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Manila Bulletin devider Business devider The Stock Market devider Discovery World invests ₱265 million to expand Palawan properties

Discovery World invests ₱265 million to expand Palawan properties

Published Mar 2, 2026 12:00 am  |  Updated Feb 28, 2026 12:58 pm
Discovery World Corporation Chairman and CEO John Y. Tiu Jr.
Discovery World Corporation Chairman and CEO John Y. Tiu Jr.
The Tiu family’s upscale resort owner Discovery World Corp. (DWC) is investing ₱265 million for the expansion of its properties in the Coron and San Vicente towns in Palawan province, with part of the funds coming from a capital infusion by its chairman.

Based on three disclosures filed by the firm with the Philippine Stock Exchange (PSE) last week, DWC is subscribing to an additional ₱250 million worth of shares in wholly owned subsidiary Euro Pacific Resorts Inc. (EPRI), with the fresh funds to be used to augment working capital.

EPRI is the operator of Discovery Coron, a private island resort located on Dimakya Island, Coron. It used to be called Club Paradise before being acquired by DWC.

“This acquisition is in line with DWC’s business and will create opportunities for the expansion of DWC’s resort business,” the firm said, adding that the subscription covers 2.5 million EPRI shares at ₱100 per share.

Similarly, DWC said its board of directors has approved an increase in the firm’s stake in Palawan Cove Corp. by ₱15 million through the subscription of 15 million common shares at the par value of ₱1 per share.

DWC said the investment will also be used to beef up working capital and create opportunities for expansion.

Palawan Cove is currently in its pre-development phase, which entails permit acquisition, surveying, data gathering, engagement of consultants, and master planning and design of the area to be developed into a beachfront resort hotel on Boayan Island, San Vicente.

Meanwhile, DWC’s board also approved the issuance of ₱105.6 million worth of the company’s shares, consisting of 66 million common shares priced at ₱1.60 each to JT Perle Corp., with the cash to be used to augment the corporation’s working capital.

JT Perle is an existing shareholder and currently owns 33.08 percent of DWC’s outstanding capital. The additional subscription will increase JT Perle’s stake to 37.88 percent.

DWC Chairman and Chief Executive Officer (CEO) John Y. Tiu Jr. holds 60 percent of JT Perle’s outstanding shares.

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