Pasig City construction contractor clarifies P68-million debt

MANILA, Philippines — A construction firm, accused of allegedly failing to pay P68 million in debt to a construction materials supplier, yesterday said the issue is under litigation at the Pasig regional trial court (RTC).

Reynaldo de Jesus, owner of Finmat International Resources Inc. in Pasig City, said his firm has paid Golden Mile Enterprises P130 million and the balance of P68 million GME is demanding should first undergo reconciliation and validation by the two parties.

“Not all claims are valid. It is therefore premature and unfair to have it published through media without hearing the side of Finmat,” De Jesus said as he threatened to file charges.

He admitted that Finmat is facing a damage suit before the Pasig RTC but the court would rule on the case depending on the evidence presented by both parties.

GME earlier accused Finmat of breaking its promise to pay the P68 million upon completion of a project at a high-end hotel. De Jesus said the allegation placed his company in a bad light.