Port operator seeks court action vs. Mariveles Grain properties auction

MANILA, Philippines - Listed port operator Asian Terminals Inc. on Friday disclosed that it has sought court intervention against the auction of certain properties at the Mariveles Grain Terminal. In a disclosure, ATI said the company and its subsidiary, Mariveles Grain Corp., asked the regional trial court of Balanga, Bataan to "stop the intended public auction of certain real properties located at the Mariveles Grain Terminal." The government has placed the properties for public auction for "alleged delinquent real property taxes." However, ATI said it has religiously paid its taxes and remains confident of its legal position. "ATI has likewise filed an appeal on the Notice of Re-assessment issued by the Provincial Assessor with the Local Board of Assessment Appeals," ATI said. Besides the highly-automated Mariveles Grain Terminal, ATI, used to be called Marina Port Services Inc., also operates South Harbor. Reports earlier said food and beverage giant San Miguel Corp. and Japanese company Toyota Tsusho Corp. were in negotiation for their acquisition of the Mariveles Grain Terminal from ATI. GMANews.TV