Stock Commentary

Filinvest Land is not a subsidiary of GT Capital

Merkado Barkada
Filinvest Land is not a subsidiary of GT Capital

I incorrectly referred to Filinvest Land [FLI] as a subsidiary of GT Capital [GTCAP] in my Friday write-up [link] about GTCAP’s potential interest in launching a REIT from its unlisted subsidiary, Federal Land Inc. FLI is a subsidiary of the Filinvest Development Corporation [FDC] of the Gotianun Family.

MB BOTTOM-LINE: I don’t always get the chance to write at my laptop, so sometimes I’m writing from my phone while waiting in a building or stuck in traffic. When I do that, I sometimes refer to the companies in the story in shorthand by using their ticker symbols (GTCAP, etc) to limit the amount of fighting that I need to do with autocorrect. That’s what I did when writing this story, so I referred to GTCAP and then to its subsidiary, Federal Land Inc., as “FLI” – just as GTCAP referred to it in the disclosure that I was covering. A few hours later when I got home I went to complete the write-up by running my script which automatically converts references to ticker symbols into stock quotes (for example, it converts “GTCAP” into “GT Capital [GTCAP  554.00 ?2.5%]”). The tool converted “FLI”, a shorthand for Federal Land Inc., into a stock quote for FLI, the Gotianun Family’s real estate developer. Credit to Jewel for catching this error before the newsletter went out, but her alert to me was left unread as I stupidly wandered around looking to buy an iced coffee with my phone in my pocket. By the time I saw her note it was already too late, and I had several other notes from eagle-eyed readers alerting me to the same problem. Thank you all for reading MB so closely! Apologies for the mixup.

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