It seems that Dominion Holdings, Inc. (formerly BDO Leasing & Finance, Inc. or BLFI) had a strong financial performance in 2022 compared to the previous year. The net income increased by 59% to P69.3 million, which is a positive sign for the company. This increase was mainly due to the significant surge in gross income by 122% to P126.8 million, which was largely driven by gains on its Unit Investment Trust Fund (UITF) investment.
Additionally, it appears that the company has taken advantage of the rising interest rates by shifting its funds to higher-yielding short-term time deposits. This strategy may help the company generate higher returns on its investments and boost its overall financial performance.
Overall, these developments suggest that Dominion Holdings, Inc. is making sound financial decisions and is well-positioned for future growth and success.
With approvals from its Board of Directors and stockholders, Dominion Holdings already voluntarily surrendered its secondary license as a financing company to the Securities and Exchange Commission (SEC).
On July 21, 2022, the Company obtained SEC approval dated July 18, 2022 for the change in 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 Company’s Articles of Incorporation and By-laws.
As an investment holding company, Dominion Holdings will have more flexibility in pursuing business opportunities that can enhance shareholder value for its stockholders.
Dominion Holdings Inc.’s primary purpose is to hold/own real estate properties, securities/shares of stocks, and other assets of other companies, and engage in investment and business activities involving these assets.
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