Powers and Functions of the Company.
Section 4
SEC. 4. Powers and Functions of the Company.—The Company shall have the general corporate powers provided in the Corporation Code of the Philippines insofar as they are not inconsistent with this Decree, and such other powers as may be necessary or proper to enable it to effectively carry out its objectives and perform its powers and functions under this Decree. It shall have among others, the following powers and functions: To acquire, hold, administer, manage, mortgage and alienate personal or real property of whatever kind and nature in the Philippines or elsewhere, including property or business covered by permits and licenses granted and/or issued by the Government, the provisions of any law to the contrary notwithstanding; To receive and collect the interests, dividends, and income arising from real or personal properties, stocks, bonds, debentures, contracts, or obligations, and to possess and exercise in respect thereof all the rights, powers and privileges of ownership of such properties; To sell, transfer, or otherwise dispose, with or without bidding, for cash or on installment payment basis, real and personal property of every kind and description, including shares of stock, bonds, debentures, notes, evidences of indebtedness, and other securities or obligations of any corporation or association, whether domestic or foreign; To contract loans and issue bonds and other obligations as security therefor, and for property purchased or acquired by it or for any other object in or about its business; and to secure any bond or other obligation issued or incurred by it; To enter into contracts, with or without public bidding, with any person or entity, domestic or foreign, or with governments, for the undertaking of rehabilitation of projects, including the acquisition, by way of purchase, lease or other deferred payment arrangements, of equipment and/or raw materials and supplies, as well as for services connected therewith under such terms and conditions as it may deem proper and reasonable; To sue and be sued; To adopt and use a corporate seal; To succeed by its corporate name; and To perform such other acts and exercise such other functions as may be necessary or proper for the attainment of the primary purpose and objectives herein specified, or as may be directed by the President of the Philippines.