CYBER Bay Corp. is set to receive reduced compensation from the Philippine Reclamation Authority (PRA) to settle the cumulative claims of the Cyber Bay group in connection with a joint venture project to reclaim a 750-hectare piece of land along Manila Bay.
In a disclosure to the Philippine Stock Exchange (PSE) on Monday, Cyber Bay said that its wholly owned subsidiary Central Bay Reclamation and Development Corp. and the PRA entered into a compromise agreement on their longstanding issue over a joint project to reclaim a portion of land along Manila Bay.
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