Filsyn’s deficit up P660M to P1.804B
Credit to Author: EMETERIO SD. PEREZ| Date: Tue, 03 Sep 2019 17:33:37 +0000
Golden Bria Holdings Inc. (GBHI) has only one subsidiary/affiliate, Bria Homes Inc. It listed Fine Properties Inc. as the parent company in a general information sheet (GIS) for 2019. It has authorized capital stock (ACS) consisting of 996 million common shares with par value of P1 each and 400 million preferred shares with par value of P0.01 each.
As a listed company, Golden Bria has 644,117,649 outstanding common shares which are listed on the Philippine Stock Exchange (PSE). It has a free-float level of 10.89 percent, which is equivalent to 70,144,411.976 common shares.
A public ownership report dated July 31, 2019 listed Fine Properties as direct holder of 412,057,800 GBHI common shares, or 63.97 percent of 644,117,649 outstanding common shares, and Cambridge Group Inc., which directly owned 150 million GBHI common shares, or 23.29
percent, and, indirectly owned 8,744,255 GBHI common shares, or 1.36 percent.
Fine Properties and Cambridge combine for ownership of 570,802,055 GBHI common shares, or 88.62 percent.
Golden Bria had six stockholders, according to the company’s GIS. Five of them held 644,061,887 common shares, or 99.991 percent of outstanding common shares. It has only one foreigner stockholder who held 55,762 common shares, or 0.00866 percent. (The GIS shows 644,061,887 as equivalent to 99.96 percent, and 55,762 as equivalent to 0.04 percent.)
Incidentally, Golden Bria’s outstanding common shares represent its entire issued and listed common shares of 644,117,649.
On Sept. 2, 2019, Golden Bria common shares opened trading at P436.80, hit a high of P455, fell to a low o P412, and closed the session at P449.80. The stock peaked at 30-day high of P483 and recorded a 30-day low of P410.20
Ownership profile
Asia United Bank Corp. (AUB) has 500 million common shares as the bank’s authorized capital stock with par value of P10 each. According to the bank’s general information sheet (GIS), AUB had 485,310,538 outstanding common shares and 108 Filipino stockholders, who owned 381,276,670 AUB common shares, or 78.56 percent, and 10 foreigners, who held 104,033,868 AUB common shares, or 21.44 percent.
The bank’s GIS listed Republic Biscuit Corp. as AUB’s largest stockholder with 158,399,535 common shares, or 32.64 percent, followed by Kuo Yu Holdings with 90 million AUB common shares, or 18.54 percent. Lambda Holdings Corp. was the third biggest stockholder with 71,999,850 common shares, or 14.84 percent.
As record stockholder, PCD Nominee Corp. held for Filipino beneficial owners 38,814,321 AUB common shares, or 8 percent. It was also a record stockholder of 27,481,759 common shares, or 5.66 percent, for foreigners
The other AUB stockholders included Citio Maunlad Investment Corp., 21.6 million AUB common shares, or 4.45 percent.
Foreign companies also held AUB common shares. Among them were Mega Lions International Limited, with 19,802,265 common shares, or 4.08 percent; Dragon Bridge Ltd., 19,617,660 AUB common shares, or 4.04 percent; Global Prime Holdings Pte. Ltd., 18,951,945 common shares, or 3.91 percent; and Magis Equity Ventures Pte. Ltd., 18 million common shares, or 3.71 percent.
On Aug. 30, 2019, AUB common shares traded throughout the session at P57. The stock hit a 30-day high of P59 and dropped to a month’s low of P54.60. The stock peaked at 30-day high of P59 and a month’s low of P54.60.
No majority
In a definitive information statement (DIS), Filsyn Corp. (FYN) said it has 206,246,181 outstanding common shares. The company listed four stockholders: Trans-Pacific Oriental Holdings Co., 63,578,181 common shares, or 30.83 percent; Far Eastern Investment Holding Ltd., 45,065,670 common shares, or 21.85 percent; Waldorf Services B.V., 20,512,820 common shares, or 9.94 percent; and Chinatrust (Phils.), under Escrow A/C No. 269-4, 12,913,678 common shares, or 6.3 percent.
In an explanatory note, Filsyn said it “has no parent company which holds at least 51 percent of the total outstanding capital.”
The company added in the same footnote: The persons who have the right to vote are Atty. Ma. Belina B. Mariano for Trans-Pacific Oriental;
David Wang for Far Eastern Investment and Waldorf Services; and Gerardo V. Bien for Chinatrust.
As Filsyn president and member of the nine-person board, Jaime M. Sto. Domingo received P1.582 million in 2018; P768,000 in 2017; and P614,000 in 2016.
The company explained that Sto. Domingo “is the only director and executive officer who is receiving salary from the corporation.” Filsyn estimated his compensation for 2019 at P1.5 million.
Filsyn, which is supposed to hold its annual stockholders’ meeting in April 2019, added that “each director received per diem for 2018 and 2017 amounting to P24,000/director for each year.” It rescheduled said meeting on Sept. 26, 2019.
The company reported accumulated deficit of P1,804,406,000 in a financial filing as of June 30, 2019. The amount is up from P1,803,746,000 based on SGV’s audit as of Dec. 31, 2018.
Trading on Filsyn common shares remains suspended since Aug. 5, 2002.
Email: esdperez@gmail.com