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MANILA, Philippines — Over 2.4 billion workers in the Philippines and other countries are exposed to excessive heat that may lead to illnesses and injuries, according to the International Labor Organization (ILO).
Committee on Foreign Relations Hearing on Various Treaties and Agreements Tuesday, 16 April 2024
Premiere Island Power REIT [PREIT 1.64 unch; 89% avgVol] [link] declared a Q4/23 dividend of P0.0388/share, payable on May 13 to shareholders of record as of April 26. The dividend maintains PREIT’s annualized yield of 9.46%. The total amount of the dividend is P128 million, which is 89% of the P144 million in distributable income that PREIT reported for the quarter. Relative to PREIT's IPO price, the dividend increased PREIT's total stock and dividend return to 23.44%, up from its pre-dividend total return of 20.85%.
MANILA, Philippines — The Department of Labor and Employment (DOLE) encouraged private companies to allow employees accompanying their children during the nationwide Measles-Rubella and Bivalent-Oral Polio Vaccine immunization to be excused from work.
AMID dangerous spikes in heat index across the country, the Department of Labor and Employment (DoLE) is pushing for a flexible work arrangement to protect workers' health.
MANILA, Philippines — The gap between women and men has improved as the Philippines ranked 16th in the Global Gender Gap Index, according to one of the speakers during the recent Women’s Day webinar organized by environmental group BAN Toxics.
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.”
AMSTERDAM — China asked the International Court of Justice (ICJ) on Thursday to give its opinion on Israel’s occupation of the Palestinian Territories, which it said was illegal.