The fiefdom of A

Why is Speaker Prospero Nograles defending the proposal to change the economic provisions of the 1987 Philippine Constitution? Why is he acting like its counsel, when, in the words of Bertie Lim of the Makati Business Club, we don't need foreigners owning lands. We need capital.

I propose one question to Mr. Nograles--do we have a study coming from a reputable institution that lifting these economic provisions, or what Alex Magno said, committing constitutional appendectomy, would really benefit everybody?

Who stands to benefit from a change in the economic provisions of the Constitution?

Sources within the palace told me that the real reason behind the lifting of these economic provisions is not to really grow the economy. No. In fact, if we think about it, the reverse would happen. If we allow foreign ownership of land and property in the Philippines, the profit that they will be getting from using these lands would definitely be taken outside the country anyway. The local economy would not benefit from it. It would just be like what Mike Defensor did when his Chinese-owned mining company bagged that multi-billion contract to mine a mountain full of gold in Zambales.

The real story is the purpose of the establishment of a Hongkong-based holding company. Allegedly, this holding company which is named after a reputable historical figure "Ashmore" is owned by the First Golfer and his associates. Ashmore is an off-shore investment firm which was built solely to be the conduit between foreign companies wanting to own lands in the Philippines and a real estate firm called "Alphaland", which, again, is owned by a hotelier associate of the First Golfer.

The insider said that what the First Golfer and his associates intend to do is, make profit selling Philippine property to these foreigners using Ashmore and that Alphaland will be the authorized seller of these properties. They intend to get billions out of this.

What the First Golfer and his associates intend to do is monopolize the selling of prime Philippine property (including agricultural lands) and make a quick buck from it. Bad? Not entirely except that this smucks of bad odor and immoral since most of those behind this scheme are living inside the palace.

And you know who is helping the First Golfer and his associates build a veritable fiefdom in the Philippines? Reportedly, that person is Roberto Ongpin. (Ongpin used to be an associate of the late Ferdinand Marcos. His brother, that Ongpin during Cory's term, reportedly committed suicide because he's ashamed of what his brother did).

By the way....

The First Golfer allegedly is not facing anti-money laundering cases in the US. Let me correct my earlier entry. He is though, facing multi-million dollar suits relating to tax disputes.

Likewise, the First Golfer did suffer a stomach ache while in the air. He was found slumped and gasping for air inside the toilet cubicle of that PAL plane. Why Tokyo? Well, it's a full 3 hour plane ride instead of the Marshall islands. Beside, even if some people say it was better for PAL to have landed in Hawaii instead, it would have been disaster for the First Gentleman if the pilot did that.

Other news...

You know what's the plan of San Miguel Corporation? After reportedly buying the owner of Liberty Telecommunications for a huge sum of 50 million pesos, Ramon Ang is reportedly eyeing Bayan Telecommunications.

Ang is said to be offering the Lopezes 200 million for Bayantel. And the Lopez seems to be biting it. Reportedly, the Lopezes has about 400 million dollars worth of bad loans. Ergo, they need the money...quick and badly.

Will we see the emergence of a super, mega telecommunications company in the Philippines? Yes, we will.

This telecommunications company will be the biggest competitor of Philippine Long Distance Telephone Company (PLDT) in the industry. Qatar Telecommunications reportedly is the main force behind this. The merger of Q Telecommunications and SMC is a done deal already. With the acquisition of Bayantel, this merger will become the biggest player in the telecommunications industry.

This is the reason why Mrs. Gloria Macapagal-Arroyo went to Qatar, to oversee this historic merger.

Question--what will happen to the Ayala controlled Globe Telecommunications? Surely, the Zobels and the Ayalas will be hard pressed neutralizing this big deal being cooked up by the San Miguel people. Reportedly, SMART and PLDT top honcho Manny Pangilinan is not worried at all. Why? He's cooking up his own and the New Philippine Revolution is privy about it.