Sta. Lucia Land

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Sta. Lucia Land, Inc. (PSE: SLI) is a publicly-listed company. The company initially started out as a mining company under the Zipporah Mining and Industrial Corporation but eventually shift to real estate business. Its mother company, Sta. Lucia Realty and Development, Inc. owns the Sta. Lucia franchise in the Philippine Basketball Association, which was sold to the Meralco in 2010. As of January 15, 2011, Sta. Lucia Land has a total market capitalization of P19.6 billion and share price of P1.74.

Contents

Company profile

Sta. Lucia, Inc. was incorporated in 1996 under the name Zipporah Mining and Industrial Corporation primarily to engage in mining activities. The company’s Articles of Incorporation was subsequently amended on change its company name to Zipporah Realty Holdings, Inc, and its primary purpose was change to real estate development.

Sta.Lucia Realty was incorporated in 1972 by members of the Robles-Santos Family with the primary objective of engaging in real estate development. It has since become one of the Philippines leading real estate development companies. From 1972 to 2007, SLR has been engaged in the development of over 9,000 hactares of land through 177 development projects through out the Philippines. Of these 177 projects, a total of 100 were completed as of December 31, 2007.

Sta. Lucia Realty is also a leading developer of golf courses in the Philippines, having developed the largest number of golf courses in the country. SLR has also developed the 10.5-hectare Sta. Lucia Grand Mall in Cainta, Rizal which it transferred to Sta. Lucia Land. In 2007, majority of Ziporrah Realth Holdings’ shares were acquired by Sta. Lucia Realty and Development, Inc. through property-share swap and changed its name to Sta. Lucia Land, Inc.

Restructuring

As part of a restructuring program, the board approved the following on June 15, 2007, which the shareholders subsequently approved on July 16, 2007:

  1. Increase in the authorized capital stock of the Registrant by P14 billion, from P2.0 billion to P16 billion, divided into 16 billion shares with a par value of P1.00 per share.
  2. Subscription of SLRDI of up to 10 billion shares out of the increase the authorized capital stock;
  3. Sta. Lucia Land’s subscription to such shares shall be at par value, the consideration for which shall be the assignment and transfer by company to the Registrant of assets acceptable to the Board at a reasonable discount on the market value of such assets

Recent business development

At the end of 2010, Sta. Lucia Land, Inc. Chairman Exequiel Robles announced that the company will push through with a P5 billion to P10 billion capital raising program through secondary offering in 2011.

Notable residential and commercial properties

Financial highlights

As of September 30, 2010, Sta. Lucia’s total assets increased by P600 million to P12.5 billion from P11.9 billion of the same period last year. Total revenues up until that period totalled to P1.04 billion while net income amounted to P94.8 billion compared to just P17.8 billion a year ago.

External links

References

Citation

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