CURRENT REPORT UNDER SECTION 17 OF THE SECURITIES REGULATION CODE AND SRC RULE 17.2(c) THEREUNDER
1. Date of Report (Date of earliest event reported)
Dec 2, 2020
2. SEC Identification Number
CS200411461
3. BIR Tax Identification No.
232-715-069-000
4. Exact name of issuer as specified in its charter
Megawide Construction Corporation
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
No. 20 N. Domingo Street, Barangay Valencia, Quezon CityPostal Code1112
8. Issuer's telephone number, including area code
(02) 8655-1111
9. Former name or former address, if changed since last report
Not Applicable
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class
Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common
2,013,409,717
Preferred
97,126,000
11. Indicate the item numbers reported herein
Item 9
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
Megawide Construction CorporationMWIDE
PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
Clarification re: “NBI OKs filing of anti-dummy charges vs Megawide’s Saavedra, Indian partner for Mactan airport project”
Source
bilyonaryo.com.ph
Subject of News Report
NBI OKs filing of anti-dummy charges vs Megawide’s Saavedra, Indian partner for Mactan airport project
Date of Publication
Dec 2, 2020
Clarification of News Report
We write with respect to the news article published by bilyonaryo.com.ph on 02 December 2020, entitled “NBI OKs filing of anti-dummy charges vs Megawide’s Saavedra, Indian partner for Mactan airport project”. The article reported in part that:
“Bilyonaryo Edgar Saavedra is facing charges before the Department of Justice (DOJ) for allegedly violating foreign equity restrictions when his company, Megawide, partnered with the New Delhi-based GMR Infrastructure Limited for the operation of the Mactan Cebu International Airport (MCIA).
Based on documents obtained by BILYONARYO, the National Bureau of Investigation’s Anti-Fraud Division (NBI-AFRAD) recently recommended the prosecution of Saavedra and 13 other Filipino and foreign officials of GMR Megawide Cebu Airport Corporation (GMCAC) for the alleged violation of Commonwealth Act No. 108, otherwise known as the Anti-Dummy Law.
The NBI found evidence against Saavedra and his business partners for violation of the Anti-Dummy Law penalizes persons and corporations which circumvent the foreign equity restrictions stated in the Constitution.
Results of the NBI’s investigation showed the grant of a 25-year franchise to GMCAC for the operation of MCIA was unconstitutional. . . . .
The NBI also recommended for prosecution three other Filipino GMR-Megawide officials: lawyer Steve Dicdican, MCIA Authority General Manager Manuel Louie Ferrer, and executives Oliver Tan and Jez Dela Cruz. . . . .”
GMR MEGAWIDE Cebu Airport Corporation (GMCAC) denies all of the allegations in the article and it will vigorously defend itself and exercise all legal remedies to protect it from this contemptible action. As of writing, GMCAC has not received any correspondence from the Department of Justice (DOJ) regarding the alleged complaint.
GMCAC is proud of its performance and its business success as the airport operator of the Mactan-Cebu International Airport (MCIA). Such malicious publicity does a disservice to Filipino airline passengers and to the many men and women who make GMCAC an outstanding company. We, together with GMR, upon official receipt of correspondences, will answer such allegations and we are confident that these will not prosper in court.
As widely-held, publicly listed companies, Megawide and GMR strictly adhere to pertinent laws, rules, and regulations, including those relating to projects bidded by the Philippine National Government. We have done so at the MCIA and will continue to do so for the proposed rehabilitation and transformation of the Ninoy Aquino International Airport.
Attempting to bring down capable and qualified local players for their own vested interests at a time of crisis is anti-progress and anti-Filipino. Crab mentality is a roadblock to inclusive economic recovery that we must fight and overcome.
We trust that the foregoing is sufficiently helpful to you. Please do not hesitate to call us should you have any further questions.
Megawide Construction CorporationMWIDE