Businessman Tiu says he's no Binay dummy as alleged in Senate hearing

Antonio Tiu, Greenergy Holdings Inc. CEO, is reeling from what he calls “baseless accusations” made by a former Makati City politician during a Senate hearing on Wednesday. 

 

“This is baseless accusations and is unfair to a legitimate businessman like us,” Tiu told GMA News Online in a text message. 

 

Tiu’s name was dragged into an investigation over Vice President Jejomar Binay’s alleged ill gotten wealth, as former Binay ally and Makati Vice Mayor Ernesto Mercado revealed that a sprawling 350-hectare estate in Rosario, Batangas – said to be owned by Greenergy – is actually Binay's property. 

 

Mercado presented before the Senate blue ribbon subcommittee pictures and an aerial survey of the 350-hectare property, which he estimated to be worth P1.2 billion.

 

The property has a mansion with British palace garden, a mansion with resort pool, 40-car garage and staff house, an imported orchid farm, an air-conditioned piggery, a fighting cock farm, and a man-made lagoon.

 

Mercado claimed the properties were all developed by Hilmarc’s Construction Corporation, the general contractor of the alleged overpriced Makati City Hall Building II that is at the center of the Senate probe.

 

Tiu, however, said the land actually is an agri-tourism hub owned by his company. 

 

“If it is Sunchamp, then it belongs to Greenergy,” Tiu added, referring to the land in question. 

 

Tiu also owns Sunchamp Real Estate Development Corp. In a 2013 disclosure to the Philippine Stock Exchange, Greenergy said it executed a subscription agreement for 20 percent of outstanding capital stock of Sunchamp for P55 million.

 

Alleged ties

 

During the same subcommittee hearing, Senator Antonio Trillanes presented a list of facts that allegedly ties the Rosario farm to the Binays, starting with the connection of their lawyer, Martin Subido, to Greenergy.

 

Subido, Greenergy Holdings Inc. corporate secretary, is also the legal counsel of the Binay family. In a profile released by Bloomberg, Subido is also revealed to have been a former managing partner of the Law Firm of Subido, Pagente, Certeza, Mendoza and Binay, a law firm which lists Rep. Abi Binay, the Vice President’s daughter, as a name partner. 

 

Subido is also a director of Earthright Holdings Inc., the largest shareholder of Greenergy.

 

Trillanes noted how Subido’s former law office lists the same address as that of Earthright.

 

“Ito na ngayon ang links," Trillanes claimed. "Nang tinignan natin ang Greenergy website ang corporate secretary ay si Martin Subido, law partner ni Congresswoman Binay. Pag nakita ninyo ay partner din niya si Mr. Claro Certeza, siya din ang naging lawyer ni Mayor Junjun Binay.” 

 

In a separate text message, Tiu admitted knowing the Binay family professionally. “I know the Binay family since their law firm is my legal counsel since I started doing business,” he said. 

 

Meanwhile, in an interview with reporters following the hearing, Subido denied he and the company are being used by Binay as dummies.

 

“That cannot be because these companies are publicly-listed companies and all disclosures are made. The company is audited by one of the top four auditors of the country. 

 

"We have foreign investors coming in into the company or are part of the company. So, definitely this is not a dummy corporation or a fly-by-night corporation, because Greenergy Holdings, AgriNurture Inc. are both listed companies and they follow the strictest corporate governance standards being listed companies,” Subido added. – VS, GMA News