Cemex Holding Philippines denies ownership in landslide area

Cemex Holding Philippines (CHP) reported to the stock exchange that it has no equity stake in APO Land & Quarry Corp (ALQC) after a landslide killed at least 22 people and left several people unaccounted for in the area on 20 September.

Cemex is coordinating with ALQC after the recent downpour caused a landslide in Sito Sindulan, Barangay Tina-an, Naga City, Cebu.

While ALQC is a raw material supplier of APO Cement Corp (Cemex group), CHP does not own any direct of indirect stake in ALQC or its parent company, Impact Assets Corp (IAC).

However, Cemex Asian South East Corp, majority shareholder of CHP, does own a minority 40 per cent stake in IAC.