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In a prominent example of what Finance Minister Jaime Ongpin later branded "crony capitalism", the Marcos administration sold its majority shares to Marcos cronies such as Roberto Benedicto in 1982, despite being very profitable because of its role as the sole agent for the Philippines' link to global satellite network Intelsat. [6]
The first Philippine satellites were operated by private companies. The first Filipino-owned satellite is Agila-1, a satellite acquired in 1996 by Mabuhay Satellite Corporation from PT Pasifik Satelit Nusantara, an Indonesian company. The first Philippine satellite launched to space was Agila-2 which was placed to orbit in 1997.
The Philippine Aerospace Development Corporation (PADC) is a state-owned aerospace and defense technological development corporation integrated to the Department of National Defense through Executive Order No. 78, s. 2019. [1]
It is meant to provide internet connection to remote areas in the country, as well as select Philippine government agencies and infrastructure such as airports, hospitals, and police stations. [7] The first Agila satellite successfully launched from the United States on December 29, 2024 after suffering a launch abort on December 21.
Mabuhay Satellite Corporation (MSC) was a Filipino aerospace corporation responsible for operating communication satellites and before 2009, the only Philippine company to do so. It was later renamed as Mabuhay Investment Corporation (MIC) and became a holding company owned by PLDT . [ 1 ]
The satellite is named Multispectral Unit for Land Assessment (MULA). [4] MULA would be the first of a "next-generation satellites" under the Philippine space program, with the team behind the satellite building on the knowledge gained in developing the Diwata and Maya nanosatellites. [5] The investment cost for the satellite is at least US$34 ...
However, in March 1967, GTE disposed of their 28% controlling interest in PLDT. Which is why on November 7, 1967, the Philippines Telecommunications Investment Corporation (PTIC) was registered to buy GTE's controlling interest. Ramon Cojuangco, who was part of one of the most influential clans in Philippine history, was a main incorporator ...
In the Philippines, the Trade Union Congress of the Philippines is the largest union and confederation of 30 labor federations in the country which come from a wide range of sectors. [41] As of 2009, there are a total of 34,320 unions with consist of members summing up to 2.6 million. [42]