BizBuzz: ‘Ambassador Pangilinan’ redux

Manila Mayor Joseph Estrada did more than help lift sanctions imposed by Hong Kong over the tragic 2010 bus hostage crisis, we’re told. But is the act of reconciliation enough to spill over into more touchy aspects like contested waters in the West Philippine Sea?

Businessman Manuel V. Pangilinan seems to think so. He told reporters Tuesday they were considering the resumption of talks with China National Offshore Oil Corp. (CNOOC) to jointly develop potentially vast natural gas deposits in offshore Palawan—also being claimed by China.

Talks here have stalled for Pangilinan’s Philex Petroleum but the settlement with Hong Kong might have created “a more favorable environment to revive our contact with CNOOC,” he said.

Even if that doesn’t pan out, Pangilinan has other investment opportunities to explore, including a personal investment into an NBA basketball team, The Los Angeles Clippers, amid intense public uproar over racist comments made by owner Donald Sterling.

Pangilinan, who said they were still studying whether Sterling was indeed selling, nevertheless noted  he was interested in bidding for the team, which would pit him against a slew of other deep-pocketed investors. Miguel R. Camus

Newbie at SEC

A young lawyer is joining the Securities and Exchange Commission (SEC) top brass and could now be the youngest member of the five-member en banc. He is Ephyro Luis Amatong, a lawyer from the Department of Finance with the rank of assistant secretary who joined the department only last September.

SEC chair Teresita Herbosa confirmed to Biz Buzz in a text message Amatong’s appointment to the SEC en banc, adding that this newbie has a term of seven years from the date that his predecessor’s term expired. Amatong is taking over the post vacated by Commissioner Eladio Jala, who was part of the SEC en banc since Nov. 23, 2009.

A source from the DOF said the younger Amatong has “done very well” and was “hardworking” during his stint in the department. “He’s the one assisting with legal issues regarding privatization, Customs, BIR (Bureau of Internal Revenue) matters and Office of the Secretary.” Doris C. Dumlao

Treasurer’s return

Will former National Treasurer Roberto “Bobby” Tan be back at his old post soon?

With barely six months before his two-year term as executive director to the World Bank’s board of directors ends, the buzz is that Tan may become the first to be reappointed as head of the Bureau of the Treasury when he heads back to the country from his New York stint.

“I heard from people in the Treasury, ’babalik daw si Bobby,’” shared Tan’s younger brother Raul Victor, who heads RCBC’s retail banking group.

Raul Victor, however, said he and his “kuya” have not really talked about the matter as Bobby still has until November to serve as the representative of the Philippines and eight Latin American countries sharing a seat in the multilateral lender’s board. Ben O. De Vera

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