Malacañang’s rants send Ayala Land shares falling by 7%

JITTERY. Investors dump Ayala shares as the Duterte administration reviews its contracts. Photo from WikiCommons

MANILA, Philippines – Blue chip Ayala Land fell by 7% to P40.50 on Monday, January 20, amid news that the Duterte administration may probe its lease contract for theWhile the share price is not a historical low for Ayala Land, the 7% drop is one of the steepest declines the stock has experienced in almost 5 years.

In a DZIQ interview on Sunday, January 19, Presidential Spokesperson Salvador Panelo said that he read an online article alleging that the Ayalas are renting the 37-hectare orThe article claimed that the rental of the land costs only P22 per sqm a month. Ayala Land has since said that it is paying P171 per sqm monthly.Panelo's pronouncement adds to the potential legal battles for the Ayala group.

Sayang wala pa sweldo ngaun hakhak. Walang pang pambili 😄

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