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DoubleDragon to breach P100 billion total equity for the first time in 2024

MANILA, Philippines – Lauren Hoffman fell short from her vow of making the Olympic standard but did just enough to set a second national record in the women’s 400-meter hurdles of the ICTSI Philippine Athletics Championships at the PhilSports Oval in Pasig Friday.

Hoffman, 25, went for the Paris Games standard of 54.85 seconds but had a misstep in the late stretch and ended up clocking 55.92, which not only copped her the gold medal but also breached the national mark of 56.39 she set a month ago in the Hurricane Collegiate Invitational in Coral Gables, Florida.

It was her second mint and national mar k in this five-day meet, which was organized by the Philippine Athletics Track and Field Association and backed by the Philippine Sports Commission and ICTSI and Milo after her triumph in the 100m hurdles Wednesday.

“My legs were a little tired from earlier so I think I didn’t get the time that I wanted but a win is a win and I was able to compete well and I was happy with that,” said Hoffman, who posted the best time in the morning heats.

Also joining the record-breaking spree was Kristina Knott, who clocked 11.2 that eclipsed the women’s 1hand time 100m mark of 11.3 submitted by Lerma Bulauitan Gabito in the National Open in Manila 24 years ago.

The former Southeast Asian Games sprint queen was trying to go for the Paris standard of 11.07 as she was racing in the finals at press time.

Battle-scarred Eric Cray likewise tried and missed the Paris standard but still dominated the men’s 400m hurdles in 50.51, way ahead of c losest pursuer Connor Henderson, who timed in 54.12.

In the morning events, University of Santo Tomas’ Lanie Carpentero made heads turn after snaring the gold in the wo men’s javelin throw with a 46.49m over a field that included Evalyn Palabrica of the national team, who settled for the bronze with a 45.29m.

Ng Jing Xuan of Malaysia took the silver with a 45.57 in this event backed by CEL Logistics, Inc., Pocari Sweat, SIP, Wireless Link Technologies, Inc., UAI, Masiv Sports, Victory Liner, AAI Worldwide and Filam Sports.

“Masaya ako dahil hindi ako nag-e-expect manalo dahil nag focus ako sa academics,” said the 23-year-old fourth year Fitness and Sports Management student after coming through with the best effort of her life.

Former SEA Games gold winner Sarah Dequinan, now representing Malaybalay, Bukidnon, ruled women’s long jump with a 5.93m to add to her heptathlon conquest the day before where she reasserted her might as the country’s strongest female athlete.

Pasig’s Jun el Gobotia reigned supreme in the men’s 3000m steeplechase where he clocked 9:20.06.

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 issuer’s ability to fulfill its financial obligations is exceptionally robust.

DoubleDragon Corp.’s principal shareholders include Injap Investments Inc., led by Siaand Honeystar Holdings Corp., led by Jollibee Founder Tony Tan Caktiong. — Ian Laqui

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