Firstly, Flame Sako has an office here with local representatives. Thus, Mr. Cruz should have contacted us for the appropriate information regarding his self-appointment as the final arbiter of the firm’s activities.
Secondly, who in the First Hawaiian Bank (mentioned as a local bank in his letter) gave you the information that the firm applied for a $20 million loan that was subsequently denied? In the first instance, Flame Sako never applied for a loan with FHB.
Thirdly, the idea of subleasing is furthest from the commitment of Flame Sako’s investors to make good on their word of honor to proceed to the completion of the planned resort and spa.
Fourthly, the reckless release of information without verification from the firm’s local representatives is highly irresponsible though we hope that in the future you would contact us for the right information.
We are here to foster a lasting partnership with the people of the CNMI and we have no intention to withdraw from this commitment.
WON SUK BANG
Flame Sako
Strategic Planning Manager
Garapan, Saipan
