Investing Stocks in Philippines: philippines

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Sunday, June 23, 2013

Stock News 2013: Asia Brewery goes into yoghurt and soy milk

English: an Malaysia Product Soy Milk ... Enriched with high calcium . showing an Soy Milk Envelope and a glass of that. (Photo credit: Wikipedia)

The LT Group, the investment holding firm of tycoon Lucio Tan, said it is looking to expand its food and beverage network into soy milk and pasteurized yoghurt.

LT Group head Michael Tan said at the company’s annual stockholders meeting on Wednesday, June 19, that they are looking to increase their market share by introducing new lines of soy milk and pasteurized yoghurt.

In December 2012, Asia Brewery Inc (ABI), a subsidiary of the LT Group announced its partnership with one of Spain’s biggest dairy company, Gulpo leche Pascual, to import pasteurized yoghurt and soy milk to meet the rising demand of dairy and soy products.

Grupo Leche Pascual president Tomas Pascual said at the launch that 2.6 million kilograms or 1 million cases of Creamy Delight Pasteurized Yogurt will be imported from its factory in Spain throughout 2013.

The next step, according to Tan, is to establish a manufacturing facility in the Philippines which will manufacture enough product to be exported.

“We’re importing it right now so once it gets to critical volume we will begin to manufacture. Gulpo Leche Pascual, has identified the Philippines as the manufacturing base they would like to have in South East Asia,” said Tan.

This comes as part of ABI’s new strategy to increase domestic market share, tap into new overseas markets and launch new products.

http://www.rappler.com/business

Monday, April 29, 2013

Stock News 2013: Pepsi Cola profit jumps 20% to P270M in Q1

Deutsch: Logo Altes Pepsi Cola-Logo (Photo credit: Wikipedia)

Listed beverage maker Pepsi-Cola Products Philippines Inc. posted a hefty improvement in its first quarter performance due to strong sales.

In its financial report, Pepsi-Cola said its net income jumped 20 percent to P270 million in the first three months of the year. Gross revenues hit P6 billion, up 14 percent from a year ago.

“This significant achievement was driven by increasing distribution coverage with the intent of reaching more consumers from various consumer segments,” said Pepsi-Cola president Partho Chakrabarti.

“We also focused on product expansion and aggressive marketing programs, with equally supported investments in containers, coolers, vehicles and manufacturing,” he added.

The 18-percent growth in sales volume offset the 13-percent increase in cost of sales, which consists primarily of raw and packaging materials, direct labor and manufacturing overhead.

This allowed Pepsi-Cola to post a 14-percent gain in gross profit to P1.4 billion.

Operating expenses, which is composed of selling and distribution, general and administrative, and marketing expenses, jumped 12 percent in the first quarter.

Jika Dalupan, Pepsi-Cola’s vice-president for corporate affairs, said the top line growth helped fund strategic investments personnel, marketing campaigns, and sales and distribution infrastructure.

Pepsi- Cola is the exclusive bottler of PepsiCo beverages in the Philippines which include Pepsi-Cola, Mountain Dew, Seven Up, Mirinda, Gatorade, Tropicana, Mug, Lipton, Sting, and Premier.

Pepsi-Cola has joined the fray in the powdered drinks category through Mirinda Powder Fun Mix as it aims to strengthen its non-carbonated business.

In September, it launched Tropicana Coco Quench, which is 100 percent made from real coconut water. It will be available initially in the Philippines and later on to the rest of Asia as it seeks to expand its non-carbonated beverage segment.

Pepsi-Cola is partly owned by Lotte Chilsung, one of the biggest beverage companies in South Korea. The listed company has established manufacturing facilities across the country, serving at least 440,000 outlets and providing employment through its extensive distribution network.

http://www.philstar.com/business/2013/04/26/934909/pepsi-cola-profit-jumps-20-p270m-q1

Wednesday, April 24, 2013

Stock News 2013: Supreme Court affirms dismissal of civil case vs SM Prime Holdings

English: Skyline of Cebu City (Photo credit: Wikipedia)

The Supreme Court affirmed the decision of the Pasig City Regional Trial Court in dismissing the civil case filed against SM Prime Holdings Inc. for non-payment of P76.8 million amusement tax incentive reward from 2003 to 2008.

In a decision by the high court’s first division through Associate Justice Martin Villarama, the Pasig Court’s ruling is proper and does not indicate that it is abdicating its jurisdiction over the case.

The Film Development Council of the Philippines filed the case against SM to collect the P76,836,807.08 from SM Cebu.

The civil case in Cebu, meanwhile, was filed by the Cebu City Government seeking to declare as invalid a provision of Republic Act 9167 or the law creating the Film Development Council of the Philippines which requires cities and municipalities in Metropolitan Manila and highly urbanized cities nationwide to deduct from theaters and cinemas amusement tax that will be used as reward for film producers who can make high quality films.

Cebu City government argued that the provision violates the Local Government Code specifically the provision which gives LGUs taxing power.

SM sought to dismiss the case filed in Pasig saying it has been religiously remitting amusement tax to the Cebu City government and informed the court of a similar case in Cebu, adding that its motion for intervention with the Cebu Court has been granted.

The Pasig Court granted SM’s motion to dismiss on the ground that there is a pending case in a Cebu Court.

The high court in its ruling agreed with the Pasig Court’s ruling that the Cebu Court is in the best position to rule over the case.

“A party is not allowed to vex another more than once regarding the same subject matter and for the same cause of action. This theory is ‘founded on the public policy that the same subject matter should not be the subject controversy in courts more than once, in order that possible conflicting judgments may be avoided for the sake of the stability of the rights and status of persons and also to avoid the costs and expenses incident to numerous suits,” the high court said.

http://business.inquirer.net/118175/sc-affirms-dismissal-of-civil-case-vs-sm-prime-holdings

Saturday, March 16, 2013

Stock News 2013: Tan-Sia property firm ventures into Metro Manila

De La Salle University (Photo credit: Wikipedia)

DoubleDragon Properties Corp., a property venture of fast food magnates Tony Tan Caktiong and Edgar “Injap” Sia II, is breaking into Metro Manila’s competitive property market by bringing P1.52 billion worth of residential inventory in a skyscraper rising beside the De La Salle University in Taft Avenue.

W.H. Taft Residences, DoubleDragon’s first offering in Metro Manila, is a 30-story residential condominium that will have 562 “education-inspired” units, said Sia, who is the company chairman and CEO.

It will rise on a 1,200-square-meter lot right beside the main gate of DLSU and will have a back access to the campus.

This also boosts DoubleDragon’s visibility in the metropolis especially as the company plans to debut on the Philippine Stock Exchange soon. The initial public offering may happen by the third quarter of this year, Sia said.

Being a relatively new player in the property market especially in Metro Manila, Sia said DoubleDragon was picky on its projects and it preferred those that required shorter completion period. The company has committed to turn over to buyers residential units in W.H. Taft Residences by the fourth quarter of 2014.

“Other major property developers are also constructing in the area but the location of WH Taft Residences is far more superior, plus the completion date of WH Taft Residences is already next year, compared to the big players. The others are still in the substructure phase and turnover will be two to three years later,” Sia said in an e-mail.

Sia said 64 percent of this project was already taken up as of end-February. “We just relaunched it. We target to sell the remaining 36 percent, or 198 units, before the project is completed,” he said.

The residential units have floor areas ranging from 15.5 to 35 square meters. They sell for P98,000 and P100,000 per sqm.

The ground and second floors of the building will have commercial retail areas for lease.

DoubleDragon’s earlier projects and landholdings were in Iloilo and Roxas.

“DoubleDragon Properties will continue looking at acquiring existing projects or property companies that will accelerate its growth. It aims to create prime retail sites not just for the Jollibee Group brands (Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Burger King) but also for other major anchor tenants,” Sia said.

http://business.inquirer.net/111565/tan-sia-property-firm-ventures-into-metro-manila-market

Tuesday, February 19, 2013

Stock News 2013: Aboitiz Power eyes 300-MW plant in Cebu

Mohave Generating Station, a 1,580 MW thermal power station near Laughlin, Nevada fuelled by coal (Photo credit: Wikipedia)

Aboitiz Power Corp. is planning to build a 300-megawatt power plant in Cebu to help address the need for additional capacity in the Visayas grid starting 2015.

The proposed power project, which may likely be coal-fed, will also expand the company’s power portfolio on the island.

According to APC president Erramon I. Aboitiz, the proposed Cebu power project was still being developed and has yet to secure board approval.

“We don’t have a timetable for that yet,” Aboitiz said.

APC has interests in several power facilities located in Cebu, including a 26-percent stake in Cebu Energy Development Corp., which owns and operates a 246-MW coal-fired plant in Toledo City.

APC also holds 50 percent of the outstanding capital stock of East Asia Utilities Corp., which operates a 50-MW bunker-fired power plant in the Mactan export processing zone on Mactan Island. It likewise owns 60 percent of the total outstanding shares of Cebu Private Power Corp., which operates a 70-MW bunker-fired plant in Cebu City under a build-operate-transfer contract to supply 62 MW to the Aboitiz Group’s Visayan Electric Co. (Veco).

The proposed 300-MW power plant of APC will help the government secure adequate supply for the Visayas grid, which will need an additional 2,000 MW by 2030 to address the growing electricity demand on the island.

Based on the Philippine Energy Plan, Visayas will need at least 100 MW of fresh capacity a year starting 2015.

The DOE has so far listed for Visayas only five committed power projects, or those projects that are firmly expected to push through as these have already complied with the necessary permits and clearances of various agencies and concerned local governments and are in the process of financial closing.

http://business.inquirer.net/107941/aboitiz-power-eyes-300-mw-plant-in-cebu

Monday, February 11, 2013

Stock News 2013: Most stock markets closed in Asia for holidays

The New York Mercantile Exhange at 628 Broadway between Bleecker and Houston Streets in the NoHo section of Manhattan, New York City was built in 1882 and designed by Herman J. Schwarzmann with Buchman & Deisler. (Source: AIA4 Guide to NYC (4th ed.)) (Photo credit: Wikipedia)

Stock markets in Hong Kong, mainland China and Seoul were among those closed Monday for the Lunar New Year holiday. Japanese markets were also shut for a public holiday.

Australia’s S&P/ASX 200 was marginally higher at 4,973.20, with a positive earnings report from retailer HB Hi-Fi Ltd. helping to boost retail stocks. JB Hi-Fi surged 15.4 percent after reporting its first half net profit had risen 3 percent to 82 million Australian dollars ($84.6 million). David Jones rose 3.6 percent and Myer Holdings added 3.1 percent.

Key stock indexes in the Philippines and Indonesia also rose while markets in Singapore, Taiwan and Vietnam were closed for holidays.

Benchmark oil for March delivery rose 5 cents to $95.77 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 11 cents on the Nymex on Friday to close at $95.72 a barrel.

http://business.inquirer.net/107021/most-stock-markets-closed-in-asia-for-holidays

Friday, January 18, 2013

Stock News 2013: Philippine water brand hits Africa

Crystal clear (Photo credit: Willem van Bergen)

While water is scarce in many regions around the world, it is refreshing to note that Filipino purified water brand Crystal Clear, one of the more popular bottled drinking water brands in the Philippines, is now serving the water-challenged African region, starting with a thriving market such as Sierra Leone.

The brand now operates a water station there, thanks to a joint venture between local firm Peninsular Innovative Group and Solerex Water Technologies Inc., the company that operates Crystal Clear. Together, they created Solerex Peninsular Ventures (SPV), and the first Crystal Clear water station in the West African region, located at Kissy Road along the eastern end of Freetown, was born.

The company will provide water supply, treatment, desalination, and storage solutions for both commercial and industrial projects in Freetown, Sierra Leone’s capital city, acknowledged as the country’s urban, economic, financial, cultural, educational and political hub.

Jose Antonio “Che” Soler, President and Chief Executive Officer of Solerex Water Technologies Inc., says it succinctly: “We are proud to be in Sierra Leone, a first for a Filipino company, and a water firm at that. We all know that many African countries lack potable drinking water, which is really bad since they have a very hot climate and also contributes to the prevalence of many ailments. With this new venture, we hope to be able to provide Africans, at least in Sierra Leone, access to safe and quality drinking water.”

Soler says they are here to help the people of Sierra Leone in terms of providing them water that is safe for their families to protect them from water scarcity-related diseases.

Peninsular Innovative Group CEO Yakama Jones expresses delight that now, more Sierra Leonians will have readily available water that is not only pure and safe to drink but also affordable. “We are happy that Solerex partnered with us in our objective of eradicating water-borne diseases and bring to our country cleaner water and thus save more lives.”

She adds that Solerex’s advanced water treatment technology enables them to treat water collected from rain, wells, streams and other potential water sources and make it more potable and safe to drink. This comprehensive and world-class water filtration process includes mechanical pre-filtration, multimedia filtration, activate carbon, water softener, 5-, 10- and 20-micro cartridge depth filtration, reverse osmosis membrane hyper-filtration, ozonation and post-carbon activated filtration.

Solerex is no stranger to the water purification business, having been involved in it for more than 25 years already and an established presence in major countries in Asia, including Indonesia and Malaysia and of course, the Philippines.

Their leading brand of purified drinking water, Crystal Clear, which surpasses US-Grade Quality standards of water with their state-of-the-art Reverse Osmosis SLX Systems that eliminate inorganic minerals and chemicals, is now found in most homes and offices nationwide.

http://business.inquirer.net/102337/philippine-water-brand-hits-africa

Wednesday, January 16, 2013

Stock News 2013: MPIC eyes int’l partner for Cebu airport

Photo of Manny (Photo credit: Wikipedia)

Infrastructure conglomerate Metro Pacific Investments Corp. (MPIC), a unit of First Pacific Group of Hong Kong, is talking with a potential foreign partner to boost its bid for the P17-billion Mactan Cebu International Airport project.

MPIC chairman Manuel V. Pangilinan said in an interview with reporters that the conglomerate is scouting for a foreign partner with expertise in airport operations in line with the scheduled bidding for the contract to undertake the airport project.

“Yes, we are talking to potential partner for the technical or what you call an airport operator,” Pangilinan stressed.

MPIC has expressed interest in the country’s second largest international airport.

“We have to have the right partner that will qualify with respect to our bid,” he added.

According to him, the company would form a special purpose vehicle including other members of a consortium that would bid for the airport project.

The Department of Transportation and Communications (DOTC) decided to stick to its earlier decision barring owners of airlines to bid for major airport projects such as the Mactan-Cebu International Airport due to conflict of interest.

DOTC Secretary Joseph Emilio Abaya earlier said the agency would push through with the public bidding for the airport project based on the guidelines issued late last month.

According to terms of reference issued by the DOTC last month, “an individual, partnership, corporation, or any other juridical entity, and if the prospective bidder is a consortium, any consortium member or such consortium members’ affiliates for the duration of the bidding process cannot be an entity providing air transport services in the Philippines, be they domestic or international.”

Also, the bidders cannot have any interest, direct or indirect, in such entity; or cannot be owned by such entity.

http://philstar.com/business/2013/01/17/897730/mpic-eyes-intl-partner-cebu-airport-bid

Sunday, January 13, 2013

Stock News 2013: Ayala unveils P20-B dev’t plan for former Sta. Ana racetrack

English: Greenbelt mall in Makati City, Philippines (Photo credit: Wikipedia)

Property giant Ayala Land Inc. on Friday unveiled a P20-billion, five-year development plan for a new urban entertainment hub, which will rise at the former Sta. Ana racetrack under a venture with horse-racing operator Philippine Racing Club Inc.

“Circuit is Ayala Land’s 21-hectare integrated, mixed use development anchored on entertainment experiences that brings together Ayala Land’s various product lines–Alveo for residential, Ayala Malls and offices, and Ayala Hotels,” ALI president Antonino Aquino said in a press statement.

“In five years’ time, it will rise as a dynamic urban hub seamlessly complementing the distinct taste for living, leisure and lifestyle of today’s modern urbanites,” he said.

Meean Dy, ALI’s group head for strategic landbank, said Circuit would highlight Makati’s stature “not only as the Philippines’ business and financial capital, but also, more importantly, as the country’s unrivaled destination for lifestyle and entertainment.”

The upcoming hub would be directly connected to the Makati central business district through Ayala Avenue extension and South Avenue, future road linkages and other projects.

“In the past, the race track has provided entertainment for generations of horse-racing aficionados. Now, Ayala Land intends to preserve the district’s entertainment equity by bringing in a multi-faceted form of entertainment, one that is both interactive and world-class,” she said.

The name “Circuit Makati” was coined to honor Sta. Ana’s heritage the site of a former racing circuit. The word “circuit” also connotes, energy, vibrancy and excitement, ALI said.

The development will feature a theater, a 1,500-seater performing arts venue envisioned to showcase Filipino world-class talent and “Broadway-type” entertainment.

A “Circuit Lane,” will showcase an interactive walk with a multi-purpose black box for more intimate shows, recitals, workshops and parties. The interactive walk will span across the entire length of the district, highlighted by a water feature flanked by retail and leisure shops.

There will also be an events grounds, intended to be a venue for various types of events such as concerts, dance and theater performances, fashion shows, exhibits as well as outdoor sporting events such as football.

The first phase of Circuit development, to be unveiled this year, will include a two-hectare open grounds area that can accommodate up to 20,000 people per event. “The Circuit Event Grounds will feature a 2,000-square meter canopy area which can house up to 1,000 people and is set to be the preferred entertainment venue in the metro, hosting numerous outdoor events and activities providing fun for all,” Mel Ignacio, project development head for Makati.

http://business.inquirer.net/102205/ayala-unveils-p20-b-devt-plan-for-former-sta-ana-racetrack

Saturday, December 22, 2012

Stock News 2012: Palace OKs proposed gov’t takeover of MRT-3

Manila MRT-3 Train (type Tatra RT8D5) approaching Ayala Station in Makati City. Self-taken. (Photo credit: Wikipedia)

President Aquino has approved the Department of Transportation and Communications’ plan to take over the Metro Rail Transit Line 3, which was estimated to cost the government roughly $1 billion.

“It was approved yesterday (Monday) by the President and consented by the concerned Cabinet secretaries present in the meeting,” Transportation Secretary Jose Emilio Abaya said in a briefing on Tuesday.

Abaya said the President and the members of his Cabinet discussed and approved in principle the DOTC’s plan to buy out the private sector’s stakes in the commuter train system. Abaya said the “de-privatization” plan would cost the government about $1 billion.

The DOTC said the state takeover of the facility would spare the government from covering the 15-percent return on investment guaranteed to the MRT concessionaire.

MRT concessionaire Metro Rail Transit Corp. (MRTC), the consortium that built MRT-3, is controlled by Metro Pacific Investments Corp., the listed holding company in the Philippines of Hong Kong-based First Pacific group.

Although the government owns 80 percent economic interest in MRTC, through Land Bank of the Philippines and Development Bank of the Philippines, its voting rights are less than those held by the private concessionaire.

The consortium operating MRT-3, through special purpose vehicle MRT II Funding Corp., earlier raised funds via the issuance of MRT bonds. The bonds were bought by private corporations but were later bought back by DBP and LBP.

“We will be buying the bonds from DBP and LBP. It’s like retiring the bonds,” Abaya said. He added that the $1 billion estimated cost included the cost of buying back the bonds.

The buyout will take place next year, he said.

In the meantime, Businessman Manuel V. Pangilinan said his group would not stand in the way of the government’s planned buyout of the MRT line.

In an interview, Pangilinan said he would respect the government’s decision and would continue to support the administration’s infrastructure program.

The Pangilinan group, through Metro Pacific Investments Corp. (MPIC), owns the majority of the voting shares in MRT Corp., the private sector consortium that holds the train line’s concession contract. Despite controlling MRTC’s board, MPIC only holds a fraction of the MRT line’s economic benefits.

http://business.inquirer.net/98791/palace-oks-proposed-govt-takeover-of-mrt-3

Monday, December 17, 2012

Stock News 2012: Robinsons Magnolia Is ‘Green Mall’

Fotoloco Smart Parenting @ Robinsons Magnolia Grids 245 (Photo credit: FOTOLOCO!)

Robinsons Magnolia Mall, which was opened recently, has been certified as a green infrastructure by the local government of Quezon City, making it the “First Green Mall Building” in the country’s most populous city.

In a statement, the Gokongwei-led Robinsons Land Corp. said the four-level retail complex was awarded the certificate in ceremonies in City Hall. It was found to have strictly adhered to the stringent standards set under the city government’s Green Building Ordinance of 2009, which requires the design, construction or retrofitting of building, other structures and movable properties to meet minimum standards of a green infrastructure.

The awarding of the green building certification now makes the Robinsons Magnolia Mall, located along the bustling corner of Aurora Boulevard and Hemady Street, a showcase of sustainable development practices.

According to Arlene G. Magtibay, Robinsons Malls’ General Manager, “We are very glad that Robinsons Magnolia has been certified as Quezon City’s first Green Mall Building. We have always been concerned that our developments work with and not against the environment, and we are happy that the QC government shares the same vision and has recognized our efforts towards this common goal.”

Magtibay said that RLC’s 32nd mall was installed with skylight and glass curtains that allow natural lighting, a move that is expected to rake in huge energy savings for the company.

To further reduce its carbon footprint, Robinsons Magnolia Mall used the more energy efficient colored LED (light emitting diode) light fixtures for the façade.

Compared with normal high wattage metal halide lamps, the LED lighting saves 50 percent in energy consumption.

In the interior, the mall resorted to high efficient light fixtures that saves energy by 30 percent.

Robinsons Magnolia likewise treats the wastewater coming from its sewage treatment plant (STP) and recycles the wastewater for use in cleaning, flushing toilets and irrigation. It has installed rainwater collectors which help reduce its usage of fresh water.

http://www.mb.com.ph/articles/384175/robinsons-magnolia-is-green-mall#.UMKGS-Smj3w

Sunday, November 18, 2012

Stock News 2012: Pepsi unit posts 208% growth in 9-month profit

Pepsi logo (2003-08). Initially, the "Pepsi" script was written across the top of the globe. In 2007 when the packaging was again redesigned, the script was moved below the globe. It was used in countries outside the US until 2010. (Photo credit: Wikipedia)

Beverage-maker Pepsi-Cola Products Philippines Inc. tripled its net profit in the first nine months as sales expanded even during the third quarter, when the country was hit by heavy monsoon rains.

PCPPI reported that its January-September net profit jumped by 208.3 percent year on year to P696 million. For the third quarter alone, net income grew by about 1 percent year on year to P119.33 million despite adverse seasonality factors.

“The third quarter of the year is typically a difficult period for the beverage industry due to seasonality. This year, it was further compounded by the heavy rains in July and August. Our notable achievements across brands and categories were driven by a better-than-expected performance in carbonated softdrinks, particularly in the cola segment,” PCPPI president Partho Chakrabarti said.

“With our top-line growth continuing to outperform industry growth for yet another quarter, we are poised to significantly exceed our full-year targets”, Chakrabarti said.

Gross sales, fueled by robust sales volume performance across brands and categories, grew by 6.5 percent year on year to P5.24 billion for the third quarter and by 13 percent to P16.56 billion year to date.

Due to higher sales volume, cost of sales rose by 6 percent in the third quarter and by 5 percent during the nine months to September compared to year-ago levels. However, as a percentage of net sales, cost of sales decreased by 6 percentage points during the nine-month period versus 2011 levels. This is attributed to the 27-percent drop in the average sugar price.

Cost of sales includes raw and packaging materials expenses, direct labor cost and manufacturing overhead.

The company’s gross profit reached P3.83 billion for the nine-month period, representing an increase of 42 percent compared to year-ago level.

PCPPI’s strong first half-year growth allowed the company to make strategic investments in the third quarter of the year, resulting in increases in operating expenses as a percentage of net sales by 2 percentage points for the three-month period and 1 percentage point for the nine-month period from year-ago levels.

Operating expenses—consisting of selling and distribution, general and administrative, and marketing expenses—remained at manageable levels.

http://business.inquirer.net/92406/pepsi-unit-posts-208-growth-in-9-month-profit

Monday, November 5, 2012

Stock News 2012: ALI pushes P20-B entertainment complex

Makati Skyline, Philippines (Photo credit: ibarra_svd)

Property giant Ayala Land Inc. is going full throttle to transform Makati City into the nation’s premiere financial and entertainment district with the development of the Philippine Racing Club Inc.’s former race track in Sta. Ana into a P20-billion entertainment complex.

The project forms part of ALI’s P60-billion investment plan for six major districts in Makati for the next 10 years.

The property, said to be the last big piece of property in Makati, will be converted into a township with recreational, entertainment, commercial, retail, office, residential and even hotel facilities.

“We will be launching this in two weeks and will be able to give budget details then,” said Antonino T. Aquino, president of ALI.

PRCI will contribute to the joint venture its entire 21-hectare property, which used to be the site of its horse-racing operations until 2008. The property is located along the inner portion of Pasong Tamo in Makati City.

ALI, on the other hand, will undertake the development of the large-scale project, which could take 10 years to complete.

PRCI and ALI will share in the revenues to be generated from the project, which will sell residential units as well as lease out office and commercial space.

Six years ago, ALI also partnered with with Manila Jockey Club to develop the latter’s former San Lazaro racetrack area in Sta. Cruz, Manila.

ALI has been aggressively expanding its property investments, having launched several projects this year.

In Makati alone, the company has committed to invest around P60 billion in six distinct and complementary districts – Makati North (young and creative), Makati central business district (business), Ayala Triangle Gardens (urban oasis), Makati South (transport hub), and Sta.Ana (Makati’s entertainment district) covering a total of 70 hectares.

In Quezon City, ALI will build a P65-billion new central business district hub in the North Triangle area over a 10-year period. Dubbed Ventris North, the project will include office and residential towers, commercial buildings and recreational facilities.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=866820

Wednesday, October 31, 2012

Stock News 2012: Nat'l Bookstore buys into Vulcan

Vulcan (Photo credit: jk_scotland)

National Bookstore Inc., which is owned by the family of businessman Alfredo Ramos, is acquiring P12.86 million worth of shares of listed mining firm Vulcan Industrial & Mining Corp.

In separate disclosures to the Philippine Stock Exchange, Anglo Philippine Holdings Corp. and Philodrill said they were selling to NBS 12.25 million shares and 610,000 shares, respectively, in Vulcan at P1 each share.

The sale will be crossed on the Philippine Stock Exchange on Nov. 5.

Vulcan is increasing its authorized capital to P4 billion from only P500 million to facilitate the entry of the NBS, while Vulcan prepares to exit the mining business.

The country’s leading bookstore chain, which is considering a backdoor listing on the exchange via Vulcan, will subscribe to up to P2.9 billion worth of shares in the mining firm.

The capital increase will also accommodate the conversion into equity of advances of about P500 million from NBS and its affiliates.

Newly-elected Vulcan treasurer Adrian Ramos said the company is considering all options but stressed that nothing has been finalized yet.

Vulcan’s board approved the possibility of exiting the mining sector and formed formed a committee to look into alternative exit strategies.

Alfredo, the president of NBS is the incumbent chairman and president of Vulcan.

http://www.philstar.com/Article.aspx?articleId=865166&publicationSubCategoryId=66

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