CATHOLIC CHURCH HAD P17.3 BILLIONS OF INVESTMENTS IN MINING, BEER, AIRLINE, REAL ESTATE AND BANKING CORPORATIONS - PHILIPPINE REPUBLIC NEWS

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Wednesday, June 27, 2018

CATHOLIC CHURCH HAD P17.3 BILLIONS OF INVESTMENTS IN MINING, BEER, AIRLINE, REAL ESTATE AND BANKING CORPORATIONS

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How rich is the Catholic Church?

One of the noted columnist Elizabeth Angsioco, President of the Democratic Socialist Women in the Philippines released proofs that will show the real "secret" riches of  Roman Catholic Church.

In her own research and supported with legitimate documents, she showed investments of some Archbishops in the Philippines holding vast shares with the top corporations in the country like BPI, Ayala, San Miguel Beer, Philippine Airlines and Philex Mining.
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Specifically, the Archbishops of Manila and Zamboanga held total shares at the Philex Mining Corporation worth P175 million.

The Catholic Church also holds a total of P17.3 billion shares in the abovestated top companies.

Oscar Cruz said that most of the investments was during the Spanish time. He added that the inheritance needs to be placed in the trusted companies to protect the money.

Angsioco lamented more knowing that the amount being held but were not know to the public, but the church still asking financial assistance from the Philippine Charity Sweepstakes Office (PCSO). She added "with what they earned, they should not asked assistance, instead the help they seek should be allotted to the poor. Yet doing that they competed with poor people"

Watch the video in this link.

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