Rep. Angping airs side

Manila Rep. Harry Angping said yesterday he intervened in the sale of a property in his district because he wanted to protect his constituents.

"I have no interest in the property. I just wanted to protect the interest of my constituents and thousands of war veterans who own the Philippine Veterans Bank (PVB), the seller," he told The STAR.

Angping was reacting to the filing of a misconduct case against him by businessmen Mark Purisima and Heinrich Suson, who in 1998 bought a PVB-foreclosed apartment building in Sta. Cruz, Manila for P7.1 million.

The solon said the two buyers wanted to eject the tenants of the 15-door building when he intervened. He said his constituents wanted relocation cost of P100,000 each for a total of P1.5 million but the buyers were offering only P100,000 for all 15 tenants, or less than P7,000 each.

He added that he also wanted the bank to give his constituents the first option to buy the property "since they are occupants of good standing and they have been there for 30 to 40 years."

Angping pointed out that the deal is questionable from another angle: the interest of PVB owners are war veterans.

He said the bank sold the property consisting of a 519 square-meter lot and the apartment building for P7.1 million when the asset could have been easily sold for at least P20 million.

"Lot prices in that area, which is just a block away from Rizal Avenue, ranged from P45,000 to P50,000 per square meter at the time the property was sold for only P13,680 per square meter," he said.

He said had the sale been consummated, the buyers could have just turn around, sold the property and made millions.

He added that he filed a resolution in the last Congress proposing that an inquiry be conducted into the transaction. "There is some fraud in the deal. This could have prompted the bank not to consummate the sale," he said. – Jess Diaz