Catholic Church's stock investment


#1

Taken from Facebook page posted by Viginia Omoso Guazon

(both text and attachment)

May this enormous wealth of the Roman Catholic Church be shared with and spent for the poor…


DID YOU KNOW?

Catholic Church has billions invested in BPI, Philex, San Miguel!

For most of us, it’s a given that the Catholic Church is rich. One just has to look at 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 is that the Church is also a stockholder in several Philippine companies; the total investment in these publicly-listed firms comprise a sizable chunk of its total wealth. Reports submitted to the Philippine Stock Exchange (PSE) show that the Church and affiliate Catholic groups are, in fact, 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, is the 4th largest owner of the Bank of the Philippine Islands (BPI) with more than 300 million shares. 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 Church in the Philippines is also invested in mining and construction.

As of March 31, 2011, the Roman Catholic Archbishop of Manila is the 15th top shareholder of Philex Mining Corporation (PX), the country’s largest mining firm. It owns 3.2 million shares of PX currently worth more than P66 million.

(Update August 22, 2011: Catholic Church sold all its Philex shares to Manny Pangilinan?)

It is also an investor in Concrete Aggregates Corp. (CA), a supplier of construction materials such as processed aggregates, ready mix concrete and crushed sand. Its investment in CA is currently valued at around P4.5 million.

The Roman Catholic Archbishop of Manila is not the only diocese invested in Philippine stocks. Other dioceses with significant stock investments include:

Roman Catholic Bishop of Tuguegarao, Cagayan – owns 856,639 shares of SMC worth P94 million

Roman Catholic Bishop of Nueva Segovia de Vigan – owns 428,067 shares of SMC worth P47 million

Roman Catholic Archbishop of Jaro, Iloilo – owns 491,385 shares of BPI worth a total of P28 million

Roman Catholic Bishop of Tuguegarao, Cagayan – owns 24,015 shares of Ayala Corp worth P9.3 million

Affiliate Catholic groups apparently also have huge investments in Philippine companies. More than P500 million pesos worth of San Miguel Corp (SMC)‘s shares, for example, are owned by three (3) Catholic groups:

El Superior de la Corporacion Filipina de Padres Agustinos Recoletos – 2.37 million shares worth P260.7 million

Superior de la Corporacion Archicofradia de N.P.J.N de Recoletos – 1.23 million shares worth P136 million

Carmel of the Divine Infant Jesus of Prague, Inc. – 957,000 shares worth P105 million

All this talk of the Church’s riches is merely the tip of the iceberg since our compilation below only includes the Church’s investments in PSE-traded firms. We do not know how much more is invested in private entities, in companies outside the Philippines, in bonds, in time deposit accounts, or in real estate properties.

-Pinoymoneytalk.com-

I don’t know where she did get this data though.
Any comment?


#2

Please check this pse.com.ph/resource/corpt/2013/BPI_Top100_Jun2013.pdf

That is taken from PSE website under corporate disclosure of every listed company. As per law top 100 owners are to be declared. I did not all the entries but I have verified no.5 Roman Catholic Archbishop of Manila under account number 18001784 there are others I confirm was on the list. It is an official and public document.


#3

So the Church owns various assets.

So what? :shrug:

The Church, the world over, does great things with money, in terms of education, hospitals, infrastructure, and generally ministering in practical ways to the World's poor. Income from assets helps deliver all of this, along with donations. It is a good thing.


#4

As underacloud said, so what. There is no problem with the Church owning assets. The only thing they must not do is to invest in companies which act against the teachings of the Church.
You are making a big deal out of nothing.


#5

Sorry I beg to disagree these are church people’s money we are talking here. This is not a small issue. Big amount of money freely handled by few without those who contributed to it knows what is used for. If it was personally owned by the Pope I don’t mind. I am a Catholic myself I give my donation voluntarily out of my belief that it is used to help the poor as you mentioned and other benevolent activities and for support of the church. What I cannot stand is when the church started to dip their hands in our politics and take sides. That is definitely not the teaching of Christ to get involved in politics. Much more if they use money to wield influence and impose their will and intentions. Let Caesar give what is due unto Caesar right? Still that is the Priest answerable to God. So shall we keep quiet and let them go on with impunity. I can live with that. After all we have accepted that dogma for thousand of years that priest are men of God. There are RC church leaders that are as bad as anyone else they are the very people who look RC church bad. This is one of their acts. I limit my argument on that scope.


#6

[quote="Pag_Hingowa, post:5, topic:333265"]
Sorry I beg to disagree these are church people's money we are talking here. This is not a small issue. Big amount of money freely handled by few without those who contributed to it knows what is used for. If it was personally owned by the Pope I don't mind. I am a Catholic myself I give my donation voluntarily out of my belief that it is used to help the poor as you mentioned and other benevolent activities and for support of the church.** What I cannot stand is when the church started to dip their hands in our politics and take sides. **That is definitely not the teaching of Christ to get involved in politics. Much more if they use money to wield influence and impose their will and intentions. Let Caesar give what is due unto Caesar right? Still that is the Priest answerable to God. So shall we keep quiet and let them go on with impunity. I can live with that. After all we have accepted that dogma for thousand of years that priest are men of God. There are RC church leaders that are as bad as anyone else they are the very people who look RC church bad. This is one of their acts. I limit my argument on that scope.

[/quote]

So you disagree with the Church leading campaigns to try to defeat the RH Bill??

Also, surely you cannot be so naive that you think every peso offering should be given immediately to the poor. Money is required to run the Church, train priests, etc. (see underacloud's post).
Our offerings at Mass are not sufficient.


#7

I recommend reading "How the Reformation Happened" by Hillaire Belloc.

Yes, I'm posting in the correct thread. This is the EXACT strategy used by the secular powers in England to conspire to seize the assets of the monasteries, religious orders, convents and church lands in England.

History demonstrates that the Church has used large holdings of resources FAR better and more justly than the private owners who follow. Here's how it happened in England:

  1. Decry the corruption of the clergy.
  2. Decry the accumulated wealth and assets of church organizations and insinuate that it is all used for the indulgence of the clergy.
  3. Foment resentment in the populace to provoke a crisis.
  4. Outside powers seize the wealth of the church affiliated groups in the name of the "greater good."
  5. Said outside powers enrich themselves and the regular populace suffers far greater deprivation than ever before.

This is basic history in England. Prior to the "reformation" the poor were largely cared for by the Church. People rented land from the church at low prices and the hungry and sick were cared for by monasteries. After it, poverty was criminalized and the destitute were impressed into service as sailors, soldiers and shipped off to penal colonies. Rich landowners kicked peasants off the land they had used to grow food and enclosed it all to raise sheep instead. Dickinsonian London ensued.

Don't participate in letting it happen again in the Phillipines.


#8

you have to have money to make money. does that author use a piggybank?


#9

[quote="manualman, post:7, topic:333265"]
I recommend reading "How the Reformation Happened" by Hillaire Belloc.

...
After it, poverty was criminalized and the destitute were impressed into service as sailors, soldiers and shipped off to penal colonies. Rich landowners kicked peasants off the land they had used to grow food and enclosed it all to raise sheep instead. Dickinsonian London ensued.

...

[/quote]

Great post! I would note that the Obama Admin. has essentially criminalized poverty in America. I was homeless years ago, now the FHA has essentially declared that to be
illegal.


#10

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