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Fruitas [FRUIT 0.80, up 3.9%; 314% avgVol] [link] disclosed that it sold P200 million worth of corporate notes in a private placement to banks and institutional investors. FRUIT said the response to the sale was “warm”, that it sold the “maximum amount set by the Company,” and that the sale “further diversifies” FRUIT’s financing sources.
The Government Service Insurance System (GSIS) [link] has increased its stake in the Gokongwei-owned RL Commercial REIT [RCR 5.02, up 1.4%; 23% avgVol] to 8.18% through the purchase of over 790 million shares of RCR over the past 60 days. GSIS now owns 877.43 million RCR shares worth approximately P4.4 billion at RCR’s closing price of P5.02/share.
Yesterday, I wrote about the VistaREIT [VREIT 1.73, down 0.6%; 0% avgVol] Q4 dividend [link], and how (despite its gargantuan size) it was insufficient to drag VREIT’s cumulative FY23 dividends up above 90% of its reported distributable income for FY23 as required by the REIT Law. I speculated that the amount listed in the disclosure was likely an error. At 10:44 AM, VREIT submitted an amendment [link] to its dividend declaration disclosure to say its Q4 distributable income was actually P506.836 million, not P546 million as originally reported. The change brings VREIT’s Q4 payout ratio up to 79.6%, and its cumulative FY23 payout ratio up to 90.6%, in compliance with the REIT Law.
Vista Land and Lifescapes [VLL 1.54, up 0.7%; 0% avgVol] [link] posted an FY23 net income of P10.3 billion, up 39% from its FY22 net income of P7.4 billion. Revenues were up 18% to P35.2 billion, with real estate revenue up 19% to P15.2 billion and rental income was up 17% to P16.0 billion. VLL noted that these results were driven by sales in the “low and affordable” segment, and by the recovery of its malls assets through the increase in foot traffic and contributions from “newly opened commercial centers.”
MANILA, Philippines — The Metropolitan Manila Development Authority (MMDA) apprehended at least 87 drivers of light electric vehicles and tricycles yesterday, the first day of the stricter enforcement of a policy banning them from major roads in the metropolis.
MANILA, Philippines — Pertussis cases have continued to increase in six regions, according to the Department of Health.
MANILA, Philippines -- The charge continues for the Far Eastern University Lady Tamaraws, who rolled to their fourth straight win in the UAAP Season 86 women’s volleyball tournament at the expense of the University of the East Lady Red Warriors, 25-19, 25-15, 22-25, 25-16, Wednesday at the Smart Araneta Coliseum.
MANILA, Philippines – Blue-chip recruit Camille Nolasco expressed her excitement in joining forces with a resurgent UP Fighting Maroons program in the UAAP Season 87 women’s basketball tournament happening later this year.