BIZ BUZZ: The war in Wack Wack
No sooner had Biz Buzz published its item yesterday about the brewing controversy at the upscale Wack Wack Golf and Country Club than Senator JV Ejercito ignited a full scale firestorm by venting his issues against its current management on Twitter.
But more about that later.
Wack Wack sent Biz Buzz some points to consider regarding management’s decision to set up a barbed wire fence separating one residence and the golf course that became the subject of an earlier complaint by the homeowner.
According to one current board director, there have been several incidents of theft since 2019 in Greenhills West, with residents claiming that the prowlers were coming in from the golf course.
One Greenhills West resident, Maurice Laude, wrote the club complaining about these intruders and demanding immediate action.
Since this concerned the club’s property, it had the right to necessarily make improvements on it, and the board decided to increase the height of the perimeter wall to prevent would-be thieves from scaling it.
The club said it also wished to prevent accidents that could occur if playing members or their guests would send errant golf balls flying into their residential properties, either causing property damage or injury to people there.
The board stressed that the wall bordering the property has been in place from the time the club was established, meaning it has been in place for decades.
“It is within the club’s property as shown in the club’s titles, and in fact, is part of the annual realty tax payments that the club has been paying for decades already,” said a one-page summary sent by a Wack Wack board member to Biz Buzz.
“The Mandaluyong City government affirms that the wall is within the club’s property as evidenced by its annual assessment thereon,” it said. “Thus, the club’s wall is well within the club’s own property.”
It added that Laude’s wife, Gail, then protested the club’s response of raising the perimeter wall, “stating that the three-meter wall will block the air going to their house and is not aesthetically pleasing to their house.”
“Then the board decided to ask for a waiver stating that the club will not be held liable for any incident thereof,” it said. “No waiver has been submitted to the club.”
The board said that, to maintain “peaceful and amiable relations” among neighbors, members and guests, the club gave everyone the option to design and construct the improvement of the wall subject to the requirement that it is increased by three meters.
“At the very least, this would enable all parties to keep their properties safe from criminal elements and maintain the aesthetic of their home and continue to live peacefully as amicable neighbors,” it said.
“But after giving them options, neighbors did not do anything,” the board added. “Thus, the club planted Indian trees, but the neighbors cut it without the club’s consent and, while installing barbed wire, our contractors were intentionally sprayed with water to prevent them from finishing the work.”
Meanwhile, Senator Ejercito—a former president of Wack Wack—fired a salvo over social media yesterday directed at the “mafia” in the current board, some of whom are supposedly throwing their weight around like tough guys and behaving as if they owned the club.
Clearly, this isn’t over, folks. Abangan!
—Daxim L. Lucas
Online-only stockbroker
Business tycoons Tony Tan Caktiong and Edgar “Injap” Sia II are gunning for the No. 1 spot when they launch their game-changing “pure play online” stockbrokerage venture called DragonFi in April.
DragonFi Securities Inc. CEO Jon Lim told Biz Buzz they aspire to become “category leaders” in the space with the help of cutting-edge technologies serving both retail and institutional clients.
“We feel strongly about increasing participation in the PSE (Philippine Stock Exchange), as we see the development of the capital markets as prerequisites toward economic advancement,” he said in an email.
“In this regard, DragonFi can help catalyze interest and excitement by providing a powerful and modern platform which will help investors make more informed decisions,” he added.
While the exact features have yet to be revealed, Lim said they would use the same technology as the world’s largest brokerage firms, making their infrastructure on par with those operating in the most demanding markets.
“One of the most exciting features that we will be introducing is our first-to-market advanced order types that allow investors to simultaneously protect upside and downside risk,” Lim said.
It will also feature a modern “drag and drop modular interface” that would make the trading experience more personalized.
DragonFi’s array of trading tools can also be used across multiple monitors, he said.
“We believe in giving our clients informed access. In this light, we will be providing exclusive digital content as well as financial analytics that will not only educate but may also help generate investment ideas,” he said.
—Miguel R. Camus
GCash goes to the US
Popular e-wallet GCash is making its services available in the United States by allowing Filipinos to sign up for the app using American mobile numbers.
“Now that we have activated GCash outside of the Philippines, we are now working toward making it available in more countries. This time, we are adding the US to our list to be able to service over four million of our kababayans residing there,” GCash president and CEO Martha Sazon said.
Prior to this, GCash launched its overseas services in Japan, Australia and Italy.
This enables GCash users from outside the country to send money to their recipients in the Philippines for free. Other services include bills payment and purchase of load credits.
“With around 10 million Filipinos living abroad, we want them to also be able to take advantage of GCash services even as they use international SIMs,” Sazon said earlier.
—Tyrone Jasper C. Piad INQ
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BIZ BUZZ: Trouble at Wack Wack?
