Sa wakas: Marcos expected to hand over Agriculture post to BFF and fishing tycoon Francisco ‘Kiko’ Tiu Laurel Jr.

President Bongbong Marcos is reportedly set to name bilyonaryo Francisco Tiu Laurel Jr. as Secretary of the Department of Agriculture.

A Babbler said Marcos believed Laurel , owner of one of the world’s biggest deep sea fishing companies Frabelle, has the qualities he has been looking for in a DA Secretary after holding on to the post for more than a year.

Laurel is a bosom buddy of Marcos and is one the President’s top donors (P30 million) in the 2022 election.

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Marcos had previously appointed Laurel as a member of Marcos’ Private Sector Advisory Council (PSAC), a group led by business tycoon Sabin Aboitiz.

Beyond the Philippines, Laurel’s food empire extends to various countries such as Vietnam, Indonesia, Singapore, China, Japan, South Africa, Papua New Guinea, and the Solomon Islands.

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Frabelle, which was started by his father in 1972, is a key supplier to local canned tuna makers and exports a diverse range of seafood products to Africa, Europe, North America, the Middle East, and Asia. It has also moved into the processed meat business.

Laurel is also the president of Agusan Power Corp. which recently opened a 24.9-megawatt Lake Mainit hydro power plant in July with the President himself as guest of honor. Agusan Power, a joint venture between Laurel’s Markham Resources and Japanese firm Electric Power Development Co., Ltd. (J-Power), plans to install up 100 megawatts of floating solar panels in Lake Mainit with his partner local company.

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