Palace to study possible Hanjin takeover  

MANILA, Philippines – Malacañang will study the possibility of taking over the bankrupt Hanjin Heavy Industries and Construction Corp. Philippines after Defense Secretary Delfin Lorenzana said President Rodrigo Duterte was very receptive to the idea.

Presidential Spokesperson Salvador Panelo said Duterte wanted to look into the proposal.

Lorenzana disclosed in a Senate hearing that he mentioned to Duterte during a command conference at the Palace on Tuesday that the government could take over Hanjin after it declared bankruptcy this month.

READ: Takeover of Hanjin: Duterte ‘very receptive’

“What I know is when I asked Secretary Lorenzana, the President just said, “Let’s see.”

Personally, Panelo said it would be good if the government would take over the management of the shipyard in Subic.

“I think it’s okay if the government would manage it, at least for me, personally,” he said.

“If we can manage it, why not? he added. /gsg

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