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PTFC Redevelopment Corporation

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Company Description
PTFC Redevelopment Corporation (TFC), formerly Philippine Tobacco Flue-Curing and Redrying Corporation, was incorporated on March 28, 1951. On March 18, 2014, the primary purpose of the Company was changed to become a real estate corporation, along with changing its name to the present one. Currently, the purpose of the company is to deal, engage or otherwise acquire an interest in land or real estate development.

In 1992, the Company spun off its old warehouses in Baesa to a newly-formed subsidiary, Baesa Redevelopment Corporation (BRC). BRC purchased the warehouses and leased the land where the warehouses are located from the Company. BRC then redeveloped and improved the warehousing facilities and leased them out at improved occupancy and rental rates.

In 1994, TFC consolidated its tobacco operations in Candon, Ilocos Sur. The threshing and re-drying facilities in Balintawak, Quezon City were transferred to Candon where the Company buys, sorts and temporarily stores raw tobacco. This move was intended to reduce handling costs and to maximize the use of the Balintawak property.

TFC's tobacco operations had been incurring losses primarily due to declining export and domestic prices, both in terms of volume and price. Since there were no prospects of a turnaround in the near future, the Board of TFC decided to phase out the tobacco business in April 2002. The tobacco facilities were made available to third parties on short-term lease or tolling arrangements.

Source: SEC Form 17-A (2015)
Security Information
Sector Property
Subsector Property
Corporate Life 50
Incorporation Date Mar 28, 1951
Number of Directors 9
Stockholders' Meeting as per By-Laws January - last Thursday except holidays
Fiscal Year 08/31 (Month/Day)
External Auditor Constantino Guadalquiver
Transfer Agent Stock Transfer Service, Inc.
Contact Information
Business Address 802 A. Bonifacio St. Balintawak, Quezon City
E-mail Address
Telephone Number 362-1808
Fax Number 362-1926
Website http://www.ptfc-brc.com/info