MANILA, Philippines – MacroAsia Corp., the listed aviation services firm of the Lucio Tan Group of Companies, is scouting for potential global partners for the development of an aviation fuel tank farm and cargo handling/warehousing facilities.
In a filing with securities regulators, MacroAsia said it remains on the lookout for prospective partners for the development of other aviation-related businesses and support services.
The company also intends to expand its business at the Diosdado Macapagal International Airport (DMIA) in Clark, Pampanga.
MacroAsia is currently engaged in aviation-support businesses at the Ninoy Aquino International Aiport, Manila Domestic Airport and the General Aviation Areas. It provides inflight catering services, ground handling services for passenger and cargo aircraft, helicopter charter flight services, and operates/develops economic zone.
Given the favorable decision of the Supreme Court regarding its mining cases, MacroAsia is likewise reviving its nickel mining project.
The company holds exclusive rights to explore and develop nickel, chromite, iron and other mineral deposits in Brooke’s Point, Palawan.
In order to pursue new viable opportunities, the company is stepping up its marketing efforts for existing businesses and implementing cost-cutting programs that will last through the end of the year. Among these belt-tightening measures include manpower realignment.
“MacroAsia and its subsidiaries expect to maintain a respectable liquid position and to raise additional outside funds only if new major projects being pursued materialize,” the company said.
The company said there are no plans to acquire any assets, except if needed for its mining operations.