My dear fellow shareholders,
I am honored to pen my first letter as President and CEO of our company, Premiere Horizon Alliance Corporation (“PHA”).
I intend this letter to be a document that we can all look back to and use as a reference for how we plan to run PHA for the long run.
My goals for the company are perfectly aligned with yours. I am like each of you a shareholder of PHA. I have taken on the position of CEO with a realization that change must be made. That change is not only with my taking on the role of CEO but with building a team that will be good managers of our company, good stewards of our resources and good creators of value. I am confident that we are building this team that will make PHA realize the potential that each of you saw when you purchased the shares.
Great things in business are never done by one person; they’re done by a team of people. I am grateful for a newly constituted set of board members that will work with incumbents as well as lead your company to embark on more initiatives. Our Chairman Manny Herbosa brings a rich and distinguished career and body of work that I am confident will reignite our board and lead us on a very strong path to turning PHA into a top tier and respected public company. Steve Pena Sy brings his experience in running public companies in the Philippines as well as all over Asia to greatly strengthen our board. Marian Pena brings years of experience in finance and real estate knowhow to our company. Ernest Yeung will help us build a finance and accounting function in PHA that will draw on his experiences working in global money centers and for global players. Gerry Halili and Arvin Cruz both will lend us their counsel as top notch lawyers to make sure that PHA will embark on and become a player on ESG initiatives. Lastly, incumbents Lee Anonas and Brandon Leong will work with me on making the changes that will transform our company.
With our new team, I look to begin our company’s transformation. Here are the key tasks ahead:
- Improve our financial position. First, we need to put PHA on firmer financial footing. The capital raise has helped us put our balance sheet in a healthier place. We will look forward to improving our funding capabilities so that we’ll be in a better position to improve across all our businesses and take advantage of opportunities that will enhance profitability and shareholder value.
Strengthen our businesses. Our current businesses all need to be run to create for our customers as well as to contribute positively to the top line and bottom line financials of our company. I do not intend to sacrifice one metric for the other. We will look to making each leg of our company, real estate, mining and tourism profitable.
- Infuse the company with new ideas and talent. We look to augment and strengthen management and governance across our subsidiaries and at PHA itself. This has begun but we will continue to look for people and ideas that will help our company. Beyond our current real estate, mining and tourism businesses, we will also look for related businesses that will add to our core.
- Improve our governance and investor relations. We look to becoming a public company that will rank among the best in governance and investor relations. You all can count on your board and your management to become more transparent and have in place the organization that will ensure that shareholder interests are first and foremost.
I am optimistic for our company’s future. As the Philippines and the world emerge from difficulties imposed by the covid pandemic, we see economic recovery continuing in 2023 through 2024. We are confident that our three pillars of real estate, tourism and mining will benefit from the economic recovery and we look for opportunities to expand our company’s product offerings.
I’d like to extend my heartfelt appreciation to PHA’s employees, customers, partners and Board for their contributions to the company and I ask each of them to heighten the commitment and passion to advance this company forward. The road ahead is not going to be easy, change can be painful, but if each of us embrace our roles, our responsibilities to each other and execute the plan we’ve laid out to create value for our people, for our customers, and for you, we will look forward to a brighter future for your company. Let me tell each of you, I know it’s more about what we do than what we say so let us start the process. Thank you, each and everyone, for giving me the opportunity to earn your confidence and trust.
Eugene T. Tan
President / CEO
Premiere Horizon Alliance