Stock News 2010: Vista Land starts P1-B lifestyle complex

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The country’s largest homebuilder Vista Land & Lifescapes, Inc. is spending P1 billion for its first commercial and lifestyle development to be located in the Evia master-planned city in Las Piñas City.

Vista Land president Benjamarie N. Serrano said the groundbreaking of the Lifestyle Center has been set for December and the P1 billion will be spent in the next six months.

“We are looking at total capital expenditures of about P11 billion in the next five years for Evia, as we build out major components including the Lifestyle Center, the Riverwalk, the church, and the University Town, together with continuing residential developments,” said Serrano.

These already thriving components consist of three high-end, mid-range and entry-level residential and commercial projects of Vista Land’s Brittany, Crown Asia and Camella brands which now have almost 5,500 residential units on about 150 hectares.

http://www.mb.com.ph/node/290047/vi

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Stock News 2010: Jollibee net P711M in Q3, up by 32%

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MANILA, Philippines—Fastfood giant Jollibee Foods Corp. grew its third-quarter net profit by 31.8 percent to P711 million from a year ago on higher retail sales and better margins from its worldwide restaurant network.

This brought JFC’s nine-month net profit to P2.15 billion, up by 16.2 percent year on year, on the back of P38.42 billion in revenue.

JFC chief executive officer Tony Tan Caktiong disclosed to the Philippine Stock Exchange on Thursday that sales were robust in practically all brands led by a double-digit growth rate in the turnover of its flagship Jollibee brand.

“Today, more people eat in each Jollibee store in the Philippines than in each of the past two years due to higher product value appreciation as rated by consumers in market research,” he said.

Systemwide sales—a measure of all sales to consumers—amounted to P16.88 billion in the third quarter and P50.79 billion for the nine-month period, both up by around 10 percent. Philippine sales rose by 7.7 percent while foreign sales grew by 20.5 percent year on year in the quarter.

http://business.inquirer.net/money/topstories/view/20101111-302711/Jollibee-net-P711M-in-Q3-up-by-32

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Stock News 2010: CitisecOnline income reaches P79.2M in Q3

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MANILA, Philippines—Leading online stockbroker CitisecOnline.com Inc. grew its third-quarter consolidated net profit by 10.9 percent to P79.2 million as strong Philippine operations made up for sluggish output from its overseas unit in Hong Kong.

This brought COL’s nine-month net profit to P188.8 million, down by 5.4 percent from a year ago, weighed down by the overseas operations.

“We are very pleased with the results of our Philippine operations. Initiatives to grow the business by educating, equipping and empowering the Filipino retail investors are clearly paying off as evidenced by the significant growth in the number of our customer accounts and the size of their equity. It is even more encouraging that the bulk of our new customers are first-time investors in the stock market,” COL president Conrado Bate said.

http://business.inquirer.net/money/topstories/view/20101111-302716/CitisecOnline-income-reaches-P792M-in-Q3

International News 2010: Apple beats Blackberry maker in smartphone sales

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SINGAPORE (AFP) – Apple has for the first time outpaced Blackberry-maker Research in Motion in global smartphone sales thanks to the success of its iPhone 4, a report said Friday.

Industry tracker IDC said Apple sold 14.1 million iPhone units in the third quarter while Canada's Research in Motion shipped 12.4 million Blackberry devices.

"The company's record shipment performance can be attributed to the introduction of the iPhone 4 in 17 new countries last quarter," said the International Data Corporation (IDC).

"The record performance came despite 'Antennagate,' the name used to describe the controversy around alleged iPhone reception problems, in July."

Global mobile phone sales surged 14.6 percent to 340.5 million units in the third quarter from a year earlier, driven mainly by the strong appetite for smartphones, IDC said.

Apple ranked as the fourth largest mobile phone vendor in the third quarter with Research in Motion one place behind the US giant, according to IDC's quarterly tracker of the industry.

IDC said Apple's rise to the top five showed the growth potential of smartphones.

"The entrance of Apple to the top five vendor ranking underscores the increased importance of smartphones to the overall market," said Kevin Restivo, a senior research analyst with IDC.

"Moreover, the mobile phone makers that are delivering popular smartphone models are among the fastest growing firms.... Vendors that aren't developing a strong portfolio of smartphones will be challenged to maintain and grow market share in the future."

http://www.mb.com.ph/node/284963/apple-beat

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International News 2010: Legendary Asian brand continues to make ripples around the world

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Credit goes to a Chinese herbalist named Aw Chu Kin from Xiamen, China for creating the legendary Asian brand, Tiger Balm--a combination of various special blends like camphor and menthol and other aromatic oils in order to provide remedy to daily pain.

It was no surprise that Tiger Balm grew to become one of the world’s leading topical analgesics ever since it was introduced almost 100 years ago.

The product of Aw’s ingenuity did not escape the eyes of his two sons, Aw Boon Haw and Aw Boon Par, whose entrepreneurial acumen quickly saw the potential in their father’s creation. The brothers gave it the name “Tiger Balm,” the word “Tiger” being the English version of “Haw”, and symbolizing strength and vitality. They established their main headquarters in Singapore in 1926.

Tiger Balm captured the attention of global markets like the United States and Europe with its unique formulation and became a leading topical analgesic brand in the United States; a high no. 5 in its category.

Its position in the United Kingdom is also something to be proud of as it reached no. 10, ranking among other muscle and body pain ointments in an otherwise discriminating market.

Now present in nearly 100 countries worldwide, Tiger Balm has set phenomenal standards of success to which only few Asian brands can lay claim. Its current slogan is “works wherever it hurts.”

http://www.mb.com.ph/articles/285201/legendary-asian-brand-continues-make-ripples-around-world

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International News 2010: Hurley stepping down as YouTube chief executive

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SAN FRANCISCO (AFP) – YouTube co-founder Chad Hurley is stepping down as head of the online video-sharing superstar bought by Google for 1.65 billion dollars in 2006.

"For the past two years, I've taken on more of an advisory role at YouTube as Salar Kamangar has led the company's day-to-day operations," Hurley said in a statement released by YouTube on Friday.

"I will continue to serve as an advisor and am excited to witness the next phase of YouTube's growth."

Google web applications vice president Kamangar is filling the chief executive seat vacated by Hurley.

Google does not release revenue figures for YouTube, but senior executives have boasted that revenues from display advertising at the service is climbing and suggested recently that it is near profitability.

YouTube has been gradually adding professional content such as full-length television shows and movies to its vast trove of amateur video offerings in a bid to attract advertisers.

http://www.mb.com.ph/articles/284973/hurley-stepping-down-youtube-chief-executive

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Stock News 2010: PSE Revamps Index, 3 Firms to Be Replaced

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MANILA, Philippines – The Philippine Stock Exchange (PSE) said Thursday that its latest revision of the composite Philippine Stock Exchange Index (PSEi) will see three stocks - diversified San Miguel Corp. (SMC), Security Bank Corp. (SECB) and broadcast company GMA Network Inc. (GMA7) – dropped from the roster of 30 companies comprising the bellwether index.

The three stocks will be replaced by construction, mining and property group DMCI Holdings Inc. (DMC), power generation company First Gen Corp. (FGEN) and conglomerate JG Summit Holdings Inc. (JGS), the bourse said.

The revisions to the PSEi and other sectoral indices will be implemented on Nov. 8.

The PSE's corporate services division said San Miguel was dropped from the PSEi as its free float level declined to 8.6 percent, below the minimum requirement of 10 percent. GMA Network and Security Bank failed to make it to the exchange's list of top 30 companies in terms of market capitalization, the division added.

The other requirements for inclusion on the PSEi is liquidity or average daily trading value of at least P5 million, tradability of at least 95 percent of total trading days and volume turnover ratio of at least 10 percent.

http://www.mb.com.ph/articles/284742/pse-revamps-index-3-firms-be-replaced

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