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Bacolod City, Philippines Wednesday, September 11, 2013
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AyalaLand discloses
Capitol project at PSE


AyalaLand Inc., said in a disclosure before the Philippine Stock Exchange Monday, that it is in close coordination and discussion with the province of Negros Occidental on its Capitol property project.

Paul Cheah, AyalaLand alternate compliance officer, told the PSE they confirm receipt from the province of Negros Occidental of a recent resolution issued by the Commission of Audit, which they welcome.

The COA resolution affirms with finality its approval of the sale and lease by the Negros Occidental provincial government of its 7.7-hectare property beside the Capitol in Bacolod City to AyalaLand Inc., Cheah said.

The Aug. 14, 2013 resolution was in response to a motion for reconsideration filed by SM Prime Holdings Inc. to the Sept. 21, 2012 COA ruling in favor of AyalaLand.

The COA’s August 14 resolution dismissed the SMPHI’s motion for reconsideration for lack of merit.

SMPHI has a pending case before a Bacolod Regional Trial Court against Capitol officials, questioning its failure to win the award for the lease and purchase of the 7.7-hectare property.

The SMPHI case, which is expected to be resolved soon, has delayed ALI in starting the development of the 7.7-hectare property last year.

Meanwhile, Provincial Administrator Enrique Pinongan yesterday said the provincial government is readying the demolition of the buildings that used to house the Office of the Provincial Agriculturist and the Provincial Environment Management Office this month, to clear the area in front the North Capitol Road for the lease by AyalaLand.

The National Telecommunications Commission will have to demolish its building at the North Capitol Road as stated in its Memorandum of Agreement with the provincial government, he said.

Pinongan said the provincial government welcomes the city government’s removal of the vendors’ structures on both sides of the Capitol Lagoon Park in Bacolod City on Monday, which it had sought.

He said they had received numerous complaints from private citizens on the presence of the vendors, sometimes almost in the middle of the road, obstructing traffic.

On the request of vendors whose structures were demolished to sell their goods inside the Capitol Lagoon Park, Pinongan said they cannot be allowed because this is prohibited by an existing ordinance.*CPG

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