Megaworld Corporation: Osias Colleges, Inc
Megaworld Corporation: Osias Colleges, Inc
Megaworld Corporation: Osias Colleges, Inc
History
Megaworld Properties & Holdings Inc. was founded by Andrew Tan and incorporated under
Philippine law on August 24, 1989, primarily aimed at engaging in real estate development,
leasing, and marketing.
In 1994, it spun off Empire East Land Holdings Inc., which focused on the middle income market.
It was converted to a public company on July 15, 1994.[4]
On August 19, 1999, the company changed its name to Megaworld Corporation in line with its
conversion from a purely real estate company to a holding company, though the company's core
focus continues to be on real estate.
Andrew Tan has served as Chairman of the Board and President of the company since its
incorporation in 1989.
Megaworld renewed its congressional franchise for another 25 years on June 26, 2014 one day after
celebrating their silver anniversary. Under Philippine law, this real estate development company will
operate with franchise from Philippine congress, an authority that limits and regulates development and
operations of condominiums, hotels and shopping centers.
In a disclosure, the listed property developer said the funds allocated for the buyback would be
internally generated.
“The board believes that current market prices do not reflect the true value of the company’s shares
and seeks to enhance shareholder value through a share buyback program,” Megaworld said.
The shares to be bought under the program, which began on February 28, will be registered as treasury
stocks. Other terms of the program are subject to review of the management.
“The actual number of shares to be repurchased and the company’s capital structure after the buyback
program cannot as yet to be determined as these will depend on the total buyback of the shares,”
Megaworld said.
As of Feb. 28, 2020, the company has an authorized capital stock of P46.14 billion. Recently, Megaworld
launched a condominium project, to be constructed in its 140-hectare (ha) Maple Grove township in
General Trias City, Cavite province. It eyes P1.4 billion in sales from the project, which is slated for
completion by 2025.
The residential development ― to be built in the township’s 35-ha Maple Grove Business District ― will
have 238 studio, one-bedroom and two-bedroom units. Megaworld shares inched up by 2 centavos or
0.59 percent to finish at P3.40 each on Friday.
Ayala Land, Inc. (ALI) was formerly the real estate division of Ayala Corporation (AC)
and was incorporated on June 30, 1988 to focus on the development of its existing real estate assets. In
July 1991, the Company became publicly-listed through an initial public offering of its primary and
secondary shares on the Makati and Manila Stock Exchanges.
ALI is engaged in the planning and development of large scale, integrated estates having a mix of use for
the sale of residential lots and buildings, office buildings and commercial and industrial lots, leasing of
commercial and office spaces and the development, operation and management of hotels and resorts.
The Company also develops commercial and industrial parks and is also engaged in property
management, construction and other businesses like retail and healthcare.
Among the Company’s subsidiaries are Alveo Land Corporation; Avida Land Corporation; Ayala Property
Management Corporation; Makati Development Corporation; North Triangle Depot Commercial
Corporation; Laguna Technopark, Inc.; and Ten Knots Philippines, Inc.Ayala Land, Inc. (ALI) is a real
estate firm based in the Philippines. It is a subsidiary of Ayala Corporation. It began as a division of Ayala
Corporation until it was spun off and incorporated in 1988. It became publicly listed in the Philippine
Stock Exchange (PSE: ALI) in 1991. Its core businesses are in strategic landbank management, residential
development, shopping centers, corporate businesses, and hotels & resorts. Support businesses are in
construction and property management. ALI also derives other income from its investment activities and
sale of non-core assets.[1][2][3] Last April 2015, ALI bought a minority stake in Malaysian property
developer MCT Bhd. In a P1.9-billion ($43-million) deal.[4]
The additional P25 billion budget to the current share buyback program was approved by the company’s
directors, bringing the available balance to P26.1 billion, ALI disclosed to the Philippine Stock Exchange
on Friday. The program will be implemented through open market purchases executed via the trading
facilities of the local bourse.
Companies embark on share buyback programs when they deem their shares as undervalued by the
markets. Meanwhile, ALI’s board also approved a fresh P10 billion fund-raising through the issuance of
retail bonds, to partially finance general corporate requirements and to refinance maturing loans. This is
under its current shelf registration program and will be listed on the Philippine Dealing and Exchange
Corporation.
The board also approved the declaration of cash dividends of P0.268 per outstanding common share.
This reflects a 3-percent increase from the cash dividends declared in the first half of 2019 amounting to
P0.26 per share.
The cash dividends will be payable on 20 March 2020, to stockholders of common shares as of record
date March 6, 2020.