MANILA - Media giant ABS-CBN Broadcasting Corp. launched the regional operating headquarters (ROHQ) for its support services unit on Friday, a move that is seen to give operational efficiency and yield savings to the company.

In a disclosure to the Philippine Stock Exchange, ABS-CBN said it has opened the ROHQ of its Singapore-registered subsidiary, ABS-CBN Shared Service Center Pte. Ltd (ABS-CBN SSCL). ABS-CBN SSCL provides support services to the parent company and its subsidiaries, including ABS-CBN Global Ltd. and its regional offices worldwide.

ABS-CBN said the ROHQ has been registered with the Securities and Exchange Commission and the Board of Investments, with a capitalization of $200,000 (P10 million).

"Initially, the ROHQ will provide financial accounting and manpower services for ABS-CBN and its subsidiaries under arms-length service agreements. This is expected to give greater operational efficiency and yield savings to the company," ABS-CBN said.

After garnering leadership in terms of audience share in Metro Manila, ABS-CBN enjoyed its highest selling month in May, with revenues hitting a record high of over P1.4 billion. The company is set to report its first half financial performance next month.

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