MEGAWIDE Construction Corp. s shareholders have approved the acquisition of real estate developer PH1 World Developers Inc. (PH1) from Citicore Holdings Investments Inc.
Shareholders of Megawide Construction Corp. on Wednesday approved the acquisition of its affiliate PH1 World Developers Inc. from its parent firm Citicore Holdings Investments Inc. Megawide will acquire PH1 World Developers for P5.2 billion. Megawide Chairman Edgar Saavedra said the acquisition of PH1 World Developers will position the company in…
Published December 20, 2020, 6:30 AM
Cebu’s leading business groups are rallying behind Megawide Construction Corporation (“Megawide”) after the Manila International Airport Authority (MIAA) Board revoked the company’s Original Proponent Status (OPS) for the rehabilitation of the Ninoy Aquino International Airport (NAIA).
They are also expressing indignation against a lawsuit which questions the legality of the partnership Megawide shares with GMR Infrastructure Inc., its minority partner in the operations and maintenance of Mactan Cebu International Airport (MCIA).
In a statement, the groups decry malicious attempts to smear the only Filipino company with a proven track record in building world-class airports for the Philippines.
Cebu business groups back Megawide proven track record for NAIA rehab inquirer.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inquirer.net Daily Mail and Mail on Sunday newspapers.