SAN MIGUEL CORPORATION, AKING KAMAG-ANAK

Govt to guarantee MRT 7 rail

By Alena Mae S. Flores | Aug. 25, 2014 at 12:01am

The government has agreed to provide a financial guarantee to Metro Rail Transit Line 7, allowing proponent San Miguel Corp. to start the construction of the P62.7-billion rail project within the year, Transportation Secretary Joseph Emilio Abaya said over the weekend.

Abaya said the Finance Department issued the performance undertaking for the 22.8-kilometer rail project. 

A performance undertaking, or a financial guarantee given by the government to the contractor, is a requirement for the financial closure of a project that would be partially funded by official development assistance from multilateral banks or foreign lenders.

“The performance undertaking has been signed by [Finance] Secretary [Cesar] Purisima. We have signed our implementing guidelines, so it is a matter of calling them [proponent] and giving it to them, so that’s already a go,” Abaya told reporters.

“The next step, once the performance undertaking is given to them, they should commence financial close. What I’m requesting them to do is to do it sooner than 18 months, but they’re saying they could do advanced works once they get the green light. I hope they can do it before next year,” Abaya said.

The National Economic and Development Authority board, chaired by President Benigno Aquino III, approved the MRT 7 project, an unsolicited offer from conglomerate San Miguel Corp. in November 2013.

MRT 7 involves the construction of a 22.8-kilometer rail system from North Avenue station in Quezon City, passing through Commonwealth Avenue, Regalado Avenue and Quirino Highway, to the proposed intermodal transportation terminal in San Jose del Monte City, Bulacan.

The project, first proposed by Universal LRT Corp. Ltd. nearly a decade ago, was delayed because of the company’s failure to secure a performance undertaking from the Finance Department.

San Miguel, through unit San Miguel Holdings Corp., acquired a 51-percent interest in Universal LRT in 2010.

San Miguel awarded the engineering, procurement, construction contract to the Marubeni-DMCI consortium.

San Miguel earlier said once the performance undertaking was given by the Finance Department, the processing for the financial closure could be received within the year.

The company said construction of the project was estimated to take 42 months.  Once completed, MRT 7 is expected to serve 850,000 passengers daily.

"THEY WANT TO OPERATE THE MOTHBALLED BATAAN NUCLEAR POWER PLANT"

Mark Cojuangco and Kimi Cojuangco are both  financial "stakeholders" sa magiging operation ng BATAAN NUCLEAR POWER PLANT (BNPP). 

                 Ang tatakaw talaga nila anu??!!

                    Eto si Kimi Cojuangco

                   Eto si Mark Cojuangco

                       Hot na hot sila dito!

                  
                  NEED WE SAY MORE???

MGA KAWATAN SA MALACANANG! - WE KNOW BECAUSE YOUR PEOPLE TELL

MUKHANG NAHULI NILA TAYO PARE. . . .

 

EH IKAW LANG NAMAN ANG NAG-UUTOS SA AKIN MAGNAKAW AH . . . ?

BILI NG ICE CREAM

"Uncle Noynoy, gusto ko po sanang bumili ng ice cream. Pwede ko po bang kunin na lang sa DAP?"

ANG BINUBUSOG NI PNOY AY YUNG MGA NASA ITAAS LAMANG

Workers protest MWSS board's 'excessive' allowances

By Alvin Elchico, ABS-CBN News

Posted at 08/13/2012 5:41 PM | Updated as of 08/14/2012 8:24 AM

MWSS chairman denies allegations

MANILA, Philippines - Employees of the Metropolitan Waterworks and Sewerage System (MWSS) on Monday held a protest rally to denounce what they call are "excessive" benefits given to members of its board.
Holding placards and streamers, around 30 MWSS employees protested during their lunch break. They claimed that each board member is paid P9,000 per regular committee meeting and P 15,000 for board meeting.
Nap Quiñones, MWSS Labor Association president, claimed MWSS officials and consultants are violating the new government-owned and controlled corporation (GOCC) law.
The group said MWSS trustees would schedule 4 committee meetings in a day, which would total earnings of P36,000 a day.
The group also accused the new MWSS management of hiring 36 consultants at P30,000 each.
They noted while the board members slashed their meal allowance of P150 a day to P3 a day, they feasted on excessive allowances.
The protesters were joined outside the MWSS by consumer group Water for All Refund Movement (WARM) who also denounced the hefty allowances and demanded the ouster of MWSS officials.
WARM also insisted on the refund of around P2 billion in collections to fund the cancelled Laiban dam and Bulacan irrigation projects initiated by the MWSS during the previous administration.
'Baseless accusations'
MWSS chairman Ramon Alikpala said all the accusations of the group were not true and have no basis. While Alikpala did not dispute the P9,000 per diem for each committee meeting, he insisted that the board members do not receive compensation or salary package.
He said this amount is within bounds of the law. Alikpala said it is not true that members of the board had meetings held 4 times a day.
There was an instance in April that several committee meetings were held but Alikpala said these were attended by different members of the board.
Compared to the previous chairman of the board who received P5 million a year, Alikpala said he only gets an income of P500,000, just a fraction of what his predecessor got.
Alikpala admitted the reduction of the meal allowance but stressed the additional compensation has no basis in law. He also defended the hiring of consultants which he claimed are needed in specialized area concerns of the MWSS but the number did not reach 36 at all.
When asked if he will resign, Alikpala said "if I do leave MWSS, it won't be because of this."
Meanwhile, Alikpala said the collected amount for the shelved Laiban and Bulacan irrigation project will not be refunded since the government will push through with these projects anyway. Any over- or undercollection can be remedied in the current rate rebasing done by the MWSS regulatory office for both Maynilad and Manila Water, he added.

BULOK NA STYLE SA PAGNANAKAW!

It was not so long ago that Mar Roxas aka Titi Montenegro and PNOY GAGO were accusing many government employees and government agencies such as the PAGASA, NIA, Customs, Immigration, BIR and DPWH of corruption and with the same offices, a haven of "KOTONG" activities.

While we do not deny that many of these government offices do have corrupt employees in their stead, we also point out that Mar and PNOY are guilty of being more corrupt than these supposedly employees because of these 2 present circumstances;

1.  PNOY had bribed the senators during the "Corona impeachment trial" by illegally disbursing government savings, converting them into"DAP" and releasing them as pork barrel for the Senators who voted for the impeachment of Ex-Chief Justice Corona and;

2. Mar Roxas has a "very BIG BUDGET" alloted for him at the DILG, for the "HOUSING PROGRAM of the Government", which is by law, falls under the province of the National Housing Authority. And to think that the COA has not yet given a full report on its audit. Mar Roxas has furthermore usurped the power of the NHA, which is an agency of the government of which by the way has its own charter, and worse, budget was given to him to spend for "housing programs", as part of his duties as DILF Chief. Hindi lang ito ignorance of the law and the Constitution, this is also a duplicity of function, usurpation and abuse of authority, grave abuse of discretion in excess of jurisdiction, circumvention of the law, betrayal of public trust and incompetence as DILG Chief!

As taxpayers, we would ask ourselves. "what are these two fuckers doing with our money?"

 

Why is GAGONG BUTCH ABAD silent about this?

Is Mar Roxas aka Titi Montenegro already campaigning for the 2016 Presidency, using taxpayers money???

PUTANG-INA KAYO!!! 

PUTANG-INA KAYO!!! 

YOU HAD BEEN USING "US" AS SCAPEGOATS PARA MAGNAKAW PA KAYO NG MAS MARAMI SA KABAN NG BAYAN!!!

YOU POINT THE FINGER AT US, THE FILIPINO PEOPLE AND YET. . .KAYO PALA ANG MGA MAGNANAKAW!

Let us all Rally to Impeach the President!

KASUHAN NG PLUNDER SI PNOY, MAR ROXAS, ABAD, PURISIMA AT SI ALCALA!!!

TAXPAYERS: Our money, our dues, our taxes, our rules!