Century Properties Group Inc. announced that Jose Roberto “Robbie” R. Antonio has resigned as Co-Managing Director and Member of the Board, effective immediately.
In his letter to the CPG Board on February 20, 2021, Antonio said his departure will allow him to focus on resolving the issues in his privately-owned company – Revolution Precrafted Philippines, its subsidiaries and allied businesses, which was affected by the pandemic.
Antonio thanked the board for their support and wished continued success for CPG. The Antonio family controls CPG which was founded by his father Jose E.B. Antonio.
“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.
Revolution is a supplier of prefabricated designer houses for CPG’s Batulao Artscapes project which features homes by noted Filipino and foreign designers.
CPG said he Board’s Nomination Committee is currently in search of Antonio’s replacement as a Director and Member of the Board.
In a separate statement, Revolution Precrafted and its allied companies Resurgent (Corporation), Renegade (Branding Concepts) and Radiant (Beauty) said they continue to comply with their 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.
It added that, “The company is likewise in the process of collecting what is due them from those that have also defaulted in their obligations to Revolution.”
Revolution claimed that the pandemic has activated force majeure stipulations in our contracts and has caused issues with our business transactions as it did with other industries.
“However, Revolution CEO Robbie Antonio and his companies Resurgent, Renegade and Radiant are still viable and active,” the statement said.
The firm also issued a warning that, “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.”
Revolution earlier issued a statement assuring that it will cooperate with authorities after some of its suppliers and contractors complained of its failure to meet contractual obligations.
The firm said it will “expeditiously resolve its company issues and fully cooperate with the authorities to address the complaints lodged by its suppliers and contactors at the National Bureau of Investigation.”
The firm said settlement discussions are now in progress with company stakeholders.
“We are fully cooperating with the authorities on this and we are committed to address these issues with our contractors and suppliers,” said Revolution Precrafted Director and Corporate Secretary Michael Bilgera.
Revolution Precrafted said it was working on several projects as a supplier of designer homes to landowner-developers when the pandemic struck, thereby affecting its sales, collections, and operations.
The firm said it was unable to collect its receivables from landowners, which in turn limited its ability to pay its contractors and suppliers.
“Like many companies, we were not exempt from the market challenges brought about by the coronavirus pandemic that significantly affected our sales, collections and operations,” said Robbie Antonio.
He added that, “Nonetheless, the company sincerely assures its stakeholders that it will honor all legitimate contractual obligations with its partners and suppliers, and only ask for some time consideration to resolve its issues. In parallel, we will also work in earnest to collect what is due the company.”