Bongbong Marcos ends testimony against Lucio Tan

Manila Bulletin
February 14, 2008

Bongbong Marcos ends testimony at Sandiganbayan

Edmer F. Panesa

Ilocos Norte Rep. Ferdinand "Bongbong" Marcos Jr. yesterday presented nine certified true copies of Deeds of Sale of Shares of Stock and Deeds of Assignment covering several companies controlled by taipan Lucio Tan at the conclusion of the congressman’s direct testimony before the Sandiganbayan.The documents, which were endorsed in blank and duly notarized sometime between 1980 and 1984, were all signed by Tan, his wife Carmen, and relatives and close associates of the tycoon.

The Deeds of Sale involve bulk shares of stock that were transferred to Shareholdings Inc. from Fortune Tobacco Corp., Asia Brewery Inc., Foremost Farms, Himmel Industries Inc., Silangan Holdings Inc., and Grandspan Development Corp., making Shareholdings the holding company of the six corporations.

Bongbong, in his previous testimony, said Shareholdings was divided into three holding companies, Basic Holdings Inc., Supreme Holdings Inc., and Falcon Holdings Inc.
Yesterday, Bongbong presented to the anti-graft court’s Fifth Division hearing the ill-gotten wealth case against Tan the originals of the Deeds of Assignment covering the transfer of shares from Shareholdings to the three holdings companies.

The Marcos scion said Supreme and Falcon belonged to his father, the late President Ferdinand E. Marcos, and that the latter was the majority owner of Shareholdings, which controls six other Lucio Tan companies.

On direct examination by Presidential Commission on Good Government (PCGG) special counsel Catalino Generillo Jr., Bongbong also testified on the role of former Security Bank president and Marcos "financial executor" Rolando Gapud in the business partnership of his father and Tan.
He narrated: "In terms of Lucio Tan corporations, I remember what he (Gapud) told me that he was finalizing the 60-40 sharing arrangement between Lucio Tan and my father. He was commenting on the discussions being made between Lucio Tan and my father. He said Lucio Tan made a counter proposal that the sharing be 50-50 instead of 60-40. In the end, my father’s proposal of 60-40 sharing was followed."

This ingrate Intsik thinks he can outwit Ferdinand Marcos whose IQ was incredible but true? Certainly that if he got into a business partnership with anybody, there were documentations of ownership!