Thursday
FeatureOFWs from Aklan urged to invest in bond flotation project
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Author: Jun Ariolo Aguirre (375 Articles)
BORACAY ISLAND, Malay, Aklan – The Philippine National Bank (PNB) has opened its shares for overseas Filipino workers (OFW’s) who are residents of Aklan to invest in the P260-million bond flotation for a reclamation project in Barangay Caticlan, Malay, Aklan.
Rafael Ayuste of the PNB Trust Company said that although the PNB is willing to shoulder fully the said fund needed for the project, it is opening its doors for other investors who want to get a share of the stock.
“Stakeholders denomination are P10,000, P100,000 and P1 million shares. We offer a six-percent interest rate per annum,” Ayuste said.
It was gathered that the duration of the project will be for 10 years.
“The six percent interest though may seem still low but it is one of the highest interest rates so far compared with depositing your money in commercial banks,” Ayuste said.
“All the OFWs have to do is to go to PNB-Kalibo Branch and inquire how they could be able to invest in the bond flotation scheme,” he added.
Since the government limits any qualified bank for only 19 investors for a bond flotation project, the PNB plans to group all interested investors possibly into the maximum 19 groups in order for them to be qualified with the said financing scheme.
The Aklan Provincial Government has undertaken the bond flotation project with the Local Government Unit Guaranteed Corporation and AYN Resource Management as financial adviser.
It aims to expand the tourism facilities in the province in order to lure more tourists to visit this resort island.
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