The listed holding company of businessman Walter Brown has formed a new subsidiary to engage in the palm oil business
In a regulatory filing, A Brown Co. Inc. said its board approved an investment in a new subsidiary to be called Surigao Greens Agri Corp. (SGAC).
A. Brown will be subscribing to 12.5 million common shares representing 100 percent of SGAC’s outstanding capital stock upon incorporation.
SGAC is a company in the process of incorporation.
Its primary purpose is to engage in the business of processing, milling and refining palm oil to manufacture crude palm oil, refined beached deodorized palm oil, palm olein, among others.,
The products will be distributed wholesale or retail basis, provided that the company shall not solicit accept or take investments/placements from the public and neither shall it issue investment contracts.
A. Brown is primarily engaged in the business of real estate development in Cagayan de Oro and Initao in Misamis Oriental; Cainta, Rizal; and Valencia City, Bukidnon and Butuan City, Agusan del Norte.
Through its subsidiaries, A.Brown ventured into oil palm nursery and seedlings distribution, palm oil milling, operation of hotels, real estate brokerage, power generation, and investment in gold mining assets.