philippine news

Oct 13, 20080

Wary of GSIS ‘disclosure’

Dan Mariano
Manila Times

Winston Garcia, president and general manager of the Government Service Insurance System (GSIS), seems to have finally bowed to public pressure for him to disclose details of the state pension fund’s $1-billion Global Investment Program (GIP). … Read the rest

Oct 13, 20080

Union questions GSIS stakes in 3 Indonesian banks

Manila Times

The Trade Union Congress of the Philippines (TUCP) on Sunday questioned the Government Service Insurance System (GSIS) equity in at least three Indonesian banks, but cited the fund’s acquisition of shares in a US bank.

In a statement, … Read the rest

Oct 9, 20080

GSIS evading issues on $600-M GIP fund

Federico D. Pascual Jr.
Philippine Star

TRANSPARENCY: A secretive Government Service Insurance System is evading valid questions on its foreign placements.

Why did the $600 million invested abroad by GSIS grow only by five percent when the fund’s earning alone … Read the rest

Oct 9, 20080

TUCP also urges GSIS to bare foreign placements

Mayen Jaymalin
Philippine Star

The moderate Trade Union Congress of the Philippines (TUCP) joined the United Opposition (UNO) in calling for the Government Service Insurance System (GSIS) to disclose its foreign investments other than its reported earnings.

The GSIS announced … Read the rest

Oct 9, 20080

GSIS investments earn a P1.250-B windfall

Alfredo G. Rosario
Manila Times

When the Lehman Brothers and the American International Group (AIG) collapsed in the US, many people pestered GSIS (Government Service Insurance System) President and General Manager Winston Garcia with questions on whether the insurance firm … Read the rest

Oct 8, 20080

GSIS law on foreign investments

Honesto General
Philippine Daily Inquirer

In view of the US financial crisis, the poor and jittery members of the Government Service Insurance System (GSIS) have every right to know what is happening to the $600 million of their hard-earned money … Read the rest

Oct 6, 20080

GSIS reports 5 percent growth in investments

Philippine Star

The Government Service Insurance System (GSIS), the state pension fund for government employees, reported yesterday a five-percent increase in the total value of its investments as of last month.

GSIS said that under the agency’s global investment program … Read the rest

Oct 3, 20080

GSIS says US investment minimal but won’t disclose how much

Philippine Star

The Government Service Insurance System (GSIS) reiterated yesterday that it has no investment in the embattled US firms Lehman Brothers and American International Group.

In a statement, lawyer Estrella Elamparo, GSIS spokeswoman, said the state pension fund has … Read the rest

Oct 3, 20080

DOF to look into GFIs’ investments overseas

Iris C. Gonzales
Philippine Star

The Department of Finance (DOF) will look into government financial institutions’ investments abroad to see if they have any exposure to the US market, Finance Secretary Margarito Teves said yesterday.

“The DOF will be looking … Read the rest

Oct 2, 20080

Is $1-B GSIS global investment in peril?

Federico D. Pascual Jr.
Philippine Star

OBSTINACY: The Government Service Insurance System cannot hide behind any law, policy or plain obstinacy in refusing to disclose where it has invested contributions, reportedly running into billions, of its 1.4 million members.

It … Read the rest

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