Stanley Ho a no-show

Stanley Ho missed the boat, on purpose.

The Macau casino tycoon, smarting from criticisms, cancelled his trip to the country for the opening last night of his controversial Jumbo Palace floating restaurant.

In a full-page newspaper advertisement, Ho said allegations against him and his businesses in the Philippines have been "so vilifying and bitter and cynical as to be completely unacceptable."

Media reports quoting a 1999 intelligence report from Canada have linked Ho to an international crime syndicate, while politicians have alleged he illegally contributed to the campaign fund of US President Bill Clinton.

"The allegations are unsupported by any evidence and groundless," said Ho, who expressed hope that an investigation on his background, being conducted by the Philippine National Police (PNP), would soon result in "a conclusion to this maelstrom."

"I understand there is some sort of investigation being undertaken and I look forward to having my good name cleared," he said. "In the meantime, I am seeking legal advice on these libelous accusations."

Ho did not state if he will make good his threat to pull out his investments from the Philippines "if the situation turns bad enough." But he confessed to "great bewilderment" regarding the controversy over his investments.

Since Ho poured in $30 million in equity into gaming and leisure firm BW Resources Corp. last November, the Catholic Church, activist groups and local politicians have opposed his presence in the country.

Ho, credited for turning Macau into Asia's biggest casino center, also owns 40 percent of the New World Hotel in Makati City and has held P500 million worth of Philippine stocks since 1987.

Recently, he transferred his floating restaurant to Manila from Hong Kong.

Ho said his investments "were being undertaken in good faith as an indication of my commitment to the underlying soundness of the Philippine economy and the well-being of its people."

"I would also point out that the Jumbo Palace has already been fully booked by tourist agencies to the end of the year," he said. "This clearly shows a healthy contribution to the tourism industry and the public service sector in the Philippines."

Ho's other proposed investments in the Philippines include setting up a fully air-conditioned high-speed ferry service between Manila and Subic as well as low-cost housing projects.

However, these plans have been put on hold due to the bad press Ho has been receiving.

"I can say most assuredly that our plans in the Philippines were made on the basis of sound investment principles as I have done in Macau for over the past 30 years, resulting in the development of a territory of which I remain very proud," he said.

"My investments remain most welcomed by the Macau government as they are all over the world except, perhaps, the Philippines, and from the viewpoint of the economy here, this is indeed a shame," he added.

In his paid advertisement, his name was followed by the abbreviations of international honors he has received, including those from the Vatican and Britain: "O.B.E., Gr. Cross O.I.D.H., Chev. Leg.d'Hon., S.P.M.P., D.Soc.Sc., C.St.J."

The Catholic Church in the Philippines has protested that Ho is using the papal awards to give himself credibility.

Meanwhile, Malacañang shrugged off Ho's disparaging remarks on the country's investment climate, reiterating the country's commitment to create a more friendly environment for domestic and foreign investors.

Presidential Spokesman Fernando Barican said that while Ho is entitled to his opinion, his comment will not stop the government from enticing investors to do business in the country.

"That is his opinion. We will not be commenting on his views. Our job is to make the country more business-friendly for investors," Barican said.

The Jumbo Palace was blessed yesterday amid protests from cause-oriented and religious groups.

Hundreds of policemen and private security guards were posted at the Cultural Center of the Philippines (CCP) complex to keep an eye on around 100 protesters led by the Solidarity Against Gambling in the Philippines (SAGIP).

Security was especially tight at the area leading to the main entrance of the Jumbo Palace, with guards barring even journalists from getting near the floating restaurant.

Several reporters tried in vain to get a few words from management on the details of the blessing rites as well as on allegations that the floating restaurant would double as a gambling den.

"We're sorry but everybody inside is busy for the blessing," one security guard said.

SAGIP counsel and human rights lawyer Romeo Capulong warned the public yesterday that once the floating restaurant starts operations, it will subsequently double as a casino.

The placard-bearing rallyists tried to get near the floating restaurant but were barred by policemen deployed on orders of Metro Manila's police commander, Chief Superintendent Edgar Aglipay.

Some 50 students also protested in front of the Jumbo Palace, alleging that the restaurant would be used as a front for casino operations, prostitution and other crimes. --