Home | Money Matters | Davocc guv ends $24-b contract with ‘Pionaire’

Davocc guv ends $24-b contract with ‘Pionaire’

By Eldie S. Aguirre, Correspondent

provincial government of Davao Occidental has terminated the memorandum of understanding (MOU) with a Hong-kong-based firm, Pionaire Finance Limited due to ‘unwarranted’ action committed by the firm.

Davao Occidental Governor Claude Bautista, through his lawyer Atty. Caesar Europa said officials of Davao Occidental were dismayed over reports that Pionaire Finance Limited has scheduled a ground-breaking ceremony without their concurrence.

The firm, Pionaire with an office address at 19/F Lee Garden One, 33 Hysan Avenue, Causeway Bay in Hongkong has entered an MOU with the province of Davao Occidental on August 2, 2017 about the planned  2,000 hectares Marina and industrial park worth USD24 billion.

“My client (Bautista) has raised doubts to the sincerity of Pionaire after it initiated actions without the knowledge of the other party which is the provincial government of Davao Occidental,” Europa said.

Bautista terminated the MOU on October 25.

“How come Pionaire set a ground-breaking when we have yet to comply all the prerequisites with the implementation of the project? The province has not yet moved a single scope of earth to start developing the area,” Europa said.

Europa has clarified that Pionaire is just one of the many investors wanted to come into the industrial park.

“The severed ties will not affect our plans in any ways. We will pursue with the acquisition of documents to come up with all the requirements before we start the project.”

He also debunked rumors and insinuation allegedly came from Pionaire that there was no land use certification issued by PEZA to the industrial park prompting the cancellation of the ground-breaking ceremony.

On the other hand, Pionaire executive assistant Maydee Libago announced the termination of the project in a press conference at the Marco Polo Hotel in Davao City on October 27 after the scheduled ground-breaking on the same day was called off.

“The cancellation of the project was due to legal and land use plan inconsistencies,” Libago said.

The lawyer told journalists Pionaire was reportedly collecting huge sum of money from contractors as accreditation fees. The amount reached as high as $4,000.

“As of now the papers is at the DAR office for the final land conversion. We will proceed with the planned industrial park after all the prerequisites are in place,” Europa said.

Davao Occidental is currently tapping the NBI to conduct an in-depth investigation as to the real status of Pionaire after Bautista learned that there is a pending case at the Ombudsman against top officials of the Philippine National Oil Corporation (PNOC) that linked an MOU with Pionaire Finance Limited.

“We are willing to help any concerned party that may need our assistance as regards to the controversy involving the Pionaire, in its activities in the proposed industrial park of Davao Occidental,” Europa said.



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