• Make public Kris’ pays and perks

    Emeterio Sd. Perez

    Emeterio Sd. Perez

    ABS-CBN Corp. and Jollibee Foods Corp. have “some things” in common. Both are public companies because their shares are listed on the Philippine Stock Exchange. Resourceful followers of these two listed companies would also know that they share Kris Aquino as a common endorser of their brands.

    A posting on the website of the Philippine Stock Exchange listed Aquino, the sister of the chief temporary occupant of Malacañang, as owner of 50,000 ABS-CBN common shares, an ownership that lands her among the broadcast group’s top 100 stockholders.

    The same filing showed the Social Security System (SSS) and the Government Service Insurance System (JFC) among the JFC stockholders. Should their members attribute the choice of stocks of the two funds’ top executives to the taste of the food chain’s hamburgers and their belief in the endorser of Chowking, one of the members of the JFC food chain?

    What a coincidence! Has Aquino, as JFC endorser, influenced SSS and GSIS in their choice of listed stocks? As of Dec 31, 2014, SSS and GSIS owned 353,270 JFC shares and 5.347 million JFC shares, respectively.

    Hidden talent fees
    The financial posting of ABS-CBN and Jollibee group had nothing to show regarding the amount or amounts they pay Aquino for her endorsement. As a matter of fact, if the public stockholders were to view JFC’s financials, they would have no basis but to guess the amount of her talent fees for posing at the door of every branch of Chowking to welcome every potential diner.

    Again, if JFC’s public stockholders were to ask if Aquino was effective as an endorser, only Chowking would have the answer. Otherwise, any of the small stockholders of Jollibee would have to observe for himself if Chowking had developed a huge market because of Aquino or despite her.

    As far as Chairman Tony Tan Caktiong is concerned, the public should not expect him to make Jollibee group transparent in detailing its marketing and advertising expenses.

    The individual investors, even if they own only few JFC shares, are entitled to know how much the company pays Aquino for her life-sized poster that adorns every Chowking branch. They should be told that the majority stockholders of Jollibee who rule the board are not ready yet to satisfy their curiosity over Aquino’s fees.

    1% cash dividend
    Of course, the public can only admire JFC’s transparency in disclosing the cash dividends it pays its stockholders, such as the P1.64 per share in 2014. This translates to 1 percent a year despite the food chain’s 14.27 percent rise in net profit to P5.397 billion in 2014 from P4.723 billion in 2013.

    As of Dec 31, 2014, Jollibee had accumulated retained earnings of P22.55 billion, of which P10.20 billion was allocated to future expansion.

    Jollibee’s dividend generosity, which is based on available retained earnings, translates to a return of 1 percent a year, which should give the company’s insiders P963.389 million for their ownership of 591.091 million JFC shares.

    Like Jollibee, ABS-CBN, which is owned by the Lopezes, is also secretive about Aquino’s compensation as the broadcast’s alleged star revenue generator. Instead, it prefers to be more transparent in disclosing its losses in Star Cinema, which has Aquino as its main star attraction.

    A footnote to a financial filing had this to say on Star Cinema as part of an entry under “investments in associates”: “ . . . Investment in another associate, Star Cinema Productions, Inc., has been reduced to zero due to accumulated equity in net losses. The net cumulative unrecognized net losses amounted to P17 million as of Sept 30, 2014 and Dec 31, 2013.”

    Fallen star
    Sometime in 2008, ABS-CBN said “it discontinued the recognition of its share in the losses of Sky Vision and Star Cinema starting 2008. The accumulated losses in Sky Vision and Star Cinema reduced the carrying value of the Parent Company’s investment in Sky Vision and Star Cinema to zero.”

    Seven years ago, ABS-CBN had apparently not given up yet on Star Cinema, hoping for its eventual rebound. Should this happen, it said, it “will resume recognizing its share in these profits if the Parent Company’s (referring to ABS-CBN) share in the cumulative unrecognized net profits exceeded the cumulative unrecognized net losses.”

    ABS-CBN’s expected profitability did not happen because Star Cinema’s “net cumulative unrecognized net losses amounted to P17 million and P14 million as of Dec 31, 2012 and 2011, respectively.”

    Will Aquino’s star shine brighter to be able to save Star Cinema from further losses and financially revive it?

    Finally, for the sake of their market investors, ABS-CBN and Jollibee should make public the talent fees they are paying Aquino. By their transparency, they could review their investment strategies and prepare an alternative to their stocks. The two companies should prioritize their disclosures, particularly their donations to the campaign funds of Malacañang’s temporary chief occupant, who happens to be her brother.



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    1. Atleast Krissy is doing very well in her career and business outside government unlike Binays that made the government a business enterprise..

    2. My goodness hindi nyo ba alam kung magkano binabayad ni Kris sa BIR? Ina-announce na nga nya around P50 million, anobey. Tigilan nyo si Kris.

    3. I always switched to other channels whenever Kris endorsements appear.Just think one time I counted three commercials in succession with just one endorser and guess who that one is who seems to think she’s the only one who can sell all those products.Can’t stomach it anymore.

    4. I know she is adored by the masses but ive watched her programme & i hate it. Mind im not a big fan of those types of programmes at all. All they do is tell each other how beautify or handsome they are, how clever they are, how hard working they are, how honest they are, how religious they are, how they are so good in relationshipe as mothers fathers husbands & wives. Its all total bull droppings.
      It makes me think of you scratch my back & ill scratch your back.

    5. In the Philippines, we have no ethical standards governing product endorsement. In the US, if I remember right, one time Kobe Bryant was dropped as endorser of a well-known shoe producer because of a certain domestic violence case. For me this has great sense because not only the target audience look upon the product but also the character of the endorser as model in buying that product. Kris’ moral fiber and tract records as known publicly has a bad influence to kids, who incidentally are target audience for Jolibee products.

    6. For christ sake leave kris alone can you blame if she is rich? Work hard so you get rich also.

      • Being rich is not the point of the writer. His point is how rich is Kris Aquino and if she is paying the correct taxes for her income. The public deserves to know.

      • Let BIR decide whether Kris paid the right tax or not…due diligence is free to join BIR..