Tagged as Escudero bagman, tech boss Maynard Ngu resigns from property agency

Ngu resigns from the board ‘attributable to private causes’

MANILA, Philippines – Maynard Ngu, head of Cosmic Applied sciences, maker of Cherry Cell phones, has resigned as an impartial director of actual property agency Altus Property Ventures Integrated, the corporate mentioned in a disclosure to the Philippine Inventory Alternate (PSE) on Tuesday, September 30.

“Please be told that the Board of Administrators of Altus Property Ventures, Inc. (APVI) has duly accepted the resignation of Mr. Maynard S. Ngu as impartial member of the Board of Administrators of APVI efficient September 29, 2025,” in accordance with the disclosure.

This comes days after Ngu was tagged because the alleged bagman for Senator Chiz Escudero in a multi-billion peso infrastructure rip-off. Ngu was named by former public works undersecretary Roberto Bernardo, who mentioned he and Ngu are pals “who go means again.”

Bernardo recounted an occasion by which he allegedly delivered a P160-million kickback to Ngu “meant for Senator Escudero.” It was tied to 4 infrastructure tasks in 2025. Rappler checked and located that not less than two of the tasks, price P600 million, had been bicameral insertions within the 2025 price range.

Ngu resigned as an impartial director of Altus “attributable to private causes.”

Altus Property Ventures’ majority house owners are JG Summit Holdings (60.97%), PCD Nominee Company-Filipino (32%) and Robinsons Land Company (6.11%). Ngu is a nominal shareholder, however sat on the board whose chairman is Robinsons’ Faraday Go.

Amongst Ngu’s companies are the Cork Wine Bar in Bonifacio International Metropolis, the place the preliminary dialog between Bernardo and Escudero allegedly occurred, and Cosmic Applied sciences, the place he’s president, CEO, and majority proprietor. Cosmic is a multimillion-peso authorities contractor.

Ngu donated P30 million to Escudero’s 2022 senatorial marketing campaign, in accordance with the senator’s Assertion of Contributions and Expenditures. The donation will not be but a part of the Fee on Elections’ investigation, Elections Chairman George Garcia mentioned in a message to Rappler on Tuesday.

“Hindi pa po (Not but),” Garcia mentioned when requested. The Comelec has already began the method for an additional contractor, Centerways head Lawrence Lubiano, who additionally donated P30 million to Escudero’s 2022 senatorial marketing campaign. The election code prohibits a authorities contractor from making a political or a partisan contribution.

Ngu additionally has not less than two companies with Escudero’s spouse, actress and trend influencer Coronary heart Evangelista – Pure Residing Wellness Worldwide which sells Evangelista’s skincare model Luxelle, and Harlan Fractional Property Integrated, which operates the Harlan non-public luxurious villa in Boracay. – Rappler.com