Filinvest to dissolve dormant Mimosa unit to streamline operations

GOTIANUN-LED developer Filinvest Land, Inc. (FLI) is closing its dormant subsidiary Filinvest Lifemalls Mimosa, Inc. (FLMI) to simplify its corporate structure and focus on subsidiaries that are actively generating value, the company said.

- 

"Since FLMI has no assets, operations, or employees, its closure allows us to focus on subsidiaries that are actively driving value and development," FLI President and Chief Executive Officer Tristaneil D. Las Marias told the stock exchange on Monday.

FLMI has filed an application with the Securities and Exchange Commission to shorten its corporate term, a procedural step that allows FLI to streamline its internal structure.

"This step ensures that all corporate entities within the group remain aligned with long-term strategic and operational priorities," the land developer said.