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.