Cebu Pacific Expands Domestic and International Operations

Low fare leader and pioneer, Cebu Pacific (PSE: CEB) announced increase in flight frequencies for eight of its major international routes in Hongkong, Singapore, Kuala Lumpur, Brunei, Seoul, Bangkok,  Vietnam and Jakarta.  

The expansion will be powered by an expanded fleet with three brand-new Airbus A320 aircraft delivered in the last quarter of 2010.

Starting December, 2010:

• Manila - Hong Kong service will be five times daily
• Manila - Singapore service will be 32 times weekly.
• Manila - Kuala Lumpur service will be 10 times weekly
• Manila  - Brunei service will be thrice weekly
• Manila - Ho Chi Minh service will be daily
• Manila - Jakarta service will be four times weekly

The operations will be expanded further in early 2011:

• Manila - Seoul (Incheon) service will be twice daily
• Manila - Bangkok service will be 10 times weekly.

"These are all part of our international expansion plan as we continue to take delivery of more brand-new Airbus A320 aircraft in the coming months," said CEB VP for Marketing and Distribution Candice Iyog.

CEB is also adding flights to select domestic destinations:

• Cebu - Bacolod direct flights will be twice daily starting November 24,2010.
• Manila - Cebu flights will be 12 times daily
• Manila - Boracay (Caticlan) flights will be 11 times daily. 
• Cebu - Puerto Princesa will seven times weekly.
• Cebu - Boracay (Caticlan) and General Santos will be twice daily
• Manila - Kalibo flights will be 16 times weekly
• Manila - Puerto Princesa flights will be four times daily starting February 5, 2011.

For CEB booking and inquiries, guests can visit Cebu Pacific website or Funtours or call +63 (2) 7020-888 or +63 (32) 230-8888. The latest seat sales can also be found on cebupacificair on Twitter and Facebook Fan Page.
 

"Guests without credit cards can also book online and use our payment centers to pay. These centers include Bancnet online, LBC, Megalink, and partner banks Metrobank, BDO and Robinsons Savings Bank," Iyog said.
 

CEB operates the youngest aircraft fleet in the country, and will take delivery of three brand new A320 aircraft in the last quarter of 2010. The airline flew the most number of domestic and international passengers in the 1st half of 2010, based on Civil Aeronautics Board data.

Source:

CEB Disclosure to PSE 

Nov 5, 2010

Globe Doubles Broadband Base to 1M Subscribers

Globe Telecom doubled its broadband subscriber base to 1M subscribers in Sept 2010, up from 517,355 subscribers in 2009.  Globe Telecom, with one of the largest WIMAX deployments in Southeast Asia, posted tremendous growth in its broadband users, with a compounded growth rate of 123% since 2006, in DSL (wired Internet), Broadband Tatoo (mobile wireless Internet) and WIMAX (fixed wireless Internet) subscribers.

Globe WIMAX subscribers passed the 100,000 mark in July 2010.  WIMAX (Worldwide Interoperability for Microwave Access) is a next-generation fixed wireless broadband technology used to provide affordable and reliable high-speed internet service, normally faster than many other broadband services.  WIMAX can cover areas not covered by traditional wired Internet solutions.

"We are seeing robust growth in subscriber takeup for our DSL, Broadband Tatoo and WIMAX offers, especially in the provinces. ... We are happy to hit the one million milestone for broadband users, and expect our growth trajectory to continue by year end. We aim to be the preferred provider by more subscribers as we introduce new products and improve the surfing experience of our customers," said Ernest Cu, President and CEO of Globe.

Globe has the largest WiMAX network in the Philippines, covering nearly 60 provinces and 365 key cities, including Metro Manila, Cainta, Antipolo, Taytay, Plaridel, Cabanatuan, Dasmarinas, Bacoor, Imus, Tanza, Calamba and Batangas City in Luzon  plus Cebu City, Cagayan de Oro and Zamboanga in Southern Philippines.

Globe has invested US$120M for expansion of its broadband network during the first six months of 2010.

source:
Globe Telecom disclosure to PSE
Nov 2, 2010.

Emperador Distillers Post Record 9-month Income

Emperador Distillers, Inc.reported a net income of P1.061 billion for the first three quarters of 2010.  Emperador Distillers President Winston Co said “This goes down as the highest income that we have ever achieved for a nine-month period, and it’s already 86 percent higher than that for the whole year of 2009.”

Co expects 2010 to be a banner year in revenue and income for EDI. He added: “We are confident that our net income this year will be the highest in the history of Emperador Distillers.” 

EDI's strong performance is largely due to improved consumer confidence and spending as well as the company’s ability to innovate and control cost, said Co. The record revenue gains also reflect EDI’s strong financial management as it has zero bank debt, he said.

EDI is the country's largest brandy manufacturer, with Emperador Brandy as its flagship brand. To seize new profit and growth opportunities, the company launched its foray into the white spirit segment by introducing the first flavored vodka and gin under the brand name The BAR in 2009.

“The BAR follows the blue ocean strategy as it targets uncontested market space with exciting offerings and a high-end image appeal ... The Bar has successfully penetrated all segments of the socio-economic market from A to D.”  according to Co.

The BAR sold 50 million bottles in the first 12 months of its launch, making the brand an instant success.

“This wide market acceptance of The BAR is a first in Philippine liquor history.. The two new products are the result of a long, careful market study and research that EDI has undertaken, and they represent the latest innovations that we are bringing into the mainstream of the liquor industry,” said Co. He disclosed that EDI would launch two more new beverages within the last quarter of the year.

“I promise you that the new drinks will be very, very exciting. We expect them to create a new demand and generate additional revenue for EDI in the coming years,” he said.

Emperador Distillers, Inc. is a 100 percent owned of subsidiary of Andrew Tan-led conglomerate Alliance Global Group, Inc.

 

source: PSE Disclosure

Oct 21, 2010

Treasure Steelworks Corporation Energizes Iligan Steel Plant

TKC Steel Corporation announced the forthcoming completion of its major capacity and capability enhancement project with the commissioning work of the first blast furnace in Iligan City.  This is the first of two blast furnace modules undertaken by subsidiary, Treasure Steelworks Corporation (TSC).

The Iligan City blast furnace is scheduled for cold testing to ensure all components of the system will function properly when the facility is energized next week.

Upon confirmation of cold testing results, the facility will be scheduled for hot testing and actual firing soon thereafter. With the full operation of its blast furnace, TSC expects to improve its capability to produce steel from indigeneous iron ore, thereby completing the first fully integrated steel mill in the Philippines.

Support facilities earlier set-up by TSC will complement the blast furnace to ensure adequate raw material supply for efficient production of steel products. These include the ore beneficiation plant and the power generation plant which is expected to help alleviate the power supply shortage in Mindanao.

SM Prime Signs Lease for Cebu Property To Build Second Mall

SM Prime Holdings, Inc. (SM Prime) announced that it has entered into a lease contract with Everjust Realty Development Corporation for a 46,296 square meter (sqm) lot in Barangay Lamac, Municipality of Consolacion, Cebu Province. SM Prime intends to build on the leased property its second mall in the province,
after SM City Cebu. The new mall will be named SM City Consolacion Cebu.

"The signing of the lease contract is one of the first significant steps that SM Prime is taking towards completing its second mall in Cebu. The company considers Cebu as an ideal site for further expansion of SM malls, given itsstrategic role in the Visayas region and its strong export capability. It is also an ideal tourism destination and a take off point for island hopping by ferry to other destinations,” said SM Prime President Mr. Hans T. Sy.

SM City Consolacion Cebu is estimated to have a gross floor area (GFA) of 57,436 sqm. It is scheduled to open by the fourth quarter of 2011. For the rest of 2010, SM Prime will be opening

• SM City Calamba, the third SM mall in the province of Laguna, and
• SM City Novaliches in Quezon City.

The company is also set to open its fourth SM mall in mainland China, which will be located in the city of Suzhou. By end 2010, the company is expected to have 40 malls in the Philippines, with a total gross floor area of 4.8 million sqm.

SM City Cebu, the first SM Mall in Cebu, is the country’s fourth largest shopping complex.

For further inquiries:
Mr. Jeffrey C. Lim
Executive Vice President
SM Prime Holdings, Inc.
E-mail: jeffrey.lim@smprime.com

Source: PSE Disclosure
08 October 2010. Pasay City, Philippines.

Integrated Micro-Electronics Opens Chengdu Factory

Integrated Micro-Electronics Inc. (IMI) of the Ayala Group announced the official opening of its new factory in Chengdu, Sichuan Province in southwestern China.

Members of IMI’s board of directors and management committee, led by chairman Jaime Augusto Zobel de Ayala, president Arthur Tan, and board member Gerardo Ablaza Jr., attended the event graced the inauguration ceremony held on April 9, 2010, at the factory in Xindu District’s Muwei Industrial Park

Ayala said, “IMI’s expansion to Chengdu is part of our strategy to bring IMI’s services closer to OEMs which increasingly require greater capacity in China to supply a large domestic market as well as to manufacture for export markets. We believe China will remain at the center of the global electronics manufacturing industry and will be a significant driver of the world economy as it regains its growth momentum. Having this strategic position in the region will allow us to capture a greater share of volume orders as demand turns in step with the economic cycle.”

The Chengdu factory is the sixth IMI’s manufacturing site in China. The other plants of IMI are located in Shenzhen (in Liantang, Kuichong, Fuyong); Jiaxing; and Chongqing.

Tan said, “We were invited by one of our key customers to support their new plant in Chengdu. We also have OEM customers based in Chengdu that are currently serviced by our plant in Chongqing, which is also located in southwestern China. With our new plant in Chengdu, we can offer to bring our expertise nearer to them.”

Tan added that IMI also considered the steadily rising costs of manufacturing and labor supply shortages in the coastal regions in its further expansion into southwestern China. “Southwestern China’s manufacturing costs are more competitive compared to those in the coastal cities. It also has the largest
pool of migrant workers. Because of this, the move into the central regions by OEMs and their EMS partners has gained momentum.”

IMI’s 7,500-sq m Chengdu plant offers a wide variety of electronics manufacturing solutions, from printed circuit board assembly to full product assembly for OEMs in various markets such as those in the industrial, automotive, medical, and telecommunications infrastructure industries. Contract design services are also offered to OEMs in collaboration with IMI’s design and engineering centers in
Shenzhen, Singapore, the Philippines, and the United States.

Integrated Micro-Electronics Inc. (IMI) is a leading electronics manufacturing services (EMS) and provider to the world’s key original equipment manufacturers (OEMs).

Source: PSE Disclosure April 12, 2010

EDC's New Rig to Boost Drilling Income

Geothermal leader Energy Development Corporation (EDC) expects to save US$40,000 a day from its new state-of-the-art drilling rig with Variable Frequency Drive (VFD) and Amphion Integrated Rig Control System, the most modern in the country.

EDC President and COO Richard Tantoco said:
“With this new state-of-the-art rig, we will achieve significant operational efficiency by reducing our drilling days by 40 to 50%. For every day deducted from each well we drill, not only do we save US$40,000 but we also accelerate the production of steam that results in higher revenues.

The rig’s superior safety and mobility features will also enable us to accomplish our drilling targets in terms of programmed wells per year and this is crucial since we are in an expansionary mode.”

The new rig which EDC purchased for almost P1 billion has two unique features:

• the Variable Frequency Drive (VFD) which allows for a more accurate speed and torque control, and
• the Amphion Integrated Rig Control System which centralizes control of various rig equipment.

In addition, its mud system has a 1,800 barrels capacity which can increase rate of penetration. The new rig also has superior safety and mobility features.


Tantoco added:
“We continue to invest in drilling equipment and manpower because they form the backbone of our geothermal business. The new rig is a valuable addition to our assets and will enable us to meet our drilling targets not only for our existing projects but also for the Mt. Labo and Mt. Mainit prospects.”

EDC recently bagged the service contracts for the Mt. Labo and Mt. Mainit geothermal prospects in Camarines Norte and Davao del Norte, respectively.

While its main revenues come from steam and electricity sales, EDC has made significant inroads in marketing its drilling services abroad. It has an existing contract with Papua New Guinea’s Lihir Gold Limited (LGL), one of the leading gold producers in the Asia Pacific region. LGL has been engaging EDC’s engineers and services since 1999 for various drilling contracts. EDC has been exporting its drilling services since 1997.

Source: EDC Press Release Feb 25, 2010.

DMCI Homes spending P4.5B in 2010 for three condo projects

DMCI Homes expects higher sales and profit this year amid expectations of an economic recovery that will drive demand for medium-rise residential buildings.

DMCI Homes, the property and housing arm of the Consunji-led DMCI Holdings, Inc., has allotted P4.5 billion construction budget for the year 2010.

“We expect to sell better this year than last year,” DMCI Homes Managing Director Alfredo R. Austria told Business World at the sideline of the launching of new projects. “This year, we’ll probably sell P10.5 billion to P11 billion”

Net income is projected to rise to more than P1 billion this year form the preliminary figure of P900 million last year.

"This year, we will be spending about P500 million. By next year, [we’ll spend] about P2 billion and then another P2 billion [the following year],” Elmer G. Civil, DMCI Homes’ Director for Design and Construction, said in a separate interview

Source: DMCI Homes disclosure to the PSE, Feb 18, 2010.

PETRON Opens 200 New Service Stations

The country’s leading oil refining and marketing company Petron Corporation ( PSE:PCOR)said it has completed the 1st phase of its retail network expansion program. From January 2009 to January 2010, Petron has opened 200 new service stations across the country bringing its total service station count to 1,463—the largest retail network in the industry.

“We intend to pursue our network expansion program to bring Petron’s first-rate fuel products and quality services closer to Filipino motorists. This is also in line with our strategic initiative to strengthen the company’s core business and ensure our market dominance over the long-term,” Petron Chairman and CEO Ramon S. Ang said.

At the heart of the company’s expansion program is the establishment of Petron service stations in far-flung areas as the framework for volume building. The concept is based on pre-fabricated models that can start with 2-3 product pumps but easily expandable as demand increases in growth centers, real estate development sites and provincial areas. Of the 200 Petron service stations opened in the last year, 84 are located in Luzon, 48 in Visayas and 68 in Mindanao.

At present, Petron has 30% of the total oil industry service station count and this is expected to further increase in the next few years. The company has programmed the construction of more service stations over the next few years which is expected to further enhance its market leadership.

To complement this initiative, the company is already rolling out more services at its various gasoline stations to give customers more service convenience. These include bank ATMs, money transfer, bill payments, and additional food and service locators etc.

Petron posted a net income of P3.37 billion in the first nine months of 2009 continuing its strong recovery from losses suffered in 2008. This is equivalent to a 21% increase compared to the P2.78 billion income posted in 2008 over the same period

PSE Disclosure: Feb 9, 2010

SM Prime to Invest P12B to build new malls

In a disclosure to the Philippine Stock Exchange, JEFFREY C. LIM, Executive Vice President of listed SM Prime Holdings, Inc.(PSE:SMPH), confirmed that SMPH, the country’s largest mall operator, will invest P12 billion this year to put up 11 new malls until 2011.

The Henry Sy-led firm is looking to tap the new Real Estate Investment Trust or REIT Law and secure about $300 million of funds to help finance the expansion… “[Capital expenditure] for this year will be about P12 billion. We are spending P8 billion for the Philippines and P4 billion in China,” Mr. Lim said


Source: PSE Disclosure Feb 4, 2010.