Capitol gets P9M dividend from CPVDC

CEBU, Philippines - The Cebu Property Ventures and Development Corp. (CPVDC) handed over yesterday to the Provincial Capitol P9 million in check for the latter’s dividend for 2014.

 CPVDC officials led by Cebu Holdings President Anecito Bisnar personally turned over the amount to Governor Hilario Davide III.

Davide said the province has a dividend from CPVDC since the provincial government is part of the company.

The governor said further they would have to discuss for what projects the P9 million would be spent, but the province is eyeing at purchasing new vehicles and heavy equipment.

“Maybe we can use that for some things we need here sa Capitol,” Davide said.

In a special session last year, the Provincial Board approved a resolution authorizing Davide to apply for a P200 million loan for the purchase of heavy equipment.

The province has already set aside P150 million for the purchase dump trucks, bulldozers, backhoes, graders and graders but the money is not enough, thus, the loan.

Meanwhile, Davide said CPVDC officials have yet to finalize the Memorandum of Agreement, which is hoped to settle the issues between them and Filinvest Land Inc.

In the same special session last year, the Provincial Board approved a resolution authorizing Davide to sign a MOA with CPVDC, as well as another MOA with Filinvest, “resolving” the dispute between the two companies on a perimeter fence located along W. Geonzon Street inside the Cebu I.T Park in Barangay Apas.

Davide said he has asked CPVDC officials about the status of the MOA and the latter have informed him that their lawyers are still drafting the document.

“I said let’s do it fast kay ang Filinvest pud, we also asked them to do it fast,” Davide said, adding that they want this to be resolved as soon as possible.

He also said that all concerns have been discussed well by both parties and the Provincial Government.  “Hopefully wala na mga hitches,” Davide said. — (FREEMAN)