CLARK FREEPORT – Malaysian ambassador to the Philippines Dr. Ibrahim Saad openly endorsed here on Friday the bid of a Malaysian consortium to fund and build a new $150-million passenger terminal at the Diosdado Macapagal Inter-national Airport (DMIA) here, as project airport officials are poised to award to another firm chosen during the last days of the Arroyo government.
This, even as Bill Chee of the Malaysian consortium Bristeel Overseas Ventures, Inc. (Bristeel) told Punto Central Luzon his firm wants the government-owned Clark International Airport Corp. (CIAC) to “drop” its decision to hold “detailed negotiations” with the Korean-backed local consortium Philco Aero Inc. in the construction of the new passenger terminal known as Terminal 2.
“How can the Philippines attract foreign investors if it will continue to violate its own rules and regulations?” asked Chee, amid allegations that Philco Aero failed to comply with the guidelines issued by CIAC’s Joint Venture-Special Committee (JVSC) for companies interested in the terminal project.
The Malaysian ambassador, in his speech during Bristeel’s “presentation and manifestation” forum held here yesterday, echoed this sentiment by noting that Bristeel is determined to follow all laws and legal requirements in its plan to put huge investments in this freeport.
“I understand you have rules and regulations here and Bristeel is determined to follow them,” Saad said, adding that the new administration of Pres. Aquino has built up the confidence of foreign investors.
“This (Bristeel proposal) is an endorsement of Malaysian investors in the stability of the Philippines under Pres. Aquino,” he said.
Chee said Bristeel has made arrangements for meeting with presidential spokesperson Edwin Lacierda, Vice Pres. Jejomar Binay and Transportation and Communications Sec. Jose de Jesus so that they would cite the irregularities in the CIAC favoring Philco Aero.
Meawhile, Bristeel’s architect Ron Gaudiel said during the forum that the $150-million terminal project is only one of the investments planned by his company at Clark. He presented a master plan that included a “global city” that could cost as much as $`1.5 billion within the aviation complex here.
While Bristeel can still “challenge” Philco Aero’s standing under the guidelines of the CIAC’s JVSC, Chee said his firm wants Philco Aero “dropped” for its failure to comply with several requirements.
Chee said his firm is ready to finance the $150 million for the new terminal which he referred to as a mere extension of the present passenger terminal. The proposal is for a joint venture with Bristeel owning 70 percent of shares and CIAC having 30 percent.
In a document citing these violations, Bristeel noted that “when the CIAC board accepted Philco Aero’s proposal on May 17, 2010, there was no resolution from the JVSC that recommended such acceptance.”
Bristeel also noted that Philco Aero’s consortium “had ceased to exist at the time the CIAC board accepted the proposal” as indicated by a document signed by consortium members. They said that their consortium would dissolve should the terminal project not be awarded to it by March 31, 2010, unless the deadline was extended.
“Based on the report submitted by JVSC, Philco Aero did not submit such an extension as of May 17, 2010,” Bristeel said.
It noted that “this is in contrast with the memorandum of agreement dated March 25, 2010 submitted by Bristeel indicating the membership of their consortium as UM Construction SDN BHD, Temokin Holdings SDN BHD and Bristeel Development SDN BHD was valid for three months.”
Bristeel also noted that the “financial capability of Philco Aero to undertake the project and its track record and experience to undertake and operate the project were not established.
Chee noted that the CIAC’s decision to shelve Bristeel and opt for Philco Aero for “detailed negotiations’ was made when there was even no talk that San Miguel Corp. and Metro Pacific Investments Corp. were interested in the passenger terminal project.
A month ago, CIAC president and chief executive officer Victor Jose Luciano said Metro Pacific Investments Corp. has already linked up with San Miguel Corp. in a bid to construct a new modern Terminal 2 building at the DMIA.
Pampanga Vice Gov. Joseller Guiao reported to the Pampanga Chamber of Commerce and Industry (Pamcham) that he, other incoming provincial officials led by governor-elect Lilia Pineda and outgoing Pres. Arroyo met recently with Metro Pacific business magnate Manny Pangilinan who also bared to them plans to construct a new high-speed railway to connect DMIA and Metro Manila.
“The plan is to construct the new railways between the lanes of the North Luzon expressway to link Clark to Manila. The proposal to construct it parallel to the railway now being done by the North Luzon Railways Corp. was scrapped because the latter’s path is already too narrow to accommodate another track,” Guiao said.
Guiao said Pangilinan’s investment in the railways is expected to be forged through his Landco Pacific Corporation (Landco).
This, even as Bill Chee of the Malaysian consortium Bristeel Overseas Ventures, Inc. (Bristeel) told Punto Central Luzon his firm wants the government-owned Clark International Airport Corp. (CIAC) to “drop” its decision to hold “detailed negotiations” with the Korean-backed local consortium Philco Aero Inc. in the construction of the new passenger terminal known as Terminal 2.
“How can the Philippines attract foreign investors if it will continue to violate its own rules and regulations?” asked Chee, amid allegations that Philco Aero failed to comply with the guidelines issued by CIAC’s Joint Venture-Special Committee (JVSC) for companies interested in the terminal project.
The Malaysian ambassador, in his speech during Bristeel’s “presentation and manifestation” forum held here yesterday, echoed this sentiment by noting that Bristeel is determined to follow all laws and legal requirements in its plan to put huge investments in this freeport.
“I understand you have rules and regulations here and Bristeel is determined to follow them,” Saad said, adding that the new administration of Pres. Aquino has built up the confidence of foreign investors.
“This (Bristeel proposal) is an endorsement of Malaysian investors in the stability of the Philippines under Pres. Aquino,” he said.
Chee said Bristeel has made arrangements for meeting with presidential spokesperson Edwin Lacierda, Vice Pres. Jejomar Binay and Transportation and Communications Sec. Jose de Jesus so that they would cite the irregularities in the CIAC favoring Philco Aero.
Meawhile, Bristeel’s architect Ron Gaudiel said during the forum that the $150-million terminal project is only one of the investments planned by his company at Clark. He presented a master plan that included a “global city” that could cost as much as $`1.5 billion within the aviation complex here.
While Bristeel can still “challenge” Philco Aero’s standing under the guidelines of the CIAC’s JVSC, Chee said his firm wants Philco Aero “dropped” for its failure to comply with several requirements.
Chee said his firm is ready to finance the $150 million for the new terminal which he referred to as a mere extension of the present passenger terminal. The proposal is for a joint venture with Bristeel owning 70 percent of shares and CIAC having 30 percent.
In a document citing these violations, Bristeel noted that “when the CIAC board accepted Philco Aero’s proposal on May 17, 2010, there was no resolution from the JVSC that recommended such acceptance.”
Bristeel also noted that Philco Aero’s consortium “had ceased to exist at the time the CIAC board accepted the proposal” as indicated by a document signed by consortium members. They said that their consortium would dissolve should the terminal project not be awarded to it by March 31, 2010, unless the deadline was extended.
“Based on the report submitted by JVSC, Philco Aero did not submit such an extension as of May 17, 2010,” Bristeel said.
It noted that “this is in contrast with the memorandum of agreement dated March 25, 2010 submitted by Bristeel indicating the membership of their consortium as UM Construction SDN BHD, Temokin Holdings SDN BHD and Bristeel Development SDN BHD was valid for three months.”
Bristeel also noted that the “financial capability of Philco Aero to undertake the project and its track record and experience to undertake and operate the project were not established.
Chee noted that the CIAC’s decision to shelve Bristeel and opt for Philco Aero for “detailed negotiations’ was made when there was even no talk that San Miguel Corp. and Metro Pacific Investments Corp. were interested in the passenger terminal project.
A month ago, CIAC president and chief executive officer Victor Jose Luciano said Metro Pacific Investments Corp. has already linked up with San Miguel Corp. in a bid to construct a new modern Terminal 2 building at the DMIA.
Pampanga Vice Gov. Joseller Guiao reported to the Pampanga Chamber of Commerce and Industry (Pamcham) that he, other incoming provincial officials led by governor-elect Lilia Pineda and outgoing Pres. Arroyo met recently with Metro Pacific business magnate Manny Pangilinan who also bared to them plans to construct a new high-speed railway to connect DMIA and Metro Manila.
“The plan is to construct the new railways between the lanes of the North Luzon expressway to link Clark to Manila. The proposal to construct it parallel to the railway now being done by the North Luzon Railways Corp. was scrapped because the latter’s path is already too narrow to accommodate another track,” Guiao said.
Guiao said Pangilinan’s investment in the railways is expected to be forged through his Landco Pacific Corporation (Landco).
