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Bilyonaryo - Business

Pier turmoil: SBMA’s Tan and Ponce silent on fate as Subic port’s future hangs in the balance as SC orders Romero’s Harbour Port takeover

September 17, 2023

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Bilyonaryo-Pier turmoil SBMAs Tan and Ponce silent on fate as Subic ports future hangs in the balance as SC orders Romeros Harbour Port takeover - Bilyonaryo Business News

The original private operators in Subic are awaiting much-needed clarity from the Subic Bay Metropolitan Authority (SBMA) in the wake of a recent court-ordered transition in the port business.

Chairman Jonathan Tan and Director Jose Mari B. Ponce of SBMA have remained unresponsive to inquiries raised by the current SBMA port operators, namely Amerasia International Terminal Services, Mega Subic Terminal Services, and Subic Seaport Terminal Services, regarding the management takeover by Harbour Centre Port Terminal, owned by the Romero family.

In a closely divided 3-2 decision handed down two years ago, the Supreme Court Third Division compelled SBMA to enforce a 2010 agreement (concluded just two months prior to election day) that transferred control of the freeport to Harbour Centre. Notably, this agreement has faced opposition from SBMA, the National Economic and Development Authority, and the Office of the Government Corporate Counsel, explaining why it has languished in court for over a decade.

The three operators have urged Tan and Ponce to safeguard their substantial investments of P1 billion and ensure the continuity of their operations, as their lease contracts still have many years left—Amerasia with 17 years, Mega Subic with 37 years, and Subic Seaport with 52 years.
These operators seek an official statement from SBMA clearly outlining its position and planned actions regarding the implementation of its joint venture agreement with Harbour.

Specifically, they are seeking insight into the timing and process of the management turnover, as well as whether Harbour Center will compensate them for their investments, business losses, and the absorption of their 1,292 combined employees.

These three operators have collectively contributed P2.7 billion in revenues to SBMA from 2009 to 2022.

Related News Tags: Chairman Jonathan Tan a, Director Jose Mari B. Ponce, Subic, Subic Bay Metropolitan Authority (SBMA)

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