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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, Philip...
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

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Sunday, January 6, 2013

Stock News 2013: Villar Property to Sell Treasury Shares

Finance - Financial injection - Finance
Finance - Financial injection - Finance (Photo credit: @Doug88888)

The board of property developer Vista Land & Lifescapes, Inc. has cleared the sale of all the company’s treasury shares to take advantage of perceived strong investor demand and in a bid to boost liquidity, the Villar-led firm said in a disclosure yesterday.

“On Jan. 3, the board of directors of Vista Land authorized the company to sell all of its existing treasury shares totaling 133.91 million shares to meet demand from investors and increase liquidity of the company’s shares of stock,” the disclosure read.

Vista Land’s management team was tasked to determine the terms and conditions of the planned share sale.

“The board likewise authorized the implementation of all necessary corporate and other actions to proceed with the sale of the aforementioned treasury shares, and further authorized and empowered management to determine and decide on the price at which the treasury shares shall be sold,” the disclosure added.

The Philippine Stock Exchange defines treasury shares as “shares of stock which were previously issued and fully paid, but subsequently reacquired by the issuing corporation by purchase, redemption, donation, or through some other lawful means.”

Treasury shares are not considered outstanding, are non-voting and are not included in dividend issuances.

http://www.bworldonline.com/content.php?section=Corporate&title=Villar-property-company-to-sell-all-treasury-shares&id=63741

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Saturday, January 5, 2013

Stock News 2013: Vista Land releases more shares into the market

English: A Benchmark For Stocks and Shares. A ...
English: A Benchmark For Stocks and Shares. A bench and the stocks, which two felons could share, on Sheriff Hutton village green (Photo credit: Wikipedia)

Property Developer Vista Land & Lifescapes, Inc. boosted the number of stocks for trading after selling all of its treasury shares for roughly P636.07 million, the Villar-led company said in a disclosure on Friday.

The transaction involved a total of 133.91 million shares sold at P4.75 apiece.

The sale increased the company’s outstanding and common shares to 8,538,740,614 from 8,404,830,614.

The Philippine Stock Exchange defines treasury shares as “shares of stock which were previously issued and fully paid, but subsequently reacquired by the issuing corporation by purchase, redemption, donation, or through some other lawful means.”

Treasury shares are non-voting, non-outstanding, and not included in dividend issuances.

A Vista Land officer said on Thursday that the company decided to sell all its treasury shares to take advantage of perceived big demand and to boost its liquidity.

http://www.bworldonline.com/content.php?section=Corporate&title=Vista-Land-releases-more-shares-into-the-market&id=63768

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Friday, January 4, 2013

Stock News 2013: PSEi soars past 5,900

English: Barack Obama delivers a speech at the...
English: Barack Obama delivers a speech at the University of Southern California (Video of the speech) (Photo credit: Wikipedia)

STOCKS surged to a new all-time high at the close of Thursday’s trades, piercing through the 5,900 barrier for the first time as investors stayed bullish after US President Barack Obama signed legislation formally ending the so-called “fiscal cliff” crisis that would have meant tax hikes and spending cuts feared to spark another recession.

The Philippine Stock Exchange index (PSEi) rallied by 73.06 points or 1.25% to close at 5,934.05, its second all-time high for the year in as many days. The broader all-share index climbed by 36.09 points or 0.97% to 3,762.88.

The PSEi last peaked on Wednesday, the first trading day of the year, when it advanced by 48.26 points or 0.83% to close at 5,860.99 on the back of news that US solons finally green-lighted a bill ending protracted fiscal cliff talks.

“The market [yesterday] ended up by around 73 points, another all-time high, as Asian and US markets went up again [the previous] night. Market sentiment was also positive ahead of expected corporate spending in the first quarter,” said Elizabeth S. Abadillo, analyst at brokerage Angping & Associates Securities, Inc., in a text message yesterday.

http://www.bworldonline.com/content.php?section=StockMarket&title=PSEi-soars-past-5,900&id=63721

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Thursday, January 3, 2013

Stock News 2013: BDO opens office in Singapore

SM Investments Corporation
SM Investments Corporation (Photo credit: Wikipedia)

Sy-led BDO Unibank, Inc. (BDO) on Wednesday said it has set up a representative office in Singapore.

The banking giant hopes to boost its relations with companies doing business in the city-state.

BDO's representative office in Singapore is located at the new One Raffles Place. The office is expected to act as the point of contact for Singaporean companies keen on entering the Philippine market, as well as Philippine companies interested in expanding in Singapore.

"The opening of the Singapore representative office is expected to enhance relationships further and find ways to better serve and work alongside Singaporean firms, thereby living up to BDO's service-oriented culture," BDO said in a statement.

BDO is a member of the SM Group, one of the country’s largest conglomerates which has retail, mall, property development and financial services units.

http://www.abs-cbnnews.com/business/01/02/13/bdo-opens-office-singapore

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Wednesday, January 2, 2013

Stock News 2013: EastWest doubles branch network in 2012

Visayas, Philippines
Visayas, Philippines (Photo credit: Andy*Enero)

Gotianun-led East West Banking Corp. doubled its branches to 245 last year from 122 in 2011 amid aggressive expansion efforts, the bank said in a disclosure Wednesday.

The bank opened 123 new stores in 2012 in various locations in Metro Manila, Luzon, Visayas and Mindanao.

"EastWest's commitment to its shareholders was to open new stores around the country at a rapid pace, which it has fervently pursued," the bank said.

"The bank plans to continue with its store expansion and grow its network to at least 350 by 2014."

EastWest saw its net income grow by 12% to P1.36 billion in the nine months to September last year from the same period in 2011, buoyed by trading gains and profits from lending.

http://www.abs-cbnnews.com/business/01/02/13/eastwest-doubles-branch-network-2012

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Tuesday, January 1, 2013

Stock News 2013: TV5 braces up for more losses

Logo used from August 9, 2008 to April 3, 2010...
Logo used from August 9, 2008 to April 3, 2010. Now as a secondary logo. (Photo credit: Wikipedia)

Pangilinan-led Associated Broadcasting Corp. (ABC), operator of television network TV5, will continue to post heavy losses in 2013 as the company struggles to compete with rivals that corner the lion’s share of industry ad revenues.

TV5 chair Manuel V. Pangilinan said the company had also struggled to keep costs down amid efforts to complete the network’s program lineup and hire talents.

“TV5 will continue to struggle,” Pangilinan told reporters at a recent briefing. “It will take longer than expected to make profits,” he said.

“There’s a lot of cost-cutting and we still have to finalize our program grid,” he said, adding that production costs would still rise as the company continued creating more shows.

TV5 earlier said it was targeting 2014 as its first year of profitability under the Pangilinan group, which took control of the network in 2009.

Earlier this year, TV5 president and CEO Ray C. Espinosa said the company’s profit target was under review due to factors that had not been identified when the goals were first set. One of the factors was the debt crisis in Europe, which led to a cut in advertising spending by multinational companies operating in the Philippines.

TV5’s bigger rivals, GMA Network Inc. and ABS-CBN Corp., have seen their revenues trimmed this year due to an industry-wide drop in advertising spending.

In the first half of 2012, TV5 lost P2.8 billion and this would likely be matched in the second half of 2012, Pangilinan said. This means the whole-year loss would exceed the P4.1 billion it lost in 2011.

While losses would remain big in 2013, TV5 aims to increase revenues with better programming during the primetime slot, when ad minutes are most expensive, said Pangilinan.

“The key variable when we were starting was Willie Revillame. We needed someone like him to give the first boost for TV5 … to anchor the primetime,” he said.

He said that since the gameshow host had agreed to move his show to the noontime slot, the primetime slot was freed for more shows that the company could sell to advertisers.

http://business.inquirer.net/99963/more-airlines-flying-to-ph-if-govt-scraps-carriers-tax-ftip-official

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