Fruitas Holdings, Inc. started opening community stores and plans to establish at least 100 outlets by 2021. This is to adapt on the “new normal” caused by the pandemic. It started in Pasay City under the brand Balai Pandesal opening its 100^th community stores and 71 days prior to its timeline. Expanding from 5 to 33 outlets under Balai Pandesal, since June 2021 and planning to expand more to total of 200 community stores in 2022.

Mr. Lester Yu, Fruitas Holdings President and CEO said “Community stores allow us to have more flexibility in our operations especially with the constant changes in quarantine guidelines. We are more accessible to customers residing or working nearby and the larger format stores also act as hubs for our delivery services.

“As advocates of health and wellness, it is essential for us to provide a safe environment to all our stakeholders while enjoying our healthy and fresh products such as Fruitas, Jamaican Pattie, Soy & Bean, Sabroso Lechon, and more. We must ensure that all our stakeholders are safeguarded against COVID-19 and any adverse effects it may cause, as well as keeping everyone in their household safe from the virus,” Mr. Lester Yu added.

Reopening stores is possible due to the ease of quarantine regulations in NCR. This is bringing total active stores to 90% as of October 22, 2021. In line with its plan to reopen, Fruitas continues to encourage their workforce to be vaccinated as they are close to 100% while its stores personnel are over 90% and 100% on their commissary and head office personnel by the end of 2021. Fruitas strategic approach is coordinated with its desire to provide healthy and fresh products to its customers.

FRUIT price closed at 1.34/share.

Global Ferronickel Holdings Inc. (FNI) said that it is to pursue its original plan of building its Steel Mill after the Hongkong-based partner (Huarong Asia Ltd) backed out. The project consists of $50-million steel mill but decided to take full responsibility on the project by going its own 100% and the construction will start by next year as planned.

According to FNI president Dante Bravo, “The project is still going to push through except that we are going to own it 100 percent. We decided to put all the investments by ourselves instead of partnering with other parties.”

“We believe we have the capacity to do that. Only at this point we are hampered by this pandemic because of the movement of the people but all the plans are there,” he added.

In 2019, FNI reported that Huarong Asia Ltd., their Hongkong-based partner to proceed into steel processing and will acquire 49% of the interest while FNI will received the 51% on their joint partnership. The project estimated annual output of 600,000 tons to build a rebar steel rolling plant in the Philippines and construction was supposed to start this year.

Regarding with the clarification, FNI said that the information stated above was a response to the questions raised during the webinar to FNI President Dante Bravo. On October 21, 2020 the company disclosed that Rebar Steel Rolling Plants commerial operations will began in 2022 with the estimated annual output of 600,000 tons of steel bars but no formalities about the plan has been signed and received by the parties. FNI will make an announcement once the agreements are final, perfected and ready.

Share price of FNI closed at 2.16/share