Dismayed by audit reports showing the Social Security System (SSS) and Government Service Insurance System (GSIS) may not have gotten the best deal for their members when they sold their Meralco holdings for only P90 per share, the country’s biggest labor union proposed that the two state pension funds submit their marketable securities to a “Swiss challenge.”
“A Swiss challenge will allow the discovery of other potential investors who may be willing to acquire at higher prices the securities held by SSS or GSIS,” said Trade Union Congress of the Philippines president Ernesto Herrera in a statement.
The TUCP issued the statement in reaction to a Commission on Audit report that questioned the sale by SSS of its 62,990,638 shares in power firm Meralco for P5.66 billion to a newly formed entity with net assets of only P60 million.
The Meralco shares were sold at P90 each to Global 5000 Investment Corp. in December 2008.
Meralco’s stock closed last Friday at P269 per share. Jerome Aning, Philippine Daily Inquirer
January – ZERO WASTE MONTH
“Stop wasting our money.
Stop corruption!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
January
24 Jan – International Day of Education
26 Jan – International Day of Clean Energy
Monthly Observances:
National Microinsurance Month
Zero Waste Month
Weekly Observances:
Week 1: National Time Consciousness Week
Week 3: National Mental Health Week
Last Week: Children’s Week
Daily Observances:
January 6: Community Development Day
Third Sunday: Children’s Day
Day of Sanctity and Protection of Human Life
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
