THE Philippine Competition Commission (PCC) has cleared a proposed joint venture by Cebu Landmasters Inc. (CLI) with Singapore-registered NTT UD Asia Pte. In a filing on Thursday, property developer CLI said it had received the PCC certification, dated February 6, authorizing the establishment of CLI NUD Ventures Inc.. CLI announced its partnership with NTT last September, saying the proposed residential project would add to its more than 100 developments across the Visayas and Mindanao regions. NTT, meanwhile, is an international developer of office buildings, residential properties, and other mixed-use developments in Southeast Asia. CLI shares were unchanged at P2.62 each on Thursday amid a 0.4-percent rise in the benchmark Philippine Stock Exchange index.

Source: Manila Times February 15, 2024 16:31 UTC