Trans-Asia Petroleum Corporation changes it business interest from power generation to oil and gas exploration and production

In August 28, 2012, the Board of Directors of Trans-Asia Oil and Energy Development Corporation approved the change of the primary purpose of Trans-Asia (Karang-Besar) Petroleum Corporation, a 100% subsidiary of the Corporation, from power generation to oil and gas exploration and production. The Board also approves the increase of the authorized capital stock of Trans-Asia (Karang-Besar) Petroleum Corporation from PhP 40,000,000 divided into 4,000,000,000 shares with the par value of PhP00.01 per share to PhP1,000,000,000 divided into 100,000,000,000 shares with the par value of PhP00.01 per share. - https://www.affordablecebu.com/