Vantage takes Internet route

There seems to be no stopping local companies from logging into the Internet craze, even in the stock market where technology stocks -- which have taken center stage from blue chips and gaming issues -- have been sprouting practically by the day.

Vantage Equities, an investment holding firm controlled by Wealth Securities owner and former Philippine Stock Exchange chairman Wilson Sy, is only the latest in the growing line of firms taking the Internet route.

In a letter to the PSE, Vantage corporate secretary A. Bayani Tan said the company will be doubling its authorized capital base from P1.2 billion to P2.4 billion to "raise fresh funds and/or enter into swap and other reciprocal arrangements and joint ventures for projects and new businesses that are currently being proposed to and considered by the board."

He said since the board and management of the company recognize the importance of being part of the new, knowledge-based economy, it has been envisioned that the company "will serve as an incubator for Internet and technology start-up companies being spearheaded by the entrepreneurial Filipino -- the natural leaders of the new economy." --