View source for Government-owned and controlled corporation

{{Short description|State-owned enterprise in the Philippines}}
In the [[Philippines]], a '''government-owned and controlled corporation''' ('''GOCC'''), sometimes with an "and/or",<ref name="OfficialGaz">{{Cite web |title=Government-Owned and/or Controlled Corporations |url=http://www.gov.ph/directory/government-owned-andor-controlled-corporations |url-status=dead |archive-url=https://web.archive.org/web/20150526091508/http://www.gov.ph/directory/government-owned-andor-controlled-corporations |archive-date=May 26, 2015 |access-date=July 29, 2017 |website=Official Gazette |publisher=Republic of the Philippines}}</ref> is a [[state-owned enterprise]] that conducts both commercial and non-commercial activity. Examples of the latter would be the [[Government Service Insurance System]] (GSIS), a [[social security system]] for government employees. There are 219 GOCCs as of 2022.<ref name="BW2015">{{Cite news |last=Lopez |first=Melissa Luz T. |date=May 25, 2015 |title=State-run corporations only remitted a tenth of dividends |work=BusinessWorld |url=http://www.bworldonline.com/content.php?section=Nation&title=state-run-corporations-only-remitted-a-tenth-of-dividends&id=108478 |access-date=July 29, 2017}}</ref> GOCCs both receive subsidies and pay dividends to the national government.
A government-owned or controlled corporation is a stock or a non-stock corporation, whether performing governmental or proprietary functions, which is directly chartered by a special law or if organized under the general corporation law is owned or controlled by the government directly, or indirectly through a parent corporation or subsidiary corporation, to the extent of at least a majority of its outstanding capital stock or of its outstanding voting capital stock.
Under the GOCC Governance Act (Republic Act No. 10149), GOCCs are overseen by the [[Governance Commission for GOCCs|Governance Commission for Government-Owned or Controlled Corporations]] (GCG).<ref name="Inq2015">{{Cite news |last=Cayabyab |first=Marc Jayson |date=May 25, 2015 |title=House passes DBP, LBP merger bill |newspaper=Philippine Daily Inquirer |url=http://business.inquirer.net/192501/house-passes-dbp-lbp-merger-bill |access-date=May 26, 2015}}</ref> The Governance Commission is the "government's central advisory and oversight body over the public corporate sector" according to the Official Gazette of the Philippine government.<ref>{{Cite news |date=October 22, 2014 |title=President Aquino approves closure of 7 nonperforming GOCCs |agency=Official Gazette |url=https://www.officialgazette.gov.ph/2014/10/22/president-aquino-approves-closure-of-7-nonperforming-goccs/ |access-date=May 26, 2015}}</ref> The Governance Commission among other duties prepares for the [[president of the Philippines]] a [[shortlist]] of candidates for appointment by the president to GOCC boards.<ref name="Inq2015" />
Many but not all GOCCs have their own charter or law outlining its responsibilities and governance.<ref>{{Cite news |date=June 6, 2014 |title=GCG marks third year as overseer of GOCC sector |agency=Official Gazette |url=https://www.officialgazette.gov.ph/2014/06/06/gcg-marks-third-year-as-overseer-of-gocc-sector/ |access-date=May 26, 2015}}</ref>
== Finances ==
[[File:GOCC 2014 OPERATING SUBSIDIES AND PROGRAM FUNDS.jpg|thumb|300px|2014 operation subsidies and program funds that GOCCs received from the national government]]
GOCCs receive from the government "subsidies" and "program funds".<ref name="GovComFundsInfo">{{Cite web |title=GOCC 2014 OPERATING SUBSIDIES AND PROGRAM FUNDS |url=http://www.gcg.gov.ph/site/pressreleases/view/19 |url-status=dead |archive-url=https://web.archive.org/web/20150526093313/http://www.gcg.gov.ph/site/pressreleases/view/19 |archive-date=May 26, 2015 |access-date=May 26, 2015 |website=Governance Commission for GOCCs}}</ref> Subsidies cover the day-to-day operations of the GOCCs when revenues are insufficient while program funds are given to profitable GOCCs to pay for a specific program or project.<ref name="GovComFundsInfo" />
Subsidies from the National Government in 2011 amounted to 21 billion [[Philippine peso]]s.<ref name="BusinessMirror">{{Cite news |last=Cabuag |first=V.S. |date=March 8, 2012 |title=Government subsidies to GOCCs grew by 155% in 2011 |work=BusinessMirror |url=http://businessmirror.com.ph/home/top-news/24303-japan-hits-rp-for-auto-tariffs |access-date=July 5, 2012}}{{dead link|date=March 2017 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> In the 2013 fiscal year, the national government gave P71.9 billion pesos to GOCCs in subsidies, nearly twice the 44.7 billion pesos that was programmed in the budget.<ref name="BW2015" /> In 2014, 77.04 billion pesos was spent on GOCCs by the national government, 3% of which was classified as subsidies and 97% was classified as program funds.<ref name="GovComFundsInfo" />
In 2013, on "GOCC Dividend Day", the Philippine government received 28-billion [[Philippine peso]]s in dividends and other forms of remittances from the 2012 operations of 38 GOCCs.<ref name="OPP2013">{{Cite news |date=June 3, 2013 |title=President Aquino receives P28-billion representing dividend contributions from 38 Government-Owned and Controlled Corporation in Malacañang |agency=Office of the President of the Philippines |url=http://pcoo.gov.ph/archives2013/jun03.htm#dividend |url-status=dead |access-date=May 26, 2015 |archive-url=https://web.archive.org/web/20130806190312/http://pcoo.gov.ph/archives2013/jun03.htm#dividend |archive-date=August 6, 2013}}</ref> Eight GOCCs remitted 1 billion pesos each: [[Philippine Reclamation Authority]] (PRA)(P1 billion pesos), [[Philippine Ports Authority]] (PPA)(1.03-billion), [[Manila International Airport Authority]] (MIAA)(P1.54-billion), [[Philippine Amusement and Gaming Corporation]] (PAGCOR) (P7.18-billion), [[Power Sector Assets and Liabilities Management Corporation]] (PSALM)(P2-billion), [[Bases Conversion Development Authority]] (BCDA)(P2.30-billion), [[Development Bank of the Philippines]] (DBP) (P3.16-billion) and [[Land Bank of the Philippines]] (LBP) (P6.24-billion). Under Republic Act No. 7656, all GOCCs are required to "declare and remit at least 50% of their annual net earnings as cash, stock or property dividends to the National Government."<ref name="OPP2013" /> The [[Commission on Audit of the Philippines|Commission on Audit]] reports that in 2013 of the 219 profitable GOCCs, only 45 remitted a full 50% share of their dividends to the national treasury, leaving 174 others with unremitted government shares, amounting to more than P50 billion.<ref name="BW2015" /> Dividends remitted were only one-tenth (1/10) of the total required by law according to the commission.<ref name="BW2015" />
In 2014, on "GOCC Dividend Day", the Philippine government received 32.31 billion Philippine pesos worth of dividends and other remittances from 50 GOCCs.<ref name="Gazette2014">{{Cite news |date=June 9, 2014 |title=GOCCs remit P32.31B to National mslajjxja boopy koTreasury |publisher=Philippine national government |agency=Official Gazette |url=https://www.officialgazette.gov.ph/2014/06/09/goccs-remit-p32-31b-to-national-treasury/ |access-date=May 26, 2015}}</ref> Seven GOCCs submitted over a billion pesos each: [[Development Bank of the Philippines]] (DBP) with P3.616 billion; [[Power Sector Assets and Liabilities Management Corporation]] (PSALM) with P2.5 billion; [[Bases Conversion Development Authority]] (BCDA) with P2.107 billion; [[Manila International Airport Authority]] (MIAA) with P1.577 billion; [[Philippine National Oil Company-Exploration Corporation]] (PNOC-EC) with P1.5 billion; [[Philippine Ports Authority]] (PPA) with P1.422 billion; and [[Philippine Deposit Insurance Corporation]] (PDIC) with P1.05 billion.<ref name="Gazette2014" />
== List ==
{{see also|Category:Government-owned and controlled corporations of the Philippines}}
List adapted from Integrated Corporate Reporting System's list.<ref>{{Cite web |date=June 28, 2022 |title=Classification of GOCCs by SECTORS as of 28 June 2022 |url=https://icrs.gcg.gov.ph/files/5WR9T5r1kwvDzbhcOeYm.pdf |access-date=January 25, 2023 |website=Integrated Corporate Reporting System |publisher=[[Governance Commission for GOCCs]] }}</ref><ref name="BusinessMirror2">{{Cite news |last=Cabuag |first=V. S. |date=July 1, 2012 |title=Subsidies to GOCCs declined in May |work=BusinessMirror |url=http://businessmirror.com.ph/home/banking-a-finance/29312-subsidies-to-goccs-declined-in-may |url-status=dead |access-date=July 5, 2012 |archive-url=https://web.archive.org/web/20141129192526/http://businessmirror.com.ph/home/banking-a-finance/29312-subsidies-to-goccs-declined-in-may |archive-date=November 29, 2014}}</ref>
=== Government financial institutions ===
==== Banking institutions ====
*[[Al-Amanah Islamic Bank|Al-Amanah Islamic Investment Bank of the Philippines]] (AIIBP)
*[[Development Bank of the Philippines]] (DBP)
*DBP Data Center, Inc. (DCI)
*[[Land Bank of the Philippines]] (LBP)
*Land Bank Countryside Development Foundation, Inc. (LCDFI)
*LBP Resources and Development Corporation (LBRDC)
*[[Overseas Filipino Bank]] (OFB)
*UCPB Savings Bank (UCPB-SB){{efn|formerly PostBank}}
==== Non-banking institutions ====
*[[Credit Information Corporation]] (CIC)
*DBP Leasing Corporation (DBP-LC)
*LBP Insurance Brokerage, Inc. (LIBI)
*LBP Leasing and Finance Corporation (LLFC)
*[[National Development Company]] (NDC)
*National Home Mortgage Finance Corporation (NHMFC)
*Philippine Crop Insurance Corporation (PCIC)
*[[Philippine Deposit Insurance Corporation]] (PDIC)
*Small Business Corporation (SBCorp)
*Social Housing Finance Corporation (SHFC)
*[[Philippine Guarantee Corporation]] (PHILGUARANTEE)
*UCPB Leasing and Finance Corporation (ULFC)
==== Social security institutions ====
*Employees Compensation Commission (ECC)
*[[Government Service Insurance System]] (GSIS)
*[[Pag-IBIG Fund|Home Development Mutual Fund]] (Pag-IBIG Fund)
*[[Philippine Health Insurance Corporation]] (PhilHealth)
*[[Social Security System (Philippines)|Social Security System]] (SSS)
*Veterans Federation of the Philippines (VFP)
=== Trade, area development, and tourism sector ===
==== Trade ====
*Center for International Trade Expositions and Missions (CITEM)
*Duty Free Philippines Corporation (DFPC)
*Philippine International Trading Corporation (PITC)
*Philippine Pharma Procurement, Inc. (PPPI)
*[[National Food Authority (Philippines)|National Food Authority]] (NFA)
*Planters Products, Inc. (PPI)
*Planters Foundation, Inc. (PFI)
==== Area development ====
*[[Bases Conversion and Development Authority]] (BCDA)
*[[Clark Freeport and Special Economic Zone|Clark Development Corporation]] (CDC)
*[[John Hay Air Station|John Hay Management Corporation]] (JHMC)
*[[Laguna Lake Development Authority]] (LLDA)
*[[National Housing Authority (Philippines)|National Housing Authority]] (NHA)
*[[Palacio del Gobernador|Palacio del Gobernador Condominium Corporation]] (PDGCC)
*Philippine Reclamation Authority (PRA)
*[[Poro Point|Poro Point Management Corporation]] (PPMC)
*Quezon City Development Authority (QCDA)
*Southern Philippines Development Authority (SPDA)
*[[Tourism Infrastructure and Enterprise Zone Authority]] (TIEZA)
==== Tourism ====
*Corregidor Foundation, Inc. (CFI)
*Marawi Resort Hotel, Inc. (MRHI)
*Philippine Retirement Authority (PRA)
*Tourism Promotions Board (TPB)
=== Educational and cultural sector ===
==== Educational ====
*[[Boy Scouts of the Philippines]] (BSP)
*[[Girl Scouts of the Philippines]] (GSP)
*Philippine Tax Academy (PTA)
==== Cultural ====
*[[Cultural Center of the Philippines]] (CCP)
*[[Nayong Pilipino Foundation]] (NPF)
=== Gaming sector ===
*[[Philippine Amusement and Gaming Corporation]] (PAGCOR)
*[[Philippine Charity Sweepstakes Office]] (PCSO)
=== Energy and materials sector ===
==== Energy ====
*[[National Electrification Administration]] (NEA)
*[[National Power Corporation]] (NPC)
*[[National Transmission Corporation]] (TRANSCO)
*[[Philippine National Oil Company]] (PNOC)
*Power Sector Assets and Liabilities Management Corporation (PSALM)
*PNOC Exploration Corporation (PNOC-EC)
*PNOC Renewables Corporation (PNOC-RC)
*Philippine Electricity Market Corporation (PEMC)
==== Materials ====
*Batong Buhay Gold Mines, Inc. (BBGMI)
*Bukidnon Forest, Inc. (BFI)
*Natural Resources Development Corporation (NRDC)
*Philippine Mining Development Corporation (PMDC){{efn|formerly NRMDC}}
=== Agriculture, fisheries, and food sector ===
==== Agriculture and fisheries ====
*National Dairy Authority (NDA)
*National Tobacco Administration (NTA)
*[[Philippine Coconut Authority]] (PCA)
*Philippine Fisheries Development Authority (PFDA)
*[[Sugar Regulatory Administration]] (SRA)
==== Food ====
*Cagayan de Oro Oil Company, Inc. (CAGOIL)
*[[Food Terminal Inc.]] (FTI){{efn|name=PMO|under the Privatization and Management Office of the [[Department of Finance (Philippines)|Department of Finance]]}}
*Granexport Manufacturing Corporation (Granex)
*Iligan Coconut Industries, Inc. (ILICOCO)
*Legaspi Oil Company, Inc. (LEGOIL)
*National Sugar Development Company (NASUDECO){{efn|name=PMO}}
*San Pablo Manufacturing Corporation (SPMC)
*Southern Luzon Coconut Oil Mill, Inc. (SOLCOM)
=== Utilities and communications sector ===
==== Utilities ====
*[[Port of Cebu|Cebu Port Authority]] (CPA)
*[[Civil Aviation Authority of the Philippines]] (CAAP)
*[[Clark International Airport|Clark International Airport Corporation]] (CIAC)
*[[Francisco Bangoy International Airport|Davao International Airport Authority]] (DIAA)
*[[Light Rail Transit Authority]] (LRTA)
*[[Water supply and sanitation in the Philippines#Local Water Utilities Administration (LWUA)|Local Water Utilities Administration]] (LWUA)
*[[Mactan–Cebu International Airport|Mactan–Cebu International Airport Authority]] (MCIAA)
*[[Manila International Airport Authority]] (MIAA)
*[[Metropolitan Waterworks and Sewerage System]] – Corporate Office (MWSS-CO)
*Metropolitan Waterworks and Sewerage System – Regulatory Office (MWSS-RO)
*[[National Irrigation Administration]] (NIA)
*PEA Tollway Corporation (PEA-TC)
*[[Philippine Aerospace Development Corporation]] (PADC)
*[[Philippine National Construction Corporation]] (PNCC){{efn|name=PMO}}
*[[Philippine National Railways]] (PNR)
*[[Philippine Ports Authority]] (PPA)
==== Communications ====
*APO Production Unit, Inc. (APO-PUI)
*[[People's Television Network]], Inc. (PTNI)
*[[Philippine Postal Corporation]] (PHLPost)
=== Healthcare services sector ===
*La Union Medical Center (LUMC)
=== Realty and/or holding companies ===
*Anglo Ventures Corporation
*AP Holdings, Inc.
*ARC Investors, Inc.
*ASC Investors, Inc.
*Batangas Land Company, Inc. (BLCI)
*Fernandez Holdings, Inc.
*First Meridian Development, Inc.
*G. Y. Real Estate, Inc. (GYREI)
*Kamayan Realty Corporation (KRC)
*Pinagkaisa Realty Corporation (PiRC)
*Randy Allied Ventures, Inc.
*Rock Steel Resources, Inc.
*Roxas Shares, Inc.
*San Miguel Officers Corp. Inc.
*Soriano Shares, Inc.
*Te Deum Resources, Inc.
*Toda Holdings, Inc.
*Valhalla Properties, Inc.
=== GOCCs supervised by the Presidential Commission on Good Government ===
{{see also|Presidential Commission on Good Government}}
*[[Banahaw Broadcasting Corporation]] (BBC)
*Bataan Shipyard and Engineering Company (BASECO)
*Chemfields, Inc. (CI)
*Independent Realty Corporation (IRC)
*Mid-Pasig Land Development Corporation (MLDC)
*Performance Investment Corporation (PIC)
*Piedras Petroleum Company, Inc. (PIEDRAS)
*UCPB–CIIF Finance and Development Corporation (COCOFINANCE)
*UCPB–CIIF Foundation, Inc.
*United Coconut Chemicals, Inc. (COCOCHEM)
*United Coconut Planters Bank General Insurance, Inc. (COCOGEN)
*United Coconut Planters Life Assurance Corporation (COCOLIFE)
=== Under privatization ===
*GSIS Family Bank (GSIS-FB)
*[[Intercontinental Broadcasting Corporation]] (IBC)
*Monterrosa Development Corporation (MDC)
=== Non-operational, inactive, or deactivated ===
*Anchor Estate, Inc. (AEI)
*Aviation Services and Training Institute (ASTI)
*BCDA Management and Holdings, Inc. (BMHI)
*Calauag Quezon Province Integrated Coconut Processing Plant, Inc. (CQPICPPI)
*Clark Polytechnic Development Foundation (CPDF)
*DBP Management Corporation (DBPMC)
*First Centennial Clark Corporation (FCCC)
*GSIS Mutual Fund, Inc. (GSIS-MFI)
*GSIS Properties, Inc. (GSIS-PI)
*Integrated Feed Mills Manufacturing Corporation (IFMC)
*Inter-Island Gas Service, Inc. (IIGSI)
*LBP Financial Services SpA  (Rome, Italy) (LBP-FSS)
*LBP Remittance Company  (USA) (LBP-RC)
*LBP Singapore Representative Office (LBP-SRO)
*LBP Taiwan Representative Office (LBP-TRO)
*LWUA Consult, Inc. (LWUA-CI)
*Manila Gas Corporation (MGC)
*Masaganang Sakahan, Inc. (MSI)
*Meat Packing Corporation of the Philippines (MPCP)
*Metro Transit Organization, Inc. (MTOI)
*NDC–Philippine Infrastructure Corporation (NPIC)
*North Davao Mining Corporation (NDMC)
*North Luzon Railways Corporation (NORTHRAIL)
*Paskuhan Development, Inc. (PDI)
*Phil. Centennial Expo '98 Corp. (EXPO FILIPINO)
*Philpost Leasing and Financing Corporation (PLFC)
=== Under abolishment ===
*AFP Retirement and Separation Benefits System (AFP-RSBS)
*Alabang–Sto. Tomas Development, Inc. (ASDI)
*CDCP Farms Corporation (CDCP-FC)
*Disc Contractors, Builders and General Services, Inc. (DISC)
*First Cavite Industrial Estate, Inc. (FCIEI)
*HGC Subic Corporation (HGC-SC)
*Human Settlements Development Corporation (HSDC)
*National Agri-Business Corporation (NABCOR)
*NIA Consult, Inc. (NIACI)
*Northern Foods Corporation (NFC){{efn|name=PMO}}
*[[Panay Railways|Panay Railways, Inc.]] (PRI){{efn|name=PMO}}
*[[Partido Development Administration]] (PDA)
*Philippine Agricultural Development and Commercial Corporation (PADCC)
*[[Philippine Forest Corporation]] (PFC)
*Philippine Fruits and Vegetables Industries, Inc. (PFVII)
*Philippine Sugar Corporation (PHILSUCOR){{efn|name=PMO}}
*Philippine Veterans Assistance Commission (PVAC)
*Philippine Veterans Investment Development Corporation (PHIVIDEC)
*PNOC Alternative Fuel Corp. (PNOC-AFC)
*PNOC Development and Management Corporation (PNOC-DMC)
*PNOC Shipping and Transport Corporation (PNOC-STC)
*Quedan and Rural Credit Guarantee Corporation (QUEDANCOR)
*San Carlos Fruits Corporation (SCFC)
*Technology Resources Center (TRC)
*Tierra Factors Corporation (TFC)
*Traffic Control Products Corporation (TCPC)
*Zamboanga National Agricultural College – Rubber Estate Corp. (ZREC)
=== Dissolved or abolished ===
*Bataan Technology Park, Inc. (BTPI)
*Cottage Industry Technology Center (CITC)
*National Livelihood Development Corp. (NLDC){{efn|merger between Livelihood Corporation (LIVECOR) and National Livelihood Support (NLSF)}}
*People's Credit and Finance Corporation (PCFC)
=== Privatized ===
*[[Metro Manila Transit Corporation]] (MMTC)
*Southern Utility Management and Services, Inc. (SUMSI)
=== Merged GOCCs ===
*Home Guaranty Corporation (HGC){{efn|merged with PhilExim to form PHILGUARANTEE}}
*[[United Coconut Planters Bank]] (UCPB){{efn|turned over from the [[Presidential Commission on Good Government]] (PCGG) to the [[Governance Commission for GOCCs]] (GCG)<ref>{{Cite press release |title=UCPB's Official Statement on the Turnover of UCPB to GCG |date=March 22, 2016 |publisher=[[United Coconut Planters Bank]] |url=https://www.ucpb.com/advisories/gcgofficialstatement/ |last1=Kilayko |first1=Jeronimo U. |access-date=January 26, 2023}}</ref>}}
=== GOCCs disposed by the Privatization and Management Office ===
*Menzi Development Corporation (MDC)
=== GOCCs excluded from the coverage of Republic Act No. 10149 ===
*[[Bangko Sentral ng Pilipinas]] (BSP)
*Central Bank – Board of Liquidators (CB-COL)
*Development Academy of the Philippines (DAP)
*[[Philippine International Convention Center]] (PICC)
*PHIVIDEC Panay Agro-Industrial Corp. (PPAlC)
==== Research institutions ====
*[[Lung Center of the Philippines]] (LCP)
*[[National Kidney and Transplant Institute]] (NKTI)
*Philippine Center for Economic Development (PCED)
*[[Philippine Children's Medical Center]] (PCMC)
*[[Philippine Heart Center]] (PHC)
*[[Philippine Institute for Development Studies]] (PIDS)
*Philippine Institute of Traditional and Alternative Health Care (PITAHC)
*[[Philippine Rice Research Institute]] (PRRI)
==== Economic zone authorities ====
*[[Aurora Pacific Economic Zone and Freeport|Aurora Pacific Economic Zone and Freeport Authority]] (APECO)
*[[Authority of the Freeport Area of Bataan]] (AFAB)
*[[Cagayan Special Economic Zone|Cagayan Economic Zone Authority]] (CEZA)
*Freeport Services Corporation (FSC)
*Northeastern Luzon Pacific Coastal Services, Inc. (NLPCS)
*[[Philippine Economic Zone Authority]] (PEZA)
*Phividec Industrial Authority (PIA)
*[[Subic Bay Metropolitan Authority]] (SBMA)
*[[Zamboanga City Special Economic Zone|Zamboanga City Special Economic Zone Authority]] (ZCSEZA)
==== Created by a Supreme Court decision ====
*[[Radio Philippines Network]] (RPN)
==== ''Sui generis'' ====
*Millennium Challenge Account Philippines (MCAP)
== See also ==
{{portal|Philippines|Companies}}
* [[List of government-owned companies]]
== Notes ==
{{notelist}}
== References ==
{{reflist}}
== External links ==
* [https://gcg.gov.ph/ Official website of the Governance Commission of GOCCs]
* [https://web.archive.org/web/20111126210736/http://www.gov.ph/directory/government-owned-andor-controlled-corporations/ List of GOCCs] from the Official Gazette of the Philippines
* [http://www.dbm.gov.ph/wp-content/uploads/DBM%20Publications/Directory2014/GOCC.pdf List of GOCCs] from the [[Department of Budget and Management]]
* [https://web.archive.org/web/20130528070451/http://dost.gov.ph/index.php?option=com_weblinks&view=category&id=114%3A-government-owned-and-controlled-corporations-&Itemid=80 Directory of 67 GOCCs' websites] from the [[Department of Science and Technology (Philippines)|Department of Science and Technology]]
{{State-owned enterprises by country|Asia}}
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