- Current Price:
- Previous Closing Price:
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- Day's Range:
- 1,166.00 - 1,180.00
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- Last Update Date:
- 2017-12-12 08:35:39
GT Capital Holdings, Inc. (GTCAP) was incorporated on July 26, 2007 as a holding company. GTCAP is the primary vehicle for the holding and management of the diversified business interests of the Ty family in the Philippines. The Company holds interests in banking, property development; power generation; automotive assembly, importation, distribution, dealership and financing; and life and non-life insurance.
GTCAP completed the acquisition of 22.68% interest in Property Company of Friends, Inc. (PCFI) in August 2015. The Company has the option to increase its direct shareholding in PCFI within the next three years. In March 2016, GTCAP received the approval of the Securities and Exchange Commission to merge its two subsidiaries engaged in automotive dealership namely, Toyota Manila Bay Corporation (TMBC) and Toyota Cubao, Inc. (TCI). TMBC is the surviving corporation and absorbed the entire assets and liabilities of TCI.
On April 4, 2016, GTCAP sold its 100% interest in Charter Ping An Insurance Corporation to Philippine AXA Life Insurance Corporation, the joint venture between the Company, the global AXA Group, and First Metro Investment Corporation. On May 27, 2016, the Company entered into a share purchase agreement with Beacon PowerGen Holdings, Inc. wherein the former sold its 56% interest in Global Business Power Corporation to the latter.
The Company's subsidiaries are Federal Land, Inc. and Toyota Motor Philippines, while its associates include Metropolitan Bank & Trust Company and Toyota Financial Services Philippines Corporation.
Source: SEC Form 17-A (2015)/Disc. Nos. 4737-2015/1314/1732/3050-2016