Chelsea Logistics Holdings Corp.’s (CLHC) directors have approved the move to change the name of the company to reflect its new purpose of developing, managing, and operating infrastructure facilities.
In a disclosure to the Philippine Stock Exchange, CLHC said its directors approved the amending of the first article of the company’s articles of incorporation to pave the way for changing CLHC’s name to Chelsea Logistics and Infrastructure Holdings Corp.
CLHC said the change in corporate name is to align with the earlier expansion of its primary purpose, which is “(i) development, management and operation of infrastructure facilities and systems and the business of building, rehabilitating, renovating, constructing, developing, operating and maintaining such facilities and systems, including the commercial assets thereof and all allied business for the operation and maintenance of such facilities and systems.”
The amendment of the articles of incorporation was approved by the Securities and Exchange Commission on June 18, 2018.
CLC earlier said that “there are a number of business opportunities being presented to the company for the operation of airports and ports, and also facilities which can be utilized in connection with its logistics business.”
The company said expanding its primary purpose allows it “to engage in other business in connection with its logistics business.”
CLHC has been pursuing infrastructure projects this year. Recently, the Civil Aviation Authority of the Philippines granted original proponent status to CLHC for its unsolicited proposal to operate, maintain, and expand Davao International Airport with a concession period of 30 years.
CLHC also submitted an P11.5-billion unsolicited proposal to rehabilitate and develop Davao-Sasa port, which the Philippine Ports Authority is currently evaluating.
