Gokongwei & Okada up for Manila Casino project

The Manila Bay Resorts at the Entertainment City will be developed by Tycoon John Gokongwei Jr. partnering with Japanese billionaire Kazuo Okada. Under the initial agreement, Robinsons Land will acquire a minority stake in Tiger Resorts, Leisure and Entertainment Inc. and majority stake in Eagle I Land Holdings Inc.

The final agreement is set to conclude on January 31, 2013. The said magnificent resort will have hotels, restaurants, commercial facilities, a budget hotel, residences, Vegas-style water fountain and an enormous indoor pool with real sand beach covered by a huge glass dome.

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Ads Zens as a MLM company

ADS ZENS was included on the list of companies that the SEC said have no license to sell securities and DTI launched an investigation into the activities of this multi-level marketing firm. On the other hand, Ads Zens operation manager Dexter Cortez clarified that the company does not sell securities but products ranging from Brazilian coffee to barley to organic soap to even equipment. He said that the company is recruiting members who can buy their products at a lower price and then re-sell it at a higher price to profit from it. Cortez also claimed that their operation is similar to Avon, Amway or Tupperware which are legitimate multilevel marketing.

Ads Zens says its business is legitimate

Pinay cotton candy magnate

In Washington, D.C., one of America’s top entrepreneurs is a pinay in the name of Nina Obana-Rodecker. She was invited to the U.S. capital to help promote business start-ups and job, aiming to help rescue the economy. Nina’s Tasty Clouds Candy Company was born when she couldn’t find a store to satisfy her craving for cotton candy when she was pregnant. It all started there and now she cornered the cotton candy business in Los Angeles capturing an A-list clientele of movie and TV stars, chefs, musicians and athletes.

Banco Filipino depositor allegedly commits suicide

Why it always happened that bank customers are being caught unaware of what’s happening on their depository banks? In the case of Banco Filipino, what precautionary measures undertaken by BSP to prevent such closure for the second time? How do they monitor all these banks who are handling people’s money especially its financial status?

Earlier reports said that Carmino Mangubat Jr. allegedly committed suicide. He had around 200,000 pesos cash deposit with Banco Filipino and blaming the recent closure of the bank according to his supposed suicide note.

How many Mangubat need to kill himself for being so helpless? How many ordinary people who tried to save money for a better life ended up killing themselves? How many soulless banks can do such a thing? What the BSP can do to prevent such happening?

Yes, PDIC will answer those depositors up to the limit of 500,000 pesos per account. But is that so? PDIC’s money is Filipino people’s money. After years of receiving people’s deposits, making wrong decisions and enriching themselves with high salaries of bank executives, the poor depositors need to wait to bring back their money the long and hard way. That’s not fair!!!

There must be no bank secrecy law that will hinder BSP in monitoring religiously and fairly all banks’ performances periodically. I think that’s one good way to protect depositors’ investments.

Banco Filipino depositor found dead; suicide suspected

Jollibee buys Mang Inasal for P3-B

Jollibee Foods Corporation, the country’s biggest food retailer, acquires 70% of Mang Inasal Philippines Inc., the owner and operator of Mang Inasal for P3-B. Hmmm! I remember the “Ma’am, Sir, rice!” This fast-growing barbeque fastfood chain has 303 restaurants all over the country. Read the rest of the story here.