He has two firms listed at the Philippine Stock Exchange - Greenergy Holdings and AgriNurture.
Greenergy Holdings, owner of Sunchamp Real Estate Development, suffered the biggest loss.
Tiu bared that the hacienda in Rosario, Batangas is a property owned by Sunchamp, contrary to claims of senators who say Binay is the real owner.
October 7 marked the first time Tiu's name was mentioned in the Senate hearings over the alleged overpricing of Makati City Hall Building 2.
On that day, Greenergy was worth P1.981 billion. As of Thursday's close, the company's value is now P954 million.
In just a few weeks, over a billion pesos in value was lost.
AgriNurture, a supplier and exporter of fruits and vegetables, suffered a similar drop. It also runs retail operations, including juice company The Big Chill.
On October 7, AgriNurture was worth P1.616 billion, and now it is only worth P1.4 billion -- a loss of P192 million.
The movement of shares of AgriNurture and Greenergy at the PSE showed they slightly recovered after Tiu's denial of the allegations against him, through disclosures on October 9 and 10, and after his first testimony at the Senate on October 23.
But after that, it was all downhill.
In total, P1.219 billion in value has been lost.
This isn't a blow to Tiu alone. The shareholders of both companies are also affected, including US agribusiness giant Cargill, which owns a 30 percent stake in AgriNurture through Black River Capital.
Cargill's investment in AgriNurture, according to Tiu, is proof positive that he is a legitimate businessman, not a mere dummy to a politician.
But Senators Alan Peter Cayetano and Antonio Trillanes aren't buying it.
They say even Cargill could be an accessory to Binay's efforts to hide alleged ill-gotten wealth.
The controversy isn't lost on regulators. The Securities and Exchange Commission and Philippine Stock Exchange are now watching the Senate hearings closely to check for possible violations by Tiu.
source: www.abs-cbnnews.com
