Consumer spending lifts SM Investments income
SM Investments Corp. (SMIC) on Wednesday reported netting P77 billion last year, 25 percent higher compared to 2022's P61.7 billion, driven by improved essential and discretionary spending.
Accounting latest news
Marcos arrives in Canberra for two-day state visit
MANILA, Philippines: President Ferdinand Marcos Jr. arrived in Canberra on Wednesday afternoon for a two-day state visit, which aims to strengthen the bilateral ties between the Philippines and Australia.
NFA defends sale of cheap rice; farmers slam ‘mafia’
MANILA, Philippines — The National Food Authority yesterday defended the sale of rice to some traders, saying the NFA is allowed to dispose of aging stocks amid the alleged anomalous sale of rice to traders.
Trial set for guard over puppy throwing
MANILA, Philippines — The security guard who threw a puppy from an overpass in Quezon City in July last year is set to undergo trial.
Jodi Sta. Maria adopts another pet, a black puppy named Lily
MANILA, Philippines — The family of actress Jodi Sta. Maria just got bigger following the adoption of a black puppy named Lily.
SC imposes P180K fine on PAO chief for contempt, undignified conduct
MANILA, Philippines — The Supreme Court (SC) has imposed a P180,000 fine on Public Attorneys Office (PAO) Chief Persida Rueda-Acosta for her social media statements on the "Conflict of Interest" provision of the Code of Professional Responsibility and Accountability (CPRA).
FILRT’s FY23 performance is down across all major metrics
Filinvest REIT [FILRT 3.09, down 4.3%] [link] put out a press release to accompany the dividend that it declared on Monday, and I found a few things interesting when I compared this PR to the one they released last year around the same time [link]. The first is that FILRT’s FY23 performance was worse than FY22 across every major metric that we track for REITs; net income was down 2.2% to P1.28 billion; total revenues were down 7.4% to P3.0 billion; occupancy was down from 89% in FY22 to 83% in FY23; tenant retention was down from 96% in FY22 to 77% in FY23; and WALE was flat at 6.9 years, despite cheesing the figure with the inclusion of the Boracay lot with the 40-year lease. The second thing that I noticed was that FILRT’s press release didn’t mention that any of the statistics I just listed were lower than the previous year. The only time FILRT even refers to FY22 is in the discussion about the amount of GLA covered by new leases; FILRT signed 5,087 sqm of new leases in FY22, but 20,139 sqm of new leases in FY23, which FILRT describes as “almost a fourfold improvement from [FY22].” The third thing odd to me was that FILRT referred to its WALE as “improved significantly” and that including the Crimson Boracay lease “pushed the WALE to 6.91 years.” Unfortunately, upon checking FILRT’s FY22 Annual Report, I found FILRT saying on page 47 that it had a “[WALE] of 6.9 years as of end-2022.”
Joshua, iniwan na si Bimby kay Kris! | Pang-Masa
Ngayong Lunes pa ang confinement ni Kris Aquino sa UCLA Medical Center in Los Angeles, California. Ito’y ayon na rin sa kanyang boyfriend, ang Batangas vice-governor na si Mark Leviste.