the delay in the delivery of motor vehicle license plates last year.

Posted: January 23rd, 2013 in Latest Business Stories | Read More »

SSS criticized over excessive loans, delinquencies

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The Commission on Audit has called the attention of the Social Security System to the excessive amount of loans it extended as well as its significant delinquency rate.

Posted: December 7th, 2012 in Headlines | Read More »

COA approves sale of 100-MW Iligan plant

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The Commission on Audit has finally approved the sale of the 100-megawatt Iligan diesel power plant to the Alcantara-led Alsons Consolidated Resources Inc.

Posted: October 20th, 2012 in Headlines | Read More »

COA disapproves Pag-ibig Fund’s offer of P1M bounty for Delfin Lee

By
Delfin Lee. INQUIRER FILE PHOTO

The Commission on Audit has turned down the Home Development Mutual Fund”s request for permission to put up a P1-million reward for the capture of businessman Delfin Lee, owner of the controversial housing firm Globe Asiatique Realty Holdings Corp. and now a fugitive from justice.

Posted: July 19th, 2012 in Latest Business Stories | Read More »

Home Guaranty Corp. has P12-B deficit, says COA; agency asked to avoid bond floats

By
coa

The Home Guaranty Corporation, tasked with providing shelter for the homeless and the poor, has a P12-billion deficit and may not be able to accomplish all of its duties, according to the Commission on Audit.

Posted: July 12th, 2012 in Latest Business Stories | Read More »

Highest Pagcor income short of P65M

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pagcor-logo

The Commission on Audit (COA) in its 2011 audit report has cited the Philippine Amusement and Gaming Corp. (Pagcor) for its record-breaking P36.659 billion income in 2011, its highest in 11 years.

Posted: July 1st, 2012 in Latest Business Stories | Read More »

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