SEC okays hike in FLI capital

The Securities and Exchange Commission (SEC) recently approved an increase in the authorized capital stock of listed property firm Filinvest Land, Inc. from P6 billion to P10 billion.

At the same time, the SEC also approved an 85-percent stock dividend, amounting to P3.5 billion with record date of Aug. 27, 2002.

In a related development, SEC also authorized the increase in FLI’s number of directors from seven to nine. Josephine G. Yap and Jonathan T. Gotianun shall immediately assume office as directors of FLI as they were elected during the company’s regular stockholders’ meeting last May 30, 2002.

FLI is one of the country’s largest real estate developers, offering a wide range of products from low cost to high end housing.

Driving its growth are new and existing projects, one of which is the continuing development of its flagship project, Brentville International. Located in Biñan, Laguna, Brentville recently marked the inauguration of the first commercial building in The Village Front, the commercial strip established within the growing community.

Complementing this was the introduction of the Alyssa and Sophia house models under its Classiques banner. Other upcoming events include the inauguration of open spaces in the La Mirada pocket enclave at Serra Monte Mansions in Cainta, Rizal, apart from further improvements in current projects.