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MPIC eyes investment in Discovery World

March 16, 2021 | 12:06 am
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INFRASTRUCTURE conglomerate Metro Pacific Investments Corp. (MPIC) is in talks with the owners of Discovery World Corp. for a “potential investment.”
“There are ongoing discussions with the Tiu family for a potential investment in Discovery World Corp. and/or its subsidiaries,” MPIC said in a disclosure to the stock exchange on Monday.
“However, no definitive agreement has been signed to date. We will inform the Exchange and the investing public in the event any disclosable transaction is signed,” it added.
Without mentioning MPIC, Discovery World said in a separate disclosure: “As… the company is proceeding with the development of its various projects, it is open to investor groups who are supportive of such projects.” ....

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Discovery World increases stake in four subsidiaries

January 22, 2021 | 12:05 am
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DISCOVERY WORLD Corp. has increased its subscription in four subsidiaries in a move to create opportunities for the company’s resort business.
In four separate disclosures on Thursday, Discovery World announced the decision of its executive committee to increase the company’s subscription in its subsidiaries, namely: Palawan Cove Corp., Lucky Cloud 9 Resort, Inc., Balay Holdings, Inc., and Cay Islands Corp.
Discovery World said it increased its subscription in Palawan Cove by 10 million shares with a par value of P1 per share, amounting to P10 million, which will be used as working capital.
With the new subscription, the company said the resulting outstanding capital stock of Palawan Cove will be 90 million shares, from the previous 80 million shares. ....

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