Ann: Business updated - 1 May Conference Call details, page-26

https://www.adas.ph/2020/05/12/us-navy-eyes-return-to-subic-bay-in-a-commercial-deal/

US Navy Eyes Return To Subic Bay In A Commercial Deal by One News | May 12, 2020
On average, 80 to 100 US ships visit Subic every year. The return of ship repair facilities will increase traffic at the former US naval base.

.........the United States Navy is planning to return to its former base in the Philippines under a commercial deal, the Philippine Navy chief said on Sunday, May 10, after an American equity firm and an Australian shipbuilder expressed keen interest in taking over the Subic shipyard from a bankrupt South Korean company. Vice Admiral Giovanni Bacordo said the two companies are in the final stages of negotiations with the Philippine government and several banks to take over the operations of Hanjin. The companies reportedly intend to invest about $2 billion and employ the shipyard’s over 30,000 skilled and experienced Filipino workforce.