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New SSS Commissioner Ibarra Malonzo seems to have been invigorated by the PNoy administration, despite his serving during the entire reviled GMA administration as board member of the allegedly plunder-infested Technical Education and Skills Development Authority.
Malonzo, 68, a labor lawyer, has secured his own version of a midnight appointment to replace a career executive, Social Security Systems' investment chief Edgar Solilapsi, 60, as director of the publicly-listed Alliance Select Foods International Inc.
Alliance Select had to posthaste notify the Philippine Stock Exchange of the last-minute replacement, in view of the July 3 shareholders' meeting of the tuna and smoked salmon exporter.
Under the original arrangement, Solilapsi should have been replaced "in his absence" by his deputy, Rizaldy Capulong, another career SSS executive.
The government-administered fund agency has a 10.2 percent stake in Alliance Select, entitling it to a seat in the seven-member board, of whom four are held by foreigners led by George SyCip, a.k.a. the son of accounting guru Washington SyCip.
In addition to a being long-time president of the National Federation of Labor, Malonzo's secret sauce seems to be his fortunate linkage with the Diliman axis of community organizing circles of Social Welfare Secretary Corazon "Dinky" Soliman.
From 1998 up to present, Malonzo has kept his board membership in foreign-funded CO Multiversity, whose mission, in the words of chairperson Mary Racelis, "demands new partnerships...from even government and business entities engaging in all kinds of organizing and interested...in people's development."
Paul Smith boutique owner tries on a new suit
Not only is he being sued by BIR Commissioner Kim Henares for alleged tax evasion concerning the estate of his late father, but Paul Smith boutique owner Juan Miguel Ongsiako is also in litigation with his blind, wheelchair-dependent elder brother, Jose Maria.
According to court documents, Jose Maria, who is undergoing hemodialysis twice a week, is questioning his bon vivant sibling over the alleged questionable dispositions of certain properties left behind this time by their late mother, Nori Villanueva Ongsiako.
Cousins of telecom heir Antonio Ongsiako Cojuangco, the Ongsiako brothers have been locked in litigation at the Makati Regional Trial Court before Judge Cedrick Ruiz particularly over a 2008 real estate mortgage taken out of the Bank of the Philippine Islands.
To make a long story short, the Court of Appeals last month upheld the Makati judge's decision to allow the testimony of the paralyzed Ongsiako to remain in perpetuity despite the delaying tactics of the younger brother and his platoon of lawyers.
Money-go-round
o PLDT and TV5 chairman Manuel V. Pangilinan is reviewing a shortlist of banks, most likely to include BDO and Metrobank, to syndicate a $300-million facility to help fund the impending purchase of the GMA Network.
o The SGV breakaway firm, Reyes Tacandong and Co., has managed to hire the first four top notchers of the last accounting board exams away from competitors and even multinationals. RT & Co. even went a step further by placing newspaper advertisements to trumpet its top hires Manuel Buensuceso Jr. (San Beda College), Kathrine Rose Catindig (University of Santo Tomas), Grace M. Albunian and Monique Kris Villaflor (both of Technological Institute of the Philippines – Manila).
Heard through the grapevine
The decision of new Philippine Airlines president Ramon Ang to keep two daughters of PAL chairman Lucio Tan in the flag carrier while allowing Tan's daughter with his first wife, Vivienne, to retire (with a handsome early retirement package) is causing friction within the extended Tan family that could eventually whiplash on Ang.
Vivienne, on the other hand, seems to have been drawn lately to LGBT circles, to the consternation of some family members.
Email: cocktales_tv5@yahoo.com
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