Latest posts by Stock Signals Philippines (see all)
- Philippine Seven Corporation (SEVN) – Analysis – November 23, 2017 - November 24, 2017
- Philippine Stock Exchange – Market Wrap-Up Report – 23 November 2017 - November 23, 2017
- Top Gainer and Top Loser Analysis – Philippine Stock Exchange – 23 November 2017 - November 23, 2017
MANILA, Philippines – Bright Kindle Resources & Investments, Inc. (PSE:BKR) ends the first nine months of the year with a 47.6 percent higher net loss at P20.56 million versus last year’s record of P13.93 million. Revenue during the period also dropped by 15.4 percent from P385,678 to P326,374 from the same period last year.
The third quarter performance, however, is a different story with its net income at P45.26 million from a P978,672 net loss last year. This was because other revenues for the quarter amounted to P26.2 million. Meanwhile, revenues decreased from P124,006 to P14,234.
As of September 30, 2016, the assets of the company totaled at P2.86 billion, which is lower than last year’s record of P3.08 billion. Liabilities was lower as well at P1.85 billion from P2.05 against last year record. Equity decreased slightly from P1.03 billion to P1.01 billion. Retained earnings of BKR stood at P169.59 million, which appeared lower than last year’s record at P190.15 million, an eleven percent decline.
The net cash for investments amounted to P3.42 million after the first nine months of the year. This is higher than last year’s record of P1.57 million.
Bright Kindle Resources & Investment, Inc. was incorporated in the country on December 4, 1981. Its primary purpose is to provide and manage credit cards. BKR listed its shares on the Philippine Stock Exchange (PSE) on March 21, 1995. The company has been a subsidiary of Rizal Commercial Banking Corporation (RCBC) until December 27, 2013.
BKR was a licensee of MasterCard International Incorporated (MasterCard), VISA International Service Associates (VISA), and JCB International Co., Ltd. (JCB) in issuing credit cards and acquiring transactions including cards by Union Pay International (UPI).
At present, the parent company of BKR is RYM Business Management Corp., which owns 81.77 percent interest in the company. RCBC’s board of directors agreed to sell its 89.98 collective stakes in the company on October 18, 2013. The 10 members of its board have a combined 6.67 percent of common shares in the company. The biggest stockholder in the company is Macario U. Te with 3.34 percent or 51.001 million common shares. The investment firm’s outstanding 1.528 billion common shares are registered with the PSE.
The company is considered to be the single biggest stockholder among Marcventures Holdings Inc.’s stockholders. It has 600 million shares or 32.94 percent of the totality of shares. In 2014, BKR decided to acquire 32.94 percent stake in the Marcventures Holdings Inc.’s nickel mining firm.
The management now engages in the exchange, acquisition, allocation, and holding investments and all properties. These activities involve bonds, debentures, stock shares, promissory notes, and other securities.
BKR shares closed at 1.25-apiece last November 18, 2016, 5.30 percent down year to date.