Tadeco debunks ‘coercion’ claim of House leadership

Alex Valoria, president and chief executive officer of Tagum Agricultural Development Company, Inc. (Tadeco) has taken exception to claims that the company has been suggesting that the House leadership has coerced three government agencies which declared illegal the joint venture agreement (JVA) between Tadeco and the Bureau of Corrections (BuCor).

The three offices referred to are the Commission on Audit, the Department of Justice and the Office of the Solicitor General.

‘While we maintain the deal with BuCor is a Joint Venture Agreement (JVA) and the contract legally negotiated, we take care not to muddle the issues as we only want to present arguments that are accurate, rational, and valid,” Valoria said.

Reacting to the comment of Speaker Pantaleon Alvarez that Tadeco is the only one claiming that the JVA is above board, the company executive retorted, saying “we base our arguments on the approvals of the government authorities at the time the JVA was executed and the applicable laws and jurisprudence of the Philippines.   This is a consensual arrangement which has stood the test of time.  We involve ourselves only in honest business dealings, not in bogus claims.”

Moreover, he clarified, it is not the mission of our organization that is recognized for its best practices to muddle in propaganda issues as “it is contrary to our corporate values to malign and mislead, or argue issues without legal basis.”