THIS is a suggestion to Rep. Magnolia Rosa Antonino Nadres of Nueva Ecijca, the author of HB 4820 renaming the 84-kilometer North Luzon Expressway after the mother of the present Malacañang chief occupant. Because she came from another province away from NLEX, she sponsored the proposed legislation, imposing her idolatry on the people of some towns in Bulacan and Pampanga.
Renaming NLEX after her idol, according to Antonino, “will bestow honor on and perpetuate the memory of the late president…” Really? What honor was she talking about?
What memory is there to perpetuate in naming NLEX after a native of Tarlac when not even an inch of NLEX passes thru her province? It would have been more appropriate for Nadres to suggest the renaming of Hacienda Luisita after the late Malacañang chief woman occupant.
But CoCoA expressway? What an acronym!
Congress’ imposition on the people of the provinces of Bulacan and Pampanga should not be allowed to happen. Where are the five lawmakers who represent the two provinces in Congress? Have they all been sleeping when the House Committee on Public Works approved Nadres’ bill? Who are they supposed to represent and whose interest should they fight for? Have they all become so submissive to Malacañang?
Of course, the committee chairman Ronald M. Cosalan was not expected to oppose the renaming of NLEX because he is not from Bulacan. He represents Benguet and the interest of his constituents. Why should he care at all about Bulacan and Pampanga?
Antonino should review the events that led to the passage of a law allowing the distribution of certificates of shares of stock to tenant farmers instead of farm lands. She should have known that the farmers of Hacienda Luisita have won their fight for the abolition of her late idol’s version of corporate agrarian reform law.
Please remember the Supreme Court ruling against the late president’s agrarian reform law!
Antonino should know that Chief Justice Renato Corona was impeached and eventually ousted not for his savings account but because her president, Malacañang’s present chief occupant, hated him for ruling against his inheritance.
As someone from Nueva Ecija, Antonino should be told that not everybody loves her idol as much as she does. So she should not force us to love her too. By “us,” I am referring to those of us who used to live and those who still live in Meycauayan, Marilao, Bocaue, Balagtas, Guiguinto, Malolos, Plaridel and Pulilan in Bulacan; and San Simon, San Fernando, Mexico and Angeles in Pampanga. NLEX traverses all these towns.
Why doesn’t Antonino rename Nueva Ecija after her idol? Let us see how Novo Ecijanos would react to her not-so-wise proposal but which, to her, would be patriotic
A major diversification
As most of the public investors must have learned thru postings on the website of the Philippine Stock Exchange, South China Resources Inc. is now SOCResources Inc. (SOCR).
There is a good reason for the new name. “Due to the current geopolitical status in the West Philippine Sea,” it informed its stockholders in a PSE posting, “the company deemed its former corporate name no longer suitable.” It did not say it does not want to be caught in the controversy involving the claim over the area of both the Philippines and China.
Despite a different identity and a new business focus, SCRI remains public. It has 367 stockholders who own 901.92 million outstanding shares. Three significant stockholders hold a total of 688.2 million shares, or 76 percent of 901.92 million outstanding shares. Belen R. Castro owns 231.5 million shares, or 25.67 percent; her brothers Edgardo Reyes and Wilfredo P. Reyes own 229.85 million shares, or 25.48 percent, and 226.85 million shares, or 25.15 percent, respectively.
Erap as stockholder
If you are one of SOCR’s public stockholders, you are lucky to be in good company. Former president and now Manila Mayor Joseph Estrada is a subscriber to 500,000 shares, for which he paid P125,000, leaving him with 375,000 unpaid subscribed shares worth P375,000 at P1 per share.
Due Diligencer is reporting SOCR’s ownership profile in view of the new thrust of the company. It is now engaged in property development thru a subsidiary which it incorporated on Nov. 11, 2010. This is a major diversification from oil and gas search to property development.
At this point, it would be better for the public to review SOCR’s filings to apprise themselves of the goings-on in the company’s boardroom. They should be active stockholders by attending SOCR’s stockholders’ meeting to be held at 2:00 p.m. on May 29, 2015 at the West Room of the Manila Golf and Country Club. One question to ask is: Will the Reyeses allow the public to directly invest in SOCR’s unit SOC Land Development Corp.?