Villar: From Senate president to chairman of the board

Emeterio Sd. Perez

Emeterio Sd. Perez

FORMER Senate President Manuel Villar Jr., who is now a full-time businessman, directly owns 1,000 common shares in Vista Land and Landscapes Inc. (VLL) He also indirectly holds 4.46 billion VLL common shares and 3.3 billion VLL preferred shares. At P6.68 per share, which was VLL’s last traded price on Friday, his indirectly owned common shares had a market value of P31.2 billion, paper wealth that he shares with his wife, Sen. Cynthia Villar.

With their holdings, the Villar couple is not only very rich, they are getting even richer because of Vista Land’s consistent profitability. VLL has pile up retained earnings totaling P26.812 billion as of March 31, 2015.

The accumulated net profits culled from Vista Land’s first-quarter financial filing posted on the website of the Philippine Stock Exchange (PSE) are net of dividend that the company regularly distributes to stockholders. The latest, which the company distributed on Oct. 24, 2014, made the Villars even richer by about 12 centavos per share, or a total of P529.5 million. The Villars and other stockholders of Vista Land receive their dividends every September, which is what VLL’s dividend history shows.

Executive compensation
As chairman of the board, Manuel Villar Jr. is also one of the five highest-paid executives of VLL. He, along with son Manuel Paolo A. Villar, president and chief executive officer, and three others, received combined salaries of P26 million and bonuses of P4.7 million in 2013;P30.9 million and P5.2 million in 2014; and an estimated P34 million and P5.7 million this year.

In the same compensation filing, Vista Land said it paid “all other officers and directors” combined salaries of P133 million and bonuses of P18.1 million in 2013; P139.7 million and P19 million in 2014; and an estimated P139.7 million and P19.9 million in 2015.

“Other than payment of reasonable per diem of P125,000 per non-executive director for every meeting,” Vista Land said, “there are no standard arrangements pursuant to which directors of the company are compensated, or are to be compensated, directly or indirectly, by the company’s subsidiaries, for any services provided as a director for 2013 and 2014.”

Charter changes
Will Far Eastern University Inc. follow the calendar year – January to December – or adopt a fiscal year different from what it presently follows? When its board of trustees decides on this, will it be for the FEU owners’ convenience or for the public’s convenience?

The public has been used to reviewing annual financial postings that follow the calendar year.

As its present charter provides, FEU holds its annual stockholders’ meeting on the fourth Saturday of August. Its board says it is time for a major overhaul by undertaking crucial charter changes.

Like Centro Escolar University Inc., which is also a listed company, FEU’s financial year ends on March 31 of each year. The members of FEU’s board of trustees decided it was time for their school to change its fiscal year by seeking the approval of its stockholders to entrust to the board the task of adopting a new fiscal year.

FEU will hold its annual stockholders’ meeting on Aug. 22 at the school’s administration building in Manila.

Pay and perks
Lourdes R. Montinola has given way to her son Aurelio R. Montinola 3rd who, since September 2013, has assumed the chairmanship of the board of trustees of Far Eastern University.

But Mrs. Montinola has not totally retired from FEU. As chair emeritus, she remains one of the six highest-paid executives of the university.The compensation filings of listed companies usually limit the number to five.

Incidentally, the annual pay and perks that FEU pays the members of its management follow the school calendar. In 2013-2014, it paid the group a salary package of P27.55 million and aggregate bonus of P10.757 million.

FEU raised by 44.7 percent the group’s salary package to P39.87 million and more than doubled their bonus package to P22.6 million in fiscal 2013-2014. In fiscal 2014-2015, however, the school reduced the salary package to P20.13 million and the aggregate bonus to P7.05 million. The filing did not say that Mrs. Montinola was no longer included among the well-compensated executives. The following year, it slightly increased the group’s salary package to P21.3 million and their aggregate bonus to P7.3 million.


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  1. That so-called C5 diversion is not the fault of Villar. It was just a demolition job by his political opponents when Villar ran in the 2010 presidential election.

    How come we’ve heard nothing whether charges have been filed against Villar regarding this C5 controversy or what is now the status of the charges, if any? Villar already lost in the last presidential election and his detractors already accomplished their job of demolishing him, so they are quiet now.

    watch the youtube wherein Bro. Mike Velarde admitted that it was he (Velarde) who did not want the government’s road project to pass through Bro. Mike’s property, that’s why the road project had to be extended near Sen. Villar’s properties.

    Velarde said he wondered why the senators did not invite him during the Senate hearings regarding the allegation of C5 Extension controversy, when he had previously admitted during past interviews that he did not want the road project to pass through his private property.

  2. Amnata Pundit on

    All this wealth is traceable to the C-5 diversion. When will he made to pay for that anomaly? I guess as long as his biggest talent is to make sis-sip to the powers that be, then the answer is never.