CJHDevco inadvertently identified as BCDA subsidiary
The Philippine STAR’s Dec. 17, 2011 issue carried a story bylined by Michael Punongbayan with the title “BCDA urged to take legal action vs Camp John Hay Dev’t. Corp.”
In that story, Camp John Hay Development Corp. (CJHDevco) was inadvertently identified as one of BCDA’s subsidiaries.
Through this letter, please allow us to clarify that CJHDevco is a private corporation and is merely lessee under a lease contract signed with the BCDA in October 1996 under which CJHDevco is obligated to pay annual lease rentals for developing certain portion of state-owned Camp John Hay into civilian use. CJHDevco is not and has never been a subsidiary of the BCDA.
The BCDA subsidiary overseeing the development of Camp John Hay into a tourism special economic zone as mandated by Republic Act 7227 is the John Hay Management Corporation (JHMC), a GOCC, currently headed by Dr. Jamie Eloise Agbayani as president and chief executive officer.
Mr. Punongbayan’s news report was, without doubt, culled from a Commission on Audit recommendation to initiate legal action against CJHDevco for non-payment of the lease rentals which now totals P2.6 billion.
Through this letter, we wish to set the record straight on BCDA’s lease contract with CJHDevco which should not be confused with JHMC as the true and actual subsidiary.
May we also take this opportunity to assure the public that the BCDA is exploring all avenues leading to a settlement of CJHDevco’s arrears.
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