Dominion Holdings Inc., formerly BDO Leasing and Finance Inc., posted higher earnings of P205.7 million in the first nine months of 2023, compared with P28.1 million in the same period last year.
The company attributed the growth to the repositioning of its investment portfolio towards short-term placements and debt securities at higher interest rates.
Total resources, substantially represented by its investment portfolio, increased to P6.31 billion. Stockholders’ equity expanded to P6.30 billion on higher earnings.
Dominion Holdings holds/owns real estate properties, securities/shares of stocks and other assets of other companies and engage in investment and business activities involving these assets.
The company obtained an approval from the Securities and Exchange Commission on July 18, 2022 to change its corporate name of BDO Leasing and Finance Inc. to “Dominion Holdings, Inc.”, the shift in primary and secondary purposes from a leasing and financing company to that of a holding company, and the corresponding amendments to the it’s articles of incorporation and by-laws.
As an investment holding company, Dominion Holdings has more flexibility in pursuing business opportunities that can enhance shareholder value for its stockholders.