Singer Jimmy Bondoc was very vocal when it came to ABS-CBN’s shutdown.
Prior to its closure last July of 2020, the singer, who is also a supporter of and appointee of Pres. Rodrigo Duterte, already expressed his excitement that the network will be closed down. He shared this on his Facebook page where he posted a cryptic post stating that he is eagerly waiting the biggest network’s demise.
IWith his post claiming that the network ruined art and culture in the Philippines, he also stated that winners of their competitions were “pre-determined” or “manipulated”.
He also accused the Kapamilya network of involving itself in politics and sexual favors. He then claimed that its closure meant to be “real change”.
I am so excited to see the biggest tv network close down. This company is a snake pit, where success is based on…
Posted by Jimmy Bondoc on Wednesday, May 22, 2019
That same year, he also wrote that he will be happy if the network would be allowed to renew its franchise after it is cleared of the violations which the government alleged.
Pag na renew ang prangkisa ng major networks, ako po ay matutuwa. Let this be an official statement, whatever that…
Posted by Jimmy Bondoc on Wednesday, May 29, 2019
Among these “violations” were the station’s “loans” to the government-owned Development Bank of the Philippines.
This issue was raised during the hearing of the network’s franchise renewal last 2020.
With this kind of issue, DDS bloggers and fake news king Jay Sonza took this an opportunity to further discredit the network. Others also used this matter to create more damage on the Kapamilya’s credibililty, resulting in more people hating said station.
However, DBP just recently denied that they had written off loans of the Lopez Group of Companies two decades ago.
Last Monday, January 18, DBP President Emmanuel Herbosa refuted the allegation that the bank has condoned loans by the Lopez Group of Companies in the early 2000’s.
According to Herbosa, it was sold to the Lehman Brothers based on the Special Vehicle Act of 2002 or Republic Act No. 9182.
“These NPLs (non-performing loans) and NPAs (non-performing assets) were dealt with in the regular course of business and disposed of by DBP pursuant to Republic Act No. 9182, entitled The Special Purpose Vehicles Act of 2002, as amended by RA No. 9343 and other applicable laws, which authorized financial institutions, like DBP to transfer NPLs and NPAs to SPVs (special purpose vehicles) created under the Act.
“The law provided the avenue for Philippine banks to dispose [of] non-performing assets to be more liquid…. It’s not a loan condonation, we sold it with a P3.83-billion bid in favor of DBP,” said the DBP president.
With the recent statement of DPB, will the singer take back what he said against the network?
