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Tiu Takes Over Third PSE-Listed Shell Company

 



Shell companies appeared to have their unique seduction in the Philippines. On 16 December 2021, businessman Antonio L. Tiu disclosed his take over of the publicly listed shell firm Ever-Gotesco Resources and Holdings, Inc. (PSE: EVER), his third shell company acquired since 2008. (Read the full report from Bilyonaryo.com)

Tiu first took over MUSX Corp. (PSE: MUSX), a semiconductor company incorporated in 1992 in 2008, which he renamed later as Greenergy Holdings Inc. (PSE: GREEN), an investment holding company with a portfolio in agriculture (AgriNurture Development Holdings Inc.), agritourism (Winsun Green Ventures Inc.), real estate development (Sunchamp Real Estate Development Corp.), banking and finance, information technology (Lite Speed Technologies Inc. and Ocean Biochemistry Technology Research Inc. [non-operational as of yearend-2020]), and other environmentally friendly investments (Total Waste Management Recovery System Inc. [non-operational as of yearend-2020]). (Source: PSE Edge) 

In 2018, Tiu again took over Interport Resources Corp. (PSE: IRC), a natural resource development company incorporated in 1975. Later, which he later renamed into Philippine Infradev Holdings Corp. (PSE: IDC), which focuses on infrastructure development (Makati City Subway, Inc. and Jiangsu Rizal Infradev Co., Ltd.) and property development (Interport Development Corporation). (Source: (PSE: Edge)

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