Property Company: Robinsons Land Corporation (LRC)

Robinsons Land Corporation (RLC) was incorporated on June 4, 1980 to serve

as the real estate investment arm of JG Summit Holdings, Inc. RLC is engaged
in the development and operation of shopping malls and hotels, and the
development of mixed-use properties, office and residential buildings, as well as
land and residential housing developments, including socialized housing
projects located in key cities and other urban areas nationwide. RLC's operations
are divided into four business divisions such as the commercial centers,
residential, office buildings, and hotels.
Robinsons Land Corporation is a one of the well-known company in Philippines
however the capital structure of this company is well financed. Based on the
financial statement of RLC for the 2nd quarter of year 2016 the company
consolidated net income attributable to equity holders of Parent Company for the
period ended March 31 amounted to P=3,200.3 million, up by 14.4%. EBIT and
EBITDA rose by16.7% and 15.2% to P=4,296.2 million and P=5,978.3 million,
respectively, for the six months ended March 31, 2016.
Total real estate revenues were up by 13.1% to P=9,953.2 million against last
years P=8,803.2 million, while hotel revenues were up by 4.5% to P=926.4
million. Detailed analyses of the various segments are presented in the
succeeding paragraphs.
Real estate cost went up by 11.9% to P=4,371.9 million while hotel expenses
were up by 2.6% to P=661.0 million due to the expenses of the new hotels.
General and administrative expenses were up by 6.3% to P=1,550.5 million
because of higher taxes and licenses and salaries and wages, among others.
Meaning all statements are in good terms. However RLC has six wholly-owned
consolidated subsidiaries, one 80%-owned subsidiary and two 51%-owned
subsidiaries. Those subsidiaries helps to raise the RLC Company at its finest.
Due to the availment of short term loans Cash and Cash Equivalents increased
by 249.2% to P=4,165.6 million Subdivision Land and Condominium and
Residential Units slightly increased by 0.7% to P=15,585 million. Receivables
(current and non-current) were up by 22.4% to P=9,460.0 million due to higher
volume of buyers meeting the equity requirement needed for revenue recognition.
Other assets (current and non-current) increased by 118.3% mainly due to the
acquisition of land use right to a property located in Chengdu Province, China.
Accounts payable and accrued expenses were higher by 77.4% to P=11,707.0
million due to dividends payable of P=1,473.8 million and higher level of
expenditures. Deposits and Other Liabilities (current and non-current) increased
by 10.8% to P=9,371.4 million due to additional tenants deposits. Short-term
loans increased by P=9,722.6 million to P=12,771.5 million mainly due to
availment of foreign-currency denominated loans.
As of March 31, 2016, total assets of the Company stood at P=116,932.2 million
while total equity amounted to P=58,520.4 million. RLCs financial position
remains solid, with a debt to equity ratio of 0.60:1 as of
March 31, 2016 and 0.44:1 as of September 30, 2015. Cash stood at P=4,165.6
million and
P=1,193 million as of March 31, 2016 and September 30, 2015, respectively.
Current ratio stood at 1.03:1 from last years 1.98:1. Earnings per share for the
first half of this year improved to P=0.78 per share from last years P=0.68 per
share. Net book value excluding minority interest in consolidated subsidiary
stood at P=14.26 per share as of March 31, 2016 compared to P=13.84 per share
as of September 30, 2015.
Due to the wide scope of variation of RLC Company, the larger the scope the
higher risk or investment that they need to rendered because it will make their
company to be successful and maintained their famous corporation name. They
continue to manage their financing activities and their investments to keep their
firms growth and well developed.
Utility company: Philippine Long Distance Telephone (PLDT)
PLDT or Philippine Long Distance Telephone Company and Subsidiaries is the
leading telecommunications and digital services provider in the Philippines.
Through its principal business groups fixed line, wireless and others PLDT
offers a wide range of telecommunications and digital services across the
Philippines most extensive fiber optic backbone, and fixed line and cellular
networks.

PLDT is listed on the Philippine Stock Exchange (PSE:TEL) and its American
Depositary Shares are listed on the New York Stock Exchange (NYSE:PHI). PLDT
has one of the largest market capitalizations among Philippine listed companies.
As being one of the leading telecommunications and digital provider in the
Philippines PLDT has ongoing, sizeable capital expenditure in its
telecommunication network.
PLDT continuing their plans to become a strong digital and internet player in the
Philippines. Many people are anticipating that the telecom service provider will
sustain investments to support this strategy.
PLDT's strong balance sheet can accommodate the company's sizable capital
spending over the next two years. Based on the global rating the company's
liquidity changed to "adequate" from "strong."
Based on what I saw in the article made made by Rappler, PLDT's core income
for the 2nd quarter of 2017 increased to P12.1 billion from P10.5 billion in the
same period a year ago. However, the PLDT Incorporated will award a total of
860,000 common shares to its key officers and employees who contribute to
its long-term transformation and financial goals. Their ability to reward will
make a big impact to increase their sales/ income. Its board approved its
transformation incentive plan, which is intended to provide incentive
compensation to key officers, executives, and other eligible participants who are
consistent performers and contributors to the achievement of its long-term goals.
As of May 2016 ratings, PLDT has a strong state of business risk such as
dominant player in the Philippines with sound business diversity across wireless
and fixed-line services, solid growth potential for data and broadband services,
bulk of revenue is from the matured home market and operations in a
competitive cellular telecom market. And also In terms of financial risk it has a
moderate state from which robust recurring free operating cash flows, limited
tolerance for debt, potential acquisitions and sizable recurring returns to
shareholders.

The stable outlook over the next 12 months reflects our view that PLDT will
continue to generate free operating cash flows over the next two years despite
heavy capital expenditures, and that the company's acquisitions and returns to
shareholders combined will not exceed PHP45 billion that we have factored in
our base case.
PLDT sees their need to development and improvement from the long term debt.
They used debt capital as their capital structure which tt is a loan made to a
company that is normally repaid at some future date. Debt capital ranks higher
than equity capital for the repayment of annual returns. This means that legally,
the interest on debt capital must be repaid in full before any dividends are paid
to any suppliers of equity.
PLDT will continue to make some investments and acquisitions to companies or
other businesses in able to improve their status as well as their growth.
Food company: Jollibee Food Corporation (JFC)
Jollibee Foods Corporations (JFC or the Company) core business is the
development, operation and franchising of its quick-service restaurant brands.
It offers a wide variety of affordable and delicious dishes and great tasting food
prepared to satisfy customers of all ages and from all walks of life. Food quality,
service, price-value relationship, store location and ambience, and efficient
operations continue to be critical elements of the Companys success in the
quick-service restaurant industry.
Jollibee is the largest fast food chain in the Philippines, operating a nationwide
network of more than 750 stores. A dominant market leader in the Philippines,
Jollibee enjoys the lions share of the local market that is more than all the other
multinational brands combined. The company has also embarked on an
aggressive international expansion plan, and currently has 80 stores outside the
Philippines-USA (26), Vietnam (32), Brunei (11), Jeddah (7), Qatar, Hong Kong,
and Kuwait (1 each), firmly establishing itself as a growing international QSR
player.
Jollibee Foods Corporation, together with its subsidiaries, develops, operates,
and franchises quick service restaurants in the Philippines and internationally.
It offers a range of dishes and food products. The company operates quick service
restaurants under the Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal,
Burger King, Yonghe King, Hong Zhuang Yuan, Superfoods, Smashburger,
Dunkin Donuts, and 12 Hotpot names.
With the help of the JFCs sister companies that are indicated Jollibee Foods
Corporation may be able to extent their scope to be recognized by others and
help to spread out their branches.
The chairman of the board of JFC which is Tony Tan Caktiong, acknowledge the
stockholders of their corporation said that clear progress on a number of
strategic fronts that will strengthen our core businesses and drive both near-
and long-term value of our customers and shareholders. JFC will continued to
expand their brands and business presence across various geographies, through
organic growth and acquisitions in order to accelerate growth and profitability.
2015 was challenging for the Jollibee brand, particularly in the first half of the
year, arising largely from pricing concerns and pressure from competition.
Amidst these challenges, Jollibee was able to recover in the second half and
continue with its growth path ending the year with a high single-digit growth in
system wide sales. During the year, 67 new stores were opened, the highest in
Jollibees history.
During the year, the Company made significant investments necessary to
strengthen their core businesses and drive both near and long-term value for
their customers and shareholders. These investments were associated with the
information technology upgrade, the increase in their network development
organization, the acquisition of Smashburger and the extra supply chain and
logistics costs needed to support their business in the Philippines that has been
growing faster than we anticipated. These costs adversely affected JFCs net
income attributable to equity holders of the Parent Company which declined by
8.1% compared to 2014 while Earnings per share declined by 9.0%. JFCs net
cash position improved significantly, from Php0.6 billion in December 2014 to
Php2.4 billion in December 2015 despite the acquisition of 40% of Smashburger
for US$100.3 million (or Php4.7 billion) in October 2015, primarily due to
reduction in working capital level.

JFC continued their commitment to deliver value to shareholders by returning

Php1.77 per share or a total of Php1.9 billion in cash dividends, representing a
dividend payout of 38.3%. The JFC stock price grew by 1.9% in 2015 compared
to the Philippine Stock Exchange Index which declined by 3.9%. JFCs stock
price to earnings ratio rose to 47.4 times. They continue to have great confidence
in the long-term success of JFC. They believe that with their clear strategic focus
and top-notch and dedicated teams, they will continue to deliver industry-
leading results in the future.
Mining company: Philex Mining Corporation

Philex Mining Corporation (PMC or the Company) and its subsidiaries are
organized into two main business groupings: the mining business, which is
directly under PMC, Philex Gold Philippines, Inc. (PGPI) and Silangan Mindanao
Mining Co., Inc. (SMMCI), and the energy and hydrocarbon business under PXP
Energy Corporation (PXP), formerly Philex Petroleum Corporation, but not until
July 15, 2016, when PXP and its subsidiaries ceased to be subsidiaries of PMC
as a result of loss on control through property dividend declaration. Thus, as of
December 31, 2016, the Groups mining business remains as its only business
segment.

The Company was incorporated in the Philippines in 1955 and has been listed
in the Philippine Stock Exchange since November 23, 1956. PMC, PGPI (a wholly-
owned subsidiary incorporated in the Philippines) and Silangan Mindanao
Exploration Co., Inc. (SMECI, a wholly-owned subsidiary incorporated in the
Philippines) and its subsidiary, SMMCI, are primarily engaged in large-scale
exploration, development and utilization of mineral resources.

PMC has been operating the Padcal Mine in Benguet for the past 59 years using
the underground block-cave method. It is one of the oldest operating mines in
the country and provides PMC its biggest source of revenue. In October 2015, an
additional 20 million tonnes of ore reserves were declared within the current ore
body, which will extend the mines life by two (2) more years, from 2020 to 2022.
Ayala Land starts P7-B bond issue
By Richmond Mercurio (The Philippine Star)
MANILA, Philippines - Ayala Land Inc. (ALI) has started the ball rolling for
its planned P7-billion debt sale to partially finance its record P100-billion capital
expenditures (capex) this year.
In an interview, ALI vice president and treasurer Augusto Bengzon said
the company is targeting to complete its P7-billion bond issuance by the end of
this month or early next month.
We are now undergoing institutional building. Price setting should
happen in the next two weeks. After which, we go to a one-week offer period,
Bengzon said.
We are already offering the next tranche of our corporate/retail bonds
worth about P7 billion. Thats the balance of the P15 billion we sought for
approval for last year, added ALI chief executive officer Jimmy Ysmael.
The property arm of the Ayala conglomerate last year raised P8 billion from
the initial tranche of its P15-billion bond issuance.
The upcoming P7-billion bond offering will kick-off ALIs plan to borrow
about P15 billion to P20 billion this year to support its aggressive expansion
program which will entail a record investment of P100 billion.
Aside from this months issuance, Ysmael said the property giant is also
eyeing to raise P1 billion to P2 billion more through the offering of its
Homestarter bonds.
ALI last year deferred the issuance of up to P5 billion worth of Homestarter
bonds after already completing its fundraising activities for the year.
We are looking at Homestarter bonds, thats a small issue maybe P1 to
P2 billion. The rest are bilateral loans at the subsidiary level, accessing the bank
lines directly available, Ysmael said referring to the companys planned
borrowings this year.
ALIs net income grew 26 percent last year to P14.8 billion, riding high on
the positive momentum of the countrys real estate sector.
The robust performance of its property development and commercial
leasing operations, which increased 21 percent and 18 percent, respectively,
powered the 18 percent-growth in ALIs real estate revenues to P93 billion.

Reference: http://www.philstar.com/business/2015/04/07/1440990/ayala-
land-starts-p7-b-bond-issue
Metro Pacific sells $200M shares at P4.90 each
By: Doris C. Dumlao
INFRASTRUCTURE holding firm Metro Pacific Investments Corp. has
raised $200 million in fresh funds for expansion through an overnight equity
private placement deal.
The top up deal was priced at P4.90 per share or at a 6.5 percent
discount to Mondays closing price of P5.24 per share and at a 2.75 percent
discount to the volume-weighted average in the last 30 days, based on MPICs
disclosure to the Philippine Stock Exchange on Tuesday.
The overnight deal was arranged by investment bank UBS. About 1.81
billion common shares were placed out to new investors in this fund-raising deal.
In its disclosure, MPIC said proceeds from this equity transaction
together with up to P10 billion of new borrowings will be used primarily to pare
down relatively expensive debt at MPICs affiliate Beacon Electric Asset
Holdings Inc., the holding firm for the First Pacific groups interest in utility
Manila Electric Co. About P5.1 billion of the proceeds will be for this debt
refinancing.
The reduction in borrowings at Beacon is being done (and is anticipated)
to increase cash flow to MPIC itself, the disclosure added.
Another P2 billion has been earmarked for an investment in the rail
business and P1.6 billion for the expansion of the toll business.
People privy to the deal said the transaction was oversubscribed and
supported by demand from international long-only funds and domestic
investors, including existing shareholders of the company.
Under the top-up structure, the controlling shareholder group under
First Pacific Co. Ltd. under the entity Metro Pacific Holdings Inc. (MPHI) lent
some of its shares for sale to new investors for a quicker equity deal but it will
subscribe to the same number of shares at the same price, allowing new money
to flow into the company.
The conduct of an equity fund raising through the placing and
subscription transaction allows MPIC to raise equity funds in a most expeditious
and efficient manner, with the least cost to MPIC, for use in its debt repayments,
expansion and acquisition projects, the company said in its disclosure.
The transaction is also intended to strengthen and broaden the capital
base of MPIC, as well as to promote a wider dispersion of the common shares of
MPIC to a broad spectrum of public institutional investors, it added.
 After the transaction, MPHIs interest in the infrastructure holding firm
will be reduced from 55.76 percent of MPICs current outstanding common
shares to 52.13 percent.

Reference:http://business.inquirer.net/186479/metro-pacific-sells-200m-
shares-at-p4-90-each#ixzz4uFbeIBHV