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Thursday, February 11, 2010

Stock News 2010: Meralco sees higher energy sales in 2010

MeralcoImage via WikipediaMANILA, Philippines - Manila Electric Co. (Meralco) is expecting its energy sales to bounce back to pre-crisis levels this year, given its strong performance last month.
"Based on indications from our January sales, we have recovered to 2008 levels for all customer segments," Meralco president Jose de Jesus told reporters on Thursday. The company is set to release its official figures at the end of the month.
"Our sales almost correlates with the growth in the economy. There are signs that it could become positive," he added.
With this development, Meralco head for utility economics Ivanna dela Pena said they may raise their flat growth sales forecast for 2009. The company had projected a 3% growth for 2010.
"We would need to look at these new figures. We have to take into account the impact of El Nino because that is also a factor for our growth projection," dela Pena said.
http://www.abs-cbnnews.com/business/02/11/10/meralco-sees-higher-energy-sales-year
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Thursday, February 4, 2010

Stock News 2010: Globe Telecom declares P40/share cash dividend

LogoImage via WikipediaMANILA, Philippines - Globe Telecom Inc., the Philippines' second-largest telecommunications firm, has declared a cash dividend of P40 per common share.
The first semi-annual cash dividend worth P5.3 billion is 42% of the Ayala-led firm's 2009 net income. Globe Telecom shareholders of record as of February 19 will receive the cash dividend on March 15.
The move is in line with Globe Telecom's new policy of distributing between 75% to 90% of the company's profits in the previous year.
"It has been always been our aim to provide superior returns to our shareholders and this first semi-annual cash dividend shows our commitment to achieving this vision," Globe Telecom president and chief executive officer Ernest Cu said in a statement released Thursday.
"In addition to generating good returns, the increase in regular payout will also help ensure that our debt-to-equity ratios stay at optimum levels," he added.
Globe Telecom reported an 11% rise in profits last year to P12.6 billion on non-recurring gains in the first half of 2009. Core net income, on the other hand, increased by 2% to P12 billion.
http://www.abs-cbnnews.com/business/02/04/10/globe-telecom-declares-p40share-cash-dividend
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Friday, January 15, 2010

Stock News 2010: PEZA-backed Robinsons Cybergate Cebu opens

Skyline of Cebu CityImage via WikipediaMANILA, Philippines - Cebu City, ranked by Tholons International as the number one city among the world’s Top 50 Emerging Global Outsourcing Cities, is the host of Robinsons Land Corporation’s latest mixed-use project, Robinsons Cybergate Cebu.
While Cebu is also considered premier tourist destination, it is the second most popular destination of business process outsourcing (BPO) companies, next to Metro Manila, since it provides the infrastructure, amenities and the balanced lifestyle that draws BPO companies to set shop.
Opened last Dec. 9, 2009, Robinsons Cybergate Cebu is a seven-story mixed-use development with dining options, a medical and wellness component designed to supplement the services offered by the adjacent Chong Hua Hospital and other medical facilities and three floors for office. The new medical-commercial development sits on a 5,000-square meter lot and will have a gross leasable area of 12,500 square meters. It will have a total of 55 shops and restaurants as well as 35 wellness clinics.
The PEZA-accredited project located along J. Llorente St. corner Don Gil Garcia St. and facing Fuente Osmena Circle will be offering a complete work, relax, distress environment. The building is also equipped with full back-up power generators and utilizes the flexible VRF/VRV air-conditioning system perfect for companies who are conscious about work hours flexibility and cost savings.
Given its location at the heart of Metro Cebu, Robinsons Cybergate Cebu has unmatched accessibility and within the vicinity of Cebu’s major universities and colleges that provide an annual college graduating pool of 20,000 allowing ease in recruitment and potential employment.
http://www.robinsonsoffices.com/news.html
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Thursday, January 14, 2010

Stock News 2010: Acentic Acquired by PhilWeb Corporation and ISM Communications Corp

Sepia photograph of the "Atlas" stat...Image via WikipediaAcquisition paves the way for launch for expansion of Digital TV and HSIA services to the Asia and Middle East markets
Acentic, a leading supplier of digital interactive TV (iTV) systems for the hotel industry is pleased to announce the acquisition of the company by PhilWeb Corp. (WEB) and ISM Communications Corp. (ISM) which acquired a 65% stake in Acentic on January 11, 2010. The acquisition allows Acentic to further extend their digital TV and high speed internet access (HSIA) services throughout the European market and expand to the Asia-Pacific region, the fastest growing hotel market in the world.
The acquisition also strengthens the gaming offering Acentic will provide to its current and future hotel customers. WEB is one of the leading gaming and e-gaming technology companies in Asia.
"We are very excited about the entry of WEB and ISM in Acentic and about taking Acentic to the next level," said Alistair Forbes, CEO, Acentic. "Our digital TV and HSIA services are already in many of the world's leading hotel chains in Europe but as a perfect fit to the information technology business of ISM and the gaming expertise of WEB, we will be able to include Asia-Pacific in the list of growing regions that Acentic's in room hotel services are available in."
On December 24, 2009, WEB and ISM informed the Philippine Stock Exchange that through a jointly and equally owned Hong Kong special purpose vehicle entered into a binding agreement with Global Innovation Partners (GI Partners), a private equity firm based in the United Kingdom (UK), for the acquisition of a controlling 65% stake in Acentic. The remaining 35% of Acentic will continue to be owned by Niantic Holding GmbH, a German company controlled by Dr. Andreas Jacobs.
Forbes added: "Acentic's technology complements the information technology and telecommunications business of ISM as well as the gaming expertise of WEB. We're looking forward to the changes and growth this new dynamic brings to the Acentic family in 2010 and beyond. As a company that has always been dedicated to customer service and quality products, we remain dedicated to keeping our hotels happy and helping them deliver the best in room services possible to their guests.
"The substantial number of hotel rooms currently under contract to Acentic and the imminent roll out of Acentic Asia provides WEB with enormous opportunities to expand its gaming business, which is today limited only to the Philippine market, to many other major countries principally in Europe and the Middle East," said Dennis Valdez, President, PhilWeb (WEB). "WEB will have an instant platform of 200,000 rooms in Europe as a market for its internet gaming offerings. WEB's participation in the acquisition of Acentic will enable WEB to have a quantum increase in its business prospects worldwide and well beyond just the Philippine market."
According to Lodging Economics' latest Asia Pacific Pipeline Report, the Asia Pacific hotel pipeline is the second largest in the world and this region has two of the fastest growing economies in the world, China and India, with over 208,847 hotel rooms in the pipeline in China alone.
About Acentic
Acentic is an international provider of digital TV services to hotels. Acentic's digital content, technology, support and services deliver entertainment and revenue generation tools via the hotel television, providing a unique communications system that meets the evolving lifestyles of guests. Acentic's digital TV services are in many of the world's leading hotel chains including Accor, Dorint, Intercontinental Hotel Group, Hilton, Hyatt, Maritim, Marriott, Mövenpick and Starwood in more than 30 countries in Europe, Middle East and Africa. For more information, visit www.acentic.com.
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Stock News 2010: RLC profit up to P3.3B

Berjaya Times Square Shopping Mall, Hotel, & S...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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Friday, December 11, 2009

Stock News 2009: Philippines' RLC Opens Robinsons Cybergate Cebu Complex

Cebu Island as seen across the Cebu StraitImage via WikipediaCEBU CITY, Dec 11, 2009 (AsiaPulse via COMTEX) --
Robinsons Land Inc. (RLC, PSE:RLC) has opened its multi-million-peso Robinsons Cybergate Cebu, a mixed-use project that fuses office, wellness and retail into one development.
Robinsons Cybergate Cebu is the newest is the newest high-rise building around the Fuente Osmena rotunda in the heart of Cebu City and is just across the Robinson mall and Cebu Midtown Hotel.
RLC general manager Nilo Mapa Jr. said the project is a testament to the companys intention to expand its presence in Cebu.
Momot Irizari, RLC-Cebu group property manager for the commercial centers division, said 80 percent of leasable space of the seven-story building is already booked.
RLC is still negotiating with various business process outsourcing (BPO) companies for its 6,300-square-meter space allocated for a call center operation.
Hopefully, by the end of the year we will be able to sign a deal with a company for the BPO space, she said.
She said that right now, inquiries come from BPO players that have existing operations in Cebu and those that have yet to locate here.
But RLC is open to have more than one BPO locator to occupy the fifth to seventh floor of the building, depending on the need of the company.
Since the call center is open on a 24-hour shift, some of the retail and food tenants have also agreed to operate 24/7, like the pharmacy, convenience stores and the coffee shop.
The first two floors of the Robinsons Cybergate Cebu features food and retail outlets, including homegrown restaurants Mooon Cafe, Flame It and Golden Cowrie. The second level also features a food court, where food kiosks and carts are located.
The third floor of the building is dedicated to its wellness component and this includes salons and spa operators.
The fourth floor is where the medical clinics are found and Irizari said a number of medical practitioners are going to open clinics there, ranging from internal medicine doctors, obstetricians, dentists and orthopedics.
Although the structure is already 100 percent complete, some finishing touches and final fit-outs have yet to be done. RLC is looking at holding a grand opening or a building inauguration by the third quarter of 2010.
Irizari said RLC is already looking ahead to the start of initial ground work for a similar development at the North Reclamation Area in Cebu City.
The development of RLCs 45,000-square-meter property, located near the old White Gold department store, is set to open in 2011.
Though still a mixed-use project, it will have a different concept from the Robinsons Cybergate Cebu.
Irizari said the still unnamed project will have a supermarket, department store, al fresco dining, a serviced-apartment component and a convention center.
December 11, 2009
http://www.tradingmarkets.com/.site/news/Stock%20News/2717041/
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Wednesday, October 14, 2009

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

Mandaluyong CityImage 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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