Misinformation daw! Saavedra threatens Bilyonaryo website with cyberlibel for Megawide fiasco story | Bilyonaryo Business News
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Misinformation daw! Saavedra threatens Bilyonaryo website with cyberlibel for Megawide fiasco story

Bilyonaryo Edgar Saavedra has threatened to file cyber libel against the Bilyonaryo website for reporting that Megawide’s P109 billion offer to rehabilitate and expand the Ninoy Aquino International Airport was junked by the Department of Finance and National Economic and Development Authority.

READ: Laway lang kasi puhunan! DOF, NEDA junk Saavedra’s P109B NAIA offer; Megawide’s equity too puny, funding sources speculative

In a statement, Megawide branded Bilyonaryo’s November 23 report as “misinformation” claiming that the November 19 letter of Secretaries Sonny Dominguez and Karl Chua “merely asked for the full submission of the requirements from the Megawide-GMR consortium.”

Megawide claimed that it had complied with requirements demanded by Dominguez and Chua on November 20 when it submitted to the Manila International Airport Authority “additional documentary proof of the capability of the Megawide-led consortium to sustain the financing requirements of the project.”

Megawide “cautions anyone from quoting this website” as it warned that “persons found to be propagating libel at the the expense of Filipino jobs and livelihoods should expect to be full prosecuted under our laws.”

“Misinformation such as this may cause further unnecessary delays and complications that affect the timely delivery of much-needed infrastructure projects, especially at a time when our country needs it the most,” said Megawide.

Bilyonaryo is standing by its exclusive story.

In the November 19 letter obtained by Bilyonaryo, Dominguez and Chua declared that Megawide’s P18 billion equity was insufficient to finance the P32.3 billion equity requirements for the NAIa project.

They also branded as “speculative” Megwide’s alternative plans to make up for puny equity.

“(These) are not guaranteed to materialize…the financial capability of Megawide is mostly hinged on uncertain sources. More importantly, the requirement under the BOT (Build Operate Transfer) Law and its IRR (implementing rules and regulations) is to establish the financial capacity at the time of submission of the proposal,” said Dominguez and Chua.

Dominguez and Chua noted that since the Department of Transportation endorsed Megawide’s project in July 2020, “we still have not received any document” that would prove Megawide’s capacity to take on NAIA along with its other projects.

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