GT Capital puts up new auto dealership

MANILA, Philippines – GT Capital Holdings Inc. is putting up a new company that will operate Toyota dealerships within the Subic Bay Metropolitan Authority (SBMA).

The Securities and Exchange Commission has approved the incorporation of Toyota Subic Inc. (TSI).

In a separate disclosure to the Philippine Stock Exchange (PSE), GT Capital said TSI is a joint venture between GT Capital Auto Dealership Holdings Inc., a newly incorporated and fully owned subsidiary of GT Capital, and JBT Global Holdings Inc.

GTCAD owns 55 percent while JBT Global owns 45 percent of TSI’s issued and outstanding capital stock.

JBT Global is the holding company of businessman Jose Tan, a strategic partner of GT Capital subsidiary Toyota Motor Philippines Corp. in Toyota San Fernando.

Toyota San Fernando operates Toyota dealerships in Plaridel, Bulacan and Hacienda Luisita, Tarlac City.

GT Capital is a listed major Philippine conglomerate with interests in market-leading businesses across banking, automotive assembly, importation, and dealership, infrastructure, water, power, toll roads, healthcare, rail, property development, and life and non-life insurance.

It has been forging strategic partnerships to boost business.

Last May, for instance, the company entered into a strategic alliance with Metro Pacific Investments Corp. (MPIC), the Pangilinan-led infrastructure and tollways conglomerate.

MPIC acquired a 56 percent stake in GT Capital’s Global Business Power Corp. for P22.06 billion following a strategic alliance with GT Capital.

 GT Capital then entered as a strategic investor in MPIC, acquiring 15.6 percent for P21.96 billion.