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September 02, 2015, Wednesday
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  • Marikina PNP identifies the driver of 10-wheeler truck involved in accident in Barangka, Marikina as Fernando Padilla. 2 hours ago |
  • Senators Enrile, Revilla & Fmr. Sen. Edgardo Angara among the respondents in a malversation case linked to PDAF. 2 hours ago |
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  • Jose Maria Abaya surrenders in Camp Caringal, QC after the shooting incident in White Plains that resulted in a woman’s death. 7 hours ago |
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  • Victims of road accident in Barangka, Marikina taken to Amang Rodriguez Medical Center & QMMC. 8 hours ago |
  • Driver of 10-wheeler truck that figured in accident along Barangka, Marikina still pinned inside his vehicle as of Wednesday noon. 8 hours ago |
  • PNP Highway Patrol Group (HPG) to begin manning traffic flow at EDSA beginning Monday. 8 hours ago |
  • At least 2 killed as a 10-wheeler truck loses break & rams into 4 other vehicles at overpass going to Barangka in Marikina. 8 hours ago |
  • Some fishermen at Navotas Fish Post preferred to send 'protection' or financial aid to fellow fishermen protesting at Luneta. 10 hours ago |
  • Many fishermen at Navotas Fish Port did not join the 'fish holiday.' 10 hours ago |
  • Maynilad and Manila Water say rotating water supply interruptions may begin next week. 10 hours ago |
  • Maynilad & Manila Water say they will advise customers two days before they implement any 'rotating' water interruption. 10 hours ago |
  • Glitch occurs in new ticketing system that uses 'beep cards' in LRT 2 Santolan Station in Marikina City. 10 hours ago |
  • PNP says it can readily deploy at least 80 Highway Patrol Group members to take charge of traffic flow in EDSA. 10 hours ago |
  • Atty. Levito Baligod to submit to Ombudsman the affidavits of witnesses linking 20 current & past lawmakers to pork barrel scam. 10 hours ago |
  • Murder & illegal possession of firearms filed vs. Jojo Abaya who fired at a van at Katipunan Ave. in QC & killed a female passenger. 10 hours ago |
  • Woman dies as son of a ret. general fires at a van he thought was from a drug rehab center that was fetching him at Katipunan Ave. in QC. 11 hours ago |
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Foreign investor raises stake in Victorias Milling

By MST News | Feb. 07, 2013 at 12:01am
A company based in British Virgin Islands further increased its stake in sugar producer Victorias Milling Co. Inc.

VMC said in a filing with the stock exchange Premier Network International Ltd. of British Virgin Islands purchased another 157.5 million common shares in the sugar milling.

The new acquisition, equivalent to 6.86 percent of VMC’s 2.97 billion outstanding shares, solidified Premier Network’s position as the largest shareholder in the sugar miller.

The price of the transaction was not disclosed.

Premier Network acquired 484.67 million shares, which is equivalent to 24-percent stake in the company on Dec. 28, 2012. The shares were acquired from CVI GVF Lux Masters, a foreign investor in VMC.

This means Premier Network now controls 30.8 percent stake in VMC, making it the single-biggest shareholder of the sugar milling firm.

VMC said the acquisition by Premier Network was primarily for investment purposes.

Tycoon Lucio Tan, through Philippine National Bank and Tanduay Holdings Inc., owns 16 percent of VMC.

VMC is engaged in integrated raw and refined sugar manufacturing. It has sugar plant facilities in Victorias City in Negros Occidental.  The company is currently under corporate rehabilitation.
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