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Sunday, June 5, 2011

Catholic Church in the Philippines has billions invested in BPI, Philex, San Miguel


Catholic Church in the Philippines has billions invested in BPI, Philex, San Miguel

For most of us, it’s a given that the Catholic Church is rich. Proofs of that are their sprawling acres of land, large Church structures and buildings, and millions of pesos of cash collected from mass goers every week.

What a lot of people do not know, though, is that part of the Church’s wealth is its investment in the stocks of several Philippine companies. In fact, reports submitted to the Philippine Stock Exchange (PSE) show that the Church and affiliate Catholic groups are the top stockholders in companies such as the Bank of the Philippine Islands (BPI), Philex Mining Corporation (PX), San Miguel Corporation (SMC), Ayala Corporation (AC), and Phinma Corporation (PHN), among others.

The Roman Catholic Archbishop of Manila, for example, owns more than 300 million shares of BPI and is the bank’s 4th largest owner. How much are these shares worth? As of May 2011, this is valued at more than P17 billion. Yes, that’s seventeen billion pesos, with a B.

Aside from banking, the Roman Catholic Archbishop of Manila, together with its subsidiary hospitals and companies, is also invested in mining and construction.

As of March 31, 2011, it is the top 15th shareholder of Philex Mining Corporation (PX), the country’s biggest mining firm. It owns 3.2 million shares of PX currently worth more than P66 million.

It is also a top investor of Concrete Aggregates Corp. (CA), a supplier of construction materials such as processed aggregates, ready mix concrete and crushed sand. Its investment in CA is currently valued at around P4.5 million.

The Roman Catholic Archbishop of Manila is not the only diocese invested in Philippine stocks. Other dioceses with millions of pesos worth of stock investments include:
  • Roman Catholic Bishop of Tuguegarao, Cagayan – owns 856,639 shares of SMC worth P94 million
  • Roman Catholic Bishop of Nueva Segovia de Vigan – owns 428,067 shares of SMC worth P47 million
  • Roman Catholic Archbishop of Jaro, Iloilo – owns 491,385 shares of BPI worth a total of P28 million
  • Roman Catholic Bishop of Tuguegarao, Cagayan – owns 24,015 shares of Ayala Corp worth P9.3 million
Several affiliate Catholic groups apparently also have huge investments in Philippine companies. More than P500 million pesos worth of San Miguel Corp (SMC)‘s shares, for example, are owned by three (3) Catholic groups:
  • El Superior de la Corporacion Filipina de Padres Agustinos Recoletos – 2.37 million shares worth P260.7 million
  • Superior de la Corporacion Archicofradia de N.P.J.N de Recoletos – 1.23 million shares worth P136 million
  • Carmel of the Divine Infant Jesus of Prague, Inc. – 957,000 shares worth P105 million
All this talk of stock investments is merely the tip of the iceberg since the listing only includes the Church’s investments in PSE-traded firms. We do not know how much more it has invested in private corporations, in companies outside the Philippines, in bonds, in time deposit accounts or in real estate properties.

Yes, we understand that the Church has to invest its money in various assets, including stocks. We do not contend that and we recognize its right to invest their money anywhere they want. Actually, this is good because this shows that the Church is financially-literate. What we just hope here at Moneygurado blog is for them to share the same to members of the Catholic community.

Apart from shaping the morality of the people, the Church should also do its part in providing financial education to its flock. The weekly Sunday sermons should, therefore, include not just lessons about being morally upright. The Church should also convince mass goers to work and pursue livelihood and to get rid of their sole dependence on God (“Bahala na ang Diyos sa amin”).

The Church should educate its people about the value of earning, saving and investing money and not condone Catholics who are already contented in life even if they are penniless (“Blessed are the poor in spirit for theirs is the Kingdom of heaven”).

More importantly, we believe the Catholic Church should play a more pivotal and proactive role in helping solve the ills of the country. The billions of pesos of investments (as seen in the table below) can go a long way in uplifting the lives of poor Filipino people who, admittedly, form the critical mass of supporters of the Catholic Church.

Yes, the Church is already doing its share by running hospitals and orphanages, by providing assistance to those who come to them for help, and by offering moral guidance.

But they can do more and they should do more. They owe it to the millions of Filipinos who went to Church every Sunday and donated the billions of pesos that the Church now owns. 

Table: Stock Investments of Catholic Church and affiliate Catholic Groups


Company
# of shares Own
Rank in Top 100
Total Investment value
ROMAN CATHOLIC ARCHBISHOP OF MANILA
Bank of the Philippine Islands (BPI)
222,843,681
4th
12,724,374,185
ROMAN CATHOLIC ARCHBISHOP OF MLA (REAL CASA DE MISERICORDIA)
Bank of the Philippine Islands (BPI)
41,408,841
8th
2,364,444,821
ROMAN CATHOLIC ARCHBISHOP OF MANILA (HOSPITAL DE SAN JUAN DE DIOS)
Bank of the Philippine Islands (BPI)
22,072,182
13th
1,260,321,592
ROMAN CATHOLIC ARCHBISHOP OF MLA (HOSPICIO DE SAN JOSE)
Bank of the Philippine Islands (BPI)
6,016,624
15th
343,549,230
ROMAN CATHOLIC ARCHBISHOP OF MLA (HOSP DE SA JUAN DE DIOS)
Bank of the Philippine Islands (BPI)
4,285,572
17th
244,706,161
ROMAN CATHOLIC ARCHBISHOP OF MLA (MAYORDOMIA DELA CATEDRAL)
Bank of the Philippine Islands (BPI)
2,664,266
21st
152,129,589
ROMAN CATHOLIC ARCHBISHOP OF MLA (ST. PAUL`S HOSPITAL)
Bank of the Philippine Islands (BPI)
1,772,418
26th
101,205,068
CARMEL OF THE DIVINE INFANT JESUS OF PRAGUE, INC.
Bank of the Philippine Islands (BPI)
726,819
49th
41,501,365
EL SUPERIOR DE LA CORPORACION FILIPINA DE PADRES AGUSTINOS RECOLETOS
Bank of the Philippine Islands (BPI)
551,382
60th
31,483,912
ROMAN CATHOLIC ARCHBISHOP OF JARO
Bank of the Philippine Islands (BPI)
491,385
64th
28,058,084
EL SUPERIOR DE LA CORPORACION FILIPINA DE PADRES AGUSTINOS RECOLETOS
San Miguel Corp (SMC)
2,370,000
31st
260,700,000
SUPERIOR DE LA CORPORACION ARCHICOFRADIA DE N.P.J.N DE RECOLETOS
San Miguel Corp (SMC)
1,234,603
75th
135,806,330
CARMEL OF THE DIVINE INFANT JESUS OF PRAGUE, INC.
San Miguel Corp (SMC)
957,516
79th
105,326,760
ROMAN CATHOLIC BISHOP OF TUGUEGARAO
San Miguel Corp (SMC)
856,639
81st
94,230,290
REAL MONASTERIO DE LA PURISIMA CONCEPCION DE NUESTRA MADRE SANTA CLARA DE MANILA
San Miguel Corp (SMC)
809,834
83rd
89,081,740
SUPERIOR DE LA CORPORACION DE PADRES RECOLETOS POR BECAS Y VOCACIONES
San Miguel Corp (SMC)
621,702
89th
68,387,220
CARMEL OF ST THERESE OF THE CHILD JESUS
San Miguel Corp (SMC)
592,956
91st
65,225,160
THE DISCALCED CARMELITE NUNS OF CEBU
San Miguel Corp (SMC)
451,864
95th
49,705,040
ROMAN CATHOLIC BISHOP OF NUEVA SEGOVIA DE VIGAN
San Miguel Corp (SMC)
428,067
98th
47,087,370
ROMAN CATHOLIC ARCHBISHOP OF MANILA
Philex Mining Corp (PX)
3,221,135
15th
66,677,495
RELIGIOUS OF THE VIRGIN MARY - B
Philex Mining Corp (PX)
3,125,777
16th
64,703,584
RELIGIOUS OF THE VIRGIN MARY-A
Philex Mining Corp (PX)
1,091,027
69th
22,584,259
ROMAN CATHOLIC BISHOP OF TUGUEGARAO
Ayala Corporation (AC)
24,015
73rd
9,289,002
KNIGHTS OF COLUMBUS FRATERNAL ASSOCIATION OF THE PHILS, INC.
Ayala Corporation Preferred Shares - A (ACPA)
60,000
2nd
31,800,000
ROMAN CATHOLIC BISHOP OF TAGBILARAN
Ayala Corporation Preferred Shares - B (ACPR)
10,000
64th
1,015,000
DAUGHTERS OF CHARITY OF ST. VINCENT DE PAUL
PHINMA Corp. (PHN)
159,575
19th
2,122,348
ROMAN CATHOLIC BISHOP OF THE DIOCESE OF JUAN DE DIOS
PHINMA Corp. (PHN)
153,880
20th
2,046,604
RELIGIOUS OF THE VIRGIN MARY
PHINMA Corp. (PHN)
58,975
52nd
784,368
ROMAN CATHOLIC ARCHBISHOP OF MANILA
Concrete Aggregates Corp (CA)
78,846
9th
3,469,224
ROMAN CATHOLIC ARCHBISHOP OF MLA (REAL CASA DE MISERICORDIA)
Concrete Aggregates Corp (CA)
13,067
18th
574,948
ROMAN CATHOLIC ARCHBISHOP OF MANILA (HOSPITAL DE SAN JUAN DE DIOS)
Concrete Aggregates Corp (CA)
8,317
24th
365,948
ROMAN CATHOLIC ARCHBISHOP OF MLA (HOSPICIO DE SAN JOSE)
Concrete Aggregates Corp (CA)
1,898
66th
83,512
ROMAN CATHOLIC ARCHBISHOP OF MLA (MAYORDOMIA DELA CATEDRAL)
Concrete Aggregates Corp (CA)
841
97th
37,004
ROMAN CATHOLIC ARCHBISHOP OF MANILA
ISM Communications (ISM)
38,399
48th
126,333
SOCIETY OF THE DIVINE WORD
Filipino Fund Inc. (FFI)
6,000
24th
48,000
ROMAN CATHOLIC BISHOP OF BANGUED
Filipino Fund Inc. (FFI)
1,500
49th
12,000
CATHOLIC WOMENS LEAGUE
Benguet Corp. - A (BC)
215
53rd
4,107
CORPORACION DE PADRES DOMINICOS
EEI
75,000
75th
256,500

* Rank in Top 100 – rank in the Top 100 Stockholders of the Company, a report submitted by the company to the PSE
** Total Investment Value – peso value of total shares owned, as of May 27, 2011 closing prices

Source: Company reports submitted to the Philippine Stock Exchange

website source: www.pinoymoneytalk.com



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