Saturday, August 06, 2005

Suggested Guidelines for Evaluating a Deal

Furnished below is a contribution of one of our readers which attempts to put forward a clear set of guidelines that all planholders (ie. non-educational plans included -- see pt. 1) can use for evaluating the deal that PPI and the Coalition are attempting to hammer out.

All eyes are on YGC as they asked for the negotiated settlement. The pressure is on for YGC to establish an honorable deal for all of their customers if they wish to regain their trust and win back their business.

Plan-holder Manifesto-

On 22 July 2005, it was reported on all the major broadsheets that PPI and its plan-holders will attempt to reach a settlement and that the plan holders will be paid.

So the question is: Can we now relax our guard? Do we go back to the peaceful pre-default days of just 6 months ago – BUSINESS AS USUAL?

Perhaps, this is possible but we should take refuge in the old saying: “Hope for the Best, but Plan for the Worst.”

We are told that PPI and the PEP Coalition negotiating team have agreed to negotiate to arrive at a win-win settlement and payment plan. Thus far the coverage of such a settlement appears to be exclusively applicable only to the traditional or open-ended educational plans, for both the availing and non-availing plans.

In the event that the negotiation is successful and a plan is structured, we must assume out of conservatism, that the plan needs to be presented and approved by all plan-holders, all 440,000 or so plans currently booked by PPI and the company formerly known as Lifetime Plans. This is particularly the case if the plan will involve some manner of novation of the terms and conditions of any of the plans outstanding.

Clearly, this is an ambitious hope for the best.

In the spirit of good faith negotiations, let us assume that YGC is still interested in keeping PPI as a going concern and more importantly determined to regain the trust that was lost. On the plan-holders’ part, we believe we should set-out some basic requirements in a framework to regain lost or damaged trust.

The purpose of this Manifesto (whose synonyms by the way of trivia are: policy, program, and proposal), is to set out two fundamental expectations we shall be looking for in any proposed settlement plan.

1. Equal treatment for all Plan-holders, i.e. traditional, fixed, interment, etc.

For instance, if non-availing traditional plan-holders (i.e., those that are not yet entitled to file claims) are allowed to receive their entitlement based on current value, then the same principle should apply to other non-availing fixed plans et alii.

2. Concrete steps to strengthen the financial, operational condition and ownership structure of the surviving pre-need company in order to rebuilt lost or eroded trust between the company and its plan-holders.

Some of the basic concrete action steps we are proposing are:

i. Single Entity - Consolidate the assets and liabilities of PPI and Lifetime back into a single legal entity under the same management and ownership structure.

ii. Full Accounting and Disclosure – The company PPI or preferably an independent accounting firm must audit, restate and reaffirm its current financial condition. Particularly, we need to determine the market value and liquidity profile of the various PPI trust funds and we need to know the nominal and ARL values of PPI’s outstanding plans.

iii. Strong Shareholder Support and Commitment – The shareholding of the surviving pre-need company needs to have clear and direct links to financially strong operating companies or links to reputable, high net-worth individuals. In other words, we need to reverse engineer the shareholding away from the two tier holding company structure, companies of limited financial strength and operational track record.

Alternatively, PPI can obtain strong corporate or financial guarantees from YGC companies or perhaps a continuing personal guarantee from the beneficial shareholder himself.

iv. Independent and Professional Trust Management – RCBC as trust manager for PPI funds is too close for comfort. In order to avoid acrimonious confrontations regarding the origin and rationale of the NAPOCOR bonds in the investment portfolio, we suggest that RCBC buy back these bonds from its trust unit and the proceeds can be reinvested by PPI with third party, independent and professional trust units of financial institutions not affiliated with YGC.

The fundamental question here is: Are we asking for too much?

PERHAPS, but clearly, PPI and YGC is likewise asking a lot from its plan-holders to return to a normal “business as usual’ stance.

What is undeniable and what is beyond debate is that Trust needs to be reestablished, and steps need to be taken to earn back the Trust of the plan-holders and more importantly the general investing public.

Without such a program to rebuild and regain Trust, PPI is as good as Dead Man Walking, an entity with a terminal illness, wasting away whatever assets and goodwill left in this once proud and respected body.


At Tuesday, August 09, 2005 10:59:00 AM, Anonymous Anonymous said...

Plan-holder Manifesto-
*On 22 July 2005, it was reported on all the major broadsheets that PPI and its plan-holders will attempt to reach a settlement and that the plan holders will be paid.
*We are told that PPI and the PEP Coalition negotiating team have agreed to negotiate to arrive at a win-win settlement and payment plan. Thus far the coverage of such a settlement appears to be exclusively applicable only to the traditional or open-ended educational plans, for both the availing and non-availing plans.
***The time frame given for the settlement was 15-30 days as stated in the news. It’s been 22 days since, and I am in the dark on what progress PEP and PPI has come up too. I wish to see even a flicker of light at some end of this tunnel we’re stuck. Our children schooling is still moving as ever and my installment dues are just around the corner for my quarter-mester and a month away for my tri-mester scholars. I need to arrange for a fall back should PPI call for a cease fire is a dud. I wish YGC can open an express window in their LOAN DEPT. for PPI plan holders who need to mortgage their home and other properties to use for their children’s up coming tuition fees. I am willing to settle even for the lowest appraisal of my properties and foreclosure just so my children schooling will continue with out interruption. I am willing to kiss and dance with the Loan Shark. Sorry if I’m rocking the boat but my home boat has gone belly up since, and it’s cold down here. Any news? Please?
…mighty mike

At Tuesday, August 09, 2005 2:21:00 PM, Anonymous Anonymous said...

I am not comfortable with this silence. The answer and information I need is when can I start processing for the second semester tuition fee payment? My son's on his prelim period now, and pretty soon, bayaran na naman ng tuition.

At Wednesday, August 10, 2005 2:57:00 AM, Anonymous Anonymous said...

I'm not sure if many noticed it but soon after the July 22 newspapers reported that PPI and the PEP coalition were attempting to reach a settlement, PPI already showed signs of backtracking.

Garcia, quoted in several articles, began clarifying that payments would be based on available liquidity (in other words, we had to contend with whatever could be converted into cash from whatever was there). Then their position became even clearer by Aug. 1 when several papers quoted the Yuchengcos as outrightly saying they would not infuse additional money for the settlement...HYD was quoted as saying that the trust fund was enough to finance the monetary requirements of the settlement. WHAT???? They claim the trust fund (already depleted by their mismanagement over the last 10 or so years) is expected to cover all the planholders' claims? And they get away scot-free with those inept decisions for which RCBC charged the trust fund management fees?

What about a blind item several days ago in a column in Star that mentioned a Chinese family owning a troubled preneed company as being joint partners with another company to put up a resort in Shanghai? Sila kaya ito?

And still another article reporting that BPI could still be interested in RCBC....And yet another reporting that the coming merger of Mitsubishi Tokyo Financial Group with UFJ Holdings Inc (second largest shareholder of RCBC at 17%), could change the corporate ownership structure of RCBC.

They say, where there is smoke there is fire. Well, I smell a lot of smoke so there definitely must be a fire somewhere.

If I put all these articles together, read between the lines, and try to weave a story out of it, my mind will give me oh so many scenarios, including one scenario where PPI "stages" its supposed agreement to talk with the coalition just to stall for time or to gain positive ground, or both. What for, you wonder? Could there be secret talks going on to sell RCBC to the highest bidder? Is there a move to prop up the price of its stock by showing positive news and good faith regarding their PPI company? Are they afraid that their deals would stall or fall through the cracks if the PEP Coalition had gone ahead with its plans to file charges with the BSP last July 21?

I hate to douse water on all the positive feelings of people but despite the initial hopes I held out for a settlement that would be fair and reasonable to all, the posturing of PPI in the days following July 21 combined with all related press releases, makes me suspect whether their motive in requesting for negotiations is as noble as played out in media.

I hear that the negotiating team on the part of the coalition has always been ready to sit down at table for serious talks with PPI. But it appears the coalition team has grown frustrated over these meetings being postponed several times over several days due to various reasons given by PPI which kept hedging, hewing and hawing.

I think today (Wed, Aug 10) is the "make or break" day. Unless PPI makes a sincere and serious effort to sit down at table with the coalition and come up with something substantial, the coalition could very well pull out of the talks and pursue alternative courses of action it keeps ready at hand.

At Wednesday, August 10, 2005 9:24:00 AM, Anonymous Anonymous said...

Why not post all of these in the coalition website?

para mas maayos ang discussion

At Wednesday, August 10, 2005 11:33:00 AM, Anonymous Anonymous said...

re the proposals...i don't see anything in there about punishing those responsible for this fiasco. isn't that one of the original goals of the coalition?

At Wednesday, August 10, 2005 6:08:00 PM, Anonymous Anonymous said...

I hear that the negotiating team on the part of the coalition has always been ready to sit down at table for serious talks with PPI. But it appears the coalition team has grown frustrated over these meetings being postponed several times over several days due to various reasons given by PPI which kept hedging, hewing and hawing.

I think today (Wed, Aug 10) is the "make or break" day. Unless PPI makes a sincere and serious effort to sit down at table with the coalition and come up with something substantial, the coalition could very well pull out of the talks and pursue alternative courses of action it keeps ready at hand.

Wednesday, August 10, 2005 2:57:10 AM

Next time anybody say that they’re amenable for settlement because you are about to file case against them,say, “sure manure, but I think its best that you say it to the judge”, at least its going to be fare and final. No more ifs and buts and all of their “ka ekekan”.
It was agreed that settlement is to be concluded within 15 to 30 days, right? So let’s just file ALL this criminal, Banko Central banking case, what have we, even throw in the kitchen sink and toilet bowl for posterity, after the 30 days period. Do we care if RCBC’s value diminishes to near zero before it’s sold and all their other businesses? Settlement is settled fast once it’s filed in court. And solutions to their settlement will come falling from the sky like magic, “maraming paraan pag gustong magbayad, at maraming dahilan pag hindi nakadimanda”. They have all the money to bail them selves out of this mess, its just they still see us as weak and all noise. Let us go back to our war room and continue our big plans to bring the YGC into pieces and their name flushed to the toilet bowl around the world. We have families and network in all parts of the world. The world has become smaller thru IT and if we can bring a Government out of Malacanang the last time thru texting with good reason, why not a company that rely on Trust for it’s product.
…mighty mike

At Thursday, August 11, 2005 12:05:00 AM, Anonymous Anonymous said...

You have made excellent points in your manifesto. However I sincerely doubt PPI can ever become a feasible entity after what has happened.

While I can only speculate how much new business has entered since this fiasco began, if the fact that they have been hurting in RCBC is an indicator, they are hardly getting any new business.

Yes it has been very quiet re. the negotiations but again as mentioned before (although not clearly signed in blood), PPI agreed to pay for the education of everyone this year.

Now what about the 34K traditional and 400K plan holders. Any agreement will have to take into account the entire group and should not make a distinction. If HYD is to be believed that no more money other than what is in the coffers of PPI will be given, then this is the reality.

In the end we just have to:

1. pray
2. be prepared to face the long battle should they stop negotiating

3. get more active in the Coalition
4. get even by ruining YGC reputation

At Thursday, August 11, 2005 3:40:00 PM, Anonymous Anonymous said...

Tayo ay mag-ingat. Minsan na tayong nalinlang ni yuchengco. Kung tayo ay magpapaloko muli, ito ay tunay na kamangmangan na.

At Thursday, August 11, 2005 5:49:00 PM, Anonymous Anonymous said...

lately, nothing has been said about the petition of PPI to rehabilitate. is it still an active petition? because if it is, then it's like an axe hanging on us-- approval of it will surely close our options.

naku, nakakainis talaga. malapit na ang bayaran. Yes, I agree, we need to pray hard so that the Yuchengco family will really honor its obligations to us.

At Friday, August 12, 2005 11:19:00 AM, Anonymous pikachu said...

Take a look at the coalitions website at The president's report has been posted and for those who would like to know and be updated on the developments of the negotiation, I suggest you check the site out.
I cannot blame anyone for being skeptical about the intentions of Helen Dee and cohorts as I too will remain skeptical until they come up with a settlement acceptable by the coalition of which the non-negotiable terms have been stipulated to them and can be read in Philip Piccio's report. And jst like I posted in the forum of the website last July 30 and as Philip also mentioned, should Helen decide to pull out her bag of dirty tricks and pull a fast one on us, we shall go back to the battle field as our ammunitions are ready for firing and we are just waiting for the go signal. At this stage, Helen Dee should realize that the coalition is a force to contend with and are not one to be played around with too. I know she thinks she's one tough lady, but again, she too has an Achilles heel and we know what will hurt her and her empire, so she better not try nor engage her demolition team and spin doctors again to play dirty as they always do when they see a force threatening their empire. This is a common practice of the YGC group. In business, competition is very healthy but when the YGC group, its officers and even employees resort to vicious lies, miligning and spread false rumors, using connections in the goverment, judicial system, the Insurance Commission, S.E.C. etc to destroy their competitors, they must be so desperate and downright unethical. Good corporate governance is not found in their vocabulary. They will do anything to "get ahead", or renege on their obligations. I am a witness to their vicious tricks not just with the PPI fiasco but in their other demolition jobs. And that is the reason why up to this day, I do not and will never trust the Yuchengco's ever again nor any of their corporations and the people working for them. "A TRAITOR, IS A TRAITOR, IS A TRAITOR"!!! (term borrowed from the title of Mon Tulfo's article several weeks ago on the GMA cabinet bolt).

At Friday, August 12, 2005 10:16:00 PM, Blogger Freedom Fighter said...

It has been more than 15 days since Pacific Plans (PPI for short) opened the doors to the Coalition to negotiate. If you recall YGC was reeling from negative publicity, bank runs at RCBC, loss of clientele, low sales levels at most of its insurance firms and dissention amongst its employees affected by the PPI fiasco.

Little wonder why they have sued for a “timeout”. After 2 weeks of delays to the start of formal negotiations, one can only ask why is PPI delaying its moves? If they are serious in negotiating, should they not have all their solutions and numbers waiting to be shared? And on the day of the start of the negotiations, the one person who seemed to have given the Coalition a sense of credibility, trust and genuine sincerity was nowhere to be found!

Sonny Garcia, former President of PPI (as of that memorable Tuesday) was no longer part of PPI. Though still a registered member on the negotiating panel, he has not returned any of the Coalitions phone calls nor made an appearance (last we have heard that is) in the proceedings. In fact there seems to be no explanation as to why he is no longer President of PPI. Was he in fact too nice and accommodating to the Coalition that Helen decided to dismiss him?

Not only that – PPI has added Danny Javier – a person who is known more as a singer and comedian with the famed Apo Hiking Society – as their lead negotiator. Originally hired by RCBC to help quell the “rioting” depositors, he is appearing to be PPI main man at this stage of the negotiations.

Reports from different sectors of plan holders say that sales agents of PPI are trying to coax people to start paying for their plans, even trying to sell new products. They use the “PPI is now negotiating with the Coalition” line as a way to dispel public distrust. Depositors who withdrew their money from RCBC placed them back when the newspapers published the joint statement on the negotiations. Even the stock price of RCBC has improved by more than 40% since the negotiations were announced.

Has YGC been able to lull the public and the plan holders into believing something fruitful will come out of these negotiations? Why has PPI been inconsistent in meeting with the Coalition regularly? Why did they take so long in providing the information needed by the Coalition as part of the conditions of the negotiation? Why was Garcia removed as President? Is Danny Javier for real? Is the Coalition negotiating from a position of strength? How will they balance the calls from the “hardliners” to sue versus those from the silent majority who would like to settle? And if settlement does happen, what will be acceptable to the majority of the Coalition members? Is it true RCBC is for sale and the call for negotiations bettered its stock price to the benefit of YGC?

These are but a few of the growing number of questions many of us have and will continue to raise. So I only have this to say:

We can hope for the best
Yet remain silent like the rest
Hope is a form of Faith but
Faith without Action is Wishful Thinking.

I pray that YGC is serious and will bargain in good faith. I hope our team of negotiators will see thru their guise. We know that nothing more than what is in the trust fund is left for the plan holders as Helen has repeatedly echoed in the papers.

So if push comes to shove and we are left hanging in the dust, the next call to Action must be heeded by all - for “No Quarter” must be given else no lessons will be left for others to learn.

At Saturday, August 13, 2005 1:02:00 AM, Anonymous Anonymous said...

…There are only two directions that we can take. One, is to continue to fight for our rights and two, is to negotiate. It is easy for me to continue on to fight simply because there is nothing else to consider except your planned order of battle. The Plan is ready and there is nothing else to debate on except as to when is the correct time to simply implement the war plan. On the other hand the direction to negotiate is a course, if taken, full of uncertainties and risks. The question is, is it worth taking those risks?

We are aware that there is an impending sale of RCBC to another Bank. We are also aware of the due diligence that is being done. We also continuously monitor the stock market and took note of the rise in share values of RCBC. The significant increase in trading volume of RCBC shares was also noted by us. We have also considered the various “WHAT IFS” and discussed the resulting implications or complications that might arise from it happening. The PEP coalition negotiating team continuously meets to consider and assess the various scenarios that might arise from this ever “fluid” situation.

but just the same the risks taken by me when I became President of this coalition far outweighs the risks involve now. I continue to assess and calculate these risks. The moment I get the feeling that we are being taken for a ride I and the members of the negotiating team will assure you that we will not think twice to bolt out from the negotiations. May the Lord Almighty Bless us all. Thank you


… We also continuously monitor the stock market and took note of the rise in share values of RCBC. The significant increase in trading volume of RCBC shares was also noted by us
…yes the significant increase is surely done by the YGC manipulation in the trading board. They use outside connection to buy into RCBC to prop up its trend ala inside trading in tandem with their PR Dept’s news on PPI settling with its plan holders. Neat ha?
… but just the same the risks taken by me when I became President of this coalition far outweighs the risks involve now. I continue to assess and calculate these risks.
…my three cent advice is being very careful in dealing with these corporate crooks! The risks involve to them/PPI is in Billions and it’s the only thing that seems to matter to them. It’s their God that we are taking away. We now live in the 20th century where spies, assassins and James Bond are part of these corporate crooks arsenals. Be careful of what they serve you. I suggest you take your meal before meeting them and bring your own bottled water. Your one big hurdle (“pain in the a..” pardon my pun) that they’ll love to miss. I might be “praning” about your safety in sitting with them, but that’s the way I feel about these people. I wish we have three more Presidents like you who will see this fight to conclusion. Let’s keep our guards up all the time and be ready to mobilized our plans the moment this settlement turns out to be a dud. Gud nite dude
…mighty mike

At Saturday, August 13, 2005 9:17:00 AM, Anonymous Anonymous said...

We should not allow further delays or excuses by PPI. If Garcia is really out of the picture and there is no explanation, that is already very fishy.

We must communicate this to PPI and make them aware of the consequences of their actions

At Saturday, August 13, 2005 11:28:00 AM, Anonymous Anonymous said...

From BusinessWorld Aug 12

After Bank of Tokyo's merger with UFJ Bank Ltd, it will sell the 17% stake in RCBC, a banking industry source said. Source said ING Bank was being hired to broker the sale. This indicated that the Japanese Bank will limit its exposure to the country to its overseas banking unit.

At Saturday, August 13, 2005 11:51:00 PM, Anonymous Anonymous said...

If indeed the Yuchengco's are able to sell RCBC, even better for the Coalition coz now they have the money to pay the plan holders.

However what is more important now is to continue exerting pressure. Congress hearing on Wednesday will move in that direction. HOWEVER - it was noted that less than a handful showed up in the last hearing which turned the heads of the representatives... if the public outcry is so great and the concern is genuine WHERE ARE THE PLANHOLDERS?!

So attend the hearing on Wed. Aug 17 930am Ramon Mitra Bldg. Conf. Rm 11.

At Sunday, August 14, 2005 1:15:00 AM, Anonymous Anonymous said...

I am hazarding a guess that the very positive news of settlement (as the papers termed it) served to dampen everyone's sense of urgency. People are now just waiting to see what the outcome of the negotiations would turn up. Alas, such is human nature and I suspect the other side knows this only too well.

We need an impetus to get people off their behinds and back into the halls of Congress!!! What got everyone there in the first place was outrage at what PPI did to us, outrage at the audacity of the CARE group and the paid hacks to infiltrate our blogsite and egroup, outrage at the slow reaction of the gov't agencies, outrage at press releases that painted the aggrieved parents in so many ugly ways, etc. But now that PPI appears to be negotiating towards a settlement with nothing coming out in press to cause concern, and CARE group/paid hacks have disappeared (temporarily maybe), many seem to think the worse is over.

Let's spread the news that PPI and YGC will only continue to negotiate in good faith with us if they know they can be hurt badly...again...if they tried to pull the wool once again over our eyes, if these negotiations are less than transparent, if they are merely stalling for the sake of a hidden agenda.

Let us come out in full force on August 17 (Wed) and show them that the PPI planholders are not gone just because negotiations have started. Our case is a precedent for the entire preneed industry's code of conduct and business ethics. This should also set the tone for the kind of corporate governance that should pervade this country.

At Sunday, August 14, 2005 10:16:00 AM, Anonymous Anonymous said...

Do not even think for a moment that Yuchengcos will use the proceeds of a bank sale to bankroll the settlement. They will NOT. It will just go into their personal foreign bank accounts.

After the negotiation was announced, Helen Dee has publicly said that the family will not put another centavo into PPI PEPTRAD.

At Sunday, August 14, 2005 3:43:00 PM, Anonymous Anonymous said...

gusto kong mag attend sa conress hearing sa wed. aug 17.
paano ba pupunta doon via jeep or bus?
kailangan talaga ang suporta ng lahat ng planholders para makasiguro na ang pag aaral ng ating gma anak ay mabayaran ng PPI, tulad ng nakasaad sa aking contract with PPI>
salamat po

At Monday, August 15, 2005 9:20:00 AM, Anonymous Anonymous said...

NEVER NEVER NEVER NEVER NEVER Underestimate the bad faith of the EMPRESS!! Just ask the executives at RCBC...

At Monday, August 15, 2005 12:26:00 PM, Anonymous gemini1 said...

for the one who posted: " gusto kong mag attend sa conress hearing sa wed. aug 17. paano ba pupunta doon via jeep or bus?"

From EDSA cor EAST AVE. take Fairview route (bus or jeepney), alight at BATASAN beside COA, ride tricycle to CONGRESS.

At Monday, August 15, 2005 1:04:00 PM, Anonymous Anonymous said...

"NEVER NEVER NEVER NEVER NEVER Underestimate the bad faith of the EMPRESS!! Just ask the executives at RCBC..." HAHAHAHA! You said it! Right on the button!(it's not like the other siblings also have a very honorable reputation, either)

At Wednesday, August 17, 2005 12:16:00 PM, Anonymous Anonymous said...

The Plan-holder Manifesto was understandably written with assumed good faith on both sides of the negotiating table. BOTH sides!!!

How can the negotiating team talk to PPI management headed up by the affable but surely way over his head APO member? Is he going to be accountable for any discrepancies or misdeeds done by previous management and directors? Or is he just part of the bread and circus--oops sorry! NO bread pala! Just the circus!!

The stand-still agreement was struck with Garcia, now that he is gone, who is going to fulfill the general terms of agreement crafted by the nego team vis a vis PPI?

It is beyond fishy, Was or Is Javier a director of PPI?

My four cents worth is that the standstill agreement should be declared null and void and a full blooded move towards liquidation should be initiated to accelerate the timing and to hang the sword over their heads.

Seriously, at this stage what is the risk? Liquidation is a cleansing process, painful perhaps but if done properly it should expose the true state of the company and lay bare the history of inept,inappropriate or perhaps criminal acts perpetrated in this company. It also brings forward the reality that minority investors, creditors and interests are now awakened to their condition and militant regarding their rights to protection under the law.

At Wednesday, August 17, 2005 4:21:00 PM, Anonymous Amanda said...

The PPI negotiating team in tandem with our own Coalition team are working together to craft a win-win situation--which is the precisely the goal of negotiations.

We know our team. let's get to know theirs:

Danny Javier is the chairperson of the nego meetings. Unknown to most,he has an enviable track-record as a strategist for win-win solutions - a respected solution-maker in the corporate world.

Dondon Bagatsing, the team's facilitator, a Director of GPLH Inc., painstakingly brokered and continues to nurture the on-going negotiations between the Coalition and PPI.

Joey Gomez, VP of RCBC Capital Corp and Maribel Obidos, EVP-PPI are both finance people, charged with wrestling with the numbers and financials needed towards an amicable settlement.

And Sonny Garcia, whose financial wizardy can hopefully stir the negotiations towards a productive and satisfactory end. We look forward to his active participation.

Let's give both teams a chance to craft a workable solution and continue to pray for the success of the negotiations.

At Wednesday, August 17, 2005 6:32:00 PM, Anonymous Anonymous said...

It is unfortunate that Danny Javier's credentials and sincerity are under suspicion. Let us give credit where credit is due...Danny was instrumental in getting the Ambassador to release the additional PhP 251 M needed as support tuition fee, hence the 2nd check which was a bonanza to many planholders.

Let us not prejudge people who are here to help out.

At Thursday, August 18, 2005 1:04:00 AM, Anonymous Anonymous said...

To say that All efforts of the coalition reps to the negotiations are appreciated is an understatement --- it is very much appreciated and God's gift at this point in our lives.

Just one question, in about 2 weeks time, its tuition time once again for us whose children are in trimester universities.

Will we be able to claim from PPI or to we have to once again resort to other means... Not resorting to this means in the very reason why we invested in a PPI trad plan.

I understand the negotiation is a long process but there are immediate concerns that have to be addressed.

At Thursday, August 18, 2005 1:20:00 AM, Anonymous Anonymous said...

I have been reading all the posts of the pep coalition.

I get the impression that everything seems to be getting a little complicated.

Unsolicited advice to AY : You have reached your peak as a businessman. You have proven your worth to the business community. You are a recognized taipan and philantropoist. Don't allow the PPI fiasco to destroy the good name you have worked hard for all your life... VETO ALL DECISIONS OF YOUR TOP MANAGERS, EVEN YOUR DAUGHTER'S.... YOU KNOW BETTER AND ARE MORE EXPERIENCED THAN THEY ARE ALL COMBINED... USE YOUR MORAL MIND INSTEAD OF YOUR BUSINESS MIND THIS TIME... GIVING PPI PLANHOLDERS WHAT IS DUE US WILL NOT HURT THE YCG AS MUCH AS THE BAD PUBLICITY HAS BEEN DOING !!!


At Thursday, August 18, 2005 9:05:00 AM, Anonymous Anonymous said...

We are optimistic that TF assistance for the 2nd sem will be made available soon. This is one of the critical points in the joint statement which PPI has committed to provide under "best efforts". We know that our nego team have been relentlessly working hard to get this best effort commitment a "done deal". If at all, it might not be ready for those in their 2nd tri-sem payments so advances may have to be made by planholders. Hopefully, and we fervently pray, refunds will be forthcoming at the latest by October.

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healthcare and life sciences industry.�

Among other things, this new software technology which is currently
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Information within this email contains "forwardlooking statements" within
the meaning of Section 27Aof the Securities Act of 1933 and Section 21B of
the Securities Exchange Act of 1934. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, goals, assumptions or future events or
performance are not statements of historical fact and may be "forward
looking statements". "Forward |ooking statements" are based on
expectations, estimates and projections at the time the statements are made
that involve a number of risks and uncertainties which could cause actual
results or events to differ materially from those presently anticipated.
We were paid a sum of three thousand USD to disseminate this information from
ir marketing. Forward loking statements in this action may be identified through
the use of words such as "projects", "foresee", "expects", "will", "anticipates",
"estimates", "believes", "understands" or that by statements indicating
certain actions "may", "could", or "might" occur. Risk factors include
general economic and business conditions, the ability to acquire and develop
specific projects, the ability to fund operations and changes in consumer
and business consumption habits and other factors overwhich the company has
little or no control. The publisher of this newsletter does not represent
that the information contained herein are true and correct.

At Friday, August 19, 2005 9:16:00 AM, Anonymous Anonymous said...

michelhill3202 said...
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…mighty mike

At Friday, August 19, 2005 10:50:00 AM, Anonymous Miguel said...

It is in fact a business decision more than anything else. If the Yuchengcos want their major companies to flourish, most of which are based on TRUST, then smart business people that they are, they MUST see that there is no better course of action but to settle with the planholders.
Vic Agustin already warned them about these months ago.

This way they can go about the daily affairs of there other businesses unhampered by the blight that the Pacific Plans fiaso has brought upon the entire YGC group.

RCBC shares will plummet once negotiations fall.

5 more days and counting
--the silence is deafening.
Do we commence firing?


At Saturday, August 20, 2005 11:31:00 AM, Anonymous Arnold said...

At this point, we have to be positive about the on-going negotiations and not put pressure on them. Threatening Yuchengco is a bad way help our team. Do you honestly think you can threaten YGC? He wont give a shit if he loses the majesty of his name for so long as he can laugh all the way to the bank. Do you think we can win any cases against YGC? YES! We can win ALL. But in 20 years! If you can wait, then do so. But i can't. My children who are going to college can't.

At Sunday, August 21, 2005 7:22:00 PM, Anonymous Anonymous said...

malapit na matapos ang first semester, kailan kaya namin makukuha angt check for second sem?

hoping and praying that PPI will be true to its word: may palabra de onor at babayaran ang ating karapatan.

At Monday, August 22, 2005 9:55:00 AM, Anonymous DIEGO said...

Some posters here have forgotten that the recent poll of planholders showed that a majority (2/3) of the planholders want to find ways to get their money back. Only a third of the planholders want criminal charges as their end goal.

I am one of those who want the end objective to be is to get our money back. It is so disappointing that some posters are discrediting the negotations even while it is continuing. It almost as if they want the negotiations to fail so they can pursue their own intentions or desires.

For me, any outcome without getting some form of our money back is not a victory at all. I hope and pray that the true desires of the majority of the planholders will prevail.

At Monday, August 22, 2005 8:42:00 PM, Anonymous Anonymous said...

Agree with what you said. But how much money as a percentage you willing to settle for?

At Monday, August 22, 2005 10:34:00 PM, Anonymous Shine said...

Dear HYD,

The solution is in your heart.

"When you make a mistake, don't look back at it long. Take the reason of the thing into your mind and then look forward. Mistakes are lessons of wisdom. The past cannot be changed. The future is yet in your power."

Hugh White

At Tuesday, August 23, 2005 10:46:00 PM, Anonymous Anonymous said...

Heard that Helen Dee refuses to budge - no solution was offered to meet the tuition shortfall, all other options proposed by PPI negotiating team to HYDee were not approved.

PPI only offering the Napocor bonds - in short the same old rehab proposal to all plan holders.

HYD wants a war - Let's give her one that she and old man AY can carry to her grave!

At Wednesday, August 24, 2005 7:38:00 AM, Anonymous Anonymous said...

HYD wants a war - Let's give her one that she and old man AY can carry to her grave

Yes, give her your war while we who can't wait for the legal battle ahead will suffer unlike others who can still shoulder their children's education.

At Wednesday, August 24, 2005 3:46:00 PM, Anonymous Anonymous said...


As I said in previous posts, Should there be any bad faith in the negotiations, it definitely will not be coming from the coalition. As many have expressed, including myself, HELEN YUCHENGCO DEE IS ONE PERSON YOU SHOULDN'T AND WILL NEVER EVER TRUST !!!! Many of her collegues in the business sector and even within the YGC group say that she tries to portray an image of a "dragon lady" but the truth is SHE IS A COWARD !!!!! She gives her commands through her stooges who loyally follow every word she utters in return for some hefty sums of money. But does she ever show her face (only a mother could love) to those she has victimized? Even her "enemies" in the business world have challenged her to own up to her fraudulent and unethical maneuverings but she's all bark and no bite !!!! And that is the trait of a COWARD !!!!!! I dare her to face the members of the coalition !!! Even at the renaming of Nueva St., in Binondo last July, the entire family of the Ambassador was supposed to be present, but when word got to Helen that we, the coalition paid a courtesy call to Mayor Atienza and demanded that he rescind the order to rename Nueva St. to Enrique Yuchengco St., only the Ambassador showed up. And where was Mrs. HELEN YUCHENGCO DEE AND HER SISTERS (IN CRIME)? Hiding in their gilded tower, "quivering in fear" !!!!!! If she is really Tough, then I challenge her to face us and the next opportunity to do so is in the 4th Congressional Hearing on Sept. 7, 2005.

So the negotiations have failed !!!! It did not come as a surprise to me as I predicted, they were just "negotiating in bad faith" as a delay tactic. They were hoping to revive the slump in their business, especially R.C.B.C. and maneuver their connections with the judiciary and government officials whom they have "supported" and who are indebted to the Yuchengco's !!!! Well, Ms. Helen Yuchengco Dee, your money can only take you so far in this world, but it will definitely take you to HELL where people like you belong !!!!!! Brace yourself for the GRAND HOLOCAST !!!! It will be such a pity to see the empire that your Grandfather and Father built, crumble all because of YOUR GREED AND EVIL CHARACTER !!!!! As I also said in another post, Suffering is not bad if put in the proper perspective, but when it is caused by a CALOUS WOMAN LIKE YOU, who did not have to worry where she would get her money to send her children to any school of their choice in this world, then the suffering is hard to accept !!! More so, cause this suffering is being inflicted on OUR CHILDREN !!!!! Even animals protect their young, I just wonder what kind of an animal are you ????? So again, this is A DECLARATION OF WAR !!!!!!!

At Wednesday, August 24, 2005 3:48:00 PM, Anonymous Anonymous said...

Contributed by a Planholder
(To the tune of Battle Hymn of the Republic)

Pangako ng Yuchengco’y sagot niya ang matrikula
Kapag ang anak namin ay mag a aral na
Nagbayad na kami’t pumirma pa ng kontrata
Ngayon ay binabasura nila.

Ang Yuchengco’y MANDARAYA (3x)
Sila ay walang isang salita.

Paano na ngayon ang pagaaral mo, iho,
Mukhang marami yata tayong naloko,
Hahayaan lang ba natin na tayo ay magantso?
O lalaban na tayo

Ang Yuchengco’y MANDARAYA (3x)
Sila ay walang isang salita.

At Wednesday, August 24, 2005 5:21:00 PM, Anonymous Anonymous said...

tapos na naman po ang isang tri-mester, heto na naman ang problemang bigay ng PPI ang bigyan ng stress at sleepless nights ang mga mortal na kagaya natin, meron pa kayang nababanaag na pag asang ibibigay itong PPI para sa bayaran ngayong September?

At Wednesday, August 24, 2005 6:01:00 PM, Anonymous DIEGO said...

In reaction to:

Agree with what you said. But how much money as a percentage you willing to settle for?

Personally, I am happy getting at least 80% of the current tuition fee rates. I guess this doesn't matter anymore.

What disturbs me more is the coalition's reaction to:

"PPI only offering the Napocor bonds - in short the same old rehab proposal to all plan holders."

Isn't this the gist of the negotiations that Napocor Bonds will remain and we will just find a way to loan against this? Did the coalition demand more than what was stated in the joint press release?

Lifting from the press release:

"Vic Ortuste, a member of the PEP Coalition financial team, said that
one possibility was to use PPI's Napocor bonds as collateral for a

"We have to look for a way to liquefy the bonds without selling
them. An example is taking out a loan against it (bonds)," he said."

If you look above, it was from the original line of thought that the Napocor Bonds will remain. How come negotiations have veered away from this? Was the 2/3 of the planholders who wanted to get their money back represented in any way in the negotiations or is it the 1/3 of the planholders who want a criminal suit doing the negotiations?

At Thursday, August 25, 2005 8:04:00 AM, Anonymous Anonymous said...

"Was the 2/3 of the planholders who wanted to get their money back represented in any way in the negotiations or is it the 1/3 of the planholders who want a criminal suit doing the negotiations"

that's the trouble when the minority of this coalition, but well-entrenched and moneyed, seem to never take into consideration the sentiment of those who want to have their money back. perhaps, its about time to analyze what really are the intentions behind these people who are not really bent on negotiating but postures on negotiating just to accomplish their own goals at the end.

At Thursday, August 25, 2005 8:47:00 AM, Anonymous Anonymous said...

SEC tightens watch over pre-need firm
By Zinnia B. Dela Peña
The Philippine Star 08/25/2005

Another pre-need firm has come under fire from the Securities and Exchange Commission (SEC) for its failure to submit pertinent information regarding its financial health, fuelling speculations it is facing liquidity problems like what other firms that sold open-ended plans are presently experiencing.

Tightening its noose on errant firms, the SEC has issued an order directing pre-need firm TPG Corp. to explain why no administrative sanctions should be imposed against it for failing to submit its actuarial valuation report (AVR) and annual financial statements.

The AVR is deemed important because it is used as a tool in determining the solvency of a pre-need company.

"When a pre-need company is remiss in filing its financial statements and AVR, this would only mean that it is in financial distress," an SEC official said.

TPG is the sixth pre-need firm issued a show-cause order by the SEC for violation of the rules governing pre-need plans.

The companies that were earlier issued a show-cause order are College Assurance Plan Phils. Inc., AMA Plans, Primanila Plans, Pryce Plans and Platinum Plans.

The SEC has been keeping a close watch on pre-need companies, following the collapse of the Yuchengco-owned pre-need firm Pacific Plans and Platinum, to safeguard the interest of the investing public.

TPG is set to meet with SEC officials to make a presentation on its financial position.

TPG, which owns Professional Financial Plans, has introduced a new plan called Scholars Trust Fund with Equitable Pay-out for Unified Prevention(STEP-UP) intended to address the problem of continued availments by planholders of open-ended educational plans and ensure that more scholars still benefit from their plans.

TPG said the program, which proposes a 15-percent cap on the average return on gross price for planholders, ensures equitable pay-out to both availing and non-availing planholders. It currently has about 20,000 planholders.

TPG is likewise in the final stages of completing a program that calls for preserving the company’s trust fund and reserving a portion of planholders’ availment benefits as equity in the company.

"The STEP-UP program seeks to define the allocation of availment benefits based on the priorities and concerns of the scholars. At the end of the day, availment benefits may not be based on actual returns but rather a balance between both returns and liquidity," TPG said.

TPG’s STEP-UP program was adopted following a resolution submitted by the Philippine Federation of Pre-Need Plan Companies, Inc. (PFPPCI) to the SEC, calling for member firms to put a ceiling on open-ended education benefits.

TPG said there has been a dramatic increase in miscellaneous fees, which in many cases account for 30 percent of total availments.

Industry estimates show that without a ceiling on availment returns, only one out of 20 open-ended plan scholars will get a chance to go to school.

"It is this situation that provided us with a framework for a program that redefines pay-outs to planholders," TPG said.

PFPPCI officials said the uncontrolled tuition increase that began in 1993 had inflicted great damage to the pre-need industry.

Industry studies on tuition increases in the country showed that from 1990 to 1995, the average tuition increases among private higher education institutions was estimated to have hit 275 percent.

Likewise, records from the Commission on Higher Education (CHED) showed that over the past five years, tuition hikes had averaged 12 percent annually. At this rate, the national average tuition per unit would have risen by 1,257-percent rise since 1990.

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At Saturday, April 15, 2006 2:36:00 PM, Anonymous Anonymous said...

its been a year na... any updates???

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At Friday, May 19, 2006 6:01:00 PM, Anonymous Anonymous said...

i've watched the big picture @ anc last night, I watched it again this morning. There's no way you can be wrong guys. We should make these economic monsters realize that to fight for our children's future is the fight of our lives as may make or break the future of this economically fragile nation. I bought contract with another preneed company and certainly I will not want this to happen to me too. All Filipinos should support your cause not only because we are plan holders may it be from the Pacific plans or other competing preneed companies but as a nation as this is clear microcosm of how things are ran in the government. We are proud some Filipinos still value heroism as you guys do. MABUHAY!!!

At Saturday, June 10, 2006 12:33:00 PM, Anonymous Anonymous said...

They have stopped the forum in the website because it looks like the monsters (oops baka ma-libel nanaman kayo nyan) er, i take that back, ummmm, "the opposition" (no offense to the guys in the political opposition to GMA) is scouting the forum for ammunition to use against the coalition. Maybe for more libel suits? who knows. could we maybe continue the forum here while the forum in the website is down? For sure, wala nang nagmomoderate dito because everybody is in the website na. what do you say, folks? call me Guest, Lance Guest.

At Monday, June 25, 2007 5:12:00 PM, Anonymous Anonymous said...

pacific plans ruined my dreams.. i had two terms left in school. but they refused to give out checks. i was able to graduate, but the school decided to keep my degree. so here i am working in a call center.. trying to make enough to support my parents... its not easy.. my dreams were shattered.. and the funny thing is the representatives of the company show not even one ounce of empathy to the plan holders... all i want is to be a chef again.. but without my degree i cannot enter the industry with my school's blessing. so pacific plans.. thanks for nothing...

At Monday, June 09, 2008 8:00:00 PM, Blogger SHYKATE said...

Anybody can share us about TPG's Planholder claims? Thank you.

At Wednesday, April 01, 2009 5:29:00 PM, Anonymous Anonymous said...

May you should consider asking them for the principal amount back instead of hoping for a hundred percent interest in your edu plans. I believe it's the government's fault that's why this is happening. If the government didn't let the schools raise their tution fees to exhorbitant levels , i don't think the PPI would have any problems paying you all. I for one don't beleive in insurance plans since I feel that they are just full of talk. I'm sorry but really, shouldn't all of you not depend so much on insurance plans since it's really not helping at all? It's just like banks, shouldn't depend on one, but spread your investments. Too late to do anything since all of you are stuck with this one.
Sorry if I sounded too uncaring and reprimanding, but I feel that you all should think of other ways rather than waste your time fighting a useless battle since I know that here in this country, nothing happens. Maybe, you should find ways to lessen your stress and burdens.

At Sunday, August 09, 2009 11:08:00 AM, Blogger ariel said...

sana po matulungan nyo ako. Regarding sa lifetime pacific plans sana maadvisan po ako.. may galing dito sa bahay rep. daw ng APEC (Abundance Providers & Enterprenuers Corporation) sila daw po ang nakabili sa lifetime Pacific Plans. at nag offer na surreder ko daw po ang policy ko at certificate ng full payment at magbigay sila ng PHP.75,000. 2001 KO PA PO START NA HULUGAN YUN 12,348 EVERY QUARTER IN 5 YEARS>>Tapos ang makukuha ko lang 75,000.00 sobra naman pong malaki ang mawawala sa akin.. sana po maadvisan nyo po ako, ano po magandang gawin.. salamat po. pinag ipunan ko po yun para sa kinabukasan ng anak ko..

At Sunday, February 21, 2010 9:21:00 PM, Anonymous Ruben said...

Any updates for the status of this Pacific Plans intention of paying us any amount for our investment.
Kindly send me any contact & address, email address to this group of PEP coalition.
Kindly send to

Ben Miano

At Tuesday, May 11, 2010 9:48:00 PM, Anonymous Anonymous said...

Plan Holder din ako for college plans, Last mail ng pacific sa akin is last 2007 pa ata, sinabi nila na magbabayad in 2010 pero til now wala pa silang mail, and wala na din silang contact number or any contact na pwedeng pagtanungan, saan po ako pwedeng humingi ng tulong? Sana may magpost kung pano ako makakasali dun sa organization ng mga plan holders, gusto ko sanang makiisa. - karls/09276716405

At Thursday, May 27, 2010 2:20:00 AM, Anonymous yangiwei said...

At Thursday, October 28, 2010 3:23:00 PM, Anonymous Anonymous said...

anyone here received their check in US DOLLARS as payment for open ended educational plan? thanks.

At Saturday, February 05, 2011 6:39:00 PM, Anonymous maria irene cao said...

Hi, my Dad is a plan holder & wanting to know the status of his account.

At Tuesday, October 11, 2011 3:15:00 PM, Anonymous Anonymous said...

last month, it was all over Singapore that the facebook and yahoo accts of 2 prominent filipinos, Paul Monozca and Rico Hizon were hacked. Bad blogs and messages were fabricated and it was revealed last week that the culprit was Marco Yuchengco Santos, a grandson of ambassador Yuchengco. No one believed it at first as he was a friend to both gentlemen and a yuchengco at that but little did anyone knew he is wanted for a failed drug deal with the military in manila and he was a drug addict desperate for money to buy drugs. He has since fled overseas (I heard he is also looking for a job in Singapore) to escape the authorities. It was also revealed Marco Yuchengco Santos is responsible for hacking into RCBC bank, Malayan insurance and Pacific Plans defrauding millions from its members. He uses bogus titles from companies that he set up which have already closed down or companies he was fired from: edsamail, touchmedia, IPVG etc. (being vice-chairman of non-existent companies)His modus operandi is to make his friends fight against one another via facebook or yahoo, including some family members and he would ask a fee to stop it. hayop sa racket! this is the yuchengco name we bought plans from?????????? all 34,000 of us ?????????????

At Saturday, April 07, 2012 8:24:00 PM, Anonymous Anonymous said...

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At Saturday, April 07, 2012 9:03:00 PM, Anonymous imtiyaz said...



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Hi there my two nephews has educational plans too. Now my brother is temporarily disabled because of a heart ailment. We are in dire need of financial solutions. Can you advise us what to do? Thank you so much. Joseph 09054844019

At Monday, July 11, 2016 6:56:00 AM, Blogger Sets Shaibu said...


I was not sure of getting a legit loan lender online But when i could not face my Debt any more, my son was on hospital bed for surgery that involve huge money and i also needed some money to refinance and get a good home then i have to seeks for Assistance from friends and when there was no hope any more i decide to go online to seek a loan and i find VICTORIA LAWSON Trust Loan Firm ( with 2% interest Rate and applied immediately with my details as directed. Within seven Days of my application She wired my loan amount with No hidden charges and i could take care of my son medical bills, Renew my rent bill and pay off my debt. I will advice every loan seeker to contact VICTORIA LAWSON LOAN Company with For easy and safe transaction.

*Full Name:_________



*loan amount:_________

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*Purpose of loan:_________

*Monthly Income:__________


*Next of kins :_________

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