P20 BILLION CEBU RECLAMATION PROJECT UP

A PHP20-billion reclamation project in Minglanilla, Cebu is up soon that involves a 100-hectare Minglanilla Techno-Business Park with the signing of an agreement among Mayor Elanito Peña PRA by general manager and CEO, lawyer Janilo Rubiato and listed Cebu Landmasters Inc (CLI).

CLI will be the developer and manager of the 100-hectare technohub envisioned to be a regional growth center dubbed Ming-Mori project which was earlier issued an Environmental Compliance Certificate (ECC) after more than five years of a rigid and comprehensive review.

Early this year, the Cebu-based company secured PHP3 billion through the issuance of corporate notes at a very competitive rate to fund early works for Ming-Mori beginning in the fourth quarter in 2021.

CLI has also strengthened its capital base by declaring 123 percent stock dividends to shareholders on record as of June 18, which will be paid on or before July 14.

This move prepares the firm for any capital raising in the future.

The estate’s proximity to Cebu City makes it a highly viable location for light manufacturing industries especially now that the province’s main industrial parks are fully occupied.

Ming-Mori will also have its own port facilities to link it with the global economy.

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