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Manila Bulletin devider Business devider The Stock Market devider A Brown recognizes losses for LNG, railway, palm oil ventures

A Brown recognizes losses for LNG, railway, palm oil ventures

Published Dec 23, 2025 10:13 am
A Brown Co. Inc. (ABCI) is cleaning up its portfolio by recognizing losses on three projects investing in liquefied natural gas (LNG), railway, and palm oil businesses that have not been moving along as planned.
In a disclosure to the Philippine Stock Exchange (PSE), the firm said its board of directors has approved the recognition of one-time, non-cash impairment provisions for these businesses. The total amount of the provisions is less than five percent of the company’s assets.
This move is in line with the company’s strategy to sharpen organizational focus and prioritize its profitable core businesses.
The first of the three is Vires LNG project in Barangay Simlong, Batangas City, where ABCI’s board decided to suspend pre-development activities due to ongoing difficulties in securing grid connection capacity and gas supply, rendering the project timeline uncertain.
Also impaired are the capitalized costs related to preliminary studies for East-West Rail Project, “as the project has remained non-moving with uncertain forward implementation.”
Last are the property, plant, and equipment assets related to A Brown Energy and Resources Development Inc.’s (ABERDI) palm oil plantation, mill, and refinery operations in Impasugong, Bukidnon province, as milling and refining activities at the Bukidnon facilities are suspended.
“The A Brown Group is currently prioritizing its palm oil operations through its other active milling plant operated by Surigao Greens Agricultural Corp. (SGAC) in Surigao del Sur” province, the firm said.
Because of these suspended projects, the ABCI board approved the conversion of ₱135.5 million in deposits for future stock subscription (DFFS) in Vires Energy Corp. and ₱450 million in DFFS in ABERDI into equity.
The impairment provisions and conversion of DFFS to equity are non-cash transactions that do not affect the company’s current cash position or liquidity. These adjustments will be reflected in the company’s 2025 audited financial statements.
“Recognizing these one-time items in the current year allows for the recording of significant one-time non-recurring transactions within the calendar year, thereby presenting a cleaner balance sheet moving forward.
“This portfolio cleanup does not rule out potential future value recovery should conditions change to facilitate redevelopment or sale of these assets,” ABCI said.

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