Thursday, March 01, 2007 (Philippines)

‘Wa na tay utang kon mahinayon na,’ says Joel Mari Yu, head of the agency marketing South Road Properties (formerly known as South Reclamation Project).(Sun.star file photo) TOP executives of SM Prime Holdings Inc. yesterday submitted their financial proposal to the marketing arm of the South Road Properties (SRP) on their plan to take full control over the entire 295-hectare facility. Among other things, SM’s multi-billion-peso offer includes “taking over the full obligation of paying” for the balance of Cebu City Hall’s P6.3-billion loan with the Japan Bank for International Cooperation (JBIC), said Joel Mari Yu, managing director of the Cebu Investment Promotions Center (CIPC). Pinoy Votes: Sun.Star Election 2007 [full story]