Property

Detaching from the dead: Manny Villar renaming memorial park firm to his initials

Bilyonaryo Manny Villar is changing the name of his memorial park company for the second time in three years apparently to distance the stock away from business of the dead while expanding to other ventures.

In a November 23 special meeting, Golden Bria Holdings’s board approved the name change to Golden MV Holdings Inc.

The company was originally Golden Haven Memorial Park since it made an initial public offering in 2017.

Golden Bria is making the name change though a written assent solicitation to stockholders as of December 10.

Since making a name change in 2017, the bulk of Golden Bria’s revenues have come from low-cost housing rather than memorial lots.

Villar controls 89 percent of Golden Bria through Fine Properties and Cambridge Group.

Golden Bria’s market cap is pegged at P276.97 billion or nearly five times more than the P59.55 billion paper value of Villar’s holding firm. Vista Land and Lifescapes This is the reason why Villar has zoomed to the top of Forbes’ list of bilyonaryos since Henry Sy passed away in January 2019.

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