DISCLOSURES

LATEST DISCLOSURE

March 31, 2023

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

The financial results for the first three 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 after tax of ₱30.7 Million. But in spite of this, the Group was able to maintain healthy and very conservative liquidity and solvency ratios.

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

The National Government (NG) debt stood at a fresh record high of ₱13.9 Trillion as of end-March this year, higher than the ₱13.8 Trillion in February, and ₱13.7 Trillion in January. Of the total debt stock, 68.7%, was sourced domestically, while 31.3% came from external borrowings.

Meanwhile, the Philippine economy as measured by Gross Domestic Product (GDP) – the total value of goods and services produced in a specific period - grew slower at 6.4% in the first three months of 2023 as elevated inflation, which stood at 8.3% in the same period, dampened consumer spending. This is also the Philippine economy’s slowest GDP growth since the country graduated from the pandemic-induced recession in the second quarter of 2021 when it booked a growth rate of 12%.

However, in spite of the increase in the NG’s debt and slower GDP growth as presented above, records show that the amount of the country’s debt relative to the size of the economy shrunk as of the first quarter of 2023. The debt-to-GDP ratio represents the amount of the government’s debt stock relative to the size of the economy.

For the January to March 2023 period, the Philippines' debt-to-GDP ratio stood at 61%, down from 63.5% in the first quarter of 2022.

Finance Secretary Diokno said that the government’s Medium-Term Fiscal Framework (MTFF) aims to bring down the debt-to-GDP ratio to less than 60% by 2025 then further down to 51.1 percent 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.

The Finance Secretary also said that the budget deficit-to-GDP ratio stood at 4.84% in the first quarter of 2023, down from 6.41% in the first quarter of 2022.

Overall inflation in the Philippines slowed further to 7.6% in March 2023 from 8.6% in February 2023 and from a 14-year high of 8.7% in January. The inflation rate in March 2022 was lower at 4.0%. The average inflation for the first quarter of 2023 stood at 8.3%, still well above the Bangko Sentral ng Pilipinas’ (BSP) 2 to 4% target range and 6% full-year forecast. Since May 2022, the BSP has raised rates by 425 basis points to combat inflation. This brought the key policy rate to a near 16-year high of 6.25%.

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 2023

  • 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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