BoI approves 5 projects worth P609 M

By BERNIE CAHILES-MAGKILAT
November 6, 2009, 6:11pm

The Board of Investments (BoI) has granted tax and fiscal incentives to four projects worth P608.8 million.

The approved projects include two housing projects of Communities Leyte Inc. and Household Development Corp. and two IT ventures Scopeworks Asia Inc. and Magellan Solutions Outsourcing Inc.

Communities Leyte, Inc. is constructing 322 low cost mass housing units in 9.17 hectare property in barangay Campetic, Palo, Leyte.

The company is owned by Communities Philippines Inc. with Jerylle Luz C. Quismundo as president.

The other housing project is that of Household Development Corp., which is constructing two subdivisions for a total cost of P197.3 million.

Both subdivisions – Sonrise and Abraza involve the construction of 190 housing units over a 1.79 hectare of land in Pasig City.

The project is owned by the Camella Homes Inc.

On the other hand, Magellan Solutions Inc. was approved with incentives for its P40 million project.

Magellan is a business process outsourcing firm engaged in providing information research and support services.

It is serving its US-based clients in the fields of health and nutrition, sports equipment and gear, mortgage banking and financial services, telecommunication service providers, travel and leisure, media industries and similar industries.

The company will establish an 80-seat call center in Ortigas Ave. This is already the second registration of the company with the BoI with its first call center having been in commercial operation since 2005.

Scopeworks, a wholly-owned subsidiary of Paxys, Inc., is investing P26.3 million for the expansion of its existing data transcription business.

At full capacity, the project is expected to employ 758 people.

Scopeworks provides voice to text conversion of legal recordings and documentation of court reports.