Stock News 2011: Vista Land Unveils P10-B Development

Image via WikipediaTop home developer Vista Land and Lifescapes, Inc. is ramping up to P10 billion its investment in the Presidio, a residential and commercial enclave within the 60-hectare Vistaland Lakefront master-planned city in Sucat.

Vista Residences chief operating officer Maribeth C. Tolentino said their vertical housing unit is planning to put up five more mid-rise residential condominium clusters in the 7-hectare Presidio.

She said the additional cluster buildings will range from 5- to 15-storeys each with about 400 units and a total cost of P2 billion for all five buildings. Lakefront features an array of San Francisco-inspired residential enclaves that offer leisure and lifestyle choices.

Lakefront is strategically located in Sucat, which is seen as a natural extension to Makati and Bonifacio Global City.

Sucat is envisioned to be the next central business district due to its easy access to the airport, South Luzon Expressway and the Philippine National Railway as well as schools, malls, and offices in nearby Makati, Bonifacio, Ortigas and Alabang.

Tolentino said Presidio will consist of 12 mid-rise cluster buildings offering a total of 1,200 residential units. Seven cluster buildings with a total of 795 units have already been completed.

http://mb.com.ph/articles/339223/vista-land-unveils-p10b-development

Stock News 2011: SMC to complete purchase of 77% of ETPI from Ongpin

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Diversifying giant San Miguel Corporation is completing its acquisition of Roberto V. Ongpin-controlled ISM Communications Corporation’s 77 percent stake in Eastern Telecommunications Philippines Inc.

In a disclosure to the Philippine Stock Exchange, SMC said its wholly-owned subsidiary San Miguel Equity Securities Inc. has executed a share purchase agreement with ISM for the purchase of 37.7 percent of ETPI.

The purchase was authorized by the SMC board of directors during its meetings held on December 16, 2010 and September 22, 2011.

SMC had earlier acquired a 40 percent stake in ETPI from ISM through wholly-owned unit Vega Telecom Inc.

Vega has executed a Share Purchase Agreement with ISM last December 30 for the purchase by Vega of 100 percent of the outstanding and issued shares of stock of A. G. N. Philippines, Inc. (AGNP).

AGNP is the registered and beneficial owner of approximately 40 percent of Eastern Telecom. SMC said the acquisition of AGNP was authorized by its Board of Directors during its meeting held on December 16, 2010.

ISM president Eric Recto said earlier that SMC is in talks with his company for the sale of the ISM’s entire 77-percent stake in Eastern Telecoms.

For his part, Eastern Telecoms head for marketing and business development Edwin Domingo said the company plans to create a synergy with SMC-led Liberty Telecom Holdings Inc.

Later on, ETPI, Express Telecommunications Inc. and Liberty may be folded into one company. “It could be like a San Miguel telecom company,” Domingo said.

In the meantime, Domingo said ETPI is helping Liberty set up parts of the Liberty’s infrastructure.

http://mb.com.ph/articles/338493/smc-complete-purchase-77-etpi-ongpin

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Stock News 2011: BCDA to sell small lots

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The Bases Conversion Development Authority is set to issue the terms of reference for the sale of the remaining small parcels of lots in Fort Bonifacio before end this year.

BCDA vice-president for Business Development and Operations Dean J. Santiago said there are two parcels in Fort Bonifacio one is located in the Eastgate parking and another in the Sampaguita ramp. A third property is a one-hectare parcel located in the Villamor Driving Range. These lots could fetch about P500 million for BCDA.

“We are going to issue the terms of reference for the bidding of these small parcels,” he said.

Notice of publication has been set for October 10 this year to pave the way for bidding before end this year.

Awarding of contract of sale is estimated to be early January 2012.

Santiago said the disposition mode for these assets would be outright sale because these are smaller lots. The Villamor lot is ideal for the establishment of institutional projects like schools while the Sampaguita ramp could be ideal for a small commercial development. The EastGate lot would be suited for parking.

http://mb.com.ph/articles/337347/bcda-sell-small-lots

Stock News 2011: Grepalife-managed mutual funds surpass P3-B sales in Q3

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Grepalife Asset Management Corporation (GAMC), the mutual fund management arm of Yuchengco Group of Companies, has marked its presence in the mutual fund market by surpassing P3.2 billion gross sales mark as of the end of the third quarter of 2011. Based on data from the Philippine Investment Fund Association (PIFA) as of the period ended August 2011, GAMC-managed mutual funds likewise dominated total net sales (difference between gross sales and redemptions) among bond mutual funds invested in foreign currency securities by increasing net assets by P1.3 billion representing 106% share in total net sales growth for all funds in the same category. Industry data likewise revealed some competitor funds have experienced negative net sales in the same period.

Butch L. Lustado, Assistant General Manager of GAMC claims that the stable returns have allowed their company to grow their assets under management to over P4.6 billion by the end of the third quarter of 2011. “Our investors are by and large very satisfied with the way we handle their hard-earned funds and keep them informed about it,” says Lustado. GAMC has an on-demand account inquiry service for investors via SMS and the Internet.

http://mb.com.ph/articles/337019/grepalifemanaged-mutual-funds-surpass-p3b-sales-q3

Stock News 2011: SMDC tops NCR's condominium sales

Image via WikipediaSM Development Corporation (SMDC) has again garnered the top spot in National Capital Region or Metro Manila’s competitive residential condominium market.

According to a recent Colliers International Philippines report, SMDC sold the most number of Metro Manila residential condominium units and attained the highest amount in terms of sales value during the first half of 2011.

This continues the trend of SMDC topping the list for the past two years as cited by similar Colliers studies.

Based on the Colliers report, SMDC sold 4,117 residential condominium units from January to June 2011 worth P9.0 billion. This translates to a 22 percent market share in terms of number of units sold in an industry with more than 90 players.

SMDC currently has in its portfolio 15 residential projects, 14 of which are in Metro Manila and one in Tagaytay City. Six projects namely Berkeley Residences, Chateau Elysee, Mezza Residences, Field Residences, Grass Residences, and Sea Residences are ready for occupancy.

This year, the company launched two of its latest projects, Mezza II Residences, which is located at the corner of Aurora Boulevard and Guirayan Street in Quezon City and is very near SM City Sta. Mesa, and M Place @ Ortigas, located along Meralco Avenue in the heart of the Ortigas Commerical Business District in Pasig City.

http://mb.com.ph/articles/336234/smdc-tops-ncrs-condominium-sales

Stock News 2011: ALI developing former PRC racetrack

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Property giant Ayala Land Inc. is planning to develop the 21-hectare former racetrack of Philippine Racing Club Inc. into the entertainment district of Makati City.

In an interview, ALI Strategic Landbank Management Group vice president Anna Bautista-Dy said ALI will take advantage of the property’s being near a river and should be launching projects by next year.

“We’d like more live performances, spaces for gathering around, more river-facing projects, perhaps a boardwalk along the river,” she said adding that it will be “more of an outdoor oriented retail, entertaining component.”

ALI and subsidiary Alveo Land Corporation have signed a deal with PRCI earlier this year for the mixed-use development of PRCI’s property in Bgy. Carmona, Makati City.

PRCI corporate secretary Jesulito Manalo disclosed to the Philippine Stock Exchange that, under the agreement, PRCI will contribute its 21 hectare lot for its joint development into a mixed-use real estate project.

ALI chief finance office Jaime Ysmael said the project will form part of ALI’s ongoing developments in the City of Makati but specific details are not yet available and will be disclosed later.

http://mb.com.ph/articles/335825/ali-developing-former-prc-racetrack

Stock News 2011: Smc's 8-Month Income Up 70%

Image via WikipediaSan Miguel Corp. (SMC) net income rose 70 percent in the eight months through August from a year ago on acquisitions of oil-refining and power-generation assets, a person familiar with the company’s financial data said.

The Philippines’ biggest listed company also had revenue that rose by two and a half times, while earnings before interest, taxes, depreciation and amortization almost doubled, the person, who declined to be identified because the information is private, said. San Miguel last month reported first-half profit rose 72 percent to P10.8 billion.

The company that started as a brewer more than a century ago has been expanding into oil refining, power retailing and infrastructure to triple the return it previously earned from food and drinks. Oil refining unit Petron Corp. accounts for about a third of the Philippine oil market, while SMC Global Power Holdings Corp. controls 17.5 percent of the nation’s power generation capacity. The power unit plans to raise as much as P27.3 billion in an initial public offering.

San Miguel will pay a cash dividend of 35 centavos per common share and P1.50 for each Series 1 preferred stock held, it told the stock exchange today, after close of trading.

Profit in the first three quarters of 2010 was P12.7 billion, the company said in a November 2010 statement.

http://mb.com.ph/articles/335434/smcs-8month-income-up-70

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