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JG Summit to consolidate subsidiaries

By: Doris C. Dumlao

MANILA, Philippines โ€“ JG Summit Holdings Inc. has obtained approval from the Securities and Exchange Commission to consolidate three subsidiaries engaged in textile milling, cement and print businesses into its operations to boost group-wide efficiencies.

In a disclosure to the Philippine Stock Exchange on Friday, JG Summit said the corporate regulator had given it the go-signal for the merger of Litton Mills, Inc., JG Cement Corporation and Premiere Printing Company, Inc. with and into the conglomerate.

The merger and consolidation of these wholly owned subsidiaries into its operations were intended to โ€“ to integrate administrative processes; enhance operating efficiencies and economies and allow productive usage of resources; and increase financial strength through pooling of resources to attain more favorable financing and credit facilities.
The SEC also approved the consolidation of the Gokongweisโ€™ banking units: Robinsons Bank Corp. (formerly The Royal Bank of Scotland (Philippines) and Robinsons Savings Bank Corp., the surviving entity.

Source: http://business.inquirer.net/3184/jg-summit-to-consolidate-subsidiaries

With new golf courses springing up in and around Clark Philippines and an ever-increasing patronage by tourists from neighboring South Korea, Clark Freeport is short on hotel accommodation.

Even with the addition of 27 holes in 2009 and 2010, there is an acute shortage golf tee times for at least 5-6 months each year. Local players compete with frustrated (golf) tourists from Korea and China for tee times. Unfortunately Clark Philippines doesnโ€™t have the luxury of vast tracts of land suitable for this type of development.

Mimosa offers 36 holes of championship golf, visitors can pay and play, busy during the weekends but not that difficult to get on or join up with a group to form a 4-ball. The new FAKCC offers 27 holes of world-class golf.

This web site contains articles and information that will be helpful to visitors, residents and tourists traveling out of town from Manila on a short getaway to Subic, Angeles City, Pampanga and Clark Philippines. There are several web sites that contain information that might also be pertinent to what is happening in North Luzon.

For assistance with organizing and planning weddings and garden receptions, log on to http://www.PhilippinesWeddingVenue.com

For assistance with lodgings, accommodations, hotels and resorts near Manila in Subic, Pampanga, Angels City and Clark Philippines log on to http://www.HotelClarkPhilippines.com

While in Clark, one might as well add to the itinerary a visit to the famous Clark Wine Center, the largest wine shop in Philippines which offers over 2000 selections of fine vintage wine from all wine regions, vintages spanning over 50 years covering all price ranges.

http://www.ClarkWineCenter.com

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