SUBIC BAY FREEPORT — The Subic Bay Metropolitan Authority (SBMA) has recorded an increase of 62 per cent in earnings before interest, tax, depreciation and amortization (EBITDA) during the first semester this year.
This was announced by SBMA Chairman Roberto Garcia, who also cited the added flexibility in the agency’s financial program as a result of its efforts to increase its earnings.
SUBIC BAY FREEPORT — Singapore-based Interflour Group Pte Ltd. (Interflour), one of the producers of the finest flour in the world, will be building its Philippine mill in Subic as part of its expansion program to meet flour demand in Southeast Asia.
This developed as Interflour Managing Director and Chief Executive Greg Harvey, Subic Bay Gateway Park President Jeff Lin, and Subic Bay Metropolitan Authority (SBMA) Chairman Roberto Garcia signed a 50-year lease contract paving the way for the construction of the flour mill facility.
The event was witnessed by SBMA COO Joven Reyes, SBMA Deputy Administrator Joy Alvarado and SBMA Investment Manager Ronnie Yambao. Representing Interflour were Group COO Jack Joseph Cwach, Group Marketing Director Angel Umali, Group CFO Ma. Cristina Piguing, Group General Counsel Mark Neo, Mabuhay Interflour Mill Inc. (MIMI) Board Members Jesus Alcordo and Edgardo Gallo, and MIMI General Manager Vicente Magbanua.
BAY FREEPORT – A faster, cheaper transport system will soon be available to cargo shippers in Central and Northern Luzon when a new feeder service that will ship containers from Manila to Subic begins its operation next month.
The Subic Bay Metropolitan Authority (SBMA) announced last Friday that a Manila-Subic shuttle service operated by the PTC Agency & Transport, Inc. will serve as a common feeder for shipping lines serving locators and shippers in and around Northern Luzon. The service, which will have a twice-a-week schedule, is scheduled for its maiden call on July 1 at the Manila International Container Port. It will arrive in Subic the following morning.
SBMA Chairman Roberto Garcia, who welcomed the shuttle project as a new gain for the Subic Bay Freeport, pointed out that it would make shipping more efficient and also help address difficulties that shipping lines and truckers face because of the truck ban imposed by the Manila city government.
Garcia also said that the Subic Bay Freeport would generate additional income from the feeder service, as it would increase ship calls in this free port. “The common complaint of shippers in Manila is that we have very few ship calls here. But once the feeder service is established, eventually there will be an increase in container volume, thus attracting major shipping lines to make their calls here,” Garcia said.
SUBIC BAY FREEPORT – The Subic Bay Metropolitan Authority (SBMA) emerged as the highest dividends contributor among special economic zones in the country during the recent Dividends Day in Malacañang, an annual event recognizing government-owned and controlled corporations (GOCCs) with the highest remittances.
Coming into the championship game unbeaten, Olongapo City defeated Bulacan, 3-1, to claim its first football gold in the 2014 edition of the Philippine National Games held at the San Beda College in Manila over the weekend.
SUBIC BAY FREEPORT – Subic Bay Metropolitan Authority (SBMA) chairman Roberto Garcia on Thursday warmly welcomed delegates to Ad Summit Pilipinas 2014, as the country’s biggest advertising and marketing congress formally opened at the Subic Bay Exhibition and Convention Center (SBECC) here.
SUBIC BAY FREEPORT – The Subic Bay Freeport Zone is ready to take on more investments that may come into the country following the recent turmoil in neighboring Vietnam and Thailand.
Subic Bay Metropolitan Authority (SBMA) Chairman Roberto Garcia revealed this during a briefing last week at the Subic Bay Yacht Club for members of a trade delegation from Virginia Beach, an independent city in the state of Virginia, which recently forged a sisterhood pact with neighboring Olongapo City.
SUBIC BAY FREEPORT – The Subic Bay Metropolitan Authority (SBMA) is now eyeing the rehabilitation of the Kalalake River, which borders this free port and the neighboring city of Olongapo.
SUBIC BAY FREEPORT ZONE -- In relation to the Enhanced Defense Cooperation Agreement between the United States and the Philippines, the Subic Bay Metropolitan Authority board last month approved a resolution allowing the Philippine Air Force and the Philippine Navy to set up partial military bases inside the Freeport, SBMA Chairman and Administrator Roberto V. Garcia said early this week.