Robbie Antonio quits Century Properties to focus on Revolution Precrafted, other businesses
Robbie Antonio
February 22, 2021
Revolution Precrafted’s Robbie Antonio has stepped down from his family’s real estate business, Century Properties, to focus on Revolution, which is being probed by national agencies, and his other businesses.
According to a filing with the Philippines Stock Exchange (PSE), Century Properties’s board has accepted the resignation of Antonio as co-managing director and board member with immediate effect.
The statement added that Antonio’s reason for leaving is to “allow him to focus on addressing the pressing issues in his own company and its allied businesses.” The Filipino real estate developer is actively searching for Antonio’s replacement as a board member and director.
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Editor’s Note: This article has been updated to include Revolution Precrafted’s response.
Robbie Antonio, the founder of luxury prefab construction firm Revolution Precrafted, is being probed by the National Bureau of Investigation (NBI) in the Philippines for allegedly duping former suppliers and contractors, according to local reports.
Nine contractors and suppliers filed a complaint on Thursday claiming that Revolution Precrafted misled them into a scheme, which would involve them winning contracts in Revolution’s development projects if they paid the company 10% of the contract’s value.
They further alleged that Revolution failed to secure government agency permits for the projects, throwing the validity of these contracts into question. The Filipino company was also criticised for failing to honour its contracts in ordering supplies, resulting in significant losses for the suppliers and contractors.
Robbie Antonio, Founder, Revolution Precrafted
February 19, 2021
Editor’s note: Robbie Antonio, the founder of the luxury prefab construction firm Revolution Precrafted, is being probed by the National Bureau of Investigation (NBI) in the Philippines for allegedly duping suppliers and contractors. Meanwhile, DealStreetAsia has received a notice, dated Feb. 1, from Lambert Worldwide, representing Antonio, to take down our investigative articles into the company.
We are republishing the two articles, published on Feb. 21, 2020 and March 2, 2020, as free reads below.
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