PRENEED firm Danvil Plans Inc. said its trust fund reached P4.01 billion as of end October, more than sufficient to cover for the first batch of claimants from maturing plans.

The bulk, or 67 percent, is in long-term government securities while the balance represents cash and equity.

Daniel Villanueva owns Danvil, formerly Berkley International Plans, after a management buyout early this year where Danvil Holdings Inc. acquired all of Berkley International Philippines and its affiliates, including marketing arm Family First Inc.

“This sound financial achievement, only one of many finance-related milestones for which the company has been known through the years, is largely credited with making clients stay put even amidst the initial ambivalence brought about by the buyout at the beginning of this year,” the company said in a statement.

Its prudent financial management in the past 10 years has enabled it to attract a substantial percentage of the industry pie, placing it consistently among the top five in terms of new business for the educational plan sector. Its 2006 audited results show the company’s total assets of P5.3 billion significantly grew from its 2005 performance.

TELENOR of Norway is interested in establishing presence in the country, and wants to become the third-biggest telecommunications company in the Philippines.

SMC did not violate Epira

SOUTHEAST Asia’s largest food and beverage firm San Miguel Corp. (SMC) has approved the Power Sector Assets & Liabilities Management Corp.’s (PSALM) plan to evaluate the allegations raised by Two Rivers Pacific Holdings Corp. relating to possible a violation of the Electric Power Industry Reform Act (Epira).

RAINMAKER Systems Inc., a leading American business process outsourcing (BPO) firm whose clients are mostly Fortune 500 companies, has recently acquired privately held Qinteraction, a large call center in the premier business district of Makati, and is gearing up to sweep Asia by storm.

THE Securities and Exchange Commission (SEC) has issued a new dealer’s license to Eternal Plans Inc., one of the first to be granted to pre-need companies for 2008.

PRENEED firm Danvil Plans Inc. said its trust fund reached P4.01 billion as of end October, more than sufficient to cover for the first batch of claimants from maturing plans.

PHILIPPINE stocks declined for a third day Wednesday, led by Bank of the Philippine Islands, on speculation a quarter-point rate cut in the US will not be enough to extend a six-year expansion in the world’s biggest economy.