Stock News 2012: Vista Land ties up with Puregold

Official seal of Antipolo (Photo credit: Wikipedia)
Villar-led home builder Vista Land & Lifescapes, Inc., signed two long-term lease agreements with Puregold Price Club Inc., which will be the anchore store in its master-planned community projects in San Fernando, Pampanga and Antipolo City, Rizal.

In a statement, Vista Land said these agreements form part of a long-term partnership established between the two parties. Businessman Lucio Co’s Puregold currently operates a highly successful supermarket in Vista Land’s 60-hectare Lakefront Development in Sucat, Muntinlupa City.

Manuel Paolo Villar, chief executive officer of Vista Land, said, “We have had a mutually beneficial relationship with Puregold and we are extremely grateful that they have agreed to partner with us. Our company looks forward to strengthening our alliance with Puregold and we will certainly continue to seek opportunities to work with Puregold on other ventures around the country,” he said.

According to Vista Land’s head of commercial operations Ma. Leni Damasco-Luya, the community malls would be located in front of established Vista Land communities in densely populated areas surrounding Mille Luce in Antipolo, Rizal and Andalusia in San Fernando, Pampanga.

Merchants in these areas would cater to the basic needs of an existing broad and underserved market. The spaces would be premium spaces, with lots of greens and fronting the parking lot, convenient access and flexible mall hours.

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Stock News 2010: FELI turns around with P2.63-million profit in 9 months

Image via WikipediaMANILA, Philippines - Sobrepeña-led Fil-Estate Land Inc. (FELI) posted a net income of P2.63 million in the nine months ending June this year, a reversal of the P73.12-million loss incurred in the same period a year ago.
In a financial report filed with securities regulators, FELI said the turnaround was a result of the reduction of costs and expenses despite a drop in revenue. The net income translated to earnings per share of P.0011 as against a loss per share of P.02183 last year.
Cost and expenses dropped 28.5 percent from P549.47 million to P392.82 million.
Revenues amounted to P392.9 million from October 2009 to June 2010, down 16.7 percent from P471.49 million the previous period.
Sales of real estate and golf club and resort shares reached P136 million, coming from the sale of condominium units in Sto. Domingo, Quezon City; condotel units and forest cabins in Camp John Hay, Baguio City; residential subdivision lots in Manila Southwoods in Cavite; Forest Hills in Antipolo City; Riverina in San Pablo City; Goldridge Estate in Guiguinto, Bulacan; Puerto Del Mar in Lucena City; Plaridel Heights in Bulacan; Holiday Homes in Gen. Trias; Cavite City; Bentley Park in Antipolo City; Monte Cielo De Naga in Bicol; Puerto Real De Iloilo in Iloilo City; and golf club and resort shares in Fairways and Bluewaters in Boracay.
As of end-June this year, FELI had total assets of is P14.88 billion. But cash and cash equivalents decreased 58 percent to P81 million as funds were utilized for operations.
FELI is primarily engaged in the horizontal development of residential subdivision lots, integrated residential, golf and other leisure-related properties, and vertical development of mixed use complexes.
Zinnia B. Dela Peña
August 24, 2010
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