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MANILA, Philippines – Senator Risa Hontiveros has flagged a possible “remarkable degree of collusion” in the construction of P9.5 billion of the 2019 Southeast Asia Games (SEA) facilities in Tarlac.
In a privileged speech during Tuesday’s plenary session, Hontiveros called for a “large-scale” investigation into the joint venture agreement (JVA) concluded by the Base Development and Conversion Authority (BCDA) with Malaysian developer MTD Capital Berhad to building sports. facilities in New Clark City.
“Upon closer inspection, there may be a remarkable degree of collusion in the financing and construction of this project in New Clark City,” he said.
According to Hontiveros, there are “indications” that the JVA between BCDA and the Malaysian company is a “bogus joint venture”.
He noted that according to the JVA signed in February 2018, MTD had to “advance” the total cost of the project of P8.5 billion, while BCDA was to provide the land on which the facilities would be built.
But she said MTD “didn’t really make any progress.”
He said MTD financed the project through a P9.5 billion loan from the Development Bank of the Philippines (DBP), which he noted was approved in March 2018, a month after the JVA was signed in February.
Clark City’s new athletics stadium (Photo by Tristan Tamayo / INQUIRER.net)
Hontiveros pointed out that since the BCDA was obliged to repay MTD the capital that it allegedly “advanced”, the BCDA paid the full amount of the loan using an allocation of P9.544 million in the 2019 national budget.
“BCDA took the payment of Malaysian developers out of people’s pockets. According to the 2019 budget, DBM has given BCDA P9.54 billion to pay MTD Berhad’s debt, ”he said.
(The BCDA used public funds to pay the Malaysian developer. If we look at the 2019 budget, the DBM gave the BCDA P9.54 billion to pay off the MTD Berhad loan.)
“So what use is this alleged joint venture when BCDA paid the amount to MTD using public funds allocated in the 2019 national budget?” she added.
“It is full of the stigma of being a fake joint venture,” he further said.
(This is full of signs of a fake joint venture.)
BCDA Chairman and CEO Vince Dizon previously said the agency’s JVA with Malaysia’s signature is “legal, transparent and not disadvantageous to the government.”
‘Behest Loan’
Hontiveros also questioned the need for the government to participate in a joint venture.
“For umiwas a public tender in lutuin ang pagpopondo sa project?” he said, adding that the Senate should investigate whether the JVA was a “loan on demand” or a loan made to companies favored by high-ranking government officials.
“In February 2018, when the joint venture was signed and in March 2018, the private partner already had a loan of P9.5 billion. That seems too fast, ”Hontiveros said.
(It was in February 2018 that the joint venture was signed and the P9.5 billion loan from the private partner was approved in March 2018. That seems too fast.)
“And without the involvement of BCDA, would this loan have been made at record speed?” she added.
Hontiveros even noted that the JVA between BCDA and the Malaysian firm has been flagged by state auditors.
The Audit Commission (COA) previously said that BCDA gave private contractor MTD Capital Berhad an “undue advantage” in the contract for the construction of the sports facilities.
“During this privileged speech I have asked many questions, but it is the public that deserves the answers,” he added.
KGA
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