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The BCDA defended the terms of a joint venture agreement with Malaysia’s MTD Capital Berhad to build the government complex at New Clark City.

NOW: @TheBCDAGroup , Office of the Government Corporate Counsel officials hold presser to discuss details of the joint venture agreement witth MTD Capital Berhad on New Clark City Phase 1A. | via @jvdcabuenas 

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@RalfRivas  Dizon: The sports facilities were not part of the original proposal of MTD Capital Berhad for Phase 1. It was BCDA who required that it be part of phase 1 for the SEA Games 2019. | via @RalfRivas 

Happening now: BCDA briefing on JV with MTD Capital Berhad for the New Clark City Athletics Stadium, Aquatic Center, and the National Government Administrative Center or NGAC. | via @wddeguzman 

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Rivas states that BCDA and MTD Capital Berhad will have a 50-50 sharing scheme from the income of the sports facilities in New Clark City for 25 years. CONTEXT:

RAPPLER EXCLUSIVE. Aside from a maximum P2.5-billion return of investment, Malaysian firm MTD Capital Berhad is also entitled to 50% of the income from the sports facilities of New Clark City for 25 years. #SeaGames2019 

THREAD: The New Clark City sports facilities seem to be ready for #SEAGames2019 . However, Rappler reporters @liannami  and @RalfRivas  found red flags in the BCDA-MTD Capital Berhad contract. | via @RalfRivas 

@liannami  @RalfRivasThe  BCDA entered into a joint venture agreement with Malaysian firm MTD Capital Berhad to build New Clark City. We found that the deal circumvented several rules. | via @RalfRivas  FULL STORY:

The BCDA responds to Rappler's story on its joint venture with MTD Capital Berhad in broad strokes. #SEAGames2019 

The BCDA responds to Rappler's story on its joint venture with MTD Capital Berhad in broad strokes. #SEAGames2019 

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The BCDA responds to Rappler's story on its joint venture with MTD Capital Berhad in broad strokes. #SEAGames2019 

RAPPLER EXCLUSIVE. Aside from a maximum P2.5-billion return of investment, Malaysian firm MTD Capital Berhad is also entitled to 50% of the income from the sports facilities of New Clark City for 25 years.

RAPPLER EXCLUSIVE. Aside from a maximum P2.5-billion return of investment, Malaysian firm MTD Capital Berhad is also entitled to 50% of the income from the sports facilities of New Clark City for 25 years.

The Philippine government’s corporate counsels found questionable the P11-billion deal that the BCDA entered into with Malaysian firm MTD Capital Berhad to build the New Clark City’s sports facilities to be used for the 30th SEA Games. More details here:

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#IEWorld | Cradle Fund Sendirian Berhad, is a government-owned venture capital firm that provides seed money to tech startups. Its CEO, Nazrin Hassan, was found dead in his bedroom last June with burn marks on his body.

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