Ayala unit delisted from Singapore bourse

The Singapore-traded Ayala International Holdings Ltd. (AIHL), the foreign property investment and development arm of Philippine conglomerate Ayala Corp., has been officially delisted from the island-nation’s bourse following its ownership by parent company Ayala International Pte. Ltd. (AIPL).

Ayala Corp. managing director Rufino Manotok said AIPL, the Ayala group’s Singapore-based subsidiary, acquired 100 percent of AIHL last May 31, 2002 in line with the entire Ayala companies’ corporate restructuring program.

"Accordingly, AIHL has been delisted from the official list of Singapore Exchange Securities Trading Ltd. effective June 3, 2002," Manotok said.

AIHL is engaged in property investment, development and trading and its investments can be found mainly in Singapore, Australia, Hong Kong and Japan. Previously, the shares of AIHL were listed on the main board of the SLEX where currently, 82.27 percent of its shares are held by Ambeca Pte. Ltd. and Cottesloe Int’l Ltd., both wholly-owned by AIPL.

The remaining public shares of AIHL were acquired by Routledge International Pte. Ltd., another wholly-owned subsidiary of AIPL, through a voluntary conditional cash offer made early this year. – Conrado Diaz Jr.