Taipan transfers P422M shares to favored son
In what could be a family version of “Free Trade Day,” Metrobank founder George Ty last week transferred over P422 million worth of bank shares to his son and Metrobank chairman, Arthur.
According to regulatory disclosures, the 86-year-old taipan made the disposal on May 8, celebrated by globalization advocates as Free Trade Day, with his favored son acquiring the same number of shares, over 5.1 million of them, also on the day and at the same price. “These are intragroup transactions among the Ty family companies, without any effect on the aggregate shareholdings of the Group,” Metrobank said, without elaboration.
With the additional shares, Arthur’s three holding companies should by now beneficially own about 9.4 percent of Metrobank.
And if you need to put a price to it, Arthur’ s piece of the Metro bank pie, even at this bearish market, is still worth over P31 billion.
Gozon’s not-so-guessing game
Just to make sure the analysts and investors get a correct reading of GMA Network chairman Felipe Gozon’s roadmap for 2018, the broadcast network sent an additional disclosure to the Philippine Stock Exchange about what the chief executive had said during Wednesday’s shareholders meeting.
What was striking about the latest disclosure was the non-disclosure of the identity of the telecom provider that GMA would partner “very soon” in distributing the digital box, which Gozon promises to be “smaller and cheaper” than rival ABS-CBN’s, retailing at P1,499.
“Waiting for the official partnership (with a Telco) because the soon-to-be-partner will immediately distribute the device,” was what the latest GMA disclosure said. “The target initial release as agreed will be one million.”
Hmmm. How do we divine which fortunate telco would be riding on GMA’s new revenue stream?
Let us count the existing players. Exactly two, one of which is already a partner of ABS-CBN in its revived mobile telephone business.
Which leaves only one suitable candidate, unless Gozon wants to share the same telco network that ABS-CBN already is in bed with.
ArthaLand rides on La Salle growth
ArthaLand thinks La Salle will deliver some green shoots for the niche property player’s medium-term growth.
The developer, now controlled by the Po family of the Century Pacific Group, will launch later this year an eight-hectare subdivision in Binan, adjacent to the De La Salle University Science and Technology campus.
“This project will be catering to start-ups, incubators, students, faculty population and starter families within the area,” ArthaLand president Jimmie Gonzalez said in a report to shareholders.
The Binan subdivision will incidentally be ArthaLand’s first venture in horizontal development, ArthaLand being chiefly known as the company behind the twin-tower Arya Residences in The Fort.
To ensure “high standard of maintenance quality,” ArthaLand will continue to provide property management services to the subdivision, just like in ArthaLand-built condominiums, Gonzalez said.
Heard through the grapevine
It looks like the political gulf between Manila Mayor Joseph Estrada and his one-time protege, former vice mayor Isko Moreno, has not only widened, but also deepened.
Estrada is now negotiating with former congressman Amado Bagatsing to be his vice mayoral candidate in next year’s elections, with Erap dangling his support for the flickering City Hall dream of Bagatsing come 2022 for added inducement.
E-mail: moneygoround.manila@yahoo.com