The land lease contract between NPF and Landing International Development will be revised after the entire NPF board was fired.
Philippines.- Casino operator Landing International Development Ltd had agreed on a land lease contract with the Nayong Pilipino Foundation (NPF) to develop a casino in Manila but the deal is set to be reviewed. After firing the entire board of the government-run NPF, Philippine President Rodrigo Duterte ordered to look into the leasing contract.
“The President has instructed a review of the contract of lease entered by NPF with Landing Resorts Philippines Development Corp, which he described, in his own words, as ‘flawed’,” said presidential spokesman Harry Roque and added: “It was entered into without public bidding and was disadvantageous to the government.”
Mr Roque had said the lease contract that Landing signed with the foundation has put the government in a bad position as the rental payment was unconscionable, therefore Duterte’s administration is at a disadvantage. However, Landing International stated: “From the group’s viewpoint, the recent decision of the Philippine government to replace members of the NPF board of trustees did not affect the validity of the subject contract of lease.”
Furthermore, head of the NPF Patricia Ocampo denied any wrongdoing in the deal and asserted: “The lease contract with Landing International Development Ltd is above board, and is highly advantageous to the government and to the Filipino people.”