Listed construction and engineering firm EEI Corp. announced that its board of directors has approved the transfer of training facilities in Tanza, Cavite—valued at P164 million—to its wholly owned subsidiary, EEI Training Academy Corp., in exchange for shares under a tax-free property-for-share swap.
In a disclosure to the Philippine Stock Exchange, EEI said the transaction aims to enhance operational efficiency and reduce internal friction costs across the group. The definitive agreements covering the asset transfer will be submitted to the Securities and Exchange Commission (SEC) and the Exchange once executed.
The move is expected to strengthen the capabilities of EEI Training Academy, which plays a key role in preparing and upskilling EEI’s workforce for both local and international deployment.
EEI said that aligning training assets directly with the academy will streamline processes and improve the company’s ability to deliver quality training and certification of employees as well as support the group’s overall productivity, reduce operational costs, and enhance service delivery.
EEI, a part of the Yuchengco Group of Companies, is involved in construction services, steel fabrication, scaffoldings rental, energy retail, real estate, and manpower supply both in the Philippines and abroad. The company has also been actively investing in training and development to maintain a competitive edge in domestic and global markets.
The asset transfer is part of EEI’s broader strategic efforts to realign business units, optimize resources, and prepare for future growth opportunities.
