Robinsons Land Corporation (RLC) has submitted its annual progress report to the Philippine Stock Exchange (PSE) and the Securities and Exchange Commission (SEC) detailing the application of proceeds from the block placement of 1 billion Commercial REIT, Inc. (RCR) shares.
The gross proceeds from the block placement, completed on September 25, 2025, amounted to ₱7.75 billion. As of December 31, 2025, the remaining balance of the proceeds stands at ₱7.47 billion, following disbursements for block placement expenses and capital expenditures.
- Block Placement Expenses: ₱91.2 million
- Capital Expenditures:
- Integrated Development (Land Acquisition – Luzon): ₱182.2 million
The disbursements for capital expenditures were primarily allocated to the Integrated Development project, which includes land acquisition in Luzon.
RLC engaged SyCip Gorres Velayo & Co. (SGV & Co.), a member firm of Ernst & Young Global Limited, to perform agreed-upon procedures to ensure the accuracy and proper application of the proceeds. SGV & Co. confirmed that all disbursements were accurately recorded, classified consistently, and supported by appropriate documentation. No exceptions were noted during the audit.
RLC’s Chief Financial, Risk, and Compliance Officer, Max S. Tan, stated, “We are committed to maintaining transparency and accountability in the use of proceeds from the block placement of RCR shares. This report reflects our dedication to adhering to the highest standards of financial reporting and compliance.”
The annual progress report and the accompanying auditor’s report are available for review by the PSE and SEC.
