This developed after talks started circulating that its holding company, Filinvest Development Corp. (FDC), will reportedly acquire the Mimosa Leisure Estate (MLE) by installments.
PGKM chairman Ruperto Cruz said the Bases Conversion and Development Authority and its subsidiary, the Clark Development Corp. (CDC), should make public the lease agreement contracts it signed with the Gotianum- owned corporations to erase rumors and speculations.
Cruz said the PGKM is doubtful of the capacity of Filinvest after hearing talks from reliable sources that the property development corporation would be paying in installments for the sprawling 200-hectare MLE.
Cruz recalled that former Tourism Secretary Jose Antonio Gonzales fi rst got investors and loaned money from the banks to put up and develop Mimosa in 1992 while noting that Filinvest has not invested in any development at all “as MLE is already earning money since it is operating normally and functioning as a business entity.”
“Why should they be allowed to pay in installments?” asked Cruz.
He said the much ballyhooed Clark Green City is raw land and its development could run into billions of pesos while Mimosa is already earning money.
“Pota naman lulutu de ing Mimosa keng sarili nang taba (They might be cooking Mimosa in its own fat),” he said.
“The contracts might be disadvantageous to the government,” Cruz said. “Could this mean that Filinvest is just another speculator?”
Cruz said the BCDA and CDC’s lack of transparency is complicating things. “They have no transparency at all, which makes a blatant lie of the government’s daang matuwid policy,” he lamented.
The CDC, under its current president-CEO Atty. Arthur P. Tugade, has been taken to task by the PGKM and other sectors, including the local media for its “failed promises” to make public lease agreements it signed with locators, notably Bureau of Customs Commissioner Bert Lina, former Philippine Amusement and Gaming Corp. chairman Efraim Genuino, Honda Cars Philippines and Capilion Corp. Pte Ltd.
