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PHILGUARANTEE posts 182% growth in profit

Two years following its merger, state-run firm Philippine Guarantee Corp. (PHILGUARANTEE) spearheaded in its performance during the second year of the pandemic, with net income jumping by almost two-fold, the Department of Finance (DOF) reported.

PHILGUARANTEE is the result from the merger of tw ....

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PhilGuarantee doubles net income in 2021 to ₧1.37B | Bernadette D. Nicolas

STATE-run Philippine Guarantee Corp. (PhilGuarantee) more than doubled its net income to P1.37 billion in 2021, two years following the merger of agencies performing loan guarantee functions into one firm as ordered by President Duterte. Four years ago, Duterte issued Executive Order 58 approving the merger of the Home Guaranty… ....

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GOCCs allot P720 million for cybersecurity upgrade

GOCCs allot P720 million for cybersecurity upgrade
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Government allots ₧720M for cybersecurity | Bernadette D. Nicolas

THE Philippine government allocated P720 million to acquire a 2-year shared cyber-defense solution to protect public financial institutions and insurance system against hackers. The proposed cyber-defense solution for government financial institutions (GFIs) and the insurance cluster shall require the vendor to provide a 2-year service of security monitoring and management,… ....

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DOF-attached agency spared from paying dividends to NG

CITING the need to give greater financial leeway to the Philippine Guarantee Corp. (PhilGuarantee) to perform its mandate, President Duterte exempted the government-owned and controlled corporation (GOCC) from paying dividend to the national government (NG) for fiscal years 2019 and 2020. In his Executive Order 153, Duterte decided to adjust… ....

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