Monopolies in the Philippines (1965–1986) granted PD 1468, which declared the money as private and prevented any government audit. Cojuangco bought San Miguel Corporation (SMC) with the funds from the Coco levy. SMC is one of the oldest and largest beer, food, packaging and livestock conglomerate in the Philippines. President Marcos gave favors to SMC once Cojuangco became its head. Taxes were raised for liquor and cigarettes in January 1986, but excise taxes on beer went down. Beer is one of the main products of SMC, which helped the corporation save as much as $40 million that year. When Marcos was President, he often wrote
Philippines at the 2014 FIBA Basketball World Cup on added Jay Washington to the pool, to form a 17-man squad. Larry Fonacier backed up at the training pool because of being injury-plagued, his two-year-old problem. The 17-man squad was decreased to 16 as Chot Reyes announced the 16-man squad. On August 18, 2014, the final 12-man roster was announced. "All times are local to Spain, UTC+2." Philippines at the 2014 FIBA Basketball World Cup The Philippines men's national basketball team played at the 2014 FIBA Basketball World Cup held in Spain. The 24-team tournament began on August 30, and the winner automatically qualifies for the 2016 Summer Olympics