CROWN Asia Chemicals Corp. on Wednesday said its board approved a P100-million share buyback program, a move meant to increase its share value.
Company chairman Walter H. Villanueva expressed confidence on the company’s bright prospects and opportunities for growth. The undervalued shares, despite their consistent track record, is a good opportunity to enhance shareholder values, he said.
“We stand with progressive initiative of the government in the development of major infrastructures for economic growth,” Villanueva said.
Crown Asia will supply to the New Passenger Terminal of the Clark International Airport. The land development phase will start soon. Other new major projects are the Cavitex Coastal C-5 Link (CTBEx or the Cavite-Tagaytay-Batangas Expressway) and the Harbour Link Segment 10, which stretches from Valenzuela City to the Port of Manila. It also supplies Calax with Crown HDPE pipes on top of its PVC pipes.