SUBIC BAY FREEPORT - The Subic Bay Metropolitan Authority (SBMA) has conferred its first SBMA Mabuhay Business Awards to 15 business locators here who have strengthened the local economy and contributed significantly to the growth of the country’s gross domestic product.
Organized by the Office of the Chairman and Administrator and the SBMA Business Group, the Mabuhay Business Awards were given to the top 15 locators whose combined investments have reached a total of US$3 billion and together have employed over 40,000 workers.
“These locators have breathed life into the local economy,” said SBMA Chairman Roberto Garcia. “They have transformed vacant parcels of land into busy commercial establishments and factories; a target range into a leading shipbuilding facility in the world; and a marsh land into a hi-tech manufacturing facility producing high value electronic components used by global brands.”
“The awards we’re giving them are just a small measure of our appreciation in helping build the Subic Bay Freeport into what it is now,” Garcia added.
According to SBMA Deputy Administrator for Business Ronnie Yambao, the 15 investor-awardees were chosen from the 1,536 Freeport-registered companies based on their actual investments, jobs generated, and multiplier effect caused by the locators’ business operations.
For the general business sector, the awardees were: Honeywell Ceasa (Subic Bay) Co., Inc., a P435-million firm providing repair and overhaul of aircraft wheels, brakes and other aircraft equipment; Petron Freeport Corp., a wholly-owned subsidiary of Petron Corp., with P422-million investment in Subic; and Anglo Asia Commodities Corp., a P350-million investment engaged in export/import, warehousing, and transshipment of general cargoes and merchandise.
For the information and communication technology sector, the awardees were: PLDT Subic Telecom Inc., a P550-million project that provides telecommunications services in the Freeport; S-Corp Philippines, Inc., a P166-million company with 1,800 workers in the field of technology services; and Moon Kkang Talk, Inc., a P97-million investment with 173 workers that provides online direct response marketing, live order taking services, on-line learning center, among others.
For the leisure sector, those cited were: Subic Bay Town Center, Inc., with investment of P1.6-billion for the operation of the Harbor Point Mall; Royal Duty Shops Inc., also a P1.6-billion investment that engages in retail business; and Fertuna Holdings Corp, a wholly-owned subsidiary of Cosco Capital Inc., with P250 million committed investment in the field of retail, real estate, liquor distribution and other specialty business.
For the logistics sector: Philippine Coastal Storage and Pipeline Corp., with P3.4-billion worth of investment in fuel terminal and storage tank farm that can hold 4.6 million barrels of petroleum and petroleum-related products; Subic Bay International Terminal Corp., a P906-million company that manages and operates the New Container Terminal 1 and is committed to further develop the facilities; and Subic Bay Freeport Grain Terminal Services, Inc., with investment of P683 million for bulk grain handling for Central and Northern Luzon grain importers.
Then for the manufacturing and maritime sector, the awardees were: Hanjin Heavy Industries Inc., Phil., Subic’s biggest investor with over US$2 billion investment and a total of 33,863 workers; Sanyo Denki Phils., Inc., a P3.2-billion company with 3,500 workers engaged in the manufacture of electric machineries, appliances and computer and electronic wares; and Tong Lung Phils. Metal Industry Co., Inc., which has over P2.1 billion in investments and over 2,100 workers for the manufacture of residential and commercial locksets and door closer.
The Subic Bay Freeport and the Clark Freeport Zone in Pampanga remain to be major contributors to the country’s economic development, as their combined export values last year provided about 11 percent of the country’s gross domestic product (GDP).
The SBMA said that Subic and Clark’s combined export value last year amounted to around US$6 billion and was very significant to the gross regional domestic product (GRDP), which contributed 11 percent to the Philippine GDP. (30)
SBMA Chairman Roberto V. Garcia, along with other SBMA officials, joins locator-awardees during the first SBMA Mabuhay Business Awards ceremony held at the Subic Bay Exhibition and Convention Center on December 11, 2015. Fifteen of the biggest business locators here were recognized for their significant contribution in strengthening the local economy and to the growth of the country’s gross domestic product.