ARTHALAND Corp. has subscribed to P12.5 million worth of shares in its newly incorporated joint venture firm with Japanese partner Mitsubishi Estate Co., Ltd. In a disclosure to the stock exchange on Tuesday, the niche property developer said it incorporated Kashtha Holdings, Inc., after which it subscribed to 12.5 million shares worth P1 each. Arthaland earlier disclosed that its joint vent...
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The proposed Corporate Income Tax and Incentives Rationalization Act (Citira) will continue to give away tax breaks to priority industries that will generate more jobs and create additional value-added in the economy, the Department of Finance (DOF) said Monday. “We cannot dispute that the many industries receiving incentives have made valuable contributions to the economy and to the Fili...
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THE Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Circular 100-2019, prescribing the use of revised BIR Form 2316 (Certificate of Compensation Payment/Tax Withheld) January 2018, which was amended due to the implementation of Republic Act 10963, also known as the Tax Reform for Acceleration and Inclusion Law. The revisions to BIR Form 2316 include the removal of the person...
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ALLHOME Corp. met investor expectations at its market debut on Thursday, with its shares gaining 0.52% at the end of trading. The one-stop-shop home improvement store of real estate tycoon Manuel B. Villar, Jr., dubbed by Forbes this year as the country’s richest man, raised P14.9 billion after exercising its over-allotment option. Its shares closed at P11.56 apiece. It actua...
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A UNIT of Filinvest Development Corp. (FDC) is partnering with Japanese firm Mitsubishi Corp. for the development of a P15-billion mixed-use project in Alabang. In a statement issued Thursday, FDC said Mitsubishi will acquire a 40% stake in almost 17,000 square meters (sq.m.) of land held by its unit Filinvest Alabang, Inc. (FAI). The property is located in Filinvest City, the company’s 2...
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ArthaLand Corporation (ALCO) recently signed an agreement with Mitsubishi Estate Company, Ltd. (MEC), which is one of the largest real estate developers in Japan. This agreement will be Mitsubishi Estate’s first venture in the Philippines. Mitsubishi Estate is acquiring from ALCO a 40% stake in ALCO’s ownership of Savya Land Development Corporation, which is developing the Savya...
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