I-Remit, Inc.

I-Remit, Inc. (I) is engaged in the business of servicing the remittance needs of overseas Filipino workers. I was incorporated on March 5, 2001 and started commercial operations on November 11, 2001. The Company is a duly registered remittance agent with the Bangko Sentral ng Pilipinas as well as Anti-Money Laundering Act-compliant in all of the countries it operates.

I's list of services also includes auxiliary services such as liasing and coordinating with, and accepting and distributing membership contributions, loan amortization payments, and premium payments to various government and non-government entities such as the Social Security System, the Home Development Mutual Fund, the Philippine Retirement Authority, and the Philippine Health Insurance Corporation, as well as various insurance, pre-need and real estate companies.

The Company's subsidiaries are as follows: International Remittance (Canada) Ltd.; I-Remit Australia Pty. Ltd. and Worldwide Exchange Pty. Ltd., both based in Australia; I-Remit Europe Remittance Consulting, AG in Austria; I-Remit Global Remittance Limited in United Kingdom; I-Remit New Zealand, Limited; and Lucky Star Management Limited and Power Star Asia Group Limited, both based in Hong Kong. I has two affiliates, I-Remit Singapore Pte. Ltd, and Hwa Kung Hong & Co. Ltd.

As of December 31, 2010, I operates in 26 countries and territories worldwide.

Source: SEC Form 17-A (2010)

Attached Files Image(s)
Kung walang drama walang saya Tongue
Talaga bang 1 board lot ka na lang nowadays? Bihira na volume mo ah siguro pag below 3/share baka magkaroon ng volume. Rolleyes Tongue
(06-17-2011, 09:11 PM)Ruach Wrote: Talaga bang 1 board lot ka na lang nowadays? Bihira na volume mo ah siguro pag below 3/share baka magkaroon ng volume. Rolleyes Tongue
Waaaaahgggg me iyak dyan hahahahaha
Matagal na itong di gumagalaw si 110 lang ata ang consistent buyer. Well hopefully wag na siya bumaba para walang iiyak. Smile
Pwde na average down dito coz it declared 10% stock dividend subject to approval na lang ng stockholders on their ASM para di na masyado cry yung sinasabi ni Arthas. Calendar and Ruach dividend thread shows the details of I-Remit dividend declaration. Smile
iRemit opens branches in Italy

Posted at 07/29/2011 12:32 PM | Updated as of 07/29/2011 5:40 PM

MANILA, Philippines - I-Remit Inc., the country's largest Filipino-owned non-bank remittance firm, will open two branches in Italy as part of its aggressive expansion overseas.

iRemit said its unit iRemit Global Remittance Limited obtained authorization from the Financial Services Authority in London and Banca D'Italia of Italy to convert its office in Rome into a branch, which will start operations on August 1. Another branch in Milan will open in about two weeks, it added.

"These Italy branches will not only accept remittances from Filipinos sending to their beneficiaries in the Philippines, but also from Chinese nationals who will be sending to their beneficiaries in China," said iRemit.

The company said it hopes to capture a market of 175,000 Filipinos who reside in the cities and outlying areas of Italy as it continues to expand in the European country.

iRemit said it is also eyeing other parts of Europe after it received its license as an authorized payment institution under the European Payment Services Directive, a legislation adopted by the European Union that harmonizes all laws pertaining to payment services in the economic area.

"As an authorized payment institution, iRemit can exercise passporting rights and is entitled to conduct its activities by establishing money remittance branches and providing cross-border services in the 29 European states," it said, noting that there are almost 700,000 Filipinos residing in Europe.

iRemit currently operates in 26 countries worldwide.
If it doesn't feel right, don't do it!
Clarification of news article: "i-Remit sees doubling of net income this year"

Confirmation of the above profit growth is the general estimate of income performance for the year of the Company which may be affected by external factors such as forex, deployment of OFW etc.

mamalayan mo na lang 4 pesos na to. di masyado pansin ang pag akyat. busy sa mge ceiling members.
If it doesn't feel right, don't do it!
Posted on August 18, 2011 08:52:09 PM

iRemit profit climbs 38% due to higher forex income\

PROFITS OF cash transfer firm, I-Remit, Inc. (iRemit) climbed by around 38% in the first half due to an increase in number of transactions and foreign exchange income.
In a report to the stock exchange, iRemit said it had booked a consolidated net income of P62 million in the January to June period, up from P44.9 million in the same period last year.

“We saw a higher volume of transactions during the period, although the increase in terms of the revenue was due to the foreign exchange income,” iRemit President and Chief Operating Officer Harris Edsel D. Jacildo told BusinessWorld in a phone interview yesterday.

The company’s revenue increased by around 13% to P413.8 million from P366.4 million as transactions rose up by 3.2% and dollar remittance volume climbed by 8.9%.

“With the higher volume of transactions, we earned higher service fees for the first six months, which increased our revenue for the first semester,” Mr. Jacildo said.

“For the US dollar transactions, the higher volume of money remitted through our services translated to a higher foreign exchange income for the company,” he added. -
If it doesn't feel right, don't do it!
mabuhay! hihihiBig Grin
Trading stocks using technical analysis can be profitable if you understand the secrets that professional traders know.


Forum Jump:

Users browsing this thread: 1 Guest(s)