4%) than the previous two years 12

03 十 4%) than the previous two years 12

Gonzalez. Solicitor General Estelito P. Mendoza, Solicitor Vicente V. Management’s compensation (always seems to be a point of contention for investors). We can see that both administrative and R expenses have increased significantly over the past year while administrative costs have contributed a larger percentage of the overall net loss (29.4%) than the previous two years 12.2 and 28.8% for 2014 and 2015 respectively. This trend appears to be improving though, with extrapolated annual expenses based on 1H ranging between $131 180 million for R and $45.6 52 million for administrative expenses (26 22.4% for the respective values).

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