Image by webzer via FlickrMANILA, Philippines - EEI Corp., one of the Philippines’ largest construction companies, secured a contract in Qatar.
The company, subsumed under the Yunchengco Group, won a bid for the $12 million Qatargas 3 and 4 Onshore Project for GAMA Qatar Company under the Chiyoda-Technip joint venture, EEI said in its disclosure to the Philippine Stock Exchange (PSE). It is expected to undertake pipe erection work of inlet facilities.
Since construction is expected to begin by January, the company will deploy an estimated 1,500 workers in the next few months.
Currently, more than half of its 18,000 workforce is deployed abroad. An estimated 1,400 are assigned in a New Caledonia nickel mining project while 8,000 are in Saudi Arabia, engaged in various projects under the Al Rushaid Construction Co.
The company’s foreign project order backlogs is estimated at $391 million.
Earnings of EEI reached P363 million for the first nine months, 76 percent higher than profits reported during the same period last year.
Consolidated revenues for the nine-month period hit P5.52 billion, 41 percent higher than last year’s P4.6 billion owing to its overseas business.
Shares of EEI fell P0.02 to P0.72 during Thursday’s trading at the PSE.
12/04/2008 | 06:02 PM
http://www.gmanews.tv/story/137521/EEI-Corp-secures-Qatar-contract
One-stop online source of Philippines Stocks investment analysis and relevant Philippines Stocks news.
Thursday, December 4, 2008
Wednesday, November 5, 2008
Stocks News 2008: Cityland seeks SEC approval to sell P1B in short-term debt
Image via WikipediaMANILA, Philippines - Listed property developer Cityland, Inc. sought regulatory approval Tuesday to sell short-term commercial paper to the public worth P1.15 billion, a bulk of which will be used to pay off maturing debts.
The firm told the Securities and Exchange Commission it planned to use P770 million of the proceeds to settle loans worth P1.03 billion as of June 30.
Of the debts, about 86% are composed of commercial paper issued on Dec. 17. The rest is owed to Amalgamated Bancorporation and Security Bank Corp., the company said.
Cityland said it also intends to use over a quarter of the proceeds to finance its 39-storey mixed-use condominium project called The Manila Residences.
It said it would spend the money on the project over 12 months. The balance will be used to pay for interest on the notes.
Cityland said it would offer almost three-fourths of the commercial debt paper to general public, while the balance would be made available to big investors.
The company said the debt paper would be offered in four equal tranches, the first to start as soon as gets approval from the commission.
Cityland said the notes would mature in a year and would have a rate of 6.88%. It said the proceeds of the sale would not be used to acquire property within the next twelve months.
Cityland also sought an exemption from getting an underwriter for the offer, saying it was capable of selling the debt paper on its own.
The real estate developer said that it would renew the maturing debts to financial institutions if it does not raise the money from the offering.
The company, formerly known as Statehouse Development Corp., acquires and develops land for mixed-use medium- and high-rise buildings in Makati City and Mandaluyong City.
It also sells affordable houses in Pasig City and residential subdivisions and farm lots in Bulacan and Cavite.
Cityland is the developer of the Pasig Royale Mansion, Oxford Mansion, Windsor Mansion and Brentwood Mansion. Launched on Aug. 21, the newest Brentwood Mansion will rise along Evangelista St., New Santolan in Pasig City.
It is a 12-storey commercial and residential building with features and amenities such as a clubhouse and swimming pool, and 24-hour security.
11/05/2008 | 01:14 AM
http://www.gmanews.tv/story/131378/Cityland-seeks-SEC-approval-to-sell-P1B-in-short-term-debt
The firm told the Securities and Exchange Commission it planned to use P770 million of the proceeds to settle loans worth P1.03 billion as of June 30.
Of the debts, about 86% are composed of commercial paper issued on Dec. 17. The rest is owed to Amalgamated Bancorporation and Security Bank Corp., the company said.
Cityland said it also intends to use over a quarter of the proceeds to finance its 39-storey mixed-use condominium project called The Manila Residences.
It said it would spend the money on the project over 12 months. The balance will be used to pay for interest on the notes.
Cityland said it would offer almost three-fourths of the commercial debt paper to general public, while the balance would be made available to big investors.
The company said the debt paper would be offered in four equal tranches, the first to start as soon as gets approval from the commission.
Cityland said the notes would mature in a year and would have a rate of 6.88%. It said the proceeds of the sale would not be used to acquire property within the next twelve months.
Cityland also sought an exemption from getting an underwriter for the offer, saying it was capable of selling the debt paper on its own.
The real estate developer said that it would renew the maturing debts to financial institutions if it does not raise the money from the offering.
The company, formerly known as Statehouse Development Corp., acquires and develops land for mixed-use medium- and high-rise buildings in Makati City and Mandaluyong City.
It also sells affordable houses in Pasig City and residential subdivisions and farm lots in Bulacan and Cavite.
Cityland is the developer of the Pasig Royale Mansion, Oxford Mansion, Windsor Mansion and Brentwood Mansion. Launched on Aug. 21, the newest Brentwood Mansion will rise along Evangelista St., New Santolan in Pasig City.
It is a 12-storey commercial and residential building with features and amenities such as a clubhouse and swimming pool, and 24-hour security.
11/05/2008 | 01:14 AM
http://www.gmanews.tv/story/131378/Cityland-seeks-SEC-approval-to-sell-P1B-in-short-term-debt
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- Short-selling isn't that bad (theglobeandmail.com)
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Sunday, February 17, 2008
Stock News 2008: Robinsons Land to sell P1.5-B receivables
Image by mheisel via FlickrRobinsons Land Corp. (RLC), the property arm of Gokongwei flagship JG Summit Holdings Inc., has entered into an agreement with Home Funding Inc. (HFI) for the sale of up to P1.5 billion worth of receivables.
HFI is a special purpose company formed pursuant to the Securitization Act of 2004.
In a disclosure to the Philippine Stock Exchange, RLC said the receivables, will come from certain contracts to sell with the company’s buyers for securitization.
The agreement effectively provides covered buyers with an additional option for long-term financing on their condominium purchase.
The assignment of receivables will be implemented in several tranches subject to certain conditions, including the approval by the Securities and Exchange Commission of the securitization plan, RLC said.
Securitization is a financial transaction in which assets are pooled and securities representing interests in the pool are issued. Assets that can be securitized include auto loans, student loans, mortgages, credit card receivables, lease payments, accounts receivables and corporate or sovereign debt.
In a typical arrangement, the owner or originator of assets sells those assets to a special purpose vehicle (SPV). This may be a corporation or some form of partnership established specifically to facilitate the securitization. It may hold the assets or collateral on its balance sheet or place them in a separate trust. In either case, it sells bonds to investors, the proceeds of which will be used to pay the originator for the assets.
RLC earlier forged a strategic alliance with JP Morgan Chase Bank NA to tap the cash management services of the New York-listed global financial services company.
According to RLC, the increased efficiency to be brought about by JP Morgan’s cash management services will expedite clearing periods for international checks, resulting in much-quicker turnaround time and convenience for the property firm’s growing number of buyers based in the US, Europe and Asia.
RLC has earmarked P10 billion for its capital expenditures this year which include the construction of six new malls, new office buildings and residential subdivisions.
Its latest project within Bonifacio Global City is Trion Towers, a three-tower, high-rise condominium project which would rise on a one-hectare property at the corner of McKinley Parkway and 8th Avenue. Each tower would have 49 stories and house 700 residential units.
Construction of the project will start this year and is expected to be completed in three years.
RLC would launch another high-rise residential project geared towards the upper income market in a one-hectare lot near Forbes Park.
Zinnia B. Dela Peña
February 17, 2008
HFI is a special purpose company formed pursuant to the Securitization Act of 2004.
In a disclosure to the Philippine Stock Exchange, RLC said the receivables, will come from certain contracts to sell with the company’s buyers for securitization.
The agreement effectively provides covered buyers with an additional option for long-term financing on their condominium purchase.
The assignment of receivables will be implemented in several tranches subject to certain conditions, including the approval by the Securities and Exchange Commission of the securitization plan, RLC said.
Securitization is a financial transaction in which assets are pooled and securities representing interests in the pool are issued. Assets that can be securitized include auto loans, student loans, mortgages, credit card receivables, lease payments, accounts receivables and corporate or sovereign debt.
In a typical arrangement, the owner or originator of assets sells those assets to a special purpose vehicle (SPV). This may be a corporation or some form of partnership established specifically to facilitate the securitization. It may hold the assets or collateral on its balance sheet or place them in a separate trust. In either case, it sells bonds to investors, the proceeds of which will be used to pay the originator for the assets.
RLC earlier forged a strategic alliance with JP Morgan Chase Bank NA to tap the cash management services of the New York-listed global financial services company.
According to RLC, the increased efficiency to be brought about by JP Morgan’s cash management services will expedite clearing periods for international checks, resulting in much-quicker turnaround time and convenience for the property firm’s growing number of buyers based in the US, Europe and Asia.
RLC has earmarked P10 billion for its capital expenditures this year which include the construction of six new malls, new office buildings and residential subdivisions.
Its latest project within Bonifacio Global City is Trion Towers, a three-tower, high-rise condominium project which would rise on a one-hectare property at the corner of McKinley Parkway and 8th Avenue. Each tower would have 49 stories and house 700 residential units.
Construction of the project will start this year and is expected to be completed in three years.
RLC would launch another high-rise residential project geared towards the upper income market in a one-hectare lot near Forbes Park.
Zinnia B. Dela Peña
February 17, 2008
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Monday, February 11, 2008
Stock News 2008: Property firm to launch new condominium project in Bonifacio Global City
Image via WikipediaLISTED PROPERTY developer Robinsons Land Corp. is set to launch its fifth high-rise condominium project in the upscale Bonifacio Global City in Taguig within the next three months.
Mybelle V. Aragon-Gobio, Robinsons Land vice-president for business development, said the company is scheduled to unveil a twin-tower residential project by the second quarter of this year.
Frederick D. Go, Robinsons Land president and chief operating officer, told BusinessWorld in an interview Thursday night that the company envisions a "luxury" project, with units costing a minimum of P5 million each.
"It will be called St. Regis, a name synonymous to luxury and timeless elegance," Mr. Go said.
Last property with a view
He said St. Regis will be located at the vacant 9,118-square-meter lot located along the Millionaire’s row at the corner of McKinley Drive and Fifth Avenue, in Bonifacio Global City.
"It [the property] is seen as the last remaining premier lots that has superior vantage point in the whole Global City complex with a spectacular viewpoint of Manila Golf and Manila Polo Club," Mr. Go said.
Planned as the "lifestyle gateway" to Global City, Robinsons Land said the lot is composed of two mega-block lots — the first measuring 5,747 square meters, and the second block measuring 3,371 square meters.
Mr. Go however declined to say how much has the company allotted for the construction of St. Regis.
Robinsons Land, the real estate development arm of the family of taipan John Gokongwei, currently has three sold-out projects in Bonifacio Global City.
These are the 38-storey Fifth Avenue Place, the 43-storey Mckinley Park Residences and the 43-storey Fort Residences.
Since the projects are already sold-out, Ms. Aragon-Gobio said Robinsons Land has decided to begin preselling its forth project in Fort Bonifacio, the 49-storey The Trion Towers.
Tri-axial
Located in a 9,819-square-meter lot at 8th Avenue and McKinley Parkway, The Trion Towers is the first three-tower residential complex in Fort Bonifacio.
"This new icon of the city skyline boasts of an ingenious tri-axial design which allows all of the units to enjoy privacy, good quality daylight, natural ventilation and multiple views of the city," Ms. Aragon-Gobio said in an interview.
"The groundbreaking design, the buildings’ height, and the triangular formation of the towers all contribute to uniqueness and grandness that The Trion Towers embody, setting it apart from other residential developments," she added.
Ms. Aragon-Gobio said The Trion Towers features 2,146 condominium units with a selection of one-, two-, or three-bedroom units ranging from 37 square meters up to 118 square meters. The minimum unit cost is P3 million.
She said construction of the project is scheduled to be completed by 2011.
"One major design aspect is the introduction of buildings in a triangle formation, where each tower is linked by a bridgeway via a podium-like activity theme park — all buildings will be designed to fittingly embrace the ’central park’, fully maximizing the residential wellness, green-livability and value of the property," she said.
Robinsons Land is the real estate arm of JG Summit Holdings, Inc., one of the country’s largest conglomerates with interests in branded consumers foods, agro-industrial and commodity food products, textile, telecommunications, petrochemicals, air transportation and financial services.
Shares of Robinsons Land were unchanged at P14 each after last Friday’s trading.
Jeffrey O. Valisno
February 11, 2008
http://www.robinsonsoffices.com/jan-mar2008.html
Mybelle V. Aragon-Gobio, Robinsons Land vice-president for business development, said the company is scheduled to unveil a twin-tower residential project by the second quarter of this year.
Frederick D. Go, Robinsons Land president and chief operating officer, told BusinessWorld in an interview Thursday night that the company envisions a "luxury" project, with units costing a minimum of P5 million each.
"It will be called St. Regis, a name synonymous to luxury and timeless elegance," Mr. Go said.
Last property with a view
He said St. Regis will be located at the vacant 9,118-square-meter lot located along the Millionaire’s row at the corner of McKinley Drive and Fifth Avenue, in Bonifacio Global City.
"It [the property] is seen as the last remaining premier lots that has superior vantage point in the whole Global City complex with a spectacular viewpoint of Manila Golf and Manila Polo Club," Mr. Go said.
Planned as the "lifestyle gateway" to Global City, Robinsons Land said the lot is composed of two mega-block lots — the first measuring 5,747 square meters, and the second block measuring 3,371 square meters.
Mr. Go however declined to say how much has the company allotted for the construction of St. Regis.
Robinsons Land, the real estate development arm of the family of taipan John Gokongwei, currently has three sold-out projects in Bonifacio Global City.
These are the 38-storey Fifth Avenue Place, the 43-storey Mckinley Park Residences and the 43-storey Fort Residences.
Since the projects are already sold-out, Ms. Aragon-Gobio said Robinsons Land has decided to begin preselling its forth project in Fort Bonifacio, the 49-storey The Trion Towers.
Tri-axial
Located in a 9,819-square-meter lot at 8th Avenue and McKinley Parkway, The Trion Towers is the first three-tower residential complex in Fort Bonifacio.
"This new icon of the city skyline boasts of an ingenious tri-axial design which allows all of the units to enjoy privacy, good quality daylight, natural ventilation and multiple views of the city," Ms. Aragon-Gobio said in an interview.
"The groundbreaking design, the buildings’ height, and the triangular formation of the towers all contribute to uniqueness and grandness that The Trion Towers embody, setting it apart from other residential developments," she added.
Ms. Aragon-Gobio said The Trion Towers features 2,146 condominium units with a selection of one-, two-, or three-bedroom units ranging from 37 square meters up to 118 square meters. The minimum unit cost is P3 million.
She said construction of the project is scheduled to be completed by 2011.
"One major design aspect is the introduction of buildings in a triangle formation, where each tower is linked by a bridgeway via a podium-like activity theme park — all buildings will be designed to fittingly embrace the ’central park’, fully maximizing the residential wellness, green-livability and value of the property," she said.
Robinsons Land is the real estate arm of JG Summit Holdings, Inc., one of the country’s largest conglomerates with interests in branded consumers foods, agro-industrial and commodity food products, textile, telecommunications, petrochemicals, air transportation and financial services.
Shares of Robinsons Land were unchanged at P14 each after last Friday’s trading.
Jeffrey O. Valisno
February 11, 2008
http://www.robinsonsoffices.com/jan-mar2008.html
Sunday, February 3, 2008
Stock News 2008: Ladylove gets her wish, meets man of her dreams
Image via WikipediaMANILA, Philippines -- If there was one person you would, figuratively speaking, give your life to meet, who would it be?
For 18-year-old Ladylove Torsiende of Cotabato City, it was not a popular heartthrob-movie star but 81-year-old business tycoon John L. Gokongwei.
Last week, the Inquirer made her dream come true.
“Ladylove, what an unusual name,” Gokongwei, one of the richest men in the country, said when she was introduced to him at his penthouse office in Ortigas Center last Jan. 31.
Ladylove, a bright girl who was forced to drop out of high school because of her family’s financial difficulties, was one of 22 Inquirer letter-writers chosen to have their wishes granted during the paper’s 22nd anniversary last December.
Clad in blue jeans and a printed blouse, Ladylove said she “just knew” that the meeting with her idol—which lasted about 30 minutes—would somehow change her life.
Her bet was good.
At the end of the chat, not only did Ladylove receive a gift check from the taipan, she also got a promise from him to pay for her tuition should she pass the entrance exams to her dream school, the Ateneo de Manila University (ADMU), which hosts the John Gokongwei School of Management.
“When you are able to accomplish the test required by Ateneo, then I will help,” Gokongwei said.
Ladylove was ecstatic. She said her dream to meet Gokongwei began when she read about his inspiring rags-to-riches story in the Sunday Inquirer Magazine.
When she learned about the Inquirer contest, Ladylove said she had thought about asking for a bunch of material things. But inexplicably, her instincts told her that she should write about the Chinese-Filipino businessman and wish to meet him.
She said her hunch was so strong that she had anticipated the call from the Inquirer on Jan. 22 telling her she had won. The Inquirer provided a round-trip plane ticket to Ladylove.
Gokongwei, on the other hand, said he was surprised that somebody picked him as a “wish.” His assistants said he laughed out loud and heartily when he heard about it.
34th richest in SEA
Gokongwei is chairman emeritus of JG Summit Holdings Inc., one of the largest conglomerates in the country with interests in retail, manufacturing, real estate, media, aviation and financial services, among others. According to Forbes magazine, he is the 34th wealthiest businessman in Southeast Asia, with assets valued at over $400 million.
Two years ago, Gokongwei made his name in the philanthropy world after he announced, on his 80th birthday, that he would donate half of his personal fortune, estimated at about P20 billion, to the Gokongwei Brothers Foundation, the company’s charity.
Source of inspiration
According to the soft-spoken Ladylove, Gokongwei’s journey from humble beginnings in Cebu province to the top echelon of Philippine business has become her source of inspiration.
She said she always assumed the famous Gokongwei, whose big Robinsons malls are spread all over the Philippines, came from a rich family.
“I was amazed to read his rags-to-riches story. I did not know that he faced many hardships,” Ladylove said, adding that the image of a young Gokongwei riding his bicycle to sell goods in the market struck a chord in her.
“I learned that success was within our reach if we just tried hard,” she added.
Dreaming big
The billionaire and the simple Cotabato lass initially appeared to have nothing in common. But like Gokongwei, Ladylove also lost a parent at a young age and she had to make sacrifices to help her family.
According to the girl, her mother, Florife, died two years ago, leaving her and five other siblings. Her father, Armando, is a retired policeman. The family lives on their father’s modest pension and the remittances of her sister in Dubai.
Four years ago, in her second year in high school, Ladylove’s parents asked her to quit school because they could not afford it anymore. Ladylove said she cried but did not rebel.
She was sad, though, because she was doing well in school. She graduated valedictorian of her elementary school and felt she had a great chance of duplicating the feat in high school. After she stopped going to school, she helped out in her parents’ small sari-sari store.
Gokongwei’s beginnings
Gokongwei’s own story is that when he was 13, his father died leaving him the family’s breadwinner and forcing him to stop school and find work. To make ends meet, Gokongwei said he sold goods at the market using an old bike.
Last year, Ladylove was finally able to return to school. She enrolled for a six-month computer vocational course at the Notre Dame University and is set to take the Department of Education’s high school equivalency test this month.
If she passes the exam, she will be eligible to enroll in a regular college, something that she is determined to do. She said she dreams of entering the corporate world and having her own company to run in the future. And yes, she dreams of enrolling in ADMU’s John Gokongwei School of Management.
When questioned by her idol—“Ateneo is a tough school to get in,” he said—Torsiende simply replied: “I dream big.”
This earned immediate approval from Gokongwei: “Oooh, that’s what I said. It’s good to dream.”
Leadership skills
Ladylove made her pitch: “I think I have great leadership skills.” Just last month, she said, she was one of several students chosen to represent her school at The Young Partners Meeting organized by the Consuelo Foundation in Laguna.
After the meeting, Ladylove confided that Gokongwei, with his booming voice and laughter, intimidated her. “But he was a nice man,” she added.
The taipan gave Ladylove a copy of his biography “John L. Gokongwei Jr.: The Path to Entrepreneurship.” Everything you need to become a success is in it, he told her.
“It’s a lonely road. You just have to do it,” he added.
Then at the end of their chat, he gave his young fan his calling card, saying that if she needs something, she knows where to reach him.
Kristine L. Alave
February 03, 2008
For 18-year-old Ladylove Torsiende of Cotabato City, it was not a popular heartthrob-movie star but 81-year-old business tycoon John L. Gokongwei.
Last week, the Inquirer made her dream come true.
“Ladylove, what an unusual name,” Gokongwei, one of the richest men in the country, said when she was introduced to him at his penthouse office in Ortigas Center last Jan. 31.
Ladylove, a bright girl who was forced to drop out of high school because of her family’s financial difficulties, was one of 22 Inquirer letter-writers chosen to have their wishes granted during the paper’s 22nd anniversary last December.
Clad in blue jeans and a printed blouse, Ladylove said she “just knew” that the meeting with her idol—which lasted about 30 minutes—would somehow change her life.
Her bet was good.
At the end of the chat, not only did Ladylove receive a gift check from the taipan, she also got a promise from him to pay for her tuition should she pass the entrance exams to her dream school, the Ateneo de Manila University (ADMU), which hosts the John Gokongwei School of Management.
“When you are able to accomplish the test required by Ateneo, then I will help,” Gokongwei said.
Ladylove was ecstatic. She said her dream to meet Gokongwei began when she read about his inspiring rags-to-riches story in the Sunday Inquirer Magazine.
When she learned about the Inquirer contest, Ladylove said she had thought about asking for a bunch of material things. But inexplicably, her instincts told her that she should write about the Chinese-Filipino businessman and wish to meet him.
She said her hunch was so strong that she had anticipated the call from the Inquirer on Jan. 22 telling her she had won. The Inquirer provided a round-trip plane ticket to Ladylove.
Gokongwei, on the other hand, said he was surprised that somebody picked him as a “wish.” His assistants said he laughed out loud and heartily when he heard about it.
34th richest in SEA
Gokongwei is chairman emeritus of JG Summit Holdings Inc., one of the largest conglomerates in the country with interests in retail, manufacturing, real estate, media, aviation and financial services, among others. According to Forbes magazine, he is the 34th wealthiest businessman in Southeast Asia, with assets valued at over $400 million.
Two years ago, Gokongwei made his name in the philanthropy world after he announced, on his 80th birthday, that he would donate half of his personal fortune, estimated at about P20 billion, to the Gokongwei Brothers Foundation, the company’s charity.
Source of inspiration
According to the soft-spoken Ladylove, Gokongwei’s journey from humble beginnings in Cebu province to the top echelon of Philippine business has become her source of inspiration.
She said she always assumed the famous Gokongwei, whose big Robinsons malls are spread all over the Philippines, came from a rich family.
“I was amazed to read his rags-to-riches story. I did not know that he faced many hardships,” Ladylove said, adding that the image of a young Gokongwei riding his bicycle to sell goods in the market struck a chord in her.
“I learned that success was within our reach if we just tried hard,” she added.
Dreaming big
The billionaire and the simple Cotabato lass initially appeared to have nothing in common. But like Gokongwei, Ladylove also lost a parent at a young age and she had to make sacrifices to help her family.
According to the girl, her mother, Florife, died two years ago, leaving her and five other siblings. Her father, Armando, is a retired policeman. The family lives on their father’s modest pension and the remittances of her sister in Dubai.
Four years ago, in her second year in high school, Ladylove’s parents asked her to quit school because they could not afford it anymore. Ladylove said she cried but did not rebel.
She was sad, though, because she was doing well in school. She graduated valedictorian of her elementary school and felt she had a great chance of duplicating the feat in high school. After she stopped going to school, she helped out in her parents’ small sari-sari store.
Gokongwei’s beginnings
Gokongwei’s own story is that when he was 13, his father died leaving him the family’s breadwinner and forcing him to stop school and find work. To make ends meet, Gokongwei said he sold goods at the market using an old bike.
Last year, Ladylove was finally able to return to school. She enrolled for a six-month computer vocational course at the Notre Dame University and is set to take the Department of Education’s high school equivalency test this month.
If she passes the exam, she will be eligible to enroll in a regular college, something that she is determined to do. She said she dreams of entering the corporate world and having her own company to run in the future. And yes, she dreams of enrolling in ADMU’s John Gokongwei School of Management.
When questioned by her idol—“Ateneo is a tough school to get in,” he said—Torsiende simply replied: “I dream big.”
This earned immediate approval from Gokongwei: “Oooh, that’s what I said. It’s good to dream.”
Leadership skills
Ladylove made her pitch: “I think I have great leadership skills.” Just last month, she said, she was one of several students chosen to represent her school at The Young Partners Meeting organized by the Consuelo Foundation in Laguna.
After the meeting, Ladylove confided that Gokongwei, with his booming voice and laughter, intimidated her. “But he was a nice man,” she added.
The taipan gave Ladylove a copy of his biography “John L. Gokongwei Jr.: The Path to Entrepreneurship.” Everything you need to become a success is in it, he told her.
“It’s a lonely road. You just have to do it,” he added.
Then at the end of their chat, he gave his young fan his calling card, saying that if she needs something, she knows where to reach him.
Kristine L. Alave
February 03, 2008
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Thursday, January 31, 2008
Stock News 2008: Robinsons Land posts 42% profit hike to P2.44B
Robinsons Land Corp. (RLC), the real estate development arm of Gokongwei flagship JG Summit Holdings Inc., reported a 42-percent jump in net profit for its fiscal year ending September 2007, buoyed by the strong growth in its leasing operations and higher sales from residential projects.
RLC posted a net income of P2.44 billion last year from P1.72 billion in 2006. Revenues likewise grew 29 percent from P6.97 billion to P8.99 billion on record sales and higher recurring income.
“All business units performed remarkably well. Our drive to build our brand and be responsive to market demands made our performance possible. The strategic initiatives and expansion programs we had pursued in recent years continue to bear fruit,” said RLC president and chief operating officer Frederick D. Go in a statement.
RLC’s commercial centers division accounted for 39 percent of total revenues, contributing P3.54 billion or an increase of 7.9 percent from the previous year’s P3.28 billion, mainly coming from anchor malls Robinsons Galleria and Robinsons Place Manila. The improved performance of RLC’s malls in Pioneer in Mandaluyong, Bacolod and Novaliches also boosted sales of the commercial centers division.
Go said the group’s focus on recovering expenses resulted in improved profitability while operating initiatives on improving tenant mix, brand building, and improving mall facilities and amenities continued to attract a growing mix of clientele.
Five of RLC’s malls now house call centers and business process outsourcing (BPO) firms, adding to the wide geographical reach of its shopping centers around the country that made it a choice landlord for BPO companies looking for new areas for expansion, he said.
RLC recently completed The Midtown Wing, an expansion of Robinsons Place Manila and Robinsons Place Otis, a strip mall with a BPO office component adjacent to a prime residential development.
Malls currently under construction are in Bulacan, Dumaguete, Nueva Ecija and Tagaytay.
The high rise residential buildings division, on the other hand, contributed 40 percent to total revenues, posting a 60-percent rise in revenues from P2.27 billion to P3.63 billion.
“Residential condominiums and other upper middle real estate products developed by the division continue to be well received by its target markets. Strong domestic sales and the rapid expansion of its international marketing operations, now in North America, Europe and the Middle East, have boosted pre-selling efforts,” Go said.
The high-rise buildings division has 11 condominium and two office building projects, namely Fifth Avenue Place and McKinley Park Residences in Fort Bonifacio Global City; Gateway Garden Heights and Gateway Garden Ridge in Robinsons Pioneer Complex; Two Adriatico Place, Three Adriatico Place and Otis 888 Residences in Manila; East of Galleria in Ortigas Center; Woodsville Viverde Mansions Building 1, 2 & 3 and office building Robinsons Cybergate Tower 3 and Robinsons Cybergate Plaza.
The office buildings division, meanwhile, registered a 77-percent jump in lease income as all of its projects have been quickly taken up by leading BPO players. It has five office buildings located in Metro Manila’s major central business districts — Galleria Corporate Center, Robinsons Equitable Tower, Robinsons Summit Center and Robinsons Cybergate Center Towers 1 and 2.
Rental revenues amounted to P570.6 million versus the previous year’s P322.9 million, largely due to the opening of Robinsons Cybergate Center Tower 2 as well as increased occupancy rate and generally healthy rental rates in all of its office properties.
The housing and land development division recorded revenues of P715.8 million, up 39 percent from the year ago’s P514.9 million.
Zinnia B. Dela Peña
January 31, 2008
http://www.robinsonsoffices.com/jan-mar2008.html
RLC posted a net income of P2.44 billion last year from P1.72 billion in 2006. Revenues likewise grew 29 percent from P6.97 billion to P8.99 billion on record sales and higher recurring income.
“All business units performed remarkably well. Our drive to build our brand and be responsive to market demands made our performance possible. The strategic initiatives and expansion programs we had pursued in recent years continue to bear fruit,” said RLC president and chief operating officer Frederick D. Go in a statement.
RLC’s commercial centers division accounted for 39 percent of total revenues, contributing P3.54 billion or an increase of 7.9 percent from the previous year’s P3.28 billion, mainly coming from anchor malls Robinsons Galleria and Robinsons Place Manila. The improved performance of RLC’s malls in Pioneer in Mandaluyong, Bacolod and Novaliches also boosted sales of the commercial centers division.
Go said the group’s focus on recovering expenses resulted in improved profitability while operating initiatives on improving tenant mix, brand building, and improving mall facilities and amenities continued to attract a growing mix of clientele.
Five of RLC’s malls now house call centers and business process outsourcing (BPO) firms, adding to the wide geographical reach of its shopping centers around the country that made it a choice landlord for BPO companies looking for new areas for expansion, he said.
RLC recently completed The Midtown Wing, an expansion of Robinsons Place Manila and Robinsons Place Otis, a strip mall with a BPO office component adjacent to a prime residential development.
Malls currently under construction are in Bulacan, Dumaguete, Nueva Ecija and Tagaytay.
The high rise residential buildings division, on the other hand, contributed 40 percent to total revenues, posting a 60-percent rise in revenues from P2.27 billion to P3.63 billion.
“Residential condominiums and other upper middle real estate products developed by the division continue to be well received by its target markets. Strong domestic sales and the rapid expansion of its international marketing operations, now in North America, Europe and the Middle East, have boosted pre-selling efforts,” Go said.
The high-rise buildings division has 11 condominium and two office building projects, namely Fifth Avenue Place and McKinley Park Residences in Fort Bonifacio Global City; Gateway Garden Heights and Gateway Garden Ridge in Robinsons Pioneer Complex; Two Adriatico Place, Three Adriatico Place and Otis 888 Residences in Manila; East of Galleria in Ortigas Center; Woodsville Viverde Mansions Building 1, 2 & 3 and office building Robinsons Cybergate Tower 3 and Robinsons Cybergate Plaza.
The office buildings division, meanwhile, registered a 77-percent jump in lease income as all of its projects have been quickly taken up by leading BPO players. It has five office buildings located in Metro Manila’s major central business districts — Galleria Corporate Center, Robinsons Equitable Tower, Robinsons Summit Center and Robinsons Cybergate Center Towers 1 and 2.
Rental revenues amounted to P570.6 million versus the previous year’s P322.9 million, largely due to the opening of Robinsons Cybergate Center Tower 2 as well as increased occupancy rate and generally healthy rental rates in all of its office properties.
The housing and land development division recorded revenues of P715.8 million, up 39 percent from the year ago’s P514.9 million.
Zinnia B. Dela Peña
January 31, 2008
http://www.robinsonsoffices.com/jan-mar2008.html
Tuesday, January 29, 2008
Stock News 2008: Robinsons Land taps JP Morgan for global cash management services
Robinsons Land Corp. (RLC), the property development arm of Gokongwei flagship JG Summit Holdings Inc., has forged a strategic alliance with JPMorgan Chase Bank NA to strengthen its fund management services for the international market.
In a disclosure to the Philippine Stock Exchange, RLC vice president for operations Kerwin Tan said the company is tapping the cash management services of the New York-listed global financial services company.
“The increased efficiency brought about by JPMorgan’s cash management services will expedite clearing periods for international checks, resulting in much-quicker turnaround time and convenience for Robinsons Land’s growing number of buyers based in the US, Europe and Asia,” he said. No other details were given by the company.
JPMorgan is a leading global financial services firm with assets of $1.6 trillion and operations in more than 50 countries. It is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity.
A component of the Dow Jones Industrial Average, JPMorgan has its corporate headquarters in New York and its US retail financial services and commercial banking headquarters in Chicago. Under its JPMorgan and Chase brands, the firm serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients.
Tan said by partnering with JP Morgan, RLC will be able to leverage on JP Morgan’s economies of scale, global reach and expertise to help grow their global past print and thus deliver greater efficiencies to their businesses and clients.
“The move is a forward looking approach to meet the demands of the international markets,” Tan said. At present, PLC’s recently launched projects have overseas Filipinos workers (OFWs) and balikbayans as primary target buyers.
According to the National Statistics Office, there are approximately eight million OFWS around the world, comprising nearly 10 percent of the Philippine population, and an estimated 4,500 Filipinos leave daily to work abroad.
Zinnia B. Dela Peña
January 29, 2008
http://www.robinsonsoffices.com/jan-mar2008.html
In a disclosure to the Philippine Stock Exchange, RLC vice president for operations Kerwin Tan said the company is tapping the cash management services of the New York-listed global financial services company.
“The increased efficiency brought about by JPMorgan’s cash management services will expedite clearing periods for international checks, resulting in much-quicker turnaround time and convenience for Robinsons Land’s growing number of buyers based in the US, Europe and Asia,” he said. No other details were given by the company.
JPMorgan is a leading global financial services firm with assets of $1.6 trillion and operations in more than 50 countries. It is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity.
A component of the Dow Jones Industrial Average, JPMorgan has its corporate headquarters in New York and its US retail financial services and commercial banking headquarters in Chicago. Under its JPMorgan and Chase brands, the firm serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients.
Tan said by partnering with JP Morgan, RLC will be able to leverage on JP Morgan’s economies of scale, global reach and expertise to help grow their global past print and thus deliver greater efficiencies to their businesses and clients.
“The move is a forward looking approach to meet the demands of the international markets,” Tan said. At present, PLC’s recently launched projects have overseas Filipinos workers (OFWs) and balikbayans as primary target buyers.
According to the National Statistics Office, there are approximately eight million OFWS around the world, comprising nearly 10 percent of the Philippine population, and an estimated 4,500 Filipinos leave daily to work abroad.
Zinnia B. Dela Peña
January 29, 2008
http://www.robinsonsoffices.com/jan-mar2008.html
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