Bacnotan to Invest PHP1B, Philippines

The board of Bacnotan Consolidated Industries Inc. (BCI.PH) has approved the appropriation of PHP1bn for future investments. The Philippine investment holding concern will source the funds from its retained earnings. Bacnotan recently sold its cement business and is looking to diversify its portfolio to add the services sector, including education, energy, financial services, affordable housing, and the medical services business.