The Digital Source For China's Tech Innovation Since 2000

Search
Close

Bandwagon bust: Dennis Uy abandons P2.4B e-Commerce project, gets stuck with unpaid China Bank loan

April 10, 2022
Source: bilyonaryo.com bilyonaryo.com
News Snapshot:
Davao-based businessman Dennis Uy has thrown overboard Chelsea Logistics and Infrastructure Holdings’ e-commerce project due to his failure to stop his company from bleeding over the last four years. In a report to stockholders, Chelsea said it terminated the construction of a warehouse in Taguig last year. “Pursuant to the plan of the group to venture in e-Commerce, the management has reevaluated its intention for these properties, and has deemed that the use of the properties is currently undetermined,” said Chelsea. Chelsea has already sunk in P2.432 billion into the abandoned project – P1.199 billion for the land and P232.6...
Go To Original Source →
Tags: bank | banking | Business | China | construction | e-commerce | infrastructure | ink | ipo | IT | loan | logistics | management | Pandemic | payment | property | report | Total | warehouse

Other Related News:

Russian founder of cryptocurrency exchange arrested in Miami, accused of dealing with dirty money as part of "high-tech axis of crypto crime"

January 19, 2023

Bitzlato crypto exchange founder charged with illegal transfers of $700 million

January 19, 2023

Big Tech braces for dismal profits, more job cuts

January 19, 2023

Microsoft to shed 10,000 jobs, adding to glut of tech layoffs

January 19, 2023

A Drive to Understand National Capabilities in Critical Technologies The New York Times

January 19, 2023

Texas universities ban TikTok

January 19, 2023

Law Firm Investigating Diablo Immortal For False Advertising

January 19, 2023

PREVIEW-Big Tech braces for dismal profits, more job cuts

January 19, 2023

Apple wants to control everything from its chips to screens

January 19, 2023
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2023 ChinaTechNews.com. A Service of Asia Media Network.
Twitter