BCDA hits SC rule on SMLI offer

The Supreme Court has ruled in favor of the commercial interest of a business conglomerate despite its adverse impact on the armed forces, which have been disposing of properties to raise funds for its modernization program, the state-owned Bases Conversion Development Authority (BCDA) said.

BCDA President and Chief Executive Officer Arnel Casanova said the Supreme Court Third Division has denied its motion for reconsideration of its appeal to open to competitive bidding the proposed sale of the 33.1 hectare Bonifacio South Pointe.