A subsidiary of the National Development Co. (NDC) that was found to have an “onerous” land deal with Chevron Philippines Inc. (CPI) will be abolished in 2021, the Department of Finance (DoF) said on Wednesday.
The DoF said the termination of the corporate life of NDC subsidiary Batangas Land Co. Inc. (BLCI) was approved by the NDC board in December last year upon the recommendation of Finance Secretary Carlos Dominguez 3rd.
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