by Myrna Velasco January 29, 2016
The Del Rosario-led Trans-Asia Oil
and Energy Development Corporation is rebranding into PHINMA Energy
Corporation, a name that will be stamped with the hallmark of its parent firm.
In a statement to the media, the
company said the agenda on renaming its energy unit was approved by its board
of directors during their January 25 meeting.
This will be firmed up on the
shareholders meeting of the publicly listed company on April 12 this year.
“This has been the subject of
discussion over the past years and we would like to share with you the
rationale and spirit behind this change,” PHINMA president and chief executive
officer Ramon R. Del Rosario Jr. noted.
Crediting current Trans-Asia
president and CEO Francisco L. Viray on the development successes of their
energy arm, the company indicated that it is still poised for growth in this
business segment.
“Moving forward, renaming Trans-Asia
Oil and Energy Development Corporation to PHINMA Energy Corporation is a key
step in enhancing the integration of our strategic business units by combining
the commercial success of Trans-Asia with the strong brand and management
expertise of PHINMA,” the company has expounded.
In its 46 years of existence,
Trans-Asia’s portfolio of power facilities registered organic expansion, in a
good combination of fossil fuel-based and renewable energy sources.
Its current project completions
include the 54-megawatt wind farm project in San Lorenzo, Guimaras; and the two
blocks of 135-MW coal-fired generating facilities in Batangas.
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