Manila Firm Set to Produce Modular Homes

From the Philippines comes word that Solid Group Inc. has been authorized by its board to spend P20 million [c. $457,404.00] to import equipment to manufacture modular homes for a pilot project.  According to BusinessWorld Online, this electronics producer, distributor and maker of MyPhone, which also is in real estate, made the disclosure to the Stock Exchange Feb. 23.  Profits for Solid Group fell to P90.4 million [c. $2,067,467.00] from P123.98 million [$2,815,448.00] last year due to increased distribution and selling costs.  Shares in the company, valued at P2.06 billion [c. $45,786,165.00], were unchanged Wednesday.

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