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SBMA cites $359-million Subic exports in first quarter

By Ric Sapnu Updated May 16, 2009 12:00 AM [ ]

SUBIC BAY FREEPORT, Philippines — Exports by firms inside the Subic Bay Freeport Zone reached $359.45 million in the first three months of this year, posting a 54.79 percent increase over the $232.21 million recorded in the same period last year.

Subic Bay Metropolitan Authority (SBMA) administrator Armand Arreza said export production by Subic firms were recorded at $127.83 million in January, $58 million in February, and $173.59 million in March.

The surging exports in the first quarter led to an increase of $127.23 million over Subic’s export performance a year ago.

Figures from the SBMA showed that the bulk of first quarter exports or a total of $328.29 million were contributed by the top 10 exporters in Subic Bay.

These leading exporters are: Korean shipbuilder Hanjin Heavy Industries Co.-Philippines, which posted a freight on board (FOB) value of $179.36 million; Hong Kong cell phone trader Lets Do Mobile Philippines, with $57.43 million; Taiwanese computer maker Wistron Infocomm (Phils) Corp., $36.13 million; Japanese ATM-maker Hitachi Terminals, $16.46 million; and Japanese micro-motor manufacturer Sanyo Denki, $16.23 million.

Also in the top 10 exporters list are: Japanese wood products manufacturer Juken Sangyo, with exports of $8.73 million; Danish eyewear manufacturer Lindberg Subic Inc., $6.38 million; Taiwanese lock maker Tong Lung (Phils) Metal Industry, $4.34 million; Taiwanese aircon maker Hitachi, $3.38 million; and Japanese electronics sensor maker Nicera, with $2.79 million.

Arreza said the increase in export production is a good sign that the Subic Bay Freeport remains economically healthy despite the ongoing global economic downturn.

“Recent indicators only show that Subic stays on top of the situation and the companies here remain resilient and productive,” he said.

“This makes us all the more confident that hard work on the part of the SBMA and the business locators here would enable us to pull through these hard times,” said Arreza. – With Aisa Osorio, Bebot Sison


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