QC rural bank closed by BSP
and safety; adoption of standard gauge, instead of narrow-gauge, in compliance with government standards to ensure seamless operations for all sections; and increase in the number of trains and change from single to dou-
explained.
The cost would also cover resettlement activities and meet the ADB and JICA’s social and environmental safeguards to ensure proper housing and welfare support for the estimated 12,901 informal-settler families that will be affected.
Compared to other railway projects in Asia, the NSCR system is more cost-effective, as it
- lometer, according to the agency. The system is expected to be partially operational by 2022 with a daily ridership of 340,000 passengers.
once the system is fully operational by 2023.
“The government will subsidize an average of P5 billion per year to cover capital, operating, and renewal costs of the project — an investment that is expected to generate substantial economic activity, create more jobs, increase incomes and deliver a more comfortable commuting experience,” NEDA said.
The joint committee instructed the Department of Transportation, as the project’s implementing agency, to put in measures that would allow the government to maximize non-farebox revenues.
The project would be brought to NEDA Board for approval. If approved, these would be added to the 50 projects it has approved as of June 2018. THE Bangko Sentral ng Pilipinas (BSP) has ordered a Quezon City rural bank closed and placed under receivership, state-run Philippine Deposit Insurance Corp. (PDIC) said.
San Francisco Del Monte Rural Bank Inc. was prohibited from doing business and its assets and affairs were placed under control of the PDIC.
The single-unit lender is headquartered in N0. 958-964 Del Monte Ave. cor. San Pedro Bautista St., Barangay Damayan, Quezon City.
Depositors of closed banks under PDIC receivership are entitled to be paid up to the maximum insurance coverage of P500,000.
The PDIC said depositors with valid accounts of P100,000 and below are eligible for early payment and need not file deposit insurance claims, except when they have outstanding obligations with the closed bank or acted as co-makers of obligations.
“Individual depositors must ensure that they have complete and updated addresses with the bank,” it said.
The San Francisco Del Monte Rural Bank Inc. was the 12th bank to be placed under PDIC receivership this year.
The Monetary Board closed seven banks in 2017 and 22 banks in 2016, placing them all under PDIC receivership.
Meanwhile, the PDIC said it is set to sell on December 6 commercial and office units of closed Export and Industry Bank and its subsidiary Urbancorp Technologies Corp. with a combined value of P3.1 billion.
It said the pieces of property are located at ExportBank Plaza strategically situated at Pasong Tamo St. cor. Sen.Gil Puyat Ave., Makati City.
“Owned by the closed Export and Industry Bank and its subsidiary Urbancorp Technologies Corporation, the commercial and office units with minimum disposal prices ranging from PP3.9 million to P321.04 million will be sold per floor along with respective parking slots,” the PDIC said.
Included in the prime pieces of property are the entire groundfloor with an area of 1,618 square meters and 24 parking slots, to be offered at a minimum disposal price of P232.99 million. Some of the commercial and office units offered are occupied by tenants/lessees, it remarked.
“A major bank, a top fastfood outlet and a convenience store are some of the current tenants at the ground floor,” the PDIC added.
Also up for sale is the entire 37th floor bundled with the penthouse, with a combined area of 1,460 square meters and minimum disposal price of P240.96 million, it said.
“Per Exportbank Plaza’s Amended Master Deed with Declaration of Restrictions, the helipad and the space above the penthouse shall be intended primarily for the benefit of the owner of said floor,” the PDIC added.
These will be auctioned “as is, where is” at the PDIC’s main office on the penthouse of the SSS Building, 6782 Ayala Ave. corner V.A. Rufino St., Makati City. Sealed bids will be accepted at the venue from 9 a.m. to 1:45 p.m., and opened starting at 2 p.m.
A bond or deposit equivalent to at least 10 percent of the submitted bid—in cash, manager’s check or a combination of both— should accompany each bid.
Bidders are advised to physically inspect lots they are interested in, examine and verify the titles and other evidence of ownership, and determine unpaid taxes, fees, charges and/or expenses before submitting their bids.
They must bring proper identification with photo and to register at least an hour before the deadline for the submission of bids.
Bid forms, conditions of bid, and the required format of the special power of attorney and secretary’s certificate may be downloaded for free from www.pdic.gov.ph.
“PDIC reserves the right to withdraw without prior notice the properties offered for sale any time before the deadline for submission of bids,” the agency said.
The proceeds will be added to the pool of liquid assets of closed banks for distribution to uninsured depositors and other creditors in accordance with the rules on concurrence and preference of credits.