“Nag-divest ako diyan 100%.”
Philippine Amusement and Gaming Corporation (PAGCOR) Chairman Alejandro Tengco clarified that he has no ties to Nationstar Development Corporation, having fully divested from the construction company in 2022 prior to assuming his government post.
Tengco said the divestment was done to avoid any potential conflicts of interest, even though his current role in PAGCOR does not directly involve public works.
“Kasi ang payo ng aking mga abogado noon ay meron kasing mga hanapbuhay sa gobyerno ang Nation Star Development Corporation. Kaya may minarapat na lang, hindi naman po required, para wala na lang pong issue, nag-fully divest po ako,” he explained.
He also denied influencing government contracts, including reports that Nationstar secured over ₱7 billion in Department of Public Works and Highways (DPWH) projects in three years.
Tengco clarified that many of these projects were handled through a consortium of companies, with Nationstar holding only a 30-percent stake.
“Maliwanag po na hindi ko kailanman inimpluwensyahan ang DPWH or anuman ahensya ng gobyerno. tungkol sa mga kontrata ng DPWH. Bukod po kasi sa DPWH, may mga kontrata ito sa pribadong sektor at marami pong mga LGU din ang nagkaroon ng kontrata ng Nationstar,” he said.
In 2015, Tengco claimed ownership of Nationstar, which is now managed by professional civil engineers and operates independently from Tengco’s family.
Tengco stressed that the company has not handled flood control projects and has a strong record in both government and private sector work.
Addressing media reports linking his personal relationships with President Ferdinand “Bongbong” Marcos Jr. and First Lady Liza Marcos to Nationstar’s projects, Tengco said the company’s track record demonstrates it pursued projects independently before the President assumed office.
“I think yung track record lang ng kumpanya ay makakapagpatunay na wala pa po ang Pangulong Bongbong Marcos ay naghahanapbuhay na po sa gobyerno at sa DPWH ang Nationstar,” the PAGCOR chief said.
Tengco further emphasized that the divestment ensures transparency and prevents any conflict of interest between his private business past and his role in government.
