Prices of “B” or domestic sugar remain above the P1,000 per Lkg level as most of the mills have disposed of their “B” stocks this week.

Data of the Sugar Master Plan Foundation show that prices this week range between P1,027.01 and P1,070.08, a lower than last week's high of P1,118.69.

For the December 6 bidding, Binalbagan-Isabela Sugar Company sold its “B” stocks at P1,032.05 (high) and P1,026 (low); Central Azucarera de La Carlota, P1,047; Hawaiian-Philippine Company, P1,070.08 (high) and P1,069 (low);

Lucio Tan wins battle
vs. gov't over assets

MANILA – Tycoon Lucio Tan yesterday won a key Supreme Court ruling in a 21-year battle with the Philippines government for control of part of his business empire, court officials said.

The country's highest court ruled that the sequestration of disputed shares in four Tan companies -- including Allied Banking Corp., and Fortune Tobacco and Shareholdings Inc. -- was unlawful because the government did not have any proof that Tan had acquired the assets illegally.

The government sequestered the shares of Fortune and Allied Bank along with those of Tan firms Foremost Farms Inc. and Maranao Hotels and Resort Corp. in 1986, after a bloodless popular revolt sent his friend, the late president Ferdinand Marcos, into US exile.

IN GUIMARAS
Release of P35-M
rehab fund set

The Department of Social Welfare and Development is set to sign a memorandum of agreement with the provincial government of Guimaras and its five municipalities for the turnover of P33.4 million in oil spill rehabilitation fund, Regional Director Teresita Rosales said.

The amount, part of the P35 million total fund, consists of P18 million for the cash-for-work program; P10 million for livelihood projects under the Self-Employment Assistance–Kaunlaran; P2.4 million for the salaries of community facilitators; P3 million for the social preparation activities.

The amount left out of the P35 million will be used for administrative expenses.

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