Philippine Infradev re-appoints Tony Tiu as director and President

Philippine Infradev Holdings [INFRA 0.53 ?1.9%; 0% avgVol] [link] disclosed that its board of directors re-appointed Antonio Tiu as President of INFRA and elected him as a director of the company that he resigned from 16 months ago. Mr. Tiu originally resigned from INFRA and other companies in his orbit to “focus” on AgriNurture [ANI 0.55 ?1.8%; 50% avgVol], his agriculture-focused export business. INFRA is the company behind the Makati Subway project, the viability of which was recently thrown into question by the court’s decision in favor of Taguig on the long-standing boundary dispute between Makati and Taguig. 

MB BOTTOM-LINE: Is this a signal that some of the political moves by the Binays in the background are about to pay off for INFRA, or is it just some random event that is essentially meaningless to the grand scheme of the Makati Subway? The Taguig/Makati dispute basically made the subway plan impossible, and I haven’t heard any updates on it since we last heard INFRA reps talking about “modernizing the project” to “maybe another plan for another form of subway, another form of transportation, but still the rail.” [link] What do ANI shareholders have to show for the benefit of Mr. Tiu’s undivided attention? ANI stock is down 92%. INFRA is “only” down around 40% over the same period.

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