MANILA, Philippines — Federal Land, the property development arm of the Ty-led GT Capital Holdings Inc., is putting up The Grand Midori along Exchange Road in Ortigas Center, the second iteration of the brand in the country following the success of first The Grand Midori in Makati. The two-tower high-rise development will offer prime living spaces exemplifying craftsman-like, elegance, an...
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MANILA, Philippines — Phinma Energy Corp., to be renamed AC Energy Philippines Inc., is eyeing to borrow up to P15 billion to fund investments. In a disclosure to the Philippine Stock Exchange yesterday, the board of Phinma Energy approved the availment of term loan facilities for up to P15 billion. The borrowing will be used “to fund new investments,” Phinma Energy preside...
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MANILA, Philippines — More than 1.5 million pensioners of the Social Security System (SSS) may now borrow up to P200,000 from the state pension fund under its Enhanced Pension Loan Program (PLP), a top official said yesterday. In a statement, SSS president and chief executive officer Aurora Ignacio said they launched the enhanced PLP pursuant to Social Security Commission (SSC) Resolution...
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ARTHALAND Corp. has subscribed to P12.5 million worth of shares in its newly incorporated joint venture firm with Japanese partner Mitsubishi Estate Co., Ltd. In a disclosure to the stock exchange on Tuesday, the niche property developer said it incorporated Kashtha Holdings, Inc., after which it subscribed to 12.5 million shares worth P1 each. Arthaland earlier disclosed that its joint vent...
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The proposed Corporate Income Tax and Incentives Rationalization Act (Citira) will continue to give away tax breaks to priority industries that will generate more jobs and create additional value-added in the economy, the Department of Finance (DOF) said Monday. “We cannot dispute that the many industries receiving incentives have made valuable contributions to the economy and to the Fili...
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THE Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Circular 100-2019, prescribing the use of revised BIR Form 2316 (Certificate of Compensation Payment/Tax Withheld) January 2018, which was amended due to the implementation of Republic Act 10963, also known as the Tax Reform for Acceleration and Inclusion Law. The revisions to BIR Form 2316 include the removal of the person...
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