LANDBANK lends P1.6B to Pryce

LAND BANK of the Philippines responded positively.

(LANDBANK) last month inked a P1.6-billion loan agreement with Pryce Corp. (Pryce) to fund the expansion of its real estate development and liquefied petroleum gas (LPG) distribution businesses.

The lender said in a statement on Wednesday that Pryce will allocate P1.5 billion for the construction of LPG terminals and refilling stations of its subsidiary, Pryce Gases, Inc., while P105 million will go to subsidiary Oro Oxygen Corp. to fund the expansion of its LPG products distribution.

“Banks with plans to increase their agriculture loans claimed that they see great potential of the sector for growth and development, and that the sector is a widely untapped market,” the report stated.

“Thus, respondent banks would like to take the opportunity to cater to the financing needs of the sector and increase their loan portfolio and income.”

The countryside bank survey, which was jointly conducted by the BSP and the DA-Agricultural Credit Policy Council (DA-ACPC), focused specifically on banking units’

The remaining P55 million will finance the development of Pryce’s memorial parks and columbariums in Mindanao, including one in Iligan City that is under construction, LANDBANK said.

The lender said LANDBANK President and Chief Executive Officer Cecilia C. Borromeo, Pryce Chairman Salvador P. Escaño, and Pryce President Efren A. Palma signed the loan on Jan. 27 at LANDBANK Plaza in Malate,

Manila.

“LANDBANK is committed to supporting the continued expansion of Pryce Corporation to help provide a wide array of essential products and services to customers nationwide. We stand ready to serve the growth requirements of the firm and its subsidiaries, as well as other productive businesses towards advancing inclusive economic development,” Ms. Borromeo said.

“The P1.6-billion loan from LANDBANK, combined with Pryce’s existing resources, will help Pryce to further expand its LPG infrastructure and penetrate the market more deeply, thereby enabling Pryce to increase its market share. It will also bring the PryceGas products closer and more accessible to the many household consumers,” Mr. Escaño said.

LANDBANK booked a net income of P30.1 billion in 2022, backed by improved interest income, commissions, and foreign exchange gains.

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Mothers and Sons

Think a minute… Thomas

Edison is one of history’s greatest inventors with more than 1,000 inventions and patents to his name. It is interesting that he gives much of the credit to his mother. Edison wrote:

“I did not have my mother long, but her influence on me lasted all my life. If not for her encouragement and faith in me, I would never have become an inventor. I was a careless boy, and with a mother of less wisdom and sensitivity I would have turned out badly. But her strength, sweetness, and goodness kept me on the right path. My mother was the one who made me the man that I am.”

It is so important that we tell our son how much we love and believe in him, and show him how important he is in our eyes. Ask yourself: “Will my son have many memories and feelings of how much I loved him?” Mom, and Dad, we must let our son know that we discipline him for the things he does and not for the person he is. “Correction does much, but encouragement does much more. Encouragement after correction is like the sun after the rain.”

In fact, the early relationship between a boy and his mother affects his physical