IPVG To Set Up Singapore-Based Holding Co For Outsourcing Operations
Monday November 17th, 2008 / 12h22
MANILA -(Dow Jones)- IPVG Corp. (IPVG.PH), a Philippine-listed information technology concern, Monday said its board has approved setting up a holding company in Singapore that will comprise the group's voice business processing outsourcing, or call-center, companies in Asia and the Americas. IPVG said a Singapore-based BPO holding company will put the group in a strategic position to capture more outsourcing and offshoring work, as well as expand its BPO operations globally. Chief Executive Enrique Gonzalez said in a statement that while the BPO holding company will span the group's investments in North America, Latin America and Southeast Asia, the change won't affect operations in the countries where IPVG is located. "This structure is geared towards setting up an investment holding company out of Singapore which will allow us to tap capital and finance from Singapore, and for investment into our region-wide operations, particularly the Philippines," Gonzalez said. Gonzalez didn't say whether IPVG plans to list the BPO holding company in Singapore. -By Cris Larano, Dow Jones Newswires; 632-848-5051; cris.larano@dowjones.com
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