PH Digest: Vantage Equities to inject $4.8m in investment firm; Chinabank president

Hands shaking over a deal.

Investment and financial holdings firm Vantage Equities Inc is investing up to $4.8 million in the pre-incorporation of a new funding company, while private universal bank Chinabank has named William Whang as its new president.

Vantage Equities putting $4.8m in new investment firm

Vantage Equities Inc, an investment and financial holdings company in the Philippines, is investing up to $4.8 million (P250 million) in the pre-incorporation of a new subsidiary.

“Philequity MSCI Philippines Index Fund Inc will be incorporated to engage in the business of an open-end investment company,” Vantage Equities said in its statement.

Established in 1992, Vantage Equities is engaged in the business to invest, to hold and to use for investment shares of capital stock, bonds, debentures, promissory notes, or other securities or obligations created, negotiated or issued by any corporation, association or other entities.

The company’s present subsidiaries are organized into three major operating business segments, such as remittance services, internet services, and mutual fund management.

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Chinabank’s William Whang becomes president

William C. Whang has formally assumed the president position at Philippine private universal bank China Banking Corp (Chinabank) on Wednesday (November 1), succeeding retired executive Ricardo R. Chua.

Chua will continue to serve as an advisor to the board. A 42-year veteran, he served as Chinabank’s EVP and COO from 1995 to 2014 and president and CEO from September 2014 to October 31, 2017.

Whang was previously Chinabank’s executive VP and COO. He brings with him more than 30 years of banking experience in corporate lending, branch banking, and retail banking. His banking career spanned various senior management positions, including the position of a COO, in several local banks, and a stint with the Republic Bank of New York in Hong Kong.

Whang joined Chinabank in 2011 as head of the institutional banking group focusing on corporate and commercial segments.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.