Filinvest Land, Inc.

Formerly Citation Homes, Inc., Filinvest Land, Inc. (FLI) was incorporated on November 24, 1989 to engage in real estate development. The Company later changed its name to the present one on July 12, 1993, and started commercial operations a month later after Filinvest Development Corporation, the parent company, spun off its real estate operations and transferred all related assets and liabilities to FLI in exchange for shares of stock of FLI.

The Company provides a wide range of real estate products to customers, namely, socialized, affordable, middle-income and high-end residential lots and housing units, medium-rise residential buildings, condotels, industrial parks, leisure development such as farm estates, a residential resort development and a private membership club.

FLI's wholly owned subsidiaries consist of Property Maximizer Professional Corporation, Property Specialists Resources, Inc., HomePro Realty Marketing, Inc. and Leisurepro, Inc. FLI is also involved in a number of joint ventures through Filinvest Asia Corporation, Cyberzone Properties, Inc. and Filinvest AII Philippines, Inc.

Source: SEC Form 17-A (2009)

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The government remains keen on selling the Food Terminal Inc. (FTI) property in Taguig within the year.

John Philip Sevilla, Finance undersecretary for privatization and the Corporate Affairs Group, told reporters the Aquino administration was looking at an “outright sale.”

“The P13-billion floor price remains the same as of this time,” Sevilla said.

The Arroyo administration tried to sell the property, too, at the same price but there were no bidders.

There are reports that big property developers Ayala Land Inc., SM Group, Robinsons Land Corp., Megaworld Corp. and Filinvest Land Inc. have all “formally” expressed interest in the property but nothing concrete has been made so far.

Sevilla clarified that FTI’s privatization plan has not been put on hold, contrary to reports, but was just delayed since the Aquino administration has been preoccupied with its Public-Private Partnership Program.

The Aquino administration said it was privatizing FTI to boost the country’s economic activity.

“In terms of raising revenues, the privatization of FTI is not urgent, but in terms of boosting the economy, yes, it is important that it is privatized this year. About 75 percent of the property is currently idle…somebody else could be investing there,” Sevilla said.
Filinvest Land to issue P3-B bonds

PROPERTY developer Filinvest Land Inc. (FLI) has obtained regulatory approval to sell P3 billion worth of bonds to finance its expansion.

The offer period for the five-year bonds started on Monday and will end on June 30, FLI said in a disclosure to the Philippine Stock Exchange on Monday. The issue date is set on July 7.

The bonds will yield an interest of 6.196 percent per annum, the company said. Issue manager and underwriter is Unicapital Inc. while East West Banking Corp. is the selling agent.
Anybody know where we can we find home sales or metrics regarding our housing industry? Is it release quarterly, semi-annually or annually?
The World is a Vampire . . .
looking at this stock.
The World is a Vampire . . .
FLI raises P3B for capex

MANILA, Philippines — Filinvest Land, Inc. (FLI) has successfully raised P3 billion from its unsecured fixed-rate peso denominated debt securities (Retail Bonds) which closed on June 30 and was issued on July 7.

In a disclosure to the Philippine Stock Exchange, FLI said the bonds have a term of five years and three months and have a yield of 6.1962 percent per annum. The bonds were more than two times oversubscribed.

Philippine Rating Services Corporation (PhilRatings) assigned the highest rating of PRS Aaa for these bonds as well as the P5 billion worth of three-year and five-year bonds issued in November 2009.

Issue manager and underwriter for the P3 billion bonds is Unicapital Incorporated and selling agent is East West Banking Corporation.

Proceeds from the bonds will partially finance FLI’s capital expenditures for 2011. Earlier this year, FLI disclosed that its capex budget for 2011 is P12 billion, more than double the P5-billion capex in 2010.

PhilRatings said the ratings assigned reflect the strong growth of FLI’s real estate revenues and higher recurring income from the company’s leasing operations; conservative debt position; and financial flexibility.

The rating also reflects the company’s diversified portfolio; established brand name; and favorable industry conditions, the ratings agency said.

In the next five years, PhilRatings said FLI’s forecast hikes in real estate revenues will come from the strong performance of the affordable, middle-income and high-end segments.

MRBs such as Bali Oasis, Capri Oasis, Maui Oasis, One Oasis-Cebu and Amalfi Oasis located in the SRP will enjoy brisk sales.

There will also be an increase in rental income which will come from higher lease rates, the expansion of the Festival Supermall (by an additional 44,000 sq. m.), the turnover of Vector Two Building, the construction of another BPO building in the Northgate Cyberzone and leases at the SRP project in Cebu.

FLI’s debt to equity ratio remained conservative at 0.29x as of end December 2010. This was a result of the relatively unchanged debt level and the build up of retained earnings. Even with the issuance of the P3 billion in additional bonds in 2011, debt to equity ratio is expected to remain conservative.

In 2011, capital expenditure funding will come from internally-generated funds and additional loans. PhilRatings said FLI’s sound debt profile provides flexibility in terms of obtaining additional loans should these be required. (James A. Loyola)

If I'm a business owner, I would send lechon to these guys every time I go out and borrow money...

They give out the best credit ratings money can buy hehe!
The World is a Vampire . . .
[Image: fli-7-8-11.jpg]
FILINVEST LAND, INC. (PSE:FLI)- Potential Bearish Gartley.

More details in the blog.
...pati 'to nakikinabang sa rise ni MEG, always...kaya maganda din monitor to eh...monitor sabi ko ha? yung buy sa inyo yan...

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Well, they have to push up property stock due to the most probable increase in interest rate tomorrow ..Then...BOOM!!!!!!..a big crash..well u have the chance to unload tomorrow coz BSP's monetary board meeting result would come out in the afternoon.

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