Greenergy Holdings Inc. (GREEN), the holding company of businessman Antonio Tiu, is putting up two new subsidiaries that will maximize opportunities in sectors that cater to the evolving needs of Filipino consumers especially during the pandemic.
In a disclosure to the Philippine Stock Exchange, GREEN said the two subsidiaries will be used as vehicles for undertaking possible projects in industries that are resilient and are still economically feasible despite the pandemic.
Green Tunnel Boring Corp. will undertake services in infrastructure development particularly underground connectivity; while Green Communities Development Corp. will undertake transient oriented community development projects to create residential and commercial complexes.
Tiu announced earlier that he was converting Greenergy Holdings into a holding firm to own Agrinurture Inc. (ANI), his agro-commercial business.
Upon issuance of the pertinent regulatory approvals, Tiu will re-organize and transfer ANI shares to Greenergy. This will include the infusion of the fintech assets of ANI consisting of digital banking and the agri-token digital ecosystem among others.
At present, Greenergy owns 100 percent of WinSun Green Ventures; 62.3 percent of Sunchamp Real Estate Development Corp; 51 percent of the Yakuru Group which is into medicinal cannabis; and 18 percent of ANI.
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Article and Photo originally posted by Manila Bulletin last January 26, 2021 5:30am and written by James A. Loyola.
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