Investing Stocks in Philippines: cambodia

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Thursday, August 9, 2012

Stock News 2012: PhilWeb to invest P100 million

LAS VEGAS, NV - MAY 21: A detail shot from a new 'The Hangover' slot machine by International Game Technology at the Las Vegas premiere of the Warner Bros. Pictures movie, 'The Hangover Part II' at the Planet Hollywood Resort & Casino May 21, 2011 in Las Vegas, Nevada. The film opens nationwide in the United States on May 26. (Image credit: Getty Images via @daylife)Listed gaming solutions provider PhilWeb Corp. is investing as much as P100 million in a new company that will manufacture gaming terminals for its local network of 262 e-Games cafes and its various international businesses.

In a statement, Philweb president Dennis Valdes said the company is gearing up to compete in the booming market for these devices worldwide through PhilWeb Gaming Solutions Corp. (PGSC).

The gaming terminals will allow PhilWeb to offer a device that tightly integrates all its gaming software, while improving security and functionality in the gaming experience.

PGSC will be headed by Joe Pisano, who has been in the gaming industry for several decades and was recently named one of the Top 50 most influential persons in the gaming industry by Inside Asian Gaming magazine.

Pisano is also president of Jade Entertainment and Gaming Inc., a regional distributor for the world’s leading manufacturers of equipment used in the gaming industry, like IGT, Novomatic, FutureLogic, Crane and others.

“Pisano has been a friend for many years and his regional experience will prove invaluable as we grow in Asia Pacific. I’m very bullish on our new venture, as this device will significantly improve the gaming experience for our over 40,000 customers per day, who play on our e-Games network of close to 6,000 terminals,” Valdes said.

Valdes said Guam, Timor Leste, Cambodia, Laos and other countries where the company has extended its business activities are also expected to benefit from this venture.

“The market for these devices goes beyond just PhilWeb’s own businesses but into the realm of consumers worldwide. We can make these devices cheaper and better in the Philippines,” Valdes pointed out.

For his part, Pisano said: “I am pleased to start a new venture with PhilWeb, as their spectacular growth over the past years has shown that they are the right partner in Asia Pacific. These devices will be an excellent new business for the entire company in the coming years.”

This new venture is also expected to boost Philweb’s cashflow. In the first half of the year, PhilWeb grew its net income by 30 percent to P480 million as revenues rose 24 percent to P692 million.

Philweb earlier said it was targeting to hit at least P2 billion in profits this year or more than double the P940 million recorded in 2011, mainly driven by robust sales of sweepstakes scratch cards and the sustained growth in revenue from its “Pegs” or Philippine Amusement and Gaming Corp. (Pagcor) Internet gaming cafes.

http://www.philstar.com/Article.aspx?articleId=835036&publicationSubCategoryId=66

Thursday, February 16, 2012

Stock News 2012: PhilWeb posts record profit in 2011

PhilWeb Corp., the country’s first and largest listed online technology firm, reported a record net income of P914 million last year, 45 percent higher than the previous year’s level, on the back of strong growth in its core e-Games Cafe business as well as new businesses in Asia Pacific.

PhilWeb president Dennis Valdes noted that this marked the sixth consecutive year of income growth and that they are now just shy of cracking the billion-peso mark in earnings.

He also noted that this performance had been recognized by Forbes Asia magazine which included PhilWeb in its 2011 Best Under a Billion list, the publication’s annual listing of the 200 best performing publicly-listed companies in Asia Pacific with sales under $1 billion.

Additionally, PhilWeb was one of only three companies to garner an additional special award, as the Most Profitable Company, among those that made the list. This is the second year in a row that PhilWeb has been recognized for both awards by Forbes Asia. PhilWeb’s net income represents a profit margin of 60 percent as measured against its revenues of P1.2 billion.

Valdes noted that PhilWeb is now one of the most significant revenue contributors to state-run gaming agency Philippine Arrangement Gaming Corp. (Pagcor). Last year, PhilWeb remitted a total of P1.7 billion to the agency, 34 percent more than in 2010. This amount comes without a single centavo of capital expenditure or operating expense on Pagcor’s part, and therefore flows directly to its bottom line.

The real excitement in PhilWeb, Valdes said, comes from their new endeavors in Asia Pacific. These include The Sweeps Center, a cafe in Guam, and scratch cards businesses in Timor Leste and Cambodia. “We are also hopeful to gain new licenses in other Asia Pacific countries this year,” he said.

PhilWeb declared dividends twice in 2011, doubling the amount that was paid out in the previous year. Valdes said that the company fully expects to continue declaring dividends in 2012 and beyond.

http://www.philstar.com/Article.aspx?articleId=777957&publicationSubCategoryId=66

Wednesday, July 14, 2010

Stock News 2010: PhilWeb seals joint venture deal in Cambodia

Image via WikipediaMANILA, Philippines - Listed online technology firm PhilWeb Corp. has concluded a joint venture agreement with 5P Corporation Ltd. of Cambodia for the license to operate Internet- and mobile-based games of chance in that country.
5P Corporation is a diversified company, which is controlled by Madam Hun Sen Ny, the sister of Cambodian Prime Minister Hun Sen.
The joint venture is 80% owned by PhilWeb Cambodia Ltd., a wholly owned subsidiary of PhilWeb Corp., and 20% owned by 5P Corporation Ltd. Estimated total capital investments will be $5 million over a 5-year period.
The Cambodian joint venture is part of PhilWeb's efforts to expand overseas.
PhilWeb is also working to obtain gaming licenses in other countries, including Laos, Vietnam, Myanmar, Guam, Saipan, Palau, Papua New Guinea, East Timor, and Nepal.
http://www.abs-cbnnews.com/business/07/14/10/philweb-seals-joint-venture-deal-cambodia