10 new Subic locators to invest $5.3M

SUBIC BAY FREEPORT — This premier freeport zone has gotten some $5.3 million in committed, fresh investments, thanks to 10 new investors which have signed lease agreements with the Subic Bay Metropolitan Authority (SBMA).

SBMA chairman Feliciano Salonga said they are thankful for the continuous confidence of investors in the Subic Bay Freeport as an ideal site for investment.

"In return, we pledge our commitment to assist them with their needs in doing business here," he said.

Out of the $5.3 million in total committed investments, Salonga said 98 percent or $5.18 million are foreign direct investments.

The new investors include steel pipe manufacturer Mayer Steel Pipe Corp. with an investment of $3.1 million; estate developer Amires Corp., $755,000; Taiwanese export trader Taiming International Trading Inc., $560,000; Japanese industrial machine manufacturer Mechatro Inc., $231,000; and Norwegian aluminum scaffolding maker Delta Production Philippines Corp., $155,675.

The other new locators and their investments: Sky English Fluency Inc., an English language training center for Korean nationals, $140,000; Taiwanese differential probe assembler Sapphire Instruments Subic Bay Inc., $120,000; Taiwanese granite and marble manufacturer Topwin Stone Subic Inc., $100,000, and Taiwanese garden tools and hardware trader Wise Center (Phils.) Precision Appliances, $20,000.

The lone Filipino investor is Tropical Paradise Retirement Village Inc., a multi-dimensional and holistic retirement village developer, which will invest $115,384 in an expansion project.