Announcement • Jun 11
Metro Alliance Holdings & Equities Corp., Annual General Meeting, Jul 21, 2026 Metro Alliance Holdings & Equities Corp., Annual General Meeting, Jul 21, 2026, at 10:00 W. Australia Standard Time. New Risk • May 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Filipino stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Market cap is less than US$10m (₱232.7m market cap, or US$3.78m). Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Revenue is less than US$5m (₱208m revenue, or US$3.4m). New Risk • May 09
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Market cap is less than US$10m (₱153.7m market cap, or US$2.54m). Minor Risk Revenue is less than US$5m (₱208m revenue, or US$3.4m). Reported Earnings • May 01
Full year 2025 earnings released: ₱0.014 loss per share (vs ₱0.008 profit in FY 2024) Full year 2025 results: ₱0.014 loss per share (down from ₱0.008 profit in FY 2024). Revenue: ₱167.7m (down 16% from FY 2024). Net loss: ₱4.35m (down 268% from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Board Change • Apr 23
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Sergio Antonio Ortiz-Luis was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 08
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Sergio Antonio Ortiz-Luis was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 13
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Sergio Antonio Ortiz-Luis was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 17
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Sergio Antonio Ortiz-Luis was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 02
Second quarter 2025 earnings released: ₱0.001 loss per share (vs ₱0.013 profit in 2Q 2024) Second quarter 2025 results: ₱0.001 loss per share (down from ₱0.013 profit in 2Q 2024). Revenue: ₱41.8m (down 28% from 2Q 2024). Net loss: ₱392.3k (down 110% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 144% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Announcement • Jul 15
Metro Alliance Holdings & Equities Corp. Approves Board Appointments Metro Alliance Holdings & Equities Corp. at its Annual Shareholders' Meeting for the year 2025 held on July 15, 2025, approved election of Hanniel T. Ngo and Sergio Antonio S. Ortiz-Luis as directors for the ensuing year. Buy Or Sell Opportunity • Jun 10
Now 37% undervalued after recent price drop Over the last 90 days, the stock has fallen 55% to ₱0.35. The fair value is estimated to be ₱0.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Jun 10
Metro Alliance Holdings & Equities Corp., Annual General Meeting, Jul 15, 2025 Metro Alliance Holdings & Equities Corp., Annual General Meeting, Jul 15, 2025, at 10:00 W. Australia Standard Time. Announcement • Jun 09
Metro Alliance Holdings & Equities Corp Announces Resignation of Kenneth T. Gatchalian, President-Regular Director, Effective June 30, 2025 Metro Alliance Holdings & Equities Corp. advises of the resignation of the Company's President-Regular Director Mr. Kenneth T. Gatchalian effective June 30, 2025. The Board of directors in a special meeting held on June 9, 2025, has accepted the resignation of President-Regular Director Mr. Kenneth T. Gatchalian. The resignation is due to his election to the 20th Congress of the Philippines as Representative of the 1st District of Valenzuela. Reported Earnings • Apr 26
Full year 2024 earnings released: EPS: ₱0.009 (vs ₱0.016 loss in FY 2023) Full year 2024 results: EPS: ₱0.009 (up from ₱0.016 loss in FY 2023). Revenue: ₱198.8m (down 18% from FY 2023). Net income: ₱2.60m (up ₱7.38m from FY 2023). Profit margin: 1.3% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 122% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Jan 21
Metro Alliance Holdings & Equities Corp. Provides Update on Legal Proceedings - MAH, Polymax Worldwide Limited and NPC Alliance Corporation, NPC International Limited, Petrochemical Industries Investment Company Metro Alliance Holdings & Equities Corp. (MAH) provided update on Legal Proceedings - MAH, Polymax Worldwide Limited and NPC Alliance Corporation, NPC International Limited, Petrochemical Industries Investment Company have simultaneously withdrawn the three ongoing cases they have filed against each other. Update to Disclosure on Legal Proceedings dated August 1, 2019. As an incident to the civil case instituted by MAH et al versus NPC International Limited et al at the RTC Pasig Branch 159 on August 1, 2019 (Civil Case No. R-PSG 19-02106CV), MAH received notice from the Permanent Court of Arbitration at the Hague, that arbitration proceedings in Geneva, Switzerland, have been instituted by NPC International Limited versus MAH et al. This counter suit prays for payment by the respondent of costs and damages that the claimant has incurred for the preservation of the Bataan polyethylene plant from 2018 to the date of the award. MAH filed its reply, September 16, 2020, questioning the propriety of the arbitration proceedings. The company maintains that RTC Pasig Branch 159 has taken jurisdiction over the case and that the arbitration case filed at the Hague constitutes forum shopping. The company's board and management do not see any effect of this on the business operations of the issuer. Update to Disclosure on Legal Proceedings as of January 20, 2025. In order to demonstrate the Parties-Litigants' goodwill in reaching a comprehensive settlement in relation to their partnership in NPC Alliance Corporation, MAH, Polymax Worldwide Limited and NPC International Limited have simultaneously withdrawn the three ongoing cases they have filed against each other as follows: Metro Alliance Holdings & Equities Corporation, et. al. v. NPC International Limited, et. al., docketed as Civil Case No. R-PSG-19-02106-CV pending before the Regional Trial Court of Pasig City Branch 159; NPC Alliance Corporation, et. al. v. Regional Trial Court Pasig (Branch 159), et. al., docketed as CA-G.R. SP No. 165159 pending before the Court of Appeals Former Twelfth Division; and PCA Case No. 2020-51 pending before the Arbitral Tribunal constituted under the United Nations Commission on International Trade (UNCITRAL) Arbitration Rules in Geneva, Switzerland. The company believes that the aforementioned withdrawal of the cases will avoid a protracted litigation and that an amicable cooperation can be determined by the parties moving forward. Announcement • Dec 10
Metro Alliance Holdings & Equities Corp. Announces Resignation of Independent Director, Byoung Hyun Suh, Effective December 31, 2024 Metro Alliance Holdings & Equities Corp. announced the resignation of Independent Director Mr. Byoung Hyun Suh effective December 31, 2024. The Board of directors in a special meeting held on December 10, 2024 has accepted the resignation of Director Byoung Hyun Suh as independent director effective December 31, 2024. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: ₱0.006 (vs ₱0 in 3Q 2023) Third quarter 2024 results: EPS: ₱0.006 (up from ₱0 in 3Q 2023). Revenue: ₱52.4m (down 12% from 3Q 2023). Net income: ₱1.73m (up ₱1.72m from 3Q 2023). Profit margin: 3.3% (up from 0% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Aug 07
Now 36% overvalued Over the last 90 days, the stock has fallen 43% to ₱0.41. The fair value is estimated to be ₱0.30, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.7% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Aug 02
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 11% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (15% average weekly change). Market cap is less than US$10m (₱118.5m market cap, or US$2.03m). Minor Risk Revenue is less than US$5m (₱219m revenue, or US$3.8m). Announcement • Jun 19
Metro Alliance Holdings & Equities Corp., Annual General Meeting, Jul 24, 2024 Metro Alliance Holdings & Equities Corp., Annual General Meeting, Jul 24, 2024, at 11:00 W. Australia Standard Time. Announcement • Jun 08
Metro Alliance Holdings & Equities Corp. Accepts Resignation of Reno I. Magadia as Regular Director, Effective June 15, 2024 Metro Alliance Holdings & Equities Corp. announced the resignation of director, Reno I. Magadia effective June 15, 2024. The board of directors in a special meeting held on June 5,2024 has accepted the resignation of Director Reno I. Magadia as regular director, effective June 15, 2024. Reported Earnings • Apr 27
Full year 2023 earnings released: ₱0.015 loss per share (vs ₱0.011 profit in FY 2022) Full year 2023 results: ₱0.015 loss per share (down from ₱0.011 profit in FY 2022). Revenue: ₱243.2m (down 27% from FY 2022). Net loss: ₱4.78m (down 244% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. New Risk • Apr 16
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: ₱284m (US$5.0m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 50% per year over the past 5 years. Market cap is less than US$10m (₱170.8m market cap, or US$3.00m). Minor Risk Revenue is less than US$5m (₱284m revenue, or US$5.0m). New Risk • Feb 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Filipino stocks, typically moving 14% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 50% per year over the past 5 years. Market cap is less than US$10m (₱171.4m market cap, or US$3.05m). Recent Insider Transactions • Jan 27
Director recently sold ₱132k worth of stock On the 18th of January, Reno Magadia sold around 300k shares on-market at roughly ₱0.44 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: ₱0 (vs ₱0.011 in 3Q 2022) Third quarter 2023 results: EPS: ₱0 (down from ₱0.011 in 3Q 2022). Revenue: ₱59.7m (down 30% from 3Q 2022). Net income: ₱9.6k (down 100% from 3Q 2022). Profit margin: 0% (down from 4.1% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 38% per year, which means it is performing significantly worse than earnings. Announcement • Oct 10
Metro Alliance Holdings & Equities Corp. Announces Executive and Committee Changes Metro Alliance Holdings & Equities Corp. at its Organizational Meeting 2023 held on October 6, 2023, approved the Election of Corporate Officer: President - Kenneth T. Gatchalian; Treasurer - Richard L. Ricardo; Corporate Secretary - Atty. Nestor S. Romulo; Compliance Officer - Atty. Lamberto B. Mercado, Jr.; Investor Relations Officer - Richard L. Ricardo; Compliance Officer For Anti- Money Laundering Council And Data Protection Officer - Omar M. Guinomla. Constitution of Board Committees: Executive Committee: Elvira A. Ting - Chairman, Atty. Lamberto B. Mercado, Jr. - Member and Nestor S. Romulo - Member. Audit Committee: Atty. Aristeo R. Cruz - Chairman, Atty. Lamberto B. Mercado, Jr - Member and Kenneth T. Gatchalian - Member. Nomination Committee: Atty. Lamberto B. Mercado, Jr. - Chairman, Atty. Nestor S. Romulo - Member and Atty. Aristeo R. Cruz - Member. Compensation Committee: Kenneth T. Gatchalian - Chairman, Reno Magadia - Member and Atty. Aristeo R. Cruz. - Member. Risk Management Committee: Atty. Aristeo R. Cruz - Chairman, Atty. Nestor S. Romulo - Member and Byoung Hyun Suh - Member. Corporate Governance Committee: Atty. Aristeo R. Cruz - Chairman, Byoung Hyun Suh - Member and Atty. Nestor S. Romulo - Member. Announcement • Aug 24
Metro Alliance Holdings & Equities Corp., Annual General Meeting, Oct 06, 2023 Metro Alliance Holdings & Equities Corp., Annual General Meeting, Oct 06, 2023, at 10:00 Singapore Standard Time. Agenda: To consider Call to Order; to Certification of Notice and Quorum; to Approval of the Minutes of the Annual Meeting of Stockholders held on October 6, 2022; to Report of the President; to Presentation and approval of the Annual Financial Statements 2022; to Ratifications of all the actions and proceedings taken by the Board of Directors and Corporate Officers since October 6, 2022; to Election of the Members of the Board of Directors; to Appointment of External Auditor; and to consider other matter. New Risk • Aug 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Filipino stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Negative equity (-₱473k). Earnings have declined by 59% per year over the past 5 years. Market cap is less than US$10m (₱195.9m market cap, or US$3.47m). Minor Risk Share price has been volatile over the past 3 months (8.2% average weekly change). New Risk • Aug 06
New major risk - Negative shareholders equity The company has negative equity. Total equity: -₱473k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Negative equity (-₱473k). Earnings have declined by 59% per year over the past 5 years. Market cap is less than US$10m (₱199.6m market cap, or US$3.59m). Reported Earnings • Aug 05
Second quarter 2023 earnings released: ₱0.002 loss per share (vs ₱0.011 profit in 2Q 2022) Second quarter 2023 results: ₱0.002 loss per share (down from ₱0.011 profit in 2Q 2022). Revenue: ₱62.7m (down 22% from 2Q 2022). Net loss: ₱1.05m (down 132% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Reported Earnings • May 04
Full year 2022 earnings released: EPS: ₱0.011 (vs ₱0.54 loss in FY 2021) Full year 2022 results: EPS: ₱0.011 (up from ₱0.54 loss in FY 2021). Revenue: ₱334.1m (up 14% from FY 2021). Net income: ₱3.32m (up ₱168.4m from FY 2021). Profit margin: 1.0% (up from net loss in FY 2021). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Byoung Y. Hyun Suh was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Aug 23
Metro Alliance Holdings & Equities Corp., Annual General Meeting, Oct 06, 2022 Metro Alliance Holdings & Equities Corp., Annual General Meeting, Oct 06, 2022, at 10:00 Singapore Standard Time. Agenda: To consider presentation and approval of the Annual Financial Statements 2021; to consider ratifications of all the actions and proceedings taken by the Board of Directors and Corporate Officers since October 28, 2021; to consider election of the Members of the Board of Directors; to consider appointment of External Auditor; and to transact other matters. Reported Earnings • May 19
Full year 2021 earnings released Full year 2021 results: Revenue: ₱293.5m (up 7.2% from FY 2020). Net loss: ₱165.1m (down ₱165.3m from profit in FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Byoung Y. Hyun Suh was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 18
Third quarter 2021 earnings released The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ₱75.5m (up 23% from 3Q 2020). Net income: ₱1.23m (down 2.3% from 3Q 2020). Profit margin: 1.6% (down from 2.0% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Announcement • Aug 20
Metro Alliance Holdings & Equities Corp.(PSE:MAHB) dropped from PSE All Share Index Metro Alliance Holdings & Equities Corp. has been removed from Philippines All Share Index. Reported Earnings • Aug 15
Second quarter 2021 earnings released The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: ₱70.9m (up 32% from 2Q 2020). Net loss: ₱1.46m (loss narrowed 47% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 12
New 90-day high: ₱2.91 The company is up 53% from its price of ₱1.90 on 15 October 2020. The Filipino market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Logistics industry, which is down 2.0% over the same period. Is New 90 Day High Low • Nov 24
New 90-day high: ₱2.27 The company is up 41% from its price of ₱1.61 on 26 August 2020. The Filipino market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Logistics industry, which is up 5.0% over the same period. 
