Corona got no discount
Megaworld Corp. lowered price of rain-damaged unit – witness
THERE was no big discount after all. An officer of property developer Megaworld Corp. on Tuesday clarified that the company did not grant a 40-percent discount to Chief Justice Renato Corona when he purchased a penthouse unit at The Bellagio Tower I in Taguig City (Metro Manila) in 2009.
Noli Hernandez, senior vice president for marketing and sales of Megaworld Corp., made it clear that it was the company that decided to reduce the price of the condominium unit, which was originally priced at P24 million.
Hernandez was presented as witness of the prosecution panel.
According to him, the 330.5-square meter unit was damaged by a typhoon that hit Metro Manila in 2008.
Instead of having it repaired, Megaworld lowered the price to P19.6 million.
Hernandez explained that the company normally gives 15-percent discount to buyers who can pay on a shorter term and even a higher discount to clients who pay in cash.
In the case of Corona, a 15-percent discount would have meant a P3-million reduction in the price of the property.
This is the reason why the unit price of The Bellagio condominium was reduced to P14.5 million from its original price of P24 million, Hernandez pointed out.
When asked by private prosecutor Joseph Perez if it is a common practice of Megaworld to sell damaged units and give huge price reduction, he said that it is not common at all.
According to Hernandez, the company would not have reduced the price by P5 million if the unit had not sustained damage
lead spokesman for the House prosecution panel.
According to the defense team, Tupas and Belmonte will testify on their statements regarding the circumstances and events that transpired on December 12, 2011, which led to the impeachment of Corona.
Remulla, Mandanas and Tiangco will testify on their personal knowledge and statements regarding the impeachment of the chief magistrate.
Quimbo will testify on the list of 45 pieces of alleged Corona property that was submitted to the prosecution by the Land Registration Authority.
House Secretary General Marilyn Barua-yap will also be called to testify on her personal knowledge and statements regarding verification of the impeachment complaint against Corona.
Lawyer Tranquil Salvador 3rd, a spokesmen for the defense team, said that the number of lawmakers to be presented might increase, adding “that would depend on the necessity in proving our defense.”
A journalist from the Philippine Center for Investigative Journalism will also be presented to testify on the contents on the center’s presentation entitled “Who Should Cast the First Stone?” that was aired by ABS-CBN News Network on its website on January 11, 2012.
Constitutional law expert Fr. Joaquin Bernas will also be presented to the court by the defense panel.
The defense will also be presenting the High Court’s Clerk of Court Enriqueta Vidal, Gerlie Salarda, secretary of the House of Representatives Electoral Tribunal; Irene Guevarra, Secretary of the Senate Electoral Tribunal; and some employees of the Supreme Court.
Assessors of the cities of Taguig, Makati, Quezon and Marikina will also be called to testify on the alleged pieces of property of Corona in these cities.