CURRENT REPORT UNDER SECTION 17 OF THE SECURITIES REGULATION CODE AND SRC RULE 17.2(c) THEREUNDER
1. Date of Report (Date of earliest event reported)
Jun 7, 2024
2. SEC Identification Number
30354
3. BIR Tax Identification No.
287191423000
4. Exact name of issuer as specified in its charter
DoubleDragon Corporation
5. Province, country or other jurisdiction of incorporation
Republic of the Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
DD Meridian Park Bay Area Brgy 76 Zone10, San Rafael, Pasay City, Metro Manila, PhilippinesPostal Code1302
8. Issuer's telephone number, including area code
+63288567111
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class
Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common
2,345,028,600
Preferred
100,000,000
Total Debt (In Millions of Pesos)
63,261.82
11. Indicate the item numbers reported herein
Item 9
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
DoubleDragon CorporationDD
PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C) Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
DoubleDragon to issue Retail Bonds of up to Php10 Billion
Philippine Rating Services Corporation (PhilRatings) has assigned an Issue Credit Rating of PRS Aaa to DoubleDragon Corporation’s (DoubleDragon) proposed bond issue of up to Php10 Billion
PhilRatings likewise assigned an Issuer Credit Rating of PRS Aaa (Triple A) to DoubleDragon
Background/Description of the Disclosure
DoubleDragon Corporation is also one of the few companies in the Philippines with credit rating PRS Aaa (Triple A) from Philippine Rating Services Corporation, the highest rating tier by PhilRatings
Today, June 7, 2024, the Board of Directors of DoubleDragon Corporation has approved the Retail Bond issuance of up to Php10 Billion. The Philippine Rating Services Corporation (PhilRatings) has assigned an Issue Credit Rating of PRS Aaa to DoubleDragon Corporation’s (DoubleDragon) proposed bond issue of up to Php10 Billion.
PhilRatings likewise assigned an Issuer Credit Rating of PRS Aaa (Triple A) to DoubleDragon Corporation. DoubleDragon is also one of the few companies in the Philippines with credit rating PRS Aaa (Triple A) from Philippine Rating Services Corporation, the highest rating tier by PhilRatings.
DoubleDragon's Total Equity is set to exceed Php100 Billion for the first time in 2024. The Company is positioned to become one of the few companies in the Philippines with Total Equity at 12 digit level. DoubleDragon happens to be one of the very few companies that has not only positioned a diversified hard asset portfolio spread out across the Philippines, but it also happens to be one of the very few that has organically developed a novel asset-light concept and highly unique business model in Hotel101 (HBnB) that is portable and exportable to other continents globally. The export of Hotel101 is expected to eventually become one of the major US Dollar inflow generator to the Philippine economy.
DoubleDragon's string of titled investment properties strategically planted in prime locations spread out in Luzon, Visayas, Mindanao and Overseas serves as its strong underlying solid foundation.
On top of its string of diversified hard assets portfolio in the Philippines, DoubleDragon happens to be one of the few companies in the Philippines that was able to organically develop a novel and unique business model and brand in Hotel101 that is highly portable and exportable to multiple continents.
The upcoming Hotel101 Global listing in the US to further strengthen DoubleDragon's balance sheet.
DoubleDragon Corporation recently reports Consolidated Net Income grew +23.25% year-on-year to Php15.93 Billion for the year ending December 31, 2023, with Consolidated Revenues at Php24.74 Billion for the same period.
Total Assets of the Company are up +15.59% year-on-year to Php181.24 Billion as of December 31, 2023. Total Equity grew +15.88% year-on-year to Php94.57 Billion as of December 31, 2023. DoubleDragon’s Debt-to-Equity ratio stood at a very healthy 0.64x as of December 31, 2023.
DoubleDragon Corporation is chaired and co-chaired by two Filipino entrepreneurs -- Mang Inasal Founder, Edgar “Injap” Sia II and Jollibee Founder, Tony Tan Caktiong.
DoubleDragon CorporationDD