Holcim Philippines announced it will be shutting downs it cement plants for six weeks as demand for the product weakens. In a disclosure to the Philippine Stock Exchange, Holcim said that there is no plan to close HLCM's remaining cement lines. Holcim Chief Operating Office (COO) Ian S. Thackwray said it is possible any of the HLCM's plants may need to have short shutdowns due to the current economic demand.
Thackwray said that despite these shutdowns, there will be no job losses in any of the HLCM's plants.
Tuesday, January 27, 2009
Jollibee Sales Increase 13%, But Lower Profits
26 January 2009
Jollibee confirmed today that sales increased by 13% in 2008, but profit is expected to slightly go down. Jollibee Chairman Tony Tancaktions said the high cost of raw materials last year squeezed the company profits.
Jollibee maintains a positive outlook for this 2009 due to lower prices.
Jollibee confirmed today that sales increased by 13% in 2008, but profit is expected to slightly go down. Jollibee Chairman Tony Tancaktions said the high cost of raw materials last year squeezed the company profits.
Jollibee maintains a positive outlook for this 2009 due to lower prices.
PhilWeb Corp. posts 90% increase in core Net Income
PhilWeb Corporation reported that is net Income from core business rose to P229.5 million for 2008, 90% higher than last year’s P120.8 million.
PhilWeb President Dennis Valdes said "The key driver of core Net Income continues to be our PAGCOR e-Games Cafes...In 2008, we opened 45 new cafes, a 59% increase in outlets, ending the year with 121 cafes."
Consolidated net income totaled P287.3 million up P64.5 million versus 2007 net income of P222.8 million. This includes PhilWeb's equity in the net earnings of
ISM Communications Corporation.
Valdes added “The company did not only sustain its meteoric growth of 2007, it actually accelerated that growth last year...We expanded aggressively in our
other existing games of chance, like Premyo Sa Resibo, Basketball Jackpot and Txtingo Super Singko."
As a result PhilWeb Revenue totaled P457.2 million, 71% higher than
previous year.
Premyo Sa Resibo or PSR is a SMS text-service-based raffle operated on behalf of the Bureau of Internal Revenue with the objective of increasing tax revenues by uncovering companies that do not issue proper receipts. PSR has awarded over P120 million in prizes June 2006, and continues to pick a new millionaire every two weeks.
Basketball Jackpot is operated from a network of kiosks called Internet Sports Betting Stations or ISBS. PhilWeb had a total of 149 ISBS as of end-December 2008.
Txtingo Super Singko, is a SMS text-service-based mobile lottery, with a daily draw giving texters the chance to win P10 million outright.
Valdes noted that these results allowed PhilWeb to accumulate a cash
hoard of over P695 million. He added "We will use these funds to aggressively invest in new games of chance and other opportunities that come our way in 2009. The past year has turned out to be a record year for PhilWeb, wherein we recorded our highest ever levels of Revenue and Net Income, so we are quite optimistic that this trend will accelerate in 2009."
PhilWeb President Dennis Valdes said "The key driver of core Net Income continues to be our PAGCOR e-Games Cafes...In 2008, we opened 45 new cafes, a 59% increase in outlets, ending the year with 121 cafes."
Consolidated net income totaled P287.3 million up P64.5 million versus 2007 net income of P222.8 million. This includes PhilWeb's equity in the net earnings of
ISM Communications Corporation.
Valdes added “The company did not only sustain its meteoric growth of 2007, it actually accelerated that growth last year...We expanded aggressively in our
other existing games of chance, like Premyo Sa Resibo, Basketball Jackpot and Txtingo Super Singko."
As a result PhilWeb Revenue totaled P457.2 million, 71% higher than
previous year.
Premyo Sa Resibo or PSR is a SMS text-service-based raffle operated on behalf of the Bureau of Internal Revenue with the objective of increasing tax revenues by uncovering companies that do not issue proper receipts. PSR has awarded over P120 million in prizes June 2006, and continues to pick a new millionaire every two weeks.
Basketball Jackpot is operated from a network of kiosks called Internet Sports Betting Stations or ISBS. PhilWeb had a total of 149 ISBS as of end-December 2008.
Txtingo Super Singko, is a SMS text-service-based mobile lottery, with a daily draw giving texters the chance to win P10 million outright.
Valdes noted that these results allowed PhilWeb to accumulate a cash
hoard of over P695 million. He added "We will use these funds to aggressively invest in new games of chance and other opportunities that come our way in 2009. The past year has turned out to be a record year for PhilWeb, wherein we recorded our highest ever levels of Revenue and Net Income, so we are quite optimistic that this trend will accelerate in 2009."
Tuesday, January 20, 2009
SM Bags Best in Corporate Governance Award
19 January 2009. Pasay City, Philippines.
SM Investments Corporation (SM) announced today that it garnered awards from two international publications.
SM was voted as one of the Philippines’ Best in Corporate Governance for 2008, based on a survey by The Asset Magazine. The other awardees were Manila Water, Ayala Corp, Globe Telecoms, and Bank of the Philippine Islands.
SM was also awarded the 2008 Best Philippine Capital Markets Deal Award by the International Financing Review (IFR) Asia for its US$350 million bonds that were issued in July 2008.
The bonds, which mature in five years with a three-year put option, were priced at a fixed rate of 6.75 percent, one of the lowest yields in the market.
It was also the first major international corporate bond offering from the Philippines in over two years, and the country’s largest private bond issue. The issue was successfully launched in spite of a turbulent market environment. UBS served as the sole book runner of the issue.
SM is one of the largest holding companies in the Philippines. It is a dominant player in retail, mall operations, and banking. It is also an emerging player in property development, which includes residential, commercial, tourism,
and hotel projects.
SM Investments Corporation (SM) announced today that it garnered awards from two international publications.
SM was voted as one of the Philippines’ Best in Corporate Governance for 2008, based on a survey by The Asset Magazine. The other awardees were Manila Water, Ayala Corp, Globe Telecoms, and Bank of the Philippine Islands.
SM was also awarded the 2008 Best Philippine Capital Markets Deal Award by the International Financing Review (IFR) Asia for its US$350 million bonds that were issued in July 2008.
The bonds, which mature in five years with a three-year put option, were priced at a fixed rate of 6.75 percent, one of the lowest yields in the market.
It was also the first major international corporate bond offering from the Philippines in over two years, and the country’s largest private bond issue. The issue was successfully launched in spite of a turbulent market environment. UBS served as the sole book runner of the issue.
SM is one of the largest holding companies in the Philippines. It is a dominant player in retail, mall operations, and banking. It is also an emerging player in property development, which includes residential, commercial, tourism,
and hotel projects.
Tuesday, January 13, 2009
SM Opens SM City Fairview Annex
SM Prime Holdings, Inc. launched the SM City Fairview Annex on January 15, 2009, adding add 28,600 square meters (sqm) of gross floor area (GFA) to the main mall and increasing SM Fairview’s total GFA to 182,783 sqm.
SM Prime President Mr. Hans Sy said "Quezon City remains to be one of SM Prime’s most important local partners, and continues to be a domain for further growth.” Quezon City hosts SM City Fairview, SM City North Edsa and SM Cubao.
SM City Fairview Annex is estimated to employ to close to 1,500 direct and indirect employees.
The SM City Fairview Annex has 19,100 sqm of gross leasable area and will have as its mall tenants Ace Hardware, Timezone, Grills, Chilly Willy’s, Sbarro, Breadtalk, Ford Motors, Center for Pop Music, All Flip Flops, and People R People, among others.
Last year, SM Prime launched in quick succession, SM City Marikina, the SM Megamall Bridgeway, SM City Rosales in Pangasinan, The Annex at SM City North Edsa, and SM City Baliwag in Bulacan.
Sunday, January 11, 2009
Korean Electric Power Corporation (Kepco) and SPC Power Corporation has inked power supply contracts with several electric cooperatives in the Visayas, paving the way for the construction of a new power plant in the region.
These KEPCO-SPC Power supply contracts include supply of
Construction of a 200-megawatt Circulating Fluidized Bed Combustion (CFBC) Boiler Coal-Fired Power Plant began in early 2008.
Estimated to cost around US$450 million, the plant is expected to be completed by May 2011.
Yehey Projects Doubling of Revenues for 2009
In a disclosure to the Philippine Stock Exchange last January 8, Philippine web portal Yehey! Corporation confirmed that it is bullish about doubling revenues to P140 million in 2009 amid an economic crisis that threathens most companies' profits.
Yehey already controls a huge chunk of the Philippine digital marketing industry, which is expected to reach P800 million in 2009.
Yehey already controls a huge chunk of the Philippine digital marketing industry, which is expected to reach P800 million in 2009.
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