R. Tiglao Challenges Inquirer Journalists to Debunk His Claim that the Rufino Clan are Marcos Cronies

Veteran journalist Rigoberto Tiglao challenges Inquirer journalists to debunks his latest claims and expose that the owner of country's largest newspaper, are allegedly cronies of the late dictator Ferdinand Marcos with an estimated profits from crony deal around P4 Billion.

The Rufino-Prieto Family (Photo Credit: MindaVote)
Rigoberto "Bobi" Tiglao was also shocked upon his discovery because Inquirer had been the loudest megaphone of the anti-Marcos uprising in1986 but based on the documents gathered by Tiglao, the Rufino family, which owned 67 percent of PDI were allegedly Marcos cronies through their ownership of Sunvar Realty and Development Corp.

Former First Lady and now Representative Imelda Marcos through the Technology Resource Foundation (TRCF) she had founded and was the chair of, gave the Rufino's Sunvar Realty and Development Corp. the 22,9900-square-meter Makati prime commercial complex known as Creekside/Mile Long in 1989, at the apext of the dictator's power, to use as they pleased until 2002.

The current chairman of the Philippine Daily Inquirer, Marixi Rufino-Prieto, is one of the pillars of the Rufino clan, the other being Carlos. Marcos' largesse would certainly put the Rufinos in the crony club, using the PDIs own definition (In the Know: Oligarchs and cronies," August 5, 2016): "Crony became the term used to refer to the new rich during the martial law.

The veteran journalist of The Manila Times, R. Tiglao also revealed how much did Imelda Marcos charge the Rufinos as lease on the controversial Mile Long Property, a ridiculous P3 per square meter per month.

Documents showed that the payment for the whole life of the lease, from 1980 to 2002, was P15.7 million. There are no reports nor documents to show that the property was auctioned in order for TRCF to get the highest revenues for its projects.

The contract between the Philippine government during the Marcos area and the Rufino clan was referred to by Pres. Rody Duterte as "Inquirer's Sweetheart Deal."

Here's an explanation by Tiglao, how sweet was the deal, in terms of how much the Rufinos earned from this contract?

• If the Rufinos through Sunvar sub-leased the property at a realistic average price of P200 per sq.m per month (which means a believable P4,000 rent for a 20-sq.m. store) in the 252 months from 1980 to 2002, when their lease officially ended, the Rufinos would have profited P1 billion (less the P15.7 million rent to government).

• If we assume that the average rent in Mile Long from 2002 to 2016 was P1,000 per sq. m. per month (P20,000 for a store), the Rufinos would have earned P3.6 billion, with their Sunvar not paying any rent to government during this period.

Based on estimates made by the group headed by Tiglao, revenues from this crony deal therefore: a mammoth P4.6 billion in the 26 years they have controlled, and got rents from, the government's Makati property.

To know more about the challenge and expose of R. Tiglao about the Rufino Clan being Marcos Cronies, just head on to the official website of The Manila Times.

Source: The Manila Times

R. Tiglao Challenges Inquirer Journalists to Debunk His Claim that the Rufino Clan are Marcos Cronies R. Tiglao Challenges Inquirer Journalists to Debunk His Claim that the Rufino Clan are Marcos Cronies Reviewed by Phil Newsome on 5/01/2017 Rating: 5

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