• Henry Sy’s P11.6-B holdings in SM Prime

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    Emeterio Sd. Perez

    Emeterio Sd. Perez

    Insiders’ trades

    On December 29, the last trading day of 2014, Betty Cheng Siy-Yap, senior vice president and chief finance officer of Manila Electric Co., sold all her Meralco shares totalling 22,818 at P255.40 each.

    On December 22, Fernando Larrazabal Gaspar, SVP and chief administration officer of International Container Terminal Services Inc. (ICTSI), sold 2,000 ICTSI shares at P116.90 each. After selling, he still owned 737,000 ICTSI shares.

    On December 12, Jolliville Holdings Corp., an existing stockholder of Philippine H2O Ventures Corp. (H2O), which owns 54.332million H2O shares, or 33.516 percent, bought 10 million H2O shares, equivalent to 6.167 percent, at P4.10 each.

    On December 17, Ma. Teresa Rustia Tantoco, a member of the board of SSI Group Inc., bought 315,000 SSI shares at P9.34 each; 3,000 SSI shares at P9.29 each; 3,000 SSI shares at P9.20 each. On December 19, she bought 50,000 SSI shares at P9.88 each. After these acquisitions, she directly owned 31,846,431 SSI shares. She also indirectly owned 588,000 SSI shares “thru spouse” while Birdseyeview Inc. which she wholly owns, holds for her 412,500 SSI shares.

    Insiders’ holdings

    Henry Sy Jr., chairman of the board of SM Prime Holdings Inc. (SMPH). As of December 12, he owned 680.818 million SMPH shares including 620,000 shares which he bought in three trades at P16.06 to P16.10 on December 12.

    SMPH closed on Monday at P17.04 putting Sy ahead by P1, or 6.25 percent in 17 days. At said closing price, Sy’s holdings had market value of P11.601 billion.

    As of December 4, 2014, Helen Dee, a member of the board of Philippine Long Distance Telephone Co., owned 1,178 PLDT common shares. Of her total holdings, 835 shares are held in “PCD Account thru RCBC Trust for the account of Michelle Dee-Santos,” who, the filing described as “immediate member of the family sharing the same household.”

    The same ownership filing showed that of Dee’s 1,178 PLDT common shares, 245 are also registered with PCD while 98 shares are “certificated.”

    At PLDT’s last trading price of P2,906 on Monday, Dee’s 1,178 PLDT common shares had marker value of P3.423 million.

    On November 28, 2014, former Chief Justice Artemio Panganiban, an independent director of Philippine Long Distance Telephone Co., sold 570 PLDT common shares at P2,960 each, or a total of P1.687 million and 500 shares at P2,986 each, or total of P1.493 million.

    Panganiban is also independent director of Manila Electric Co., Petron Corp., First Philippine Holdings Corp., Metro Pacific Investment Corp., Robinsons Land Corp., GMA Network Inc., GMA Holdings Inc., Asian Terminals Inc. and Bank of Philippine Islands.

    Ownership profile

    Cebu Air Inc. has 605.953 million outstanding common shares excluding 7.283 million treasury shares. It owns an airline that goes by the brand name Cebu Pacific.

    As the corporate vehicle that owns Cebu Pacific, Cebu Air is, in turn, owned by CPAir Holdings Inc. which holds 400.817 million Cebu Air common shares, or 66.15 percent. JG Summit Holdings Inc., the listed flagship of the group of companies owned by businessman John Gokongwei Jr. and his family, holds 6.595 million Cebu Air common shares, or 1.09 percent

    Cebu Air also has what it classified in a PSE posting as non-public shares totalling 407.422 million, leaving the public with 198.531 million Cebu Air common shares, or 32.76 percent. This ownership profile tends to show that Cebu Air may be more public than others.

    Cebu Air reported net profit of P2.079 billion in the first nine months of 2014 on P38.446 billion revenues despite a huge loss of P1.099 billion that resulted from revenues of P11.728 billion in the third quarter.

    esdperez@gmail.com

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    7 Comments

    1. jay dela cruz on

      Just like Wal-Mart in the US – most their employees are considered part time workers so they don’t have to pay them benefits. In fact they show them the loophole on how to apply for gov’t benefits to compensate the lack of it. Rich people didn’t get rich because they’re dumb – they are smart (either good or bad)

    2. I was talking with my wife & our friends , the wife is filipino the husband is welsh. I was talking about henry cy not employing workers in his supermarkets but using agency workers. My friend said he was doing that as if he employed them he would have to pay them a pension & that other countries have had serious financial problems with paying people pensions. I said he shouldnt be allowed to operate his company that way. My wife & both our friends all disagreed with me. Then a little while later he informed me that all companies in the uk have to provide a pension plan for all employees. He also said thats how it should be. So he said just the opposite for us in the uk as you here in the philippines. I wonder is it that he cares more for the brits future than the filipinos future.
      I wish you would or anyone would write what they think about henry sy being able to use just contract workers to man his supermarkets. It seems its ok for him to get richer & richer but they dont want the filipino to have any improvement in their lives.

      • You have a choice. If you don’t like to work for SM, then leave and find another company that will provide your demands. The problem with most of the Filipinos is that they all complain. They think that when they work for the company the company should take care of them until they die. Grow up and be independent.

      • That’s the way Chinese companies do business in the Philippines. They hire their workers for 6 months then they let them go to re apply again. By doing this they are not obligated to give them any benefits. WHAT A SHAME.

      • I don’t see the issue but information on individuals buying and selling their shares. There is little we can do if the company decide to use subcontract workers. The construction industry, marine industry, etc. uses subcontract workers. Our Trade Industry and labor law allows it. There are good reasons why SM prefers subcontract workers. I am sure he has employees or staffs that are employed with full benefit i.e pension, bonuses, etc. The good side of Henry Sy is that he is a Filipino with Chinese ancestry and his company SM employ thousands of Filipinos not to mentioned buyers of Philippine products. SM has various outlets in our country and now has opened malls in China. Isn’t this good for our country?. Lately, I have heard that Jolibee are opening up outlets in Dubai. I am proud of it and so are the thousands of OFWs. Unfortunately, in UK and any other European countries some companies are having difficulty to operate because of unions and provision of various benefits to employees without looking at rate of return of investments.