R. Tiglao Exposed the P2 Billion Unpaid Rentals of Inquirer's Mile Long Property to the National Government


Veteran columnist of the Manila Times, Rigoberto Tiglao exposed anew the controversial properties owned by one of the largest news media conglomerates in the country, Inquirer. According to R. Tiglao's expose the unpaid rentals of Mile Long Property owned by the Rufino/Prieto family would total a mammoth P1.8 billion.


The Rufino/Prieto family owned the controversial Makati property called the Creekside/Mile Long complex which allegedly owed the national government which up to this day have not paid. The unpaid Mile Long rentals when added up to the alleged tax liabilities of another Inquirer company, the operator of Dunkin' Donuts would total to P3 billion according to Tiglao.

The Philippine Daily Inquirer (PDI) controlling owners are the Rufino/Prieto family with 75 percent while the next biggest shareholder, with 25 percent, is a firm set up using the pension fund of PLDT, which Indonesian magnate Anthoni Salim controls.

R. Tiglao noted on his latest article with The Manila Times that if government's claims are valid, and its figures are accurate, the Rufino/Prietos' liabilities through their firm Sunvar Realty and Development Corp. (operator of Mile Long) would be this P1.8 billion, plus the P1.5 billion alleged tax evasion by another firm the Inquirer own, Dunkin' Donuts.


The three-billion possible liabilities of the Inquirer-owned firms would put the company in the league of Chinese Filipino tycoons notorious for being tax evaders. This could be the reason why Pres. Duterte angrily promised to investigate the case.

Based upon the documents gathered by the columnist R. Tiglao, the Mile Long Property was originally leased to the Prieto firm in 1980 and 1983, allegedly at a scandalously low rental by the Technology Resource Center Foundation, controlled at the time by Imelda Marcos.

The lease expired in 2002, although the Prietos owner of Inquirer continued to control the property as if nothing happened, and refused to vacate it. The 29,000-square meter prime commercial property in Makati (between Amorsolo and Chino Roces Avenue, valued now at about P6 billion) and collected rentals from the over 400 stores there for 14 years, after its lease expired in 2002.

The estimated P1.8 billion amount translate to a measly rent of P360 per square meter per month government is asking Sunvar to pay - a give-away price in a prime area where rents are at last P50,000 per square meter per month. 

Read more about the expose of R. Tigla by visiting the official website of The Manila Times.

Source: The Manila Times


R. Tiglao Exposed the P2 Billion Unpaid Rentals of Inquirer's Mile Long Property to the National Government R. Tiglao Exposed the P2 Billion Unpaid Rentals of Inquirer's Mile Long Property to the National Government Reviewed by Phil Newsome on 4/21/2017 Rating: 5

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