Business Abstracts

  Arabica coffee declined 5 percent to $2.231 a pound in the ICE Futures on 23 December 2021 to its four-week low, as production in Guatemala and Honduras improved. A broader selloff in the New York futures market occurred. However, the price remained at an increased level of around 75 percent after the reduction of output in Brazil and Colombia, two of the world’s top suppliers, after experiencing adverse weather.  (See the full report at Business Mirror .)

  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]...

  A pioneering home-grown player in the Philippine coffee shop industry, Figaro Coffee Group Inc. has reduced its initial public offering to P0.75 per common share from its initial indicative price of P1.28 per share. Its offer period starts on 10 January 2021 and ends on 14 January 2021. Prior to its public listing, Figaro is a wholly-owned subsidiary of Figaro Coffee Systems, Inc., which has at least 28 years of presence in the Philippine industry. (Read the full report in Business Mirror .)