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Friday, December 17, 2010

Stock News 2010: SMC completes acquisition of 68% of Petron

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MANILA, Philippines – Diversifying giant San Miguel Corporation now controls 68 percent of oil refiner Petron Corporation after it exercised the option to acquire 60 percent of the outstanding shares of Sea Refinery Corporation.

SMC said in a disclosure to the Philippine Stock Exchange said the December 15, 2010 acquisition, equivalent to 24 million Petron shares is in line with the Option Agreement dated December 24, 2008.

The conglomerate plans to raise its stake in Petron to as much as 90 percent if given an opportunity by the Ashmore Group which still holds a block of the oil firm’s shares.

“We will want to buy more and maybe we can buy up to 90 percent,” said SMC president Ramon S. Ang in an earlier interview.

http://www.mb.com.ph/articles/293289/smc-completes-acquisition-68-petron


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Wednesday, December 15, 2010

International News 2010: Siemens selects initial projects for $100-M Integrity Initiative

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Siemens AG recently announced the first anti-corruption projects that will receive financing from the $100-million integrity initiative to promote clean markets. This initiative is part of the World Bank-Siemens AG comprehensive settlement that was agreed on July 2, 2009. An initial tranche of $40 million will now be distributed to more than 30 initiatives from over 20 countries that have been selected. Around 300 non-profit organizations from 66 countries had applied for funding during the first round.

“Siemens stands for top performance with the highest ethical standards,” said Peter Y. Solmssen, Member of the Managing Board and General Counsel of Siemens AG. “Together with the World Bank Group, we want to promote integrity and fair competition worldwide. With the selection of the projects for the Siemens Integrity Initiative, we have taken the first important step in this direction.”

“We welcome the company’s initiative and clear commitment to the principle that only clean business is good, sustainable business“, said Leonard McCarthy, Integrity Vice President of the World Bank Group. “Corruption steals from the poor, and it can only be tackled on a joint basis. The projects of the Siemens Integrity Initiative will help strengthen the will to combat corruption worldwide and improve conditions for everyone.”

Projects that will be supported by this initial tranche include a clarion call for collective action from two Philippine-based organizations - the Makati Business Club (MBC) and the European Chamber of Commerce in the Philippines (ECCP). Dubbed “Project: SHINE”, which is an abbreviation for Strengthening High-level commitment for Integrity Initiatives and Nurturing collective action of Enterprises advocating for fair market conditions, the joint undertaking aims to increase transparency and integrity in business transactions to create a more sustainable business environment in support of national development.

Project: SHINE’s key objectives include the standardization of business practices and codes of conducts, and the creation of integrity pacts among participating companies. This is in addition to fostering constant dialogue among various stakeholders to ensure a common understanding on the challenges and solutions in the fight against corruption, and strengthen their commitment to good corporate governance.

http://www.mb.com.ph/node/292898/


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Stock News 2010: Visa payments volume in Asia Pacific grows 12% to $800 billion

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MANILA, Philippines – Visa Inc. reported increased card spending throughout the Asia Pacific region.

For the 12 months ended September 30, 2010, payments volume generated on all Visa cards across Asia Pacific reached US$800 billion, an increase of 12.0 percent over the same period last year.

Significantly, the total number of actual payments transactions increased to 10.2 billion, up 11.4 percent from 12 months ago. This increase highlights the continued trend by consumers to use electronic forms of payments rather than cash and checks throughout the region.

Overall, across the Asia Pacific region, both Visa debit and credit products recorded strong growth throughout the year; payments volume for debit increased by 42.9 percent while credit increased by 9.7 percent.

The number of Visa debit cards increased by 15 percent for the year ending September, 2010. This growth figure is a key indicator that more and more people are joining the formal banking system, a sign in turn of improved financial inclusion in developing economies.

http://www.mb.com.ph/node/293099/vi


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Stock News 2010: FLI ramps up Cebu project

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MANILA, Philippines – Filinvest Land, Inc. (FLI), the property development arm of the Gotianun family, is ramping up its projects in Cebu.

The firm said it recently broke ground on the first of its mid-rise building (MRB) projects within Citta de Mare, in the South Road Properties, Cebu.

Amalfi Oasis is one of the mid-rise building communities FLI is developing within the 50.5-hectare Citta de Mare, under a joint venture with the Cebu City Government.

FLI held ground breaking ceremonies last November 13 for Amalfi Oasis’ first of 10 to 12 buildings. The first tower will have 150 units and should be ready for turnover to buyers by the end of 2011.

By February, 2011, FLI targets to break ground on its second project in Citta de Mare, San Remo Oasis. It will have a total of eight buildings, with the first having 130 units.

http://www.mb.com.ph/node/292896/fli-ramp


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Tuesday, December 14, 2010

Stock News 2010: PLDT reinvents its landline bundle offering

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MANILA, Philippines – The Philippine Long Distance Telephone Co. (PLDT) transforms the face, feel and future of the wireline business via a new offering that bundles a landline with a touch’ screen tablet and a high speed myDSL under a single service plan.

The PLDT TelPad unit includes a special handset that also serves as a charging dock for a 7-inch screen tablet computer. Subscribers can use the handset or the portable tablet computer to make and receive phone calls and access over a hundred thousand online applications on top of the unlimited broadband access of the bundled service.

“The PLDT TelPad was conceptualized and developed here in the Philippines using world-class technology,” PLDT President and CEO Napoleon L. Nazareno pointed out. “And we are starting to bring it to the market now to reshape the future of the landline.”

http://www.mb.com.ph/node/292687/pldt-reinvent


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Stock News 2010: Double-digit investment growth seen in 2011

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MANILA, Philippines – As investments now reaching over P457 billion and expected to exceed the 2010 growth targets, Trade and Industry Secretary Gregory L. Domingo sees double-digit growth in investments next year with infrastructure projects and the government’s six big winners as growth drivers.

Domingo said this as new investments registered with the Board of Investments (BoI) and the Philippine Economic Zone Authority (PEZA), the country’s premier investment generating agencies, are expected to exceed targets this year.

As of December 13, BoI-registered investments, as measured by project cost, already reached P257 billion while PEZA investments are expected to exceed its P200 billion target for the year as of December .

“We are going to exceed our 15-10-10 growth targets for the year,” said PEZA Director-General Lilia B. De Lima told reporters, but did not divulge the latest investments figure.

PEZA is eyeing for a 15 percent growth in investments and 10 percent growth each for exports and employment.

In addition, BoI executive director Lucita P. Reyes said the agency has approved a total of P257 billion as of its last meeting.

“We only need one big project to exceed our last year’s total investments of P287 billion,” Reyes said.

“We are more bullish next year on investments,” Domingo told reporters at the sidelines of the recently concluded Philippine Retailers Association’s 2010 Awardees for Best Retailers and Shopping Centers.

“We expect double-digit growth next year,” Domingo said.

http://www.mb.com.ph/node/292685/doubledigit-inve


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Monday, December 13, 2010

Stock News 2010: Green Makes Good Business

The waste hierarchy refers to the "3 Rs&q...Image via Wikipedia
Advocating green living is no doubt the cause of the times. Recognizing their responsibility to the environment, more organizations and individuals are doing their part to address climate change and promote sustainable living.

Taking these efforts beyond the usual is Unilever Philippines, which not only joins public campaigns but also invests in making its own business operations eco-friendlier. “We want to make sure that we’ll be able to grow our business without raising the impact of our operations on the environment,” shares Chito Macapagal, Vice President for Corporate Affairs of Unilever Philippines. “Sustainability is the key here and by implementing such practices now, we achieve a two-fold mission—growing our business by bringing vitality to the lives of individuals and to the community.”

Greener Operations

One notable effort is the company’s wastewater treatment facility in its manufacturing plant in Paco, Manila, which has been in place since 1994. Wastewater from plant operations go through several processes—including a bath of germ-killing natural bacteria—to make sure that no toxic residue reaches the nearby 25-kilometer waterway which ultimately flows into the Pasig River. The whole system is so effective that the treated water also becomes the habitat of the company’s koi fishes.

Unilever Philippines has also heavily invested in solid waste management. In 2003, it began Project Eliminate to minimize the need for an on-site landfill. Through conversion and recycling programs, the company completely cleared the dumpsite within two years and now Businessuses the extra space as a parking lot. Recently, the company won the Grandmaster award at the country’s first Zero Basura Olympics for another one of its solid waste management initiatives. The project makes use of “green” technology to convert waste sachets and other plastic packaging materials into powder material used in making bricks and pavers that are then donated to Gawad Kalinga to help build homes. Mothers from a select community also get livelihood from the program by creating bags, aprons and other items from the more presentable-looking waste packaging.

http://www.mb.com.ph/node/292505/green-make


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Sunday, December 12, 2010

Stock News 2010: Eton Properties sees profits to reach P1-B mark in 2011

One San Miguel Avenue office skyscraper in Ort...Image via Wikipedia
MANILA, Philippines – Eton Properties Philippines Inc. expects earnings to jump 43 percent to hit the P1-billion mark next year from its target of P700 million in 2010 as it continues to reap rewards from the boom in the residential sector.

The company is slated to deliver over 3,600 residential units in 2011 encompassing units in The Eton Residences Greenbelt, Eton Parkview Greenbelt and Belton Place, all in Makati, as well as Manila projects, Eton Baypark Manila, and tower 2 of One Archers Place in Taft Avenue, said Eton president Danilo Ignacio in a press briefing.

Eton Emerald Lofts in Ortigas Center, Pasig, the island lots in South Lake Village and lots in Riverbend, both in Eton City in Sta. Rosa, Laguna, and additional clusters of The Manors of subsidiary Belton Communities' North Belton Communities project, are also slated for turnover.

Also seen to contribute to the firm’s earnings next year is the income stream from the company's initial office and commercial projects.

http://www.mb.com.ph/node/292412/eton-propertie


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Saturday, December 11, 2010

Stock News 2010: Eastern Petroleum logs 500% rise in sales with closed pipeline

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MANILA, Philippines – Trailing the feat of most oil companies unaffected by the Batangas-Manila pipeline closure, Eastern Petroleum Corporation reported that its sales have grown 500-percent month-on-month because of volume shift to other industry players.

In an interview with reporters, Eastern Petroleum chairman Fernando L. Martinez likewise noted the company’s sales revenues reached a record P3.2 billion to-date, which he described to have risen exponentially from last year.

The build-up in the oil firm’s inventory, he stressed, has been part of their “response to government call” following the supply delivery constraints experienced by Pilipinas Shell Petroleum Corporation and Chevron Philippines Inc.

“Eastern will continue to import huge quantities enough to fill up the gap to avoid any supply disruption for Luzon,” he said.

For the month of December alone, Martinez said they already cornered 37 million liters of diesel from a Japan shipment; and two gasoline product shipments from Singapore.

“The combined cargoes of more than 50 million liters are for distribution to Eastern Petroleum network of gasoline stations and to supply other oil retailers and distributors experiencing tight supply,” he added.

http://www.mb.com.ph/node/292165/ea


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Stock News 2010: Eton's First Homes unit launches second condo project in Makati City

Centro Escolar University's campus in Makati CityImage via Wikipedia
MANILA, Philippines — First Homes, Inc., the affordable condominium subsidiary of Eton Properties Philippines Inc., has launched a new project in Makati City after being encouraged by the strong sales take up of its Aurora Heights Residences in Quezon City.

First Homes Makati is a 34-storey residential condominium situated at the corner of Chino Roces Avenue (formerly Pasong Tamo) and Malugay Streets, just a few steps away from Ayala Avenue.

“We are helping first time home buyers, hardworking employees and young couples achieve their dreams of owning a home through First Homes,” said Eton president Danilo Ignacio.

Located near the Makati Central Business District, major shopping complexes such as Glorietta, The Landmark and SM Department Stores are all within easy reach. Schools such as the Centro Escolar University, Mapua Institute of Technology and the Far Eastern University are also nearby.

Aimed at first time homebuyers, young employees, working students and newly-wed couples, the project features fully-furnished and move-in ready 2-bedroom and 3-bedroom residential units.

Amortization starts at an affordable P10,000 a month for the 2-bedroom unit and P17,000 a month for the 3-bedroom unit.

“Investors looking to rent out condo units will likewise enjoy rewarding leasing opportunities,” said Ignacio.

http://www.mb.com.ph/node/292224/eton


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Stock News 2010: First local bond swap generates brisk demand, may top P144.5-billion mark

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MANILA, Philippines — The first local bond exchange of the Aquino administration may beat January last year's level of P144.5 billion, the Bureau of Treasury announced on Saturday.

The government's domestic bond swap program has attracted holders of more than P140 billion of 2011 and 2034 treasury bonds that are eligible to be exchanged for new 2020 and 2035 benchmark bonds, National Treasury Roberto Tan said.

"Great appetite," said Tan describing the domestic bond swap that ended Friday. The amount of bonds offered for exchange is "over P100 billion for 25 years and over P40 billion for 10 years," he added.

The government has targeted a minimum issue size of P30 billion each for the 10-year and 25-year benchmark bond. A minimum coupon of 5.875% was set for the 10-year bond, and 8.125% for the 25-year bond. Both are offered at par.

On Friday, the treasury bureau ended the offer period for the bond exchange.

The government has set the minimum coupon rates for at least P60 billion worth of new 10- and 25-year bonds offered in exchange for older notes at 5.875 percent and 8.125 percent per year, respectively.

Both securities to be priced at par.

http://www.mb.com.ph/node/292233/fir


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Thursday, December 9, 2010

Stock News 2010: PH may issue global peso bonds early 2011

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MANILA, Philippines – The Philippine government may take advantage of lower interest rates environment and issue peso dominated bonds as early 2011, the Department of Finance (DoF) announced yesterday.

Finance Undersecretary Rosalia V. De Leon said in a mobile message to reporters that the national government is considering another round of global peso bonds next year after a maiden issue this year.

Global peso is an option but we are still evaluating options how we'll refinance maturities,” De Leon said.

Last September, the government raised an equivalent of $1 billion from 2021 global peso bonds sale.

The peso-denominated bonds, which were settled offshore in US dollars, were priced at 99.607 percent, with a coupon of 4.95 percent.

Separately, National Treasurer Roberto B. Tan said yesterday the government will also consider selling peso global bonds due longer than 10-years next year.

“If and when we will issue, our preference is global peso,” Tan said.

http://www.mb.com.ph/node/291769/ph-may-i


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Stock News 2010: Skycable reports 48% hike in new clients

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MANILA, PhilippinesSkycable Corporation, the country’s top pay television provider, posted a 48 percent growth in new sales (new connects) versus last year’s and expects to sustain its subscriber growth in 2011 with more innovations, such as Personal Video Recorder (PVR) services in the first quarter, on top of fully customized subscription packages, Rodrigo P. Montinola, Corporate Head of Marketing told reporters.

“By giving our consumers the digital power to choose, we will maintain our position as the country’s top digital content provider,” he noted. The company offers flexibility and customization of cable television (CATV) content via its Skycable Select. The service powers DigiBox – the digital set up box which allows users to choose the channels they want to add to their basic CATV package.

http://www.mb.com.ph/node/291955/


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Tuesday, December 7, 2010

Stock News 2010: Phoenix Petroleum slates P1.5-B expansion

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Publicly-listed Phoenix Petroleum Philippines Inc. has earmarked P1.5 billion capital expenditures (capex) for next year, mainly to bankroll its expansion projects.

It was gathered from company officials that this will fund the company’s pipelined retail portfolio expansion and the construction of additional depots in Bacolod and Cagayan de Oro.

The company said it will concentrate shoring up its handling facilities in Visayas and Mindanao; while Luzon may yet be at standstill because its Calaca depot’s capacity at 50 million liters can already be classified “immense” and will be enough to supply its expanding market in Luzon.

As far as the targeted number of stations in Luzon is concerned, the company has not given any specific number but it indicated that expansions will be done in various parts of the country.

In a disclosure to the Philippine Stock Exchange (PSE), the oil firm said this (capex) will be allotted for the “expansion of the company’s operations such as but not limited to retail network and depot facilities as well as supply operations.”

http://www.mb.com.ph/node/291341/phoenix-petroleum-


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Stock News 2010: Inflation rate picks up pace in Nov. at 3%

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MANILA, Philippines – Inflation in the Philippines picked up pace in November, exceeding both central bank and market expectations due to the higher cost of home repairs, fuel and energy and services.

Even so, Bangko Sentral ng Pilipinas Governor Amando Tetangco said the surprise increase in the consumer price index won't alter the central bank's current accommodative monetary stance, at least until the end of the year.

The National Statistics Office Tuesday said the CPI, the country's main inflation barometer, rose by 3.0% in November from the year-earlier level, faster than the central bank's forecast of between 2.0% and 2.9% and the 2.5% median forecast of 10 economists in a Dow Jones Newswires poll.

The November CPI was up 0.8% from October, when the index declined 0.2% from September.

Inflation averaged 3.8% in the 11 months to November, still at the lower end of the central bank's target of between 3.5% and 5.5% for this year.

Core inflation, which excludes volatile food and energy items, stood at 3.5% on year in November, up from 3.3% in October.

"Our current assessments still show that inflation would remain manageable during the policy horizon and that inflation expectations continue to be well-anchored," Tetangco told reporters in a text message.

http://www.mb.com.ph/node/291530/inflation-rate-pick


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Sunday, December 5, 2010

Stock News 2010: Bayan Business 'Arrives' at Fort Bonifacio Global City

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Bayan Business, the corporate and business solutions arm of Bayan Telecommunications Inc., recently held a promotional event to showcase its wide array of services and solution offerings that are available for business enterprises at the thriving Fort Bonifacio Global City in Taguig.

Bayan in cooperation with inContact, presented at the launch the different product and services that prospective customers located in the area can subscribe to and avail of in order to sustain and help grow their businesses.

Representatives from 25 companies attended the product presentation last November 11 held at Murray’s New Orleans. Among those present were executives from B&M Global Services Manila, Dev’t Finance International, Inc., Cormant Technologies, Ericsson, Digital Media Exchange, Fujitsu, FPD Asia, Sony Phils., Inc., GN Solutions, Wrigley Philippines, Deutsche Knowledge Services, Jones Lang LaSalle and the Call Center Association of the Philippines (CCAP).

The program, which started off with a hearty lunch, was followed by a presentation on Bayan Business’ data transport, IP and managed service offerings.

Jon Arayata, Bayan Business Head, said Bayan is committed to providing the most reliable data services and connectivity for businesses and potential locators in Fort Bonifacio.

“High availability and reliability is our commitment to the quality of service from Bayan that our customers need and expect for their business grade services requirements,” Arayata said.

During the last two quarters of 2010, Bayan has installed three new POP (point-of-presence) builds in the Fort Bonifacio Global City in order to expand Bayan’s serviceable areas.

In the coming months (4th quarter 2010 and 1st quarter 2011), more POP builds will ready for service in the same area.

http://www.mb.com.ph/node/291122/bayan-bu


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Friday, December 3, 2010

International News 2010: Samsung promotes chairman's son to president

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SEOUL, South Korea (AP) – The son of Samsung Electronics Co.'s chairman has been promoted to president in a reorganization of top management posts at the conglomerate the giant technology company anchors.

Lee Jae-yong, 42, who is being elevated from executive vice president at Samsung Electronics, would retain his chief operating officer title, Samsung Group said in a statement Friday.

Samsung Electronics is a major force in the global electronics industry, where it holds the top spots in memory chips and flat screen televisions and ranks No. 2 in mobile phones behind Finland's Nokia Corp.

The company is also the flagship corporation of the Samsung Group conglomerate, which consists of dozens of other businesses including shipbuilding, construction, leisure and finance.

Samsung Electronics Chairman Lee Kun-hee's father founded the Samsung Group in 1938. The move to promote Lee Jae-yong, who also goes by Jay Y. Lee, was widely expected after Lee Kun-hee, 68, said last month that his son was set to move up the ranks.

Investors appeared to welcome the news, sending shares in Samsung Electronics 3.3 percent higher in late morning trading to a record 887,000 won ($775). The announcement came about 30 minutes after trading started Friday.

Samsung Electronics has at least 10 executives with the title of president, according to the group. Lee Jae-yong's promotion, however, has been closely watched given that he is a member of the conglomerate's founding family and widely expected to eventually to succeed his father.

http://www.mb.com.ph/node/290705/


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Stock News 2010: ERC orders NPC to refund customers P0.04/kWh

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MANILA, Philippines – Luzon electricity consumers can only expect a minimal reduction of P0.04 per kilowatt hour (kWh) from the foreign exchange refund ordered on National Power Corporation (NPC), the Energy Regulatory Commission (ERC) has clarified.

While the forex gain reduction approved was at P0.34 per kilowatt hour (kWh), this has to be offset from the last adjustment of P0.31 per kWh which has lapsed in November billing cycle.

“The overall reduction in the forex component on NPC charges will just be P0.04 per kWh because that has to be reckoned with its time-of-use (TOU) which was set to even out from the last currency exchange rate adjustment,” ERC executive director Francis Saturnino Juan has noted.

The foreign exchange gains logged by state-run NPC has merited an order from the regulatory body for it to refund P6.6 billion worth of over-collections to Luzon customers. This could have translated to P0.34 per kWh if without the offsetting mechanism.

Visayas and Mindanao consumers will similarly benefit from the rate decline.

http://www.mb.com.ph/node/290794/erc-order


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Thursday, December 2, 2010

Stock News 2010: Globe cuts post-paid roaming cost by 75%

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MANILA, Philippines – Globe Telecom launched a promotional offer for postpaid subscribers that makes international roaming cheaper, up to 75 percent less the usual cost, and easier.

POWERROAM allows postpaid subscribers to have three more call minutes, 15 more text messages and 50 more emails for P499 while they are traveling abroad.

The offer is available in 15 countries and territories: Australia (Optus); Hong Kong (CSL); India (Bharti Airtel); Indonesia (Telkomsel); Macau (CTM); Malaysia (Maxis); Singapore (SingTel); Taiwan (Taiwan Mobile); South Korea (SK Telecom); Thailand (AIS); China (China Mobile and China Unicom); United Kingdom (Vodafone); United States (T-Mobile); Saudi Arabia (Mobily); and Canada (Rogers).

POWERROAM comes in three fully-consumable variants: Plan 499, Plan 999 and Plan 2999, all valid for 30 days.

http://www.mb.com.ph/node/290634/globe-cut


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Wednesday, December 1, 2010

Stock News 2010: Geo-Estate gains ground with The Beacon Makati

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 MANILA, Philippines – Geo-Estate Development Corp.’s maiden venture, The Beacon Makati, is now taking shape amidst more than 10,000 sqm of prime land on the corner of Chino Roces (formerly Pasong Tamo) and Arnaiz (formerly Pasay Road) Avenue. Recently, Geo-Estate president and COO Miriam O. Katigbak expressed confidence that the project will emerge as the only condo development of its kind in the area with a distinguishable and unparalleled “residential resort” theme.

This pronouncement is related to the impending turnover of the first building, Roces Tower, by the middle to the third quarter of 2011. Now in its finishing stages, construction is deemed right on track.

“We started construction of Roces Tower in the middle of 2008 and this 42-story structure is now set for completion soon. For the second phase which is Arnaiz Tower, we started construction in August this year and it is scheduled for turnover in 2013. Amorsolo or Tower 3 is presently in its planning stages and will be launched soon,” Katigbak said.

With sales averaging well across the market segments, Katigbak said that the industry has started to take notice of Geo-Estate as a formidable developer even if it is a young company.

http://www.mb.com.ph/articles/290367/geoestate-gains-ground-with-the-beacon-makati


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Stock News 2010: DTI allows increase in sugar retail price

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MANILA, Philippines – The government Wednesday lifted the suggested retail price for sugar to ease supply as shortage in local supply reached 110,000 tons and a plan to import 310,000 metric tons early next year.

Trade and Industry Secretary and Chair of the National Price Coordinating Council (NPCC) Gregory L. Domingo told reporters after meeting with the manufacturers and retailers.

According to Domingo the lifting of the SRP on sugar was meant to bring in more sugar supply as retailers refused to sell because the SRP on refined sugar is still pegged at P52 per kilo when prices sugar is already selling at P63 to P65 per kilo as ex-mill prices is between P62 to P64 a kilo already.

While the lifting of the SRP on sugar could mean a free-for-all market, Domingo said that DTI would be closely monitoring to ensure there would be no unwarranted increases and unscrupulous traders could still face profiteering and overpricing charges. The idea of lifting the SRP is to ensure there is enough sugar for the Christmas season.

Domingo said the shortage in sugar supply is largely caused by the delayed in the milling season and the continuing higher prices of sugar globally.

He, however, said that some mills are already starting milling.

http://www.mb.com.ph/node/290434/dti-allow

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