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MANILA, Philippines – The Subic Bay Metropolitan Authority (SBMA) has named its biggest locators to date with the top 15 firms pouring in a combined investment of $3 billion and generating over 40,000 jobs for the economy.
Korean shipbuilder Hanjin Heavy Industries Inc. remained as Subic’s largest investor, pumping in over $2 billion and creating a total of 33,863 jobs.
Philippine Coastal Storage and Pipeline Corp. was the second biggest investor, contributing P3.4 billion in investments in fuel terminal and storage tank farm that is capable of holding 4.6 million barrels of petroleum and petroleum-related products.
Sanyo Denki Phils. Inc., manufacturer of electric machineries, appliances and computer and electronic wares, came in third with its P3.2 billion contribution along with some 3,500 workers.
Tong Lung Philippines 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, ranked fourth followed by the Subic Bay Town Center Inc. and Royal Duty Shops Inc. which invested P1.6 billion each.
Subic Bay Town Center operates the Harbor Point Mall while Royal Duty Shops engages in the retail business.
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Other major investors cited were the Subic Bay International Terminal Corp.(a P906 million company that manages and operates the New Container Terminal 1), Subic Bay Freeport Grain Terminal Services. for its P683 million investment in bulk grain handling for Central and Northern Luzon grain importers, PLDT Subic Telecom Inc. for its P550-million investment to provide telecommunications services in the Freeport; and Honeywell Ceasa Subic Bay Co. Inc.(a P435-million firm providing repair and overhaul of aircraft wheels, brakes and other aircraft equipment).
Rounding up SBMA’s largest locators are Petron Freeport Corp., a wholly-owned subsidiary of Petron Corp., Anglo Asia Commodities Corp., S-Corp Philippines Inc., Moon Kkang Talk Inc. and Fertuna Holdings Corp., a wholly-owned subsidiary of Cosco Capital Inc.
The 15 largest SBMA locators are mostly into the manufacturing, maritime, information and communication technology, logistics and leisure sectors.
The SBMA recognized the 15 firms out of the 1,536 Freeport-registered companies based on their actual investments, jobs generated, and multiplier effect caused by the locators’ business operations.
