Tanduay Holdings, Inc., (TDY), formerly known as Asian Pacific Equity Corporation (APEC), was incorporated on May 27, 1937 under the name The Manila Wine Merchants, Inc. On November 10, 1999, the Securities and Exchange Commission approved the change in the company's corporate name to Tanduay Holdings, Inc. TDY is 97%-owned by Tangent Holdings Corporation (THC). In November 2008, TDY and THC entered into a deed of assignment of shares and assumption of liability wherein the company assigned all of its shareholdings (500 million shares) in Unimark Investments (SPV-AMC) Corporation (Unimark) to THC subject to the assumption by THC of the company's obligation to Unimark amounting to P837.1 million. With the sale of Unimark, which is engaged in special purpose vehicle-asset management company operations, TDY, through its subsidiaries, is now solely engaged in the manufacture and sale of alcoholic beverages. TDY is a holding company with interests in the liquor and distillery businesses through its subsidiaries and affiliates. The company's subsidiaries are Tanduay Distillers, Inc. (TDI) and Tanduay Brands International, Inc. TDI's subsidiaries are composed of Asian Alcohol Corporation and Absolut Chemicals, Inc. Source: SEC Form 17-A (2008)