Day: October 7, 2021

A BROWN Co., Inc.’s wholly owned unit Irradiation Solutions, Inc. (ISI) is now registered by the Board of Investments (BoI) as a new operator of essential services in relation to its Tanay Multipurpose Irradiation Facility project, A Brown said in a disclosure to the exchange on Thursday.

ISI is developing what is said to be the first commercial E-Beam (electron beam) irradiation facility in the country to serve the medical and food industries.

“The E-Beam technology is used in more than 60 countries and is considered the most economical alternative among available commercial sterilization methods,” A Brown said.

Now BoI-registered, ISI will be eligible to avail certain incentives under the Corporate Recovery and Tax Enterprises Act and the Omnibus Investments Code of 1987 as long as it will observe by the provisions of both laws.

A Brown told BusinessWorld last month that the Tanay Commercial E-Beam Facility is expected to be completed by 2023. It may accommodate a volume of up to 20,000 tons yearly.

The P600-million facility will be used to sterilize medical masks, dressings, syringes, surgical staplers, and other single-use medical devices. It will also provide commercial irradiation services to agricultural and fishery products to improve their quality.

“This will enable local products, fruits, and seafood to be of export quality and gain wider access to international markets,” the company said.

A Brown said some 10 agricultural and medical companies have already expressed interest in the facility.

On Thursday, A Brown shares at the stock exchange went up by 2.41% or two centavos to close at 85 centavos apiece. — Keren Concepcion G. Valmonte

A BROWN Co., Inc. is looking at developing a master-planned community in Tanay, Rizal province, which will be home to a residential estate, a themed restaurant, a hotel, and a condominium.

The company aims to recreate the concept it had with its mixed-use community in Northern Mindanao.   

“Our focus has always been on properties that underscore healthy, environment-friendly and low dense communities with a focus on [the] city, mountainside, agricultural, golf and sea resort, and lifestyle developments,” A Brown President and Chief Executive Officer Robertino E. Pizarro said in a statement on Tuesday.

Its Rizal property is said to have a view of Laguna Lake and the Sierra Madre mountain range.

A Brown said there will also be 15-hectare property in the area of its Rizal project that will cater to economic and socialized housing, featuring commercial spaces.

“We look to continue to deliver excellent value for money developments alongside our core competence of building quality homes and pioneering real estate concepts,” Mr. Pizarro said.

The community will be one of the projects that will be funded by the sale of its additional preferred shares.

A Brown is offering 10 million preferred shares for P100 apiece, with an overallotment option of up to five million preferred shares. The company may raise up to P1.5 billion, which will be used for the development of its projects, land banking activities, and for the funding requirements of its wholly owned subsidiary, Irradiation Solutions, Inc.

Despite the pandemic, A Brown said it logged a record P1.5 billion in property reservation sales in 2020, up from the P1 billion logged in the previous year.

“As we venture outside Mindanao, we will continue to pursue real estate products that are built for the long term — providing security, safety, healthy environments to create happy communities,” said Mr. Pizarro.

Shares of A Brown at the stock market inched up by 1.11% or one centavo on Tuesday, closing at 91 centavos each. — Keren Concepcion G. Valmonte