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US-based private equity firm Cerberus Frontier’s acquisition of the former Hanjin shipyard is expected to further stimulate the country’s economic growth as many displaced workers in the facility will be retained and an average of additional 300 jobs annually will be created, Finance Secretary Carlos G. Dominguez III said. Dominguez…

Subic Bay Freeport—The Subic Bay Metropolitan Authority (SBMA) is not divulging details of the impending takeover of the Hanjin shipyard here by American investment management company Cerberus Capital. This despite the reported announcement by newly-installed SBMA Chairman and Administrator Rolen Paulino Sr. on Monday about the takeover of the bankrupt…