Stock News 2013: First Pacific keen on Angat plant

Photo of Manny (Photo credit: Wikipedia)

Hong Kong-based First Pacific Co. Ltd., headed by businessman Manuel V. Pangilinan, confirmed that it was in talks with Korea Water Resources Corp. on a potential partnership involving the 246-megawatt (MW) Angat hydropower plant in Bulacan.

Pangilinan, who serves as managing director of First Pacific, said his group had spoken with officials of Korea Water.

“We visited Daejeon in Korea,” Pangilinan said on Friday, referring to the South Korean company’s headquarters. “They have not made a decision on which group to partner with.”

First Pacific is an investment holding firm controlled by Indonesia’s Salim family and whose investments are mainly located in the Philippines. Through local units, it has a controlling stake in Maynilad Water Services Inc., which supplies water to the west zone of Metro Manila and nearby provinces, and a 48-percent stake in Manila Electric Co., the country’s biggest electricity retailer.

First Pacific was among the interested groups when the Angat hydroelectric plant was auctioned in 2010.

At the time, it had partnered with rival Ayala Corp., which owns the Philippine capital’s east zone concessionaire Manila Water Corp., as well as the Lopez group in a joint bid against other players like San Miguel Corp., Consunji-led DMCI and the Aboitiz Group.

The state-run Power Sector Assets and Liabilities Management Corp. (PSALM) eventually announced that Korea Water submitted the highest bid of $440.8 million.

In May 2010, however, the Supreme Court issued a “status quo ante order” effectively blocking the planned privatization of Angat Dam’s hydroelectric power plant.

The high court only last year rendered as valid and legal the sale of the Angat power plant to Korea Water. But the plant has yet to be turned over as the government and Korea Water finalize certain details under a so-called water protocol.

http://business.inquirer.net/127479/first-pacific-keen-on-angat-plant

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Stock News 2012: Cityland unveils Pines Peak residential condo in Mandaluyong

Mandaluyong city (Photo credit: Wikipedia)
Cityland Development Corp. (CDL), a member of the Cityland Group of Companies, has unveiled its newest project, the 27-story medium-sized residential condominium Pines Peak, in Mandaluyong City.

In a disclosure to the Philippine Stock Exchange, CDC said Pines Peak, which will rise along the corner of Union and Pines streets in Mandaluyong, is targeted towards the fast-paced Filipino family.

Pines Peak will have more than 1,000 units with sizes ranging from 16 square meters to 40 square meters. Each floor may house 50 units.

A studio unit may sell for around P1.2 million while one-bedroom units may be priced at around P1.5 million each. Two-bedroom units may be sold at P2.1 million to P3.1 million each.

Amenities include a swimming pool, multi-purpose function room with movable playset, viewing deck and 24/7 security.

CDC said friendly and flexible payment terms are available to interested buyers. Special discounts will also be given for the early buyers during the project’s launch.

The Cityland Group is a trusted name in the real estate industry given its track record of developing condominiums. It has been in the real property development business for over 25 years.

Aside from CDC, the group has two other units – City and Land Developers (CLD) and Cityland Developers.

CDC was formed in 1978 to engage in the development of land for residential, office, commercial, institutional and industrial uses. The company’s projects include medium to high-rise offices, commercial and residential condominiums located in Makati, Mandaluyong and Ortigas in Pasig, and farmlots in Bulacan and Cavite. – Zinnia dela Peña

CLD, on the other hand, caters to the low-to-middle income segments since its projects are offered at affordable prices. It developed residential units in Paranaque as well as an office and residential condominium project in Ortigas Center.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=828527

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Stock News 2012: Robinsons Land to build 2nd mall in Bulacan

View of shopping small front from an angle. (Photo credit: Wikipedia)
Robinsons Land Corp. (RLC), the property development arm of JG Summit Holdings Inc., is further expanding its presence in the northern part of the country with the construction of a shopping mall in Malolos, Bulacan.

RLC Commercial Centers Division general manager Arlene Magtibay said the four-level Malolos mall, which will rise on a 2.6-hectare lot along MacArthur Highway, will be the group’s 33rd mall and its second in the province of Bulacan.

The planned commercial center will have a gross leasable space of 44,562 square meters and parking area totaling 22,776 sqm or 535 slots.

This will be in addition to the group’s six existing malls in northern Luzon, namely Robinsons Starmills Pampanga, Robinsons Place Angeles, Robinsons Luisita, Robinsons Pulilan, Robinsons Cabanatuan and Robinsons Place Calasiao.

Aside from its rich historical and cultural heritage, the city of Malolos is rapidly becoming industrialized due to its proximity to Metro Manila. Many corporations have put up production facilities as well as commercial outlets in key places in the city.

The Malolos mall will be home to 200 tenants and four cinemas with a seating capacity of 276.

RLC is aggressively expanding its retail portfolio over the next two years to boost its total mall leasable area to a little over one million square meters.

The group is building seven new shopping malls and expanding three of 29 existing malls in 2012-2013 to take advantage of the expected surge in consumer spending and a booming business process outsourcing industry. Of the seven, three will be built this year while the other four will rise in 2013.

RLC recently completed two mall expansion projects in Tacloban and Bacolod in the Visayas.

http://www.philstar.com/Article.aspx?articleId=817220&publicationSubCategoryId=66

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Stock News 2012: Puregold acquires Parco Supermarket

Puregold San Mateo (Photo credit: Wikipedia)
Listed supermarket chain operator Puregold Price Club Inc. has added Parco Supermarket to its growing retail portfolio.

In a disclosure to be Philippine Stock Exchange, Puregold said the acquisition will further expand its foothold in the C and D market segment.

“Puregold Price Club Inc., through the resolution issued by its Executive Committee on May 25, acquired 519,111 shares or the whole outstanding capital stock of Gant Group of Companies Inc.,” the company said.

Gant Group is the owner and operator of 19 branches of Parco Supermarket, which includes Pasig, Quezon City, Caloocan, Taytay in Rizal province and Meycauayan in Bulacan.

The shares were purchased from the Ong family, particularly from Dolores Ong, Patrick Richard Ong, Katrina Cindy Ong, Genevieve Mae Ong and Margaret Brigitte Ong. Puregold did not disclose the purchase price.

“Upon takeover, the stores will use the Parco brand,” Aida B. de Guzman, vice-president for marketing and business development of Puregold, said in a text message.

“With the Parco acquisition, our market coverage will expand, as Parco was able to establish loyal customer base of both C and D customers and resellers in the areas where they operate over the 29 years that they have been operating,” De Guzman said.

In April, Puregold completed its acquisition of upscale S&R Membership Shopping Club through a P16.5-billion share swap.

http://www.philstar.com/Article.aspx?articleId=811778&publicationSubCategoryId=66

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

Image via Wikipedia
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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