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11/18/2008 | 02:07 PM
MANILA, Philippines - IPVG Corp., an information technology firm, will establish a holding firm in Singapore, the company said in a disclosure to the Philippine Stock Exchange (PSE).
The company will “hold all of IPVG’s investments in voice business process outsourcing (BPO) in America, Latin America, Southeast Asia, North America, and the Philippines," IPVG said.
Since the BPO holding company will be based in Singapore, it will be in a strategic position to capture more outsourcing and offshoring work and expand its operations globally."
As a result, officials of IP Contact Center Outsourcing, Inc. (IPCCO), an IPVG subsidiary, have already approved “the transfer of all its fixed assets, material contracts, and employees to a new company to be incorporated under the BPO Holding Company."
Trading of IPVG shares at the PSE remain suspended since October 21 this year. Closing prices during that day was at P1.20 apiece.
A separate IPVG unit, IP e-Game Ventures, and GMA New Media Inc., a subsidiary of GMA Network Inc., entered into a joint venture called I-Play Online Games Inc.
The venture recently secured a license to market, sell, and provide technical support to Philippine users of NBA Street Online.
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