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Manila Bulletin devider Business devider Hortaleza to expand to food, real estate; pays P1.2-B capital gains tax

Hortaleza to expand to food, real estate; pays P1.2-B capital gains tax

Published Jul 3, 2019 12:00 am
By James A. Loyola After the sale of its personal care business through Splash Corporation, the Ang Hortaleza Corporation (AHC) will aggressively go into the food business by expanding to other food categories, health and wellness as well as homecare. This was revealed by AHC Chairman and CEO Dr. Rolando B. Hortaleza after the firm remitted P1.2 billion in capital gains tax to the government from the proceeds of about P11 billion from the sale. He said the expansion in the food business will be done through its subsidiary Prime Global Corporation. Hortaleza said his group will also continue to support other MSMEs – start-ups or otherwise, with their financial requirements through its Prime Global Finance Corporation. Aligned with its strategic directions and positioning Dr. Hortaleza emphasized that it will also go intro strategic partnerships through joint ventures. As such it is also eyeing real estate as an addition to its business portfolio. Hortaleza personally informed BIR Commissioner Caesar R. Dulay of the tax payment as their contribution to the tax collection initiatives of the government. Dulay thankfully welcomed this news and enjoined other businesses to emulate the AHC and the other companies under its group as they practice good corporate governance and social accountability. Dr. Hortaleza said that he believes that paying the right taxes is businesses way of contributing to the growth and development of the Philippine economy. He also mentioned that it’s his family’s way of reiterating its commitment to partner with the government in priming a high level of economic activity that will stimulate and eventually finance socio-economic programs.
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