PRESS STATEMENT

November 23, 2020

Media Inquiries
Anna Karenina Salgado
09175637629 | asalgado@megawide.com.ph
 

Focus on building a First-World NAIA, not spreading misinformation

Irresponsible journalism twists the message of NEDA ICC letter and misleads the public;
Megawide wonders about parties with vested interests

A website has claimed today that the unsolicited proposal to rehabilitate and transform Manila’s
Ninoy Aquino International Airport (NAIA) from publicly listed Megawide Construction Corporation
(“Megawide” or the “Company”) was “junked” by the National Economic Development Authority
(NEDA).

This is false.

Megawide advises the investing public and public-at-large that the letter of Secretaries Dominguez
and Chua, as chair and co-chair of the NEDA ICC, dated 19 November 2020, merely asked for the full
submission of the requirements from the MEGAWIDE GMR consortium to demonstrate capabilities to
deliver a first-world NAIA. The letter states:

“May we request DOTr to kindly ensure that all the requisite requirements…are complied with
by the private proponent in form and substance, and evaluated by the DOTr in accordance with
Rule 5 and Sections 10.5, 10.7 and 10.8 of the Amended BOT Law and its IRR, prior to the
endorsement or resubmission of the unsolicited proposal for NEDA/ICC Board action.”

Megawide complied with these requirements on 20 November 2020, submitting to the Manila
International Airport Authority (MIAA) additional documentary proof of the capability of the
Megawide-led consortium to sustain the financing requirements of the project.

Under the new arrangement, Megawide will have majority stake at 60% while GMR has agreed to
provide 40% of the equity requirement for the project. GMR brings to the table sufficient financial
bandwidth and unparalleled global airport operations experience.

To date, Megawide has not yet received any official communication from the government.

Megawide cautions anyone from quoting this website. Under Republic Act 10175 – otherwise known
as the Cybercrime law – libel committed online is the same offense under Article 355 of the Revised
Penal Code of the Philippines. Persons found to be propagating libel at the expense of Filipino jobs
and livelihoods should expect to be fully prosecuted under our laws.

Misinformation such as this may cause further unnecessary delays and complications that affect the
timely delivery of much-needed infrastructure projects, especially at a time when our country needs
it the most. Now is the time for bayanihan to uplift one another, not pull each other down.
With the Company’s financial capability and tried and tested airport experience, Megawide’s proposal
to rehabilitate and transform the NAIA complex remains valid and the company looks forward to
partnering with the national government, NAIA stakeholders and civil society in a spirit of bayanihan
to deliver an economic win for the Filipino people.

END