GLOBAL Ferronickel Holdings, Inc. (FNI) on Monday strongly denounced the “unlawful” arrest and detention of its Chairman, Joseph Sy, over a “baseless” accusation of misrepresenting his citizenship.
The nickel company asserted Mr. Sy’s citizenship has been confirmed by at least six rulings from the Bureau of Immigration (BI), the Department of Justice, the Office of the President, the Securities and Exchange Commission (SEC), and the Supreme Court.
“He entered the country on his valid Philippine passport, which the Supreme Court has recognized as official proof of identity of Filipino nationality,” FNI said in a statement.
“His detention is a grave injustice, but we remain confident that the truth and the law will prevail.”
The company noted that its operations and all companies under the Group remain “stable, legitimate, and unaffected.”
The Philippine Nickel Industry Association (PNIA) on Monday also called for the release of FNI’s chairman, saying BI’s detention is “deeply troubling and illegally inconsistent” considering it has twice recognized Mr. Sy’s citizenship.
“His continued detention on mere suspicion of being an alien, without lawful basis and outside the BI’s jurisdiction, is a grave injustice and a violation of the fundamental principles of due process,” it added.
PNIA noted the arrest and subsequent detention of Mr. Sy sends a “wrong message” to investors as the Philippines seeks to bolster business confidence.
“We call on the authorities to act swiftly, observe due process, and immediately resolve this matter by releasing Mr. Sy without delay,” it said.
Developments over Mr. Sy’s detention are being closely monitored by the SEC, which said it will evaluate whether necessary actions are warranted under its jurisdiction.
“Any action taken by the SEC on the matter will be in line with promoting transparency and confidence in the markets, especially matters that affect the governance of publicly listed companies,” the corporate watchdog said in a statement sent to BusinessWorld on Monday.
Amid the detention, the SEC reminded listed companies that all material developments that could influence the decision of investors must be “promptly disclosed” to the public as mandated under Rule 17.1.1 of the implementing rules and regulations of the Securities Regulation Code, as well as the consolidated listing and disclosure rules of the Philippine Stock Exchange.
“The commission reiterates its commitment to upholding the interests of the investing public and ensuring that the integrity of the capital market is preserved,” it said.
Sought for comment, the BI noted in a Viber message to BusinessWorld that Mr. Sy is the subject of a mission order and an investigation from the BI, which received information from government intelligence sources about his “alleged illegally acquired Philippine documents.”
The BI said he was found to be using a Philippine passport issued in 2021 and was in possession of several Philippine identity cards showing that he is a Filipino.
“However, Viado shared that their Alien Registration Division was able to confirm that his fingerprints matched that of a Chinese citizen, who previously held a long-term visa and an Alien Certificate Registration Identity Card,” it added.
The BI said Mr. Sy is “said to own many major businesses in the country” and has “infiltrated different economic and business groups.”
“Without naturalization, a foreign national is not eligible to get Philippine citizenship documents,” BI Commissioner Joel Anthony Viado said.
“Government intelligence sources have reason to believe that this is another case of assumed Philippine identity, similar to that of Alice Guo,” he added.
Meanwhile, Senator Risa N. Hontiveros-Baraquel raised concerns over Mr. Sy’s detention after she learned that he had served as a volunteer with the Philippine Coast Guard (PCG), citing it could be a national security risk.
The PCG did not immediately reply to a Viber message seeking comment.
“The Senate must immediately probe his affiliations, background and the circumstances under which he obtained his Philippine documents,” Ms. Hontiveros said in a statement.
The BI said Mr. Sy, who is facing a deportation case for misrepresentation, is currently held at the BI’s holding facility in Bicutan, Taguig.
BI operatives arrested Mr. Sy on Aug. 21 after arriving from Hong Kong. He was detained due to an alleged misrepresentation of his citizenship.
FNI is a listed mining company that has business interests in nickel ore mining, logistics, cement and steel production, and port operations. — Kenneth Christiane L. Basilio, Revin Mikhael D. Ochave, and Kyle Aristophere T. Atienza
