Zamcelco’s selling of 7.5 hectare property to liberate coop from debts PDF Print E-mail
Thursday, 29 October 2015 10:41

Sound Snipings

BY Jimmy Cabato

The Robinson’s group of companies has set its sight on purchasing the 7.5-hectare property of the Zamboanga City Electric Cooperative (Zamcelco) in Barangay Putik, this city.

This was bared by Board President Omar Sahi, saying he considers the matter to have been temporarily put on hold citing lack of additional details on the negotiations, including the possible adverse reaction from the citizenry

Sahi also confirmed that the issue was taken up in their most recent regular board meeting. He said, the conglomerate initially offered a P15,000 per square meter price for the whole 75,000 square meter property that houses ZAMCELCO’s offices and facilities, including the newly-acquired four generator sets from UK.

The board president revealed, in selling the property, they have to get the nod of two thirds of Zamcelco’s total membership, which is about 80,000 members, in either a general or special assembly.

Based, however on GM George Ledesma’s computation, if sold the amount generated will be P1.125 billion, which he decried is short still of P300 million of what the coop actually needs to pay off its debts, buy new and modern equipment like power transformers, and purchase another property where its head office and facilities can be relocated, Sahi said. Their total need is P1.4 billion.

If ever, Zamcelco plans its relocation to be Barangay Pasobolong, admitting that at present, the coop is constantly battling to pay its almost a billion pesos worth of debt to the National Electrification Administration (NEA) and Power Sector Assets and Liabilities Management (PSALM).

At the same time, Sahi expressed hope that the people, particularly its member-consumers, will keep an open mind on the issue and avoid casting suspicions and misconceptions on Zamcelco.

He advanced that to erase doubts and misconceptions of money-making in the possible sale of the property, they will adopt transparency on all transactions pertaining the matter, assuring, too, that once Zamcelco will be able to pay all its debts, the cooperative can then “dramatically upgrade our status to either category A or B, and our rates might even go down because we will no longer have to burden paying for the perennial systems loss.” (Philip Abuy, ZT)

Open as I keep my mind on all issues, based on the board head’s statements, I foresee the up-coming sale , soon as the stake is raised. After all, the prospect may indeed liberate Zamcelco of its long-standing debts, provided further, it could get its hands on a suitable and fit relocation area that would house Zamcelco’s buildings equipped with new and modern facilities as envisioned.

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The Sandiganbayan appears to be the hatchet man of President Noynoy Aquino, operating with impunity and intensity. So many personalities on the opposite side of the fence have been clamped down. And some more, next in line. TMT’s RigobertoTiglao writes, “If you were made aware of the excuses given by the Sandiganbayan’s First Division for its refusal to grant bail to former President Gloria Macapagal-Arroyo, you would be very, very angry. You’d wonder how such an utter distortion of the law could occur in this country that is supposedly under the rule of law.”

In legal circles there are widespread rumors, he said, that President Aquino is orchestrating all its moves. Accordingly, he or his representative has directly called several times Sandiganbayan members “to emphasize to them that at all costs, they should not and cannot grant bail to the 68-year old grandmother who has a life-threatening illness.”

Tiglao described international lawyer Amal Clooney as horror-stricken at the blatant disregard for the rule of law in Arroyo’s incarceration, elevating the matter to the United Nations Working Group on Arbitrary Detention.

And in just two months’ time, the Group issued its conclusion that “the former president is a victim of arbitrary detention, that she should be immediately released, and that she should even sue for damages.”

With GMA having gone to the Supreme Court, he said, it is now “a test whether this nation still has a court of last resort to check the distortions of the law the Aquino regime has managed to undertake just to keep his predecessor in jail for the past three years. Whether it is an act of vengeance over some slight in the past, or fear of her political clout, or a false trophy to brag about for his anti-corruption drive – we can only surmise.”

* * * *

The president just must have really felt the Marcos sting when Sen. Ferdinand “Bongbong” Jr. lashed out at the former’s regime during the program for his declaration of candidacy for vice president. He seems reeling from pain.

His recent potshots tell all as they appear to be a counter attack and showed indignation, belittling the Marcos family’s supposed ability to return to power. He also belied the resurgence of support for members of the former first family.

Running as an independent candidate for Vice President, Marcos is rumored to be the running mate of Sen. Miriam Defensor-Santiago. But while admitting that his camp had met with Santiago’s representatives over a possible team-up, he has yet to confirm their alliance.

Also seen aghast by the young Marcos’ condemnations of the Aquino administration on political vengeance, criminality, disorder and continued corruption in government; Aquino even demeaned the appearance of elder sister Imee on a cover of a magazine, alleging it does not demonstrate a resurgence of support to the Marcos lineage.

If he is not a wounded tiger, why would he have had to dish out negative comments on the simple appearance of a Marcos on the cover of a glossy magazine?

A hurting truth, this corner thinks.

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What does the PDP-LP pass Davao City Mayor Rodrigo Duterte for, a multiplespeak?

The tough-talking Duterte has time and again declared disinterest in the presidency, even saying he is a man of his word, meaning he values dignity and pride and will stick to his decision.

Now, the political party to which Duterte is aligned, in “compelling” him to run through a formal resolution is simply telling him to eat his own words.

“He must dutifully abide by the decision of the party,” the resolution read, according to J.V. Hinlo, PDP-Laban interim president.” GMA News Online)

* * * *

The United States is defying China as it sailed its destroyer on the China-claimed part of the Spratly Islands.

And China’s reaction was tough as its Foreign Ministry said, “relevant authorities” monitored, followed, and warned the USS Lassen as it “illegally” entered waters near islands and reefs in the Spratlys without the Chinese government’s permission.

The tirades went on, “China will resolutely respond to any country’s deliberate provocations. We will continue to closely monitor the relevant seas and airspace, and take all necessary steps in accordance with the need,” the ministry said in a statement that gave no details on precisely where the US ship sailed.

“China strongly urges the US side to conscientiously handle China’s serious representations, immediately correct its mistake and not take any dangerous or provocative acts that threaten China’s sovereignty and security interests,” it said.”

Equally tough is America’s stand, the second US defense official announced additional patrols would follow in the coming weeks and could also be conducted around features that Vietnam and the Philippines have built up in the Spratlys.

He called the US move something that will be a regular occurrence, not “a one-off event,”. And not having patrolled within 12 miles of the seven Chinese outposts since Beijing began building the reefs up at the end of 2013, America’s move now could apparently be viewed as a provocation.

This is how a South China Sea expert at Singapore’s Institute of South East Asian Studies says, “By using a guided-missile destroyer, rather than smaller vessels … they are sending a strong message, … so it really now is up to China how it will respond.” (MB)

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Sen. Grace Poe has a terse two-liner comment on the Escudero-Binay huddle. The PDI report, “ … Poe said she was surprised of the unexpected meeting of her running mate, Senator Francis Escudero, and rival, Vice President Jejomar Binay. She added it was a public event and not a secret meeting so she need not worry about it.

Whatever the true message was, to me, is hazy. So, whatever it truly meant, is for her to elaborate.