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The right to assemble Chrysler vehicles in the Philippines is now registered under the name of Norkis Automotive Resources Corp. (NARC).This developed after the Board of Investments (BoI) last week approved its transfer from original registrant Transfarm Co. & Inc.
A BoI source said Transfarm reportedly requested for the transfer owing to its legal problem with Daewoo Corp. of South Korea.
Transfarm and Daewoo have a joint venture for the marketing and assembly of Daewoo cars in the Philippines. The venture has gone sour due to the Korean partner's intention to end the agreement and market its own products here by itself.
The source said the legal …