Dennis Uy seeks gov't guarantee for P700-million loan

TYCOON. Dennis Uy, a friend of President Rodrigo Duterte, aims to expand his business even more. Malacañang file photoconfirmed that it is seeking a government guarantee to secure a P700-million loan for an acquisition of another vessel.

that it is working with the Philippine Guarantee Corporation as the group"may reach" the single borrower', banks can only loan up to 25% of its net worth to a single company to avoid overexposure and minimize risk. Chelsea Logistics did not disclose the name of the bank, but cited that it is one of the main banks which"supports the shipping industry."

It added that the guarantee to be obtained from PGC is only limited to the P700-million loan to finance a single vessel and is not related to any of its other loan obligations.

Mammonism... !?!

For Duterte legacy

What is this? Another version of behest loans?

Ganun talaga pag Crony :D

Marcos 2.0

Kawawang pinas

Why would taxpayers' money be used to guarantee your loan? Being Gongdi's new oligarch does not entitle you to fool the Filipinos!

Why grant it?

grrr bakit gobyerno ang gagarantiya taga gobyerno ba si Dennis Uy, ang negosyo bang yan ay pagaari ng gobyerno⁉️ Napakatanga na ng banko ng Pilipinas kapag pinautang ninyo si Dennis Uy!!! Patangahan na lang meron ang Pilipinas 😭

why will govt guarantee a private business aside from friend sya

Another form of corruption in the making, courtesy of dotardte returning the favor for campaign contributions.

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