Sunday, September 20, 2020

SBMA To Foreclose Ocean Adventure Park

SBMA To Foreclose Ocean Adventure Park


Alibaba Cloud Launches New Digital Ecosystem Strategy In The Philippines

This will help local businesses adapt further to the new normal!

EDC Donates PCR Machines To Enhance Negros Oriental’s COVID-19 Resiliency

Energy Development Corporation donates equipment worth P8.5-million to Negros Oriental.

CeMAP, PISI Express Full Support For Bayanihan To Recover As One Act

The Cement Manufacturers Association of the Philippines and Philippine Iron and Steel Institute announce full support to the recently signed Bayanihan to Recover as One Act.

Globe Gives Back To Loyal Customers With 0917 National G Day Festivities

With lots of games and surprises for loyal Globe users, catch the National G Day starting September 17!

Subic’s popular theme park, Ocean Adventure, and its related facilities are set to be repossessed by the Subic Bay Metropolitan Authority (SBMA) due to multiple contract violations and failure to fulfill development commitments.

SBMA Chairman & Administrator Wilma T. Eisma on Friday said the agency has served a notice of pre-termination of contract to the Subic Bay Marine Exploratorium Inc. (SBMEI), which operates the marine theme park complex under a lease agreement signed in 2007.

Aside from its failure to comply with its lease contract, the SBMEI also committed violations like illegal subleasing of property, constructing without permits, improper storing of waste, and closing public roads.

The company also has arrears of about PHP25 million on its payment scheme, as well as PHP7 million on its current billing, SBMA records showed.

“This is actually sad news for us, because Ocean Adventure Park is the pioneer theme park in the Subic Freeport and is a hugely popular tourist destination. However, its multiple contract violations have been a long-festering problem that must be addressed now,” Eisma said.

She explained that the SBMA has notified SBMEI of its violations as early as July and assiduously provided guidance to solve the problems, but the company did not submit a satisfactory proposal to correct the violations.

“We wanted them to stay, of course, but there was not much concrete action from their side,” Eisma said.

“So after months of negotiation and attempts to help SBMEI keep its lease, there is no longer any other recourse but to apply the law and pre-terminate the company’s lease agreement,” she added.

The SBMA official also stressed that SBMEI’s failure to deliver its development commitments not only constituted violations of its contract, “but also prejudiced the SBMA’s financial interest because it curtailed the agency’s earning potential.”

She added that even if the SBMA was willing to reconsider SBMEI’s decades-old breach of contract, the park operator along with two other locators came out with a story accusing the Subic agency of not adhering to the “ease of doing business” law.

Eisma said the news report only served as a further irritant between the parties, since the SBMA has already put in place various measures to further ease business in the Freeport, including putting up a one-stop shop for permits and extending the validity of the Certificate of Registration and Tax Exemption (CRTE) from one to three years.

“We’re firm but fair,” Eisma pointed out, adding that “we agree that the SBMA should adhere to the ‘ease of doing business’ law, but that does not mean we have to relax our rules to the detriment of the government.”

Under the pre-termination order, the SBMA will repossess all of the SBMEI’s 493.16 hectares of undeveloped property upon the lapse of the 30-day reckoning period. Then, it will give the SBMEI 24 months to slow down its activities at the 11.6-hectare developed area that includes the Ocean Adventure Park, Camayan Beach, and the newly-opened Adventure Water Park.

“We are giving them sufficient time to wind down their operations at the marine park, remove all their animals and movable property, and vacate the premises. We are also concerned about the disruption and stress this would cause to the animals, hence the two-year leeway,” Eisma said.

The Ocean Adventure Park started operations in 2000 under a contract that covered only the marine park.

In 2007, the SBMEI entered into a new agreement for the lease of a total of 436.89 hectares of land, and 67.87 hectares of bay area with a commitment to develop 101.71 hectares for more tourism activities.

Eisma said the SBMA has already informed the Office of the President of its decision to foreclose the SBME.

However, she said the agency has not yet closed the door to renegotiation. (PNA)

Latest News

Epson Launches New High-Speed Inkjet Copiers For Busy Work Environments

Check out the newest sustainable devices of Epson!

Sec. Tugade Suspends 0.75-Meter Physical Distancing

Tugade suspends the implementation of the reduced 0.75-meter physical distancing among passengers while waiting for the decision of PRRD on the matter.

TransUnion Tackles Online Credit Application Dropouts And Rising Fraud

The new Seamless Onboarding service will help financial services industry offer digital access to products for consumers during pandemic and beyond.

33K Eastern Samar Families Left Out Of SAP To Get Cash Aid

Around 33,000 families in Eastern Samar excluded from the national government's Social Amelioration Program will receive PHP2,000 cash assistance from the provincial government.

Palace On PH Internet Connectivity: ‘We Will Do Better’

Do you think that the internet connection in the Philippines will ever improve?

San Juan Puts Up Bike, Motorcycle Dedicated Lanes

San Juan City dedicates motorcycle and bicycle lanes along Ortigas Avenue. Have you seen it yet?

XTREME Appliances Reveals Exciting Plans For Filipino Consumers

XTREME Appliances announces its upcoming plans and efforts dedicated to the Filipino customers.

Manila Hospitals Get High-Flow Oxygen Devices

The high-flow oxygen therapy will benefit the Ospital ng Sampaloc patients with severe COVID-19 infection and who may have acute respiratory failure.

PH COVID-19 Cases Rise By 3,375; Recoveries Now 208K

DOH reports 3,375 new infections of COVID-19, raising the country’s overall tally to 276,289 with only 63,408 active cases on Thursday.