THE developer of high-end Tagaytay Highlands said Friday that it plans to sell non-core assets to boost its capital and pay down its debt. Willy Ng Ocier, Belle Corp. vice chairman said the company would just unload some of its assets this year instead of raising funds through the capital market.
“We intend to build up capital by selling our non-core assets and paying down our debt. But no definite details,” Ocier said in a text message.
Last year, Belle’s total assets increased by 5 percent to P9.915 billion from P9.418 billion in the previous year.
The company has interests in Belle Jai Alai Corp., Lucky Star Gaming Corp., Woodlands Development Corp., APC Group Inc., Sinophil, Highlands Prime Inc., Belle Bay City Corp. and Pacific Online Systems Corp.
Last year’s loans payable that were secured in 2007 by real estate mortgage on residential lots, condominium units and improvements, and a pledge of club shares and a certain number of shares of stock of Highlands Prime amounted to P2.434.4 billion and P2.458 billion, respectively.
The company realized a net income of P205.8 million last year, or P125.9 million lower than the P331.7 million in the previous year, even as revenues reached P1.379 billion, or 106 percent higher than the P669.1 million in 2007.
Operating expenses including depreciation and amortization were 16-percent higher at P165.1 million from P142.2 million in the previous year due to increased project activity.
Belle reported an operating income of P500.9 million, 99 percent higher than the P251.7 million in 2007. –Chino S. Leyco, Reporter, Manila Times
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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