The Bacolod City government collected P177.8 million in business taxes in 2005, surpassing by P2.2 million its 2004 figures of only P175.5 million, records of the Office of the City Treasurer show.

In January last year, it posted a total collection of P60.406 million; February, P16.456 million; March, P6.618 million; April, P21.727 million; May, P4.838 million; June, P4.838 million; July, P21.568 million; August, P5.641 million; September, P5.848; October, P20.761 million; November, P3.753 million; and December, P4.792 million.

Records further show that revenues in 2001 totalled P130.201 million; 2002, P144.582 million; and 2003, P156.157 million. '

PLDT converts all preferred
stock into common shares

Philippine Long Distance Telephone Company said in a press release that all its outstanding Series III Convertible Preferred Stock, represented by Global Depositary Shares and evidenced by Global Depositary Receipts, have been converted into shares of Common Stock on Dec. 19.

It said that as a result of the mandatory conversion of the Series III Preferred Stock, PLDT issued a total of approximately 7.9 million shares of Common Stock increasing the total number of the company's common shares outstanding to 180.7 million.

Its market capitalization as of the end of 2005 stood at P331.6 billion, the press release said.

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