JUST two weeks after taking the helm at PAL Holdings Inc., Lucio “Bong” Tan Jr., died on Monday morning at the age of 53, a statement from the airline said.
Bong, the son and namesake of taipan Lucio C. Tan, had been confined at the Cardinal Santos Medical Center on Saturday, where he was rushed after collapsing at a basketball game. He was 53.
“His untimely passing leaves a big void in our hearts and our Group’s management team which would be very hard to fill,” his sister Vivienne K. Tan said of her brother’s death, which shocked the business community as he had been a sportsman since his early teens and is known as a very healthy and fit man.
“Bong was a son, husband, father, friend and, most importantly, our elder brother whom we all relied on for advice, counsel and leadership,” Vivienne said.
He was appointed to lead PAL Holdings as president and COO on October 28, replacing Gilbert Sta. Maria. The latter remained as the president of Philippine Airlines Inc., but stepped down from his post as chief of PAL Holdings Inc.
He resigned due to “personal reasons,” according to a disclosure to the stock exchange then. Bong Tan’s sister, Vivienne, is head of audit at PAL.
Bong is survived by his wife Julie and sons Lucio Tan III and Kyle Tan.
“Our sincerest thanks to all who offered prayers and shared words of comfort during this hour of grief,” Vivienne said. “We ask for your prayers for the eternal repose of his soul. Wake details will be announced soon.”
Bong Tan’s death is the second in two days among the Philippines’s taipan circle. His father Lucio Tan’s contemporary among the taipans, industrialist John Gokongwei Jr., died late Saturday night at the age of 93.
Asked about Bong Tan’s cause of death, PAL Spokesman Cielo Villaluna said “The family doesnt feel it is necessary to reveal cause of death.”
She said, “at the moment, they wish to focus on spending time with Bong.”
Malacañang on Monday issued a statement recalling Bong Tan’s commendable qualities both in his personal and professional life.
“I know personally Bong Tan, he impressed me as a very humble person with a serious mien and always ready to smile to the people he meets, and he was a good brother to all his siblings, a dutiful son and an efficient corporate man,” Presidential Spokesman Salvador S. Panelo said during a media briefing.
Prior to his appointment as president and COO of PAL Holdings, Bong Tan Jr. served as the director of the LT Group Inc. and held various posts in its other subsidiaries.
With reports from Samuel Medenilla, Recto L. Mercene
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THE supply constraints, expected global food supply shortage and rise in price of commodity prices prompted President Ferdinand R. Marcos, Jr. to extend once again the temporary tariff reduction for pork, corn, rice and coal.
“The high inflation caused by supply constraints, expected shortage in the global supply and rise in international commodity prices present economic and trade implications to the country and the Filipino people,” Marcos said in his Executive Order (EO) No. 10 signed and Dec. 29, 2022, but only released to the media Tuesday evening.
“There is a need to extend the effectivity of the reduced tariff rates on rice, maize (corn), coal, and meat of swine (fresh, chilled, frozen) to maintain affordable prices for the purposes of ensuring food security, help augment the supply of basic agricultural commodities in the country, reduce the cost of electricity, and diversify the country’s market sources,” he added.
Under the new issuance, Marcos said the Most Favoured Nation (MFN) rates for fresh, chilled, or frozen pork this year will range from 4 percent to 25 percent.
For corn, it will be from 5 to 15 percent.
The tariff rates for rice will be reduced to 35 percent, while for coal it will be at zero percent.
The said rates took effect last Tuesday and will apply for the said commodities, which are entered into or withdrawn from warehouses,
The adjusted MFNs for pork, corn and rice will last until the end. By next year, the MFNs for pork will be 5 to 40 percent; for corn, it will be from 5 to 50 percent; and for rice it will be 40 to 50 percent.
For coal, its zero tariff will be subjected to a semestral review after December 31.
“The NEDA (National Economic and Development Authority) Committee on Tariff and Related Matters shall submit to the President, through the Office of the Executive Secretary, its findings and recommendations on the matter, including analysis and monitoring of the coal market,” according to EO 10.
The tariffs for the pork and rice commodities were first lowered in 2021, while for corn and coal, it was last year,
The effectivity of the said rates were extended until the of end of 2022 through EO 171 series of 171.
THE Philippines’s outstanding debt as of end-November 2022 rose by 14.35 percent on an annual basis to a fresh record high of P13.644 trillion, latest Bureau of the Treasury (BTr) data showed.
FORMER Department of Transportation (DOTr) Secretary Arthur P. Tugade did not commit malversation of funds for the Communications, Navigation, and Surveillance/Air Traffic Management (CNS/ATM) System of the Philippine Airports, his spokesman clarified on Tuesday evening.
A REPEAT of the New Year’s Day fiasco—when technical issues partially paralyzed the Ninoy Aquino International Airport (Naia), disrupting 285 flights and affecting 56,000 passengers just for Sunday—could be prevented by a proper maintenance of resources as well as “meticulous” experts in government leadership.
