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Alphaland owner Ongpin: Boy Scouts to benefit from land deal
By ANDREO CALONZO, GMA News
(Updated 12:55 p.m.) The owner of Alphaland Corp. on Wednesday belied former Makati Vice Mayor Ernesto Mercado’s claim that the Boy Scouts of the Philippines got shortchanged in the land deal it entered into with his property development firm.
At the continuation of the Senate blue ribbon subcommittee hearing on accusations against Vice President Jejomar Binay, Alphaland owner and former trade minister Roberto Ongpin also said the land deal with the BSP was “aboveboard.”
Moreover, he said the joint development venture will “make significant financial returns” for the BSP.
“We take strong exception in the statement that the Boy Scout got a raw deal with this project,” Ongpin said.
Also, he said that after Alphaland acquired 40 percent of the property from Sime Darby, it entered into a joint venture agreement with BSP – its co-owner with shares of 60 percent – to develop the property into a residential and commercial facility.
"The total construction costs would be funded and provided by Alphaland, and not one centavo will come from the Boy Scout," he added.
"There is nothing irregular or underhand in the Alphaland Boy Scout deal," he said adding, "Boy Scouts had no risk... we funded everything."
Earlier during the hearing, Mercado claimed the BSP got shortchanged in the deal with Alphaland. He said the BSP should have received more from the deal, since the value of the property in question already increased after having been reclassified.
On the other hand, Ongpin said Alphaland had already charged Mercado with libel for his “meaningless” and “false” accusations.
"It is for this reason the Alpha land filed P100-M damage suit against Mr. Mercado. We will pursue this case," he said.
Late last month, Mercado accused Binay of getting P200 million in kickbacks from the deal between BSP and Alphaland.
According to Mercado, based on the contract between BSP and Alphaland, the BSP was supposed to receive P600 million for the Alphaland's development of a one-hectare property donated by BF Goodrich Philippines (now Sime Darby) to BSP in 1976.
Mercado said that up to now, the BSP has yet to receive its share from the joint property development venture, while Binay, allegedly, has already received P200 million from the deal.
Mercado also claimed that Binay, longtime BSP president, used the supposed kickbacks to fund his vice-presidential bid in 2010.
Binay’s camp has already denied Mercado’s allegations.
The BSP also earlier denied entering into an anomalous contract with Alphaland for the development of a one-hectare property in Makati City.
Alphaland Corp. president Mario Oreta also earlier belied Mercado’s accusations, saying that it was the ex-Makati vice mayor who asked for kickbacks. The property developer has also lodged a P100-million damage suit against Mercado. — with a report from Amanda Fernandez/LBG, GMA News
At the continuation of the Senate blue ribbon subcommittee hearing on accusations against Vice President Jejomar Binay, Alphaland owner and former trade minister Roberto Ongpin also said the land deal with the BSP was “aboveboard.”
Moreover, he said the joint development venture will “make significant financial returns” for the BSP.
“We take strong exception in the statement that the Boy Scout got a raw deal with this project,” Ongpin said.
Also, he said that after Alphaland acquired 40 percent of the property from Sime Darby, it entered into a joint venture agreement with BSP – its co-owner with shares of 60 percent – to develop the property into a residential and commercial facility.
"The total construction costs would be funded and provided by Alphaland, and not one centavo will come from the Boy Scout," he added.
"There is nothing irregular or underhand in the Alphaland Boy Scout deal," he said adding, "Boy Scouts had no risk... we funded everything."
Earlier during the hearing, Mercado claimed the BSP got shortchanged in the deal with Alphaland. He said the BSP should have received more from the deal, since the value of the property in question already increased after having been reclassified.
On the other hand, Ongpin said Alphaland had already charged Mercado with libel for his “meaningless” and “false” accusations.
"It is for this reason the Alpha land filed P100-M damage suit against Mr. Mercado. We will pursue this case," he said.
Late last month, Mercado accused Binay of getting P200 million in kickbacks from the deal between BSP and Alphaland.
According to Mercado, based on the contract between BSP and Alphaland, the BSP was supposed to receive P600 million for the Alphaland's development of a one-hectare property donated by BF Goodrich Philippines (now Sime Darby) to BSP in 1976.
Mercado said that up to now, the BSP has yet to receive its share from the joint property development venture, while Binay, allegedly, has already received P200 million from the deal.
Mercado also claimed that Binay, longtime BSP president, used the supposed kickbacks to fund his vice-presidential bid in 2010.
Binay’s camp has already denied Mercado’s allegations.
The BSP also earlier denied entering into an anomalous contract with Alphaland for the development of a one-hectare property in Makati City.
Alphaland Corp. president Mario Oreta also earlier belied Mercado’s accusations, saying that it was the ex-Makati vice mayor who asked for kickbacks. The property developer has also lodged a P100-million damage suit against Mercado. — with a report from Amanda Fernandez/LBG, GMA News
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