PHA expands in infra, tourism and power

Listed property developer Premiere Horizon Alliance Corporation (PHA) is diversifying into infrastructure, tourism and power while eyeing a partnership with Korean company D-Eco Energy Co., Ltd. (D-Eco).

In a disclosure to the Philippine Stock Exchange (PSE), the company said it signed a memorandum of understanding (MoU) with D-Eco to explore joint ventures. PHA president and CEO Augusto Antonio Serafica, Jr. chairman and Yoo In Taek, chairman of D-Eco signed the MoU.

“Both companies are studying the possible investment and partnership structures in the envisioned project companies on each of these sectors utilizing their respective resources and expertise,” the company said.

It added the infrastructure project is anchored on the limestone assets of its infrastructure subsidiary, Redstone Construction and Development Corporation. Its West Palawan Premiere subsidiary is undertaking PHA’s tourism project in Puerto Princesa City that combines a serene mountainside resort and beach retreat.

At the same time, the company said Redstone is set to do a listing by way of introduction within the year subject to regulatory approval by relevant agencies. Listing by way of introduction allows a company to join the PSE without having to sell shares.