MEGAWORLD Corp., the listed property unit controlled by businessman Andrew L. Tan has renamed its controversial and latest residential project in Makati City from The Trumps to One Central, but said that it is not waiving its right to the brand.

“In opting to use One Central, we are by no means relinquishing our right to use the mark The Trumps in any of our real-estate projects in the Philippines,” Tan said in a statement Thursday.

Megaworld is facing American real estate developer Donald J. Trump in legal proceedings over the right to trademark The Trumps in the Philippines. The case is now pending in the Philippine Intellectual Property Office (PIPO).

“We believe Megaworld has a strong legal position,” said Tan. “But we are prepared to abide by the PIPO’s decision, whichever way it goes. We’d like to thank Mr. Trump for generating a lot of interest in One Central in the last few days. We are now seriously considering launching it ahead of schedule,” he said.

Megaworld takes exception to Trump’s recent media allegation that the word “Trump” is “unmistakably associated” with the American billionaire and his company “throughout the world.” It cited a residential building called “The Trumps” in Singapore that, based on research, is neither owned by nor connected with Trump or his company.

One Central is a P5.5 billion, high-end residential condominium project on Sen. Gil Puyat Avenue Extension and Ayala Avenue in Salcedo Village, Makati. The site was formerly occupied by a Shell gasoline station.

“That location is known as the choicest intersection in the Makati business and financial district. It positions our project right next to some of the most prestigious business landmarks in the country,” Tan said.

US-based PeopleSupport Inc., a leading offshore business process outsourcing (BPO) provider, has refused the acquisition bid of IPVG Corp. and AO Capital Partners saying the unsolicited offer “is inadequate and fails to take into account its strategic value and success in implementing its growth strategy.”

PLDT Global eyes partnerships overseas

PLDT Global Corp. (PGC), the international sales and marketing arm of Philippine Long Distance Telephone Co.  (PLDT) Group, will forge partnerships with mobile phone operators in Italy and Macau next year.

MEGAWORLD Corp., the listed property unit controlled by businessman Andrew L. Tan has renamed its controversial and latest residential project in Makati City from The Trumps to One Central, but said that it is not waiving its right to the brand.

UNIONBANK of the Philippines has invested P300 million for the implementation of various initiatives in information technology to further scale up its level of competitiveness in the banking industry.

PHILIPPINE stocks Thursday rose, led by Bank of the Philippine Islands, also known as BPI, on speculation a cash infusion by the Federal Reserve and four other central banks into the financial system will stabilize credit markets.

Hybrid rice production took a backseat as the sole Philippine seed producer SL Agritech founded by Henry Lim Bon Liong focuses on exports to other Asian countries like Bangladesh.