We might as well call this the Clash of the Business Titans.
“Property giant Ayala Land Inc. and S&P Construction Technology and Development Co. Inc. yesterday formalized their opposition to the joint venture between SM Land Inc. of retail magnate Henry Sy and the Pasay City government on the proposed 300-hectare Manila Bay reclamation project,” reports Lawrence Agcaoili in The Philippine Star.
According to the report, lawyers of both Ayala Land and S&P Construction asked the city council to step in as both companies didn’t quite agree with “the manner by which the city government’s public-private partnership selection committee (PPP-SC) is looking for a proponent of the massive reclamation project.”
For starters, Ayala Land’s external affairs head Dindo Fernando pointed out that “the November 4 deadline for the submission of competing bids for the SM Land proposal does not comply with the 2013 National Economic and Development Authority Joint Venture (NEDA JV) Guidelines, which took effect in May and gives interested parties 120 calendar days to submit their proposal.”
In other words, this means war.
