MANILA, Philippines — Sia-Caktiong-led real-estate development firm DoubleDragon Corp. is poised to exceed P100 billion in total equity for the first time this year.
In a disclosure on Friday, the firm said that it is one of the companies in the country which is positioned to bag a total equity at a 12-digit level.
“DoubleDragon despite being a relatively newer player in a highly competitive industry dominated by long established giants that came way many decades ahead, we are grateful for the grit and hard work of our team and support of all our stakeholders that enabled DoubleDragon to demonstrate that the business landscape of the Philippines is a playing field that allows entrepreneurs to thrive, inspiring more and more entrepreneurs to build more start-ups and push it forward to eventually become large entrenched players over time,” DoubleDragon chairman Edgar Sia II said in a statement.
DoubleDragon’s consolidated net income growth of +23.25% year-on-year to P15.93 billion for the year ending Dec. 31, 2023, with consolidated revenues reaching P24.74 billion during the same period.
As of December 31 last year, the company’s total assets increased by +15.59% year-on-year to P181.24 billion, while total equity grew by +15.88% to P94.57 billion.
The corporation said that the upcoming listing of Hotel101 Global in the US is expected to further fortify DoubleDragon’s balance sheet and support its growth trajectory.
DoubleDragon also mentioned that it is one of the few firms in the country with a PRS Aaa (Triple-A) credit rating from the Philippine Rating Services Corporation.
PRS Aaa-rated obligations represent the highest quality, characterized by very low credit risk. It means that the i ssuer’s ability to fulfill its financial obligations is exceptionally robust.
DoubleDragon Corp.’s principal shareholders include Injap Investments Inc., led by Siaand Honeysta r Holdings Corp., led by Jollibee Founder Tony Tan Caktiong. — Ian Laqui
FORT DEL PILAR, Baguio City — From being Bachelor of Science in National Security Management degree holders, next year’s graduates at the Philippine Military Academy (PMA) would become Bachelor degree holders for Management majors in National Security Studies.
“We’re refocusing only,” explained Lt. Gen. Rowenn Tolentino, Superintendent of the PMA during the presentation of the top graduating cadets on Friday.
Barangay Tubbungon, Surigao City lass, 24-year-old Jeneth Elumba topped this year’s graduating cadets, with six other female cadets on the Top 10. She is going to the Philippine Army.
“We are seeing to it that they are prepared for future wars,” Tolentino said, referring to the external threats.
He said that the improved curriculum for the next PMA class of 2025 was in coordination with the major services of the AFP.
He said that before its finalization for implementation the curriculum underwent a review.
“We thought that, dapat yung curriculum (of the PMA) should be aligned with the needs of the major services (of the AFP),” Tolentino said.
Thus, a new curriculum, which is the Bachelor of Science in Management (Major in Security Studies), focused on their future roles as Lieutenants (in pursuit of a progressive military career).”
Aside from such needs of the major services of the AFP, Tolentino further stressed, “we saw to it that they are prepared for future wars,” specifically external defense.
PMA Dean of Academics, Brigadier Gen. Demar Pauly confirmed that the first graduates under the new curriculum would finish BS Management, major in Security Studies. It is an inter-disciplinary course, composed of subjects that have both the socio-humanistic and techno-scientific sides.
Pauly said that there are two programs on cyber-security, global information system, GIS, special topics on science and technology, engineering subjects while socio-humanistic topics like military history, war and theories, extremism and governance and development including important management topics.
He added that main subject on leadership will still be central in the curriculum
“Maraming leadership subjects, ” Pauly said, adding that PMA is “a leadership institution.”
“So that we will be developing our future leaders… future Lieutenants and also as managers,” he added.