President Duterte will hold Lopez Holdings Corporation and six other debt companies in the Development Bank of the Philippines. This was announced by the president in a speech at the 23rd anniversary of the Technical Education and Skills Development Authority (TESDA) in Taguig.
According to the president, these companies used people's money to run their businesses but they only benefited from the profits. He said he would try to "elite" the owners of these companies because they only benefited from the things that the people needed.
Lopez Holding Corporation is owned by Lopez, also owned by ABS-CBN Corporation, the nation's largest media company. The president has repeatedly criticized ABS-CBN for allegedly omitting his political advertisement during the election season.
Meanwhile, Duterte did not name six other companies.
President Duterte will urge or hold Lopez on DBP's unpaid loan, MUST READ!!!
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