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

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

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Stock News 2012: San Miguel property unit to launch 5 projects

Official Seal of Municipality of Silang,Cavite Philippines Tagalog: Opisyal na Sagisag ng Bayan ng Silang, Cavite Pilipinas (Photo credit: Wikipedia)
The property arm of diversified conglomerate San Miguel Corp. (SMC) will launch five residential projects this year requiring P7.7 billion in investments.

San Miguel Properties Inc. (SMPI) wants to take advantage of the company’s idle assets and sell out existing projects, company officials said.

“We will be launching three premiere townhouse developments in Mandaluyong and Pasig and two high-rise condominium projects in Makati and San Juan,” said Karlo Marco P. Estavillo, general manager of SMPI.

He said construction cost is P4 billion for the Makati project, P3.3 billion for San Juan and P400 million for three townhouse projects.

Estavillo said the condominium units will be completed in three to five years while the townhouse project is scheduled for completion in 18-20 months.

“We wanted to maximize the value of prime properties we have instead of them being idle,” said SMPI sales manager Karen V. Ramos.

Last year, the property firm launched just one project as it focused on planning for new developments, she said.

The Makati high-rise project will be composed of three 37-story towers with a total of 1,300 units worth up to P3.5 million each. The 18-story San Juan project will consist of 300 units for the middle to high-income segment.

The three townhouse projects will feature 12 to 20 units worth between P8 million to P12 million each.

“These are pocket developments located in prime areas. We are now venturing into townhouse, which is an additional segment in addition to our vertical developments,” Ramos said.

SMPI also plans to sell all remaining inventory in its projects in Gen. Trias in Cavite. Specifically, these projects are upper-middle income projects Maravilla and Asian Leaf, and affordable housing development Bel Aldea.

“As we sell down the remaining inventory in Cavite, the company is getting ready to offer fresh inventory in response to the growing demand for near-city and city-center dwellings,” Estavillo said.

To date, SMPI is building a 29-story serviced apartment in Greenbelt area in Makati. The project will be completed in 2014.

Completed residential developments include low-income subdivisions Buenavista Homes in Cebu and Villa de Calamba in Laguna; middle-income subdivision Primavera Hills in Cebu, Legacy in Parañaque City and Maravilla and Bel-Aldea in Gen. Trias; and high-end subdivision Wedge Woods in Silang, Cavite.

Last year, SMPI’s profits slumped to P86.89 million from P717 million a year ago on the absence of one-time gains from the sale of several properties.

Revenues rose 43 percent to P844.43 million given improved offtake in residential development and record reservation sales.

http://www.philstar.com/Article.aspx?articleId=805345&publicationSubCategoryId=66

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Stock News 2012: Century Properties forges jv for 142-ha Batangas

Seal of Makati City, Philippines (Photo credit: Wikipedia)
In a disclosure to the stock exchange yesterday, Century Properties said its wholly-owned unit Century Communities Corp. has signed an agreement with Group Developers Inc., Caylaway Development Corp. and Batulao Bio-loop Farms Inc. to develop a tourism-oriented project catering to both the local and foreign markets.

Century Properties did not disclose other details but nevertheless committed to report any relevant and material information on developments regarding the joint venture.

The project marks Century Properties’ entry into the tourism-related business, seen as the next big thing in the Philippines, especially with the government putting great effort in promoting the industry.

Bullish on the property sector, Century Properties has earmarked up to P8.3 billion for its capital expenditures this year, more than twice the P2.6 billion spent in 2011.

Century Properties is accelerating the development of new and existing projects within its four master-planned developments, namely Century City in Makati City, Canyon Ranch in Cavite, Azure Urban Residences in Parañaque City and Acqua Residences in Mandaluyong City.

These new developments, when completed, will make available 23 condominium buildings with 15,703 condominium and office units and 955 single-detached homes, with a gross floor area of 1.18 million square meters.

Century Properties, through subsidiary Century Limitless Inc., is also developing a P4.8- billion mid-rise condominium, located on a 4.4-hectare lot along Commonwealth Ave. The project will comprise a total of 2,000 affordable housing units.

The group had pre-sold P18.8 billion worth of residential units last year, more than double the P8 billion recorded in 2010. On a unit basis, it pre-sold 5,367 units in 2011, more than twice the 2,325 units sold a year earlier.

Century Properties is the developer of the posh Essensa East Forbes in Fort Bonifacio and the Pacific Star building.   Its portfolio also includes the country’s first fully-fitted and fully-furnished condominium South of Market (SOMA) in Fort Bonifacio, SOHO Central in the Greenfield district of Mandaluyong City, Pacific Place in Ortigas, and a collection of French-inspired condominiums in Makati City called Le Triomphe, Le Domaine and Le Metropole.

http://www.philstar.com/Article.aspx?articleId=775284&publicationSubCategoryId=66

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Stock News 2011: DMCI bags P9.34-B construction projects from Razon, SMC

Image via Wikipedia
DM Consunji Inc., the construction arm of DMCI Holdings, has secured contracts for office, residential and hotel-casino projects worth P9.34 billion.

In a disclosure to the Philippine Stock Exchange, the firm said it has been contracted to build the P8.59 billion Entertainment City project, the P625-million Makati Diamond Residences, and the P117-million One Network Bank Headquarters.

The Entertainment City project is owned by Sureste Properties Inc. in joint venture with Bloomberry Hotel and Resorts Inc. and will take about 22 months to complete. It is located at the Philippine Amusement and Gaming Corporation’s Bagong Nayong Pilipino Entertainment City in Parañaque.

It will be an 11-storey hotel with a three-level entertainment podium, and 10-level parking garage building. The project will have a covered floor area of about 180,000 square meters.

Makati Diamond Residences is owned by San Miguel Properties Inc. and will take 26 months to complete. It will be residential condominium with 28 floors and four basement levels in Legaspi Village, Makati.

The One Network Bank headquarters will be a five level banking building in Sasa, Davao City and will take 12 months to build.

http://www.mb.com.ph/node/306028/dmci-bag