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i read this in the inquirer earlier and i couldnt find the article online.. luckily i was able to find it in the www.manilastandardtoday.com.. anybody hear about this before?

Asia United Bank seeks status of universal bank

Asia United Bank is exploring the possibility of upgrading itself into a universal bank and list 10 percent of its shares to raise some P500 million, AUB officials told reporters yesterday.

AUB is one of the banks that opened after government liberalized banking in the 1990s.

AUB senior vice president Antonio Agcaoili Jr. said upgrading the bank into an expanded commercial bank or a universal bank would allow it to go into investment banking and non-allied activities such as real estate.

“We might apply for a universal banking license next year and maybe an IPO,” Agcaoili said.

The public listing will result from the upgrade into a universal bank, which is required to offer at least 10 percent of its shares to the public.

“We are just looking at the 10 percent,” Agcaoili told reporters. “We just want to test and see how the market perceives the bank.”

Agcaoili said the bank is planning a 34-story building in front of the Asian Development Bank which will cost some P2.5 billion. The bank plans to occupy 10 floors of the building with 24 floors to be converted into a serviced apartment or condotel. Groundbreaking on the property was done in September with completion set in 2008.


The bank plans to double its branch network to over 70 in three years. The plan calls for it to grow organically consider acquisitions if the opportunity arises. Eileen A. Mencias
 

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I noticed that the title of the thread is "Asia United Bank Tower - Ortigas City" FYI: Ortigas is not a city, Ortigas Center is a business district bounded by three cities, Mandaluyong, Pasig and Quezon City. Please be consistent, I'll have the thread renamed to "Asia United Bank Tower - Ortigas Center".
 

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^^ No, that's 3388 Quadrillion Plaza that you're referring to, a scrapped condotel project. Here's the rendering for 3388 Quadrillion Plaza...



It's a different project unless it got renamed and the Q stands for Quadrillion.
 

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^^hehe baka nga

AUB is along Julio Vargas, if it's in front of ADB well there's a few lots left so you can figure it out. Looks like it's a go, have not noticed it being constructed. I'll ask them, kung go na to. Makes sense as AUB is owned by one of the largest real estate companies in the Philippines...Extraordinary Group! A serviced apartment just makes total sense in that area, very good project IMO.
 

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^^ No, that's 3388 Quadrillion Plaza that you're referring to, a scrapped condotel project. Here's the rendering for 3388 Quadrillion Plaza...



It's a different project unless it got renamed and the Q stands for Quadrillion.
Ganda. So ito na ung AUB Tower?

^^hehe baka nga

AUB is along Julio Vargas, if it's in front of ADB well there's a few lots left so you can figure it out. Looks like it's a go, have not noticed it being constructed. I'll ask them, kung go na to. Makes sense as AUB is owned by one of the largest real estate companies in the Philippines...Extraordinary Group! A serviced apartment just makes total sense in that area, very good project IMO.
It's Julia.;)
 
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