Stock News 2010: RLC rolling out 11 new residential projects

Image via WikipediaMANILA, Philippines - Robinsons Land Corp. (RLC), the property development arm of Gokongwei holding firm JG Summit Holdings Inc., is rolling out 11 new residential projects to fill in the strong demand for low-to middle-income housing.
In a filing with securities regulators, RLC said it is awaiting the issuance of a license to sell a total of 5,008 housing units covering 11 new projects.
These projects are Monte Del Sol, Costa Verde, Forest Parkhomes North, Hanalei Heights , Brighton Parkplace North, Montclair Highlands , Sitio Andalucia, St. Bernice Estates, Nizanta Gardens , Vimana Verde Residences and Grand Tierra.
RLC said it plans to develop at least three new housing projects a year. To further expand its landbank and geographic base, the company is in various stages of negotiations for the acquisition of approximately 203 hectares in key regional cities throughout the country.
For its residential buildings division, RLC said it plans to build at least three new projects annually. As of end-September 2009, RLC had a portfolio of 29 residential condominium projects located in Metro Manila and Cebu, of which 16 had been completed and 13 projects under various stages of development.
“The company’s business plan for its residential buildings division is to develop new projects in response to actual and anticipated market demand.
The company believes that the potential for growth is in the affordable to middle-cost high-rise condominium developments and in the middle-cost to high-end horizontal residential segments of the market,” RLC said.
For its commercial center division, RLC had 10 new shopping malls in the planning and development stage for completion in the next two to three years to sustain its growth momentum.
For its fiscal year ending September 2009, RLC had opened five malls: Pulilan, Bulacan; Tagaytay; Davao; Tacloban and Gen. Santos City and a redeveloped mall in Tarlac City. It currently operates 26 shopping malls, comprising six malls in Metro Manila and 20 malls in other urban areas throughout the Philippines, with a gross floor area of approximately 1.43 million square meters.
The commercial centers division’s main revenue stream is derived from the lease of commercial spaces. Historically, revenues from lease rentals have been a steady source of operating cash flow for the company.
RLC expects that the revenues and operating cash flow generated by the commercial centers business shall continue to be the driver for the company’s growth in the future.
Zinnia B. Dela Peña
February 11, 2010
http://208.184.76.175/Article.aspx?articleid=548410

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Stock News 2010: RLC profit up to P3.3B

Image via WikipediaMANILA, Philippines – The Gokongweis’ Robinsons Land Corp. posted a four-percent year-on-year profit growth in fiscal year 2009 that ended September, on higher revenue from its shopping mall and office property portfolio.
Net profit hit P3.27 billion on the back of a P10.73-billion revenue. Excluding extraordinary items, RLC’s core net income grew by 10 percent, the firm said in a statement.
“RLC’s various business units managed to perform well because of our deep understanding of the market, commitment to operational efficiencies and a healthy balance sheet,” said Frederick Go, RLC president and chief operating officer.
The commercial centers division accounted for P4.21 billion or 39 percent of the real estate revenue for the year, up 14 percent from year-ago level.
Enterprise-wide average occupancy rate for the malls was steady at 93 percent.
From October to December last year, RLC opened four new malls: Robinsons Place General Santos, Robinsons Place Dumaguete, Robinsons Ilocos Norte and Robinsons Cybergate Cebu.
RLC is the second largest shopping mall developer in the country with 29 malls nationwide. The office buildings division, a leading provider of space to BPOs, reported gross revenue of P1.1 billion, or 26 percent higher than year-ago level. Accounting for 10 percent of total revenue, the office division’s operating profit grew by 20 percent to P738 million. It enjoys a stable recurring lease from its six office buildings: Robinsons Cybergate Towers 1, 2, 3, Robinsons Summit Center, Robinsons Equitable Tower, and Galleria Corporate Center.
RLC’s hotels division posted P1.04 billion in revenue, down from last year’s P1.14 billion due to the global travel slowdown. Its net income before tax reached P130.49 million.
Doris C. Dumlao
January 14, 2010
http://www.robinsonsoffices.com/news.html

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Stock News 2009: Robinsons Cybergate Center Tower offers top grade building facilities

Image via WikipediaRobinsons Land Corp. (RLC), the country's top developer of premium office spaces, continues to offer the best value for locators from business process outsourcing industry through it's recently-completed Cybergate Center Tower 3.
At Robinsons Cybergate Center Tower 3, tenants will get to enjoy various tax and fiscal incentives since it is located within Robinsons Cyber Park, a PEZA-certified IT Park.
This building has been designed by seasoned professionals to offer locators with large floor plate of about 2,100 sq.m. of contiguous space, as well as widely spaced column ideal for BPO/call center type offices to give them more flexibility in organizing their work areas.
High-speed telecommunication and broadband data lines are made available through major telecommunications providers. The design also provides for interfloor communication trunking and telecom risers for additional trunking installation.
Cybergate Center Tower 3 has synchronized generator sets and a redundant generator to ensure 100 percent back-up for an uninterrupted power supply, as well as an automatic sprinkler system for protection against fire. The building has 11 high-speed elevator units.
It uses a Variable Refrigerant Volume (VRV) Air-conditioning System, a new generation technology, which allows users to control its operation to generate savings on electrical consumption, especially after standard office hours. This system is ideal for offices operating flexible hours.
Cybergate Center Tower 3 is located within the Robinsons Pioneer Cybergate Complex, which has its own transport terminals and is adjacent to the MRT station. This convenience is seen to make it easier to hire skilled workers since accessibility is one of the prime considerations of BPO recruits.
Aside from restaurants and convenience store integrated into the building, Cybergate Center Tower 3 shares the complex with Forum Robinsons, a specialty mall where employees get to relax, shop, dine and be entertained after a day’s work and several Robinsons-built residential towers.
Meanwhile, RLC recently “top-off” Cybergate Plaza, the fourth office building within the same complex in response to the continued uptake of traditional and BPO office spaces. This office building will have a total of six leasable office floors with ample parking and is expected to be ready to handover this year.
Zinnia B. Dela Peña
March 10, 2009

http://www.robinsonsoffices.com/jan-mar2009.html

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Stock News 2009: Robinsons Land earnings jump 29% to P3.15 billion

Image via WikipediaRobinsons Land Corp. (RLC), the property arm of Gokongwei investment holding firm JG Summit Holdings Inc., said its net earnings rose 29 percent in its fiscal year ending September 2008 to P3.15 billion on the back of solid growth in operating lease revenues and sales.
In a financial report filed with securities regulators, RLC said consolidated revenues grew 26 percent to P11.18 billion from only P8.89 billion as sales from lease operations improved 35 percent.
RLC president and chief operating officer Frederick Go said the financial results were better than expected amid tough challenges in the real estate industry.
He said the company will continue to pursue projects in industry segments that have promising potentials to further boost its cash flow.
“We will continue to produce projects that cater to the demands of the consumer market. Our solid balance sheet and stable recurring income will allow us to pursue more projects in the coming year,” Go said.
RLC’s commercial centers division contributed P3.7 billion or 33 percent while its high-rise division accounted for 50.44 percent or P5.64 billion of the company’s gross revenues.
As of Sept. 30 last year, RLC operated 21 shopping malls, comprising six malls in Metro Manila and 15 malls in other urban areas throughout the Philippines, and had another 13 projects that are in the planning and development stage scheduled for completion in the next two to three years.
Among the new malls in the pipeline are Robinsons Dumaguete, Tacloban, Gen. Santos, Cebu and San Niccolas in Ilocos.
The strong rental sales, however, were offset by flat revenue growth in RLC’s hotel operations and a drop in interest income.
The 2008 net income includes an extraordinary adjustment to reduce provision for deferred income tax amounting to about P300 million. The adjustment was necessitated by the reduction of the legislated corporate income tax rate starting January 2009 from 35 percent to 30 percent.
The residential buildings division registered revenues of P4.76 billion, up 69 percent from the previous level mainly due to higher realized sales of condominium units in East of Galleria in Ortigas, Gateway Garden Ridge and Gateway Garden Heights in Pioneer, Mandaluyong and Otis 888 Residences in Manila.
The office buildings division, on the other hand, reported a 24-percent growth in revenues to P883 million due to stable recurring lease income from six of RLC’s office buildings, which have become the choice corporate addresses of reputable multinational companies as well as BPO (business process outsourcing) firms.

Zinnia B. Dela Peña 

January 24, 2009

http://www.robinsonsoffices.com/jan-mar2009.html