Press Release
August 29, 2018


Senator Chiz Escudero has filed a resolution to set the stage for a Senate inquiry into the alleged graft and corruption committed by former trustees and officials of the Nayong Pilipino Foundation (NPF) when it entered into an integrated resort project to be constructed on its property in Parañaque City.

Through Senate Resolution No. 858, Escudero is asking the Senate to direct the Senate Blue Ribbon Committee to investigate the NFP's 50-year lease agreement with Landing Resorts Philippines Development Corporation, whose parent company is the Hong Kong-listed Landing International.

Landing International is to build a $1.5-billion integrated resort and theme park to be called NayongLanding in the Entertainment City, home to Resorts World, Solaire, City of Dreams and Okada Manila. The project is expected to be completed in 2022.

On August 7, President Rodrigo Duterte sacked the entire NPF board on grounds that project was disadvantageous to the government, as it stands to lose at least P517 million a year in land rental.

"Corruption, power play, incompetence and dishonesty especially if government is involved, adversely affect not only this particular project but other high-stakes development projects of the government," said Escudero, who chairs the Senate Committee on Banks and Financial Institutions.

"The costs and consequences of corruption is very damaging to the country's much touted 'Build, Build, Build' program. It distorts our much-needed infrastructure developments, it delays or even scraps services needed by those who rely on government," he added.

According to Escudero, he also wants to look into the other business interests of Landing International in the Philippines.

"There are talks that Landing is engaged in other business activities in the country using affiliates and local partners. Are these in government, too? Do these involve the same supposition and allegations of corruption?" he asked.

The veteran senator said the inquiry was imbued with public interest that "must exact accountability from public officers and investors in government."

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