Robinsons Land Corp. (RLC), the real estate development arm of Gokongwei flagship JG Summit Holdings Inc., reported a 42-percent jump in net profit for its fiscal year ending September 2007, buoyed by the strong growth in its leasing operations and higher sales from residential projects.
RLC posted a net income of P2.44 billion last year from P1.72 billion in 2006. Revenues likewise grew 29 percent from P6.97 billion to P8.99 billion on record sales and higher recurring income.
“All business units performed remarkably well. Our drive to build our brand and be responsive to market demands made our performance possible. The strategic initiatives and expansion programs we had pursued in recent years continue to bear fruit,” said RLC president and chief operating officer Frederick D. Go in a statement.
RLC’s commercial centers division accounted for 39 percent of total revenues, contributing P3.54 billion or an increase of 7.9 percent from the previous year’s P3.28 billion, mainly coming from anchor malls Robinsons Galleria and Robinsons Place Manila. The improved performance of RLC’s malls in Pioneer in Mandaluyong, Bacolod and Novaliches also boosted sales of the commercial centers division.
Go said the group’s focus on recovering expenses resulted in improved profitability while operating initiatives on improving tenant mix, brand building, and improving mall facilities and amenities continued to attract a growing mix of clientele.
Five of RLC’s malls now house call centers and business process outsourcing (BPO) firms, adding to the wide geographical reach of its shopping centers around the country that made it a choice landlord for BPO companies looking for new areas for expansion, he said.
RLC recently completed The Midtown Wing, an expansion of Robinsons Place Manila and Robinsons Place Otis, a strip mall with a BPO office component adjacent to a prime residential development.
Malls currently under construction are in Bulacan, Dumaguete, Nueva Ecija and Tagaytay.
The high rise residential buildings division, on the other hand, contributed 40 percent to total revenues, posting a 60-percent rise in revenues from P2.27 billion to P3.63 billion.
“Residential condominiums and other upper middle real estate products developed by the division continue to be well received by its target markets. Strong domestic sales and the rapid expansion of its international marketing operations, now in North America, Europe and the Middle East, have boosted pre-selling efforts,” Go said.
The high-rise buildings division has 11 condominium and two office building projects, namely Fifth Avenue Place and McKinley Park Residences in Fort Bonifacio Global City; Gateway Garden Heights and Gateway Garden Ridge in Robinsons Pioneer Complex; Two Adriatico Place, Three Adriatico Place and Otis 888 Residences in Manila; East of Galleria in Ortigas Center; Woodsville Viverde Mansions Building 1, 2 & 3 and office building Robinsons Cybergate Tower 3 and Robinsons Cybergate Plaza.
The office buildings division, meanwhile, registered a 77-percent jump in lease income as all of its projects have been quickly taken up by leading BPO players. It has five office buildings located in Metro Manila’s major central business districts — Galleria Corporate Center, Robinsons Equitable Tower, Robinsons Summit Center and Robinsons Cybergate Center Towers 1 and 2.
Rental revenues amounted to P570.6 million versus the previous year’s P322.9 million, largely due to the opening of Robinsons Cybergate Center Tower 2 as well as increased occupancy rate and generally healthy rental rates in all of its office properties.
The housing and land development division recorded revenues of P715.8 million, up 39 percent from the year ago’s P514.9 million.
Zinnia B. Dela Peña
January 31, 2008
http://www.robinsonsoffices.com/jan-mar2008.html
Thursday, January 31, 2008
Tuesday, January 29, 2008
Stock News 2008: Robinsons Land taps JP Morgan for global cash management services
Robinsons Land Corp. (RLC), the property development arm of Gokongwei flagship JG Summit Holdings Inc., has forged a strategic alliance with JPMorgan Chase Bank NA to strengthen its fund management services for the international market.
In a disclosure to the Philippine Stock Exchange, RLC vice president for operations Kerwin Tan said the company is tapping the cash management services of the New York-listed global financial services company.
“The increased efficiency brought about by JPMorgan’s cash management services will expedite clearing periods for international checks, resulting in much-quicker turnaround time and convenience for Robinsons Land’s growing number of buyers based in the US, Europe and Asia,” he said. No other details were given by the company.
JPMorgan is a leading global financial services firm with assets of $1.6 trillion and operations in more than 50 countries. It is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity.
A component of the Dow Jones Industrial Average, JPMorgan has its corporate headquarters in New York and its US retail financial services and commercial banking headquarters in Chicago. Under its JPMorgan and Chase brands, the firm serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients.
Tan said by partnering with JP Morgan, RLC will be able to leverage on JP Morgan’s economies of scale, global reach and expertise to help grow their global past print and thus deliver greater efficiencies to their businesses and clients.
“The move is a forward looking approach to meet the demands of the international markets,” Tan said. At present, PLC’s recently launched projects have overseas Filipinos workers (OFWs) and balikbayans as primary target buyers.
According to the National Statistics Office, there are approximately eight million OFWS around the world, comprising nearly 10 percent of the Philippine population, and an estimated 4,500 Filipinos leave daily to work abroad.
Zinnia B. Dela Peña
January 29, 2008
http://www.robinsonsoffices.com/jan-mar2008.html
In a disclosure to the Philippine Stock Exchange, RLC vice president for operations Kerwin Tan said the company is tapping the cash management services of the New York-listed global financial services company.
“The increased efficiency brought about by JPMorgan’s cash management services will expedite clearing periods for international checks, resulting in much-quicker turnaround time and convenience for Robinsons Land’s growing number of buyers based in the US, Europe and Asia,” he said. No other details were given by the company.
JPMorgan is a leading global financial services firm with assets of $1.6 trillion and operations in more than 50 countries. It is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity.
A component of the Dow Jones Industrial Average, JPMorgan has its corporate headquarters in New York and its US retail financial services and commercial banking headquarters in Chicago. Under its JPMorgan and Chase brands, the firm serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients.
Tan said by partnering with JP Morgan, RLC will be able to leverage on JP Morgan’s economies of scale, global reach and expertise to help grow their global past print and thus deliver greater efficiencies to their businesses and clients.
“The move is a forward looking approach to meet the demands of the international markets,” Tan said. At present, PLC’s recently launched projects have overseas Filipinos workers (OFWs) and balikbayans as primary target buyers.
According to the National Statistics Office, there are approximately eight million OFWS around the world, comprising nearly 10 percent of the Philippine population, and an estimated 4,500 Filipinos leave daily to work abroad.
Zinnia B. Dela Peña
January 29, 2008
http://www.robinsonsoffices.com/jan-mar2008.html
Thursday, December 20, 2007
Stock News 2007: RLC develops first in Cebu
Image via WikipediaRobinsons Land Corporation (RLC)’s Housing and Land Development Division recently launched The Blue Coast Residences, its first upper mid-cost residential subdivision Mactan, Cebu together with Aspen Heights a mid-cost residential subdivision in Consolacion, Cebu, in a well-attended event held at Marriot Hotel.Located in Barangay Punta Engaño, Lapu-Lapu City, The Blue Coast Residences is an exclusive 3.37 hectare residential resort project that is strategically situated near world-class hotels and spa resorts. The Mactan Shangrila Hotel and Cebu Hilton Hotel are among the famous landmarks near the project site, which faces Magellan Bay. From the project site, it only takes less than 5 minutes drive to get to Mactan International Airport.
Inspired by American architecture, this residential resort community offers first class amenities such as gate and guardhouse, wading and spa pool, infinity pool, a bird’s fountain, gazebo, multi-purpose clubhouse and multi-purpose hall and administration building. “Lots only” and townhouse packages are currently available.
According to RHI Senior Vice President and General Manager Marilu M. Alferez, “The Blue Coast Residences is perfect for individuals and families who demand high quality, luxurious living. A haven where they can foster a love of nature yet prefer privacy and tranquility in a modest lifestyle.”
Aspen Heights, on the other hand, is a 25-hectare residential subdivision located in Consolacion, Cebu. From the project’s highest point, the entire island of Mactan can be best viewed. Aspen Heights offers “lot only” with option of housing package.
Robinsons Homes Inc. is the housing and land development division of Robinsons Land Corporation, one of the leading developers in the Philippines. With 26 residential communities and commercial subdivision projects all over the country, Robinsons Homes Inc. continues to serve the market by providing quality housing projects, as well as in-house financing, in addition to existing bank and government financing institutions. For more information, please contact: Robinsons Land Corporation – Housing and Land Development Division Sales and Marketing Department Tel. (632) 683 7328 / (632) 683 6358. Website: www.robinsonshomes.com.ph
http://www.philippine-builder.com/news/newsflash/138-rlc-develops-first-in-cebu.html
Monday, November 19, 2007
Stock News 2007: Real Estate Who is Who The Legends and Builders
Real Estate Who is Who
The Legends and Builders
BizNewsAsia
November 19-26, 2007
http://www.robinsonsoffices.com/Oct-dec2007.html
The Legends and Builders
BizNewsAsia
November 19-26, 2007
http://www.robinsonsoffices.com/Oct-dec2007.html
Saturday, October 27, 2007
Stock News 2010: Robinsons Land Purchases 5-hectare Property in Cebu for Its First High-end Leisure Community
Image via WikipediaRobinsons Land Corporation expands its robust property portfolio across the country as it disclosed plans to develop the first master-planned condo-resort community in Mactan, Cebu.The country’s second largest diversified real estate company recently acquired a prime 5-hectare property with a 170-meter beachfront in Punta Engaño district in Mactan, Cebu. It shall be designed to be the first leisure community development of Robinsons Land.
Tourism and business hub of the South
Cebu’s tourism potential and its being the investors’ preferred headquarters in Southern Philippines add to Robinsons Land’s high hopes for its new project and the region itself.
The historic province of Cebu, touted as the gateway to two-thirds of the country’s major islands, has been recording upbeat tourism figures lately. Total foreign arrivals and domestic travels in the first half of the year show substantial growth of 20%, as against last year’s records for the same period. The first six months of the year saw Koreans topping the island’s foreign guest list, followed by the Japanese and the Americans.
Similarly, the local government has recognized Cebu’s tourism potential and has been actively formulating marketing strategies to achieve targets for its 5-year tourism plan, such as tourism missions in Europe. It is also counting on the emerging markets of China, Russia, India, and fellow ASEAN countries to boost its foreign arrivals.
Cebu has also been regarded as a premier business destination in the South, having been part of the Philippine Cyber Corridor masterplan that runs through Baguio, Manila, and Davao. The said vision crafted by the national government aimed to boost telecommunications and technology, and included empowering regions to provide information technology (IT)-related services. Multinational information technology firms and contact centers have likewise found their new homes in Cebu in the recent years, thereby attracting talents also from its neighboring provinces. The development of Cebu’s business parks also serves as a testament to the business-friendly environment of Cebu.
Robinsons Land’s top executives are confident that the organization is ready to maximize the company’s expertise in developing mixed-use communities in promising areas outside Metro Manila. The abounding possibilities in Cebu affirm Robinsons Land’s move to explore opportunities in the Queen City of the South.
Homegrown business
Mixed-use communities, composed of hospitality and residential developments, have been Robinsons Land’s strength. President and Chief Operating Officer Frederick D. Go notes, “Robinsons Land Corporation has gained its formidable status and esteemed name with its strategically located residential condominiums, hotels, and commercial centers that are of world-class quality. Having accomplished this feat, we will now build a landmark five-star condo-resort project in Cebu.”
Go cites that Robinsons Land’s mother company, JG Summit Holdings Inc., traces its roots to Cebu, as founder John Gokongwei, Jr. began his post-war trading business in his hometown. The humble trading activity ventured into by the young Gokongwei in local sailboats over five decades ago has paved the way for the birth of J.G. Summit Holdings Inc., which is now among the Philippines’ largest conglomerates. It holds diverse interests in branded consumer foods, agro-industrial and commodity food products, textile, telecommunications, petrochemicals, air transportation and financial services. This same entrepreneurial spirit of Gokongwei has eventually led him to be one of the country’s only seven billionaires.
Today, Robinsons Land Corporation is among the most profitable businesses of J.G. Summit Holdings Inc., with its 18 malls, 23 residential subdivisions, 22 residential condominiums, 6 office buildings and 4 hotels. It has pioneered several developments in key cities, where it launched its other notable projects such as Galleria Regency, East of Galleria, The Trion Towers, Fifth Avenue Place, Adriatico Residences, and One Gateway Place. With the timely completion and delivery of its residential condominium projects, Robinsons Land Corporation remains today’s property developer of choice of investors and end-users, both local and foreign alike. On the other hand, its status as the top office landlord of business process outsourcers and multinational firms is credited to its development of centrally located office buildings across the metropolis.
Philippine Daily Inquirer
October 27, 2007
http://www.robinsonsoffices.com/Oct-dec2007.html
Thursday, October 18, 2007
Stock News 2010: 3 Companies To Join Key Stock Index
Image via WikipediaMANILA, Philippines--Geothermal power producer PNOC Energy Development Corp. and property firms Filinvest Land Inc. and Robinsons Land Corp. will be added to the benchmark Philippine Stock Exchange index (PSEi) on Nov. 16, the PSE said.The PSE said it had reviewed the index components from July 1, 2006 to June 30, 2007.
It will remove Security Bank Corp. and Manila Mining Corp. from the PSEi. With the addition of three, the PSEi will consist of 30 companies.
To be eligible for inclusion in the PSEi, a company must have the following: a free float level of at least 10 percent; liquidity or average daily trading value of at least P5 million; volume turnover ratio of at least 10 percent; tradability of at least 95 percent of the total trading days; and free float market capitalization.
PSE president Francis Lim said in a statement that in 2005 the PSE decided to do a regular free float-based review of the indices as part of a program to encourage more companies to expand their ownership and help the stock market grow.
“The absence of a regular index review breeds complacency among the listed companies. Such complacency does not benefit the market or the listed companies,” Lim said.
Based on the PSE’s latest review, all the six sector indices -- financial, industrial, holding firms, property, services, mining -- will also undergo changes in composition.
Asiatrust Development Bank Inc., CitisecOnline.com. Inc., and the PSE’s own listed stock will be added to the financial index. To be removed will be Equitable PCI Bank after its merger with Banco de Oro Universal Bank (now renamed Banco de Oro-EPCI Inc.).
Companies in the industrial index will increase 19 from 13 with the addition of Alliance Tuna International Inc., Chemrez Technologies Inc. (formerly Corro-Coat Inc.), Picop Resources Inc., PNOC-EDC, Republic Cement Corp., and Trans-Asia Oil and Energy Development Corp.
Companies in the holding firms index will increase to 21 from 12 with the inclusion of 10 and removal of one, Unioil Resources and Holdings Co. Inc. The additions will be Abacus Consolidated Resources and Holdings Inc., Alcorn Gold Resources Corp., Alsons Consolidated Resources Inc., Eton Properties Philippines Inc. (formerly Balabac Resources & Holdings Co. Inc.), House of Investments Inc., Minerales Industries Corp. (formerly Multitech Investments Corp.), Pacifica Inc., Prime Orion Philippines Inc., Sinophil Corp., and Wellex Industries Inc.
Nine companies will be added in the “property index” while one (Kuok Philippine Properties Inc.) will be dropped. The additions will be A Brown Co. Inc., Ever Gotesco Resources & Holdings Inc., Fil-Estate Land Inc., Interport Resources Corp., Metro Pacific Investments Corp., MRC Allied Industries Inc., Shang Properties Inc., Suntrust Home Developers Inc., and Uniwide Holdings Inc.
The services index will have four new companies: Asian Terminals Inc., Ionics Inc., ISM Communications Corp., and Premiere Entertainment Productions Inc.
To the mining and oil index will be added Basic Energy Corp. and United Paragon Mining Corp.
http://www.robinsonsoffices.com/Oct-dec2007.html
Wednesday, October 17, 2007
Stock News 2007: Philippine Stock Exchange PNOC-EDC in, Manila Mining out
Image via WikipediaMANILA, Philippines -- Geothermal power producer PNOC Energy Development Corp. and property developers Robinsons Land Corp. and Filinvest Land Inc. will become constituents of the 30-company composite index of the Philippine Stock Exchange by November 16, the bourse said Wednesday.Manila Mining Corp. and Security Bank will be excluded from the main index following the PSE's regular review of the market indices, it said in a notice to brokers.
The key index has 29 constituents at present, after Banco de Oro Universal Bank merged with Equitable PCI Bank, another index constituent, early this year.
Enrico dela Cruz
October 17, 2007
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