DISCLOSURES

LATEST DISCLOSURE

September 30, 2023

Management's Discussion and Analysis of Financial Condition or Results of Operation

The financial results for the first nine (9) months of 2023 of Philippine Realty and Holdings Corporation (interchangeably referred to by its PSE trading symbol “RLT” or “Parent Company” or as the “RLT Group” or “Group”) reflected a consolidated net loss of ₱144 Million. But in spite of this, the Group was still able to maintain very conservative liquidity and solvency ratios.

The Philippine economy continues to encounter headwinds in attaining economic recovery.

The Philippine Gross Domestic Product (GDP) posted a growth of 5.9% in the third quarter of 2023, which was an improvement from the GDP growth of rate of 4.3% in the second quarter of 2023. The main contributors to the third quarter 2023 growth were: wholesale and retail trade; repair of motor vehicles and motorcycles (5.0%); financial and insurance activities (9.5%); and construction (14.0%). Major economic sectors, namely agriculture, forestry (0.9%); fishing (5.5%); and services (6.8%), all posted positive growths in the third quarter of 2023.

The National Government (NG) debt which stood at a record high of ₱14.35 trillion as of end-August 2023 went down to ₱14.27 trillion, or by 0.6%, in September 2023. Of the total NG debt stock, 68%, was sourced domestically, while 32% came from external borrowings.

Given the decrease in the country’s debt stock relative to the size of the economy as measured by GDP, the Philippines’ debt-to-gross domestic product ratio (debt-to-GDP ratio) subsided as of endSeptember 2023, data released by the Bureau of the Treasury (BTr) on Thursday showed.

As of the third quarter of the year, the country’s debt-to-GDP ratio stood at 60.2%, down from 61% as of end-June 2023. This is also an improvement from the 63.6% debt-to-GDP ratio seen as of the third quarter of 2022 and the 60.9% seen for the entire 2022.

The debt-to-GDP ratio measures the amount of the National Government’s outstanding debt proportionate to the value of the economy during a specific period. A lower debt-to-GDP ratio indicates that the country can pay off its debt without having adverse impacts on the economy.

“With the latest development, the National Government’s end of year debt ratio is likely to be lower than the 2023 Medium Term Fiscal Framework (MTFF) target of 61.4%,” the BTr said. “Moreover, the debt-to-GDP ratio is on pace to fall below 60% earlier than the 2025 MTFF commitment,” it said.

Finance Secretary Diokno said that the government’s MTFF aims to bring down the debt-to-GDP ratio to less than 60% by 2025 then further down to 51.1% in 2028 and reduce the budget deficit to 3.0% of GDP by 2028. “The MTFF is our blueprint to reduce fiscal deficit, promote fiscal sustainability and enable robust economic growth,” he added.

NEDA Secretary Balisacan said that “High inflation remains a challenge, and the BSP’s move to raise its key policy rates to anchor inflation expectations and ensure price stability, may dampen future growth. But the improvement in the business climate can counter this unintended effect,” he added. The NEDA Secretary also said that expectations that inflation will return to the 2 to 4% target band by the end of the year could rebuild consumer and business confidence, which would boost spending and investments.

SEC FILINGS 2024

  • RLT 17C Annual Stockholders Meeting
  • RLT_SEC 17Q 3rdQ 2023
  • SEC Form 17-C Approval by PBCOM of Term Loan
  • RLT_SEC 17Q 2ndQ 2023
  • RLT_General Information Sheet (GIS) 2023
  • SEC 17-C Results of ASM
  • SEC 17-C Promotion, and Change in Designation
  • SEC 17-C Corporate Officers, Board and Management Committees
  • RLT_SEC-Form-I-ACGR-CY2022_29May2023
  • RLT_SEC 20IS Preliminary_24May2023
  • RLT_SEC 17Q 3rdQ 2022
  • RLT SEC 17A Annual Report
  • SEC Form 17-C Promotion and Change of Designation of Officer
  • SEC Form 17-C Amendment of By-Laws
  • SEC Form 17-C Annual Stockholders Meeting
  • SEC Form 17-C Resignation and Election of President
  • RLT SEC 17Q 3rdQ 2022
  • RLT SEC 17Q 2ndQ 2022
  • RLT General Information Sheet 2022
  • SEC Form 17-C-Result of Organizational Meeting
  • SEC Form 17-C-Result of ASM
  • Philippine Realty and Holdings Corporation_SEC 17A FY2021
  • RLT_SEC 17Q 1stQ 2022
  • RLT Preliminary Information Statement (20-IS)
  • RLT Notice of Annual Stockholders Meeting 2021
  • RLT SEC-17C Perpetual Corporate Term
  • RLT SEC-17C Amended by Laws
  • RLT SEC-17C Amended Articles of Incorporation
  • Extension for Filing SEC Form 17-A
  • RLT's SEC 17Q 1st quarter for the year 2021
  • RLT's SEC Form 17A for the calendar year 2020
  • RLT SEC Form 20-IS_Preliminary
  • RLT SEC Form 20IS - Definitive
  • RLT SEC-17C Transfer of Lots and Issuance of Shares
  • RLT SEC-17C Result of Annual Stockholders Meeting
  • RLT SEC-17C Officers and Committee Members
  • RLT General Information Sheet 2021
  • RLT SEC-17Q 2Q of 2021
  • RLT SEC-17Q 3Q of 2021
  • RLT SEC-17Q 3Q of 2020
  • RLT-SEC-17C Results of ASM
  • RLT-SEC-17C Officers and Committee
  • RLT-SEC-17C Change in Officers
  • Definitive Information Statement
  • PRHC SEC-17Q 2Q of 2020
  • RLT SEC Form 20-IS (Information Statement)
  • SEC-17Q 1Q of2020
  • SEC 17-A Annual Report
  • Postponement of the Annual Stockholders' Meeting
  • PRHC SEC-17Q 3Q of 2019
  • PHRC SEC-17Q 2Q 2019
  • SEC 17-C Stock Transfer Agent
  • SEC 17-C New set of Corporate Officers and Board Committees
  • SEC 17-C on Related Party Transaction Committee
  • SEC 17-C Results of Annual Stockholders' Meeting
  • SEC Filings 2018
  • PRHC SEC-17Q 1Q 2019
  • PRHC Duly Filed SEC-17C [February 26, 2019]
  • PRHC SEC 17-A CY 2018
  • PRHC 20-IS Definitive
  • 2018 PRHC SFFS
  • 17-C Election of Officers, Board and Management Committees (August 2018)
  • PRHC Duly Filed SEC-17Q 1stQ 2018
  • 2018 General Information Sheet Amended
  • PRHC Duly Filed SEC 17-A CY 2017
  • Duly Filed AFS CY 2017
  • PRHC SEC 17-A-CY 2016
  • Alfredo S. Del Rosario Jr. Elected as Director and President CEO
  • Andrew D. Alcid - Resignation as Director and President CEO
  • Manual on Corporate Governance
  • SEC Ammended GIS [August 20, 2015]
  • SEC Form 17-A [April 29, 2015]
  • SEC Form 17-C [April 14, 2015]
  • Annual SH Meeting [July 06, 2015]
  • Annual Corporate Governance Report [April 29, 2015]
  • SEC Form 17-C [October 16, 2014]
  • SEC Form 23-B – Change in Beneficial Ownership [September 30, 2014]
  • SEC Form 17-C – Appointment of Mr. Ciar as Head of Project and Construction Management [September 24, 2014]
  • SEC Form 17-C – Material Information [September 24, 2014]
  • SEC Form 17-C – Notice of Special Stockholders Meeting [September 24, 2014]
  • SEC Form 17-C – Amendment on the position of Mr. Ciar [September 24, 2014]
  • SEC Form 17-C – Appointment of Ms. Thomas as VP for Human Resources [September 02, 2014]
  • SEC Form 23-B – Change in Beneficial Ownership [August 31, 2014]
  • SEC Form 17-C – Resignation of Mr. Santos as Senior VP and Chief Operating Officer [August 29, 2014]
  • SEC Form 17-C – Resignation of Ms. Abbot as VP for Finance and Administration [August 15, 2014]
  • SEC Form 17-Q – Quarterly Report [August 14, 2014]
  • SEC Form 23-B – Change in Beneficial Ownership [July 31, 2014]
  • SEC Form 17-C – Election of Mr. Kirk Steven Young as Independent Director [July 21, 2014]
  • SEC Form 17-C – Newly elected Corporate Officers and Board Committee [July 17, 2014]
  • SEC Form 23-A – Updated Statement of Beneficial Ownership as of June 30 2014 [July 03, 2014]
  • SEC Form 23-A – Statement of Beneficial Ownership as of June 30 2014 [July 03, 2014]
  • SEC Form 17-C – Resolutions during the Annual Stockholders Meeting [July 01, 2014]
  • SEC Form 23-B – Change in Beneficial Ownership [June 30, 2014]
  • SEC Form 17-C – Demise of Ramon Cuervo III, Independent Director [June 17, 2014]
  • SEC Form 17-C – Announces the Retirement of Mr. Bacani as President [June 04, 2014]
  • SEC Form 23-B – Change in Beneficial Ownership [May 31, 2014]
  • SEC Form 17-C [May 21, 2014]
  • SEC Form 17-Q – Quarterly Report [May 15, 2014]
  • SEC Form 23-B – Change in Beneficial Ownership [May 7, 2014]
  • SEC Form 17-C [April 28, 2014]
  • SEC Form 17-C [April 23, 2014]
  • SEC Form 17-C [April 15, 2014]
  • SEC Form 17-C [April 15, 2014]
  • SEC Form 17-C III [April 02, 2014]
  • SEC Form 17-C II [April 02, 2014]
  • SEC Form 17-C I [April 02, 2014]
  • SEC Form 17-C [April 04, 2014]
  • SEC Form 17-C [March 19, 2014]
  • SEC Form 17-C [February 26, 2014]
  • SEC Form 17-C [February 12, 2014]
  • SEC Form 23-B – Change in Beneficial Ownership [February 12, 2014]
  • SEC Form 23-B – Change in Beneficial Ownership [January 27, 2014]
  • Minutes of the Special Stockholders’ Meeting
  • General Information Sheet [August 07, 2014]
  • General Information Sheet [June 30, 2014]
  • Articles of Incorporation
  • By Laws
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