Property developer Century Properties Group Inc. grew its 2011 net profit attributable to parent equity holders by 284 percent to P864.5 million on higher revenues from real estate operations.
Including non-controlling interests, CPG’s net profit last year expanded by 382.2 percent to P866.1 million from the previous year.
For 2012, CPG chief finance officer Jose Carlo Antonio said the firm’s pre-sales for the first quarter hit P5.3 billion consisting of 812 units, keeping it on track to hitting its P20-billion pre-sales goal for this year.
Century plans to at least double this year its P866-million profit last year.
“We remain upbeat about the Philippine economy and property sector and our first-quarter results strengthened our resolve to deliver differentiated projects across multiple price points,” Antonio said.
In the meantime, CPG’s board approved the release of dividends of 10 percent of 2011 income, or P85.4 million.
For 2011, CPG grew its sales by 53 percent to P4.7 billion. Revenues booked from real estate sales amounted to P3.76 billion, up 43.9 percent from the year before. This was due to significant construction progress in The Gramercy Residences, The Knightsbridge Residences and the Rio Building in Azure Urban Resort Residences.
http://business.inquirer.net/53825/century-properties-profit-up-284
Monday, April 16, 2012
Wednesday, April 11, 2012
Stock News 2012: Security Bank, First Metro bag Virata awards
For the seventh straight year, Security Bank has won the 2011 “Best Securities House” also known as the Cesar EA Virata Award, given annually by the Philippine Dealing System Holdings Corp. and Subsidiaries group for the banking category.
First Metro Investment Corp. bagged the Cesar EA Virata award for the newly created investment house category.
The awards were named in honor of former Prime Minister Cesar Virata, a veteran banker who was a key proponent of the establishment of the fixed-income trading platform in the country now operated by PDS’ unit, Philippine Dealing and Exchange Corp.
For the bank category, the award is given to a bank trading participant that had an “exceptional” performance in trading, distribution and settlement activities. Security Bank has won this award every single year since the annual PDS awards started in 2006.
The newly created category for investment house is given to an investment house trading participant that had an exceptional performance in trading and distribution as well as in the origination, underwriting and market-making of outstanding listed corporate securities.
http://business.inquirer.net/53133/security-bank-first-metro-bag-virata-awards
First Metro Investment Corp. bagged the Cesar EA Virata award for the newly created investment house category.
The awards were named in honor of former Prime Minister Cesar Virata, a veteran banker who was a key proponent of the establishment of the fixed-income trading platform in the country now operated by PDS’ unit, Philippine Dealing and Exchange Corp.
For the bank category, the award is given to a bank trading participant that had an “exceptional” performance in trading, distribution and settlement activities. Security Bank has won this award every single year since the annual PDS awards started in 2006.
The newly created category for investment house is given to an investment house trading participant that had an exceptional performance in trading and distribution as well as in the origination, underwriting and market-making of outstanding listed corporate securities.
http://business.inquirer.net/53133/security-bank-first-metro-bag-virata-awards
Tuesday, April 10, 2012
Stock News 2012: Vista Land inks long-term deal with Rustan's
Villar-led home builder Vista Land & Lifescapes Inc., signed a long-term lease agreement with Tantoco-owned Rustan’s Supercenters Inc.
In a disclosure to the Philippine Stock Exchange (PSE), Vista Land said Rustan’s Fresh Supermarket will be the anchor store in the first commercial building in Evia, its flagship development located in Las Piñas City.
Vista Land has already developed about 300 hectares of land in Evia, where the company currently offers residential house and lot units under its Brittany, Crown Asia, and Camella brands.
Manuel Paolo Villar, Vista Land’s chief executive officer, said: “Our company is pleased to be a partner with one of the country’s leading high-end supermarket chains, whose track record speaks for itself. We are extremely optimistic that Rustan’s will be very successful in Evia, and we look forward to other potential partnerships with the Rustan’s group in the future.”
For his part, Rustan’s president and CEO Donnie Tantoco said: “We are very optimistic about this partnership. Vista Land’s track record of success and its vision of providing quality housing for all is congruent with our own vision of bringing quality goods and experiences to every market that we enter. We look forward to the success of this development and to future projects together.”
Founded in 1998, Rustan’s Supercenters Inc. operates the Shopwise chain of hypermarkets and Rustan’s Supermarkets. It currently operates over 30 stores nationwide.
Vista Land said the move towards commercial developments in the area was part of Vista Land’s overall strategy since the residential projects have already reached “critical mass.”
Maria Leni Luya, Vista Land’s head of commercial operations, said that aside from Rustan’s, the group has also received offers from other major commercial operators that wish to set up shop in Evia.
http://www.philstar.com/Article.aspx?articleId=795046&publicationSubCategoryId=66
In a disclosure to the Philippine Stock Exchange (PSE), Vista Land said Rustan’s Fresh Supermarket will be the anchor store in the first commercial building in Evia, its flagship development located in Las Piñas City.
Vista Land has already developed about 300 hectares of land in Evia, where the company currently offers residential house and lot units under its Brittany, Crown Asia, and Camella brands.
Manuel Paolo Villar, Vista Land’s chief executive officer, said: “Our company is pleased to be a partner with one of the country’s leading high-end supermarket chains, whose track record speaks for itself. We are extremely optimistic that Rustan’s will be very successful in Evia, and we look forward to other potential partnerships with the Rustan’s group in the future.”
For his part, Rustan’s president and CEO Donnie Tantoco said: “We are very optimistic about this partnership. Vista Land’s track record of success and its vision of providing quality housing for all is congruent with our own vision of bringing quality goods and experiences to every market that we enter. We look forward to the success of this development and to future projects together.”
Founded in 1998, Rustan’s Supercenters Inc. operates the Shopwise chain of hypermarkets and Rustan’s Supermarkets. It currently operates over 30 stores nationwide.
Vista Land said the move towards commercial developments in the area was part of Vista Land’s overall strategy since the residential projects have already reached “critical mass.”
Maria Leni Luya, Vista Land’s head of commercial operations, said that aside from Rustan’s, the group has also received offers from other major commercial operators that wish to set up shop in Evia.
http://www.philstar.com/Article.aspx?articleId=795046&publicationSubCategoryId=66
Monday, April 9, 2012
Stock News 2012: PAL, AirPhil set refleeting programs
Philippine Airlines, which recently took in the San Miguel Corp as a new investor, is seen investing as much as $1 billion for a fleet modernization program that will make the storied flag carrier more competitive.
Ramon S. Ang, president of SMC who signed a deal last week to acquire 49 percent each of PAL Holdings and Air Philippines Corp., said the conglomerate welcomed “the opportunity to participate in the refleeting and modernization plans of the two airlines.”
In a text message, Ang said the fleet modernization would cost at least $500 million to as much as $1 billion.
The $500-million minimum requirement is what SMC is infusing into several holding firms that will result in its equity investment in PAL and AirPhil, where the conglomerate is expected to exercise management control even if the majority stake would remain with the group of taipan Lucio Tan.
In a statement jointly issued by the Lucio Tan group and SMC, the two groups said the new partnership would “allow the two airlines to strengthen operations and stay competitive with the implementation of PAL and AirPhil’s fleet modernization program.”
Industry sources explained that because SMC’s entry into PAL and AirPhil would involve the issuance of new shares, new money would flow into the carriers. For capital spending beyond $500 million, the source said the airlines could fund this through debt rather than equity so as not to disrupt the existing capital structure.
http://business.inquirer.net/52951/pal-airphil-set-refleeting-programs
Ramon S. Ang, president of SMC who signed a deal last week to acquire 49 percent each of PAL Holdings and Air Philippines Corp., said the conglomerate welcomed “the opportunity to participate in the refleeting and modernization plans of the two airlines.”
In a text message, Ang said the fleet modernization would cost at least $500 million to as much as $1 billion.
The $500-million minimum requirement is what SMC is infusing into several holding firms that will result in its equity investment in PAL and AirPhil, where the conglomerate is expected to exercise management control even if the majority stake would remain with the group of taipan Lucio Tan.
In a statement jointly issued by the Lucio Tan group and SMC, the two groups said the new partnership would “allow the two airlines to strengthen operations and stay competitive with the implementation of PAL and AirPhil’s fleet modernization program.”
Industry sources explained that because SMC’s entry into PAL and AirPhil would involve the issuance of new shares, new money would flow into the carriers. For capital spending beyond $500 million, the source said the airlines could fund this through debt rather than equity so as not to disrupt the existing capital structure.
http://business.inquirer.net/52951/pal-airphil-set-refleeting-programs
Stock News 2012: New product from URC
Whatever the season, pastries never fail to delight the Filipino palate. One of the most popular treats is mamon, the Pinoy version of the well-loved sponge cake. With its simple yet irresistibly soft and buttery texture, it’s no wonder it has made its way onto every food-lover’s merienda time throughout the years. Jack ‘n Jill Espesyal, the newest brand from Universal Robina Corp. (URC), lets food-lovers delight in the special mamon goodness that they know and love with its new Espesyal Mamon, Mamon Cups and Mamon De Leche. The Jack ‘n Jill Espesyal Mamon is light and subtly sweet. Its soft and buttery goodness can also be enjoyed in smaller servings with the Mamon Cups, which are perfect for sharing with families and friends.
http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=795072
http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=795072
Friday, April 6, 2012
Stock News 2012: Solaire Manila to open by 1st quarter of 2013
The first phase of Solaire Manila, a new resort and gaming complex in Pagcor's Entertainment City, is expected to open by the first quarter of 2013, according to Bloomberry Resorts Corp.
In a disclosure to the stock exchange, Bloomberry said construction of phase 1 of Solaire Manila is expected to be completed by the fourth quarter of 2012.
Bloomberry, a property company led by ports magnate Enrique Razon, owns Solaire Manila through its subsidiary Sureste Properties Inc.
Phase 1 of Solaire Manila will consist of 27,700 square meters of gaming area. The casino will have 1,200 slot machines and 300 gaming tables. It will have a hotel with 500 rooms, several restaurants, multilevel parking building with 3,000 parking slots, as well as a grand ballroom, spa and bayview promenade.
Bloomberry said Solaire Manila will provide a first-glass gaming experience to customers, from mass market to VIPs. The company aims to provide VIP gaming experience at par with international casinos.
Solaire Manila has hired former casino executives from Macau and Las Vegas to be part of its management team. Michael French a, former senior vice-president of City of Dreams Macau, was named chief operating officer. Xingyu (Ed) Chen, ex-financial controller of Wynn Resort Macau, was named chief financial officer.
In a disclosure to the stock exchange, Bloomberry said construction of phase 1 of Solaire Manila is expected to be completed by the fourth quarter of 2012.
Bloomberry, a property company led by ports magnate Enrique Razon, owns Solaire Manila through its subsidiary Sureste Properties Inc.
Phase 1 of Solaire Manila will consist of 27,700 square meters of gaming area. The casino will have 1,200 slot machines and 300 gaming tables. It will have a hotel with 500 rooms, several restaurants, multilevel parking building with 3,000 parking slots, as well as a grand ballroom, spa and bayview promenade.
Bloomberry said Solaire Manila will provide a first-glass gaming experience to customers, from mass market to VIPs. The company aims to provide VIP gaming experience at par with international casinos.
Solaire Manila has hired former casino executives from Macau and Las Vegas to be part of its management team. Michael French a, former senior vice-president of City of Dreams Macau, was named chief operating officer. Xingyu (Ed) Chen, ex-financial controller of Wynn Resort Macau, was named chief financial officer.
Monday, April 2, 2012
Stock News 2012: Alliance Global posts record P11.6-B profit
Casino logo (Photo credit: Wikipedia)Alliance Global Group Inc. (AGI), the listed holding firm of real estate tycoon Andrew Tan, jacked up its net income by 68 percent last year to a record P11.6 billion on robust growth of its property business.
In a financial report submitted to the Philippine Stock Exchange, AGI said revenues hit an all-time high of P66.1 billion or an increase of 48.5 percent from the year before.
AGI chief financial officer Dina Inting said the company booked a non-recurring gain of P3.1 billion from the acquisition of a subsidiary during the period. The recurring portion alone translated into a 22 percent year-on-year profit growth.
As of end-December 2011, AGI’s total cash and cash resources stood at P49 billion.
Property arm Megaworld Corp. chipped in P28.6 billion or 40 percent of AGI’s total revenues. The amount is 39 percent higher than the 2010 level.
As a result, Megaworld reported a 60 percent growth in net income to P8.15 billion, boosted by a non- recurring gain of P2 billion from the sale of AGI shares of stock. Without this, its profit is still up 21 percent year on year.
Megaworld’s performance was backed by strong sales from its residential projects in Newport City, McKinley West and McKinley Hill, Eastwood City as well as strong leasing income from its BPO and retail portfolio.
Revenues and profits from the food and beverage, quick services restaurants and integrated tourism businesses likewise grew in line with targets, AGI said.
Food and beverage arm Emperador Distillers produces Emperador, Generoso and Emperador Light brandies and a line of flavored alcoholic beverages called The Bar.
Golden Arches Development Corp. operates the quick service restaurant business under the McDonald’s brand while Travellers International Hotel Group, a joint venture with Genting Hong Kong, operates Resorts World Manila, the first integrated tourism estate in the country.
http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=801327
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