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In this today’s stock market summary,
First in review – BSC. Basic Energy Corporation (BSC)’s primary purpose is the production of ethanol and other biofuels, and the development of other alternative and renewable energy sources.
As a holding company, BSC fully owns the following subsidiaries: Basic Diversified Industrial Holdings, Inc., an investment holding company; iBasic, Inc., an information technology management company and service integrator; Basic Biofuels Corporation, a biofuels developer; Basic Renewables, which is into the development of renewable energy; Basic Geothermal Energy Corporation, which is into geothermal energy development; and Grandway Group Limited, a Hong Kong based unit in charge of equity investments abroad. The Company also owns 72.58% of Southwest Resources, Inc., an oil exploration company.
BSC was awarded by the Department of Energy (DOE) a total of five service contracts for the exploration and development of geothermal energy in Mabini, Batangas; Mariveles, Bataan; East Mankayan, Benguet; Iriga, Camarines Sur; and West Bulusan, Sorsogon. The Company was also previously awarded by the DOE four hydro-power service contracts all located in Negros Occidental, but BSC has withdrawn from these service contracts to focus on its drilling operations in Mabini, Batangas. This service contract was, however, terminated by the Department of Energy (DOE) in a letter dated June 14, 2019. Source: PSE Edge
PHA reviewed. Premiere Horizon Alliance Corporation (PHA), formerly Premiere Entertainment Philippines, Inc., was incorporated on January 13, 1988 originally as Premiere Films International, Inc. The Company’s primary purpose is to engage in business activities relating to entertainment, gaming, hotel and leisure.
Today, PHA is an investment holding company which focuses on projects that invigorate the countryside. PHA’s mission is to engage in sustainable countryside development using new technologies and best practices in the fields of food security, natural resources development, life sciences and technology, and tourism.
Source: PSE Edge
Next in review – APL. Apollo Global Capital, Inc. (APL), formerly Yehey! Corporation (YEHEY) was incorporated on June 10, 1998 with a primary purpose to engage in the business of internet online-related products relating to database research engine; to engage in other pre-production and post-production work on web sites in internet; and to sell and market said products in the form of advertising of finished products in the domestic or export market. In 2014, the Company is 66.95% owned by Vantage Equities, Inc. Source: PSE Edge
AR in review. AR – Abra Mining & Industrial Corporation engages in the exploration, development, exploitation, process, manufacture, extraction, milling and sale of cement and metal concentrate, marble, building materials and other minerals such as copper, gold, silver, iron and lead. AR is also engaged in the processing and manufacture of non-metals for industrial and commercial purposes at wholesale only.
Last in review – OV – The Philodrill Corporation’s primary purpose is engaging in oil, gas, and mineral exploration and development. In 1989, realizing the need to balance the risk associated with its petroleum activities, OV changed its primary purpose to that of a diversified holding company while retaining petroleum and mineral exploration and development as one of its secondary purposes. Thereafter, the Company has maintained investments in petroleum exploration and production, financial services, property development, mining and infrastructure development. On January 16, 2008, the stockholders of OV approved to change the Company’s primary purpose back to petroleum exploration and development and include as a secondary purpose the holding company purpose clause, which the Securities and Exchange Commission (SEC) approved on April 13, 2009.
The Company’s active petroleum projects cover production and exploration areas in offshore Palawan and onshore Mindoro under various service contracts with the Philippine government through the Department of Energy.
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