Partylist solons urge govt takeover of Hanjin
Credit to Author: The Manila Times| Date: Tue, 15 Jan 2019 16:24:12 +0000
Reports that Korean-owned Hanjin Heavy Industries and Construction Philippines (HHIC-Phil) could be bought by a Chinese firm have alarmed opposition lawmakers, who called on the government on Tuesday to consider a takeover of the bankrupt Subic-based shipbuilder.
The Duterte administration, Akbayan Rep. Tom Villarin told reporters, should take “a serious look at taking over the operations of the company and make shipbuilding as a national industrial base for job creation and for moving forward our country’s economy.”
“We are in a strategic situation, being a maritime and archipelagic country and being the fourth largest shipbuilder in the world, even outpacing Europe. So we do have a justification that, indeed, shipbuilding can be a major national industry and the state can initiate that by intervening and taking over the operations of Hanjin…,” he added.
Magdalo Rep. Gary Alejano, meanwhile, said the country needed more ships to boost its defensive capabilities.
“We have a coastline of about 36,000 kilometers and we also need more vessels because illegal contraband like drugs, firearms and even smuggling activities can easily enter,” he said in Filipino.
Philippine Navy chief Alexander Pama has also warned that Chinese ownership of Hanjin would be a serious national security risk.
Malacañang, however, has downplayed the issue and said it was not an urgent concern for now.
Hanjin, which reportedly owes five of the Philippines’ largest bank around $412 million, on Monday secured court approval of its petition for corporate rehabilitation.
Olongapo City Regional Trial Court (RTC) Branch 72 presiding judge Richard Paradeza, told the firm to publish the order and serve copies to its creditors both foreign and domestic, regulators and other concerned agencies.
A February 8 hearing was set for claims against the insolvent firm.
Creditors, government agencies and all interested parties were told to file comments/opposition to Hanjin’s petition at least 15 days before the hearing.
Stefani Saño, a former member of the Subic Bay Metropolitan Authority board, was appointed as the rehabilitation receiver.
FROM REPORTS BY GLEEFER JALEA AND PATRICK ROXAS
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