MANILA, Philippines — Trade and Industry Secretary Ma. Cristina A. Roque is reportedly seeking access to the exclusive Manila Golf and Country Club through a corporate share held by the government’s National Development Company (NDC), a move that is now drawing attention among club members.
According to an InsiderPH report published September 2, 2026, an internal notice at Manila Golf identified Roque as the NDC nominee who would use the government corporation’s corporate access to the prestigious Makati club.
The report said some Manila Golf members are considering raising concerns over the arrangement, citing the unusual nature of a sitting Cabinet secretary becoming a member through a government-owned corporate share.
Why the government share matters
The issue has gained added significance because the Manila Golf investment is not merely a private corporate holding.
NDC is a government-owned and controlled corporation under the Department of Trade and Industry and describes itself as the government’s investment arm. Its official website lists Roque as chairman of the corporation.
More importantly, NDC’s 2024 audited annual report confirms that it holds an investment in the Manila Golf and Country Club valued at ₱120 million at the end of 2024. The same investment portfolio also included holdings in Makati Sports Club and the Philippine Columbian Association.
That means the controversy is not simply about a Cabinet official seeking access to an elite private club. It also raises a broader question about how a government corporation’s recreational-club investments are used and who may benefit from the associated corporate privileges.
Manila Golf shares are worth a fortune
The price attached to Manila Golf membership helps explain why the reported arrangement is attracting attention.
InsiderPH previously reported that a Manila Golf share changed hands for ₱200 million in 2024, setting a record at the time.
In a follow-up report in July 2025, InsiderPH cited Leechiu Property Consultants data showing Manila Golf share prices reaching approximately ₱195 million in the first quarter of 2025, before easing to about ₱193 million in the second quarter. The report said prices had risen dramatically compared with pre-pandemic levels.
Business Inquirer had also reported in January 2024 that a Manila Golf share was valued at around ₱200 million, underscoring the extraordinary financial value attached to membership at the club.
A corporate nominee is not the same as buying a personal share
The distinction is important.
The current report does not say that Roque personally purchased a Manila Golf share worth hundreds of millions of pesos.
Instead, InsiderPH says she was listed as the NDC nominee who would use the government corporation’s existing corporate access.
The report also cited a club-share broker’s guide listing a ₱1-million fee for changing a corporate assignee.
Whether the arrangement ultimately results in membership depends on the club’s own rules and approval process. InsiderPH reported that some members were considering exercising their rights to object.
The bigger issue: public assets, private privileges
The development is likely to attract scrutiny because NDC’s investment in Manila Golf has previously been questioned in the context of the government’s management of corporate assets.
InsiderPH reported that the Commission on Audit had previously questioned NDC’s ownership of shares in private clubs, although NDC subsequently justified maintaining those investments.
NDC’s own current disclosures confirm that the Manila Golf investment remains on its books, with a reported ₱120 million carrying value in 2024.
That puts the spotlight on a question larger than golf:
If a government corporation owns an expensive private-club share, who should be entitled to use the membership—and under what rules?
For now, the reported nomination is the focus of attention. But the more consequential issue could be whether the arrangement survives the club’s membership process and whether NDC, DTI or the club provides a formal explanation.
As of publication, the available public sources reviewed for this report do not establish that Roque has already been admitted as a Manila Golf member, nor do they show a formal club decision rejecting her nomination.
The story, therefore, remains one to watch—not because a Cabinet official wants to play golf, but because a government-owned asset worth millions is at the center of the question.
WWC ONE MEDIA MJE
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