Caltex plans HQ in Manila

Caltex plans HQ in Manila

MANILA (AFX-ASIA): Caltex (Asia) Limited is planning to set up a regional headquarters in the country, the Securities and Exchange Commission said.

Caltex (Asia), a subsidiary of Caltex Corp, plans to use the regional headquarters to provide support functions to Caltex companies in the Asia-Pacific region in the areas of information technology, fiscal services and human resources.

Caltex (Asia) is permitted to establish a regional headquarters provided that it complies with the omnibus investments code stating that regional headquarters will not derive income from sources within the country, limiting its activities to supervisory, communications and the coordination of its subsidiaries in the region, the SEC said.