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Thursday, September 27, 2012

Stock News 2012: RCBC named Domestic Retail Bank of the Year

Banking, Finance and Insurance Commission (Bel...
Banking, Finance and Insurance Commission (Belgium) (Photo credit: Wikipedia)

For the second year in a row, Rizal Commercial Banking Corp. (RCBC) has won the award for Domestic Retail Bank of the Year-Philippines in a recent ceremony conducted by the Asian Banking and Finance (ABF) Magazine, one of the leading business publications in Asia.

The annual award recognizes the region’s best performances by various banking and finance organizations. RCBC’s comprehensive re-engineering program that triggered a step up in its sales, service delivery channels, product innovation, and cross-selling activities beginning in 2007 continues to reap dividends for the bank, as it secures again the ABF distinction it gained last year.

Ismael R. Sandig, RCBC senior executive vice president and head of Retail Banking Group, said that the award is a testament to the bank’s commitment to continuously improve its services to its clients. “This award, along with our other citations, showcases our relentless drive for growth. It is ultimately our customers that spur us to excel,” he explained.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=853526

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Friday, September 21, 2012

Stock News 2012: Globe, Smart vow better service

The old Globe corporate logo.
The old Globe corporate logo. (Photo credit: Wikipedia)

The country’s largest telecom companies vowed yesterday to provide better service to subscribers upon the completion of their respective network modernization after failing to meet the service standards set by the National Telecommunications Commission (NTC).

In a press conference, Globe Telecom Inc. president Ernest Cu said subscribers would enjoy better service once the first phase of the company’s $700 million is completed by March 1.

“As soon as we fully fire up our brand new network, our subscribers and the entire nation will enjoy a whole new mobile experience that is once again pioneered by Globe Telecom,” Cu stressed.

He pointed out that the network modernization program started last March 28 is already 50 percent complete and the change-out completion nationwide is expected to be within the first quarter of next year.

He reiterated that the Ayala-controlled company is building a new network that is future-proof resulting in higher quality call, pervasive 3G and 4G coverage, and faster mobile internet experience.

Despite the ongoing network modernization program, Cu said the legacy network of Globe outperformed that of Smart Communications Inc. of dominant carrier Philippine Long Distance Telephone Co. (PLDT) based on the network benchmark test conducted by NTC for the second quarter.

However, he explained that the company’s service in areas such as the Makati City central business district encounter congestion in certain times of the day.

“I am saying that our service is not perfect. There is no perfect network, if someone is telling you their network is perfect then they are lying,” Cu said.

On the other hand, Smart said the second quarter Quality of Service Benchmarking Conducted on Mobile Network Service Providers of NTC confirmed the company’s network superiority over that of Globe.

Smart spokesperson Ramon Isberto said in a telephone interview that the company outperformed Globe in four out of the five categories used by the NTC in the benchmarking test.

“In four out of those five categories used in the NTC test, we are saying that we are doing better. It is better to have four out of five than one out of five,” Isberto stressed.

He added that the NTC quality of service benchmarking showed that Smart’s network is better even though the company was in the middle of its P67 billion modernization program that was recently completed.

Smart vowed to work hard in order to provide its customers superior service despite the validation by the NTC test that its network was superior than that of Globe.

“By completing our network transformation in mid-2012, we are now moving on to deliver to our subscribers next generation services such as the Long Term Evolution. This is vital because we realize that, in the end, it is the satisfaction and judgment of our customers that really matter,” Smart said in a statement.

Globe and Smart failed to pass the standard for Grade of Service of four percent set by the NTC. The monitoring showed that Smart scored 9.95 percent while Globe had 4.45 percent. The Grade of Service or blocked calls refer to the percentage of calls that were not given access by the network.


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Wednesday, September 19, 2012

Stock News 2012: Vista Land declares P672.5-million cash dividend


Villar-led home developer Vista Land and Lifescapes Inc. has approved the declaration of cash dividends amounting to P672.5 million or P0.08 per share.

In a statement issued yesterday, Vista Land said the regular cash dividends represent 20 percent of the company’s consolidated net income for 2011.

Stockholders on record as of Oct. 2 are entitled to receive the dividends. The payment date will be on Oct. 26.

The regular cash dividends are in addition to the special dividends the company paid earlier this year, bringing total dividend payout equivalent to 30 percent of the prior year’s net income or P0.12 per share.

In the first half of the year, Vista Land posted net earnings of P2.19 billion, up 25 percent from P1.74 billion in the same period in 2011. Revenues rose 22 percent to P8.1 billion while reservation sales grew 47 percent to P20 billion.

The company remains on track to meet a projected 20-percent rise in profit and sales this year to P4.2 billion and P16 billion, respectively. Reservation sales are likewise forecast to hit P40 billion by yearend.

http://www.philstar.com/Article.aspx?articleId=850016&publicationSubCategoryId=66

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Tuesday, September 18, 2012

Stock News 2012: Bidding for MRT 3 expansion faces delay

English: Platform area of J. Ruiz LRT Station ...English: Platform area of J. Ruiz LRT Station of the Manila Light Rail Transit System with an entering MRT-2 train. (Photo credit: Wikipedia)
The Department of Transportation and Communications (DOTC) needs time to study if there is a need to seek the approval of Metro Pacific Investments Corp.(MPIC) before bidding out additional light rail vehicles (LRVs) for the Metro Rail Transit (MRT) 3 system, an official said.

DOTC undersecretary Rene Limcaoco told reporters on the sidelines of the Philippine Economic Briefing yesterday that the department is still looking into the contract of the government with the MRT operator to see what needs to be done before it sets the bidding for the expansion of the MRT 3 system.

“We’re studying the contracts to determine what needs to be done,” he said.

Among the things they are looking at is whether the department would have to get the consent of the MPIC which holds an economic interest in the Metro Rail Transit Corp., the owner and operator of the MRT 3.

“We’re studying whether that approval is needed,” Limcaoco said.

Earlier this month, the National Economic and Development Authority (NEDA) Board approved the MRT 3 capacity-expansion project.

The project, which costs P8.63 billion, involves the acquisition of an additional 52 LRVs as well as the implementation of required ancillary works, to enable operating the MRT 3 system at a four-car train configuration.

The MRT 3 spans North Avenue station in Quezon City until Taft Avenue station in Pasay City.

Limcaoco also said the DOTC would endorse soon to the NEDA Investment Coordination Committee the common ticketing system project for Lines 1 and 2 of the Light Rail Transit (LRT) and the MRT 3 soon.

He declined to give more details on the schedule.

The LRT Line 1 runs from Roosevelt station in Quezon City until the Baclaran station in Pasay City, while Line 2 is from Santolan in Pasig to Recto in Manila.

Limcaoco said it would be up to the winning bidder if it would want to add features to the ticket.

Earlier, DOTC Secretary Manuel Roxas II said the department was looking at having a ticket similar to Hong Kong’s octopus card, which would not only be used for transport, but could also be used to purchase goods in convenience stores.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=849985

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Monday, September 17, 2012

Stock News 2012: EDC commits to develop new geo projects overseas

The Nesjavellir Geothermal Power Plant in Þing...The Nesjavellir Geothermal Power Plant in Þingvellir, Iceland Français : La centrale électrique géothermique de Nesjavellir, à Þingvellir, en Islande. Magyar: A Nesjavellir Geotermikus Erőmű (Þingvellir, Izland) (Photo credit: Wikipedia)
Lopez-led Energy Development Corp. (EDC) is committed to developing new geothermal projects overseas.

The world’s second largest integrated geothermal company said it is focusing exploration projects and securing new service contracts in Chile.

In a statement, EDC said it reaffirms its “commitment to develop geothermal resources outside the country, specifically in Chile, where it has been awarded three geothermal exploration concessions by the Chilean Ministry of Energy.”

“We are now expanding our international resources so we can better understand the local settings to complement our more than 35 years of technical expertise developed in the Philippines,” said EDC president and chief operating officer Richard B. Tantoco.

Specifically, EDC will start preliminary survey work in its three geothermal exploration concession areas of Newen, San Rafael and Batea.

It will also pursue other concession areas in its bid to put up the first geothermal power plant in Chile.

To date, EDC has four pending applications for geothermal concessions in Chile, where EDC has set up a local office to facilitate its expansion.

“It is normal at this early exploration stage to build up the company’s concession portfolio and systematically conduct detailed studies on each,” EDC said.

During the Asia-Pacific Economic Conference Leaders’ Summit in Vladivostok, Russia early this month, President Aquino and Chilean president Sebastian Piñera expressed their interest in establishing a deeper partnership in geothermal energy development.

In February, EDC and Hot Rock Ltd. of Australia signed an agreement to acquire four geothermal projects in Chile (Calerias and Longavi) and Peru (Quellaapacheta and Chocopata).

However, the partners dropped the Calerias and Longavi projects in Chile in July and the Chocopata project in Peru early this month after finding out that the projects are not commercially viable.

http://www.philstar.com/Article.aspx?articleId=849615&publicationSubCategoryId=66

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Sunday, September 16, 2012

Stock News 2012: Before MVP, Ayala showed interest in GMA-7

GMA Network, Inc.GMA Network, Inc. (Photo credit: Wikipedia)
The Ayala Group’s plan to integrate telecommunications and media could have happened several years ago had it succeeded in reaching a deal with GMA Network Inc.

The conglomerate, which owns the country’s second biggest telco (Globe Telecom), once trained its sights on GMA-7 but talks failed to reach advanced stages.

When asked to confirm this, GMA-7 chairman and chief executive officer Felipe Gozon said: “Yes, several years ago.”

Gozon did not elaborate although he was quick to point that the Ayala conglomerate has not made any overtures lately.

In his previous interviews, Gozon said a big conglomerate aside from telecommunications giant Philippine Long Distance Telephone Co. has expressed interest in GMA-7. He did not name the interested party though.

While the network is free to entertain other groups, GMA-7 is talking only to the PLDT Group at the moment, struggling to close a big-ticket deal that would give the Manuel V. Pangilinan-led group a leading market position in the broadcasting industry. The deal, when consummated, will likely change the face of Philippine broadcasting and telecommunications.

With the telecommunication industry grappling with shrinking profitability and increasing pressure from social networking sites, Globe Telecom recognizes the need to look for new avenues of growth in order to create a sustainable competitive advantage in its markets.

Globe president Ernest Cu in earlier interviews said the company is considering offering “new age” content, whether news or entertainment, to its subscribers.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=849610

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