It’s true that he was never known in the industry for his sharp business instincts, but lately he seems to be running into a series of financial misfortunes—from an expensive scam to burning through a low nine-figure investment in a political campaign that fizzled out on election day.
Then there are the major delays at his projects, despite unveiling a bold hospitality revamp and roadmap just a few years ago.
Interestingly, those announcements coincided with a massive land deal with a top tycoon, who now appears to be slowing down his southern property push while fortifying his businesses in Manila.
The question is what’s next for this businessman, and his many small investors who are simply waiting to recoup their losses. Their only hope is there are no more bad surprises around the corner.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
