DISCLOSURE DEPARTMENT The Philippine Stock Exchange 3/F Tower One and Exchange Plaza Ayala Triangle, Ayala Avenue Makati City
Attention: JOSE VALERIANO B. ZUÑO III OIC - Head, Disclosure Department
Gentlemen:
We reply to your request for comment/s and/or confirmation on the news entitled, “DMCI Chairman Consunji: Conclusion may be premature” posted in Inquirer.net on January 10, 2018. The article reported in part that:
“MANILA, Philippines — The government may have based its allegations against two logging firms on ‘premature’ conclusion, DMCI chairman Isidro Consunji said in a phone interview yesterday.
DMCI is the mother company of South Davao Development Company Inc. (Sodaco) and Sirawai Plywood & Lumber Corp. (SPLC) in Sibuco, suspended by the Department of Environment and Natural Resources (DENR) on President Duterte’s orders.
‘I’m not aware of that,’ he said, referring to the suspension. ‘I already asked our people in the area and they said that our operations are very far from what they are referring to,’ Consunji told The STAR.
‘The secretary’s conclusion may be premature,’ he said, referring to agriculture chief Emmanuel Piñol. ‘They should study and investigate it first before (they decide).’
Consunji said they will wait for an official order from the DENR before making further comment. ‘We don’t know the findings yet. I don’t know what they are saying and I am not aware of any violation,’ he said. In a statement yesterday, Sodaco belied Piñol’s declaration that logging operations of the Consunji family were to blame for the deadly flooding and landslides in the Zamboanga peninsula, particularly in the towns of Sirawai, Siocon, Sibuco and Balinguian. . . . .”
We would like to clarify the following:
DMCI is not the mother company of South Davao Development Company Inc. (Sodaco) and Sirawai Plywood & Lumber Corp. (SPLC). As such, the two companies' suspension by the Department of Environment and Natural Resources has no possible effect on the operations and financial condition of DMCI Holdings, Inc.
Please note that the statements issued by Mr. Isidro A. Consunji were made in his personal capacity and not as the Board Chairman of DMCI Holdings. Any statements he made regarding Sodaco and SPLC were issued in the interest of the Consunji family, and not DMCI Holdings.
We would also like to clarify that DMCI Holdings is not into logging, and has no agribusiness investments in Mindanao. Our investments in the area only include a real estate project in Davao and a power plant in Sultan Kudarat.
Thank you. |