News – PH – Robbie Antonio is leaving Century Properties’ board in a separate company

0
4

MANILA, Philippines – Businessman Jose Roberto “Robbie” Antonio is a member of the management team and board of directors of Century Properties Group Inc Resigned (CPG) following controversy over his own prefabricated housing company Revolution Precrafted Properties Inc

In a special board meeting on Monday (Feb 22) the CPG board accepted the resignation of Antonio as co-managing director and board member with immediate effect

“The board found that the reason for his resignation is to allow him to focus on pressing issues within his own business and those related to it,” CPG told the Philippine Stock Exchange on Monday

By exiting CPG, a company founded by his father and run by the Antonio family, Antonio is trying to protect the listed company from the current problems of Revolution Precrafted

This came after a group of contractors and suppliers filed a complaint with the National Bureau of Investigation (NBI) claiming Revolution Precrafted had failed to meet contractual obligations, alleging Revolution Precrafted, once a high-flying start -up, which even received new equity based on prices that made it a “unicorn” or $ 1 billion new venture in 2017, was unable to pursue contract projects because it couldn’t was to obtain the necessary regulatory approval

For his part, Antonio previously said that Revolution Precrafted, like many companies, was not exempt from the market challenges posed by the COVID-19 pandemic, admitting that this public health crisis is affecting sales, collections and operations of his business had

“Even so, the company honestly assures its stakeholders that it will honor all legitimate contractual obligations to its partners and suppliers and will only consider some time to resolve its problems,” said Antonio

“In parallel with this, we will be working seriously to collect the company’s amounts due,” he added

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer’s other 70 titles, &, share up to 5 gadgets, listen to the news and download & articles on social media as early as 4 a.m. Call 896 6000 an

We use cookies to ensure you get the best possible experience on our website. If you continue, you consent to our use of cookies. To find out more, please click on this link

Jose Roberto Antonio, Century Properties, Revolution Precrafted Properties Limited, Philippines

News – PH – Robbie Antonio is leaving Century Properties’ board amid problems at a separate company

Source: https://business.inquirer.net/318264/robbie-antonio-quits-century-properties-board-amid-woes-in-separate-firm