AAA News
AAA ( 09/13/1995 : MT )
The Energy Corp. will raise P60 M through a private
placement of shares to acquire a real estate property in Montal-
ban, Rizal. TEC will sell 5 B shares out of the unissued portion
of its authorized capital stock at P.012/share. Proceeds will
also be used for the acquisition of a condominium unit and a
parking slot amounting to P5.22 M located at the PSE Center,
which is now the co.'s new business office. Other proceeds will
be used to finance working capital requirements, acquisition of
property & equipment, and to pay off loans obtained from the
Nat'l. Dev't. Co. The loan carries an interest rate of 18% p/a
or 5% over the cost of funds of NDC, whichever is higher. The
note is collateralized by a pledge of shares of stock of Semirara
Coal Corp. with a total par value of P5 M.
AAA ( 09/26/1995 : PSE )
The BOD of The Energy Corp. authorized the investment
by TEC in Unikleen International Corp., a wholly-owned subsidiary
in the process of incorporation subject to the approval by SEC of
the change in primary purpose of TEC from an energy exploration
to a holding company.
The BOD also approved a call on all unpaid subscriptions of TEC
and requiring payment thereof not later than October 15, 1995.
AAA ( 10/09/1995 : BW - p18 )
Please be advised that at a special meeting of the BOD
of The Energy Corporation, held on Sept. 22, 1995, the following
resolutions were unanimously approved:
"Resolved, that the BOD call, as it hereby does, for the full
payment of the balance of all the subscriptions to the corpora-
tions capital stock, payable in full not later than Oct. 15, 1995,
and in the event said susbscriptions are not fully paid on or
before November 15, 1995 under such terms and conditions as may
be determined by the BOD."
"Resolved further, that the Treasurer or her authorized represen-
tative be, as they are hereby, authorized to receive the payments
for the unpaid subscriptions."
AAA ( 10/13/1995 : PSE )
The SEC approved the shift of the business thrust of The Energy
Corporation from energy exploration to that of a holding company
& its change in corporate name to Asia Amalgamated Holdings Corp.
The company will also change its trading symbol from "TEC" to
"AAHC".
It has also changed its annual stockholders' meeting to any day in
May and its principal office from Makati, Rizal to Metropolitan
Manila.
AAA ( 10/18/1995 : PSE )
The trading symbol of Asia Amalgamated Holdings Corp.
(formerly THe Energy Corporation) is "AAH" and not "AAHC" as
previously disclosed.
AAA ( 11/27/1995 : PSE )
Asia Amalgamated Holdings Corp. has filed with SEC a
Petition for Licensing of 5,000,000,000 shares divided into
3,500,000,000 class "A" common shares and 1,500,000,000 class
"B" common shares out of the unissued portion of the corp.'s
authorized capital stock. Such shares are being offered through
a private placement.
AAA ( 12/21/1995 : PSE )
The board of Asia Amalgamated Holdings Corp., resolved
on December 8, 1995 to subscribe to 50,000 shares of capital
stock of ESBI Insurance Brokers, Inc., an entity in the process
of incorporation and which shall be a wholly-owned subsidiary
of AAHC.
ESBI Insurance Brokers, Inc. will have a par value of P100 each
share for a total paid-up subscription of P5,000,000 out of an
authorized capital stock of P5,000,000.
AAA ( 02/14/1996 : PSE )
The board of directors of Asia Amalgamated Holdings Corp.
at a special meeting held on February 9, 1996 elected Ms. Carolyn
Gow-Yap as director to replace Mr. Bonifacio Chua who resigned
effective as of said date, and shall serve as such for the re-
mainder of the latter's term and until her successor shall have
been duly elected and qualified.
AAA ( 02/21/1996 : PSE )
The Bangko Sentral approved the application of Ecology Savings
Bank, a wholly-owned subsidiary of Asia Amalgamated Holdings
Corp. for a license to operate as a Savings Bank.
AAA ( 02/23/1996 : MT )
Asia Amalgamated Holdings Corp. informed the Securities
and Exchange Commission that its wholly-owned subsidiary Ecology
Savings Bank has been granted a license to operate as a savings
bank by the Bangko Sentral ng Pilipinas.
AAA ( 03/19/1996 : PSE )
The Monetary Board of the Bangko Sentral ng Pilipinas
approved in principle the application of Asia Amalgamated Hol-
dings Corp. for authority to establish a thrift bank to be known
as "Ecology Savings Bank", a wholly-owned subsidiary of AAH.
The incorporation papers of Ecology Savings Bank are now with the
Securities and Exchange Commission awaiting the latter's
approval.
AAA ( 04/23/1996 : PSE )
Mr. Jimmy N. Gow of Libis, Quezon City outbid another
bidder for the purchase of a total of 82,430,000 delinquent
shares of Asia Amalgamated Holdings Corp. during the company's
public auction of its delinquent stock on April 18, 1996.
AAA ( 04/29/1996 : PSE )
The Board of Directors of Asia Amalgated Holdings Corp.,
in a meeting on April 25, 1996, approved on the ff. matters:
1. The investment by AAHC in Marilag Transport Systems, Inc.
up to a maximum amount of P115 M.
2. The increase in authorized capital stock of AAHC from
P200 M to P800 M divided into 80 B shares of common stock
at par value of P0.01 per share.
3. A stock rights offering to all stockholders of record as of
a record date still to be determined for a total of 60 B new
shares of common stock at a par value of P0.01 per share.
Each stockholder may subscribe to 3 common shares for every
1 share held.
4. The declassification of shares into one common stock.
AAA ( 04/29/1996 : PSE )
The board of directors of Asia Amalgamated Holdings,
Corp. on April 25, 1996, approved the stock rights offering to
stockholders of record still to be determined at a par value
price of P0.01 per share. Each stockholder may subscribe to 3
common shares for every 1 share held.
AAA ( 04/30/1996 : MT )
Asia Amalgamated Holdings Corp. will invest P115 M in
its new wholly-owned subsidiary Marilag Transport Systems Inc.
The funds will come from its stock rights offering at a ratio of
three shares for every one share held at a par value of P0.01 per
share. The company is also increasing its authorized capital
stock from P200 M to P800 M.
AAA ( 05/01/1996 : PDI - pB7 )
Asia Amalgamated Holdings Corp. is shoring up its capi-
tal base with its plan to raise P600 M from a rights offering
this year. The AAH board approved a plan to jack up its capital
base from P200 M to P800 M in line with its plan to diversify
into water transport and banking. AAH will issue 60 B shares at
a par value of one centavo each. The AAH share will also be de-
classified. The proceeds of the offering will be used to finance
AAH's investment in Ecology Savings Bank, Marilag Transport Sys-
tems Inc. and Unikeen International Inc. The P1 B Ecology Sa-
vings Bank is the GOW family's initial venture into banking which
obtained approval from Bangko Sentral ng Pilipinas. AAH is also
pumping in P115 M for its water transport business through a new-
ly formed, wholly owned subsidiary--Manila Transport Systems Inc.
AAA ( 05/23/1996 : PSE )
Devi Katerina S. Martinez-Negre of Fortun & Narvasa Law
Offices disclosed that on May 17, 1996 Unikleen International
Corp., a fully owned subsidiary of Asia Amalgamated Holdings
Corp., entered into a contract with Alenco International, Inc., a
corporation organized and existing under the Florida State laws,
United States of America, for the supply of water and wastewater
treatment system for UIC's clients in the Philippines. UIC was
likewise appointed by AII to exclusively handle the sales, ser-
vices and promotions of AII's technology relating to water and
wastewater system.
AAA ( 05/24/1996 : MT )
Unikleen International Corp. (UIC), a wholly-owned
subsidiary of Asia Amalgamated Holdings Corp. has forged a con-
tract with US-based Alenco International Inc. (AII) for the water
supply and waste water treatment system for UIC's clients in the
Philippines. AII is the exclusive sales and service operator of
the water and wastewater system.
AAA ( 05/24/1996 : TBD - p12 )
Asia Amalgamated Holdings has joined a group of investors
led by the Gow family of Uniwide Holdings Inc. to put up a com-
mercial bank called Ecology Savings Bank Inc. Based on the arti-
cles of incorporation filed at the SEC, the newly formed Ecology
Savings Bank has an authorized capital stock of P1 B divided into
10 M common shares with a par value of P100 each.
The banks's other subscribers are Jimmy N. Gow, Cherrie V. Gow,
Jaime I. Cabangis, Ramon T. Militar, Antonio M. Lecaros. These
subscribers hold one share each equivalent to P100.
AAA ( 05/31/1996 : PSE )
At the regular stockholders' meeting of Asia Amalgama-
ted Holdings Corporation held yesterday afternoon, the following
matters were approved:
1. The increase in authorized capital stock of the Corporation
from P200 M to P800 M divided into 80 B shares with a par
value of P0.01.
2. The declassification of Class "A" and Class "B" shares of the
corporation in order that the corporation will have only one
class of Common Stock.
3. The amendment of the 7th Article of the Amended Articles of
Incorporation to reflect the foregoing changes.
4. A stock rights offering to all stockholders of
record date to be set by the PSE Listing Committee for a total
of 60 B new shares of common stock at a par value of P0.01 per
share. Under the Stock Rights Offering, each stockholder
shall be entitled to subscribe to 3 shares of Common Stock for
every 1 share held as of record date.
AAA ( 06/04/1996 : PSE )
Asia Amalgamated Holdings Corp.'s stock trading symbol
will be changed from "AAH" to "AAA", effective June 6, 1996.
AAA ( 06/06/1996 : PSE )
Asia Amalgamated Holdings Corp. informs that the SEC
has approved the registration of Ecology Savings Bank Inc.'s Ar-
ticles of Incorporation and By-laws on May 30, 1996. The bank
is a wholly-owned subsidiary of AAA.
AAA ( 06/20/1996 : PDI - pB1 )
Asia Amalgamated Holdings Corp, a publicly listed
company controlled by the Gow family of the Uniwide Sales group,
will open its Ecology Bank with the first branch on E. Rodriguez
Avenue in Quezon City. Organized as a savings and mortgage bank
with an authorized capital of P1 B, Ecology Bank will cater
largely to clients, customers and suppliers of the Uniwide group.
Incorporators of the new bank are Jimmy N. Gow, chair; Ramon
Militar, president, and Cherry Gow, Jaime Cabangis and Antonio
M. Lecaros, directors.
AAA ( 06/24/1996 : PDI - pB8 )
Ecology Bank was recently granted an authority to
operate by the Bangko Sentral. With an authorized capital of
P1 B, Ecology Bank is expected to have a major impact in the
banking industry. The bank is a subsidiary of Asia Amalgamated
Holdings Corp. Ecology Bank president Ramon Militar said the
bank will start operation next month, with the first office to
be opened at the Uniwide Warehouse Club in Libis, Quezon City.
AAA ( 07/08/1996 : BW - p9 )
Asia Amalgamated Holdings Corp., the other holding co.
of the Gow family, will retain its current operations in the fi-
nancial and construction sector even as its sister co. Uniwide
Holdings, Inc. will be listed soon in the stock market. "There
are no plans to merge them," said Jaime Cabangis, director &
chief financial officer of UHI. AAA's shares in the market at-
tracted pockets of buying interest last month as market rumors
abound that it will be consolidated with UHI. "Uniwide is more on
the franchising and realty business, where as AAA is more on the
synergistic business...(supporting) the core business of Uniwide,"
Cabangis said. AAA has just started operating its wholly owned
thrift bank Ecology Savings Bank last July 23.
AAA ( 08/09/1996 : PSE )
Asia Amalgamated Holdings Corp. informs that the Secu-
rities and Exchange Commission approved the registration of the
Articles of Incorporation and By-Laws of Marilag Transport Sys-
tems, Inc. on August 7, 1996. Marilag Transport is a wholly-owned
subsidiary of the Corporation and will operate a ferry system
along the Pasig River.
AAA ( 08/26/1996 : PSE )
Asia Amalgamated Holdings Corp. has replied to the Ex-
change's inquiry regarding the unusual movement in the trading of
its shares on August 21, 1996.
"The corporation is unaware of any material information which
could account for such "unusual" movement in the trading of its
shares. If at all, the fact that Uniwide Holdings, Inc. and the
Corporation are both known to be affiliated companies could per-
haps explain the same. The public's perception of the prospects
offered by both corporations can presumably account for this event
such that any movement in one entity can affect the other."
AAA ( 09/20/1996 : PSE )
Asia Amalgamated Holdings Corp. informs that its Board
of Directors, at a special meeting on Sept. 19, 1996, approved
the creation by the company of 2 wholly-owned subsidiaries which
will engage in the real estate business, and in the construction
business. Each company will have an authorized capital stock of
P100 M and the initial paid-up subscriptions of the company to
each entity shall be 6.25 M.
AAA ( 10/22/1996 : PDI - pB3 )
Asia Amalgamated Holdings Corp. which proposes to run a
ferry service along the Pasig River, wants the gov't. to clarify
whether or not an exclusive license has been awarded for the ser-
vice. The firm hopes to start the P970 M but it has been encoun-
tering problems in securing the necessary documents for the pro-
ject because a rival firm, Starcraft Corp., claims an exclusive
right over the operation of the ferry service along Pasig River.
Marilag Transport Systems, a subsidiary of AAA, yesterday said
that the Presidential Management Staff assured that the govern-
ment will not issue an exclusive license for the ferry service
following Malacanang's policy of a level playing field. Based
on the policy, Marilag Transport was given approval by the PMS
to start the project.
AAA ( 10/23/1996 : TBD - pS1 )
The battle for the right to operate passenger ferry ser-
vices along the Pasig River has started to heat up, as business-
man Eduardo R. Manuel has accused Marilag Transport System Inc.
of "snatching" the project from his co., Starcraft Corp. MTSI, a
subsidiary of Asia Amalgamated Holdings Inc. is a new ferry co.
owned by retail industry giant Jimmy N. Gow of the Uniwide group.
Manuel alleged that from the onset, Starcraft and Gow's group tried
to forge a joint venture, with the former operating the ferry ser-
vice and the latter operating commercial shopping terminals as pa-
rallel projects for the ferry operations. Manuel said Paul Kila-
la, special projects manager of AAA even told Pres. Fidel V. Ramos
that the setting up of commercial terminals will subsidize the
operation of the ferry service. Manuel said Gow requested Pres.
Ramos to disallow any other ferry firm to operate the Pasig River
route to allow Starcraft and AAA to recover their investments.
AAA ( 11/07/1996 : PSE )
Asia Amalgamated Holdings Corp. informs that the corpo-
ration will be filing with the SEC the Registration Statement for
the Stock Rights Offering of the Corporation for 60 B shares with
an issue value of P0.01 per share or a total offering of P600 M
which shall be taken from the increase in the authorized capital
stock from P200 M to P800 M.
AAA ( 11/08/1996 : PDI - pB2 )
Asia Amalgamated Holdings Corp., the investment arm of
Uniwide Holdings chair Jimmy Gow, is raising P600M through a
rights offering. Proceeds will bankroll its banking, shipping,
and water filtration concerns. AAA will issue 60B shares at a
par value of one centavo each. Each shareholder can buy three
common shares for every one share held. The rights offer will
cover AAA's increase in capital from P200M to P800M. Its stocks
inched up .25 centavos for "A" shares and unchanged at 7.5 for
"B" shares. AAA has already put up Ecology Savings Bank , its
banking arm, which is now planning to open eight branches before
the year ends. Its water treatment subsidiary, Unikleen Interna-
tional Corp., hooked up with Florida-based Alenco International
Inc. for the supply and distribution of wastewater treatment sys-
tems. It is also the majority owner of Marilag Transport Systems
Inc. which will operate a ferry boat project in Metro Manila.
AAA ( 11/11/1996 : PDI - pB10 )
Asia Amalgamated Holdings Corp. expects its assets to
grow by more than 3-fold next year as it firms up its business in-
terests in banking, environmental protection and water ferry while
diversifying into property development. A source said assets of
Asia Amalgamated were forecast to balloon to P7 B next year. Pro-
fits are also expected to hit P75 M in 1997 year from P8 M in
1996. The bulk of the rise in assets and income will come from
AAA's banking arm, Ecology Savings Bank, which will step up its
operations by expanding its network to 30 branches next year.
AAA is currently discussing with foreign banks to establish a loan
facility to make wastewater treatment facilities a viable option
to manufacturers. AAA is also readying its water ferry project
through Marilag Transport Systems Inc. which was granted incen-
tives by the Board of Investments as a new operator in inter-
island shipping.
AAA ( 11/13/1996 : TBD - p1 )
Marilag Transport Systems Inc., a wholly- owned subsi-
diary of Asia Amalgamated Holdings Corp. of businessman Jimmy Gow,
has withdrawn from the Pasig River ferry service project. This
developed after the Maritime Industry Authority refused to give
MTSI a clearance to operate. Maritime authorities cited as basis
of its decision Section 911 of the Tariff and Customs Code which
prohibited foreign-made vessels from entering any of the country's
inland bays and rivers. MTSI initially set aside almost P1 B for
the 1st phase of its Pasig River ferry project. Other sites being
eyed for the project are the Manila Bay and the coastal towns of
Marikina, Cavite, Laguna and Rizal. MTSI pres. Jaime Cabangis
said the co. would now focus on the proposed Phase III of the pro-
ject covering the Manila Bay-Cavite route as an alternative.
Based on original plans, the Pasig River service will link Pasig,
Marikina and Escolta.
MTSI has already purchase 6 fully air-conditioned ferry
boats for its initial operations. The 1st vessel, MV Magiting, is
now docked at Pasig River while another one, MV Marangal, is ex-
pected to be delivered this week from Taiwan. Four other boats
had already been ordered from the US.
AAA ( 11/18/1996 : TBD - p8 )
Asia Amalgamated Holdings Corp. and three other com-
panies under it were formally inaugurated in elaborate ceremonies
held recently at the Rizal Ballroom of Shangri-La, Makati. All 4
companies, AAA, Ecology bank, Unikleen International and Marilag
Transport Systems Inc. are member companies of Uniwide Sales Group
of Companies owned and managed by the Gow family. The group is
headed by its chair Jimmy Gow. AAA is currently on an aggressive
diversification binge in the financial, environmental and public
transport services. Ecology Bank, started operations in July 1996
and is projected to start commercial banking operations by the
year 2001. Unikleen, another co. under AAA, is engaged in the in-
stallation and project financing of clean water and wastewater
treatment facilities and marketing of water filters.
The third company under AAA is Marilag Transport System
Inc. which will undertake a ferry boat project as well as the
construction of terminals which will house commercial establish-
ments and Uniwide's 24 hour convenience store. The company has
already obtained approval from the Board of Investment as pioneer
enterprise/new operator of inter-island shipping.
AAA ( 11/28/1996 : BW - p21 )
Property developer Asian Appraisal Holdings, Inc. is
building a new 21-storey office building in the Filinvest Corpo-
rate City in Alabang, Muntinlupa City, to take advantage of a pos-
sible demand for office space outside central business districts
of Makati and Ortigas. Called the Asian Star, the building's
groundbreaking ceremony was held last Nov. 7, and is expected to
be finished by early 1998. AAA is betting the time is right to
build a high-rise office building in Alabang. "AAA is taking the
lead and envisions itself as the first developer of prime buil-
ding in Alabang area," said Benjamin Bitanga, AAA chairman.
AAA ( 01/30/1997 : MLY - p10 )
Asia Amalgamated Holdings, Inc. A shares rose by P0.50
or 9%, to six centavos on a newspaper report that its Ecology
Savings Bank unit forecast good earnings for 1996, brokers said.
"The reason why it's up is that Ecology Savings bank seems to be
doing well," said Joey Roxas, president at Eagle Sec. A news-
paper report quoted Ecology Savings president Ramon Militar as
saying he expected a P12 M net income for the bank in 1996. He
said the bank received P700 M in deposits in the first 6 months
of its operational last year. A total of 21.8 M shares changed
hands late in the session.
AAA ( 02/10/1997 : PDI - pB11 )
Asian Appraisal Holdings, Inc. a leading property deve-
loper, has launched the Asian Star Building project, reputed to
be the most modern office tower in the Philippines when completed.
The P1-B, 21-storey office-condominium building will be construc-
ted at the Filinvest Corporate City in Alabang, Muntinlupa City.
It will rise on 2 contiguous lots - a block away from the main
commercial development of Filinvest Corporate City. The building
is targeted to be completed by early 1998. The tower will be
the first office building at the FCC and one of its kind in the
Philippines, according to AAHI founder Benjamin M. Bitanga. He
said the building will be built by a team of world-renowned engi-
neering and construction firms and designed by leading architects.
AAA ( 04/14/1997 : BW - p26 )
Marilag Transport Systems, Inc., a subsidiary of Asia
Amalgamated Holdings Corp., will start plying Manila Bay tomorrow
for its Manila-Cavite-Manila route via 2 ferries. AAA president
Jimmy Cabangis said the alternative water transport system which
will use two 60 seater foreign vessels is expected to decongest
the traffic to and from Cavite. At least 8,000 commuters travel
the Manila-Cavite route everyday, said Paul Kilala, AAA business
development manager. MTSI will use 2 Catamaran type vessels,
M/V Marangal and M/V Magiting.
AAA ( 04/17/1997 : PSE )
At a special meeting of the Board of Directors of Asia
Amalgamated Holdings Corp. held on April 15, 1997, the following
matters were approved:
1. The incorporation of a wholly-owned subsidiary to be named
"ESBI Leasing Corp." which will engage in the business of a
finance company with an authorized capital stock of P100 M and
a paid up capital stock of P10 M.
2. Amendment of Article 7th of the Amended Articles of Incorpora-
tion of the corporation to change the par value from P0.01 per
share to P1.00 in order to comply with the requirement of the
PSE.
AAA ( 05/16/1997 : PSE )
Asia Amalgamated Holdings Corp., only in its third quarter
of commercial operations, continues to reap modest profits mainly
from its financial services venture through its wholly-owned
subsidiary, the Ecology Savings Bank, Inc. the company posted a
consolidated net income of P3 M for the first quarter ended
March 31, 1997, representing a 188% increase in the company's
consolidated retained earnings over 1996 year end balance of
P1.6 M.
AAA ( 06/27/1997 : BW - p8 )
The Securities and Exchange Commission has given the go-
signal for a P600 M preemptive rights offering of holding firm
Asia Amalgamated Holdings Corp. The offering will be used by
a company to raise the required paid-up capital for an increase
in authorized capital stock to P800 M from P200 M. Its existing
authorized capital stock of P140 M class "A" and P60 M class "B"
shares is already fully subscribed, thus, the offering of additional
shares.
AAA ( 06/27/1997 : TBD - p1 )
The Securities and Exchange Commission has approved the
pre-emptive rights offering of Asia Amalgamated Holdings Corp. for 60
B new shares of common stock to raise the firm's authorized capital to
P800 M. Last May, the company's stockholders approved the increase
in the authorized capital stock from P200 M to P800 M. In the same
meeting, the declassification of the co.'s Class A and B shares into
one class of common stock was also approved. The Philippine Stock
Exchange will determine the cut-off date for stockholders of record
who will be given access to the stock rights offering. The new
shares will be sold at a par value of P0.01. Each stockholder of
record will be given an option to subscribe to 3 shares of common
stock for every one share held. Net proceeds from the stock rights
offering will be approximately P600 M.
The proceeds will be used to finance additional working capital and
additional equity infusion in the co.'s 3 subsidiaries. Ecology Bank, one
of the co.'s subsidiaries will receive bulk of the proceeds to finance
the repayment of stockholders' advances in the bank which amounted
to P400 M. Unikleen International Corp. will receive P75 M to finance
the development of its water distribution, waste water treatment and
bottled water projects and also for working capital purposes. Marilag
Transport Systems Inc. will also receive P75 M to partially finance the
co.'s water transport business to service the areas of Cavite and
Luzon in the latter part of 1997.
AAA ( 08/14/1997 : PSE )
Further to Stock Rights Notice No. 20 dated April 29, 1997, Asia
Amalgamated Holdings Corp. informed the Exchange that its 3:1
pre-emptive rights offering has been set on Sept. 3, 1997. The details
are as follows:
Ratio: 3 new common shares for every 1 common share held
Offer shares: 60,000,000,000 new unclassified common shares to
come from pending increase in the company's authorized capital stock
from P200 M to P800 M
Offer price: P0.01 per share
Record date: Sept. 3, 1997
Ex-date: Aug. 25,1997
Offer period: start of offer - Sept. 10, 1997
: end of offer - Sept. 16, 1997
Payment Terms: Full payment upon subscription
Lead Underwriter: BPI Capital Corp.
Stock transfer agent: Union Bank of the Philippines
AAA ( 08/15/1997 : PSE )
Further to Stock Rights Notice No.39 dated Aug. 14, 1997, Asia
Amalgamated Holdings Inc. informed the Exchange that the ex-date of
its 3:1 pre-emptive rights offering has been adjusted from Aug.
25, 1997 to Aug. 28, 1997. The ex-date has been adjusted due to the
company's eligibility for "book entry settlement" with its first scripless
trading scheduled on Aug. 18, 1997 per Circular No. 160 dated Aug.
14,1997.
AAA ( 08/18/1997 : BW - p18 )
Asia Amalgamated Holding Corp. is set to offer 60 B shares next
month in a bid to raise some P600 M. The 60 B new unclassified
common shares, to be sold at P0.01 per share, will be derived from
a pending hike in authorized capital stock to P800 M from P200 M.
An estimated P592.4 M is expected to be raised from the 3:1 pre-
emptive rights offering which is scheduled from September 10 to 16.
Part of the proceeds will be used to repay stockholder' advances
amounting to P429.4 M. The money was used as initial investments
worth P367 M in Ecology Savings Bank, Inc., Unikleen International
Corp., Marilag Transport Systems, Inc. and ESBI-Insurance Brokers,
Inc. and as working capital worth P62.4 M. The remaining P163 M
to be generated is earmarked for additional equity infusion in the
thrift bank (P117 M) and in MTSI (P43.5 M) and as additional working
capital (P2.5M).
AAA ( 08/21/1997 : PSE )
Asia Amalgamated Holdings Corp. advised the Exchange that it
was unaware of any information that may affect the value & trading of
AAA's securities. This was in response to the letter sent by the
Exchange requesting AAA to explain the reason behind the unusual
movement in the trading of its Class A shares & caused the share price
to decrease by 40% from P0.04 to P0.024 per share.
AAA ( 08/25/1997 : PSE )
Asia Amalgamated Holdings Corp. advised the Exchange that it was
unaware of any material information which may have affected the
alleged "unusual movement in the trading of its Class A & B shares &
caused the share price to decrease by 38.23% from P0.034 to P0.021
per class A share & 37.93% from P0.029 to P0.018 per Class B share.
AAA ( 08/29/1997 : PSE )
Asia Amalgamated Holdings Corp. informs that Unikleen
International Corporation, a fully owned subsidiary of AAA entered
into an Industrial Wastewater Treatment Construction Contract with
Philippine Electrical Manufacturing Co. and Uniwide Sales, Inc.
on August 28, 1997.
AAA ( 09/01/1997 : PSE )
Asia Amalgamated Holdings Corp. informed the Exchange that it was
not aware of any material information which may have affected the
alleged "unusual movement in trading of its Class "B" shares" &
caused the share price to increase by 45.5% from P0.011 to P0.016
per share.
AAA ( 09/04/1997 : PSE )
Asia Amalgamated Holdings Corp. informed the Exchange that it was
not aware of any material information which may have affected the
alleged "unusual movement in the trading of its shares & caused the
share price to decrease by 40% from P0.02 to P0.012 per share.
AAA ( 10/13/1997 : PSE )
In response to the Exchange's letter requiring Asia Amalgamated
Holdings Corp. to disclose any material information which may have
affected the alleged "unusual movement in the trading of (its) shares &
caused the share price to decrease by 50% from P0.006 to P0.009 per
share, AAA informed the Exchange that it was "unaware of any such
information that may affect the value & trading of AAA's securities."
AAA ( 10/16/1997 : PSE )
Asia Amalgamated Holdings Corp. informed the Exchange that it was
unaware of any material information which may have affected the
alleged "unusual movement in the trading of (its) Class B shares" and
caused the share price to increase by 44.44% from P0.009 to P0.013
per share.
AAA ( 10/30/1997 : PSE )
Asia Amalgamated Holdings Corp.through its legal counsel & in a letter
dated Oct. 24, 1997, informed the Exchange that on Oct. 21, 1997, the
Securities & Exchange Commission approved the amendment in
Article VII of the Articles of Incorporation of the company, thereby
increasing its authorized capital stock from P200,000,000 to
P800,000,000 & declassifying the common stock A & B to one class
of common shares. The declassification of its Class A & Class B to
one class of common shares. The declassification of its Class A &
Class B to one class of common shares will be reflected in the
Exchange's computer system on Wednesday, Nov. 5, 1997.
AAA ( 01/07/1998 : PSE )
Asia Amalgamated Holdings Corp. informed the Exchange through a
letter by its legal counsel dated Dec. 23, 1997 that the Securities &
Exchange Commission approved on Oct. 21, 1997 the company's
increase in par value from P0.01 to P1. The change in par value will
be reflected in the Exchange's database (electronic board & ticker) on
January 9, 1998.
AAA ( 03/18/1998 : PSE )
Asia Amalgamated Holdings Corp. informs that the Exchange approved
its application to list additional 60,000,000,000 common shares, with a par
value of P0.01 per share, to cover the company's 3:1 pre-emptive rights
offering to stockholders of record as of September 3, 1997, at an offer
price of P0.01 per share. Further to company notice #16 dated January
7, 1998, the par value of the company has increased from P0.01 to P1.00
per share. Thus, the number of shares for listing is adjusted from
60,000,000,000 common shares to 600,000,000 common shares to
reflect the new par value. The listing of the 600,000,000 common shares
is set for Thursday, March 26, 1998.
AAA ( 09/01/1998 : PSE )
Asia Amalgamated Holdings Corporation informs that they are not
aware of any material information which may have affected the
decrease in its share price by 39.13% from P0.6900 to P0.4200 per
share on August 31, 1998.
AAA ( 10/20/1998 : AFX )
Asia Amalgamated Holdings Corp said it plans to enter into a
memorandum of agreement with Equitable Banking Corp, giving the
latter the right of first refusal should Asia Amalgamated decide to sell
its stake in Ecology Bank. In a report to the Securities and Exchange
Commission, Asia Amalgamated said the proposed MOA is one of the
issues to be taken up in its forthcoming shareholders' meeting. It did
not give any other details. Equitable Bank earlier said it is seeking to
acquire local banks to expand its network.
AAA ( 11/09/1998 : PSE )
During the annual stockholders' meeting of Asia Amalgamated
Holdings Corp. held on November 6, 1998, the following matters were
acted upon:
1. Approval of the recommendation of management to amend the 6th
Article of the Articles of Incorporation of the registrant to increase the
number of the members of the board of directors from 5 to 7 in order
to comply with the requirement of the PSE.
2. Approval of the audited financial statement of the registrant for the
calendar year 1996.
3. Election of the following directors to serve as such for the year
1998 until their successors shall have been duly elected and qualified:
Jimmy Gow, Jaime I. Cabangis, Cherrie V. Gow, Carolyn Gow-Yap,
Jaime Singson, Antonio Lecaros, Bienvenido Araw.
4. Approval of the re-appointment of Sycip Gorres Velayo & Co. to act
as the external auditor of the registrant for the year 1998.
AAA ( 11/10/1998 : PSE )
Asia Amalgamated Holdings Corp. informs that upon failure to pay the
daily fine in connection with its late submission of SEC Form 11-Q for
the quarter ended March 31, 1998. The Exchange, upon
recommendation of the Listing Committee and approval by the Board
of Governors, shall consider implementing a trading halt on the shares
of "AAA" on November 17, 1998 pending compliance with the
structured reportorial requirements of the Exchange.
AAA ( 11/25/1998 : PSE )
Asia Amalgamated Holdings Corp. informs that it was set to assign on
November 24, 1998 its shares in Ecology Savings Bank, its wholly
owned subsidiary, to EBC Investments, Inc.. EBCII has started its due
diligence work on the business, financial and legal condition of
Ecology Savings Bank, which is expected to be completed by the end
of the month. The assignment is subject to the approval of the
stockholders of AAA at a special meeting to be called for that
purpose. The assignment is further subject to the approval of the
Bangko Sentral ng Pilipinas.
AAA ( 01/19/1999 : PSE )
On January 12, 1999, the Securities and Exchange Commission
approved the Amendment Article VI of the Articles of Incorporation of
Asia Amalgamated Corporation with respect to the increase of the
number of directors of said corporation from five (5) to seven (7).
AAA ( 01/29/1999 : PSE )
Asia Amalgamated Holdings Corporation has transferred its office to
its new location at #90 E. Rodriguez Jr. Avenue, Barrio Ugong Norte,
Libis Quezon City.
AAA ( 05/31/1999 : TDY )
A total of 24 companies are facing sanctions from the PSE, which would
include the possible suspension of the trading of their shares, for failing
to comply with the reportorial requirements of the Exchange. PSE COO
Rafael Llave said in a memorandum for brokers that 24 companies have
not yet submitted their 1998 annual report using Form 11-A of the SEC.
The report contains the audited financial statements of the companies
whose shares are being traded at the PSE. The list is led by low-cost
house developer C&P Homes Inc. of House Speaker Manuel Villar, the
state-run Philippine National Construction Corp., mall developer Uniwide
Holdings Inc. and Asia Amalgamated Holdings Corp. of businessman
Jimmy Gow, DMCI Holdings Inc.and Universal Rightfield Property Holdings
of the Consunji family, Mondragon International Philippines Inc., and East
Asia Power Resources Corp. of taipan Andrew Gotianun. Belle Corp.,
APC Group Inc., and Sinophil Corp. of former trade secretary Roberto
Ongpin and businessman Jaime Gonzales have also yet to submit their
annual report to the PSE. Other companies that failed to submit the
required reports to the PSE are Atlas Consolidated Mining and
Development, Baguio Gold Holdings, Benguet Corp., BW Resource,
Dharmala Philippines, Global Equities, Manila Broadcasting, Marsteel
Consolidated, Metropolitan Insurance, MRC Allied Industries, PDCP
Development Bank, Polar Mines and Development and Reynolds
Philippines. The SEC has already approved stricter sanctions against
publicly listed corporations wherein the PSE, with its self-regulatory
organization (SRO) permit, can suspend and ultimately delist companies
that have been delinquent in complying with reportorial requirements.
AAA ( 04/25/2000 : PSE )
This is with reference to the PSE facsimile regarding the unusual
movement in the trading of Asia Amalgamated Holdings Corporation
(AAA) shares today. The company is not aware of any information or
cause which my have affected the value and trading of the shares
today.
AAA ( 05/24/2000 : PSE )
Please be informed that at today's special meeting, the Board of
Directors of Asia Amalgamated Holdings Corporation (the
"Corporation"), approved the holding of the postponed Annual
Stockholders' meeting on July 7, 2000. The Board further resolved to
set the record date as of June 7, 2000.
AAA ( 07/10/2000 : PSE )
At the Annual Stockholders Meeting of the Corporation held on 7 July
2000 at 3:30 p.m. at least 2/3 of outstanding capital stock approved,
ratified and confirmed the assignment of the Corporation's Ecology
Bank shares to EBC Strategic Holdings Corporation effective upon the
execution of a Memorandum of Agreement presently being finalized
by and between Equitable Bank Corporation and the Uniwide Group of
Companies. SGV& Co. were re-appointed as the Corporation's
External Auditors for the year 2000. The following stockholders were
elected as Directors for the year 2000-2001:
Jimmy N. Gow Bienvenido Araw
Jaime I. Cabangis Julius Maling
Cherrie V. Gow Eduardo Martinez
Carolyn Gow Yap
At the organizational meeting of the Directors held immediately after
the annual meeting, the following were elected as officers of the
Corporation to the position opposite their names.
Jimmy N. Gow = Chairman of the Board
Julius Maling = President
Roderick R.C. Salazar III = Corporate Secretary
Mylene T. Marcia-Creencia = Asst. Corporate Secretary
AAA ( 06/04/2001 : PSE )
Asia Amalgamated Holdings Corporation would like to inform the
Exchange that in a meeting of its Board of Directors held on May 29,
2001 at 4:00 p.m., the Board resolved to postpone the annual
stockholders' meeting of the Corporation due to time, financial and
operational constraints in the preparation of the Corporation's
Information Statement, Annual Report and other regulatory reports.
Under the Corporation's By-Laws, the annual stockholders' meeting is
held on any day in May of each year. In compliance with paragraph 2
(c) (ii) (A) of Rule 17, Implementing Rules and Regulations of the
Securities Regulations, a disclosure to this effect will be promptly
made by the Corporation to the public through the news media.
AAA ( 09/25/2001 : PSE )
Significant Changes in Balance Sheets
1. Cash and cash equivalent
The account decreased by P13.2 M from P18.69 M as of
December 31, 2000 to P5.47 M as of end of June 2001. The
decrease is essentially due to the settlement of insurance premiums
due by ESBI Insurance Brokers, Inc. and payment of operating
expenses despite the non-operation status of the subsidiaries.
2. Receivables
The account decreased by P15.7 M which is essentially due to
collection of insurance premiums by the affiliate broker, ESBI
Insurance Brokers, Inc.
3. Due from stockholders and affiliates
The increase is due to the reclassification of the uncollected balance
of insurance premiums from Uniwide group pertaining to 1998
coverage amounting to P4.17 M and which was included among
the Uniwide's rehab account. The amount which represents charges
of basic insurance premiums such as documentary stamps, value
added tax, fire service tax and local government tax was taken out of
the premiums receivalble account to reflect the amount owed by
affiliates. The collectibility of these amounts depends on the result fo
the rehabilitation programs fo the Uniwide group.
4.Other Liabilities
The decrease in the accounts represents settlement by ESBI
Insurance Brokers, Inc. of the various insurance premiums payable as
a result of the brokers' reconciliation of accounts with its various
principal insurance companies following management's decision not to
renew the license anymore."
AAA ( 11/29/2001 : PSE )
Please be informed that the board of directors, in a meeting held on
November 22, 2001, resolved to accept the resignation of MR. JAIME I.
CABANGIS as Director of the corporation effective June 30, 2001.
The seat vacated by the resignation of Mr. Cabangis remains vacant
until the election of a qualified person to take his place in the board.
We will apprise you of the name of Mr. Cabangis' replacement as
soon as one is elected.
AAA ( 09/16/2002 : PSE )
In compliance with the Code of Corporate Governance, the Chairman
of the board of Asia Amalgamated Holdings Corp. has designated Ms.
Cherrie V. Gow Chief Financial Officer as Compliance Officer of
AAHC."
AAA ( 10/20/2003 : PSE )
Asia Amalgamated Holdings Corp. would like to inform that ASIA
AMALGAMATED HOLDINGS CORP., head office operations has
transferred to a new location. Henceforth, the Corporation can be
reached at this address and Telephone Number:
Upper Ground Floor, Pearl Plaza Bldg.
0165 Quirino Ave., Brgy. Tambo, Paranaque, Metro Manila
Trunk Line Nos. 852-8997/852-9012 to 13/852-9016 to 19
Local 610/621
