Filinvest Development Corporation

...papano na yung casino plan nitong mga 'to kung ayaw na ni Duterte?

FDC doubles profit in Q2

FILINVEST Development Corp. doubled its net income attributable to equity holders of the parent company to P3.4 billion in the second quarter, from P1.74 billion during the same period a year ago, on strong real estate sales.

In a regulatory filing, the Gotianun-led holding company said its attributable net income rose 66% to P5.42 billion during the first six months of 2018, from P3.26 billion a year ago.

Second-quarter revenues stood at P19.2 billion, up 21%, bringing the six-month figure to P36.45 billion, up 12%.

The real estate business under Filinvest Land, Inc. accounted for the bulk of revenues. For the April to June period, real estate operations generated P7.65 billion in revenues, 56% higher than the same period a year ago.

For the first half, real estate revenues climbed 31% to P14.84 billion, “backed by a 30.9% growth in real estate sales and 29.9% growth in rental and related services.”

This brought net income from real estate operations 60% higher to P4.69 billion for the first semester, from P2.9 billion a year ago.

FDC’s banking and financial services business recorded a first-half net income of P2.03 billion, 14% lower than last year’s figure due to lower-than-expected results from East West’s rural bank unit.

Power generation operations, under FDC Utilities, Inc., saw a 234% surge in six-month net income to P765.7 million, as revenues from coal power plant and retail electricity operations grew by 29%.

Net income from FDC’s sugar business jumped 62% to P327.4 million for the first six months, as sugar sales improved.

Hotel operations posted a 26% rise in profit to P93.3 million as of end-June 30. Filinvest Hospitality Corp. has 1,591 rooms in four properties under the Crimson and Quest brands.

“We believe that our investments in power and infrastructure can yield returns that balance out our more cyclical business segments. Steady and stable revenues from the rental, power, sugar and infrastructure sectors will help to smooth out the waxing and waning of the business cycle. In addition, investing in airport infrastructure will complement our projects in hospitality and BPO rental properties,” FDC President and CEO Josephine Gotianun Yap was quoted as saying in a separate statement.



...parang walang pumapansin nito? 

Earnings of Gotianun-led FDC surge in 3rd quarter

FILINVEST Development Corp. (FDC) reported a 68% growth in attributable profit for the third quarter of 2018, as its banking, property, power generation, sugar, and hotel operations all posted higher revenues for the period.

In a regulatory filing, the Gotianun-led holding firm said net income climbed to P2.49 billion, against P1.48 billion generated in the same period a year ago. This followed an 11% uptick in revenues to P17.79 billion.

On a nine-month basis, FDC’s attributable profit expanded by 67% to P7.92 billion. Revenues meanwhile rose 12% to P54.24 billion.

“Our investments in power, property, and in the bank infrastructure is now being reflected in the healthy increase of FDC’s net income,” FDC President and Chief Executive Officer Josephine Gotianun-Yap.

“While we are always managing risk in our subsidiaries, adding investments in power and infrastructure further allow us a more balanced portfolio with the defensive industries recompensing the business segments that are more exposed to the ups and downs of the economic cycle.”

FDC’s property units drove its growth for the period, as Filinvest Land, Inc. (FLI) grew its net income by 14% to P4.22 billion. Revenues went up by 10% to P15.98 billion.

FLI benefited from the strength of rental revenues, which jumped 28% to P4.04 billion. This offset the flat real estate sales at P10.34 billion. The listed property developer said it remains on track to reach it 1.5-million square meter target in terms of gross leasable area by 2022.

Power unit FDC Utilities, Inc. generated P6.3 billion in revenues in the nine-month period, boosted by the 25% increase in sales from its power plant in Misamis Oriental coupled with retail electricity operations.

Listed banking subsidiary East West Banking Corp. delivered a net income of P3.2 billion, 13% lower year-on-year due to the lower contribution of wholly-owned subsidiary EastWest Rural Bank (EWRB). The rural lender suspended lending activities to teachers as it waited for new guidelines from the Department of Education.

Without EWRB, EastWest’s net income would have gone up 6% on a yearly basis.

FDC is banking on the continued growth of its property and hospitality units moving forward, with several projects in the pipeline. For instance, Filinvest Hospitality Corp. is currently constructing 1,700 rooms across eight new hotels, in addition to its existing networked of 1,591 hotel rooms.

The conglomerate is also redeveloping the former Clark Mimosa Estate into Filinvest Mimosa+Leisure estate, which strengthens its foray into leisure development.


pinansin mo kasi comm
(11-22-2018, 12:21 AM)es55 Wrote: pinansin mo kasi comm

...kumita ka ba dito? Tongue

comm mahaba pa ang biyahe nito. sit tight. dont' ... banana

Filinvest-JG Summit’s Clark airport bid to be endorsed to NEDA

THE Department of Transportation (DoTr) said it will endorse the North Luzon Airport Consortium’s (NLAC) bid to take over the operations and management of Clark International Airport to the National Economic and Development Authority (NEDA) next week.

“Meron nang nanalo doon eh. Isu-submit na namin sa Wednesday. Yung grupo ng Changi airport… Isu-submit sa NEDA [A group already won the bidding. We’ll submit it on Wednesday. It’s the group of Changi airport. We’ll submit to NEDA],” Transportation Secretary Arthur P. Tugade told reporters on Friday when asked for updates on the Clark Airport O&M bidding.

NLAC is comprised of Gotianun-led Filinvest Development Corp., Gokongwei’s JG Summit Holdings, Inc., Philippine Airport Ground Support Solutions, Inc. and Changi Airport Philippines.

The Bases Conversion and Development Authority (BCDA) qualified two bid submissions on Nov. 9 for the 25-year concession period to operate the airport.

Aside from NLAC, the X-Droid Consortium, formed by Indonesia’s Angkasa Pura II, Michael L. Romero’s Globalport 900, Inc., Alfredo M. Yao’s Mazy’s Capital, Inc. and Desco, Inc. submitted a bid.

In the opening of technical documents on Nov. 19 and of financial documents on Nov. 27, both live streamed on the Facebook page of BCDA, only NLAC’s submissions were opened. Its financial bid promised an 18.25% percentage share of gross revenue to the government, above the minimum requirement which is 10%.

X-Droid’s submissions were not opened, without providing explanations why. A BCDA representative told BusinessWorld on Friday it cannot issue a statement on the developments of the bidding until the whole process is complete.

Based on Sections 9.1 and 9.3 of the Build-Operate-Transfer Law, a bidder is subjected to direct negotiation with the NEDA Investment Coordination Committee if it is the only participant left compliant to bid requirements.

Special Bids and Awards Committee (SBAC) Chairperson Joshua M. Bingcang said last month the awarding of the O&M contract is targeted this December.



Changi-led consortium wins contract to operate Clark airport

THE government on Thursday awarded the operations and management contract for the Clark International Airport in Pampanga to a consortium that includes the operator of Singapore’s Changi Airport, as well as the Gokongwei and Gotinanun groups.

In a statement, the Bases Conversion and Development Authority (BCDA) said the contract was awarded to the North Luzon Airport Consortium (NLAC), which comprises Changi Airports Philippines Pte. Ltd., Filinvest Development Corp.; JG Summit Holdings, Inc.; and Philippine Airport Ground Support Solutions, Inc.

This came after the National Economic and Development Authority Investment Coordination Committee (NEDA-ICC) gave the go signal for the award during its Dec. 19 meeting.

Special Bids and Awards Committee (SBAC) Chairperson Joshua M. Bingcang told BusinessWorld the signing of the O&M contract is slated for January.

“In our award notice to them, we gave them 20 days to submit post-award requirements like performance security, evidence of registration with SEC (Securities and Exchange Commission), etcetera. They need to submit those (before the signing of the contract),” Mr. Bingcang said in a phone interview.

NLAC submitted a financial bid committing an 18.25% annual gross revenue percentage share to the government, almost twice the minimum requirement set by the NEDA Board at 10%.

The consortium is set to take over both the existing passenger terminal at the Clark airport and the new one that Megawide Construction Corp. and GMR Infrastructure Ltd. (Megawide-GMR) is building. The contract will run for 25 years.

Aside from NLAC, another group comprised of Indonesia’s Angkasa Pura II, Michael L. Romero’s Globalport 900, Inc., Alfredo M. Yao’s Mazy’s Capital, Inc. and Desco, Inc. — collectively called X-Droid Consortium — also participated in the bidding. It was disqualified after having found eight deficiencies in its qualification documents.

Mr. Bingcang said the X-Droid Consortium was given 15 days to appeal its disqualification, which the group did not exercise until the period lapsed.

Earlier this year, Filinvest and JG Summit also submitted a P839-billion unsolicited proposal to develop the Clark airport, but was rejected because of the government’s plan to bid out the O&M contract.


equity offering planned ...
Although car business finances might be tricky to finance today as we have seen increased volatility in car market lately, real estate business will always bring high level of profits. This is why this company might be an good option for portfolio diversification

Forum Jump:

Users browsing this thread: 1 Guest(s)