Following is an article from Victor Agustin of Manila Standard Today.
This rumor has been circulating around for quite some time. It has been circulating around town that Ayala is well underway of constructing their mall inside Subic Bay. When news of this got around, everyone thought SM was the first to get a crack at Subic. There have been some unverified information that SM is negotiating for a presence within the SBMA.
