Pages

Saturday, May 18, 2013

Stock News 2013: Bloomberry revenue hits P578M

HK Citywalk Food & Beverage Outlet 荃新天地
HK Citywalk Food & Beverage Outlet 荃新天地 (Photo credit: Wikipedia)

Gaming firm Bloomberry Resort Corp. chalked up P578.3 million in revenue in the first 15 days of Solaire Manila Resort & Casino’s operations.

But for the first quarter, Bloomberry incurred a net loss of P1.06 billion, 688.6 percent higher year-on-year, due to higher pre-operating expenses as well as operating expenses and cost of sales during the first 15 days of operation.

Bloomberry launched the first entertainment complex in Pagcor City last March 16.

In the first quarter, gaming was the biggest contributor to revenue, amounting to P495.6 million. Its hotel, food and beverage outlets contributed P57.1 million while retail revenue from the first 15 days of commercial operation reached P1 million.

Other income consisted mainly of lease rentals, communication and transportation services.

After the opening of the first phase of its entertainment complex, Solaire said it would soon ramp up its gaming business. A number of junket operators have signed up to bring in foreign VIP players while numerous promotional programs and strategic marketing activities are ready to be launched, Bloomberry said.

Since opening day, Solaire’s hotel and food beverage outlets have become go-to destinations, becoming the byword for upscale service, amenities and excellent food and beverage choices. Bloomberry also announced that Solaire had adjusted its prices “to address concerns about being too pricey.”


Enhanced by Zemanta

Friday, May 17, 2013

Stock News 2013: Property, gaming boost AGI profits in Q1

Casino logo
Casino logo (Photo credit: Wikipedia)

Alliance Global Group Inc. grew its first-quarter net profit by 18 percent year on year to P4.91 billion on higher earnings chalked up by its property development, gaming and beverage businesses.

Core net income attributable to AGI shareholders likewise increased by 21 percent to P3.58 billion from the level a year ago, the company disclosed to the Philippine Stock Exchange on Wednesday.

Property development arm Megaworld Corp. posted a 15-percent rise in first-quarter net profit to P1.8 billion.  Megaworld contributed around 34 percent to AGI’s net income and about 26 percent to total revenue.

Leisure estate and gaming unit Travellers International Hotel Group—a partnership with the Genting group of Malaysia, which has made plans to go public—grew its first-quarter net profit by 16 percent year on year to P995 million. Travellers operates Resorts World Manila, the first integrated tourism estate in the country.

Emperador Distillers Inc. posted a 40-percent jump in first-quarter net profit to P1.4 billion.

Megaworld, Travellers and Emperador collectively contributed 84 percent of the conglomerate’s net profit.

“We believe the current macroeconomic conditions will contribute positively to our various businesses, from consumer and property to BPO and tourism—all growth drivers of the Philippine economy. These businesses will hit double-digit growth in revenues and net profits,” AGI chairman Tan said in a press statement.

Consolidated revenues went up by 25 percent to P30.39 billion in the first three months from the level a year ago.

Real estate arm Megaworld contributed around 34 percent to AGI’s net income and about 26 percent to its total revenue.

Megaworld’s three-month revenues stood at P8.1 billion, up 16 percent year on year. As an indicator of future growth, Megaworld and its subsidiaries also posted over P18 billion in reservation sales for the first quarter, higher than the P14 billion level in the same period last year, as the group reported brisk sales from the residential projects in its townships, particularly Newport City, McKinley West, McKinley Hill and Eastwood City.

Megaworld also cited strong leasing income from its BPO and retail portfolio.



Enhanced by Zemanta

Thursday, May 16, 2013

Stock News 2013: SM inaugurates SM Aura at Global City

English: SM Supermalls logo
English: SM Supermalls logo (Photo credit: Wikipedia)

Tycoon Henry’s Sy’s SM Prime Holdings has debuted in Bonifacio Global City with the launch of SM Aura, a state-of-the-art civic center with office and retail space that was built as a partnership with the City of Taguig.

SM Aura, which has a gross floor area of 234,892 square meters, is an integrated development that incorporates office towers, a chapel, a convention center, and a mini-coliseum, supported by a retail podium with an upscale look and feel.

“We are glad to be given this opportunity to work with the city of Taguig in building a state-of-the-art civic center which will redefine the city’s landscape. We support Taguig’s bid to be a world-class city as SM Aura is an innovative concept with its fashion, dining, entertainment, business and lifestyle selections and ground-breaking architecture and first-rate design that will appeal to other cities that want to showcase their best for the world to see,” SM Prime president Hans Sy said in a press statement on Thursday, during the blessing of the new structure.

With this new complex, the SM group said it aimed to transform Taguig’s town center into a “landmark and prestigious address, showcasing the best in building design and environmental sustainability, with superior engineering, cutting-edge technology and modern facilities for conventions, exhibits and other community events.”

SM Aura also aims to be one of the first civic centers in the country to be certified Gold under the US Green Building Council Leadership in Energy and Environmental Design (LEED) program, an internationally recognized green building program established in 135 countries.

Designed by the Miami-based architectural firm Arquitectonica, the design of this building forms three curvilinear ribbons evocative of a tree extending its roots. Each ribbon is subdivided to form large staggered windows at the northern end. At the southern end, the three ribbons turn vertically to form the office towers, with each ribbon being slightly angled and finishing at different levels.

A dome-shaped, state-of-the-art, 1,000-seat event hall to be named “Samsung Hall” will serve as a  venue for concerts, stage performances, plays, and product launches. A modern arched structure forms the roof of The Chapel of San Pedro Calungsod, which can seat 250 people.

For anchor tenants, the civic center has SM Department Store and SM Supermarket, as well as the Trade Hall, Foodcourt, two regular Cinemas, two Director’s Clubs and an IMAX Theater. It will also house a convention center that has three main function rooms and eight meeting rooms.

NBA Café is also making its first entry into the Philippines in this structure. SM Aura will also have Trattoria Chef Chris of the famed My Kitchen By Chef Chris at Paco Park, as well as well-known restaurant brands like Lugang Café and Yabu.

In cooperation with Manila Hotel, SM Aura also plans to bring in the Champagne Room at the terrace of SM Aura’s Sky Park, a favorite venue for elegant gatherings and celebrations.

Aside from the NBA Café, Boulangerie Paul, and Todd English Food Hall will be making their debut at SM Aura. To enhance the shopping experience, SM Aura will also provide a host of global brands opening in the Philippines for the first time such as Suiteblanco, Stefanel, Minelli, TM Lewin, J. Lindberg, B.B. Dakota and River Island for fashion.

“SM Prime, through SM Aura, has a remarkable opportunity to lead the shift to sustainability in buildings. SM Aura has set a higher standard with high performance technologies that use less energy, consume less water, and leave a smaller footprint on the city’s resources,” Sy said.



Enhanced by Zemanta

Stock News 2013: Metro Pacific joins MSCI Philippines index, replaces San Miguel

Deutsch: Logo Altes Pepsi Cola-Logo
Deutsch: Logo Altes Pepsi Cola-Logo (Photo credit: Wikipedia)

Infrastructure holding firm Metro Pacific Investments has joined the closely tracked MSCI Philippines index, replacing conglomerate San Miguel Corp. effective May 31 this year.

MSCI also realigned the MSCI Global Small Cap Indices, with five new companies joining the index, all of which are not part of the main-share Philippine Stock Exchange index: D&L Industries, EEI Corp., Pepsi-Cola Products Philippines Corp., RFM Corp. and San Miguel Purefoods.

Deleted from the small cap index were GT Capital Holdings, Megaworld Corp., Puregold Price Club, Robinsons Land Corp. and Security Bank Corp.

Any adjustment in a country’s weight could be attributed to the dynamics of prices, number of shares, movement in prices and free float factor of component companies. A cap of foreign ownership also has an impact of reducing maximum amount of shares that investors can buy.

As such, whenever the level of foreign ownership gets too close to the threshhold such that it’s impossible to buy new shares, MCSI mitigates the effect by cutting the weight of that company in the index.


Enhanced by Zemanta

Friday, May 3, 2013

Stock News 2013: Philweb says corner-store gaming format to thrive alongside integrated casinos

Casino logo
Casino logo (Photo credit: Wikipedia)

Philweb Corp on Tuesday said it plans to expand its online gaming business to at least six countries across the Asia Pacific this year, even as it shrugged off competition coming from new integrated casinos.

"Asia in general is booming. We are looking at Thailand, Myanmar, Palau, Nepal, Sri Lanka and Mongolia as new areas of opportunity," Dennis Valdes, Philweb president told reporters on the sidelines of the company's stockholders' meeting.

Valdes expects majority of Philweb's future revenues to come from operations abroad. At present, the company's Asia Pacific business contributes nine percent.

Philweb recorded consolidated revenues of P1.5 billion in 2012, up 27 percent year-on-year.  Its net income rose 20 percent to P1.1 billion last year.

Philweb operates scratch card businesses in Cambodia, Timor Leste and Indonesia, as well as a sweepstakes business in Guam.

For its domestic operations, Valdes is bullish about the company's outlook despite the opening of new casinos in Metro Manila.

"We found that the gamers are very different. You see in our track records or revenue that there has been no effect on e-games. The reason for that is the Resorts World Manila and Solaire are in a very small section of the entire country, which is the city of Manila and Paranaque, while e-games is in every island," he said.

Resorts World Manila is a stand-alone casino across from the Ninoy Aquino International Airport Terminal 3, while Solaire is one of four integrated casino complexes rising on reclaimed land along Manila Bay in what is known as Philippine Amusement and Gaming Corp's (Pagcor) Entertainment City.

"We are the 7-11 of gaming. It's your corner convenience store," Valdes said, referring to the convenience store chain.

http://www.interaksyon.com/business/58486/philweb-says-corner-store-gaming-format-to-thrive-alongside-integrated-casinos

Enhanced by Zemanta

Thursday, May 2, 2013

Stock News 2013: Ayala Land to take over Boulevard’s landbank

English: Map of Batangas showing the location ...
English: Map of Batangas showing the location of Nasugbu (Photo credit: Wikipedia)

Property giant Ayala Land Inc. is expanding its beachfront landbank for leisure estate development south of Metro Manila through a property deal with Boulevard Holdings Inc., owner of the Puerto Azul complex in Cavite.

In a disclosure to the Philippine Stock Exchange on Friday, ALI said it had agreed to acquire certain landholding assets of BHI, subject to due diligence.

In a separate disclosure, BHI said the company’s board had authorized the company’s chair and chief executive officer Jose Marcel Panlilio to sign the terms of reference with respect to an arrangement to “sell to a prospective buyer/investor, an operating unit and/or assets of BHI, wholly or in part.”

A final agreement with the new investor is targeted for signing on or before May 10. Panlilio was authorized to execute other separate agreements relating to “other areas of cooperation” as soon as definitive agreements are reached, the BHI disclosure said.

Later in the day, ALI disclosed that it was the “investor” referred to by BHI but no other details were available.

Asked how many hectares of property were involved, ALI executive vice president Bobby Dy said: “We have to go through due diligence to finalize areas.”

BHI has long been scouting for a new investor to unlock values out of its vast seaside landbank. Biz Buzz reported last Monday that ALI was in discussions involving BHI’s landbank such as the 3,000-hectare Puerto Azul complex in Ternate, Cavite.

This deal with BHI is widely believed to be a strategic move for ALI,  especially since rival SM group has already established its own beachfront leisure empire in the south with the 5,000-ha Hamilo Coast in neighboring Nasugbu, Batangas.


Enhanced by Zemanta

Wednesday, May 1, 2013

Stock News 2013: Union Bank profit jumps by 41%

English: A logo for the Union Bank of the Phil...
English: A logo for the Union Bank of the Philippines (Photo credit: Wikipedia)
Aboitiz-led Union Bank of the Philippines grew its first-quarter net profit by 40.8 percent year on year to P4 billion, the best quarterly bottom line in its history, mainly due to the double-digit expansion in trading gains and interest earnings.

The first-quarter performance translated to a return on equity of 29 percent. The bank also managed to hit early in the year nearly half of its P8.5-billion net profit goal for the full year, which means the bank would have to readjust targets, Union Bank president Victor Valdepeñas said in an interview.

“We thought we’ll grow by 15 percent this year but it now seems to be a conservative target given our first-quarter performance. As the market continues to be quite positive in terms of flow of funds, I will not be surprised if we’ll see our income growing by 20 percent,” he said. However, the bank would have to wait for the second -quarter results before overhauling its targets for 2013, he added.

Valdepeñas said the bank’s three-month results, which topped what was already a strong performance in the same period last year, could be attributed to stable margins, lower cost of funds, improved productivity and strong contribution from subsidiaries. The first-quarter results already included the contribution of newly acquired thrift bank City Savings.

Based on the bank’s regulatory filing, net interest income went up by 15.8 percent to P2.05 billion from year-ago level.

Valdepeñas estimated that margins had stabilized at more than 3.4 percent.

“While the yields have been under pressure, our cost of funding has gone down much slower,” Valdepeñas said.

The bank’s loan book declined to P98.13 billion from P115.17 billion a year ago. He said this was because certain loan accounts, particularly auto loans, had matured faster than the bank’s new bookings of this type of loans. He said the bank was rationalizing its auto lending business while the credit card segment remained flat as Union Bank had become very “selective.”

“When demand from household continues to increase, we have to be wary,” he said. “Nonetheless, we’re still pushing that because I think consumer financing will grow faster than corporate loans. Corporations can now go directly to the public and raise equity given very good prices and the very good environment.”

For the full year, Union Bank aims to grow its loan book by 15 to 20 percent, Valdepeñas said.

http://business.inquirer.net/119189/union-bank-profit-jumps-by-41

Enhanced by Zemanta