A Brown Co. Inc. Recognizes Impairments and Converts Deposits to Equity
A Brown Co. Inc. is implementing non-cash impairment provisions on several non-core projects, including the Vires LNG venture and the East West Rail Project, to concentrate on its core operations. The company is also converting P642.2 million in deposits for future stock subscriptions in Vires Energy and Aberdi into equity, aiming for a cleaner balance sheet as it moves into 2026.
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A Brown Co. Inc. is recognizing one-time, non-cash impairment provisions on several non-core projects, totaling less than 5% of its assets, to focus on its core business. The affected projects include the Vires LNG venture in Batangas, which has suspended pre-development due to gas supply and grid connection issues, and the East West Rail Project, along with the Aberdi palm oil milling and refinery operations in Bukidnon.
The company is prioritizing its active plant in Surigao del Sur. Additionally, A Brown is converting P642.2 million in deposits for future stock subscriptions in Vires Energy (P135.5 million) and Aberdi (P506.7 million) into equity. These adjustments are non-cash transactions aimed at presenting a cleaner balance sheet moving into 2026.
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