Connect with us

Hi, what are you looking for?

Economy

Greenergy sets up units for infrastructure, community development

ANTONIO L. Tiu-led Greenergy Holdings, Inc. has approved the incorporation of two wholly-owned units focusing on projects and services related to infrastructure and community development, the listed firm said on Monday.

In a regulatory filing, Greenergy said that its board of directors, who met over the weekend, had authorized the incorporation of wholly owned subsidiaries, namely: Green Tunnel Boring Corp. and Green Communities Development Corp.

Green Tunnel will engage in services with infrastructure developers and local government units, while Green Communities will undertake “transient oriented” community development projects.

The firm did not give further details about its new subsidiaries in its disclosure.

Earlier, the company said that it had discontinued its partnership with RYM Business Management Corp. and some land owners due to the impact of the global health emergency, and the prolonged community quarantine’s effect on real estate property businesses.

Last September, Greenergy ventured into the production of medical cannabis, as it built a new Australian subsidiary with US firm Yakuru — a cannabidiol distributor.

Greenergy is a holding company with interests in renewable energy, agriculture, and real estate development, among others. Some of its subsidiaries are Sunchamp Real Estate Development Corp.; Total Waste Management Recovery System, Inc.; and AgriNurture Development Holdings, Inc.

The listed firm posted a P7.33-million attributable net loss in the third quarter, 21.8% lower than P9.37 million in the same period last year.

Shares in Greenergy improved 13.36% to close at P3.14 apiece on Monday. — Angelica Y. Yang

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

People walk inside the Marikina Public Market, July 28. — PHILIPPINE STAR/ MICHAEL VARCAS By Kyle Aristophere T. Atienza and Jenina P. Ibañez, Reporters...

Economy

By Kyle Aristophere T. Atienza and Beatrice M. Laforga, Reporters THE LAST TWO packages under the comprehensive tax reform program, as well as a...

Economy

THE BUREAU of the Treasury (BTr) has set a P200-billion borrowing program for August as it expects sustained demand for government securities. The BTr’s...

Economy

By Beatrice M. Laforga, Reporter THE Bureau of Internal Revenue (BIR) suspended a regulation that would have increased the corporate income tax for nonprofit...

Economy

THE World Bank (WB) and the Philippine government recently signed an agreement for the $280-million (P14-billion) additional financing for a rural development program that...

Economy

CEBU Landmasters, Inc. (CLI) is venturing into resort development as the listed Visayas-Mindanao property company disclosed on Wednesday a P2.5-billion project that will beef...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Economy

THE Securities and Exchange Commission (SEC) has warned the public from investing or to stop any investment in a group named Maxxprofit Computer Trading...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!