Ang denies offering to buy Meralco shares from Suntay

by Ces Oreña-Drilon, ABS-CBN News

Posted at Sep 25 2012 03:15 PM | Updated as of Sep 25 2012 11:15 PM

MANILA, Philippines - Emilio Aguinaldo Suntay, who filed a plunder complaint against San Miguel Global Power Holdings chairman Ramon Ang at the Office of the Ombudsman, said he met with the businessman three time to discuss the sale of Meralco shares. 

Suntay's complaint alleges the government would lose P8 billion from an anomalous purchase of shares held in Meralco by Land Bank. 

Suntay alleges that a share purchase agreement in 2008 between SMC Global for the purchase of 46 million shares in the power retailer was for only P4 billion, when businessman Manuel Pangilinan was offering a better deal worth P12 billion. 

In an interview with ABS-CBN News, Suntay claims to have personal knowledge of the allegedly anomalous transaction. 

He and associate Josefina Lubrica claim to own the same Meralco shares which they  garnished as part of a case they filed versus Land Bank as partial payment for the property covered by land reform.

"Bakit ko alam? Unang-una, I'm filing this case, nalaman ko ito na we have a related case to it, Ito yun isang case involved yung pamilya at mga kaibigan, CARP yun... Yung lupa na supposedly ibabayad sa amin ay nasa pangalan ko at ang aking kapatid. Yung shares na yan po ay nasa pangalan ng isang kaibigan namin," he said.  

Suntay claims to have met Ang thrice because the businessman wanted to buy their Meralco shares.

However, Suntay said his camp refused Ang's offer because they feared his plan to control the power and energy sector in the country.

"Nagkaroon na po ng maraming pagkakataon na yun party na kinasuhan namin dito ay nagsipaglapit. Not just once but a couple of times... One thing we can contribute to this is my own personal knowledge and my own personal witness and account of what transpired because I was pretty privvy to some of the things going on here," he said. 

In a text message to ABS-CBN News, Ang admits meeting with Suntay and says it was Suntay who offered to sell the shares at a discount. But Ang declined the offer because the shares belonged to Land Bank. 

"Yes, Suntay came to offer me Meralco shares that belong to Land Bank at a discount. I told him, 'how can I buy it when it's owned by Land Bank?'," Ang said. 

Aside from Ang, Suntay also included SMC Global board member Roberto Ongpin, former Finance Secretary and Land Bank chairman Margarito Teves, Supreme Court Justice Lucas Bersamin and Land Bank president and CEO Gilda Pico in the plunder complaint.

Suntay also asked that Bersamin be investigated for possible impeachment for reversing a Supreme Court en banc decision pertaining to the payment of landholdings covered by land reform. 

Suntay says Land Bank's petition questioning their claim on the ownership of Meralco shares is pending before Bersamin's division.