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Ex-Navy chief warns about Chinese takeover of Subic shipyard: Masasakop tayo!


POLITIKO - The bible of Philippine Politics

Former Philippine Navy chief Alexander Pama has warned about the possible Chinese takeover of a commercial shipyard in Subic Bay, saying it poses national security risks.

At least two Chinese companies have reportedly expressed interest in taking over the operations of Hanjin Heavy Industries and Construction Corp., which is struggling with a $400-million debt to Philippine banks.

In a Facebook post Saturday (January 12), Pama said the issue surrounding Hanjin goes beyond business and economics.

“This is a VERY SIGNIFICANT NATIONAL SECURITY ISSUE! The ownership of Hanjin shipyard in Subic bay will give the owners unlimited access to one of our most strategic geographic Naval and Maritime asset,” he said.

Pama said that while Hanjin’s shipyard is for commerce, there’s no stopping the Chinese from making it into a naval base and maritime facility should they take over the South Korean company’s operations in the Philippines.

“Let us all be aware and wary of the serious security and other strategic implications of this issue! I urge our patriotic business community and the government not to allow Hanjin Shipyard to fall into the wrong hands!” he said.

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