BIZ BUZZ: Megaworld gets industry’s backing | Inquirer Business

BIZ BUZZ: Megaworld gets industry’s backing

/ 02:20 AM November 23, 2023

No sooner had word of the ugly spat between Megaworld Corp. and its former contractor Datem Inc. become public than other firms doing work for the property developer naturally rushed to its defense.

No less than Megawide Construction Corp. issued a statement in support of the firm founded by billionaire Andrew Tan and now led by his son, Kevin.

“Megawide has no commercial or collection issues with Megaworld,” said Megawide president and CEO Edgar Saavedra.


“These challenges are normal occurrences in the construction business, and were experienced across the board during the pandemic,” he added. “But as long as we maintain proper communication with all parties, clients and contractors can resolve these issues amicably.”


Another contractor, Universal Steel Smelting Co. Inc., issued a statement saying they had been working with Megaworld since the developer’s first project in the 1990s, and characterized the relationship as “a true and lasting partnership.”

Meanwhile, ASEC Development & Construction Corp. issued its own statement saying that through both firms’ many years of doing business together, both have “professionally embraced the heart of all contracts: respect and integrity.”

Finally, Antolin Oreta Jr. of A.M. Oreta & Co. said the contractor had worked with Megaworld for a quarter of a century now through several projects, all of which were completed because issues were addressed “professionally, with consideration and respect.”

Meanwhile, Megaworld’s lawyers have asked the court to lift the attachment that was issued on the firm’s bank accounts by Datem.

But don’t count on this conflict deescalating anytime soon. Abangan! —Daxim L. Lucas

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TAGS: Megaworld Corp.

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