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Subic Freeport Attracts More Investors from Taiwan

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Subic Freeport Attracts More Investors from Taiwan Subic bay news vol 12 no 15 15.00Php Subic Freeport Attracts more Php 26.00 Investors from Taiwan SUBIC BAY FREEPORT – More Tai- wan-based companies are now setting their sights on this premier free port, with eight firms expressing interest to in- vest here after talks with Subic Bay Met- ropolitan Authority (SBMA) officials in the recent Philippine Investment Forum held in Taipei. SBMA Chairman and Administra- tor Wilma T. Eisma, who presented in- vestment and business opportunities in the Subic Bay Freeport during the forum, said two Taiwanese companies had so far committed a total of $9 million in invest- ments right away. These are FTI Holdings Group (Milagros International Inc.), which plans to invest $6 million in Subic and to hire 600 workers within the year, and Grey Matter Industries Group, which had com- mitted to invest $3 million and hire 200 workers. FTI Group designs, manufactures and sells luggage, fashion handbags and backpacks, apparel and apparel accesso- ries, outdoor products and pet products and accessories which are sold in the United States. ] More than 250 Taiwanese investors attended the Philippine Investment Forum organized by the Philippine Investment Promotion Plan Eisma said FTI’s chief auditor, (PIPP) in coordination with the Philippine Trade and Investment Center (PTIC)-Taipei. Paul Lee, already inspected a prospective factory site in Subic’s Tipo area on April AboitizPower completes purchase in AC Energy’s thermal power company 30, and will conduct another inspection with other company officials next month Aboitiz Power Corporation (AboitizPow- to finalize the new business venture. er) completed its acquisition of a 49% Meanwhile, Grey Matter Indus- voting stake and a 60% economic stake tries Group, which is engaged in the in AA Thermal, Inc., AC Energy’s thermal manufacture of PET bottles, plastic films platform in the Philippines. and other plastic products, has already This follows the execution of a sent the SBMA a letter of intent on April share purchase agreement for the trans- 29, Eisma added. action last year, and the completion of More than 250 Taiwanese in- all conditions precedent. The Philippine Competition Commission approved the vestors attended the April 24-26 Taipei transaction last February 28, 2019. The trade roadshow organized by the Philip- transaction is valued at USD572.9 million, pine Investment Promotion Plan (PIPP) after adjustments. in coordination with the Philippine Trade AA Thermal has interests in GN- and Investment Center (PTIC)-Taipei, the Power Mariveles Coal Plant Ltd. Co., the commercial affairs section of the Manila owner and operator of an operating 2x316 Economic and Cultural Office (MECO). MW coal plant in Mariveles, Bataan, and The forum showcased invest- in GNPower Dinginin Ltd. Co., the devel- ment and business opportunities for oper and owner of a 2x668 MW supercrit- Taiwanese industry players who are re- ical coal plant project in Dinginin, Bataan, positioning their strategy in light of the which is currently under construction. recent global trade and economic devel- GNPower Mariveles has been op- opments and conflicts between major erating since 2013 while GNPower Dingi- global markets. nin Unit 1 is currently expected to come Eisma said that in the Taipei trade online later this year. roadshow, six other Taiwanese firms ex- The completion of the transaction pressed interest to locate in the Subic With its first unit coming online later this year, GNPower Dinginin seeks to help stabilize increases AboitizPower’s economic inter- Bay Freeport and the Subic agency is now power supply in the grid. ests in GNPower Mariveles and GNPower in touch with them to firm up investment Dinginin to 78.3%, and 70%, respectively. plans here. Among the prospective investors are Rong Shin Industrial Co., Ltd., which DENR USec. Antiporda threatens CDO vs open dumpsite in Bataan is recognized as the world’s leading man- LIMAY, Bataan -- The Department of Environment and Natural Re- ufacturer of lawn and garden power tool sources (DENR) said it will issue a cease-and-desist order against muffler system; Catcher Technology Co., an open dumpsite in a village here after inspection Wednesday. Ltd., which is a major supplier of Taiwan- “Para hindi madagdagan ang basura, bibigyan natin ng ese computer giant Wistron; Primax Elec- cease and desist order upang mapigilan ang pagtatapon dito (In tronic Ltd., which manufactures com- order not to have more wastes, we will issue a cease and desist puter peripherals and accessories for order to stop the dumping here),” DENR Undersecretary Benny the Taiwan, China and the United States Antiporda said. markets; CDStar Co., Ltd., manufacturer “If you will notice sa bandang likod ang Manila Bay at of Skechers, Keen, Clarks, Asics, Salomon dito punung-puno ng basura (Manila Bay is at the back and here, and Novi shoes; and Ya Horng Electronics there are lots of garbage). This is another Smokey Mountain in Co., Ltd., producer of electrical applianc- the making. Ang pinagkaiba lang hindi sinusunog ang basura dito es and audio-visual electronic products pero pinapabayaang ganiyan (The difference is that the wastes for the US, Hong Kong, Japan, Australia, here are not being burned but just left like that),” he said. and France. Pointing to the garbage heap, Antiporda said: “Mapapan- Another prospective investor is sin din natin ang buong kabundukan ay napakaganda pero sinira Sagittarius Sporting Good Co., Ltd., (Xia- ng mga basurang ito (We can notice the beautiful mountain but men Feipeng Industry Co. Ltd.), a manu- this garbage dump ruins the view).” facturer of sports and protective equip- “Hindi papayagan ni Secretary Cimatu na ganito ang ment, which said it intends to produce mangyari. Ang creek ginawa nilang kanal. Saan napupunta ang fishing and sports inflatable boats in tubig, hindi nila ma-explain. (Secretary Cimatu will not allow this Subic. to happen. The creek turned into a canal. They cannot explain Eisma said most of the incoming OPEN DUMPSITE INSPECTION. Undersecretary Benny Antiporda of where the water goes. Sa theory namin, (In our theory), it ends Taiwanese investors will locate at the the Department of Environment and Natural Resources explains the Tipo area, which is being developed by ill effects of using the open dumpsite in Limay, Bataan on Wednesday up in the river,” the DENR official said. the SBMA as a major industrial site (May 8, 2019). The inspection is part of the government’s effort to see OPEN DUMPSITE, page 02 protect and rehabilitate the environment. (Photo by Ernie Esconde) Subic Bay News www.subicbaynews.com 02 Despite rains, Angat Dam Bataan May 13 elections Se- Sec. Villar inaugurates 9.6-km water level dips further curity Preparations Pulilan-Baliuag Diversion Road BALANGA CITY, Bataan -- Security preparations are in place to ensure a peaceful and orderly conduct of the mid-term elections in the province on Monday, the Bataan Police Provincial Office said on Saturday. Col. Villamor Tullao, Bataan police director, said the full force of the provincial command has been dis- patched to secure 167 polling centers in 11 towns and one city in the province and to maintain peace before, during, and after voting and canvassing. Some members of the Armed Forces of the Phil- ippines and the police’s Special Action Force and the Regional Mobile Force Battalion have been tapped as reinforcement. Tullao said most of the vote counting machines (VCMs) have been tested and sealed and now fully se- ALTERNATE ROAD IN BULACAN. Public Works and High- cured. ways Secretary Mark Villar (right) delivers his short Gilda Rodrigo, assistant provincial election su- message during the inauguration of the 9.6-kilometer pervisor, said only 10 VCMs have remained untested Pulilan-Baliuag Diversion Road in Pulilan, Bulacan on CITY OF MALOLOS, Bulacan-- The water elevation in Angat and unsealed due to the problem involving the SD (Se- Thursday, May 9, 2019. Looking on are Pulilan Mayor Dam slightly dipped even after the heavy rains in Metro cure Digital) cards. Maritz Ochoa-Montejo, Rep. Gavini Pancho and DPWH Manila and some parts of Bulacan Wednesday night. She said there are 695 primary or principal Regional Director Roseller Tolentino. (Photo by Manny Maricel Cruz of the Bulacan Provincial Public Af- VCMs and another 73 contingency VCMs in Bataan to Balbin) fairs Office said the water elevation in Angat Dam slightly serve 545,507 registered voters in 167 polling centers slid to 174.78 meters on Thursday morning as compared in 237 barangays. PULILAN, Bulacan -- The new 9.6-kilometer Pulilan-Bali- to 175.10 meters on Wednesday morning. On the other hand, there are 3,605 established uag Diversion Road is now open to motorists. On the other hand, Sevillo David Jr., executive polling precincts and 695 clustered precincts in the Department of Public Works and Highways director of the National Water Resources Board, said in (DPWH) Secretary Mark Villar led on Thursday the inau- a text message to the Philippine News Agency that com- province divided into two congressional districts. guration of the new road that will decongest the crowded pared to previous days, the rate of decline in the dam's “We expect the cards to be delivered any time section of Maharlika Highway from Barangay Tibag in Pu- water elevation after the heavy rains is a bit lower. today (Saturday) and we will proceed immediately with lilan town to Barangay Tarcan in Baliuag town. Meanwhile, Bro. Martin Francisco, chairperson of the final testing and sealing. There are no other con- The project with a total cost of PHP509.60 million the Sagip Sierra Madre Environmental Society Inc. based cern and we see no more hitch for the voting to pro- was implemented by the DPWH Regional Office 3 head- in the Department of Environment and Natural Resources ceed regularly on Monday,” Rodrigo said.
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