Romualdez firm buying Leyte sand mining company for P5 billion

MANILA, Philippines – Bright Kindle Resources and Investments Incorporated, a holding company owned by the family of House Speaker Martin Romualdez, is set to acquire a sand mining company for P5 billion.

Bright Kindle told the local bourse operator on Wednesday, May 22, that the company, as well as subsidiary Brightstar Holdings and Development Incorporated, is set to acquire Strong Build Mining Development Corporation (SBMDC), a company involved in magnetite sand mining in Leyte. The...