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The United Coconut Planters Bank, more popularly known by its initials, UCPB, or by its old name, Cocobank, was a government-owned bank and was one of the largest banks in the Philippines, having ranked within the top twenty banks in the country in terms of assets. It was the only existing universal bank not listed on the Philippine Stock Exchange.
The Coco Levy Fund Scam was a controversy in the 1970s and 1980s in the Philippines involving former President Ferdinand Marcos and his cronies.It was alleged that Marcos, Danding Cojuangco, Juan Ponce Enrile, and others conspired to tax coconut farmers, promising them the development of the coconut industry and a share of the investments, but on the contrary used the collection fund for ...
United Coconut Planters Bank, a Philippine bank This page was last edited on 21 January 2024, at 00:26 (UTC). Text is available under the Creative Commons ...
On June 25, 2021, President Rodrigo Duterte signed Executive Order No. 142 which mandates the merging of LandBank with the United Coconut Planters Bank (UCPB), with LandBank as the surviving entity. [12] [13] However, nearly three years since and well into the Presidency of Bongbong Marcos, this seems to have been put on the backburner.
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A coconut plantation in Sipocot, Camarines Sur. Coconut production plays an important role in the national economy of the Philippines.According to figures published in December 2009 by the Food and Agriculture Organization of the United Nations, the Philippines is the world's second largest producer of coconuts, producing 19,500,000 tonnes in 2009. [1]
Andres P. Luna, FPIA. The First United Building, formerly known and still commonly referred to as Perez-Samanillo Building, is an Art Deco building on Escolta Street in Binondo, Manila, Philippines. It was designed by Andrés P. Luna, the son of renowned painter Juan Luna, and was the tallest building in Manila when it was completed in 1928.
The government alleged Cojuangco to have used the coconut levy funds to gain control of a 72.2% stake in United Coconut Planters Bank in 1975; [12] and a total stake of about 47% San Miguel Corporation in 1983, [13] in two blocks of about 20% and 27%, respectively. [10] The coco funds were also used to acquire six oil mills. [12]