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NEWS UPDATES Asean Affairs    September  26,  2017  

Waterfront Philippines to get P1.5-B credit line from PBCOM

The board of directors of Waterfront Philippines Inc. has given the company the green light to engage the Philippine Bank of Communications (PBCOM) in a P1.5- billion credit line earlier approved by the bank.

Arsenio Alfiler Jr., Waterfront Philippines assistant corporate secretary, told the Philippine Stock Exchange the credit line also be used by subsidiaries Waterfront Cebu City Casino Hotel Inc., Waterfront Mactan Casino Hotel Inc., Davao Insular Hotel Co. Inc., Pacific Rehouse Corp., and Crisanta Realty Development Corp.

Waterfront said the credit line will be secured by:

    Real estate mortgage and chattel mortgage over various operating assets used by Waterfront Cebu Casino Hotel in Lahug

    Deed of assignment over leasehold rights on the land owned by the Mactan Cebu International Airport Authority on which the Waterfront Cebu City Casino Hotel stands

    Deed of pledge of the shares of stocks representing ownership of Waterfront Philippines in Waterfront Cebu City Casino Hotel and in Davao Insular Hotel

    Real estate mortgage on 23 parcels of commercial lots with improvements registered under the name of Davao Insular Hotel

    Chattel mortgage on various operating assets used by Davao Insular Hotel

    Real estate mortgage on a 70 hectare agricultural property located in Matina, Pangi, Tolomo, Davao registered under the names of Pacific Rehouse Corporation and Crisanta Realty Development Corporation

Waterfront is an investment holding company for hotel, leisure, and tourism businesses.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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