Chinese Billionaire builder behind PH mega-drug rehab faces corruption probe: report

Photo by Reuters
Photo by Reuters

A Chinese tycoon who funded a drug rehabilitation center in Luzon is now under investigation by Beijing over corruption allegations, a report by Financial Times said Wednesday.

The London-based publication said Huang Rulun, China’s 49th richest, was removed late last week from his position in the Fujian province political consultative conference, an advisory body.
This, after an anti-corruption watchdog in Beijing announced Friday that Huang is facing investigation for alleged bribery.

Huang could not be reached for comment, the Financial Times said.

The Palace meanwhile said it is up to the Chinese government to resolve the issue.

“That is of course internal to China and rest assured that President Duterte is one with the President of the People’s Republic of China in its drive against corruption and that’s up to China already to resolve,” Presidential Communications Assistant Secretary Marie Banaag said in a statement.

Huang, a school drop-out, was once a small-time trader in Manila and made “a modest fortune”, according to The Philippine Star newspaper. It was not clear what he traded.

Skilled in creating “guanxi” or relationships, Huang reportedly returned to Fujian in the 1990s, when the province was a hotbed for trade and investment by overseas Chinese.

According to Forbes magazine, he is now worth about $3.6 billion.

His privately-held Century Golden employs 20,000 people and posted close to $5 billion turnover last year, according to its web site. It owns 20 five-star hotels and 10 shopping malls, including the major Century City complex in Beijing.

President Duterte met Huang during an October visit to China. The meeting took place the day after the Filipino leader announced a realignment of his nation’s foreign policy towards Beijing.

Huang then poured money into the a mega drug rehabilitation in Nueva Ecija that could house 10,000 patients.

Duterte said people like Huang are the real friends of Filipinos.

“When you are a friend, you do not treat him badly before the public. You don’t humiliate an ally, and at all cost you must save the friendship as an ally and friend so that you can help each other in the world of geopolitics,” Duterte said.

Re-published from ABS-CBN News



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