Stock News 2011: Smart, HTC forge smartphone partnership

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Smart Communications, Inc. (Smart) and leading smartphone manufacturer HTC Corporation (HTC) announced their exclusive partnership last week, with the country’s biggest mobile operator set to offer the latter’s most advanced devices to the Philippine market.

The partnership was an aggressive move on the part of the two industry leaders to drive the Philippine smartphone ‘revolution’ in a worldwide market estimated to grow 55% year-on-year this 2011.

Recently, Smart reported a 102% jump in the number of smartphone users in its network from February to May 2011, particularly those using handsets that run on Google’s Android operating system (OS).

“Our alliance with HTC is key to our smartphone strategy of providing the best network, complemented by the best plans, to power the best devices – in order to create the best customer experience,” says Orlando Vea, co-founder and Chief Wireless Advisor of Smart.

For its part, HTC has sold about 9.7 million smartphones worldwide – an increase of 192% year-on-year – a feat which it wants to repeat locally.

http://www.mb.com.ph/articles/326419/smart-htc-forge-smartphone-partnership

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Stock News 2011: ERC okays Subic Enerzone's P565-M loan

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A provisional approval was granted by the Energy Regulatory Commission (ERC) on the bid of Subic Enerzone Corporation (SEZ) to secure P565 million loan from Metrobank to be earmarked for its debt refinancing and capital expenditures.

“SEZ is hereby authorized to secure a loan in the amount of P565 million with Metrobank or any banking/financial institution to refinance its outstanding loan and finance its capital expenditure projects,” the regulator has specified in its ruling.

Of the amount, P310 million will be aligned to refinance debt obligations previously secured with the Development Bank of the Philippines (DBP) while the rest will be for its capex program spread through the years.

As culled from its manifestation with the ERC, Subic Enerzone indicated that it would require P165.886 million for capital projects from 2011 to 2015; and another P290.810 million for the years 2016 to 2020. These have been based also on previous approval given by the ERC on its line-up of projects.

“The capex projects for the period 2011 to 2015 are included in SEZ’s application for approval of its annual revenue requirement and performance incentive scheme under the rules for setting distribution wheeling rates,” the ERC decision has emphasized.

http://mb.com.ph/node/326271/erc-okay

Stock News 2011: FLI raises P3B for capex

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Filinvest Land, Inc. (FLI) has successfully raised P3 billion from its unsecured fixed-rate peso denominated debt securities (Retail Bonds) which closed on June 30 and was issued on July 7.

In a disclosure to the Philippine Stock Exchange, FLI said the bonds have a term of five years and three months and have a yield of 6.1962 percent per annum. The bonds were more than two times oversubscribed.

Philippine Rating Services Corporation (PhilRatings) assigned the highest rating of PRS Aaa for these bonds as well as the P5 billion worth of three-year and five-year bonds issued in November 2009.

Issue manager and underwriter for the P3 billion bonds is Unicapital Incorporated and selling agent is East West Banking Corporation.

Proceeds from the bonds will partially finance FLI’s capital expenditures for 2011. Earlier this year, FLI disclosed that its capex budget for 2011 is P12 billion, more than double the P5-billion capex in 2010.

PhilRatings said the ratings assigned reflect the strong growth of FLI’s real estate revenues and higher recurring income from the company’s leasing operations; conservative debt position; and financial flexibility.

The rating also reflects the company’s diversified portfolio; established brand name; and favorable industry conditions, the ratings agency said.

In the next five years, PhilRatings said FLI’s forecast hikes in real estate revenues will come from the strong performance of the affordable, middle-income and high-end segments.

http://www.mb.com.ph/node/326044/fli-rai

Stock News 2011: SSS to increase equity portfolio

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State-run Social Security System (SSS) said Thursday that it plans to boost its investment in the equities market as the pension fund is looking at increasing its holdings in power and mining.

Emilio de Quiros Jr., SSS president and chief executive said the agency will raise its equity holdings from the current 21 percent, adding that its charter allows them to invest up to 30 percent of its entire investable fund in stocks.

De Quiros cited that SSS, which provides benefits to Philippine private sector workers, has roughly P286 billion worth of investable fund.

If SSS board decides to raise its publicly listed stocks holdings to 30 percent, it would mean additional P20 billion in placement.

Analysts said the Philippine Stock Exchange index (PSEi) may reach the 5,000 level this year amid strong investor confidence.

De Quiros earlier said that the pension fund is planning to increase its revenues from contributions.

http://mb.com.ph/articles/325886/sss-increase-equity-portfolio

Stock News 2011: Swiss Reinsurance to insure $250-million trade financing of ADB

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s part of an innovative agreement to boost exports and imports in developing Asia, re-insurance giant Swiss Re will insure $250 million of trade finance conducted via the Asian Development Bank’s (ADB) trade finance program.

The move marks the first time that the Swiss Re Group, through its commercial insurance unit Swiss Re Corporate Solutions, has provided insurance via a trade program run by a multilateral development bank and also the first time ADB’s Trade Finance Program has offset risk with a private insurance company.

Asia’s economy is growing rapidly, but that is largely due to the exporting prowess of a handful of countries led by the People’s Republic of China, along with a few others such as the Republic of Korea and Singapore.

Many other Asian nations, by contrast, find it difficult to export or import key goods because they struggle to get the trade finance they need from international and local banks.

To fill that gap, the ADB’s Trade Finance Program provides guarantees and loans to banks to enable them to provide trade finance, particularly in so-called frontier economies.

http://mb.com.ph/articles/325896/swiss-reinsurance-insure-250million-trade-financing-adb

Stock News 2011: Filinvest City introduces California lifestyle

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Californians are known for living the best of both worlds; they enjoy a laid-back, leisurely lifestyle amid the excitement of a cosmopolitan hub. The skyscrapers of Los Angeles and San Francisco complement the sand and surf where residents can unwind.

The Levels of Filinvest Land, Inc. takes inspiration from this popular West Coast state by offering a relaxed suburban living inside the fast-paced business district of Filinvest Corporate City.

The Filinvest Corporate City (FCC) is a masterplanned urban center and central business district sprawled over 244 hectares of land south of Metro Manila. It accommodates an impressive mix of residential, commercial and business establishments, providing round-the-clock amenities within a self-sustaining community.

According to FLI cluster head and senior vice president Francis Ceballos: “The Levels is a perfect residential sanctuary for career-driven individuals who aspire to achieve a balance between professional success and blissful personal life. It allows them to build a career while raising a family or indulging in their passions every single day.”

With FCC at the junction of four major roads, namely: Alabang-Zapote Road, the South Luzon Expressway, the National Highway, and the Skyway, The Levels becomes an enviable home for families with members working in Makati or at CALABARZON industrial and techno zones. In fact, it is an easy half-hour drive from the Makati CBD while situated at the forefront of the country’s next growth region – the South Luzon area.

http://mb.com.ph/node/325756/filinve

Stock News 2011: Megawide targets P5-B contracts, infrastructure

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High-rise builder Megawide Construction Corporation is priming for more growth with negotiations for P5 billion worth of contracts in the second half while looking to bid for infrastructure projects worth P1 billion to P5 billion each.

In an interview after the firm’s annual stockholders’ meeting, Megawide president Edgar Saavedra said they are talking to two major developers and two smaller property firms with the hope of bagging new contracts.

He said they expect to complete negotiations for at least one of the five targeted projects and make an announcement in about two weeks.

Megawide chairman Michael Cosiquien disclosed that these projects are in Makati, Quezon City and Manila adding that these projects are for the mid to high end segments of the market.

http://mb.com.ph/node/325586/megawide-target

Stock News 2011: Philex's 2011 shipments rise 58%

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Philex Mining Corporation, the country’s top gold producer, registered a 57.5 percent jump in the estimated value of ore production from its Padcal mine to P8.12 billion in the first half of 2011 from P5.16 billion in the same period last year.

The higher estimated production value is due to higher metal prices in the world market as well as higher output from the mine.

Based on the firm’s latest and previous disclosures to the Philippine Stock Exchange, output was 7 percent higher in the first semester the year at 4.66 million dry metric tons (DMT) from 4.36 million DMT in the same period in 2010.

For June alone, Philex reported that the estimated value of production amounted to P1.4 billion, 48 percent higher than the P947 million worth of ore mined in the same month last year.

http://mb.com.ph/node/325587/philex

Stock News 2011: 7-Eleven chain sees P10-B revenues

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Philippine Seven Corp., operator of the country’s largest convenience store chain 7-Eleven, expects sales to hit P10 billion this year from P9 billion last year as the company is lording it over competition with 750 total stores by end of this year.

Victor Paterno, president and CEO Philippine Seven Corp., told reporters at the press launch for the Franchise Asia Conference 2011 to be held here in September this year, they are going to open its 600th store on Wednesday in McKinley Hill, Fort Bonifacio .

They have targeted to open 150 new stores this year of which 60 had been opened already. There were only 500 7-Eleven stores last year with 50 percent located in Metro Manila.

With the aggressive store openings, the company has allocated between P600 million to P700 million capital expenditures this year.

Its closest competitor is Mini-Stop but is way below in terms of the number of stores. 7-Eleven accounts for 50 percent of the total convenience store sector.

7-Eleven has also saturated most call center buildings in the metropolis with an estimated 100 stores.

http://mb.com.ph/node/325441/7eleven-chain-

Stock News 2011: Alveo H1 sales up 80%

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Alveo Land, the middle-income residential unit of Ayala Land Inc., posted an 80 percent jump in reservation sales to 1,200 during the first half of the year from 685 units in the same period in 2010.

In an interview, Alveo chief operation officer Robert Lao said that the firm is aiming to sell about 3,000 units this year – more than double its first half reservation sales.

He said growth will be due to more projects launched in the market this year with about 12 new projects to be introduced to the market in 2011 compared to about 5 last year.

http://mb.com.ph/node/325291/alveo-h1-

Stock News 2011: UP and ALI sign agreement to develop Integrated School Proper

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The University of the Philippines (UP) and Ayala Land, Inc. (ALI) recently signed the contract of lease for the first University Town development in the country at the UP Integrated School (UP-IS) property.

The UP-IS Property will be developed into a mixed-use project consisting of both retail and office components, with firm emphasis on academic support facilities.

The project presents a good opportunity to service the needs of the students, office workers and residents in the immediate vicinity.

The project will involve the construction and operation of a retail establishment and a combination of headquarter-and-BPO-type office building in the UP-IS Property as well as the donation of a new UP-IS building to be constructed in a more suitable location within the main campus of UP Diliman.

http://www.mb.com.ph/node/325044/up-and-ali-