Sean Chambers turns to placards in calling shots for Tamaraws
MANILA, Philippines – PBA legend-turned-coach Sean Chambers may have lost in his UAAP debut, but he still had the biggest impact in terms of innovation to the Philippine coaching scene.
UPS latest news
JPGT final poised to deliver intense performances
TRECE MARTIRES, Cavite – As the ICTSI Junior Match Play Championship nears, players from the youngest to the oldest divisions gear up to deliver their best performances as the Luzon Series finale begins Tuesday, September 10, at the Sherwood Hills Golf Club here.
Vatican thriller 'Conclave' drums up Oscars buzz in Toronto
TORONTO, Canada — How do Catholic cardinals choose a new pope? What happens in their closed-door meetings? That is the premise of Vatican thriller "Conclave," starring Ralph Fiennes and Stanley Tucci, which screened at the Toronto film festival on Sunday.
Family business 101: Richard Yap, daughter Ashley give tips
MANILA, Philippines — Want to start a family business?
![[SPLIT News Alert] DAR Speeds Up ARB Validation in Hilongos, Leyte - dar.gov.ph - city San Antonio](https://balita.org/storage/thumbs_400/site_images/big-photo.jpg)
[SPLIT News Alert] DAR Speeds Up ARB Validation in Hilongos, Leyte
HILONGOS, Leyte – Armando (not his real name), a farmer and former rebel, expressed his heartfelt gratitude to the Department of Agrarian Reform (DAR) for sparing him and fellow farmers from the costly process of conducting a subdivision survey and applying for individual land titles, made possible through DAR’s Support to Parcelization of Lands for Individual Titling (SPLIT) project.
Is DDMPR in danger of missing a dividend deadline?
No, because there’s no quarterly deadline to be missed. According to Article II, Section 7 of the REIT Law, DDMP [DDMPR 1.00 unch; 35% avgVol] is only required to distribute at least 90% of its qualified distributable income by “the last day of the fifth month following the close of the fiscal year of the REIT.” We can confirm DDMPR’s fiscal year ends on December 31st by looking at the “Fiscal Year” section of DDMPR’s Company Information tab on the PSE EDGE server, so in this case the last day of the fifth month following 31 December 2024 is 31 May 2025. That’s the only legal deadline that DDMPR needs to comply with. While DDMPR distributes quarterly dividends, there are no legal deadlines that it needs to follow in terms of when these dividends are declared and paid, other than the one that applies to the entirety of DDMPR’s distributable income at the end of the year. MB BOTTOM-LINE: This question has been coming up more often because DDMPR is consistently one of the last REITs to declare its quarterly dividend. I know there’s a human impulse to attribute negative connotations to people and companies that do things “last”, but the truth here is that it is not particularly informative to investors that a particular REIT declares first, second, or last. Sure, there’s an argument that it’s better to get the money earlier rather than later. Compared to shareholders of RL Commercial REIT [RCR 5.70 ?0.9%; 177% avgVol] that already received RCR’s Q2 dividend on September 2, shareholders of DDMPR look significantly disadvantaged. But if DDMPR always declares and pays with the same lag, then it’s running the race at the same speed, just shifted by a few months. Last year, DDMPR declared its Q2 dividend on October 2 and paid out on November 29. So long as it does approximately the same this year, I don’t think there’s anything to worry about with this specific issue.
SPNEC gets $600M equity investment in Terra Solar project
Meralco [MER 405.00 ?0.3%; 34% avgVol] [link] negotiated a deal for UK-based Actis to take a 40% equity stake in the Terra Solar project for $600 million. The Terra Solar project is currently 100% owned by MER’s affiliate, SP New Energy [SPNEC 1.31 ?0.8%; 120% avgVol]. The parties to the deal expect the transaction to officially close in early 2025. While no specifics were provided on how the deal will function, based on quotes from MER’s leadership group, it appears as though Actis will receive primary shares in the SPNEC wholly-owned subsidiary that owns the Terra Solar project, with the $600 million going to that entity and not to SPNEC directly. News of this deal broke after-hours on Friday, so it’s likely that both MER and SPNEC will issue clarifications this morning to provide more details.MB BOTTOM-LINE: MVP and MER appear to have solved the SPNEC problem in one shot. MVP has always said that he’s looking to sell a 40% stake in Terra Solar to a foreign investor, and while he hasn’t seemed to care whether that 40% goes all to just one investor or is split up between a small syndicate of investors, he’s never indicated a desire to part with more than 40% of the project. With Actis, SPNEC gets an experienced global investor in renewable energy with deep pockets to take the entire lot. As anyone who has accepted investment will tell you, it’s always easier to deal with just one large committed investor than an array of medium-sized investors with differing incentives, time horizons, and risk tolerances. SPNEC’s stock is up 30% over the past month, so let’s see how it reacts today.
DMW warns public anew against illegal online recruiters
THE Department of Migrant Workers (DMW) yesterday warned the public anew against illegal recruiters lurking online.