September 21, 2017, 8:10 pm
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Holding firm moves to recover assets

Uniwide Holdings Inc. is currently recovering all properties that it plans to lease out as commercial and industrial spaces, according to Jesus Arranza, company president.

Arranza estimates Uniwide still has 9 properties that it could recover.

He said these are valued more than enough to cover the P200 million payables of the company to its suppliers.

Arranza said these properties are located in nearby provinces while one is in Bacolod.

He said the asset recovery would allow Uniwide to engage in land leasing and generate income on a recurring basis.

At present, Arranza said, Uniwide earns from leases of properties of Uniwide structures now housing stores of a wholesale supermarket chain.

Uniwide is still embroiled in a legal discourse with Manila Bay Development Corp. (MBDC), land owner of a 40-hectare property on Roxas boulevard where Uniwide Coastal Mall is located.

Arranza said Uniwide has filed for a petition for the rescission of its contract with MBDC for among other things, the latter’s failure to deliver on its end of the agreement that the Uniwide building would be part of a bigger commercial development of the area.
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