Market News Recap | Oct 5, 2021

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1GTCAP forays into warranty services for used cars

GTCAP launched Premium Warranty Services Phils., Inc. (PWSPI), bringing Japan’s top automotive warranty provider for used cars in the country. PWSPI will work with a wide range of car brands, including an extensive 188-point inspection on any used car, coupled with detailed report on existing state of the inspected vehicle. PWSPI is a JV between GT Mobility Ventures (GTMV), a tie-up between GT Capital Auto Dealership Holdings (GTCAD), Mitsui & Co. Japan, & Premium Group Co. Ltd. (PGC).

2ACEN started JV wind farm in Vietnam

ACEN & BIM Group started commercial operations for its 88MW Ninh Thuan wind farm in Vietnam. This brought ACEN’s RE capacity in the country to 1,000MW in operation & under construction, making Vietnam the 2nd-biggest market to date after the Philippines. This is the 2nd venture after 405MW Ninh Thuan solar farm.

3Logistics app from EEI

EEI launched eCarga app, for front load cargo transport & fleet management. The app aims to tap shippers, professional truck owners & drivers operating within Luzon. EEI targets to have 400 active users by 4Q21, 1,500 by end-2022.

4HLCM launched its 3rd building solution product

HLCM launched AAC Block Adhesive to build better walls. The product is used for laying all types of AAC or ‘autoclaved aerated concrete’, bricks & various types of cement blocks. It is also the 3rd new building solution launched this year, after Holcim Multifid & water-repellent cement, Holcim Aqua-X.

5C makes unit fully-owned

C bought from ES Consultancy Group, 43,081 redeemable preferred B shares & 200 common shares of KGLI-NM Holdings, Inc. KGLI-NM is 50.37%-owned by Udenna Investments B.V. & 39.7% by C. Total purchase price is P875mn. KGLI-NM will be fully-owned by C postcompletion

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