MANILA, Philippines - Amid controversy it gave out huge discounts to impeached Chief Justice Renato Corona, publicly listed Megaworld Corp. reiterated on Tuesday that it adheres to good governance standards and does not give or accept favors from government officials.

Megaworld sold the penthouse unit of its development The Bellagio in Taguig City to the Corona couple for P10 million less its original price in 2000.

In a statement, the Andrew Tan-led property firm dubbed as "baseless and malicious" allegations that it sold the unit at a steep discount in consideration for favorable decisions in cases involving it before the Supreme Court.

"For the record, we wish to state that in all our business dealings with Chief Justice Corona, the company has neither solicited nor obtained any favor either from the Chief Justice or from the court," Megaworld said.

"As a company, we shall continue to uphold the highest standard of ethical business practices," it added.

The House prosecution is trying to prove before the Senate impeachment court that Corona violated the Anti-Graft and Corrupt Practices Act, among others.

Section 3 of this law concerning bribes specifically states that the person "giving the gift, present, share, percentage... shall, together with the offending public officer, be punished and shall be permanently or temporarily disqualified in the discretion of the court from transacting business in any form with the government."

Discounts

At Corona's impeachment trial on Tuesday, Megaworld senior vice-president for marketing and sales Noli Hernandez disclosed that they initially gave the Coronas a P5 million price reduction for the P24-million penthouse because the unit had already "sustained damages" from a typhoon.

Later on, Hernandez said the company reduced the unit's price by P5 million more as a treat to the spouses because they were prompt payers.

He said the discounts were "voluntarily" given by the company. He added he did not even know it was the Coronas who were buying the unit.

Cases

Megaworld, meanwhile, said that cases involving the company before the SC did not have anything to do with its transaction with the Coronas.

It said one case it won was decided on by the court four years before the purchase of The Bellagio unit, while it lost and was asked to pay a total of P47 million in two other cases.

In Megaworld Globus Asia Inc. versus Celerica Holdings Inc. in 2007, the SC First Division ordered Megaworld to pay a total of P26 million in the form of cash and a condominium unit to the respondent.

In another case Megaworld Globus versus Tanseco in 2009, the SC Second Division ordered Megaworld to pay a buyer a total of P21 million after it failed to complete and deliver a unit in time.

"The cases speak for themselves. The records of decided cases involving our company are open to scrutiny since the same form part of public documents," Megaworld said.

"In all these cases, we have followed all judicial processes, availed of all legal remedies and abided by all the final decisions of the court," it added.