Subic Air owns Learjet
By Fe Zamora, Elizabeth L. Sanchez, Inquirer News Service
THE LEARJET that allegedly brought former Election Commissioner Virgilio Garcillano to Singapore on July 14 is owned by Subic International Air Charter Inc. (Subic Air).
Records with the Securities and Exchange Commission (SEC) filed in May 2002 showed that Jose Ch. Alvarez was the listed chairman and president of Subic Air.
Other members of the board were Jose E. B. Antonio, Bienvenido Santos, Roberto Lozada and Jose Alvarez Jr.
Alvarez's brother Palawan Representative Antonio Alvarez, a member of President Gloria Macapagal-Arroyo's party Kampi, endorsed the second impeachment complaint filed by lawyer Jose Rizalino Lopez against Ms Arroyo. The complaint has been denounced by the opposition as a sham.
Antonio serves as special envoy to the People's Republic of China. According to a source, he was appointed to the post by Ms Arroyo early this year.
As special envoy to China, Antonio's "main mandate is to formulate the business strategy for the Philippines to increase trade [and] investment between the two countries," said Antonio's bio-data posted on the website of the Philippine Business Leaders Forum.
Presidents' favorite
A Subic Air Learjet is the favorite mode of transportation of the country's presidents.
Former President Joseph Estrada used to rent Subic Air during his provincial visits and so did his wife during the 2001 senatorial campaign.
Ms Arroyo also rented a Subic Air Learjet for her provincial visits.
Jose "Pepito" Alvarez is well-known in the transportation and automotive industry as he owns Columbian Motors, considered the No. 1 bus and truck maker in the country. In 1989, Alvarez set up Vietnam Motors Corp., which assembles BMW, Mazda and Kia cars in Ho Chi Minh City.
Global entrepreneur
Alvarez made his fortune in the 1970s cutting timber in Indonesia. He also operates Palawan's biggest logging company, Pagdanan Timber Products. Alvarez is from Cagayan de Oro City, where Garcillano maintains a house.
Antonio, who is described as a "global entrepreneur," co-founded the $150-million New Asian Opportunity Fund, and the $200-million Asian Specialist Growth Fund, according to the website.
Century Properties
In 1986, Antonio founded Century Properties Group (CPG), which is now among the country's top private property development and management firms," the Philippine Business Leaders Forum said.
CPG has diversified to other businesses, including Subic Air, the biggest corporate jet charter service in the country. Subic Air also represents Learjet and Bell Helicopters in the Philippines.
CPG is a distributor of BMW and owns Philtranco, the country's oldest bus company. It also manages Hi-Wire Asia, an IT and telecommunications firm.
Of the total 300,000 shares (worth P30 million) of Subic Air, Alvarez holds 210,000 or 70 percent. The second largest shareholder is Antonio who had subscribed to 60,000 shares of the company or 20 percent. The other shareholders hold 3.33 percent each.
The total assets of the company, which consist of cash, receivables, spare parts and prepaid expenses, amounted to P58.77 million as of December 2003, according to SEC records.
The company was registered with the SEC on June 15, 1995, primarily to carry on the business of chartering and selling airplanes, helicopters and other aircraft. The company had 42 regular employees as of Dec. 31, 2003.
THE LEARJET that allegedly brought former Election Commissioner Virgilio Garcillano to Singapore on July 14 is owned by Subic International Air Charter Inc. (Subic Air).
Records with the Securities and Exchange Commission (SEC) filed in May 2002 showed that Jose Ch. Alvarez was the listed chairman and president of Subic Air.
Other members of the board were Jose E. B. Antonio, Bienvenido Santos, Roberto Lozada and Jose Alvarez Jr.
Alvarez's brother Palawan Representative Antonio Alvarez, a member of President Gloria Macapagal-Arroyo's party Kampi, endorsed the second impeachment complaint filed by lawyer Jose Rizalino Lopez against Ms Arroyo. The complaint has been denounced by the opposition as a sham.
Antonio serves as special envoy to the People's Republic of China. According to a source, he was appointed to the post by Ms Arroyo early this year.
As special envoy to China, Antonio's "main mandate is to formulate the business strategy for the Philippines to increase trade [and] investment between the two countries," said Antonio's bio-data posted on the website of the Philippine Business Leaders Forum.
Presidents' favorite
A Subic Air Learjet is the favorite mode of transportation of the country's presidents.
Former President Joseph Estrada used to rent Subic Air during his provincial visits and so did his wife during the 2001 senatorial campaign.
Ms Arroyo also rented a Subic Air Learjet for her provincial visits.
Jose "Pepito" Alvarez is well-known in the transportation and automotive industry as he owns Columbian Motors, considered the No. 1 bus and truck maker in the country. In 1989, Alvarez set up Vietnam Motors Corp., which assembles BMW, Mazda and Kia cars in Ho Chi Minh City.
Global entrepreneur
Alvarez made his fortune in the 1970s cutting timber in Indonesia. He also operates Palawan's biggest logging company, Pagdanan Timber Products. Alvarez is from Cagayan de Oro City, where Garcillano maintains a house.
Antonio, who is described as a "global entrepreneur," co-founded the $150-million New Asian Opportunity Fund, and the $200-million Asian Specialist Growth Fund, according to the website.
Century Properties
In 1986, Antonio founded Century Properties Group (CPG), which is now among the country's top private property development and management firms," the Philippine Business Leaders Forum said.
CPG has diversified to other businesses, including Subic Air, the biggest corporate jet charter service in the country. Subic Air also represents Learjet and Bell Helicopters in the Philippines.
CPG is a distributor of BMW and owns Philtranco, the country's oldest bus company. It also manages Hi-Wire Asia, an IT and telecommunications firm.
Of the total 300,000 shares (worth P30 million) of Subic Air, Alvarez holds 210,000 or 70 percent. The second largest shareholder is Antonio who had subscribed to 60,000 shares of the company or 20 percent. The other shareholders hold 3.33 percent each.
The total assets of the company, which consist of cash, receivables, spare parts and prepaid expenses, amounted to P58.77 million as of December 2003, according to SEC records.
The company was registered with the SEC on June 15, 1995, primarily to carry on the business of chartering and selling airplanes, helicopters and other aircraft. The company had 42 regular employees as of Dec. 31, 2003.
With a report from PDI Research
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