D.M. Wenceslao and Associates Inc. has allocated P100 million as emergency contingency funds for its employees and tenants during the coronavirus disease 2019 (Covid-19) pandemic.
In a statement, D.M. Wenceslao Chairman Delfin Wenceslao said these funds would be used to ensure the continued payment of wages and leave conversions, and extension of financial assistance to employees.
“To commence this support and to alleviate the concern of our people, we are announcing that salaries for the next two successive periods shall be disbursed in advance, effective immediately,” he added.
Wenceslao also said his company had allotted funds to assist communities bordering its projects.
The listed property company would grant rent concessions for qualified tenants affected by the Luzon-wide enhanced community quarantine.
The island has been on lockdown since March 17 to contain the spread of the coronavirus disease 2019, which has infected
“As we have always stated, the DM Wenceslao Group always views any relationship with our stakeholders, both internal and external, as long-term partnerships,” Wenceslao said.
“We shall continue to have a positive and lasting impact in our communities, wherever and whenever our company is present and needed,” he added.
D.M. Wenceslao shares increased by 15 centavos or 2.22 percent to close at P6.90 each on Wednesday.