LISTED investment holding company Mabuhay Holdings Corp. posted a net loss of P12.74 million in the first half of 2026, reversing from the P9.84-million profit recorded in the same period last year, as lower investment-related gains and higher operating expenses weighed on earnings.
In a quarterly report, the company said consolidated revenues and other income fell to P3.04 million in the January-to-June period from P22.08 million a year earlier after unrealized gains from the revaluation of financial assets declined sharply.
Rental income also slipped to P2.34 million from P2.87 million, while the company no longer recognized management and service fees after the management of a subdivision project was turned over to its homeowners’ association at the end of 2025.
Operating expenses increased to P17.59 million from P14.74 million, mainly due to higher miscellaneous costs, resulting in a pre-tax loss of P14.55 million versus a P7.34-million profit a year earlier.
For the second quarter alone, Mabuhay incurred a net loss attributable to shareholders of P8.12 million, reversing a P30.82-million profit recorded in the same period in 2025.
As of June 30, the company’s total assets stood at P894.33 million, up from P865.30 million at the end of 2025, while total liabilities rose to P487.52 million from P443.89 million, partly due to higher borrowings used to fund its property development activities.
Real estate inventories more than doubled to P122.88 million as the company continued developing its affordable housing project in Barangay Bolbok, Lipa City, Batangas through subsidiary T&M Land Inc.
The project began land development and house construction this year after the subsidiary changed its primary purpose from a holding company to a real estate developer.
The company said it planned to continue acquiring and developing properties for lease and affordable housing projects while maintaining investments in listed stocks and investment properties for long-term appreciation.
Management said it expects cash flows to remain sufficient to meet working capital requirements over the next 12 months.
Mabuhay Holdings shares last closed at P0.106 on July 13.
