By Zinnia B. Dela Peña
(The Philippine Star)
MANILA, Philippines - The Securities and Exchange Commission has approved the business registration of EEI Subic Corp., a new wholly-owned unit of construction giant EEI Corp.
Documents filed with the SEC show that EEI Subic has an initial authorized capital stock of P100 million, P99.99 million of which was subscribed by EEI.
EEI Subic will primary engage in the business of general contracting and specialty construction services, fabrication and production of equipment systems for property development and infrastructure sectors.
The new firm will be operating exclusively within the Subic Bay Freeport Zone.
EEI is a major player in the construction of the Subic-Clark-Tarlac highway, South Luzon Expressway NAIA III fly-overs, the New Iloilo Airport, the Casecnan Irrigation project, the Camanava flood control and Bohol irrigation projects and the LRT Line 1 expansion project.
The company posted a net income of P291.62 million in the first half this year, up 15 percent from the same period a year ago, on higher gains in equity in the earnings of associates and overseas joint ventures.This translates to an earning per share of 28 centavos from 24 centavos earlier. Read More...
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