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Philippine School of Business Administration

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CHED's Official Stand

The Commission on Higher Education has sent a letter to the President of the Philippine School of Business Administration regarding its position on the controversey.

The letter states that: This has reference to a press release at the Philippine Daily Inquirer on October 02, 2006 which states that the Commission on Higher Education (CHED) will conduct its own investigation of the alleged diggings carried out by treasure hunters in your campus. Please be informed that the undersigned has not authorized any conduct of CHED investigation on that matter. For your information and signed by the Chairman of CHED, Carlito S. Puno

The School is not going to close. Feel free to download the electronic scanned document below to see the official document received by the Office of the President of the Philippine School of Business Administration.

Click here to download file

No closure for PSBA, says QC Mayor - Belmonte

The Quezon City government will not issue a closure order against the Philippine School of Business Administration (PSBA) for its alleged illegal diggings or excavations.

Mayor Feliciano Belmonte Jr. issued the statement following the outcome of the investigation conducted by the city's Department of Public Order and Safety last May 05,2006 and June 06, 2006 where the department found no traces of any illegal diggings or excavations inside the business school.

"I did not issue any order and I will not issue any closure order pertaining to the PSBA on the alleged illegal excavation issue as there is no evidence that it took place," Belmonte said.

The PSBA main building located along Aurora Boulevard, the mayor said, is safe for the students and faculty members contrary to earlier reports that it has weakened due to said digginbgs purposely for the treasure hunting.

He said that there is no need for the Commission on Higher Education (CHED) to worry on the fate of the students presently enrolled at PSBA since no transfer of students to other institutions will take place.

Earlier, Dr. Carlito Puno, CHED Chairman, asked the PSBA for a contingency plan in case the closure order is enforced by the city government.

Belmonte, at the same time, stressed that the council had not taken any position regarding the speech of Councilor Dante de Guzman entitled "Gold in the City," which he delivered last June 05 at the Carlos Albert Session Hall during the privilege hour.

The city council report, the mayor said, merely "noted" the resolution adopted by the Blue Ribbon Committee, meaning that the council simply acknowledged the existence of the measure with no official action being undertaken.

For his part, majority floor leader Antonio Inton Jr. disclosed that he and other city councilors had already expressed opposition to the move of council's Blue Ribbon Committee chaired by Councilor de Guzman for the closure of PSBA.

Inton said that the closure issue of the business school was already a "closed issue" after Belmonte declared no illegality on the reported diggings inside the school campus.

"The illegal excavation issue is already closed after the report from DPOS yielded negative traces and Mayor Belmonte had already taken a position on this issue. There is no need for students and faculty members to worry," Inton said.

Sources: Manila Bulletin, Tuesday, September 12, 2006 Page 2 by: Sel A. Baysa and The Philippine Star, Tuesday, September 12, 2006 Page 14 by: Perseus Echeminada

CHED distances self from school treasure dig row

The Commission on Higher Education (CHED) yesterday distanced itself from the controversey surrounding the Philippine School of Business Administration (PSBA) on the alleged treasure-digging inside the school campus in Quezon City.

CHEd chairman Carlito Puno said the agency has no authority to close down PSBA as petitioned by Quezon City Councilor Dante De Guzman III last Monday.

Puno Said CHED has no power to order the closure of schools with structurally defective buildings reasoning out that the agency's jurisdiction is limited to curriculum issues.

Puno said that the petition should be sent instead to Quezon City engineering officials because the issue concerns building codes. De Guzman's petition was based on QC council's blue ribbon committee resolution recommending PSBA's Quezon City campus' temporary closure.

The resolution was made after an invstigation was conducted. It reported that several tunnels were dug inside the campus on Aurora Boulevard in search of the fabled Yamashita treasure.

Reports said that the school's owner alegedly excavated tunnels in the compund several years ago based on a treasure map from World War II.

De Guzman said the tunnels pose danger to students and occupants because these might cause PSBA's structures to collapse.

Source: Manila Bulletin, Thursday, September 07, 2006 Page 5 by: JC Bello Ruiz

QC Council rows over 'Yamashita Treasure'

Quezon City Council Majority Floor Leader Ariel Inton registered his strong opposition yesterday to the recommendation of the city council's blue ribbon committee to close Philippine School of Business Administration (PSBA) in Aurora Avenue.

"I am appealing to my colleagues in the city council to be cautious and use their sense of fairness in dealing with this issue," Inton said.

Earlier, the city council's blue ribbon comittee chaired by Councilor Dante De Guzman recommended the temporary closure of PSBA to give way to an independent probe into the alleged excavations made in the school campus to recover the Yamashita treasure.

Inton said "the City Council should not allow itself to be used in the intra-corporate dispute of the PSBA board," as this is a fight between majority and minority members of the Board of Trustees of PSBA that the council should never entertain."

He said that the safety of the students should be the welfare of all. "The danger being peddled by those who want to ruin PSBA is only imaginary." "Let me assure everybody especially the students of PSBA as well as their parents and to all concerned, that the PSBA is standing on a strong ground and it is not about to collapse," Inton said.

He said the issue is already closed after Quezon City Mayor Sonny Belmonte previously said that there are no illegal excavations in PSBA as verified by the city's public order and safety department probers sent by its head Manuel Salbaza on May 5, 2006 and June 6, 2006.

"Let us abide with Mayor Belmonte's view to finally put this issue to rest," Inton said. Councilor Restituto B. Malangen also branded as "useless" and "baseless" the proposal of the city council's blue ribbon committee on the controversial digging inside the compound of the PSBA in search of the treasure.

Councilor Restituto B. Malangen, president protempore, said the recommendations raised by the committee, headed by Councilor Dante De Guzman, "is a waste of time, money, and effort." He said that De Guzman's committee made the recommendations on the heels of a denial by Mayor Belmonte of the existence of the Yamashita hoard inside the PSBA compound.

Malangen said the mayor has sent a team to verify the reported excavation and found negative traces of any illegal diggings. Earlier, De Guzman's committee urged Mayor Belmonte to engage the services of an independent contractor to check the presence of the fabled Japanese treasure.

Also, the committee asked the Commission on Higher Education (CHED) to look into the matter in consideration of public safety and welfare. A separate investigation was sought for the Office of the President, through the Department of National Defense (DND), the Department of Environment and National Resources (DENR) and the Department of Justice (DOJ) for the possibility of the existence of the treasure "or any wealth underneath."

Malangen said the committee has sought the temporary closure of the PSBA while the probe and the incidental diggings are going on. It was learned that a faculty member exposed the alleged digging saying it has no permit and endangered the lives of the students and employees owing to the building collapse.

The site of the PSBA was used to be owned by President Manuel Luis Quezon, a suspicion that a part of the Yamashita treasure could have been buried within the school grounds. De Guzman said his committee would recommend the closure of the School if the building is found to be in danger as a result of the excavations.

Source: Manila Bulletin, Tuesday, August 08, 2006 Page 5 by: Sel A. Baysa

Chairman of the Board of PSBA Resigns

Florencio I. Lim the current Chairman - Director of both PSBA - Manila and PSBA Inc., - Quezon City has submitted his resignation letter on April 01, 2006. The scanned document below is available for the guidance and information of all parties concerned.

Florencio I. Lim Resignation Letter.jpg

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