Anscor sets aside $20M for various projects

A. Soriano Corp. (Anscor), the listed investment holding firm of the Soriano family, will spend $20 million (P960 million) this year for investments in health care, tourism, telecommunications and call centers as it seeks to become a significant player in these high-growth sectors.

Anscor chairman and president Andres Soriano III told reporters after the company’s stockholders’ meeting yesterday that the company is investing $500,000 in Direct Hotels Ltd., an online hotel reservation system based in the United Kingdom servicing small and medium-sized hotels around the world.

Soriano said prospective clients of the group’s Amanpulo Resort can book directly with their preferred hotel through Direct Hotels.

The Amanpulo Resort in Palawan continues to earn international acclaim as it was recently voted by Gallivanter’s Guide as the second best leisure resort nationwide. It was also named as one of the best hotels for location in Asia by Conde Nast Traveller.

To further attract clients, Anscor unit Seven Seas Resorts & Leisure Inc. launched the second phase of the villa project which includes the development of seven villa clusters along the southeastern end of Pamalican Island. Also being developed are the resort’s spa facilities as well as the addition of a second beach club and a new dive center.

In addition, another Anscor subsidiary, International Quality Manpower Services Inc. (IQMAN), is looking at acquiring medical centers which include a hospital and nursing school based in the Visayas to ensure it has access to qualified nurses for deployment in the US.

Over 350 nurses have joined IQMAN’s full sponsorship program. The number of nurses it has deployed grew to 164 last year from 128 in 2005.

"IQMAN is poised for further growth in 2007 with major developments in the nursing industry. It is estimated that eight to 10 percent of total nursing positions in the US hospitals are currently vacant and the US Bureau of Labor Statistics estimates that the country will need an additional 1.2 million nurses by 2014," Soriano said.

Another affiliate, Multi-Media Telephony Inc. (MTI), is in talks with a local company and two foreign investors for a fresh equity infusion. "We’re evaluating this opportunity and expect a positive outcome later this year," Soriano said.