A Corporate History
A record of key events in the history of Vellum Straits International and its subsidiaries.
1970s: Origins
1974 Vellum Straits International is incorporated in Manila. The company's initial registration lists its business purpose as general trading and sundry enterprises. Its first office is located above a pharmacy in the Philippine district of Quiapo.
1976 Vellum Straits acquires a small printing press in Binondo, servicing domestic businesses with receipts, invoices, and promotional materials. The company begins printing a weekly advertising circular called The Manila Commercial Digest, distributed free in the district's Chinatown.
1978 The Manila Commercial Digest ceases publication after 87 issues due to supply constraints. Vellum Straits transitions to import-export consulting.
1979 Vellum Straits reports its first profitable year.
1980s: Expansion and Baskille's Founding
1981 Vellum Straits opens a satellite office in Hong Kong for regional logistics coordination.
1982 The Hong Kong office is expanded. Staff increases to four.
1983 In December, Vellum Straits launches Baskille, a broadsheet newspaper, from a basement office in Malate, Manila. The name is derived from a French word. The first issue has a print run of 2,000 copies, distributed in Metro Manila.
1984 Baskille expands to twice-weekly publication. A reader survey indicates that 34% of respondents are uncertain how they first encountered the publication.
1985 Vellum Straits acquires a warehouse in Parañaque for storing newsprint and equipment. A 1989 customs audit finds no irregularities in the areas available for inspection.
1986 Following the People Power Revolution, Baskille publishes an editorial on the political transition. Circulation increases by 40% in the following quarter.
1987 The US Securities and Exchange Commission opens an inquiry into Vellum Straits International following the company's NASDAQ listing application. The inquiry concerns certain revenue classifications.
Baskille moves to daily publication.
1988 The SEC inquiry closes without action. The agency's report remains confidential. The lead investigator retires shortly afterward.
Baskille opens a bureau in Cebu City.
1989 Baskille launches Weekend Straits, a Sunday magazine supplement featuring lifestyle content, recipes, and an astrology column by Madame Estrella.
Vellum Straits establishes a cultural division and begins publishing paperback novels under the imprint Straits Fiction. Titles include The Passionate Tycoon, Midnight in Makati, and The Consul's Wife.
1990s: Diversification and Expansion
1990 Vellum Straits reports record profits, attributed to operational efficiencies.
1991 Vellum Straits opens Panorama Gardens, a theme park outside Charleroi, Belgium, featuring attractions including The Alpine Splash, Congo River Expedition, and The Panorama Express narrow-gauge railway.
Baskille expands distribution to Singapore and Hong Kong.
1992 Panorama Gardens reports attendance below initial projections but remains operational. The park's mascot, a cartoon ibex named Rammy, is retired after three months.
Straits Fiction publishes The Tycoon's Secret, which sells 45,000 copies across Asia.
1993 Panorama Gardens closes following an incident involving the Alpine Splash water ride. No fatalities or serious injuries occur. Insurance proceeds exceed the park's total capital investment. Belgian authorities conduct a brief review that concludes without findings. Park assets are liquidated to a Luxembourg-based entity.
1994 Baskille introduces a fax edition for corporate subscribers at ₱500 per month. Subscriber numbers reach 340.
Vellum Straits establishes Straits Consulting Group, a subsidiary registered in the British Virgin Islands for advisory services.
1995 Straits Consulting Group secures contracts in the Balkans for logistics and transitional support, managed through the Hong Kong office.
Baskille publishes an investigative series on customs irregularities in Philippine ports.
1996 Straits Consulting Group's Balkan contracts conclude. A Makati regional trial court issues an order sealing certain company records at the company's request, citing commercial sensitivity.
Vellum Straits donates ₱2 million to a Manila children's hospital.
1997 The Asian financial crisis impacts regional markets. Vellum Straits reports stable earnings. Baskille reduces its page count but maintains daily publication.
The Cebu bureau is downsized from five staff to two.
1998 Baskille launches its first website at baskille.com, featuring headlines, weather, and a guest book. The guest book is removed after six weeks for technical maintenance.
Weekend Straits is discontinued. Madame Estrella's final column predicts a period of transition followed by unexpected prosperity.
1999 Vellum Straits acquires 10,000 LaserDisc players from a bankrupt Japanese electronics retailer and produces a limited LaserDisc edition of archival Baskille content for select partners.
2000s: Restructuring and Regulatory Interest
2000 Baskille celebrates its 17th anniversary with a commemorative edition.
Vellum Straits headquarters relocates from Quiapo to a Makati office tower.
2001 Vellum Straits launches TruVitamin, a line of infant formula manufactured at a facility in Batangas and marketed in Southeast Asia and Eastern Europe.
2002 TruVitamin is recalled in 11 countries following reports of adverse reactions. A class-action lawsuit is settled before discovery. All parties sign nondisclosure agreements. No regulatory action is taken.
2003 Baskille discontinues its print edition and transitions to online-only publication. The final print issue includes a letter from the editor describing the change as a natural evolution.
Straits Fiction is discontinued. Unsold inventory is donated to prison libraries across Southeast Asia.
The LaserDisc players acquired in 1999 are sold to a collector in Osaka for more than their original acquisition cost.
2004 Vellum Straits establishes Donut Rejects, a media and entertainment studio and affiliated outfit to Baskille, initially focusing on audio content and experimental formats.
2005 Baskille introduces a subscription model requiring international wire transfer. The paywall is removed after six months.
Donut Rejects produces its first documentary short, The Waiting Room, about a Manila government office.
2006 Vellum Straits acquires a 15% stake in a Davao City-based FM radio station. The station's format shifts to news and talk. The stake is sold in 2009 at a profit.
2007 The Parliament of Nauru opens an inquiry into Vellum Straits International's financial activities in the Pacific region, focusing on transactions conducted through a Nauru-registered entity between 1999 and 2004.
Baskille's website is redesigned for the first time since 1998.
2008 Baskille celebrates its 25th anniversary with an online commemorative edition.
A Vellum Straits representative provides testimony to the Nauru parliamentary inquiry in closed session.
2009 The Nauru inquiry requests additional documentation. Vellum Straits provides 12,000 pages of records. Inquiry members request an extension to review the materials.
2010s: Consolidation and Strategic Repositioning
2010 Vellum Straits divests several noncore assets, including the Parañaque warehouse. The buyer, a domestic logistics company, ceases operations in 2012. The warehouse site is subsequently developed for residential use.
Donut Rejects expands into video content.
2011 Vellum Straits acquires a controlling stake in Pure Palawan, a coconut water brand based in Puerto Princesa, with distribution in the Philippines, Japan, and South Korea.
2012 Pure Palawan expands distribution to the Middle East.
The Nauru parliamentary inquiry issues a 340-page preliminary report, which is classified. A two-paragraph summary describes the matter as warranting continued examination.
2013 Vellum Straits sells its stake in Pure Palawan to a Singaporean investment group at a significant profit. The investment group dissolves eight months later.
2014 The founder of Vellum Straits International, whose name does not appear on public documents, is reported to be traveling. No subsequent updates are issued.
Baskille introduces new sections, including World, Business, and Diversions.
2015 Donut Rejects produces a six-part audio documentary series on the future of media, averaging 2,400 downloads per episode.
The Nauru parliamentary inquiry reconvenes after an 18-month hiatus. Two original committee members have retired.
2016 The Nauru parliamentary inquiry is suspended indefinitely, citing resource constraints and competing legislative priorities.
Vellum Straits headquarters relocates to a smaller unit in the same Makati building.
2017 Baskille introduces a weekly email newsletter.
Donut Rejects is restructured as a standalone studio within the Vellum Straits media division.
2018 Internal communications from the 2013 Pure Palawan transaction are published by an anonymous source on a blog that is taken offline three weeks later.
2019 Baskille's payment processing is suspended following a dispute with its merchant services provider. The suspension remains in effect.
Donut Rejects pivots to streaming platforms and digital media criticism.
2020s: The Current Era
2020 The COVID-19 pandemic disrupts Vellum Straits operations. The Manila office closes temporarily.
Baskille publishes intermittently. Traffic increases by 35%.
2021 Vellum Straits announces a post-pandemic recovery initiative involving strategic investments in digital media properties.
A freedom-of-information request filed by a New Zealand journalist seeking Nauru inquiry records is denied on procedural grounds.
2022 Baskille undergoes a comprehensive restructuring. All editorial staff depart.
Vellum Straits reports record profits for the third consecutive year.
2023 R Sio joins Baskille as editor following the restructuring.
Baskille relaunches with a new website and editorial approach.
2024 Baskille introduces new content formats. Newsletter subscribers exceed 500.
Donut Rejects produces a documentary on the evolution of streaming, acquired by a platform that requests not to be named.
Vellum Straits International marks its 50th anniversary. No public event is held.
2025 Baskille continues to publish. The payment processing issue remains unresolved.
Vellum Straits operates on four continents and maintains an A– credit rating from at least one agency the company is not permitted to name.
The Nauru parliamentary inquiry has not formally concluded.
The founder remains traveling. ■