Raul De Mesa sets expansion plans for AbaCore in motion

AbaCore Capital Holdings Inc. is keen on pursuing expansion opportunities amid a challenging operating environment brought about by headwinds facing the Philippine economy.

“Despite a seemingly gloomy economic situation, AbaCore continues to rise high and successfully execute its expansion plans,” AbaCore president Raul De Mesa said.

De Mesa said the company has managed to enter into agreements that successfully realized the value of its assets.

These deals, he said, would lead to a better financial position for the company, allowing it to further pursue expansion plans.

AbaCore recently upgraded its existing business venture with Orient Vision Mining Philippines Inc. (ORVI) into a coal operating agreement.

With the agreement, De Mesa said AbaCore can finally realize the value of its coal assets in Surigao del Sur through royalty fees ORVI will pay out in the course its exploration work.

“There seems to be a silver lining in this challenging operating environment given that the elevated price of commodities globally will allow AbaCore to receive higher-than-usual royalty fees,” he said.

“We look forward to working with ORVI to implement this agreement in order for AbaCore to have more diversified sources or revenue, which would lead to a stronger balance sheet in the long run,” De Mesa added.

The company, meanwhile, also recently sold land in Batangas to the Gaisano group and a national meat-processing chain to enable the expansion of their operations in the province.

“We are committed to ensuring our shareholders get the returns on their investments that they deserve, whether through achieving strong financial performance consistently every quarter or paying dividends, so that they may continue having confidence in AbaCore’s potential,” De Mesa said.

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