SBMA remits P1.465B in revenue to DOF

Subic Bay Freeport — The Subic Bay Metropolitan Authority (SBMA) has remitted P1,465,478,485.70 in revenue earnings to the Department of Finance (DOF) at the DOF Building, Bangko Sentral ng Pilipinas (BSP) Complex in Manila on 14 July 2025.

SBMA Chairman and Administrator Eduardo Jose L. Aliño handed over a mock check representing the amount to Finance Secretary Ralph Recto during a simple turnover ceremony.

Secretary Recto expressed his gratitude to SBMA, saying, “Today, we once again gather for another testament to the strength of good governance and nation-building as the Subic Bay Metropolitan Authority formally turns over P1.4-billion in dividends to the National Treasury.”

The finance chief highlighted that dividends are his favorite kind of revenue, noting that it “helps raise funds for government programs without raising taxes on our people.”

According to Chairman Aliño, the P1.465-billion earnings include 50 percent of net earnings for calendar year 2024, amounting to P798,267,923.24.

“Apart from the dividend due, the P1.465-billion earnings also include P667,210,562.46 as the last installment for the dividend of CY 2022,” he added.

Senior Deputy Administrator for Support Services Atty. Ramon O. Agregado said the government-owned and controlled corporation (GOCC) had earlier requested a downward adjustment of the 50 percent dividend rate.

He explained that the Finance Group had recommended the downward adjustment, which was later approved by Chairman Aliño.

“The amount of P1.465-billion is budgeted from the CY 2024 and 2025 Corporate Operating Budget (COB), under Budget Utilization Request (BUR) numbers 23-12-003800 and 2025-03-00793, amounting to P798.27 million and P667.211 million, respectively,” Agregado said.

He added that since the CY 2025 COB only included P1.465 billion, some projects or expenses may need to be deferred or canceled.

Secretary Recto said, “SBMA was created to transform what was once a military base into a world-class economic engine—a self-sustaining investment hub that generates jobs and opportunities for our people.”

“As we look to the future, I urge the SBMA to take the next bold step. We have the talent, the location, the incentives, and the leadership to make Subic not just a regional hub, but a global player. So, let’s keep raising your standards, keep innovating, and keep making Subic the kind of place where investors would want to come, stay, and grow,” he added.