FACT-CHECK: National Grid Corp. of the Philippines not sold by ex-president Duterte to China

CLAIM: National Grid Corp. of the Philippines was sold by former president Rodrigo Duterte to China.

RATING: FALSE

A TikTok user falsely claimed that the National Grid Corp. of the Philippines (NGCP) was sold to China by former president Rodrigo Duterte.

NGCP did not issue any statement that it had been sold by Duterte to China or that it had been acquired by China.

NGCP is 60% owned by Filipino companies, while the remaining 40% is owned by the State Grid Corp. of China (SGCC).

In fact, state-owned Maharlika Investment Corp. (MIC) recently acquired 20% ownership of NGCP from Synergy Grid and Development Philippines Inc. (SGP), which had 60% of voting rights and 40.2% effective ownership from a share-swap transaction.

The government gave a 50-year concession agreement to the NGCP on Dec. 1, 2008.

As of writing, the post has gained 42,600 views on TikTok. Vergel Villarba

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