As Philippines Law prohibits foreigners from owning a business in the Philippines on their own without spending a large amount of money to purchase a business license, Mr. Lim (Malaysian) has decided to start a Filipino company together with Filipino partners since it’s one
of the best ways for a foreigner to operate a business in the country.

As such, the Filipino group of shareholders hold 60% of PAMC’s total shares in Project Phoenix, while the Malaysian group of shareholders, under company name Alstron Mining SDN. BHD, hold 40% of PAMC’S total shares in Project Phoenix.