FTI government-owned, not Ayala Land property
We wish to correct some inaccuracies in the article titled “Bidders sought for P4-B FTI transport hub project” (Business, 8/1/14).
The first paragraph mentioned that “the transportation department is seeking bidders for a P4-billion central public transport hub near the Ayala Group’s Food Terminal Inc. compound in southern Metro Manila, the auction’s invitation yesterday showed.” And the fourth paragraph stated that the “FTI complex is owned by Ayala Land Inc.”
We wish to clarify that the Food Terminal Inc. (FTI) remains a government-owned and -controlled corporation, and it has not been acquired by Ayala Land Inc. (ALI). About 74 hectares of its 120-hectare property was sold to ALI in October 2012. FTI still owns and operates a 24-hectare Special Economic Zone and the other properties within the complex. FTI is not part of ALI’s group of companies.
We hope this clarifies the matter.
—RYAN A. MARTINEZ,
vice president for corporate affairs,
Food Terminal Inc.
