PSE Circular for Brokers No. 401-98
PSE Circular for Brokers No. 401-98 • Philippine Stock Exchange • Circulars for Brokers • Jan 18, 1998
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January 18, 1998 PSE CIRCULAR FOR BROKERS NO. 401-98 Filinvest Land, Inc. 173 P. Gomez Street San Juan, Metro Manila FILINVEST SIGNS JOINT VENTURE DEAL WITH LAND PINE PTE LTD OF SINGAPORE FILINVEST LAND, INC., one of the country's leading full-range property developers, formally announced today that it had signed a joint venture agreement with Land Pine Pte. Ltd., a company incorporated in Singapore, for the establishment of a joint venture company which shall acquire undeveloped land in the Philippines primarily for the development of low-rise residential housing, including residential townships. Under the agreement, the parties committed to make a total investment of up to P2.6 Billion to the joint venture company which shall be owned 60% by FLI and 40% by Land Pine. The investment will come in the form of equity contribution and shareholder's loans.
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