| DMCI allots P104M for production of low-cost housing parts
Property developer D.M. Consunji Inc. on Friday said it is investing P104 million for the production of components used in low-cost mass housing projects. The components involve the production of wall partition products for horizontal housing development, medium and high-rise building partitions and security/perimeter fences. DMCI will produce wall partitions with a capacity of 120,000 square meters per year. The company said it would operate in an idle facility previously owned by Contech Products South Corp. in Binan, Laguna for the project. D.M. Consunji eyes to market the products to low-cost mass housing developers. .
Stock maestro's picks: British pubs
They call him the L-Train. Larry Robbins is the driven, blunt, larger-than-life founder and CEO of Glenview Capital who manages $7 billion a year and has been honored as one of Trader Monthly's top 100 Hedge Fund Traders. At this year's Value Investing Congress held in Manhattan, which drew investing luminaries like Bill Ackman and Leon Cooperman, he told a crowd of fellow hedgies that his fund is adapting to uncertain times. "We don't have the same tailwinds," he said. "For example, M&A and private equity are on hold. They're not dead. There are a bunch of smart 26-year-olds all ready to buy out every company in America. But the L in the LBO isn't available so they'll have to wait." Robbins went on to explain that Glenview is doing something it doesn't normally do: Exercising patience.
$12 million generated for Fate biotech, stem cell drugs
A group of venture capitalists is investing $12 million to launch Fate Therapeutics, a biotech company aiming to develop drugs that spur dormant adult stem cells to regenerate damaged tissue. The budding biotech expects to have a product in early-stage clinical trials by next year. The company's principal backers are ARCH Venture Partners and Polaris Venture Partners, which both have a Seattle presence. OVP Venture Partners, of Kirkland, and Venrock, based in Cambridge, Mass., are also investors. Fate is operating out of ARCH Venture Partners' Seattle offices, and will remain in the city if it finds a chief executive here, said ARCH founding partner Robert Nelsen. The company plans to open facilities in Massachusetts and California, a statement said. In Seattle "we're able to attract money to great ideas," Nelsen said.
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