Stock News 2013: P10B project in Lapu-Lapu

The departure hall of Mactan Cebu International Airport on Mactan Island. (Photo credit: Wikipedia)

Megaworld Corp., one the country’s biggest property developers led by tycoon Andrew Tan, is creating its first ever masterplanned township project in the Queen City of the South that is Cebu, as it targets to provide an unrivalled lifestyle of luxury and convenience in the Visayas.

Located in Lapu-Lapu City, the 16-hectare Mactan Newtown is set to replicate what Megaworld has created in Eastwood City and its other townships within the metropolis, according to Noli Hernandez, president of Megaworld Cebu Properties Inc.

Rising in the middle of Cebu’s hottest tourist destination, this live-work-play township is envisioned to provide a consummate lifestyle in which people need not venture out for work, leisure or recreation.

It has recently officially opened for business with the grand opening of the biggest McDonald’s outlet in Central Visayas. Once completed, the Mactan Newtown will boast a masterful mix of residential enclaves, office towers, commercial establishments and recreational facilities.

THE 16-HECTARE Mactan Newtown is set to replicate Megaworld’s previous township developments in Metro Manila.

“At Mactan Newtown, we will be giving the Cebuanos more time for things that really matter and allow them to live more fulfilling lives. This vision sprang from the simple recognition of the need for more intelligent communities that actually work, and it’s a vision that has been translated so far to Megaworld’s other phenomenally successful townships in Metro Manila,” Hernandez explains.

“Megaworld has been known for its previous masterpieces in Manila such as Eastwood City, The McKinley Hill and Newport City. As in these other developments, local and foreign investors can expect nothing less than a solid and steady appreciation of property values, given the synergies that can only be created when world-class components of living, working and playing are put together,” he further says.

According to Hernandez, future residents of the P10-billion development can “look forward to a unique lifestyle that is both dynamic and laidback, luxurious but accessible, visionary but real and tangible.”

He stresses that buying a unit at The Mactan Newtown is not simply about acquiring a dwelling place, but rather about becoming part of a community.

MANGO Trees line the Mactan Newtown’s wide pedestrian lanes.

“[It is] where even the smallest studio unit provides access to a full suite of recreational facilities, from a fully-equipped gym, a 20-meter lap pool, an aqua gym, a rock-climbing wall, a tennis court, an indoor spa, culinary station and a function room, not to mention an ultra modern hotel-like lobby,” Hernandez notes.

The township’s proximity to various resorts and the availability of water sports activities, Hernandez adds, also highlights the uniqueness of the community. And if these weren’t enough, stepping out of one’s residential tower also means being served a feast of various international dining and shopping options located within the township.

http://business.inquirer.net/105519/p10b-project-in-lapu-lapu-to-change-cebu

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Stock News 2012: 50 new McDonald's branche

English: The mdonalds logo from the late 90s (Photo credit: Wikipedia)The master franchise holder of McDonald’s in the Philippines expects as much as 50 new branches this year to take advantage of robust economic growth.

The rapid pace of growth will continue for the next three to five years, an executive said.

“We are very excited, we continue to grow. This year we can grow 40 to 50 stores all over the country,” Kenneth S. Yang, president and CEO of master franchise holder Golden Arches Development Corp., said in a chance interview.

This will allow the company to end the year with a record 370 stores nationwide.

Yang said the expansion is 50 percent more than the company did last year, on top of the store renovations.

“Definitely the economy is very strong and I think the growth of the business process outsourcing industry is helping a lot and the overseas remittances continue to be there,” Yang said. “Consumer spending is still very strong so I think,” he added.

The local economy surged 6.4 percent in the first quarter due to government and private sector spending while January to May remittances climbed 5.5 percent to $9.26 billion from a year ago.

Given the strong fundamentals, Yang said the company is maintaining its bullishness and the rapid expansion pace in the next three to five years.

New branches will be driven by a mix of company-owned stores and by franchising. “Our thrust for franchising is outside Manila, on provincial areas,” Yang said.

McDonald’s is also tapping tourist destinations like Palawan, Bohol and Boracay, Yang said.

Benchmark investment for a new branch is around P40 million, with McDonald’s targeting businessmen, professionals and retirees as its franchising partners.

The first branch of the quick service restaurant chain opened in Morayta, Manila back in 1981.

Meanwhile, profitability of McDonald’s is cut by higher operating costs.

“The challenge is really the cost of operating the business. Costs are increasing like commodity and electricity. It is very hard to keep our profitability at the same level so we try to be more efficient,” Yang said.

http://www.philstar.com/Article.aspx?articleId=835037&publicationSubCategoryId=66

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Stock News 2012: Alliance Global posts record P11.6-B profit

Casino logo (Photo credit: Wikipedia)
Alliance Global Group Inc. (AGI), the listed holding firm of real estate tycoon Andrew Tan, jacked up its net income by 68 percent last year to a record P11.6 billion on robust growth of its property business.

In a financial report submitted to the Philippine Stock Exchange, AGI said revenues hit an all-time high of P66.1 billion or an increase of 48.5 percent from the year before.

AGI chief financial officer Dina Inting said the company booked a non-recurring gain of P3.1 billion from the acquisition of a subsidiary during the period. The recurring portion alone translated into a 22 percent year-on-year profit growth.

As of end-December 2011, AGI’s total cash and cash resources stood at P49 billion.

Property arm Megaworld Corp. chipped in P28.6 billion or 40 percent of AGI’s total revenues. The amount is 39 percent higher than the 2010 level.

As a result, Megaworld reported a 60 percent growth in net income to P8.15 billion, boosted by a non- recurring gain of P2 billion from the sale of AGI shares of stock. Without this, its profit is still up 21 percent year on year.

Megaworld’s performance was backed by strong sales from its residential projects in Newport City, McKinley West and McKinley Hill, Eastwood City as well as strong leasing income from its BPO and retail portfolio.

Revenues and profits from the food and beverage, quick services restaurants and integrated tourism businesses likewise grew in line with targets, AGI said.

Food and beverage arm Emperador Distillers produces Emperador, Generoso and Emperador Light brandies and a line of flavored alcoholic beverages called The Bar.

Golden Arches Development Corp. operates the quick service restaurant business under the McDonald’s brand while Travellers International Hotel Group, a joint venture with Genting Hong Kong, operates Resorts World Manila, the first integrated tourism estate in the country.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=801327

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International News 2010: Burger King 4Q net income falls 17 pct; sales slip

Image via WikipediaBurger King earns $49M in 4Q, down 17 pct; lower sales, higher ingredient costs take toll
MIAMI (AP) -- Burger King Holdings Inc.'s fourth-quarter net income fell nearly 17 percent as sales slipped and costs for ingredients and packaging climbed.
The fast-food restaurant said Tuesday that it earned $49 million, or 36 cents per share during the period that ended in late June. That compares to last year's net income of $58.9 million, or 43 cents per share.
The company also got a smaller tax benefit than last year.
Revenue slipped 1 percent to $623 million.
The earnings beat Wall Street forecasts, but revenue fell short. Analysts surveyed by Thomson Reuters expected the company to earn 34 cents per share with revenue of $635 million.
Sales at restaurants open at least a year slid for the fifth consecutive quarter. That key indicator of a restaurant chain's performance excludes growth at stores that open or close during the year. The measure fell 0.7 percent around the globe and 1.5 percent in the U.S. and Canada.
While the declines weren't as steep as those recorded in previous quarters, Burger King continued to lag its bigger competitor, McDonald's Corp.
Burger King has been particularly vexed by the economic downturn as layoffs and a high unemployment rate hurt its core demographic of young men. Its tried to compensate by expanding its menu with items that appeal to both budget-conscious customers and those willing to spend more.
And Tuesday, the company said that effort is showing some success as customers in North America bought its $1 menu items like a breakfast muffin and a double cheeseburger. But customers also gravitated toward some more expensive dishes too, like the company's breakfast bowl, Whiplash Whopper and ribs.
For the full year, Burger King earned $186.8 million, or $1.36 per share. That's down 7 percent from last year's net income of $ 200.1 million, or $1.46 per share.
Full-year revenue slipped 1 percent to $2.50 billion, down from $2.54 billion.
"In fiscal year 2010, we faced sustained levels of high unemployment and a fragile global economy that combined made this one of the toughest operating environments in recent history," Chairman and CEO John Chidsey said in a statement.
Burger King is based in Miami and has more than 12,000 restaurants around the globe.
Its shares climbed 38 cents, or 2.3 percent, to $17 in pre-market trading Tuesday.
http://finance.yahoo.com/news/Burger-King-4Q-net-income-apf-3616881703.html?x=0

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