Thursday, December 18, 2003
Actual capital infusion lower by P489M in 2003
By Christie Enriquez-Uayan
WHILE investment commitments in the region registered a 52.3 percent increase, records from the Securities and Exchange Commission (SEC) Davao office showed a decrease in the total paid up capital infused in the Southern and Central Mindanao regions.
Last year, P884 million was infused in these areas, while this year's total figure only recorded a total of P394.2 million.
While new investments for partnerships surpassed last year's level, it was not enough to offset huge deficiencies in the total amount of paid up capital for corporations and direct foreign investments.
SEC Davao records revealed that a total of P46.3 million was invested in Southern and Central Mindanao as of November, higher than its level last year, pegged at P39.2 million.
However, only P194 million was infused by new corporations--not even half of the figure last year--which reached P462 million.
Direct foreign investments also reduced to P154 million as of November this year, only 40 percent of 2002's figure of P382.8 million.
Of the total 121 new partnership firms, 91 are operating in Davao, six in General Santos City, five in Digos City, three in Tagum and two each in South Cotabato, Davao del Sur, ComVal, Panabo City and Kidapawan City.
Island Garden City of Samal, Koronadal City, Sultan Kudarat, Bislig City, Cotabato City, Davao del Norte had one new investor each.
Paid up capital by corporations was also highest in Davao City at P105.3 million, with General Santos accommodating the second highest capital infusion at P23.8 million
Businessmen from British Virgin Islands, meanwhile, accounted for the highest investment by foreign nationals, amounting P127.7 million of the P153.89 million.
Other foreign investors were Taiwanese, Korean, Australian, Japanese, Chinese, American, Dutch, British, Sngaporean, Italian, Jordanian and Canadian.
(December 18, 2003 issue)
Write letter to the editor. Click here.
Join the Sun.Star message board. Click here. |
