Trans-Asia Oil and Energy Development Corp. is changing its name to Phinma Energy Corp. to reflect the group’s brand in the power business. In a disclosure to the Philippine Stock Exchange, Trans-Asia said its board approved the change in corporate name in a meeting in Jan. 25.
Trans-Asia is the oil and power development arm of holding firm Phinma Corp. “The company, being a part of the Phinma Group, would like to use the Phinma brand in conducting its business,” the firm said.
Its new projects include an integrated 20 MW geothermal project in Sto. Tomas, Batangas with the Yuchengco Group and the Philippine National Oil Co. Other projects in the pipeline include the expansion of the 20 MW geothermal plant under Maibarara Geothermal Inc. (MGI) by another 10 MW. It is expected to be online by the first quarter of 2017.