Vol. XXII, No. 106 [ BusinessWorld Online ]
Monday, December 22, 2008 | MANILA, PHILIPPINES
The corporate regulator has approved the incorporation of two property firms, where the employee retirement fund of listed San Miguel Brewery, Inc. (SMB) is the majority shareholder.
The firms, which took the names Brewery Landholdings, Inc. and Brewery Properties, Inc., both had P1 million as capital stock. San Miguel Brewery, Inc. Retirement Plan subscribed to almost a quarter of the shares of both companies.
The firms’ incorporators included Ferdinand K. Constantino, who has been the senior vice-president, chief finance officer (CFO) and treasurer of San Miguel Corp since 2001. He also concurrently serves as the CFO and treasurer of San Miguel Brewery and is a director in San Miguel Properties, Inc. The companies will develop, sell and lease real estate, including buildings and other structures.
San Miguel Brewery, one of the few firms that dared to sell its shares to the public for the first time this year, is the beer unit of San Miguel Corp. ’ DGKC