Barnaby Chong claims brother Bren has no links to World Balance: He has long decided to pursue his own interests

Barnaby Chong claims brother Bren has no links to World Balance: He has long decided to pursue his own interests CHG Global, formerly World Balance International, has distanced itself from any links to the son of its owner who has been issued an arrest warrant for alleged drug smuggling.

CHG president and CEO Barnaby L. Chong confirmed that while the subject of the arrest warrant, Bren, is his brother, “he is not involved in the running of CHG Global, World Balance, or any other businesses of the corporation.”

“(He) has long decided to pursue his own interests.. Bren Chong is neither a shareholder nor an officer of the corporation, which is a matter of public record,” said Barnaby.

Barnaby, who took over the company in 2006, explained that World Balance is a” three-generation” corporation which was founded by Arsenio, Armani and Sin Chong in 1980.

“CHG Global is in the business of promoting fitness and health by creating great quality products at affordable prices. We will never be involved in anything illegal, much less drugs, which destroy people’s lives and is contrary to the principles and values that have built our business on all these years,” said Barnaby.

UPDATED| NBI hunts down son of World Balance owner Bren Chong: Court orders arrest of Lyka app owner for alleged drug smuggling

The Manila Regional Trial Court Branch 13 issued an arrest warrant for Bren on June 2, 2022 over his alleged involvement in the botched smuggling of P1.87 billion worth of shabu at the Manila International Container Port (MICP).

Before this controversy erupted, Bren has been widely touting his ties to World Balance to promote his other businesses.

Bren is behind the controversial app Lyka; Bren Esports, a Southeast Asian professional esports organization based in the Philippines; and cSynergy88 Studios – the Philippines’ first Microsoft-accredited art supplier, which specializes in mobile games and 2D character designs.

In a report by Tiebreaker Times in January 2021, Bren was described as “coming from the well-off Chong clan.”

“He (Bren) immediately entered the family business as soon as he finished his education and learned all about sales and finance…

After absorbing as much experience is as he could, (Bren) decided to use his grasp of the business industry to go back to things he feels most passionate about,” the Tiebreaker Times article said.

In a Bren Esports post on Blogspot, Bren was described as a “natural entrepreneur, armed with an immense passion for intellectual growth, and a savvy investor whose portfolio ranges from traditional brick and mortar businesses to angel investments in tech startups.”

“As early as grade school, he was already selling products of their family shoe business. While at University, he ventured into several businesses, most notably in the recycling industry. After finishing his studies, he took over the family business and transformed it into one of the most popular local footwear in the Philippines, World Balance,” Bren Esports said.

“During this time, he diversified his portfolio by going into several other investments. He has stakes in animation – ASI Studios; communications – Energy FM; F&B – Tim Hortons/Kko Kko; entertainment – RKB Productions; IT – Thirty One Digital/; and BrenPro Inc. and Mineski Events Team,” it added.

Profit of Yap-led CEU clobbered by pandemic restrictions

Centro Escolar University (CEU), controlled by he heirs of the late Don Emilio Yap, saw a 23 percent decline in net income during its fiscal year ending May this year to P119.05 million due to the deferral of revenues and recognition of contract liabilities.

Germany raids properties belonging to Russian oligarch

German investigators on Wednesday raided properties belonging to a Russian oligarch suspected of tax evasion and breaking EU sanctions, police and prosecutors said, with sources naming billionaire Alisher Usmanov as the target.

GOLD! Trending Today
PLATINUM! Trending This Week
TITANIUM! Trending This Month