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ATR-Kim Eng unit seeks joint venture partner.
(From Philippine Daily Inquirer)
Byline: Doris C. Dumlao
SUCAT Land Corp., a wholly owned property unit of ATR-Kim Eng Financial Corp., is evaluating various offers to undertake a joint-venture development of its 9.7-hectare prime property along the South Super Highway in Muntinlupa.
Publicly-listed ATR-Kim Eng Financial announced during its stockholders' meeting last week that Sucat Land had now appointed LandExcel Consulting Inc. to undertake a "highest" and "best use" study and Palafox Associates to prepare the conceptual master plan and conceptual architectural design for the property.
The land was the previous manufacturing site of Firestone and Goodrich Tires, whose manufacturer Philtread Holdings Corp. was acquired by the ATR-Kim Eng group and used as a backdoor listing vehicle on the Philippine Stock Exchange.
"Sucat Land has received letters of interest from various institutions who wish to undertake joint-venture agreements for the development of the property," ATR-Kim Eng said in a disclosure to the PSE on Friday.
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