Stock News 2011: Robinsons' Pearl Place follows proximity principle

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In the past, city planners would design settlements in clusters, with residential areas allocated around the centers of government and commerce, within the proximity of hospitals, schools and churches. Today, following the same principle of proximity, Robinsons Land Corporation (RLC) has found a way to make this lifestyle option a reality in the Ortigas Business District.

The Pearl Place, which is under the Robinsons Communities brand, is presented as the ideal solution for metro denizens who like their commutes short and their downtime lengthy.

Located along Pearl Drive, adjacent to the University of Asia and the Pacific, this project is within walking distance to Shangri-La EDSA mall, SM Megamall and the Podium, as well as banks, churches and several hotels.

More importantly, it’s close to major thoroughfares like Shaw Boulevard and EDSA, which also means one is near the transport terminals of buses, jeepneys and cabs, as well as one of the stations of the MRT Line-1.

“By living at The Pearl Place, you get to have everything brought closer to home,” said Rouen Raz, VP for sales and marketing of Robinsons Communities.

http://www.mb.com.ph/articles/300894/robinsons-pearl-place-follows-proximity-principle

Stock News 2011: 8 Forbes presents luxury address

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 It’s that time of the year when people are looking for something auspicious to bring more luck for the entire year. At the booming Bonifacio Global City, one will find a high-class residential address – 8 Forbes Town Road Golf View Residences.

Its address, with the designated number 8, is believed to promote good luck. And its location within the posh Forbes Town Center, overlooking the famed Manila Golf & Country Club, ranks this address among the elite.

Since it’s the last prime piece of property bordering the pristine greens of the Manila Golf & Country Club in Forbes Town Center, one’s investment is expected to increase in value over the years.

“Property prices have been increasing in value over the last few years. No doubt, prime properties like 8 Forbes Town Road will be leading the surge in value once it’s turned over. Now is your last chance to own a unit in this address,” said Megaworld FVP for marketing and project head Noli Hernandez.

http://www.mb.com.ph/articles/300895/8-forbes-presents-luxury-address

Stock News 2011: AboitizPower reiterates need for flexible RE policies

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AboitizPower Corp. reiterated the need for more flexible policies that would help reduce the barriers that hinder the development of small as well as large-scale renewable energy plants.

“Requiring the same studies, permits and fees from a 1-megawatt (MW) renewable energy plant as a 50-MW will discourage the development of small-scale plants in favor of larger-scale plants, even if the potential capacity in the country for small plants exceed that of the larger plants,” company senior vice president Luis Miguel Aboitiz pointed out during his speech at the Renewable Energy Conference & Expo Manila 2010.

Aboitiz made the call as he shared insights on the policies that face companies in starting out greenfield projects in renewable energy.

AboitizPower, which currently represents one of the largest private renewable energy producers in the country, sponsored the event as part of its commitment to encourage both businesses and individuals to support energy solutions that will leave a lighter impact on Earth’s resources and promote the usage of cleaner and renewable energy.

http://www.mb.com.ph/node/300711/aboitizpower-reiterate

Stock News 2011: PSBank net profit up 46% to P1.8 billion

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Philippine Savings Bank (PSBank), the thrift bank arm of the Metrobank Group, expects net income to hit P2 billion this year after it reported a 46 percent surge in its 2010 audited net income to P1.8 billion from the P1.2 billion recorded in 2009.

In a disclosure to the Philippine Stock Exchange, the Bank said it had breached its P1.4 billion 2010 net income target as early as the third quarter last year. Earnings this year is expected to be driven by continuing improvements in its core revenues.

The 2010 net income of the country’s second largest thrift bank is supported by the growth in assets from P93.1 billion to P104.1 billion. Of this amount, gross loans expanded by 15 percent to P55.6 billion with auto loans rising by 27 percent, mortgage loans by 11 percent and personal loans by 9 percent.

On the other hand, the Bank’s investments portfolio, contributed an increase of 13 percent to P26.2 billion.

“The Bank’s outstanding performance and growth in market share in 2010 were due to strong consumer demand, backed by product improvements and excellent customer service. Price is not the only factor that customers consider, they also look for speed in delivery, convenience and reliability,” PSBank president Pascual M. Garcia III said.

http://www.mb.com.ph/node/300716/p

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Stock News 2011: Ayala Land prepares new residential ideal in Cebu

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One of the country’s regional hubs gives rise to a new residential ideal.

1016 Residences, the newest offering unveiled by Ayala Land Premier, underscores an integrated lifestyle based on the ease and convenience that will complement the Cebu lifestyle. With this in mind, the developer is bringing in residential standards inherent to the Ayala Land name.

http://www.mb.com.ph/articles/299514/ayala-land-prepares-new-residential-ideal-cebu

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Stock News 2011: RLC posts P3.6-B FY net income, up 10%

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Robinsons Land Corporation (RLC), the property development arm of JG Summit Holdings, reported a 10 percent growth in net income for the fiscal year ending September 2010 to P3.59 billion.

In a disclosure to the Philippine Stock Exchange, RLC said net profit growth would have been higher at 13 percent if the P103 Million gain from interest rate swap transaction in 2009 was excluded.

RLC generated total gross revenues of P11.30 billion for fiscal year 2010, an increase of 5 percent from P10.73 billion of total gross revenues for fiscal year 2009. EBITDA amounted to P6.41 billion in 2010, up by 8 percent from 2009.

The firm said its Commercial Centers Division accounted for P5.74 billion of the real estate revenues for the year versus P4.21 billion in 2009.

The 36 percent increase was principally due to newly opened malls particularly Robinsons Place General Santos, Robinsons Ilocos Norte, Robinsons Place Dumaguete, and Cybergate Cebu.

http://www.mb.com.ph/node/299195/rlc-po

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Stock News 2011: URC doubles net profit to P7.8 billion

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Universal Robina Corporation (URC) reported that its net income attributable to equity holders of the parent doubled to P7.82 billion in fiscal year ending September 2010 from P3.89 billion in the previous fiscal year.

In a disclosure to the Philippine Stock Exchange (PSE), URC said consolidated sale of goods and services rose 14.4 percent to P57.72 billion as revenues from almost all business segments grew by double digits.

Sale of goods and services in URC’s branded consumer foods segment (BCFG), excluding packaging division, hiked 11.1 percent to P42.32 billion from P38.1 billion in 2009.

http://www.mb.com.ph/node/299168/urc-double

Stock News 2011: Chemrez awards 'green' invention

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Chemrez Technologies Inc., the country’s top producer of environment-friendly innovations, has given the Chemrez Green Chemistry Award to a fifteen-year-old student who designed a device which sequesters toxic gases emitted by motor vehicles.

Hailed by judges as a ‘green’ invention, Benedict Manwell R. Priela, a senior high school student of the Holy Infant Academy in Calapan, Oriental Mindoro, was awarded the Chemrez Green Chemistry Award (Student Category) in the NICE held recently at SM Cebu Trade Hall.

The invention was borne out of Priela’s distress over the hazardous black smoke belched by vehicles. This drove him to work on a school science project that addresses this widespread problem and for which he bagged a green chemistry award in the recently concluded National Invention Contests and Exhibits (NICE).

The young inventor designed a device which sequesters the toxic gases emitted by motor vehicles and named it the Vehicle Emission Trap or simply VET.

Results of emission tests conducted on vehicles with VET installed on them showed that carbon dioxide, a major greenhouse gas, was reduced by 94% and carbon monoxide, a deadly gas, by 96 percent.

“I want to be a doctor,” Priela said when asked about what his future plan was, obviously wanting to follow the footsteps of his father who is a medical doctor himself.

The VET puts into practice what green chemistry is all about. It is the design of chemical products and/or chemical processes that reduce or eliminate the use or generation of substances, directly or as a by-product, that are hazardous to human health or the ecosphere.

http://www.mb.com.ph/node/299027/chemrez-award

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Stock News 2011: Banks now offering 25-year housing loans

The Department of Finance (DoF) said Monday that some local banks are now willing to provide housing loans of up to 25 years after the government successfully sold longer-dated debts.

Finance Secretary Cesar V. Purisima said, in an interview, that some local banks came to him and have showed interest in introducing housing loans that are payable in 25 years.

“Banks now are telling me that they’re looking at offering consumers 25-year housing loans. Before, loans outside Pag-IBIG [Home Development Mutual Fund] can only be 15 years,” Purisima said.

In December last year, the Aquino government issued debt notes maturing in 2035, in the process creating a new benchmark rate for 25-year bonds.

http://www.mb.com.ph/node/299057/bank

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Stock News 2011: ERC sets higher capex for Meralco this year

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Even as it prodded the power utility giant to extract more efficiencies in its operations, the Energy Regulatory Commission (ERC) is likely to allow slightly higher capital expenditure (capex) for Manila Electric Company (Meralco) this year to P8.308 billion from what the latter has applied for at P7.955 billion.

The power distribution firm has divided its capex program into various components, namely: Distribution plant; non-network plant; connection plant; retail plant; materials and supplies and sub-transmission.

In the 91-page draft determination on Meralco’s third regulatory reset under performance-based regulation (PBR) though, it can be gleaned that there is probability that its approved capex program will continuously go down from 2012 to 2015.

Next year, the regulator indicated that the utility firm may be allowed a capital outlay of P9.444 billion; but this will be pared to P8.412 billion in 2013.

http://www.mb.com.ph/node/298804/erc-

Stock News 2011: RLC makes bid for FTI property

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Robinsons Land Corporation (RLC) has submitted an unsolicited proposal to the government for the acquisition of a 103 hectare property in Taguig City that is part of the Food Terminal Inc. (FTI) complex.

Sources said the proposal was submitted earlier this week and covers 103 or 120 hectare property of FTI in Taguig. The remaining 17 hectares of the property is already owned by the National Food Authority.

Of the 103 hectare lot, 24 hectares have been declared a special economic zone, with some parcels still subject of long-term contracts – between the Philippine Economic Zone Authority and locator firms – that would be honored even after privatization, while 79 hectares of the FTI complex are free for development.

http://www.mb.com.ph/node/298581/rlc-make

Stock News 2011: SMC raises stake in Bank of Commerce

San Miguel Properties Inc. has acquired an additional 7.16 percent stake in Bank of Commerce, raising the stake of the San Miguel group in the bank to 59.16 percent.

In a disclosure to the Philippine Stock Exchange, SMPI said the acquisition was by way of a deed of sale of shares with assignment of subscription rights from Valiant Ventures and Development Holdings Inc.

SMPI said the sale is subject to completion and submission of parties of the standard closing conditions, including corporate approvals. The acquisition was approved by the SMPI board of directors last December.

Early last year, SMPI announced that it was transferring its 31 stake in BOC to the SMC Group Retirement Fund.  The transfer increased the stake of SMC Retirement Fund in the bank to 52 percent.

http://www.mb.com.ph/articles/298659/smc-raises-stake-bank-commerce

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Stock News 2011: Pepsi-Cola set to build 2 biomass facilities

A three-way goal intersecting on electricity cost reduction, addressing power supply quality, and abating climate change risks has prompted Pepsi-Cola Products Philippines Inc. to construct its own biomass facilities, two of which are targeted for commissioning simultaneously around May or June this year.

The first two projects, according to PCPPI Commercial Director Gabby Gabinete, which will service the electricity needs of the soda company are sited in Rosario, La Union in Luzon and Cagayan de Oro in Mindanao.

“The project is expected to significantly reduce the company’s energy costs, address the power shortage in the country and increasing cost of fuel, and at the same time, promote a carbon emission-free business environment,” the company has noted further in a statement.

The La Union facility, he said, would be able to yield 1.0-megawatt capacity for the company’s use and it commands an investment of $1.4 million.

http://www.mb.com.ph/node/298389/pep

Stock News 2011: MRC Allied raising P1 B via private placement

MRC Allied Inc. may opt to sell shares via private placement to raise about P1 billion for its mine exploration activities instead of the earlier planned P750-million primary common or preferred share offering.

In an informal briefing, MRC chief finance officer Vicente Laza said they are more inclined towards the fastest means to raise fresh funds since they want to start exploration activities in their two recently acquired mine sites as early as possible.

Since the private placement of shares will dilute existing shareholder, Laza said it’s a possibility that the firm’s major shareholder, Menlo Capital Corporation will be one of the investors in the private placement.

He explained that a rights offering will take at least six months to complete and stringent requirements for rights offers will not give them the flexibility to rechannel funds for the acquisition of more mine sites if the opportunity arises.

MRC chief information officer Miguel Bitanga said they are looking to acquire more mining properties in the next five months with a target of buying three more mine sites this year.

http://www.mb.com.ph/node/298364/mrc-allied-rai

Stock News 2011: GMA Network's cable channels launched in 10 US cities in 2010

GMA Network announced that its international operations ended 2010 with more than ten new launches for GMA Pinoy TV and GMA Life TV in different cities in the US and expects to serve even more cities this year.

“It will be a busy and exciting 2011 for GMA Pinoy TV and GMA Life TV as we continue to expand the distribution of these international channels. We look forward to serving more of our fellow Filipinos around the world through these new launches," said GMA International vice president and operations head Joseph T. Francia.

Digital cable provider Comcast, which brings the network's flagship international channel, GMA Pinoy TV, to the homes of Filipinos in the US added nine more locations to its areas of coverage just last December.

The firm provides cable services in Northern and Central California; Boston and Brookline in Massachusetts; Houston, Texas; Portland, Oregon; and Spokane, Washington.

http://mb.com.ph/node/298149/gma-network

Stock News 2011: Revenues from tobacco higher than expected

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The Philippine Tobacco Institute (PTI) said over the weekend that the government revenues from tobacco products would continue to do well this year following the effectivity of the 8 percent excise tax on January 1.

In a statement, Rodolfo Salanga, PTI president cited data from the Bureau of Internal Revenue (BIR) showing that from January to November last year, total excise tax collection from tobacco products have already amounted to P27.83 billion.

Salanga said the amount as of November was already higher than the P25.8 billion expected revenues by the Department of Finance (DoF) for the full year of 2010.

http://www.mb.com.ph/node/297949/revenue

Stock News 2011: Vista Land sees strong growth in 2011

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Vista Land and Lifescapes expects to post strong growth in 2011 on back of its diversifying into sectors such as the vertical residences segment where it was able to launch projects worth P12.5 billion in its maiden year.

“We are very pleased that Vista Land’s diversification efforts are on track, based on our performance in the past year,” said Vista Land President Benjamarie N. Serrano adding that the firm will focus more on the middle-rise segment in 2011.

Leveraging its leadership in affordable housing, Serrano said Vista Land is building its successful implementation of its diversification strategy last year, foremost among which is the firm’s carving out a major role in the vertical residences segment.

Vista Land started 2010 with the introduction of its newest business unit, Vista Residences, which consolidated all its condominium projects for greater operational and sales efficiencies, along with a unified brand presence in the market.

Vista Residences now has 22 developments in its portfolio, with 15 of them completed and turned over to buyers very recently.

The completed developments are Madison, Symphony Tower 1, and Pinecrest Tower 1 in Quezon City; Mosaic and Trevi Tower 1 in Makati; Crown Tower U-Belt in Manila; Marfori, Michelangelo, Rembrandt, Monet, and Bellini in Sucat; Grand Quartier 1 and Grand Quartier 2 in Tagaytay; Pacific Residences Tower 1 in Taguig; and Northpoint Tower 1 in Davao.

The business unit’s seven ongoing condominium developments are flagship project WIL Tower 1 and Pinecrest 2 in Quezon City; KL Mosaic, Trevi Tower 2, and Trevi Tower 3 in Makati; and Avant and Pacific Residences 2 in Taguig.

http://www.mb.com.ph/node/297766/vi

Stock News 2011: BDO named one of the world's best finance banks for 2010

Banco De Oro Unibank, Inc. (BDO) was cited for being one of the world's best trade finance banks for 2010 by the New York-based Global Finance magazine.

“The availability of trade finance at reasonable prices is crucial to the health of the global economy. We have selected the banks that are best serving the needs of corporations worldwide as they engage in cross-border trade,” Global Finance publisher and president Joseph D. Giarraputo said in a statement.

BDO was cited the best in the Philippines by Global Finance editors, with inputs from industry analysts, corporate executives and technology experts.

http://www.mb.com.ph/node/297615/bdo-named-one-world

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Stock News 2011: Auto industry breaks record sales

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The local auto industry capped the year 2010 with a strong double-digit growth at 27.2% versus the previous year selling 168,490 units, surpassing the industry’s highest ever sales benchmark of 162,000 units in 1996 on back of strong business confidence and recovery of the domestic economy.

“It is about time the industry surpassed that benchmark. 2010 was an auspicious year for the auto industry, showing strong growth backed by major accomplishments that will help the industry as a whole move forward,” said Elizabeth Lee, president of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI).

Based on the CAMPI report, out of the overall 168,490 unit sales in 2010 the passenger car segment sold a total of 58,691 units or 27 percent higher than the 46,228 units sold in 2009.

The commercial vehicle contributed the bulk of the 2010 sales with 109,799 units or 27.4 percent higher than the 86,216 units sold in 2010.

Of the commercial vehicle segment, the light commercial vehicle category, which are mostly sports utility vehicles, accounted the biggest sales of 69,754 units or 32.3 percent higher than the 52,708 units in 2009. The Asian utility vehicle category grew 21.9 percent to 36,903 units as against 30,262 units in 2009.

http://www.mb.com.ph/node/297465/auto-indu

Stock News 2011: Accenture to become country's biggest employer with 25,000 come August

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By August 2011, Accenture will be the Philippines’ biggest private employer, with a local workforce of 25,000, Group Chief Executive Michael J. Salvino told reporters the other day.

Accenture is US$21.6-billion management consulting, technology services and outsourcing firm employing 211,000 people to serve clients in more than 120 countries. It is very bullish about its Business Process Outsourcing (BPO) business in the country. “We are big on BPOs, we have created it as our growth platform and it’s a maturing business but it will be here for a very long time,” he underscored.

http://www.mb.com.ph/node/297222/accenture-become-country

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Stock News 2011: Maynilad starts 5% discount for senior citizens

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Effective immediately, senior citizen customers of Maynilad Water Services, Inc. (Maynilad) may avail of a 5% discount on their water consumption.

To qualify for the discount, the Maynilad water service connection must be classified under the Residential or Semi-Business category, registered in the name of the senior citizen and the monthly basic consumption of the account must not exceed 30 cu.m.

http://www.mb.com.ph/node/296954/maynilad-

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Stock News 2011: SMC extends due diligence on Indophil

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Diversifying giant conglomerate San Miguel Corporation and Indophil Resources NL of Australia have agreed to extend the exclusivity period of their share placement agreement by one month.

In a disclosure to the Philippine Stock Exchange, SMC chief finance officer Ferdinand Constantino said the period under which SMC has the exclusive right to buy more Indophil shares has been extended to February 10, 2011 from January 10.

The agreement was part of a deal wherein SMC acquired a 10.1-percent stake in Indophil which owns a 37.5-percent stake in Sagittarius Mines, Inc. (SMI), which has the rights to the Tampakan gold and copper mine in South Cotabato.

The Tampakan deposit, discovered in 1992, is said to be a 2.4 billion tonne mineral resource and is ranked as the fifth largest known undeveloped copper-gold deposit.

The deal, worth A$41.29 million (approximately US$40 million) at A$0.86 per share, gave SMC an exclusivity period to complete its due diligence and decide whether the company should initiate a tender offer or other proposals to acquire additional shares in Indophil.

http://www.mb.com.ph/articles/296951/smc-extends-due-diligence-indophil

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