Publicly-listed Vista Land and Lifescapes, Inc., the country’s largest homebuilder, has declared a special cash dividend in the amount of four centavos per share.
Shortly after Vista Land’s annual stockholder’s meeting on June 15, 2012, the company’s Board of Directors held an organizational meeting during which it approved the declaration of a special cash dividend in an amount equal to approximately 10% of the company’s consolidated net income for the year ended Dec. 31, 2011.
The record date for the special dividend is on July 2, 2012, while the payment date will be on July 26, 2012.
Vista Land recently reported its first quarter results, announcing that the company’s net income for the first quarter of the year compared to the first quarter of 2011 rose by 22 percent to P1.060 billion from P873 million, while revenues exceeded P4 billion.
“In view of Vista Land’s excellent performance and strongly positive outlook, we are pleased to once again reward our loyal shareholders with a special cash dividend as we had done last year,” stated Manuel Paolo Villar, Vista Land’s president and chief executive officer. “This of course will be over and above the company’s regular cash dividend, which is usually formally approved during the second half of the year,” he added.
http://www.philstar.com/Article.aspx?articleId=818240&publicationSubCategoryId=66
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Monday, June 18, 2012
Stock News 2012: Telecom industry to remain competitive
The telecommunications industry is expected to remain very competitive, more so that competition will come not only from existing and new telcos but also from services offered by “over the top” players of the Internet world, Philippine Long Distance Telephone Co. (PLDT) group chairman Manuel V. Pangilinan said.
During the company’s stockholders’ meeting, he noted that players like Facebook, Google and Apple directly compete with PLDT’s traditional services.
“The radical changes that digital technologies are bringing to the telecoms industry will become more pervasive and profound in the next few years,” Pangilinan said.
He emphasized that these forces are changing the face of communications — from keypads and keyboards to touch screens of various sizes. “Increasingly, people are communicating with each other through smartphones, tablets, laptops and smart TVs. From voice and text, connections whether wired or wireless are becoming broadband and multimedia. In five years, the market will, in growing numbers, be populated by ‘digital natives’ — young people who have grown up with mobile phones, Facebook, Twitter and YouTube,” he added.
Pangilinan revealed that the PLDT of the emerging digital future will be one of many touchscreens, and will offer and support a wide range of services beyond basic communications.
“We will help people enjoy entertainment, use financial services, manage their energy needs at home and office, take care of their health,” he said.
Pangilinan also revealed that since having being acquired by the PLDT group, Sun Cellular has been improving its coverage, starting with Mindanao where it has strengthened its signal in Lanao del Norte and Sur, Basilan, Camiguin, Tawi-tawi, Sulu, Bukidnon, Compostela Valley, and Davao del Sur. This was followed by Luzon in areas like Benguet, Ifugao, Kalinga Apayao and Mountain Province, Isabela, Nueva Ecija and Vizcaya, Aurora, and Quirino, and in the Visayan islands of Panay and Bohol.
In maximizing the synergies among PLDT, Smart, Digitel and Sun, Pangilinan noted that they have rationalized the group’s network rollout by minimizing duplication which has resulted in reducing capital expenditure by P8 billion
He revealed that by the end of this month, they will have completed the installation in every cellsite of Smart all over the country a new generation of base station equipment. This will allow the group to quickly upgrade to the latest mobile phone technologies such as HSPA+ and LTE, as and when their plans and market demand requires.
Within this year, he said that they will have upgraded their transport network with over 54,000 km of fiber optic cable assets that will allow the group to carry up to 10 times more data to handle the rapidly growing traffic in voice, SMS and data traffic. In addition, PLDT will be installing its third and fourth cable landing station to enhance international cable links. The company will also finish the upgrade of its core networks and backroom facilities for both fixed and mobile by yearend
All this, he stressed, will require an investment of about P38 billion this year, bringing the total bill for PLDT’s modernization program to about P67 billion.
http://www.philstar.com/Article.aspx?articleId=818220&publicationSubCategoryId=66
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Sunday, June 17, 2012
Stock News 2012: Universal Robina eyes new acquisitions
Gokongwei-led food and beverage firm Universal Robina Corp. is exploring potential targets in the snacks and confectionery business as it eyes opportunities for growth and expansion, according to a top company official.
BJ Sebastian, senior vice-president and chief strategist at URC, said the company intends to further strengthen its commanding position in the snack food industry through acquisitions.
He said the firm is also looking to beef up its beverage business but declined to give more details.
Sebastian refused to comment whether these planned acquisitions involved domestic or international brands.
Funding for the planned acquisitions, will come from proceeds of a recently concluded sale of treasury shares. URC raised P7.4 billion from the offering of 120 million common shares previously held as treasury shares at P62 each share.
URC, the country’s snack foods giant, markets well-known products such as Chiz Curls, Potato Chips, Chippy, Piattos, V-Cut, Taquitos, Mr. Chips, Tostillas, Tortillos, Spuds and Sea Crunch, all under the Jack n’ Jill brand.
URC is also the dominant market leader in candies, chocolates, biscuits, cup noodles and tea beverage.
The company is a trendsetter in the beverage industry with its coffee and ready-to-drink products. It grew the local non-carbonated beverage market with the successful launch of C2 Cool & Clean Green Tea, building on the global trend towards health and wellness.
URC later forayed into other areas of the non-carbonated beverage market, such as juices, energy drinks, and ready-to-drink coffee, among others.
Founded in 1954 by its chairman, Taipan John L. Gokongwei Jr., URC has been the aggressive and innovative frontrunner in the snack food industry, making it the leading snack food supplier to supermarkets in the Philippines.
The company’s products are available in the Philippines, China, Indonesia, Malaysia and Thailand. Plans are now underway to set up shop in Burma as it expects international operations to grow as big as its domestic business in five years.
http://www.philstar.com/Article.aspx?articleId=818248&publicationSubCategoryId=66
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Stock News 2012: Shang Properties eyes more acquisitions
Entering its third decade as a premier real estate developer, Shang Properties Inc. of Malaysia’s Kuok Group is on the lookout for potential sites it can add to its portfolio as a sign of growing confidence in the Philippine economy.
“Shang Properties is confident about the Philippine’s economic environment and is expanding our land bank for future investments. We remain well-positioned to actively participate in the property development sector,” said company chairman Edward Kuok in his report to shareholders.
Kuok said the company remains committed to be the leading developer and manager of prime properties in the country through product innovation and excellent service.
Milen Treichler, Shang Properties marketing manager, said the company is looking to further expand its presence in Makati, Fort Bonifacio and Ortigas as it aims to capitalize on a resilient, domestic-driven economy and the government’s aggressive pump-priming activities.
The government is boosting spending to a record this year as it seeks to spur the $200 billion economy’s growth rate to as fast as eight percent from about five percent last year.
It also aims to take advantage of historically low interest rates available today, which is seen to further prop up consumer spending.
Shang Properties is constructing three large-scale projects simultaneously —One Shangri-La Place in Ortigas Center, Shangri-La Hotel at the Fort, and the Shang Salcedo Place in Makati — with a combined development cost of P37.3 billion. The amount includes the P1.8 billion earmarked for renovations of the existing Shangri-La mall, its park building and estate.
Bulk of the P37.3 billion or P18 billion will be spent on the Shangri-La Hotel at the Fort, in which the group has a 40 percent stake. The project, in partnership with Hong Kong listed affiliate Shangri-La Asia Ltd. and Alphaland Development Inc., will feature a 577-room Shangri-La Hotel, 97 serviced apartments, and 99 luxurious residential condominium units.
Construction of the two-tower One Shangri-La Place, the group’s largest development to date commenced in October 2009 and has now reached the 10th level. Both towers which will be 64-storys high, offer a total of 1,304 residential units, of which 60 percent have already been sold to date, generating sales revenues of P6.6 billion. The residences are targeted for completion in 2014.
Development cost for the project, which will rise above the six-level Shangri-La Plaza mall expansion, was pegged at P12.5 billion. Slated for opening in 2013, the new mall will be home to over 150 shops and restaurants and two levels of basement parking.
The upscale residences are slated for completion in 2014.
The company has earmarked around P5 billion for the 64-story Shang Salcedo Place, which will rise on 3,045 square meter lot in Salcedo Village. The project will make available a total of 778 units with a total gross floor area of 60,900 square meters. Pre-selling commenced in May 2012.
In the first quarter this year, Shang Properties reported a 48.8 percent growth in net income to P298 million on the back of a 30.6 percent rise in sales.
Condominium sales amounted to P205.3 million, mainly driven by One Shang Place sales.
http://www.philstar.com/Article.aspx?articleId=818232&publicationSubCategoryId=66
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Saturday, June 16, 2012
Stock News 2012: Acesite declares 250% stock dividend
Acesite (Philippines) Hotel Corp. recently disclosed to the Philippine Stock Exchange the declaration of a 250 percent stock dividend for stockholders of record as of June 25, 2012.
The board of directors of Acesite in a meeting held last June 11, approved the distribution of the 246,248,270 shares with par value of P1 or P246,248,270 to cover dividends declared in payment of the increase in capital stock on or before July 19, 2012.
The announcement was made by the board as part of their commitment and in appreciation of the continuing support of the investing public manifested throughout the years. “This is one way of giving back to them what they long deserved because of their faith and support to the company and its business plan,” the Board said.
Worth noting also are some milestones that were achieved by the management in solving the legal issues affecting the ownership of the land where the hotel is located, as well as the servicing of the loans that are now significantly reduced when the Gatchalian group took over.
Rennovations and ongoing repairs of the rooms and facilities are being undertaken to adjust to the varying and sophisticated taste of the casino players and hotel patrons, and in order to continously make the hotel world-class.
In view of this, management is very optimistic on its expansion plan and in fact, in the process of acquiring another casino-hotel along the Roxas Boulevard area to add to the growing chain of casino-hotels that includes Waterfront Cebu and Waterfront Mactan, which will cater, give more options and choices and provide world-class services and accomodations to the growing clientele of the gaming sector and industry.
http://www.philstar.com/Article.aspx?articleId=818248&publicationSubCategoryId=66
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Friday, June 15, 2012
Stock News 2012: URC raises P7.44B from treasury shares
Universal Robina Corp. (URC), the food and drink manufacturing arm of the John Gokongwei family, has raised P7.44 billion from the sale of treasury shares to institutional investors.
In a disclosure to the Philippine Stock Exchange, URC said it sold 120 million common shares previously held as treasury shares at P62 each or a 4.8 percent discount to the previous closing price and a 2.3 percent discount to the 30-day volume weighted average price.
The shares were crossed through a special block sale at the PSE yesterday.
CLSA Ltd. acted as sole bookrunner and sole placing agent for the sale.
URC said proceeds from the share sale will be used to fund potential acquisitions and for general corporate purposes.
The company has been expanding its footprint overseas and will soon open a new factory in Burma. Its international operations currently account for about a third of its business and is seen to grow as big as its domestic operations in around five years.
For this year, URC has set a capital spending of P5.2 billion, 14 percent higher than the P4.56 billion spent a year before. Majority of the capital budget, or 80 percent, will be used for the continued expansion of its branded consumer foods segment operations — primarily snack foods production facilities in the Philippines and biscuit factories in its two biggest markets, Thailand and Vietnam.
The remaining 20 percent of the capex will go to the construction of a $27-million bioethanol plant at URC’s sugar milling complex in Negros Occidental.
Bioethanol is a form of renewable energy intended to provide a more environmentally and economically friendly alternative fossil fuels such as diesel and gasoline. It can be made from very common crops such as sugarcane, potato and corn.
The bioethanol plant, which will churn out 100,00 liters of fuel a day, is projected to contribute a little over one percent to company’s revenues.
URC grew its net earnings in the first half of its fiscal year ending September 2012 by 36.5 percent to P4.48 billion due to significant improvement in market values of bond and equity holdings and lower foreign exchange loss from foreign currency-denominated transactions.
Sales rose 6.6 percent to P35.49 billion while core sales went up 13 percent.
URC is involved in a range of food-related businesses, including the manufacture and distribution of branded consumer foods, production of hogs and day-old chicks, manufacture of animal and fish feeds, glucose and veterinary compounds, flour milling, and sugar milling and refining.
http://www.philstar.com/Article.aspx?articleId=817222&publicationSubCategoryId=66
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Stock News 2012: Robinsons Land to build 2nd mall in Bulacan
Robinsons Land Corp. (RLC), the property development arm of JG Summit Holdings Inc., is further expanding its presence in the northern part of the country with the construction of a shopping mall in Malolos, Bulacan.
RLC Commercial Centers Division general manager Arlene Magtibay said the four-level Malolos mall, which will rise on a 2.6-hectare lot along MacArthur Highway, will be the group’s 33rd mall and its second in the province of Bulacan.
The planned commercial center will have a gross leasable space of 44,562 square meters and parking area totaling 22,776 sqm or 535 slots.
This will be in addition to the group’s six existing malls in northern Luzon, namely Robinsons Starmills Pampanga, Robinsons Place Angeles, Robinsons Luisita, Robinsons Pulilan, Robinsons Cabanatuan and Robinsons Place Calasiao.
Aside from its rich historical and cultural heritage, the city of Malolos is rapidly becoming industrialized due to its proximity to Metro Manila. Many corporations have put up production facilities as well as commercial outlets in key places in the city.
The Malolos mall will be home to 200 tenants and four cinemas with a seating capacity of 276.
RLC is aggressively expanding its retail portfolio over the next two years to boost its total mall leasable area to a little over one million square meters.
The group is building seven new shopping malls and expanding three of 29 existing malls in 2012-2013 to take advantage of the expected surge in consumer spending and a booming business process outsourcing industry. Of the seven, three will be built this year while the other four will rise in 2013.
RLC recently completed two mall expansion projects in Tacloban and Bacolod in the Visayas.
http://www.philstar.com/Article.aspx?articleId=817220&publicationSubCategoryId=66
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