Jose Roberto R. Antonio, son of former US Ambassador Jose E.B. Antonio, has resigned as company director and member of the board of the family’s listed real estate developer Century Properties Group (CPG) Inc.
Antonio’s privately-owned Revolution Precrafted Philippines faced a number of issues including the complaint of contractors and suppliers about “unmet contracts.”
The CPG’s board accepted the resignation of Antonio as its co-managing director and member of the board that takes effect immediately.
In his letter to the board sent last week, Antonio said his departure from CPG will allow him to focus on resolving the issues in his privately-owned company—Revolution Precrafted Philippines, its subsidiaries and allied businesses.
“I know I am making the correct decision to step down from my position in CPG as I will leave it under the very capable leadership of the board and the professional expertise of its senior management team. This will also allow me to focus on addressing the pressing issues in Revolution and its allied businesses,” he said.
Antonio said Revolution Precrafted and its allied companies Resurgent, Renegade for branding concepts and Radiant for beauty products continue to comply with its agreements.
“The company is ready to settle legitimate obligations which have fallen due and has no intention to renege on these legitimate contractual claims,” it said.
Last week, the National Bureau of Investigation said it is investigating Antonio for complaints that it has allegedly duping several businessmen of P150 million through questionable deals in Revolution Precrafted.
The contractors and suppliers filed the complaint with the NBI alleging they would win contracts in Revolution Precrafted, which claims to make luxury houses using prefabricated materials, if they pay 10 percent of the contract’s value.
Antonio is blaming the pandemic for the default, though his woes may have started even before the outbreak of Covid-19.
His lawyers, meanwhile, has warned the public on making statements against Antonio.
“On this note, we caution people and individuals from making any malicious and false statements against Robbie Antonio and his companies. We hope that we be allowed to fix the current situation without threats or intimidation, or else the company will likewise be forced to institute legal charges, both criminal and civil,” his lawyers said.