"What this Country needs is not a change OF men but a change IN men" March 1980

Thursday, May 11, 2006

Allegations of PHILCOMSAT Anomaly

Vice President of the Philippine Communications Satellite Corporation (Philcomsat) Holdings Corporation (PHC) Enrique Locsin, (left) testifies before the joint hearing of the Senate Committees on Government Corporations and Public Enterprises and Public Services chaired by Richard Gordon and Juan Ponce Enrile, respectively that is inquiring on the losses incurred by the Philippine Overseas Telecommunications Corp. (POTC) and Philcomsat due to alleged anomalous improprieties in operations by their respective board of directors. With Locsin is a representative from the Minority PHC Stockholders Jose Ma. Ozamiz. (Photo by: Albert Calvelo, SENATE-PRIB)