Bilyonaryo - Property

Dolomite beach developer Francis Lloyd Chua replaces Greg Yu on EEI board

May 24, 2023

Bilyonaryo.com

Engineer Francis Lloyd T. Chua has joined the board of construction giant EEI.

Chua replaced Auto Nation Group chairman Greg Yu who resigned on May 23.

Chua’s company, Industry Holdings and Development Corp., acquired a 14.35 percent stake in EEI from the Yuchengco family’s House of Investments for P1.08 billion.

EEI considers IHDC as its strategic partner for expansion and restructuring, as IHDC has interests in construction supply, logistics, and property sectors.

Previously, HI had sold 20 percent of its stake in EEI to RYM Business Management for P1.25 billion.

Bilyonaryo.com first reported that HI plans to sell its remaining 20 percent stake in EEI.

Chua, a civil engineering graduate from the University of San Carlos, also owns Mac Builders, the company awarded the P389 million contract to build the controversial dolomite beach in Manila Bay.

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