Phividec And Philco Food Ink Landmark Lease

By Mona Lagbas

April 11, 2025, Tagoloan, Misamis Oriental_A transformative 20-year lease agreement was signed Friday between the Phividec Industrial Authority and Philco Food Processing, Inc.

Philco, wholly-owned by Lucky Force International Limited, will lease a 39,596 square meter greenfield lot in Mohon, Tagoloan, wherein a cutting-edge facility will produce 78,000 tons of ultra-high temperature (UHT) coconut milk annually.

The rental, initially pegged at PhP 6.335 million per year, will escalate at a rate of 5% annually.

Philco, an affiliate of the Thai World Group of Companies will, under the agreement, be granted a six-year Income Tax Holiday and other tax incentives by the Philippine Economic Zone Authority under the Create More Act.

"This signing is a game-changer for Phividec and Northern Mindanao. Philco, as part of the Thai World Group, brings world-class expertise that will create over 1,000 direct and 1,500 indirect jobs, uplifting local communities and coconut farmers," said Atty. Joseph Donato J. Bernedo, PIA administrator and CEO.

"As an affiliate of the Thai World Group, Philco is proud to partner with Phividec and PEZA to launch this sustainable, export-focused venture. This investment reflects our confidence in the Philippines as a strategic base, leveraging Thai World Group's legacy in agricultural innovation," shared Sackchai Wongmalasith, President of Thai World Group.

The agreement includes Lucky Force as a co-lessee and guarantor until Philco secures its SEC registration, which will, in turn, ensure financial stability.

"This collaboration showcases the power of international investment to drive local prosperity. It's a testament to the synergy between Thai enterprise and Philippine potential, " added Atty. Bernedo.