SBMA takes over 3 Freeport properties
Tan pointed out that the agency took over Building 8321 at the Zambales Highway, Cubi Triboa District, and Building 8359 at the Bataan Road, also in the Cubi Triboa District
Daily TribuneTan pointed out that the agency took over Building 8321 at the Zambales Highway, Cubi Triboa District, and Building 8359 at the Bataan Road, also in the Cubi Triboa District
Subic Bay Freeport — The Subic Bay Metropolitan Authority revealed on Tuesday that it has seized three more properties in line with the agency's thrust to reclaim lost assets.
SBMA chairman and administrator Jonathan Tan said that the agency took over two buildings from Parabion Inc. at the Cubi Triboa District of the Subic Bay Freeport Zone, adding that the area has a size of 1,176 square meters.
"The company has made contractual defaults that prompted the SBMA to take over their properties. One is failure to comply with development commitments, and two for non-payment of lease rentals and common use service area fees," he said.
The company has amassed a debt in CUSA fees totaling P7,165,788.08 as of 28 July of this year.
"We already sent them a final notice of default with demand to pay on 22 November last year, then we sent them a notice of pre-termination and repossession on 28 July that was served on 10 August. This is pursuant to the SBMA Board Resolution 23-07-0173 that was approved on 4 July," Tan said.
He also disclosed that the agency took over Building 8321 at the Zambales Highway, Cubi Triboa District, and Building 8359 at the Bataan Road, also in the Cubi Triboa District.
Meantime, the third property that was taken over by the agency was owned by Ramphos Corporation, a company that manufactures and sells the unique amphibious ultralight aircraft.
The property is a 966-square-meter portion of Bldg. 8045-C at the Subic Bay International Airport.
"The company has already expired their lease agreement with the SBMA on 11 September 2020 and we already took over the area on 5 September," Tan said.
The chairman confirmed that the company has contractual defaults such as non-payment of lease rentals (building spaces), CUSA fees, ACC and SOA fees amounting P9,706,611.40 as of 28 July of this year.
"We already sent them a notice of re-entry into, repossession and take-over of leased premises with demand to pay dated 22 August 2023," Tan said.
