By Charlie V. Manalo
02/09/2009 [ tribune.net.ph ]
Officials and employees of the Philippine State College of Aeronautics (PhilSCA) are raising a howl of protest over an alleged collaboration of the Bases Conversion Development Authority (BCDA) and Megaworld for which have both assessed a meager valuation of the school’s 17,454-square meter property which the giant property developer plans to turn into a mix commercial-residential complex.
According to a PhilSCA official who requested anonymity, the school property which was originally worth P5,500 per sq.m. should now be worth at least P34,000 per sq.m. to P42,000 per sq.m. or from P893 million to P1.1 billion as the zonal value of properties within the are rising from 600 to 700 percent over the last 10 years.
PhilSCA is one of the government properties within the vicinity of Villamor Airbase which the government, through the BCDA, seeks to privatize. The school lies along Manlunas Street at the northeast end and along Andrews Avenue on the southwest end of Villamor Airbase and has a gross area of 17,454 square meters.
On Sept. 7, 1999, the BCDA, a government-owned and controlled corporation pursuant to RA 7227, entered into a contract to sell with PhilSCA for a total purchase price of P95,997,000 at a price of P5,500 per sq.m.
The Deed of Absolute Sale was eventually signed by BCDA president Rogelio Singson and then PhilSCA president Henrietta Sumalbag on June 8, 2001.
While Sumalbag acquired the property at that time for only less than a hundred million pesos, she said the zonal value of the school then was pegged at P5,500 per sq.m.
Currently, based on a research on the Bureau of Internal Revenue (BIR) zonal values for condominium and hotels along Roxas Boulevard in Pasay City, the zonal value ranges from P34,000 per sq.m. to P42,000 per sq.m., citing the massive improvements and construction activities in the adjacent areas where the Marriot and other hotels and condominiums at the New Port City as primary reason for the rise in the zonal value.
With the opening of the NAIA Terminal 3, the area will transform into a modern residential and commercial area which will further catapult the zonal value of the property to unprecedented heights.
But as the property is now being privatized, one of the interested parties, Megaworld, has given a questionable appraisal for the school property at a very measly P560,490,524 which is way below the true current value of PhilSCA.
Present college president Dr. Enerico Sampang expressed disappointment over the very low assessment given to its property by Megaworld, saying the school needs all the funding and resources for it to achieve its goal to be the center for learning excellence in aeronautical education, a regional center in the field of aviation that is ever sensitive to the needs of the industry and its shareholders.
PhilSCA had been recognized by the Professional Regulation Commission in 2007 and 2008 as the best performing Aviation School in the country for being a consistent topnotcher in Aeronautical Engineering Board Examinations.
Sampang said these are only some of the challenges and at the same time the inspiration to pursue a modern PhilSCA, equipped with advanced training equipment, such as new aircraft, computer-based training facilities and a state-of-the-art flight simulator.
“These innovations would catapult the school on producing fine Filipino pilots that are globally competitive. In addition, the country’s economy relies heavily on OFW’s remittances while Philsca will ensure the exportation of highly skilled and labor,” Sampang said.
The PhilSCA president added to achieve these goals, it needs and entails a lot of resources. “Unlike the VABES (Villamor Airbase Elementary School) and the PCHS (Pasay City High School) lots, they were not bought by the city government on the premise that they will be relocated and the facilities be replicated.”
As to the case of PhilSCA, it was a completely different story. The lot was purchased from BCDA by PhilSCA while both are government entities.
“Government subsidies and donations from various sectors may not suffice to the fulfillment of this dream if the BCDA and Megaworld would value the school property on measly sum they want and should not be working only for their profit and interest,” said a PhilSCA insider.
Presently, there is a proposal to relocate PhilSCA to the Villamor Golf Course (VGC) area.
Under the proposal, PhilSCA would be relocated to VGC with Megaworld taking over the school’s former property. But rather odd is that Philsca would not be entitled to a single centavo as BCDA and Megaworld are claiming they would replicate the schools property at VGC.
But with PhilSCA property’s high zonal value, Megaworld tends to amass hundreds of millions of pesos in profit.
“The land swapping was inevitable, but PhilSCA’s replication was not included in any agreement or any board resolution. BCDA and Megaworld should put more premiums on the land swapping agreement. These two corporations are keen to get huge or massive profits on the sale and operation of the area, but are tone deaf for PhilSCA’s requirements in providing higher quality of education,” he added.
“We want a new PhilSCA and not a reproduced PhilSCA as what Megaworld and BCDA want. Our president Dr. Sampang envisions it as the center for civilian pilot, drawing the ambitious, daring and enterprising Filipino youth and the Asean region, equipping them to be part of the dynamically growing airline industry,” he said.
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