Dominion Holdings, Inc. (previously BDO Leasing & Finance, Inc. or BLFI) reported a net income of P28.0 million in the first nine months of 2022, down from P39.8 million the previous year.
Rising interest rates increased the fair value gain on its investments to P49.5 million in the 9th month of 2022, up from P45 million in the same time the previous year. However, overall expenses increased to P21.5 million from P13.1 million, owing primarily to a BIR tax adjustment for the preceding quarter.
Dominion Holdings has already voluntarily resigned its secondary license as a finance business to the Securities and Exchange Commission, with consent from its Board of Directors and investors (SEC).
On July 21, 2022, the Company received SEC approval for the change in corporate name of BDO Leasing and Finance Inc. to “Dominion Holdings, Inc.,” the shift in primary and secondary purposes from leasing and financing to holding company, and the corresponding amendments to the Company’s Articles of Incorporation and By-laws.
Dominion Holdings, Inc., as an investment holding company, will have greater freedom in exploring business opportunities that will increase shareholder value.
Dominion Holdings, Inc. Information (formerly BDO Leasing & Finance, Inc.)
The principal goal of Dominion Holdings Inc. is to hold/own real estate holdings, securities/shares of stock, and other assets of other firms, and to engage in investing and business activities involving these assets.
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