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Robbie Antonio resigns from Century Properties amid issues with own 'unicorn' firm

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<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2021/business/02/22/robbie-antonio-century-properties.jpg"/></figure></div>MANILA - Century Properties Group Inc said Monday Jose Roberto &quot;Robbie&quot; Antonio resigned from its board to focus on addressing issues involving his company Revolution Precrafted.Antonio left his post as the company&#x27;s co-managing director and member of the Board of Directors &quot;to focus on addressing the pressing issues in his own company and its allied businesses,&quot; Century Properties told the stock exchange. Several contractors and suppliers of Antonio&#x27;s firm, which produces modular homes, on Thursday sought the help of the National Bureau of Investigation (NBI) to resolve some P150 million worth of allegedly <a href="https://news.abs-cbn.com/business/02/18/21/nbi-probes-businessman-robbie-antonio-over-alleged-p150-m-questionable-deals">questionable deals</a>. &quot;Century Properties Group Inc. would like to inform the Securities and Exchange Commission and the Philippine Stock Exchange that at the special meeting of the Board of Directors today, February 22, 2021, the Board accepted the resignation of MR. JOSE ROBERTO R. ANTONIO as CPGI’s Co-Managing Director and member of the Board, effective immediately,&quot; the statement said.Revolution Precrafted earlier said its receivables were also affected by the &quot;market challenges&quot; due to the coronavirus pandemic. The firm said was working with its suppliers and contractors to resolve the matter.Century Properties said it is currently in search of a replacement for the post Antonio vacated. Antonio is the son of Century Properties chairman Jose Antonio.In a statement, Revolution Director and Corporate Secretary, Michael Bilgera, said the company is confident about concluding the issues amicably for its legitimate contractual obligations. On Monday, the firm also appealed to the public to refrain from making &quot;malicious and false statements against Robbie Antonio and his companies.&quot;&quot;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,&quot; Revolution Precrafted said in a statement.Antonio&#x27;s other companies Resurgent Corp, Renegade Branding Concepts and Radiant Beauty are still active, the statement added.In 2017, Revolution was reported to have hit a valuation of over $1 billion, thus achieving &quot;unicorn&quot; status. But last year, at least two publications raised doubts about Revolution&#x27;s valuation.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/19/21/robbie-antonios-revolution-precrafted-vows-to-expeditiously-resolve-issues-with-suppliers">Robbie Antonio&#x27;s Revolution Precrafted vows to &#x27;expeditiously resolve&#x27; issues with suppliers</a></li>	<li><a href="https://news.abs-cbn.com/business/05/30/17/filipino-developer-aims-for-unicorn-status-with-modular-luxury">Filipino developer aims for &#x27;unicorn&#x27; status with modular luxury</a></li></ul>

Century Properties Group Inc said Monday Jose Roberto "Robbie" Antonio resigned from its board to focus on addressing issues in his company Revolution Precrafted.

Century Properties Group Inc said Monday Jose Roberto "Robbie" Antonio resigned from its board to focus on addressing issues in his company Revolution Precrafted.