Before business tycoon Roberto V. Ongpin a.k.a RVO passed away, we heard that he was working on the stock market debut of Balesin Island and had already approached certain banks for potential
To recall, his property development arm Alphaland Corp. itself had been involuntarily delisted by the Philippine Stock Exchange in 2014 amid disclosure issues. This was around the time that RVO was in a squabble with British Fund Ashmore, which was settled with a compromise to divide Alphaland’s assets.
So we’re revealing it up front this time: We’re talking about former Energy Undersecretary Jay Layug who will be moving from his position as senior partner at Puno Law to join Divina Law, which is growing its energy sector-focused law practice, we’re told. As Energy Undersecretary, Layug was instrumental in crafting many of the laws and regulations currently being used in the local energy industry, so his expertise is highly valued by clients.
The manufacturer and distributor of the iconic Lancer, Pajero, Strada, Adventure, Mirage and Montero may be turning into a senior citizen, but it is nowhere near being old.
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