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Capital deficient DITO should tap its faithful for capital through SRO

June 8, 2022

As of March 31, 2022, DITO CME HOLDINGS (DITO) has a capital deficiency of 9.4 billion. DITO is the parent company of the third telco, Dito Telecommunity (Dito Tel). DITO has an indirect stake of 53.7% of Dito Tel. The 9.4 billion capital deficiency means that DITO’s total liabilities exceed its total assets by 9.4 […]

Franchise may force Dito Tel to float directly and ditch DITO

March 22, 2021

House Bill No. 7332 renewing the franchise of Dito Telecommunity has just passed second reading in the Senate. It will just be a matter of time that the Bill will be approved by Congress and signed into law. Section 12 of the Bill provides that the grantee shall not sell, lease, transfer, grant the usufruct […]

Aspiring major telco Dito Telecommunity roll-out comes to a standstill as gleaned from the 9M20 Chelsea (C) financial reports

November 17, 2020

Chelsea Logistics and Infrastructure Holdings Corp. (C) claims Dito Telecommunity Corporation (Dito) as an associate with a 25% ownership share. Chelsea Logistics is 70% owned by Udenna Corporation. On May 10, 2019, the Company subscribed to 40,833,333 common shares and 22,916,666 preferred voting shares or equivalent to 25% interest of Dito’s authorized capital stock for […]

Regarding negotiations with CNOOC, PXP’s words are out: “to date there are no disclosable information in respect of such ongoing negotiations, including the existence of such ongoing negotiations itself”

October 19, 2020

Among the areas in the South China Sea, Reed Bank is the most promising area for oil and gas exploration.  Reed Bank/Recto Bank is said to contain most of the oil and natural gas in the South China Sea. For that, China is not keen on giving their claim to the area without participation in […]

DITO could end-up as a holding company for significant interests in 3rd telco Dito Telecommunity, Malampaya and South China Sea oil & gas assets, and Chelsea Logistics

October 18, 2020

The two most recent significant business development in the country are the formation of a third telco to challenge the duopoly and resumption of the exploration and development of the Reed/Recto Bank oil and gas prospects as the Malampaya gas is nearing depletion. The government assembled a sizable spectrum and awarded the same to the […]

DITO not only a telco play but may also be a beneficiary of the South China Sea exploration resumption

October 18, 2020

Chinese dilemma in oil & gas exploration in South China Sea Among the areas in the South China Sea, Reed Bank is the most promising area for oil and gas exploration.  Recto Bank is said to contain most of the oil and natural gas in the South China Sea. For this fact, China is not […]

NOW beats DITO in a PE battle

October 11, 2020

Recently, DITO CME Holdings Corp. (DITO) and Now Corporation (NOW) are two companies that registered as among the most actively traded shares in the local bourse.  They even caused slowdowns in the platform of some online brokerages.  Both have connections to telecom players. DITO CME Holdings Corp. (DITO) linked to 3rd Telco DITO CME Holdings […]

Chelsea Logistics (C) 25% owner of 3rd telco also faces current debt funding problems

October 8, 2020

Chelsea Logistics and Infrastructure Holdings Corp. (C) as with other conglomerates is also facing current debt funding problems. Chelsea (C) is a 70% owned subsidiary of Udenna Corporation.  It is primarily engaged in shipping.  It owns several well-known customer facing subsidiaries such as Trans-Asia Shipping, Starlite Ferries, Chelsea Shipping, and the Supercat Fast Ferry Corporation. […]

DITO a shell company holding receivables from Udenna Corp., no reason to be more valuable than the face value of its receivables from Udenna

October 5, 2020

Prior to the entry of Dennison Holdings Corporation in August 2018, DITO CME HOLDINGS CORP. (DITO) was a shell company holding cash of around 1.1 Billion Pesos and some available-for-sale securities/financial assets valued at around 360 Million Pesos. In August 2018, Dennison Holdings Corporation infused capital to DITO in the amount of 1.3 Billion Pesos […]