ETON Properties Philippines Inc. (EPPI), a member of the Lucio Tan Group, reported a loss of P146.7 million at the end of 2007.

It has yet to realize revenues since it converted from a mining firm into a real-estate company early last year.

In a report to the stock exchange Tuesday, Eton Properties, formerly Balabac Resource and Holdings Co., said since it applies the percentage-of-completion scheme, revenue will only be realized if there has been progress on construction and the stage of completion can be reasonably estimated.

“At present, having launched six projects in its first year of existence, the company has yet to realize its revenue. It will start realizing revenues from sale of the units beginning 2008 with several of its projects scheduled for construction during the year,” it said.

When it was still known as Balabac, the company’s fiscal year closed at the end of April. It shifted to calendar year as Eton Properties.               

Meanwhile, the company said its assets grew to P980 million as of December 31, 2007. Growth was due to the brisk takeup of its projects—The Eton Residences in Greenbelt and Eton in Baypark Manila—which have been fully reserved from launch date.

It also registered an increase in customer deposits by P701.57 million through record reservations of its four other projects launched last year.

Located in  strategic areas are landmark projects Eton Emerald Lofts in Ortigas, Belton Place and Eton Parkview Greenbelt in Makati and One Archers Place in Manila.

The company specializes in high-end and mid-income luxury residences, state-of-the-art information- technology and business-process outsourcing office developments, as well as township projects, while drawing inspiration from the track record of counterpart Eton Properties Ltd. in Hong Kong and mainland China.

JG Summit Holdings Inc. said Tuesday its net income in 2007 rose 32.3 percent to P8.6 billion from P6.5 billion a year earlier as its food and airline businesses delivered strong results.

PAL gets into low-fare business

PHILIPPINE Airlines (PAL) is creating a budget airline unit called PAL Express to serve a niche market distinct from its core business.

DATA-storage management and security specialist EMC Corp. is eyeing expansion both in market terms and product and service offerings.

MORE than 100 of Hawaii’s who’s who flew in Tuesday aboard Hawaiian Airlines’ inaugural flight, turning a new chapter in its 79-year legacy of service between Honolulu and Manila.

ETON Properties Philippines Inc. (EPPI), a member of the Lucio Tan Group, reported a loss of P146.7 million at the end of 2007.

When do we consider a company to be involved in or dealing with an investment contract that is considered as a security and, thus, is required to be duly registered with the Securities and Exchange Commission (SEC) prior to the sale or offer for sale or distribution of the same to the public?