Suntrust Home Developers, Inc.
#1
Business Profile:

Suntrust Home Developers, Inc. (“the Company”) was incorporated under Philippine laws and registered with the Securities and Exchange Commission (“SEC”) on 18 January 1956 under the name Ramie Textiles, Inc. It was originally authorized to engage in the manufacturing and sale of all types of ramie products. The Company has since amended its Articles of Incorporation, with the principal changes being highlighted below, as it sought to identify investment opportunities that will yield attractive returns. These changes resulted in the Company’s present nature of business of engaging in the business of real estate development, mass community housing, townhouses and horizontal land development.

The Company, currently, does not have any business operations and is not offering any product or service. Although the Company has expressed preference for mass housing development and is continuing to study a proposal to raise funds for its initial business ventures, it is also in the process of assessing its prospects in other fields.

Thus, it is premature, and the Company is not prepared at this time, to identify and describe what business it proposes to do and what products, goods or services will be produced or rendered; its principal products or services and their markets with the relative contribution to sales or revenues of each product or services or group of related products or services; percentage of sales or revenue and net income contributed by foreign sales; distribution methods of products or services; competition; sources and availability of raw materials and the names of principal suppliers; and the Company’s dependency on its customers.

Since the Company has not identified the industry in which it will engage in, it is likewise not in the position to discuss any government approval required for its principal products or services or the effect of existing or probable governmental regulations on its business.

The Company’s associate, SPI, is engaged in the real estate business principally offering house-and-lot packages and condominium units. It is currently developing the Governor’s Hills affordable housing project in General Trias, Cavite, the Sunrise Hills project in Dasmariñas, Cavite, Sta. Rosa Heights project in Silang, Sta. Rosa, Laguna, and Suntrust Adriatico Gardens project, in Malate Manila. Compared to other players in the industry, SPI caters to the low to middle income sector of the market since it focuses on space saving and functionality features delivering a high standard of comfort and style customized to the needs of Filipino families.

About 85% of SPI’s revenue is generated from its mass housing subdivisions while the remaining 15% come from sale of condominium units as well as from other income. While SPI does not have established foreign marketing branches, significant portion of its sales is identified with the foreign market particularly composed of overseas contract workers. SPI’s marketing network is comprised of in-house sales force as external brokers and its suppliers are based locally. SPI employs a modern construction technology known as the 3D monolithic panel system.

The Company or SPI is not dependent upon a single or a few customers. No single customer accounts for 20% or more of SPI’s sales.

In normal course of business, the Company entered into transactions with related parties, consisting mainly of advances from related parties for working capital purposes and for the settlement of certain liabilities.

The Company has advances from Empire East Land Holdings, Inc. amounting to P25,503,746.

The Company does not hold any patent, trademark, copyright, license, franchise, concession or royalty agreement upon which their operations are dependent.

Source: Annual Report 2010

As of March 31, 2011 and December 31, 2010, Megaworld Corporation (Megaworld), also a publicly listed Company, is the major stockholder with 42.48% ownership interest in the Company.

Source: Q12011 Financial Report
RESULTS OF OPERATION

Three months ended March 31, 2011 Compared to Three months ended March 31, 2010

The company's total revenues exhibited an increase of 1.29 million or 233.76% from 553.14 thousand in 2010 to 1.85 million in 2011 of the same period. Total revenues mostly came from equity share of 1.67 million in net earnings of an associate.

Cost and expenses decreased by 178.42 thousand or 21.05% from 847.61 thousand in 2010 to 669.19 thousand in 2011. Decrease in expenses is mainly due to lower cost of rentals for the current period.

The net results of the company shows an increase of 1.47 million or 499.69% from 294.47 thousand net loss in 2010 to 1.18 million in 2011.

Source: Q12011 Financial Report


Attached Files Image(s)
   
Reply
#2
Top Gainer today! I think SUN and ELI really wants to go up high and of course Commander will be super happy. Tongue (me too....Big Grin )
Reply
#3
^^...hihihi shhhhh Smile


Reply
#4
...parabolic Big Grin sana, along with pax hehe


Reply
#5
...much like with DMC-SCC relations, ELI-SUN also has the same connection...a play in one, necessitates one to look at the other...see may kumakain sa 0.54? this is not an endorsement, just my own observation...


Reply
#6
(06-17-2011, 11:50 AM)Ollie Wrote: ...much like with DMC-SCC relations, ELI-SUN also has the same connection...a play in one, necessitates one to look at the other...see may kumakain sa 0.54? this is not an endorsement, just my own observation...

Absolutely correct Commander so the first thing to check is ELI, if you think ELI is going to rally, automatic dapat ang tingin kay SUN as to support levels, TP etc.

Pero pansin mo ba Commander, pag pababa si Meggy, yung mga babes niya ang nag-uptrend? Big Grin Tama ba basa ko?. Tongue

Maya, may sulat ako sa ELI. Big Grin

Reply
#7
maganda ba projects ng Suntrust? meron silang new project near makati mandaluyong bridge and affordable pa prices. gusto ko sana bumili. sa Empire East kasi, mejo pangit ang serbisyo. nakatira ako ng 1 year sa California Garden, hindi ganun kalinis ang mga hallway at hindi ganun katitibay ang materials na ginamit. sira agad pinto, tiles, shower, etc.

saka kung ang ayala is.. ayala land premier - alveo - avida -amaia
at ang Villar is.. brittany - crown - camella - vista - communites

paano order ng properties ni andrew tan in terms of "prestige?"
Reply
#8
For the first five months, Megaworld, including units Empire East Land Holdings and Suntrust Home Developers, sold real estate projects worth P17 billion.

http://www.malaya.com.ph/june20/busi6.html

Reply
#9
The SUN talaga shines in the midst of bagyo. Pag tapos ni SUN may powers na naman si ELI. Tongue
Reply
#10
Amat, watch SUN from now on....
Reply


Forum Jump:


Users browsing this thread: 2 Guest(s)