By Danessa O. Rivera
03/30/2011
[ tribune.net.ph ]
Listed Fil-Estate Land Inc. changed its name to Global-Estate Resorts Inc. (GERI), after its proposal for the renaming was approved by the Securities and Exchange Commission (SEC) yesterday.
GERI AVP Alain Sebastian said the new name reflects the company’s focus in establishing tourism estates all over the country to cater to the global market as the company has over 1,600 hectares in strategically located tourism hotspots in Boracay, Tagaytay and Batangas to be developed into master-planned tourism-oriented communities.
“We believe that the tourism industry will generate new growth for the Philippines, and GERI is well positioned to support this,” Sebastian said.
In addition to the change of corporate name, the SEC has also approved the increase in the number of directors of the company from seven to nine directors.
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