Category: General

Manila: Oil siphoning from the sunken MTKR Terranova in Bataan province resumed over the weekend following a weeklong suspension due to inclement weather. In a situation report, the Philippine Coast Guard (PCG) said 1,304,878 liters of oily waste have so far been siphoned off by its contracted salvor, Harbor Star. The salvor siphoned 52,355 liters of oily waste on Saturday and 8,809 liters on Sunday. PCG Station Bataan Commander, Lt. Comm. Michael John Encina, said the oily waste siphoned was mostly water. ‘However, the siphoning operation will continue until [Tuesday] to ensure all the IFO (industrial fuel oil) cargo will

Manila: The proportion of non-performing loans (NPLs) of banks to their total loans settled at 3.58 percent in July this year, the Bangko Sentral ng Pilipinas (BSP) said. Data released by the BSP showed that the NPL ratio in July was slightly higher than the 3.51 percent seen in June this year and the 3.43 percent in July last year. BSP data showed that the gross non-performing loans reached PHP508.10 billion, up from the PHP440.07 billion in July last year. In a Viber message on Monday, Rizal Commercial Banking Corporation chief economist Michael Ricafort said the NPL ratio went up

KUALA LUMPUR, Datin Seri Rosmah Mansor today failed in her bid to have High Court judge Adlin Abdul Majid recuse herself from presiding over the US$346 million civil suit filed by 1Malaysia Development Berhad (1MDB) against her. The suit by 1MDB and 10 other companies against the wife of former Prime Minister Datuk Seri Najib Tun Razak was in relation to the purchase of luxury goods totalling more than US$346 million, allegedly obtained through the misappropriation of 1MDB funds. At today’s proceedings, Justice Adlin who rejected Rosmah’s application said the former prime minister’s wife failed to prove any real danger

KUALA LUMPUR, The government has agreed to amend the Trustee (Incorporation) Act 1952 (Act 258) and the Trustee Act 1949 (Act 208) to prevent misappropriation of funds by the established trustees for purposes such as religious, social, and welfare activities. The matter was agreed upon during today’s meeting of the Special Cabinet Committee on National Governance (JKKTN), chaired by Prime Minister Datuk Seri Anwar Ibrahim. In a statement, the Prime Minister’s Office said that the amendment to Act 208 includes the definition related to beneficial ownership, those who benefit from the trust bodies, among other things. The amendment to Act

KUCHING, The Works Ministry (KKR) is currently drafting a new National Slope Policy to replace the previous policy that expired last year, said its minister Datuk Seri Alexander Nanta Linggi here today. According to him, the policy has been proposed to take effect starting this year until 2035, taking into account current developments and more proactive measures to reduce any incidents such as landslides. “We need to have a national policy regarding slopes. We do not take it lightly because the consequences are detrimental. As a result, property can be affected and lives can be lost,” he told reporters here