The Securities and Exchange Commission (SEC) has approved Sinophil Corp.’s petition to change its corporate name following the company’s reorganization as the gaming investment firm of the Henry Sy family.
In a statement, Sinophil said the SEC approved the name change on September 9, from Sinophil Corp to Premium Leisure Corp. The name change will get the firm a new trading symbol.
Besides the change in its corporate name, SEC also approved the reduction in Sinophil’s shares value — to 25 centavos per share from the current P1 per share.
This is in line with the company’s reorganization, which turns the firm into a gaming subsidiary of Sy-led Belle Corp., and where all of Belle’s casino and entertainment assets will be poured into Sinophil.
Belle, in turn, will hold the property assets where the entertainment businesses are located.
On June 2, Sinophil’s board of directors agreed to turn the company into a “gaming vehicle” of Belle, which is an affiliate of the SM group of companies.
Belle’s gaming assets that went to Sinophil consist of 100 percent stake in Premium Leisure Amusements Inc., and 34.5 percent interest in Pacific Online Systems Corp.
Sinophil was incorporated on November 26, 1993 as an oil and gas exploration and development company, which changed into an investment holding firm in 1997.
Sinophil has investments in Metro Manila Turf Club Inc., Belle Bay City Corp., Foundation Capital Resources Inc., and Sinophil Leisure and Resorts Corp.