Roxas and Company ‘finalizing’ plans to monetize vast landbank of farmland

Roxas and Company [RCI 1.04, up 18.2%] [link] clarified a report by BIlyonaryo that it could use some of its massive agricultural landbank in a tie-up with Manny Pangilinan’s SP New Energy [SPNEC 1.08 unch]. The company said that it is “drafting and finalizing” plans to “maximize value” of the land it owns and that these plans “will include residential, commercial, industrial, and tourism projects.”

MB bottom-line: The good news for speculators: RCI didn’t outright deny that they’re considering the conversion of some land for use as solar farms, or that they’re specifically thinking of SPNEC as a potential partner to pursue that angle. The bad news: it sounds an awful lot like the same “yeah sure maybe a little bit of everything” approach that shareholders of AbaCore [ABA 1.24 unch] have been putting up with for years. RCI could do incredible things with this land, or it could just make a lifestyle business out of slowly monetizing small chunks while trading off the potential value of the whole. Let’s see how quickly they act. 

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