State-owned Land Bank of the Philippines has drawn an aggressive asset-sale program for the year that will help lower further its acquired assets portfolio of P5.63 billion as of latest.
These are foreclosed properties now forming part of its P510.6 billion asset base which it hopes to lower further this year by another P1 billion.
Land Bank president Gilda E. Pico said the Concorde Hotel in Baguio City with an appraised value of P500 million tops the list of assets for disposal within the year.
The First Oriental Hotel in Davao City with an undisclosed appraised value has also been put up for sale. FULL STORY
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