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Friday, June 16, 2000
 
AC ( 06/16/2000 : AFX )
Ayala Corp, Philippine Long Distance Telephone Co, JG Summit Holdings Inc, Benpres Holdings Inc, Aboitiz Equity Ventures Inc, and United Laboratories Inc have decided to establish an online marketplace to serve their purchasing requirements, the Philippine Daily Inquirer reported. Quoting Trade and Industry Secretary Manuel Roxas II, the paper said the firms will sign today a memorandum of understanding that will set the parameters for the formation of the electronics procurement company. The e-procurement firm, envisioned to have an online bidding and catalogues, is to be set up at an initial capital of 1 B pesos and will be managed by a professional group, the report said.
- posted by StockMarket @ 11:34 PM

Tuesday, June 13, 2000
 
AC ( 06/13/2000 : AFX )
Pilipinas Makro Inc, a unit of Ayala Corp which locally introduced discounted bulk sales, has inquired whether the newly-enacted retail trade liberalisation act would enable it to venture into retailing, newspaper Malaya said. In a letter to Trade Secretary Manuel Roxas II, the company sought the Trade Department's advice on whether the new retail law, which lifts the foreign ownership restriction on retailing, will allow the company to engage in full-scale retailing. The Trade Department said it has yet to release the implementing rules and regulations of the law, adding that Pilipinas Makro should first comply with the pre-qualification requirements for entrants in the liberalised trade sector. This entails that a foreign retailer's parent company should have a net worth of 200 M usd. Aside from Ayala Corp, Pilipinas Makro is co-owned by Dutch firm SHV Makro Holdings NV and Henry Sy of the SM group of companies. The law also requires a five-year record in retailing and five retaining branches or franchises in operations anywhere in the world.
- posted by StockMarket @ 11:34 PM


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