BDC group posts P63m loss as COVID-19 hits subsidiaries

In results unveiled recently, the group said the weaker performance was due to its subsidiaries’ exposure to sectors hard hit by the pandemic. BDC, a government investment agency charged with economic diversification, has subsidiaries in manufacturing/industry, property development, agriculture and services.

For the year to June 2021, most of the BDC group’s major incomes lines, such as interest, dividends, rentals and share of profits from subsidiaries, were down compared to the previous year.