We were notified that an article written by Philstar’s Boo Chanco, published Mar 12, 2010, seemed to back our sources’ report that business tycoon Enrique Razon (infamous for his involvement in the ZTE-NBN scandal) has provided funds for Noynoy’s multi-million campaign.
Although not named, he describes “Ate Glue’s crony” as “chief financial officer of [her] personal political party.”
He also writes,
Since a good part of the business of this crony is foreign based, it is easy enough to disengage at a time like this. But this crony is a master of timing and knows when to cash in on an investment. He disengaged from one of the bigger investments in the local energy industry. It didn’t matter that he worked hard to win controlling interest in the privatization of TransCo.
This crony isn’t even crying all the way to the bank… why should he? The grapevine says the investment in the National Grid was offloaded at an eye popping profit to the San Miguel Group, which previously lost the bidding for the Grid. When the crony offered to buy San Miguel out, San Miguel countered with a buy me out too. The crony asked how much and when he heard what San Miguel was ready to pay, called the bluff. That’s how this crony flipped a $40 million investment to earn him $800 million in less than two years.
If you’ve been paying just the slightest attention to Philippine business and politics, then the identity of this so-called crony should be clear by now.
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