There is a new rumors that after acquiring MRC, Lucio "Bong" Tan Jr. is buying LIHC. On May 2009 Lodestar acquired 100% of Abacus Coal Exploration Development Corporation ABACOAL and its coal property.The 7000 hectare coal property is covered by Coal Operation Contract (COC) No. 148.
Lucio "Bong" Tan Jr. and an investment fund manager are infusing close to P5 billion worth of combined assets and cash in MRC Allied Industries Inc. to transform the publicly listed firm into a power-generation holding company.
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