SM denies it owns Silverio Compound


03:19 PM April 24th, 2012

By: Jamie Marie Elona, April 24th, 2012 03:19 PM

MANILA, Philippines -In response to reports tagging mall chain SM to the demolition at Silverio Compound in Paranaque City Monday, SM Development Corp. (SMDC) issued a statement Tuesday denying ownership of the disputed property.

SMDC said that it does not own the Silverio Compound, and is not “in any way, involved in the demolition of existing structures in the Silverio Compound,” as well as in the dispersal of the protestors.

“In fact, SMDC was only made aware of what is happening in the Silverio Compound through the news that it received through the various media,” the statement read.

Various militant groups earlier said that the demolition of properties at the Silverio Compound would pave the way for the construction of Henry Sy’s new condominium under SMDC. He also said that the Aquino administration only serves the interest of ruling elites such as Sy.

A 20-year-old resident, identified as Arnel Leonor, was killed and several others, including policemen, were injured after chunks of rocks and molotovs were hurled by angry protestors, prompting members of the Special Weapons and Tactics to open fire.

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