Price cut: At least P2 for diesel, over P1 for gasoline
MANILA, Philippines — Motorists should expect petroleum prices to go down by as much as P2.20 per liter next week, following recent upward adjustments.
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Cookie-inspired pop-up cafe perks up weekend crowd
MANILA, Philippines — In an effort to share the taste of its biscuits and other goodies with more people and spread good vibes, Cream-O staged its first pop-up event, the Cream-O Me Time Café, at the Greenfield District Weekend Market last June.
General Santos City LGU employee busted in PDEA operation
COTABATO CITY — Anti-narcotics agents clamped down a local government employee after selling to them P14,000 worth of shabu in an entrapment operation in Barangay Sinawal in General Santos City on Wednesday.
Asia tracks Wall St. rally after US jobs data, Fed minutes
HONG KONG, China — Stocks edged up in Asia on Thursday after Wall Street returned to winning ways on the back of softer-than-expected jobs data and minutes showing some Federal Reserve officials were open to an interest rate cut at their meeting last month.
Does DDMPR’s ownership of land matter to investors?
> Quick answer: Yes, DDMPR’s ownership of land “matters”, but maybe not in some of the ways that you might think. For some background, the question comes out of the fact that DDMP [DDMPR] owns the buildings that make up the DoubleDragon Meridian Park development, and the land beneath those buildings. While there are other REITs that have significant land holdings, like Citicore Renewable Energy REIT [CREIT], DDMPR is the only commercial REIT that owns substantially all of the land underneath its buildings.> Is that good? It’s not necessarily better, but it does come with certain advantages. For starters, if DDMPR ever sold the land, the capital gain would be considered distributable income and DDMPR would be legally required to distribute at least 90% of that to shareholders. Importantly, though, this rule would only apply to proceeds that are not reinvested into qualified real estate investments within the year. Owning land also gives DDMPR executives a higher-quality asset to borrow against, which would (in theory) give DDMPR shareholders more cash that could be used to develop or acquire new properties for the REIT. > Does it add to the dividend? No, owning land doesn’t add to the quarterly dividend directly. The impact of the land’s appreciation can be seen in the fair market value adjustments that impact net income, but this is an unrealized gain that is non-cash and therefore excluded from the pool of distributable income that DDMPR must dividend out to shareholders. It could be something that indirectly adds to the dividend, though, if management borrowed against the land to acquire new assets that would increase the dividend.
Dominion down 41% in first few days of trading
Dominion Holdings [DHI 1.86, down 3.6%; 902% avgVol] [link], the company that was formerly known as BDO Leasing and Finance but that was renamed in anticipation of a sale that ultimately failed to complete, had its four-year suspension lifted on Tuesday and the stock price has fallen 41% in the first couple days of trading. DHI was down 39% on its first day of trading, which was only possible because the PSE declined to apply the usual trading band guardrails due to the length of DHI’s suspension, despite there being ample historical data on the previous market value of the stock. Yet, even that 39% drop doesn’t tell the whole story, as there were some trades that crossed at P4.50/share after the stock opened at P4.10/share. The second day of trading was more civilized, with DHI opening slightly above its Tuesday close before fading through the day and closing at the session’s low of P1.86/share. Over 6.2 million shares were traded, which is approximately 3% of the remaining public float.
‘Culture war’ vs safer smoke-free alternatives fuel global illicit trade
A “culture war” being waged by prohibitionist groups against tobacco harm reduction products is fueling the black market for vapes, heated tobacco, and oral nicotine pouches in many countries, according to health experts.
Senate energy panel chair endorses passage of natural gas bill
SEN. Pia Cayetano, who chairs the Senate Committee on energy, has formally endorsed the passage of a bill supporting the full development of the Philippines’ natural gas industry.