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.