Ang denies plan to acquire dzRH

"Add the Philippine STAR, Inquirer, ABS-CBN and (GMA) 7 to my shopping list."

This was the sarcastic reply made by presidential publicist Dante Ang when asked to comment on reports that he is now setting his sights on purchasing dzRH, a local AM-band radio station.

Ang led a group of investors who purchased 60 percent of the stock of Bankwise Inc., a thrift bank once known as Bank Dharmala.

He also acquired exclusive distribution rights and the corporate name of home appliance manufacturer Tecnogas Inc.

Ang seemed peeved by his critics, who are second-guessing his next takeover targets.

"Instead of being praised for my efforts to save troubled companies, what do I get? I was just invited to invest in these companies. I thought that they were good investments, so I agreed," Ang said in a telephone interview.

"In the face of global economic problems, we should be showing our resolve and faith in the government by investing in the Philippines," he added.

When asked if he would continue to invest in other companies, Ang replied, "if the price is right and if there’s really an opportunity to make money, then why not?"

DZRH is owned by the Manila Broadcasting Co., which owns and operates the largest radio network in the Philippines and Asia.

Ang again said all his business dealings are aboveboard, something he also said in a letter to Sen. Ramon Magsaysay Jr., chairman of the Senate committee on banks, financial institutions and currencies.

Ang also said in his letter to the senator that he has never kept his business activities secret from the public and that all his business dealings "have always been legal."

Ang also challenged his detractors to file the appropriate charges against him in court "instead of defaming my character and the honor of my family in media."

"Last year, when (then) Sen. Blas Ople was selling the idea of a National Economic Summit to President Arroyo and the private sector, he said that helping to keep a troubled company above the water was a high act of patriotism. I had thought that by helping rescue the two companies, I would earn some praise instead of criticism," Ang said.

"My act helped generate jobs and creates income. It is a vote for the future," Ang said of his corporate acquisitions.

Bankwise has been burdened by unpaid internal loans and requires rehabilitation, while Tecnogas’ Philippine operations were severely crippled and by an eight-month strike that created extreme financial problems for the firm, which closed in October last year.

Ang also owns the Manila Times and the Tagalog-language daily tabloid Kabayan, among other media and business interests. He also sits as chairman on the board of directors of government-sequestered television network RPN-9.

Ang said he was approached by his friend, investment firm Seed Capital Inc. owner Roberto Guevarra to invest in Bankwise. Seed Capital now owns 60 percent of Bankwise.

Ang made a down payment of P10 million over five months for his investment in the bank, he said. The balance of P40 million that makes up the unpaid part of Ang’s share of the investment is payable over a period of five years at 12 percent interest based on diminishing value.

Ang was elected chairman of the Bankwise board of directors, representing Seed Capital, on April 22. However, Ang said he is not a Seed Capital Inc. shareholder.

Ang also said he will do his best to ensure that Bankwise stays viable and that the interests of depositors and investors will be fully protected.