Investing Stocks in Philippines: Taguig City

Showing posts with label Taguig City. Show all posts

Tuesday, June 19, 2012

Stock News 2012: After 3 failed bids, gov't to try and sell FTI anew

Official seal of City of Taguig (Photo credit: Wikipedia)
After three years of delay and three failed biddings, the government will attempt to sell again the sprawling Food Terminal Inc. (FTI) property in Taguig City, the Privatization Management Office (PMO) said yesterday.

PMO Chief Karen Singson said the government intends to publish the invitation to bid by next week as she urged interested parties to place their bets.

“Everyone is invited to bid for the parcel. This is a straightforward property sale. Other parameters such as the minimum target selling price and prequalification requirements will be detailed at the bidding notice to be published on national newspapers,” she said.

The 103-hectare FTI agro-industrial complex is one the largest industrial complexes in Metro Manila and is currently home to more than 300 companies.

It provides industrial and commercial lots for medium-to-long term leases, and industrial buildings with standard-sized stalls for office, warehouse or small-scale processing operations.

Of the 103-hectare property, the government will bid out 74 hectares, Singson said.

The government will retain the rest of the property for various purposes.

“The government will study its options for the unprivatized special economic zone area located within the FTI complex, including the utilization of the same by the Department of Agriculture for food-sufficiency projects,” Singson said.

According to the PMO, part of the proceeds will go the Department of Agrarian Reform for the Comprehensive Agrarian Reform Program and to the Department of Agriculture.

With the sale, the government expects economic activities in Taguig City and nearby areas to flourish as employment increases and transport linkages in the complex improves.

The Aquino administration hopes to sell the property at a price higher than the P7 to P9-billion tab set by the previous government for the agro-industrial estate.

Robinson’s Land has expressed interest in the property and so has the Ayala Group and Henry Sy’s SM Development Corp.

http://www.philstar.com/Article.aspx?articleId=818600&publicationSubCategoryId=

Saturday, January 15, 2011

Stock News 2011: RLC makes bid for FTI property

Image via Wikipedia
Robinsons Land Corporation (RLC) has submitted an unsolicited proposal to the government for the acquisition of a 103 hectare property in Taguig City that is part of the Food Terminal Inc. (FTI) complex.

Sources said the proposal was submitted earlier this week and covers 103 or 120 hectare property of FTI in Taguig. The remaining 17 hectares of the property is already owned by the National Food Authority.

Of the 103 hectare lot, 24 hectares have been declared a special economic zone, with some parcels still subject of long-term contracts – between the Philippine Economic Zone Authority and locator firms – that would be honored even after privatization, while 79 hectares of the FTI complex are free for development.

http://www.mb.com.ph/node/298581/rlc-make

Sunday, December 5, 2010

Stock News 2010: Bayan Business 'Arrives' at Fort Bonifacio Global City

Image via Wikipedia
Bayan Business, the corporate and business solutions arm of Bayan Telecommunications Inc., recently held a promotional event to showcase its wide array of services and solution offerings that are available for business enterprises at the thriving Fort Bonifacio Global City in Taguig.

Bayan in cooperation with inContact, presented at the launch the different product and services that prospective customers located in the area can subscribe to and avail of in order to sustain and help grow their businesses.

Representatives from 25 companies attended the product presentation last November 11 held at Murray’s New Orleans. Among those present were executives from B&M Global Services Manila, Dev’t Finance International, Inc., Cormant Technologies, Ericsson, Digital Media Exchange, Fujitsu, FPD Asia, Sony Phils., Inc., GN Solutions, Wrigley Philippines, Deutsche Knowledge Services, Jones Lang LaSalle and the Call Center Association of the Philippines (CCAP).

The program, which started off with a hearty lunch, was followed by a presentation on Bayan Business’ data transport, IP and managed service offerings.

Jon Arayata, Bayan Business Head, said Bayan is committed to providing the most reliable data services and connectivity for businesses and potential locators in Fort Bonifacio.

“High availability and reliability is our commitment to the quality of service from Bayan that our customers need and expect for their business grade services requirements,” Arayata said.

During the last two quarters of 2010, Bayan has installed three new POP (point-of-presence) builds in the Fort Bonifacio Global City in order to expand Bayan’s serviceable areas.

In the coming months (4th quarter 2010 and 1st quarter 2011), more POP builds will ready for service in the same area.

http://www.mb.com.ph/node/291122/bayan-bu

Thursday, September 9, 2010

Stock News 2010: SMDC eyes P5 billion from rights offer

Image via Wikipedia

MANILA, Philippines - SM Development Corp. (SMDC), the residential property arm of retail tycoon Henry Sy’s listed holding firm SM Investments Corp., will undertake a stock rights offering to shareholders to raise at least P5 billion.

In a disclosure to the Philippine Stock Exchange, SMDC said its board approved the issuance of 1.83 billion new shares to beef up its landbank and fund its projects.

Shareholders can avail of one right for every three shares held as of a record date yet to be set by the company.

SMDC stocks closed at P7.26 each yesterday, slightly lower from Tuesday’s close of P7.30.

SMDC is planning to acquire properties in Cebu and Davao to tap a wider clientele base, particularly overseas Filipino workers (OFWs).

Its affiliate, SM Land, has offered nearly P48 billion to develop a 33.1-hectare lot south of Fort Bonifacio in Taguig City into a mixed-use complex. Under the government’s joint venture rules for such Swiss challenges, SMLI will bag the contract if it can match the highest counter-offer.

The property is composed of lands presently occupied in part by the Army Support Command (ASCom) and Special Services Unit (SSU) and in part by the Bonifacio Naval Station and Philippine Marine Corps of the Philippine Navy.

Under the Bonifacio South master plan for the lot, the area would be developed into a medium- to high-density residential and mixed use complex with a strong institutional component, and has a maximum allowable gross floor area of 1.355 million square meters.

Last May, SMDC raised P10 billion from the issuance of corporate notes, which was more than three times oversubscribed by domestic institutional investors.

In the first half of the year, SMDC said its net earnings rose 24 percent to P1.3 billion on higher sales from its condominium projects. Revenues jumped 77 percent to P4.1 billion while net recurring income from real estate operations grew 47 percent to P1.1 billion.

SMDC raised P12.4 billion from pre-selling activities during the period, mainly coming from the Princeton, Light, Jazz, Sun and Wind projects under the SM Residences brand.

As of end-June this year, SMDC had 13 residential projects in the market. The company launched its affordable housing brand, My Place, with its pilot project in South Triangle on Panay Avenue in Quezon City.

The new project, My Place South Triangle, involves four condominium towers offering a total of 3,000 units with sizes ranging from 20 sqm to 40 sqm. Slated for completion in the first half of 2013, the project is estimated to cost around P2 billion.

Donnabelle L. Gatdula

September 9, 2010

http://www.philstar.com/Article.aspx?articleId=610232&publicationSubCategoryId=66

Tuesday, July 20, 2010

Stock News 2010: Ayala to invest P10B in Bonifacio development

Image via WikipediaAYALA Land Inc. (ALI) is bullish on its Bonifacio Global City project in Taguig, baring on Tuesday a plan to pour in as much P10 billion worth of projects over the next two to three years in the budding central building district.
In a press briefing, Ayala Land president Antonino T. Aquino said the bulk of the investment will be used to expand the company’s residential, office and retail presence within the Serendra and Bonifacio High Street area.
Aquino said the company is expecting to add between 30,000 square meters (sqm) to 35,000 sqm of retail and office spaces along the kilometer-long Bonifacio High Street which, in turn, will support the Serendra residential community.
“The office component completes the development. It will make the residential [developments] very real,” the company official told reporters yesterday.
Other projects in the pipeline include the new headquarters for sister-company Globe Telecom and the Mind Museum at the end of Bonifacio High Street. The developer also plans to launch within the year its first boutique-style hotel catering to businessmen.
Aquino expects Ayala Land’s products targeting the upper income market—along with the rest of the company’s brands—to continue to do well this year.
High-end brand Ayala Land Premier (ALP) accounts for 40 percent of the company’s residential sales, which last year amounted to P26.84 billion.
“Demand for Ayala Premier products have already tripled so far,” Aquino said.
From an investment perspective, valuations in Serendra have risen at least 50 percent from P90,000 per sqm in 2004, he said. In addition, the rental yield is pegged at between 8 percent to 11 percent per annum.
For this reason, ALP yesterday launched the P4-billion high-rise condominium project called West Tower to rise within the-five hectare One Serendra.
The project, a followup to the East Tower launched in 2008, will offer a total of 372 units with prices starting from P8.5 million. Turnover is scheduled on 2015.
Rex Mendoza, ALI senior vice president of corporate sales and marketing, said the developer has already noticed strong demand for the project. A preselling event will be held this Sunday for West Tower.
Miguel R. Camus
July 20, 2010 20:17
http://www.businessmirror.com.ph/index.php?option=com_content&view=article&id=27931:ayala-to-invest-p10b-in-bonifacio-development&catid=24:companies&Itemid=59