Trans-Asia Oil and Energy Development Corp. of the Phinma group on Tuesday reported that its joint venture company with AC Energy Holdings Inc. is set to secure a P7-billion loan from a group of local banks to fund the expansion of a 135-megawatt (MW) coal power plant in Batangas province.
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The Phinma group plans to scale up investments in power generation, education, housing and hospitality industries in the next few years to take advantage of opportunities offered by local demographics and favorable environment.
Phinma Corp.’s net profit declined sharply last year as the global economic slowdown gnawed at its steel production and animation businesses.
Diversified firm Phinma Corp. has acquired two business process outsourcing (BPO) firms to expand its investment in the growing “high-value” industry. In a statement, the company said its board had approved the purchase of an 85-percent interest in Fuld & Co. Inc. (Fuld) for $7.99 million. Fuld is a business research and consulting firm focusing [...]
