Stock News 2013: TV5 allots P6B for capex

GMA Logo in their 60th Anniversary (Photo credit: Wikipedia)

ABC Development Corp., owner and operator of TV5, is infusing P6 billion for its capital expenditures this year to boost its efforts to cut losses since dominant carrier Philippine Long Distance Telephone Co. (PLDT) acquired the network in 2009.

PLDT chairman Manuel V. Pangilinan told reporters on the sidelines of TV5’s “Blast Off for 2013” that the country’s third largest network’s budget for capital expenditures this year would be at par with the amount spent by the company last year.

This year’s budget would be allocated to complete the network’s state-of-the-art media center in Mandaluyong City with the news part scheduled to be finished in the first quarter.

“The capex would be around P6 billion, approximately the same as last year. We are still building our entertainment studios in Mandaluyong and the news part will be finished within first quarter this year,” Pangilinan said.

He added that a portion of the amount would also be used to introduce new shows as the network goes full throttle towards being one of the country’s leading multimedia this year.

TV5 welcomed the new year with its biggest show of force as it launched its biggest offerings for the first quarter of the year.

The PLDT chief pointed out that the company’s reprogramming would redound to improved bottomline as TV5’s losses ballooned to about P2.8 billion in the first half of last year.

“We should be better this year with better programming, better talents, and revenues I think,” Pangilinan said.

He said the company is now in the process of trimming its operating and production costs.

“It is a learning process for us in terms the ability to control cost of mounting a production whether it is a teledrama or a comedy. We are learning how to control the cost of production,” he explained.

According to him, TV5 would be able to sustain its strong finish last year after overtaking GMA Network Inc. (GMA7) in the last quarter in six viewer rich cities in Metro Manila including Iloilo, Cebu, Davao, Cagayan de Oro, Bacolod, and General Santos City that has a total four million viewers based on Nielsen TV Audience Measurement.

http://philstar.com/business/2013/01/17/897750/tv5-allots-p6b-capex-will-launch-new-shows

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Stock News 2012: Cityland unveils Pines Peak residential condo in Mandaluyong

Mandaluyong city (Photo credit: Wikipedia)
Cityland Development Corp. (CDL), a member of the Cityland Group of Companies, has unveiled its newest project, the 27-story medium-sized residential condominium Pines Peak, in Mandaluyong City.

In a disclosure to the Philippine Stock Exchange, CDC said Pines Peak, which will rise along the corner of Union and Pines streets in Mandaluyong, is targeted towards the fast-paced Filipino family.

Pines Peak will have more than 1,000 units with sizes ranging from 16 square meters to 40 square meters. Each floor may house 50 units.

A studio unit may sell for around P1.2 million while one-bedroom units may be priced at around P1.5 million each. Two-bedroom units may be sold at P2.1 million to P3.1 million each.

Amenities include a swimming pool, multi-purpose function room with movable playset, viewing deck and 24/7 security.

CDC said friendly and flexible payment terms are available to interested buyers. Special discounts will also be given for the early buyers during the project’s launch.

The Cityland Group is a trusted name in the real estate industry given its track record of developing condominiums. It has been in the real property development business for over 25 years.

Aside from CDC, the group has two other units – City and Land Developers (CLD) and Cityland Developers.

CDC was formed in 1978 to engage in the development of land for residential, office, commercial, institutional and industrial uses. The company’s projects include medium to high-rise offices, commercial and residential condominiums located in Makati, Mandaluyong and Ortigas in Pasig, and farmlots in Bulacan and Cavite. – Zinnia dela Peña

CLD, on the other hand, caters to the low-to-middle income segments since its projects are offered at affordable prices. It developed residential units in Paranaque as well as an office and residential condominium project in Ortigas Center.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=828527

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Stock News 2012: SM unit acquires Euro-Med subsidiary

Shaw Boulevard (looking east), Mandaluyong City, the Philippines (Photo credit: Wikipedia)SM Development Corp. (SMDC), the residential development arm of the Sy family’s listed holding firm SM Investments Corp., is acquiring a wholly-owned subsidiary of pharmaceutical firm Euro-Med Laboratories Inc. for P1.25 billion.

In a disclosure to the Philippine Stock Exchange, SMDC said it signed an agreement to take over 102 E. De Los Santos Realty Co., which owns two prime lots with a total area of 10,936 square meters located along EDSA in Mandaluyong City.

The transaction is expected to be completed within 36 months after the signing of the agreement, SMDC said.

102 EDSA recently obtained the Securities and Exchange Commission’s nod to raise its authorized capital from P1.5 million to P220 million.

The purchase is in line with the SM Group’s landbanking strategy as it  hopes to further widen its geographical footprint and ensure a more solid platform for growth.

SMDC currently has a landbank of 85 hectares in Metro Manila and 113 hectares in the provinces.

For this year, SMDC is launching more than 70,000 new residential units  worth around P37 billion.

Meanwhile, sister firm SM Land broke ground on the 15-story ThreeE-comCenter, the third installment of a four-structure premier business hub at Mall of Asia complex in Pasay City. The project is targeted for completion in the fourth quarter of 2014.

Interior designed by Miami-based firm Arquitectonica, ThreeE-com will make available a gross floor area of over 125,000 sqm and an estimated gross leasable area of 79,000 sqm.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=805707

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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: Swift sells P500-million Mandaluyong property to DMCI

Swift Foods Inc. is selling P500 million worth of property located at its headquarters in Mandaluyong City to DMCI Project Developers Inc.

In a disclosure to the Philippine Stock Exchange on Friday Swift said its board approved the sale of three parcels of land on Sheridan St. with a total area of 11,116 square meters at P45,000 per sqm.

The sale is in line with Swift’s efforts to pay down its debt.

Based on earlier filings with the local bourse, Swift said it would pursue the sale of non-performing assets to settle outstanding obligations.

Despite its liquidity problems, Swift management said it would continue to find ways to address pressing matters.

Only its farm in Palawan will remain operational and continue to produce quality Swift Sariwanok chicken, Swift said.

Swift incurred a net loss of nearly P70 million in the nine months ending September 2011, slightly higher than the P68.9 million loss recorded a year before on lower sales.

Net sales slid 33 percent to P304.34 million.

In the third quarter of 2011 alone, Swift’s net loss amounted to P12.35 million or a decrease of 75.5 percent from the P50.38 million posted the previous year.

http://www.philstar.com/Article.aspx?articleId=790644&publicationSubCategoryId=66

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 2010: RLC builds 3 more budget hotels

Image via WikipediaMANILA, Philippines - Robinsons Land Corp. is building three more budget hotels, located outside Metro Manila, in addition to its pilot site at the Robinsons Pioneer Cybergate complex in Mandaluyong City.
Slated for opening on May 19, Go Hotel-Pioneer will offer 225 rooms with sizes ranging from 16 square meters to 22 square meters each. Rates vary from P388 to P3,000.
In the pipeline are branches in Tacloban, Palawan and Dumaguete which are expected to be developed in the next three to five years.
The Palawan site is expected to have 80 to 100 rooms Go Hotels is the fifth hotel property of RLC next to the 285-room Crowne Plaza Galleria Manila, 263-room Holiday Inn Galleria Manila, 210-room Cebu Midtown Hotel and the 108-room Summit Ridge Hotel Tagaytay.
RLC president and chief operating officer Frederick Go earlier said the budget hotel was a good fit for lowcost carrier Cebu Air and a perfect choice of budget-conscious travellers.
In the fiscal year ending September 2009, RLC’s hotel division registered revenues of P1.04 billion or about 10 percent of total revenues.
Zinnia Dela Peña
May 12, 2010
http://www.philstar.com/Article.aspx?articleId=574376&publicationSubCategoryId=66

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Stock News 2009: Cityland plans to raise P900-M from debt papers

Image via WikipediaMANILA - Listed property firm Cityland Development Corp. is planning to issue P900 million worth of short-term commercial papers (STCP) to pay maturing obligations and to partially finance its real estate projects.
Cityland sought approval from the Securities and Exchange Commission for the STCPs, which would mature in one year and would carry a fixed interest rate of 5.23%. The company said these will be sold to local small investors and institutional buyers.
Of the amount, Cityland said it will allot P240 million for more than half of the total development cost of 2 real estate projects.
The company said it may tap its existing credit line with banks and other financial institutions to cover for the remaining amounts needed for the Makati Executive Tower III (a 37-storey commercial, office, and residential condominium in Makati City) and the Mandaluyong Executive Mansion III (a 7-storey commercial and residential condomium in Mandaluyong City).
As of end-June, Cityland has P1.91 billion in total outstanding loans.
Formerly called Statehouse Land Development Corp., Cityland has projects in medium to high-rise office, commercial, and residential condominiums in Makati, Mandaluyong, Manila, and Pasig. The company also develops farmlots and residential subdivisions in Bulacan and Cavite provinces.
Shares of Cityland fell to P1.44 apiece on Wednesday from P1.50 on Tuesday.
http://www.abs-cbnnews.com/business/10/14/09/cityland-plans-raise-p900-m-debt-papers

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Stocks News 2008: Cityland seeks SEC approval to sell P1B in short-term debt

Image via WikipediaMANILA, Philippines - Listed property developer Cityland, Inc. sought regulatory approval Tuesday to sell short-term commercial paper to the public worth P1.15 billion, a bulk of which will be used to pay off maturing debts.
The firm told the Securities and Exchange Commission it planned to use P770 million of the proceeds to settle loans worth P1.03 billion as of June 30.
Of the debts, about 86% are composed of commercial paper issued on Dec. 17. The rest is owed to Amalgamated Bancorporation and Security Bank Corp., the company said.
Cityland said it also intends to use over a quarter of the proceeds to finance its 39-storey mixed-use condominium project called The Manila Residences.
It said it would spend the money on the project over 12 months. The balance will be used to pay for interest on the notes.
Cityland said it would offer almost three-fourths of the commercial debt paper to general public, while the balance would be made available to big investors.
The company said the debt paper would be offered in four equal tranches, the first to start as soon as gets approval from the commission.
Cityland said the notes would mature in a year and would have a rate of 6.88%. It said the proceeds of the sale would not be used to acquire property within the next twelve months.
Cityland also sought an exemption from getting an underwriter for the offer, saying it was capable of selling the debt paper on its own.
The real estate developer said that it would renew the maturing debts to financial institutions if it does not raise the money from the offering.
The company, formerly known as Statehouse Development Corp., acquires and develops land for mixed-use medium- and high-rise buildings in Makati City and Mandaluyong City.
It also sells affordable houses in Pasig City and residential subdivisions and farm lots in Bulacan and Cavite.
Cityland is the developer of the Pasig Royale Mansion, Oxford Mansion, Windsor Mansion and Brentwood Mansion. Launched on Aug. 21, the newest Brentwood Mansion will rise along Evangelista St., New Santolan in Pasig City.
It is a 12-storey commercial and residential building with features and amenities such as a clubhouse and swimming pool, and 24-hour security.
11/05/2008 | 01:14 AM

http://www.gmanews.tv/story/131378/Cityland-seeks-SEC-approval-to-sell-P1B-in-short-term-debt

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