A recent announcement from the Insurance Commission naming fifteen insurance companies on the brink of suspension due to their inability to meet the statutory 100-million capital requirement under DOF Order No. 27-06 sent off alarm bells across the industry. One of the insurance firms mentioned was Eastern Assurance and Surety Corporation (EASCO) and its executive vice president, Norberto Sauco, immediately issued statements "to clarify certain circumstances that obviously caused some confusion and eventually led to the inclusion of our insurance firm as among those unable to meet the capital requirement." Sauco emphasized that the new name of EASCO is Milestone Guaranty Assurance Corporation as approved by the Securities and Exchange Commission (SEC) and, likewise, on April 18, 2007 the SEC approved the latter’s increase of Authorized Capital Stock from R50 million R100 million.

It was gathered, however, that the new corporate name was not publicly announced due to the strong and persistent clamor of the sales people to retain the old name (EASCO) which, according to them, has since 1962 built goodwill and respectable reputation in the industry.

Taking cognizance of the recommendation of their sales people from a marketing standpoint, Sauco said they are all set to file with the Securities and Exchange Commission a Certificate of Amended Articles of Incorporation to retain the company’s old name.

"I hope this will clear the air concerning the matter of capitalization requirement," Sauco said. He also added that a P20 million stockholder deposit was infused and paid by SJ Holdings as stock subscription which is now considered as fresh capital infusion.

EDSA Grand Realty, cited as the Most Outstanding Affordable Residential Condo Developer given by the Philippine Marketing Excellence Awards Institute and arguably the country’s most competitive real estate player, is bullish with its 2007 sales forecast.

Expecting to double its revenue forecast for 2007, EDSA Grand is poised to take a significant share of the market.

Targeted to be completed in 2009, the 30-storey condominium has more than 50 percent of its units sold.

With a soft launch late last year, investors immediately took notice of the condominium rising within the heart of the metropolis.

Citing location and affordability as its main selling points, buyers are snapping up units at the value packed condominium masterpiece.

EDSA Grand Residences president Rudy Niu cites its proximity to SM North and other major establishments that encourages the buyers to invest in a unit. According to Niu, some buyers would even purchase two units, a residential unit and a commercial unit. The first is to live in, the second is for them to operate a business in the commercial area of the condominium.

EDSA Grand Residences is located along Edsa cor. Corregidor St., Quezon City.