Business tycoon Ang urges Philippines to uphold claims in energy-rich South China Sea

Billionaire Ang spoke during a government economic forum attended by top economic managers including Finance Secretary Ralph Recto. - Bloomberg

MANILA (Bloomberg): The Philippines should not abandon its claims in the South China Sea given its vast energy potential, the head of the nation’s largest conglomerate by sales has announced in a statement.

"We have a very big reserve in the West Philippine Sea,” San Miguel Corp. President Ramon Ang said using Manila’s name for the waters that’s within its exclusive economic zone. "So let us not let go of it. We should protect our territory.”