Kidnappers reduce ransom for Chinese trader

COTABATO CITY, Philippines  – Kidnappers have lowered to P500,000 the ransom they want for a Chinese businessman they snatched here April 1 after they realized the victim is not as wealthy as what they must have thought.

The victim, Jinkee Lim Yap, operates a small grocery store along the busy Sinsuat Avenue here.

Senior Superintendent Danny Reyes, director of the Cotabato City police, said they have been receiving persistent feed from the Chinese community that the captors of Yap, 40, was lowered from P15 million to only P500,000 their ransoms demand after realizing her family is not capable of paying them even P1 million.