MANILA, Philippines – A Japanese investor chided a court order, directing the stoppage of the construction of a manufacturing plant in a property under the claim of former Zambales governor Vicente Magsaysay, a report said today (Nov. 17).
This after Judge Richard Paradeza of the Olongapo City Regional Trial Court issued a temporary restraining order (TRO) on the construction of an ink manufacturing plant on a one-hectare property under the claim of Magsaysay.
In his column published in Philippine Daily Inquirer, Neal Cruz said Japanese firm Cresc Inc. leased the property from Subic Coastal Development Corp. (SCDC) in 2013 with the approval of the Subic Bay Metropolitan Authority (SBMA).
While Magsaysay claimed rights over the property since 2008, Cruz said the SCDC has turned over the one-hectare land to SBMA for disposition after the former governor failed to secure an approval of land usage.
Cruz also questioned on the issuance of the TRO in favor of Magsaysay as the governor has shown nothing to prove his claim except his own “self serving testimony”.
Magsaysay accordingly exerted his rights over the property after he helped the SCDC cleared the one-hectare property.
“Reportedly, he (Magsaysay) had pestered SCDC no end to give control of the property to him although the claimed help he extended to SCDC was only token,” Cruz pointed out.
“Thus, it is puzzling to the business community in Subic why Magsaysay is now, six years later, claiming the right to that piece of land,” he added.
The move of the court, in issuing TRO in favor of Magsaysay, has also disappointed Subic locators as it delayed Cresc’s expansion on its manufacturing plant, and will ultimately affect the interest of future prospect investors.