Reasons Why Pres. Duterte Vowed to "Destroy" Roberto Ongpin

The first President from Mindanao, Pres. Rody Duterte has vowed to "destroy" oligarchs in the country and one of those he singled out is no other than popular business tycoon Roberto Ongpin, the man behind the PhilWeb Corp.

Pres. Duterte's statement of singling out Mr. Ongpin was released during his speech before members of the Parish Pastoral Council for Responsible Voting (PPCRV) in MalacaƱang on Wednesday.

The chief executive was quoted as saying "Ang plano [ko] talaga is [to] destroy the oligarchs that are embedded in government,” Duterte said in a speech.

According to the 71-year-old President, Mr. Roberto Ongpin has the political connections, which he apparently used to promote his business interests.

“I’ll give you an example, publicly, Ongpin, Roberto. Malakas kay (Ferdinand) Marcos noon, trade minister, I think. Malakas and successful. (During) Ramos he was a hanger on and kay Gloria (Arroyo), PNoy. Now he owns the online [gambling],” he said.

Know More About Roberto Ongpin:

Roberto Ongpin is the owner of online gaming firm PhilWeb Corp, the company entered into contracts with the Philippine government.

The Forbes listed millionaire ranked No. 20 in the Philippines in the 2015 list of richest people in the country with an estimated net worth of $900 million.

The 79-year-old Roberto Ongpin is considered as one of the country's self-made millionaire who previously worked as Minister of Trade and Minister of Industry during the Marcos administration.

Roberto Ongpin who is married with four (4) children owned majority shares in some of the country's major firms such as Alphaland, Philex Petroleum Corp, Brixton Energy & Mining Corp., Philex Gold Holdings, Inc., Philex Gold Philippines, Inc., Silangan Mindanao Exploration Co., Inc., Silangan Mindanao Mining Co., Inc. and Petroenergy Resources Corp.

Ongpin was also involved in a P174-million insider trading fine imposed by the Securities and Exchange Commission (SEC) on his Philex Mining Corp. shares in 2009 but the Court of Appeals issued a TRO.
Reasons Why Pres. Duterte Vowed to "Destroy" Roberto Ongpin Reasons Why Pres. Duterte Vowed to "Destroy" Roberto Ongpin Reviewed by Phil Newsome on August 04, 2016 Rating: 5
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