Vol. XXI, No. 176 [ Business World Online ]
Wednesday, April 09, 2008 | MANILA, PHILIPPINES
THE BOARD of Investments (BoI) has granted tax perks to two Filipino companies with combined investments of nearly P500 million to put up a new information technology (IT) firm and a tourism-related project, respectively.
Documents from the BoI showed Electronic Network Cash Tellers, Inc. (Encash), which focuses on software development, invested P223.6 million to provide Philippine rural banks a proper, secure and flexible automated teller machine service through a new banking software application called Savant. The Savant application software provides a centralized, multi-branch, Web-based, online system with account balance updates performed in real time. The software is Web-based to eliminate the need for expensive communication services and is centralized, supporting multiple branches with a single relational database.
The Go Green Adventure Tours, Inc., meanwhile, invested P250 million to operate an eco-tourism project in Nasugbu, Batangas, which will start operating this May. It will provide tour packages to local and foreign tourists that include outdoor activities such as sky diving and deep sea diving, wind surfing, snorkelling, and mountain treks, among others. — BSSD
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