[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.27.4″ custom_padding=”10px||||false|false” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”4.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]<\/p>\n
Manila, Philippines \u2013 22 June 2021 \u2013 Despite the challenges from the global CoVid-19 pandemic, Abacore\u2019s wholly-owned subsidiary, Philippine Regional Investment Development Corporation (PRIDE) is expecting even bigger growth considering the move of logistics, energy, and tourism-based companies to the Province of Batangas.<\/p>\n
PRIDE, through its wholly owned subsidiaries, Adroit Realty Corporation (Adroit), and San Isidro Catholic Memorial Park Development Corporation (San Isidro) are completing sales worth at least958 million gross in the first half of 2021. These properties are part of the previously disclosed ABACORE Energy Hub project in Simlong, Batangas.<\/span><\/p>\n Adroit and San Isidro are transacting its Batangas sea front properties located along the Batangas Bay, Batangas City. Upon consummation, PRIDE and affiliates expects Adroit and San Isidro to generate 728 million pesos of net profit to PRIDE and its affiliate\u2019s bottom line, in additionto booked income of P100M in the sale of marketable securities.<\/span><\/p>\n PRIDE is likewise expected to book profit from the partnership with SquidPay Technologies in the conversion and operation of its PhilStar Development Bank into a Digital Bank based in Province of Batangas.<\/span><\/p>\n With the current Build, Build, Build program of the current administration, Batangas has seen a growth spur in industrial and tourism based industries. This has led to locators investing in Batangas real properties in anticipation of capital gain considering the relative value properties in Batangas have over its Metro Manila counterparts.<\/span><\/p>\n ABACORE, PRIDE and all its affiliates are in the best position to strategically take advantage of the opportunities presented with the development and growth of the Province of Batangas as the next Metro hub in the CALABARZON area.<\/span><\/p>\n About Abacore Capital Holdings, Inc.<\/strong><\/p>\n AbaCore Capital Holdings, Inc. is a holding company whose shares are listed and traded in the Philippine Stock Exchange (trading symbol: ABA).<\/span><\/p>\n AbaCore Capital Holdings, Inc. was incorporated in 1981 as Piedra Negra Mining Corporation, a coal mining company, and publicly listed its shares on October 28, 1987.<\/span><\/p>\n In 1993 AbaCore Capital Holdings, Inc. expanded into the leasing of gaming equipment and formed Pacific Online Systems Corporation together with two other partners. On June 26, 2005 AbaCore Capital Holdings, Inc. completed the acquisition of its real estate and financial services businesses through the acquisition of Philippine Regional Investment Development corporation via a stock swap.<\/span><\/p>\n At present, AbaCore Capital Holdings, Inc. has interests in the leasing of gaming equipment, gold and coal mining, real estate and financial services. Philippine Regional Investment Development Corporation (PRIDE) is a duly licensed investment house and a member of the Investment House Association of the Philippines (IHAP) and currently has an authorized capital stock of 1 billion pesos and an asset base of P2.5 billion pesos. PRIDE\u2019s thrust is to develop projects that uplift the Philippine countryside.<\/span><\/p>\n THIS PRESS RELEASE MAY CONTAIN SOME STATEMENTS WHICH CONSTITUTE \u201cFORWARD-LOOKING STATEMENTS\u201d that are subject to risks and opportunities that could affect Abacore, and Abacore\u2019s subsidiaries business and results of operations. Although Abacore believes that expectations reflected in any forward-looking statements are reasonable, it can give no guarantee of future performance, action or events. The matters contained in this press release have been presented, discussed, and duly noted in the most recent Abacore Capital Holdings, Inc. and Philippine Regional Investment Development Corporation Regular Board Meeting.<\/em><\/p>\n \n