AEV unit seeks BOI perks

MANILA, Philippines - Pilmico Animal Nutrition Corp., a unit of listed Aboitiz Equity Ventures (AEV), is seeking incentives from the Board of Investments (BOI)  for the expansion of its project in Tarlac.

The BOI said in a published notice Pilmico Animal Nutrition “is applying for registration with the BOI as expanding producer of hogs at a capacity of 3.153 million kilos per year on a non-pioneer status.”

The project is located in Brgy. Sto. Rosario in Capas.

The firm could enjoy perks such as income tax holidays once the BOI approves its application.

The BOI wants to attract investments in the country by offering tax exemption and other benefits in preferred areas of economic activity.

Every year, the BOI formulates the Investment Priorities Plan (IPP), a list of priority activities for investments.

Under the 2012 IPP which is currently being used by the BOI, agriculture, agribusiness and fishery are listed as preferred activities.

Other preferred activities listed in the 2012 IPP are creative industries or knowledge-based services; shipbuilding; energy; infrastructure; research and development; green projects; mass housing; motor vehicles; strategic projects; disaster prevention, mitigation and recovery projects; iron and steel; and hospital or medical services.

The 2012 IPP also has a mandatory list covering industries that require their inclusion as provided for under existing laws and covers export activities as well as priority activities identified by the Regional Board of Investments of the Autonomous Region in Muslim Mindanao.

Pilmico Animal Nutrition is engaged in swine production as well as in providing high-nutrition quality feeds under the Pilmico brand.

The firm is likewise involved in providing counsel on animal nutrition and management and superior piglets for farmers to grow to market.

The firm is under AEV’s food business.

Aside from food, AEV’s other businesses are in the power and financial services sectors.