Chelsea Logistics updates business description to add infrastructure, utilities

Chelsea Logistics Corp. (CLC) has amended its articles of incorporation to include infrastructure facilities and utilities as its businesses.

The shipping and logistics company said in a disclosure to the stock exchange that during its stockholders’ meeting held on March 19, the Management and the Board of Directors moved to amend the Articles of Incorporation of the Company, in particular the second Article, to expand the primary purpose of the Company to include infrastructure facilities and systems.

“With this amendment, the Company will now be able to pursue business activities related to the operation of airports and ports and all facilities related to logistics, and utilities. The expanded Primary Purpose will also enable the Company to expand from its current transportation businesses to other utility businesses including, but not limited to, telecommunication, power and other related utilities,” the company said in a statement.

The company, under Davao-based businessman Dennis A. Uy’s Udenna Group of Companies, on Feb. 5 submitted to the government an unsolicited proposal to develop the Davao and New Bohol (Panglao) airports, with a combined project worth of P67 billion. — Patrizia Paola C. Marcelo