Philippines: Phinma to divest stake in Fuld US for $3.6m

Visual from company website.

Phinma Corp, a listed holding firm in the Philippines, is divesting its shares in global consulting firm Fuld and Co Inc (Fuld US) for over $3.6 million.

Phinma’s board of directors approved the plan on Wednesday (April 26) to sell 100 outstanding shares in Fuld US priced at $36,198.30 per share to Accretio Investments Pte Ltd, a Singapore-based limited exempt private firm.

The shares being sold represents Phinma’s 95.09 per cent stake in Fuld US.

Fuld US is engaged in competitive strategy and intelligence consulting, while Fuld & Co Philippines Inc or formerly Business Backoffice Inc (BBI) is a Manila-based knowledge process outsourcing firm owned 100 per cent by Phinma.

Launched in 2002, Fuld Philippines has completed over 400 research projects worldwide. It delivers critical business research solutions by providing phone-based intelligence collection and analysis on critical business issues.

“The sale will allow PHN to focus its efforts on Fuld Philippines as it develops new markets and opportunities in the Philippines and in Southeast Asia,” Phinma said in its statement.

Phinma noted the selling price was a negotiated amount which takes into account the company’s track record in the industry, its past performance and expected revenues and income.

After the transaction is completed Fuld Philippines shall continue to be owned by Phinma and will be renamed Integrative Competitive Intelligence Asia Inc (ICI-Asia).

“ICI Asia can continue to use the brand ‘Omniscope’,” Phinma added.

Now on its 60th year as a local holding company, Phinma also has interests in education, energy, hotels, housing, and steel products.

Phinma’s last trading price decreased 0.52 per cent or P0.060 to close at P11.38 per share on Wednesday (April 26).

Also Read:

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Philippines: CIP to divest 65% stake in LMG Chemicals

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

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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.