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Insider executives


IN the following email, Tony Aqman, a reader of The Manila Times, reacts to a column which appeared in this space on Oct. 30, 2019.

“I read your column today and would just like to give feedback on the subject of motorists not respecting the rights of people crossing on pedestrian lanes, “ he wrote. “They don’t care because enforcers do not care to flag them for not giving way to pedestrians.”

He completed his email by suggesting that policemen manning traffic should apprehend car drivers for violating the law. “If only cops were consistent in flagging and giving tickets to these moronic drivers, they will soon learn to respect pedestrians.

“Have you ever heard of an enforcer stopping a motorist and writing a ticket for not giving way to a pedestrian? I submit that is the reason many have not learned to respect people crossing the streets. They simply get away with it.

“Consistent enforcement is what is sorely lacking in efforts to enforce discipline on the roads.

“I just wished law enforcement would be vigilant and consistent. The problem is they take action only when they need to meet their quota or when there is an operation.

“Also, I have no problem with cops hiding in order to ambush traffic violators so long as they do not extort bribes. That would ease the manpower shortage as drivers would now worry if there’s a cop hiding at the corner waiting to pounce on them. They would likely think twice. I believe those complaining about this strategy are shortsighted or maybe they want to have the option to disregard traffic rules when they do not see any cop around.”

Insiders’ trades

JFC. Antonio Chua Poe Eng is a director of the nine-person board of Jollibee Foods Corp. (JFC). On Oct. 30, 2019, he sold 50,000 JFC common shares at P229 each. He followed up this acquisition by four more: 3,000 JFC common shares at P229.40 each; 7,000 JFC common shares at P229.80 each; 2,000 JFC common shares at P230.40 each; and 15,170 JFC common shares at P232 each.

From 40,475,743 JFC common shares, Eng’s ownership of JFC common shares dropped to 40,398,573 common shares, or 3.69 percent, from 40,475,743 common shares, or by 77,170 JFC common shares.

On Oct. 30, 2019 when Eng sold 77,170 JFC common shares, the stock opened trading at P231.80; hit a high of P232; fell to a low of P230; and closed at P232. On Oct. 31, 2019, JFC common shares opened trading at P232; hit a high of P233; fell to a low of P230.20; and closed at P232.

STI. Eusebio H. Tanco is chairman of the 11-person board of STI Education Systems Holdings Inc. The company’s board includes four independent directors, namely Jesli A. Lapus, Ruben G. Vergara, Ma. Leonora Vasquez-de Jesus and Raymond N. Alimurung. Will any of them oppose any of the board’s suggestion or recommendation?

Before he bought on Oct. 30, 2019 additional 20,000 STI common shares at P0.6800 each, Tanco was direct owner of 1,253,666,793 common shares, or 12.657 percent. He also indirectly owned131,264,082 STI common shares, or 1.325 percent, for total STI holdings of 1,384,930,875 STI common shares.

Tanco’s acquisition of 20,000 STI common shares increased his ownership of STI common shares to 1,384,950,875 common shares, or 13.983 percent.

On Oct. 30, 2019 when Tanco bought 20,000 STI common shares, the stock opened trading at P0.69, which was also the stock’s high; fell to a low of P0.67; and closed at P0.68. On Oct. 31, 2019, JFC common shares opened trading at P0.68, the stock’s high; dropped to a low of P0.66; and closed at P0.68.

PBB. Rolando R. Abante is the president and chief executive officer of Philippine Business Bank Inc. (PBB). As an insider, he bought 230,000 PBB common shares in nine trades as follows: 150,000 common shares at P13.62 each on April 16, 2019; 5,000 common shares at P13.48 each on April 24, 2019; 45,000 common shares at P13.46 each on April 25, 2019; 8,700 common shares at P13.24 each on June 28, 2019; 4,500 common shares at P13.26 each on June 28, 2019; 7,000 common shares at P13.28 each on June 28, 2019; 9,300 common shares at P3.22 each on July 1, 2019 and 500 common shares at P13.26 each on July 1, 2019.

On Oct. 31, 2019, PBB common shares opened trading at P13.10; the stock’s high; fell to a low off P12.70; and closed at P12.70. They peaked at 30-day high of P13.20 and a month’s low of P12.

If Poe Eng, Tanco and Abante are not insiders, then who could they be? Just asking.


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