Amendments to the authorized signatories of transmittal letters of sequestered/surrendered companies

2a

SUPERVISION AND EXAMINATION SECTOR OFFICE OF THE DEPUTY GOVERNOR

CirCULAr Letter

To Under BSP Supervision All Banks amd Non-Bank Financial institutions

foliowing sequestered companies: the new Mission Orders of the Cormmissiori-designated signatory involving the ng Pilipinas dated 1 February 2005, we are furnishing you copies of the amendments to the authorized signatories of transmittal 'letters of sequestered/surrendered companies covering disbursement which are pre- audited by the Commission-designated signatories, together with the copies of Commission on Good Governrnerrt, ir: her letter to the Governor, Bangko Sentral Pursuant to the request of Chairperson Haydee B. Yorac, Presidential

Name of Corporation Mission Order No. Signatory First United Transport Corporation (FUTC) HBY-CLS-2005-036 NICANOR V. SUAREZ

Incorporated (FUTI) First United Travel HBY-CLS-2005-037 NICANOR V. SUAREZ

For your guidancelreference.

NESTOR A. ESPENILVA Sector-in-Charge 2G JR

8_March 2005

Att.: A/S

Pananalaping Matatag, Bansang Panatag

A. Mabini St., Malate 1004 Manila, Phitippines * Trunkline (632) 524-70-11 @ URL:www.bsp.gov.ph * e-maif: [email protected]

T

PRESIDENTIAL COMMISSION ON GOOD GOVERNMEN5 REPUBLIC OF THE PHILIPPINES 3 18A}:13yD 2.8.1

February 1, 2005

GOVERNOR RAFAEL B. BUENAVENTURA Bangko Sentral ng Pilipinas Manila

SUBJECT :: NEW MISSION ORDER FOR PCGG COMPTROLLER

Dear Governor Buenaventura:

Relative to the signing of transmittal letters of sequestered/surrendered cornpanies covering disbursements which are pre-audited by the Commission-designated signatories. please consider the following amendments for dissemination to all commercials banks and other non-bank financial institutions:

I1. All cash withdrawals, transfer of funds, money market placements and

disbursements including rollovers/renewals, availments of credit facilities and loans, are subject to the prior consent and acknowledgement by the hereunder INCORPORATED (FUTI). The approval by said PCGG Comptroller shall, at CORPORATION PCGG designated signatory (FUTC) and of FIRST FIRST UNITED UNITED TRANSPORT TRAVEL

all times, be indicated in the withdrawal slips and/or transmittal letters covering transfer of funds, money market placements/advices or credit/loan application and other related documents. Further, said documents that are subject to pre-audit by the hereunder PCGG Comptroller need not be countersigned or approved by PCGG officials, and therefore may be transmitted directly to the depository bank(s), subject to exception as mentioned in No. 4.

M.O. No. NAME OF CORPORATION (Specimen Signature) SIGNATORY

HBY-CLS-2005-036 FIRST UNITED TRANSPORT CORPORATION (FUTC) NI&ANOR V. SUAREZ

HBY-CLS-2005-037 FIRST UNITED TRAVEL, N SUAREZ

INCORPORATED (FUTI)

2. In the absence of the above-mentioned signatory, anyone of the following documents/communications mentioned in the Number I above. signatories may sign the transmittal letters and/or The following related bank

personnel are hereby designated as ALTERNATIVE signatories:

MS. ZENAIDA B. CABRERA ceM MR. VIRGILIO S. MENDOZA

And shal be APPROVED by

DIRECTOR TERESO L. JAVIER

before these are released or transmitted to the aforementioned company.

3. In the absence of the above-mentioned signatories, DIRECTOR TERESO L. JAVIER shall countersign all documents mentioned in number 2 and shall be approved by:

COMMISSICNER CAMILO L. SABIO

4. A single disbursement/transaction exceeding the amount of FIVE MILLION (B5,000,000.00) PESOS shall need the approval of COMMISSIONER CAMILO L. SABIO or, in his absence.. of DIRECTOR TERESO L. JAVIER.

financial institutions concerned regarding the aforesaid changes which shall take effect immediately and supersede all previous instructions issued. In this connection, kindly advise all commercial banks including all non-bank

Thank you for your kind assistance.

Very truly yours.

YORAC rperson

a

PRESIDENTIAL COMMISSION ON GOOD GOVERNMENT REPUBLIC OF THE PHILIPPINES

MISSION ORDER NO. HBY-CLS-2005-037

is hereby assigned to the entity/property/asset or shares of stock listed in the column appearing opposite his name/designation, as follows: Pursuant to Executive Order Nos. 1, 2, 14 & 14-A, the hereunder personnel

Name Designation Entity/Assets

NICANOR V. SUAREZ COMPTROLLER FIRST UNITED TRAVEL, INCORPORATED (FUTD)

hereunder, to wit: Accordingly, he is ordered to perform the foilowing functions enumerated

made in accordance with established government and company To approve/sign all disbursements of corporate funds through vouchers and other documents and to see to it that all payments are policies;

2 properties and assets to ensure that no violations, irregularities, or To examine all contracts previously entered into, as well as contracts and transactions to be entered into involving company funds, anomalies have been or are committed;

3 To check and monitor all collections and ensure that these are duly

deposited;

4 To verify bank reconciliation statements of depository banks,

monthly;

6 Commissioner-in-Charge for Asset Management Department; and To submit a written monthly report to the Commission through the To perform such other duties as may be directed by the I

above-mentioned entities are concerned, and shall be valid from February 1, 2005 until December 31, 2005. This Mission Order supersedes all issued Mission Orders insofar as the Commissioner-in-Charge of the Asset Management Department. /ad

mentioned Comptroiler at any time, with or without cause, and without prejudice to the Commission. The Commission reserves its right to terminate the services of the above-

by the following: Finally, the above-mentioned Comptroller hereby commits himself to abide

L That he does not have any vested interest in, or conflict of interest with, the company to which he is assigned, inchuding its subsidiaries and affiliates, during the last five (5) years:

2 basis, with the company to which he is assigned, including its subsidiaries and affiliates, within a period of one (1) year following That he shall not accept any position, either in pamt-time or full-time the termination of this Mission Order: and

3 including its subsidiaries and affiliates, during the period of his Mission. That he shall refrain from getting his relatives up to the fourth civi! degree, be it of consanguinity or affinity, employed or involved in any business transactions with the company to which he is assigned.

Done this 1st dav of February, 2005 in Mandaluyong City

FOR THE COMMISSION

HAYD RA ia CAMILO L. SABIO

hairperson Commissioner

Conforme

NICANOR V.SUAREZ

I tos R}I}{EL XEROX1

PRESIDENTIAL COMMISSION ON GOOD GOVERNMENT REPUBLIC OF THE PHILIPPINES

MISSION ORDER NO. HBY-CLS-2005-036

is hereby assigned to the entity/property/asset or shares of stock listed in the column appearing opposite his name/designation, as follows: Pursuant to Executive Order Nos. 1, 2, 14 & 14-A, the hereunder personnei

Name Designation Entity/Assets NICANOR V. SUAREZ COMPTROLLER FIRST UNITED CORPORATION (FUTC) TRANSPORT

hereunder, to wit: Accordingly, he is ordered to perform the following functions enumerated

1 To approve/sign all disbursements of corporate funds through

vouchers and other documents and to see to it that all payments are made in accordance with established government and company policies;

2 anomalies have been or are committed; To examine all contracts previously entered into, as well as contracts and transactions to be entered into invoiving company funds, properties and assets to ensure that no violations, irregularities, or

3 To check and monitor all coliections and ensure that these are duly deposited;

4 To verify bank reconciliation statements of depository banks, monthly; "U XO}XdR1A{L8Av 5 Commissioner-in-Charge for Asset Management Department; and To submit a written monthly report to the Commission through the /91/A0 6 To perform such other duties as may be directed by Commissioner-in-Charge of the Asset Management Department. the 1N

until December 31, 2005. above-mentioned entities are concerned, and shall be valid from February 1, 2005 This Mission Order supersedes all issued Mission Orders insofar as the

mentioned Comptroller at any time, with or without cause, and without prejudice to the Commission. The Commission reserves its right to terminate the services of the above-

MisSJon Order No. HBY-CLS-2005-036 Page 2 of 2

by the foliowing: Finally. the above-mentioned Comptroller hereby commits himself to abide

1 That he does not have any vested interest in, or conflict of interest with, the company to v/hich he is assigned, including its subsidiaries and affiliates. during the last five (5) years: 2 basis, with the company to which he is assigned, including its That he shall not accept any position, either in part-time or full-time subsidiaries and affiliates, within a period of one (1) year following the termination of this Mission Order; and

3 any business transactions with the company to which he is assigned, including its subsidiaries and affiliates, during the period of his That he shall refrain from getting his relatives up to the fourth civil degree, be it of consanguinity or affinity, employed or involved in Mission.

Done this Ist day of February, 2005 in Mandaluyong City.

FOR T'HE COMMISSION

HAYDEE B. YORAO fhairperson It7C CAMILO L. SABIO Commissioner

Conform

NICANOR SUAREZ

ER HFIEL HUI XEROX YC