President Rodrigo Duterte said during his recent State of the Nation Address (SONA) that he has rejected the United States’ (US) planned return to Subic Bay.
Remember that the Australian company Austal Ltd. and American company Cerberus Capital Management were reportedly negotiating with the Philippine government and several Banks to take over the operations of the South Korean company Hanjin in Subic.
So this won’t happen anymore, which I think is good because the Americans themselves also reportedly lobbied fiercely to keep a Chinese Company from taking over the Hanjin Shipyard. Now neither the Americans nor the Chinese will get to takeover Hanjin.
Remember that the Australian company Austal Ltd. and American company Cerberus Capital Management were reportedly negotiating with the Philippine government and several Banks to take over the operations of the South Korean company Hanjin in Subic.
So this won’t happen anymore, which I think is good because the Americans themselves also reportedly lobbied fiercely to keep a Chinese Company from taking over the Hanjin Shipyard. Now neither the Americans nor the Chinese will get to takeover Hanjin.
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