The generosity of businessman Henry Sy Sr.
Credit to Author: EMETERIO SD. PEREZ| Date: Thu, 27 Dec 2018 16:19:38 +0000
Del Monte Pacific Ltd. (DELM) reported, in a public ownership report (POR) as of Sept. 30, 2018, two stockholders as owners of 1.197 billion DELM common shares, or 71.31 percent, of 1.944 billion outstanding common shares. These were NutriAsia Pacific Ltd. with directly-owned 1.197 billion DELM common shares, or 61.55 percent, and Bluebell Group Holdings Limited with 189.734 million DELM common shares, or 9.76 percent.
In the same POR, DELM also said of the 1.944 billion outstanding common shares, 13.744 million common shares were directly owned by six directors of the seven-member board. These were Rolando C. Gapud, executive chairman, 2.292 million DELM common shares, or 0.12 percent; Joselito D. Campus, managing director, 7.621 million common shares, or 0.39 percent; Edgardo M. Cruz Jr., executive director, 2.985 million common shares, or 0.15 percent; Dr. Emil Q. Javier, 611,828 common shares, or 0.03 percent; and Benedict Kwek Gim Song, and Godfrey E. Scotchbrook, 117,092 common shares, or 0.01 percent, each.
In said ownership filing, DELM classified Gim Song as lead independent director and three others simply as independent directors, namely, Yvonne Goh, Javier, and Scotchbrook.
DELM named four other officers as holders of 5.751 million DELM common shares, or 0.3 percent.
Minus all DELM common shares held by the company’s two majority stockholders and insiders, DELM attributed to its public stockholders the ownership of 538.189 million DELM common shares, or 27.69 percent.
Quarterly financials
Now Corp. reported in a consolidated financial filing as of Sept. 30, 2018, total revenues of P127.572 million in a three-month period. It said this resulted in gross income of P74.829 million after deducting P35.153 million and P17.591 million, which were the company’s cost of services and cost of sales, respectively, during the period. Based on the same consolidated financial filing, the company succeeded in reducing its deficit to P414.357 million from P421.158 million as of Dec. 31, 2017.
Berjaya Philippines Inc. and its subsidiaries reported in an “interim consolidated statements of comprehensive income” as of Oct. 31, 2018, revenues of P7.249 billion in a period of three months, up P252.579 million, or 3.61 percent, from P6.996 billion in the same period in 2017. These revenues resulted from sales of vehicles, P6.762 billion; rental, P459.548 million; and hotel operations, P27.221 million. Minus “cost and other expenses” of P6.911 billion incurred by 24 accounting entries, the company’s three-month operating profit amounted to P337.929 million, which, in turn, resulted in three-month net profit of P243.732 million, up from P131.802 million in the same period in 2017.
SOC Resources Inc. said its revenues in a consolidated financial filing covering a three-month period as of Sept. 30, 2018 totaled P104.708 million, up 107.37 percent from P50.495 million in the same period in 2017. Its retained earnings totaled P880.611 million divided into appropriated amount of P745 million and P135.611 million, which, it said was unappropriated. Being unappropriated means the amount could be declarable as dividend either in cash or in stock.
Due Diligencer’s take
On Dec. 13, 2018, I thanked Mr. Robert Gabuna for including Due Diligencer in “your daily reading of The Manila Times.” In his comment, he wrote: “I like your concluding query. How humanitarian! – Bob.” The exclamation point belongs to Mr. Gabuna.
Again, thank you Bob for including Due Diligencer in your daily reading of this paper.
I reread the piece about China Bank’s well-paid executives Bob was referring to. Yes, I did write “if it rewarded its 11 directors P225,228,007 in 2017, is China Bank also generous to its rank-and-file employees?” Then I concluded the column with the usual “Just asking.”
Of course, I will never know if China Bank was as generous to its ordinary workers when it expressed its generosity to 11 directors by paying them P225.228 million in 2017.
Again, I salute Bob! Please keep on including Due Diligencer in you daily reading of The Manila Times.
I need to explain why I asked about China Bank’s generosity because I have read good things about businessman Henry Sy Sr. and his family.
When I googled “charity of businessman Henry Sy Sr. family,” I found his Henry Sy Foundation. As the patriarch, Mr. Sy “recognizes the critical role of higher education in development. The Henry Sy Foundation is a significant enabler of Filipino youth and Philippine social development through grants to educational institutions.”
Need I write more about the good deeds of the Sy family patriarch? Why not google them as I did? Just asking.
Email: esdperez@gmail.com
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