BIZ BUZZ: Where’s the money? Roxas Group asked

BIZ BUZZ: Where’s the money? Roxas Group asked

/ 02:28 AM June 12, 2024

It seems that Roxas and Company Inc.’s (RCI) plan to develop its three haciendas in Batangas will have to wait.

This as the local government of Nasugbu said that they have yet to receive any payment for its planned real estate development.

“They haven’t paid anyone,” Nasugbu Vice Mayor Mildred Sanchez claimed. “As far as I know, none of us have received any payment from them.”


And to make things more interesting, the local official dropped a bomb—that the listed holding company is supposedly behind on its property tax payments.


“We have already contacted our treasury office and found out that they are tax delinquent. We have requested the treasury office to prepare the necessary documents,” she said.

Nasugbu’s treasury office will soon release its report on the firm’s tax payments, she added.

The dispute erupted after the Department of Agrarian Reform (DAR) ordered a 50-50 sharing of the covered land properties between RCI and agrarian reform beneficiaries.

Farmers and other individuals then trooped to Makati’s Freedom Park last week to protest the DAR order, seeking a more equitable land distribution and additional compensation for those who will be displaced by the developments.

They protest RCI’s plans to evict some 50,000 individuals from Haciendas Palico, Banilad and Kaylaway covering up to 2,941 hectares in nine barangays.

Despite their pleas, RCI later clarified to the local bourse that while it has a duty to ensure that affected individuals are vacated peacefully, the company has “no other financial obligations to the latter.”


“To date, there are no actions planned on the properties and affected parties until our company receives further instructions from the [DAR],” it said.

Our dear readers may want to grab some drinks and popcorn while we wait for the resolution of the land dispute between the Roxas Group and farmer-residents in Batangas.

As we always say here, abangan! —Jordeene Lagare

Mober moving to greener pastures

Green logistics service provider Mober is on its way towards expanding its electric vehicle (EV) fleet to 238 units and establishing an additional 3,000-square-meter (sqm) charging facility after securing P350-million equity infusion from Singapore-based fund manager Clime Capital.

“Having Clime Capital as an investor adds significant credibility to Mober and solidifies our commitment to sustainability. This partnership not only enhances our reputation but also accelerates our progress toward achieving our ambitious sustainability goals,” Mober CEO Dennis Ng said.

Clime Capital chief operating officer Mason Wallick said “Mober’s ambition to provide fully electric B2B (business-to-business) delivery services is a compelling example of a first-mover business that can accelerate the low carbon transition through our strategic investment.”

Currently, Mober has 60 EVs, including e-trucks and e-vans. Its flagship 800-sqm charging facility is in Pasay City.

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