MASS housing developer 8990 Holdings Inc. is trimming its receivables by P2 billion through an agreement entered into with listed Security Bank Corp.
In a statement, 8990 Holdings president and CEO Januario Jesus Atencio 3rd said the company signed a memorandum of agreement (MOA) with Security Bank for the purchase of its in-house contract to sell (CTS) receivables worth P2 billion on a non-recourse basis.
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