The company said it is not seeking other investors but it has been receiving investment offers.
Won Suk Bang, Flame Sako’s strategic planning manager, said they are tired of hearing people spreading wrong information about what the company has been going through.
Won said there is nothing irregular going on in their effort to invest in the CNMI which, he added, will enhance further the island’s tourism industry.
Saying that they are investing in good faith, Won added that Flame Sako is also complying with the time frame as required by the lease agreement granted by the Legislature.
Taotao Tano’s Greg Cruz is accusing Flame Sako president Dae Sik Kang and Department of Public Lands Secretary John Del Rosario of “deceiving” the people, which the DPL official denied.
Cruz wants the government to put the land lease on hold due to the company’s supposed failure to submit financial report on time.
Showing their cash flow report to this reporter, Won assured Flame Sako is in good shape financially, and that they have until August to commence with the project.
He said they never sought the involvement of investors from Malaysia or anywhere else.
The company, he said, has become popular among tourist-oriented investors in Asia and this is why their proposed project on Saipan has caught the attention of bigwigs in the industry.
Won said one of the financial institutions on Saipan tipped off a Malaysian investor about the resort project in Paupau.
The offer, he said, is “huge” but Flame Sako has not decided if it will accept any offer.
The company, Won said, can move ahead with the project by itself.
They’re still working on their master plan, he added.
He assured that everything will be accomplished as planned before the end of this month.
He said they are ready to award a $1.5 million contract to the qualified contractor.
Press Secretary Charles P. Reyes Jr., in his letter to Cruz, said the administration is willing to give Flame Sako a reasonable opportunity to deliver on its commitment.
“We will revoke (the lease agreement) if they don’t,” he said.
