Dominion Holdings, Inc., previously known as BDO Leasing & Finance, Inc. (BLFI), disclosed a net profit of ₱125.3 million during the first half of 2023, a significant increase from ₱3.7 million in the same period of 2022. The company's gross income surged over six-fold to ₱162.3 million due to the strategic allocation of its resources towards higher-yield investments and debt securities, taking advantage of favorable prevailing interest rates.
The company's total assets amounted to ₱6.3 billion, with a substantial portion in short-term investments. Total Stockholders Equity experienced growth, reaching ₱6.25 billion, primarily driven by accumulated net profits.
Introducing Dominion Holdings, Inc. (previously known as BDO Leasing & Finance, Inc.)
Dominion Holdings Inc. is primarily focused on possessing and managing real estate properties, securities, shares of stocks, and other assets of various companies. It engages in investment and business endeavors related to these assets.
On July 21, 2022, the company received approval from the Securities and Exchange Commission (SEC), dated July 18, 2022, to undergo significant changes. This included a corporate name change from BDO Leasing and Finance Inc. to "Dominion Holdings, Inc." as well as a shift in its primary and secondary objectives. These changes transformed the company from a leasing and financing entity into a holding company, prompting corresponding amendments to its Articles of Incorporation and By-laws.
As an investment holding company, Dominion Holdings will enjoy greater adaptability in pursuing business opportunities that can enrich shareholder value for its investors.
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