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ANCHOR Land Holdings Inc. on Thursday disclosed it has acquired 100
percent of the outstanding capital stock of Gotamco Investment
Realty Corp.
Gotamco Investment owns five parcels of land
with a total area of 3,065.70 square meters more or less, all
located at Ongpin Street in Binondo, which is considered the
capital’s Chinatown.
No further details were given about the
acquisition.
With the acquisition, the Philippine Stock
Exchange suspended the trading of all Anchor Land shares effective
January 10, pending disclosure by the company of the complete terms
and conditions.
The firm’s current projects are the 33-story
Mayfair Tower along UN Avenue and the 39-story Mandarin Square in
Binondo.
Steve Li, Anchor Land vice-chairman, had
projected that the company’s profit would almost triple to P160
million last year, as the two projects would contribute P900 million
in sales by yearend.
-- Darwin G. Amojelar
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