Press Materials / News
Metro Manila (CNN Philippines, March 29) — Farm produce wholesaler AgriNurture, Inc. is targetting to raise 75 million euros (P4.28 billion) worth of “sustainability funds” on the international capital markets, after it secured a “medium green” rating—claimed to be the first given to a Philippine agricultural firm.
The publicly listed company, which is led by businessman Antonio Tiu, announced in a statement on Monday it secured a Medium Green certification from international research and rating agency Cicero Shades of Green, allowing it to launch a 75-million-euro green bond, with a maturity of up to seven years.
Medium green is considered a high rating given to “projects and solutions that represent steps toward the long-term vision,” ANI said. The firm said the rating echoes its “strong governance procedures and ambitions to improve further.”
The group is hoping to be “climate neutral” by 2030 and pursue its targets in renewable energy and organic farming.
A green bond provides a chance for companies to have access to much-needed financing for their environmental and climate-related projects.
Proceeds from the bond issue will be used for its agricultural project expansion geared toward climate change adaptation and minimized environmental footprint, the company said.
The funds will also finance its production and trade of fresh organic produce and implement projects with positive environmental benefits, ANI added.
ANI focuses on supplying home-grown fruits such as mango, banana, and pineapple to customers in Hong Kong, and Mainland China. It has also expanded to the Middle East and to different European regions.
Its earnings in the first nine months of 2020 soared by 503% to ₱355.21 million against the ₱58.92 million posted a year earlier, on the back of strong local sales.
Shares in ANI went up by 1.14% or 8 centavos to finish at ₱7.08 each on Monday.
Read more: https://cnnphilippines.com/business/2021/3/29/agricurture-75-million-euros-green-bonds.html?fbclid=IwAR2Vw9DT2IM_SiVP76WoA1Lh_DzA_trIS1dCdargUd3stCGtY-MM4KEZG_w
Listed firms AbaCore Capital Holdings, Inc. and Greenergy Holdings, Inc. are planning to jointly develop a Logistics and Food Terminal Complex in Barangay Santa Rita, Aplaya, Batangas City.
Based on the Memorandum of Agreement (MOA) signed by Ala Eh Knit Inc., an affiliate of Abacore, and Greenergy, the existing shareholders of Ala Eh Knit agreed to infuse a 3-hectare property into Ala Eh in exchange for such a number of shares equivalent to 40 percent of the company’s total outstanding capital stock.
Greenergy, in turn, agreed to subscribe to such a number of shares equivalent to 60 percent of the total outstanding capital stock of Ala Eh Knit, paving the way for the company to acquire majority ownership of Ala Eh.
Once the capital restructuring of Ala Eh Knit is completed, Greenergy will manage the construction, development, and operation of the Logistics and Food Terminal Complex which will include cold and dry storage facilities, agri-processing facilities, and other related infrastructure necessary for marketing and procurement activities.
The facility, which is accessible to the Batangas port, will ensure that agricultural produce is safe and fresh before it is distributed to their respective local and international markets.
It will also enhance Greenergy’s food storage capacity and boost its trading and export capabilities.
“It is the first step in Greenergy’s goal of establishing food terminals in each region of the country that would help in achieving food security and rolling out a commodity and futures exchange,” the company said.
Greenergy has been diversifying its portfolio to include agriculture, agri-tourism, real estate development, banking and finance, and information technology.
MANILA, Philippines — The financial inclusion and digitalization efforts of the Bangko Sentral ng Pilipinas (BSP) got a major boost as the Department of Agriculture (DA) endorsed the issuance of cards to an estimated 13.5 million farmers and fisherfolk nationwide.
Agriculture Secretary William Dar endorsed to state-run Development Bank of the Philippines (DBP) the plan of AgriNurture Inc. (ANI) consortium to provide physical and virtual financial cards to farmers and fisherfolk affected by the COVID-19 pandemic.
“We are pleased to endorse to your good office the initiative of ANI for we believe that the farmers and fisherfolk in the country, who are among the worst hit by the pandemic, will benefit from this,” Dar said in a letter to DBP president and chief executive officer Emmanuel Herbosa.
The company has offered to provide financial cards that contain an e-wallet and QR code to all farmers and fisherfolk registered in the registry for basic sectors in agriculture. The cards, to be coursed through consortium members of ANI, could be used in claiming interventions provided by the agriculture department. Dar said ANI’s initiative is in line with the digitalization efforts of the department through the OneDA strategies.
“Aside from that, it will help farmers and fisherfolk majority (of whom) are considered to be unbanked members of the society in easily claiming the interventions being provided by DA,” Dar stated in the letter dated March 5.
Furthermore, the DA chief said the initiative would help provide IDs to farmers and fisherfolk who are denied financial access due to lack of documents.
DA’s plan is in sync with BSP Governor Benjamin Diokno’s goal to ‘hit two birds with one stone’ under the central bank’s Digital Payments Transformation Roadmap 2020-2023 to advance an efficient, inclusive, safe and secure digital payment ecosystem.
The roadmap aims to strengthen customer preference for digital payments by converting 50 percent of the total volume and value of retail payments into digital form and double the number of financial included Filipino adults to 70 percent by onboarding them to the formal financial system. This would transform the Philippines to a cash-lite from cash-heavy society before Diokno steps down in 2023.
ANI’s affiliate Greenergy Holdings Inc. (GHI) recently acquired the 51 percent stake of ABS-CBN Corp. and iBayad Online Ventures Inc. in U-Pay Digital Technologies Inc. to jumpstart the e-wallet service to kapamilya members.
MANILA – Greenergy Holdings is acquiring a majority stake in a fintech subsidiary of ABS-CBN Corp, the Antonio Tiu-led company disclosed to the stock market on Monday.
Greenergy said it has executed a legally binding term-sheet agreement with ABS-CBN and iBayad Online Ventures to acquire 51 million fully-paid common shares of U-Pay Digital Technologies Inc. from ABS-CBN.
ABS-CBN Corp confirmed the transaction in a separate disclosure.
U-Pay is a joint venture company between ABS-CBN and iBayad.
The transaction would give Greenergy ownership of 51 percent of the outstanding capital stock of U-Pay.
“Under the Term Sheet, the execution of the definitive agreements is conditioned on a satisfactory legal, financial and environmental, social and governance due diligence by GHI. GHI is given forty-five (45) days from execution of the Term Sheet within which to complete the due diligence,” Greenergy said in its disclosure.
The transaction is also subject to approvals of pertinent government authorities, the firm added.
U-Pay is a fintech player that provides e-commerce and digital payments services, and is duly registered to operate as a remittance and transfer company.
“We develop and provide mobile payment and technology solutions and services,” U-Pay said on its website.
Last week, Singaporean payments firm Aleta Planet said it was eyeing a partnership with Greenergy to venture into “virtual credit cards” in the Philippines and cross-border money remittances.
Greenergy said the proposed partnership is in tune with Tiu’s vision of creating “a seamless e-commerce landscape” through fintech to help link agriculture stakeholders to “global opportunities.”
news.abs-cbn.com is the general news website of ABS-CBN Corp.
Singapore’s Aleta Planet eyes Greenergy as partner for virtual cards, remittances
Singapore-based fintech firm Aleta Planet is eyeing to establish a partnership with a listed local company, Greenergy Holdings Inc., for its issuance of virtual cards as well as cross-border money remittance services.
In a statement on Thursday, Aleta Planet said, under its propose collaboration with Greenergy, it will provide its proprietary technology solution to issue co-branded virtual UnionPay cards to individual clients through Greenergy and its affiliates.
“This will enable ease of payment collection and a fully digital cross-border money remittance service to UnionPay accounts,” the company said.
UnionPay is the world’s largest card payment network with over seven billion cards issued.
Greenergy, meanwhile, shall promote the use of virtual accounts and cross border remittance services to the customers and clients of its subsidiaries and affiliates.
Founded in 2014, Aleta Planet specializes in end-to-end technology solutions for financial institutions and corporates.
It provides payment services regulated under the Payment Services Act, governed by the Monetary Authority of Singapore.
It focuses on a client-specific, solutions-oriented approach and has successfully delivered leading-edge technology solutions.
Greenergy, on the other hand, is a publicly-listed firm engaged in agriculture, agri-tourism, real estate development, banking and finance, and information technology.
Other services under the planned partnership will include payment acceptance, domestic and cross-border money transfers, e-commerce and white-labelling for financial institutions and corporations and co-branding programs to co-brand partners in relation to the financial technology services it provides.
The goal of the collaboration is to maximize opportunities for business growth, enhance shareholder value and cater to the evolving needs of Filipino consumers especially during this time of the COVID-19 pandemic, according to Aleta Planet. — BM, GMA News
Greenergy sets up units for infrastructure, community development
ANTONIO L. Tiu-led Greenergy Holdings, Inc. has approved the incorporation of two wholly-owned units focusing on projects and services related to infrastructure and community development, the listed firm said on Monday.
In a regulatory filing, Greenergy said that its board of directors, who met over the weekend, had authorized the incorporation of wholly owned subsidiaries, namely: Green Tunnel Boring Corp. and Green Communities Development Corp.
Green Tunnel will engage in services with infrastructure developers and local government units, while Green Communities will undertake “transient oriented” community development projects.
The firm did not give further details about its new subsidiaries in its disclosure.
Earlier, the company said that it had discontinued its partnership with RYM Business Management Corp. and some land owners due to the impact of the global health emergency, and the prolonged community quarantine’s effect on real estate property businesses.
Last September, Greenergy ventured into the production of medical cannabis, as it built a new Australian subsidiary with US firm Yakuru — a cannabidiol distributor.
Greenergy is a holding company with interests in renewable energy, agriculture, and real estate development, among others. Some of its subsidiaries are Sunchamp Real Estate Development Corp.; Total Waste Management Recovery System, Inc.; and AgriNurture Development Holdings, Inc.
The listed firm posted a P7.33-million attributable net loss in the third quarter, 21.8% lower than P9.37 million in the same period last year.
Greenergy set to venture into biotech
Greenergy Holdings Inc. is hoping to one day sell in the Philippines a pain and anxiety relief product that is based on one of the many compounds seen in marijuana. Such product may not yet be available locally but is already being sold over the counter in other countries.
Greenery shareholders recently approved the firm’s acquisition of 51 percent of the Yakuru group, which recently introduced its Yakuru line of cannabidiol (CBD) in Australia. CBD is one of several compounds in the cannabis plant, according to the US Food and Drug Administration. CBD does not create a “high” effect or any form of intoxication which is caused by another compound known as delta-9-tetrahydrocannabinol.
Greenergy said CBD oil was used in other countries for pain management, anxiety disorders and a host of other physiological conditions without getting “high.”
Just this month, the Therapeutic Goods Administration (TGA), an agency under Australia’s Department of Health, has allowed CBD products to be sold over the counter.
Yakuru’s first batch of delivery was “sold out in Australia within hours,” Greenergy president and CEO Antonio Tiu told the Inquirer. “I think there’s a big market here and abroad. Many people are looking for safe alternatives to alleviate their pain and other ailments,” he said.
“We’d like to stress that CBD oil is a nonaddictive substance that has a lot of medical uses, especially for pain management and neurodegenerative diseases,” he said. In a statement, Greenergy said Yakura was expecting more CBD orders to be processed and shipped globally by its Colorado-based subsidiary Yakura LLC.
Aligned with the push toward health and wellness using natural components, Tiu said Greenergy’s affiliate, Plentex Ltd., had been investing in biotech for agricultural and medical purposes from plants and algae.
Greenergy signs agreement for Hanergy Solar products
GREENERGY Holdings Inc. on Thursday said it signed an international distributorship agreement with Hanergy Thin Film Power Asia Pacific Ltd. to sell solar power-related products in the Philippines.
Hanergy is engaged in the business of manufacturing and selling solar power-related products.
Under the agreement, Greenergy is appointed as Hanergy’s distributor in the country for the promotion and sale of all Hanergy solar products such as, but not limited to, the new and innovative Film Flat SOLARtile.
‘The agreement has a term of one year, with an option to renew for another year upon expiration of the original term,’ it said.
Hanergy’s CIGS thin-film solar chips allow a conversion efficiency of as high as 18.7 percent. The Philippines will be just one of a few countries such as Australia, New Zealand, Japan and the United States where Hanergy has allowed the preselling of the Thin Film Flat SOLARtile prior to its global launch later this year.
The exclusive distributorship comes at a time when the Philippines has a shortage of electricity.
Antonio Tiu, chairman of Greenergy, said, ‘this tie-up is very timely, as the company will be in a position to provide immediate solution in the metropolis to the current power crisis by expanding capacity with clean, renewable energy using thin film.’
Greenergy was originally incorporated as MUSX Corp. on January 29, 1992. It was established to engage in the creation, design, development and manufacture of specialty semiconductor products and to market and sell the same to customers worldwide.
In 1999, with the approval of its shareholders, the company became a holding company.
In the latter part of 2010, under a new management, the company began its initiative in venturing into other businesses and divested from the semiconductor business.
One of these business opportunities pertained to the field of renewable energy.
Following the divestment, the Securities and Exchange Commission approved the company’s proposal to change its corporate name to the present one.
(c) 2019 Business Mirror Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers
San Carlos BioPower breaks ground for bagasse-fired plant
|April 13, 2013|
MANILA, Philippines – San Carlos BioPower Inc. broke ground yesterday for an 18-megawatt bagasse-fired power plant project in Negros Occidental, an official of the Department of Energy (DOE) said.
The company, controlled by listed firm Greenergy Holdings Inc., would start the construction of the project to meet its December 2014 target completion date, said DOE director Mario Marasigan.
Biomass facilities are becoming more popular. These facilities produce clean renewable energy out of human, plant or animal waste. Sugar mills, meanwhile, produce large amounts of bagasse as waste, which in turn can be used to produce fuel for the biomass plants.
The biomass project will be built alongside the existing ethanol facility of San Carlos Bioenergy, another Greenergy unit.
The project is seen to boost electricity supply in the booming Visayas region.
Furthermore, the biomass project is seen to provide additional source of income for local farmers.
Last month, Greenergy, through subsidiary Biomass Holdings Inc., released P667.527 million to San Carlos BioPower, representing a 64-percent equity interest in the company.
This followed the execution of an investment agreement between Biomass and San Carlos Biopower.
â€œThe release of the total investment price to SCB (San Carlos Biopower) completes the investment of BHI in SCB for the acquisition of 64 percent equity interest in SCB and shall enable SCB to commence the implementation of the 18 MW bagasse- fired power generation project in San Carlos City, Negros Occidental,â€ Greenergy earlier said.
Read more at https://www.philstar.com/business/2013/04/13/929965/san-carlos-biopower-breaks-ground-bagasse-fired-plant#TD4qgSkw6ZOfGR7O.99
Greenergy Holdings, Inc. is rolling out its biotechnology venture with the acquisition of a controlling stake in an Australian firm producing medical marijuana products with a focus on the development and global marketing of medical hemp and its primary by-product, cannabidiol or CBD oil.
In a disclosure to the Philippine Stock Exchange, Greenergy Holdings said its shareholders have approved the acquisition of 51 percent of Yakuru Group which recently introduced its Yakuru line of cannabidiol (CBD) or medicinal marijuana products in Australia.
Used in advanced countries for pain management, anxiety disorders, and a host of other physiological conditions without getting “high”, CBD oil has been well-received in Australia and other parts of the world.
Greenergy’s entry into the flourishing CBD industry comes after the recent decision of Australia’s Therapeutic Goods Administration (TGA) for over the counter cannabidiol sales without prescription.
This led to a significant jump in share prices of CBD firms listed in the Australian Securities Exchange.
Greenergy President and CEO Antonio Tiu said he saw great opportunity and invested in the Australian firm ahead of the Philippine government’s plan of opening up importation of CBD oil for medicinal purposes.
“Just the Philippines alone has a population five times bigger than Australia. We want to provide people suffering from various severe illnesses worldwide with this miracle oil to help alleviate their pain,” he said.
Aligned with this push towards health and wellness using natural components, Tiu said Greenergy’s Australian public company affiliate Plentex Ltd. has been investing in biotech for agricultural and medical purposes from plants and algae.
The firm is also preparing to do backward integration to go into plantation of medicinal hemp in New South Wales and Queensland and export to the rest of the world.
Yakura Group executives said the recent test marketing of Yakuru CBD oil in Australia was a big hit. Thus, they expect more CBD orders to be processed and shipped globally by the Denver, Colorado-based subsidiary Yakura LLC.
Cannabidiol or CBD oil is a product derived from hemp seeds. While it is a form of cannabinoid – chemicals naturally found in hemp plants – CBD does not create a “high” effect or any form of intoxication which is caused by another cannabinoid, known as tetrahydrocannabinol or THC.
As such, the so-called “miracle oil” has been known and safely used to alleviate symptoms of Post Traumatic Stress Disorder (PTSD), anxiety and stress relief, pain management of arthritis, muscle pain, cancer, and to address seizures and other neurodegenerative disorders like Alzheimer’s, Parkinson’s disease and many others.
“We want to bring the many benefits of CBD to those afflicted by ailments without an appropriate solution in Australia, the Philippines and other parts of the world,” Stewart Adams of Yakura Group said.
While marijuana use remains illegal in the Philippines for recreational purposes, the Dangerous Drugs Board recently announced that the approval of a cannabis product for compassionate use could pave the way for CBD importation subject to approval by DDB and Philippine Drug Enforcement Agency.