Memorandum Order No. 357 (1973)

MALACAÑAN PALACE

MANILA

BY THE PRESIDENT OF THE PHILIPPINES

[ MEMORANDUM ORDER NO. 357, May 18, 1973 ]

CONSTITUTING A WORKING GROUP TO STUDY AND ACT ON THE FUJITSU, LTD. PROPOSAL TO COMBINE WITH A FILIPINO FIRM FOR THE SALE, PROVISION OF TECHNICAL SERVICES AND EVENTUAL MANUFACTURE OF COMPUTER EQUIPMENT.

A working group is hereby constituted to be composed of the following:

Mr. Edgardo Tordesillas Vice-Chairman Board of Investments | Chairman Mr. Juan Sanchez National Computer Center | Member Mr. Arnulfo Ramirez Development Management Staff | Member A Representative Government Service Insurance System | Member A Representative Development Bank of the Philippines | Member A Representative National Economic Development Authority | Member A Representative Securities and Exchange Commission | Member General Manager Armed Forces Mutual Benefit Association, Inc. | Member

In dealing with the Japanese representatives, the group shall be guided by the policy and other economic guidelines set forth in the attached project description of the proposed tie-up. In particular, the following objectives shall be pursued:

1. The organization of an appropriate corporation or entity that shall represent the combined equity participation of the FUJITSU interest, and that of the government, the latter, representing initial interests for the Philippines preparatory to its being disposed to the private sector, or any particular group thereof.

2. The capitalization scheme shall be such that would enable contributions from the GSIS, the Veterans Bank and other government financial institutions.

3. That provisions be made for the eventual dispersal of government ownership in favor of the private sector.

Further instructions on this project shall be transmitted to the working group for its guidance from time to time.

All concerned are directed to act accordingly.

By Authority of the President:

(SGD.) ALEJANDRO MELCHOR

Executive Secretary

Manila, May 18, 1973