Catholic Church has billions invested in BPI, Philex, San Miguel
For most of us, it’s a given that the Catholic Church is rich. Proofs of that are their sprawling acres of land, large Church structures and buildings, and millions of pesos of cash collected from mass goers every week.
What a lot of people do not know, though, is that part of the Church’s wealth is its investment in the stocks of several Philippine companies. In fact, reports submitted to the Philippine Stock Exchange (PSE) show that the Church and affiliate Catholic groups are the top stockholders in companies such as the Bank of the Philippine Islands (BPI), Philex Mining Corporation (PX), San Miguel Corporation (SMC), Ayala Corporation (AC), and Phinma Corporation (PHN), among others.
The Roman Catholic Archbishop of Manila, for example, owns more than 300 million shares of BPI and is the bank’s 4th largest owner. How much are these shares worth? As of May 2011, this is valued at more than P17 billion. Yes, that’s seventeen billion pesos, with a B.
Aside from banking, the Roman Catholic Archbishop of Manila, together with its subsidiary hospitals and companies, is also invested in mining and construction.
As of March 31, 2011, it is the top 15th shareholder of Philex Mining Corporation (PX), the country’s biggest mining firm. It owns 3.2 million shares of PX currently worth more than P66 million.
Table: Stock Investments of Catholic Church and affiliate Catholic Groups
| Company | # Shares Owned | Rank in Top 100 | Total Investment Value | |
|---|---|---|---|---|
| ROMAN CATHOLIC ARCHBISHOP OF MANILA | Bank of the Philippine Islands (BPI) | 222,843,681 | 4th | 12,724,374,185 |
| ROMAN CATHOLIC ARCHBISHOP OF MLA (REAL CASA DE MISERICORDIA) | Bank of the Philippine Islands (BPI) | 41,408,841 | 8th | 2,364,444,821 |
| ROMAN CATHOLIC ARCHBISHOP OF MANILA (HOSPITAL DE SAN JUAN DE DIOS) | Bank of the Philippine Islands (BPI) | 22,072,182 | 13th | 1,260,321,592 |
| ROMAN CATHOLIC ARCHBISHOP OF MLA (HOSPICIO DE SAN JOSE) | Bank of the Philippine Islands (BPI) | 6,016,624 | 15th | 343,549,230 |
| ROMAN CATHOLIC ARCHBISHOP OF MLA (HOSP DE SA JUAN DE DIOS) | Bank of the Philippine Islands (BPI) | 4,285,572 | 17th | 244,706,161 |
| ROMAN CATHOLIC ARCHBISHOP OF MLA (MAYORDOMIA DELA CATEDRAL) | Bank of the Philippine Islands (BPI) | 2,664,266 | 21st | 152,129,589 |
| ROMAN CATHOLIC ARCHBISHOP OF MLA (ST. PAUL`S HOSPITAL) | Bank of the Philippine Islands (BPI) | 1,772,418 | 26th | 101,205,068 |
| CARMEL OF THE DIVINE INFANT JESUS OF PRAGUE, INC. | Bank of the Philippine Islands (BPI) | 726,819 | 49th | 41,501,365 |
| EL SUPERIOR DE LA CORPORACION FILIPINA DE PADRES AGUSTINOS RECOLETOS | Bank of the Philippine Islands (BPI) | 551,382 | 60th | 31,483,912 |
| ROMAN CATHOLIC ARCHBISHOP OF JARO | Bank of the Philippine Islands (BPI) | 491,385 | 64th | 28,058,084 |
| EL SUPERIOR DE LA CORPORACION FILIPINA DE PADRES AGUSTINOS RECOLETOS | San Miguel Corp (SMC) | 2,370,000 | 31st | 260,700,000 |
| SUPERIOR DE LA CORPORACION ARCHICOFRADIA DE N.P.J.N DE RECOLETOS | San Miguel Corp (SMC) | 1,234,603 | 75th | 135,806,330 |
| CARMEL OF THE DIVINE INFANT JESUS OF PRAGUE, INC. | San Miguel Corp (SMC) | 957,516 | 79th | 105,326,760 |
| ROMAN CATHOLIC BISHOP OF TUGUEGARAO | San Miguel Corp (SMC) | 856,639 | 81st | 94,230,290 |
| REAL MONASTERIO DE LA PURISIMA CONCEPCION DE NUESTRA MADRE SANTA CLARA DE MANILA | San Miguel Corp (SMC) | 809,834 | 83rd | 89,081,740 |
| SUPERIOR DE LA CORPORACION DE PADRES RECOLETOS POR BECAS Y VOCACIONES | San Miguel Corp (SMC) | 621,702 | 89th | 68,387,220 |
| CARMEL OF ST THERESE OF THE CHILD JESUS | San Miguel Corp (SMC) | 592,956 | 91st | 65,225,160 |
| THE DISCALCED CARMELITE NUNS OF CEBU | San Miguel Corp (SMC) | 451,864 | 95th | 49,705,040 |
| ROMAN CATHOLIC BISHOP OF NUEVA SEGOVIA DE VIGAN | San Miguel Corp (SMC) | 428,067 | 98th | 47,087,370 |
| ROMAN CATHOLIC ARCHBISHOP OF MANILA | Philex Mining Corp (PX) | 3,221,135 | 15th | 66,677,495 |
| RELIGIOUS OF THE VIRGIN MARY - B | Philex Mining Corp (PX) | 3,125,777 | 16th | 64,703,584 |
| RELIGIOUS OF THE VIRGIN MARY-A | Philex Mining Corp (PX) | 1,091,027 | 69th | 22,584,259 |
| ROMAN CATHOLIC BISHOP OF TUGUEGARAO | Ayala Corporation (AC) | 24,015 | 73rd | 9,289,002 |
| KNIGHTS OF COLUMBUS FRATERNAL ASSOCIATION OF THE PHILS, INC. | Ayala Corporation Preferred Shares - A (ACPA) | 60,000 | 2nd | 31,800,000 |
| ROMAN CATHOLIC BISHOP OF TAGBILARAN | Ayala Corporation Preferred Shares - B (ACPR) | 10,000 | 64th | 1,015,000 |
| DAUGHTERS OF CHARITY OF ST. VINCENT DE PAUL | PHINMA Corp. (PHN) | 159,575 | 19th | 2,122,348 |
| ROMAN CATHOLIC BISHOP OF THE DIOCESE OF JUAN DE DIOS | PHINMA Corp. (PHN) | 153,880 | 20th | 2,046,604 |
| RELIGIOUS OF THE VIRGIN MARY | PHINMA Corp. (PHN) | 58,975 | 52nd | 784,368 |
| ROMAN CATHOLIC ARCHBISHOP OF MANILA | Concrete Aggregates Corp (CA) | 78,846 | 9th | 3,469,224 |
| ROMAN CATHOLIC ARCHBISHOP OF MLA (REAL CASA DE MISERICORDIA) | Concrete Aggregates Corp (CA) | 13,067 | 18th | 574,948 |
| ROMAN CATHOLIC ARCHBISHOP OF MANILA (HOSPITAL DE SAN JUAN DE DIOS) | Concrete Aggregates Corp (CA) | 8,317 | 24th | 365,948 |
| ROMAN CATHOLIC ARCHBISHOP OF MLA (HOSPICIO DE SAN JOSE) | Concrete Aggregates Corp (CA) | 1,898 | 66th | 83,512 |
| ROMAN CATHOLIC ARCHBISHOP OF MLA (MAYORDOMIA DELA CATEDRAL) | Concrete Aggregates Corp (CA) | 841 | 97th | 37,004 |
| ROMAN CATHOLIC ARCHBISHOP OF MANILA | ISM Communications (ISM) | 38,399 | 48th | 126,333 |
| SOCIETY OF THE DIVINE WORD | Filipino Fund Inc. (FFI) | 6,000 | 24th | 48,000 |
| ROMAN CATHOLIC BISHOP OF BANGUED | Filipino Fund Inc. (FFI) | 1,500 | 49th | 12,000 |
| CATHOLIC WOMENS LEAGUE | Benguet Corp. - A (BC) | 215 | 53rd | 4,107 |
| CORPORACION DE PADRES DOMINICOS | EEI | 75,000 | 75th | 256,500 |
* Rank in Top 100 – rank in the Top 100 Stockholders of the Company, a report submitted by the company to the PSE
** Total Investment Value – peso value of total shares owned, as of May 27, 2011 closing prices
Read the full article here: http://www.pinoymoneytalk.com/church-philippines-rich-wealth-stocks/
Partido Kalikasan Commentary:
Roman catholic institutions in the Philippines are investing in mining. This church having been so vocal and political on mining issue must be consistent with its political position. If they are anti mining, they should not be investing in mining corporations.
We call on the Roman Catholic Church to immediately remove their investments in mining. They cannot speak against it if they are earning out of it.
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