Subic locator doubles as lending firm?

SUBIC BAY FREEPORT: Tailin Abrasives (Subic) Corp., a manufacturing company inside the Taiwanese Industrial Park here, is allegedly engaging in the lending business, allowing its employees to borrow money with questionable interest rates and the payment in installments automatically deducted from their salaries.

A current worker and a former employee, who both requested not to be named, said the two top officials of Tailin – company president Kiko Wu and its vice president Eddie Lu – are financing the lending business, charging a minimum three percent monthly interest on loans ranging from P5,000 to P50,000.