Macapagal, nonetheless, prevented Diokno from prosecuting Stonehill by deporting the American as an alternative, then dismissing Diokno from the cupboard. Diokno questioned Macapagal’s actions, saying, “How can the government now prosecute the corrupted when it has allowed the corrupter to go?” Diokno later served as a senator. Diokno’s investigation revealed Stonehill’s ties to corruption inside the authorities.

BMBM constantly exerted management over Taishan and its subsidiaries when these entities were exporting problematic drywall to the United States. For instance, one of BNBM’s board members, Tongchun Jia, is the chairman of the board of directors and general manager of Taishan. Tongchun Jia occupies related positions with most of Taishan’s subsidiaries. Tongchun Jia’s positon with Taishan and its subsidiaries, BNBM controls the actions and operations of those entities. Even the place Tongchun Jia does not formally maintain a place with a Taishan subsidiary, BNBM is ready to exert its management over the subsidiary via Mr. Tongchun Jia’s influence. For occasion, the chairman of the board of TTP, Peng Shi Liang, was additionally an employee of Taishan.

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Operating receipts of the national authorities increased by P290 million over these of the past 12 months. Our worldwide reserves grew from a level of $103 million at the beginning of the yr to $140 million on the end, despite the big amount of overseas repayments and of our long run and preferred overseas com­mitments from $341 million to $137 million. The complete paid-up capital on new corporate investments rose from P100.6 million in 1961 to P110.three million in 1962, reflecting a rise of 9.6 per cent.

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