The Board of Directors of DoubleDragon Corporation has approved the Retail Bond issuance of up to P10 Billion. The Philippine Rating Services Corporation (PhilRatings) has assigned an Issue Credit Rating of PRS Aaa to DoubleDragon Corporation’s (DoubleDragon) proposed bond issue of up to Php10 Billion. DoubleDragon Corporation is also one of the few companies in the Philippines with credit rating PRS Aaa (Triple A) from Philippine Rating Services Corporation, the highest rating tier by PhilRatings.
PhilRatings likewise assigned an Issuer Credit Rating of PRS Aaa (Triple A) to DoubleDragon Corporation. DoubleDragon is also one of the few companies in the Philippines with credit rating PRS Aaa (Triple A) from Philippine Rating Services Corporation, the highest rating tier by PhilRatings. DoubleDragon's Total Equity is set to exceed P100 Billion for the first time in 2024. The Company is positioned to become one of the few companies in the Philippines with Total Equity at 12 digit level. DoubleDragon happens to be one of the very few companies that has not only positioned a diversified hard asset portfolio spread out across the Philippines, but it also happens to be one of the very few that has organically developed a novel asset-light concept and highly unique business model in Hotel101 (HBnB) that is portable and exportable to other continents globally. The export of Hotel101 is expected to eventually become one of the major US Dollar inflow generator to the Philippine economy. DoubleDragon's string of titled investment properties strategically planted in prime locations spread out in Luzon, Visayas, Mindanao and Overseas serves as its strong underlying solid foundation. On top of its string of diversified hard assets portfolio in the Philippines, DoubleDragon happens to be one of the few companies in the Philippines that was able to organically develop a novel and unique business model and brand in Hotel101 that is highly portable and exportable to multiple continents. The upcoming Hotel101 Global listing in the US to further strengthen DoubleDragon's balance sheet. DoubleDragon Corporation recently reports Consolidated Net Income grew +23.25% year-on-year to P15.93 Billion for the year ending December 31, 2023, with Consolidated Revenues at P24.74 Billion for the same period. Total Assets of the Company are up +15.59% year-on-year to P181.24 Billion as of December 31, 2023. Total Equity grew +15.88% year-on-year to P94.57 Billion as of December 31, 2023. DoubleDragon’s Debt-to-Equity ratio stood at a very healthy 0.64x as of December 31, 2023. DoubleDragon Corporation is chaired and co-chaired by two Filipino entrepreneurs—Mang Inasal Founder, Edgar “Injap” Sia II and Jollibee Founder, Tony Tan Caktiong.
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