MJCIs latest project 1st Winford Hotel in Manila breaks ground
Manila Standard Today - 2013-07-30
MJC Investments Corporation recently broke ground for its newest project, Winford Hotel in Manila The 18-story luxury hotel project will be the first of the famed Winford Hotel in Manila with an estimated project cost of P3.7 billion. Aside from the ...

Ormin begins hydro plant
Manila Standard Today - 2013-07-29
Renewable energy developer Ormin Power Inc., a unit of Jolliville Holdings Corp., is set to start construction of a 10-megawatt mini-hydro project in Oriental Mindoro costing an estimated P1.5 billion. Jolly Ting, chairman and chief executive of Jolliville ...

ANI, Chinese partner explore opportunities for rice, other crops
philstar.com - 2013-07-29
MANILA, Philippines - Listed fruit and vegetable grower Agrinurture Inc.(ANI) is exploring opportunities with its Chinese business partner Beidahuang Seed Group of China for the expansion of its production areas. A team from Beidahuang visited over the ...

Leisure to sell shares
Manila Standard Today - 2013-07-29
Leisure & Resorts World Corp. plans to raise another P250 million from the issuance of preferred shares in the last quarter of the year, as the company remains keen on investing in the gaming sector. Leisure & Resorts chairman Reynaldo Bantug said in an ...

Midas Hotel to hold junket gaming under agreement with PAGCOR
GMA Network - 2013-07-29
Midas Hotel and Casino along Roxas Boulevald by the Manila Bay is staging junket gaming operations under an agreement with regulator Philippine Amusement and Gaming Corp. Prime Investment Korea Inc., operator of Midas and a subsidiary of Leisure & Resorts ...

Report: Gov't greenlights Manny Pangilinan's Connector Road Project
topgear.com.ph - 2013-07-29
with the government official adding that the P23-billion project will be a joint venture between the state-run Philippine National Construction Corporation and Pangilinan's Metro Pacific Tollways Corporation. MPTC's proposal consists of a 13.4km four-lane ...

Anchor Land building five projects this year
Manila Standard Today - 2013-07-28
Property developer Anchor Land Holdings Inc. said it will launch five new projects this year, including three residential developments with sales value of P15 billion. Anchor Land vice chairman Steve Li said in an interview following the annual ...

PRCI acquiring Paco lot for new headquarters
Philstar - 2013-07-28
MANILA, Philippines - Horse racing operator Philippine Racing Club Inc. (PRCI) is spending more than P200 million for the purchase of a Paco property for its new headquarters. In a regulatory filing, PRCI said its board of directors approved the plan to ...

Discovery World pushes through with P1-B IPO
philstar.com - 2013-07-27
In a memorandum, the Philippine Stock Exchange (PSE) said it "approved the application of Discovery World Corp. for the initial listing of 764 million common shares." Discovery World plans to sell 306 million common shares at P3.28 apiece to generate ...

Philex Petroleum posts P225-m loss
Manila Standard Today - 2013-07-27
Philex Petroleum Corp., the oil and gas exploration unit of Philex Mining Corp., said Friday it incurred a higher net loss of P225.2 million in the first half, compared with a net loss P80.5 million in the same period last year. The increase in net loss ...

FMICs first-half profit jumped 258% to P6.8b
Manila Standard Today - 2013-07-27
The group completed 13 financial deals in the first half, including the initial public offering of Philippine Business Bank and Asia United Bank; top-up placements of Megawide Construction Corp. and Cosco Capital Inc.; and GT Capitals P10-billion fixed ...

Discoverys P1-b IPO approved
Manila Standard Today - 2013-07-26
The Philippine Stock Exchange approved the P1-billion initial public offering of Discovery World Corp., the property developer of high-end resort Discovery Shores Boracay. The PSE said in a memorandum Discovery World planned to sell 306 million primary ...

Oakwood mutiny: Wrong, right
Philippine Daily Inquirer - 2013-07-26
Ten years after the Oakwood mutiny, the military continues to regard the caper by ... Cruz carried on changes outlined in the Philippine Defense Reform (PDR). The PDR, Defense System of Management and the Security Sector Reform (SSR) have become buzzwords ...

PSE approves IPO of Tiu family's leisure company
interaksyon.com - 2013-07-26
Discovery World will be the third company of the Tiu family to be listed in the PSE after i-Remit Inc and TKC Steel Corp. The family also owns Sterling Bank of Asia, Discovery Suites and JTKC Land Inc. Philippine Business Bank and Asia United Bank this ...

Discovery World to launch IPO in August
Rappler - 2013-07-26
Discovery World is owned by the Tiu family, the 3rd of their firms to be listed in the PSE. They also run remittance firm I-Remit Inc., manufacturing firm TKC Steel Corp., Sterling Bank of Asia and property firm JTKC Land Inc. - Rappler.com

Currency woes widen Philex Petroleum losses in H1
Rappler - 2013-07-26
MANILA, Philippines - The net losses of upstream oil and gas company Philex Petroleum Corp. widened to P225.2 million in the first 6 months of 2013 from P80.5 million a year ago. "The increase in net loss was mainly due to foreign currency conversion ...

Filinvest Land expands affordable housing brand
interaksyon.com - 2013-07-26
MANILA - Filinvest Land Inc plans to expand its affordable brand, Futura Homes, amid strong demand for residential projects. Reynaldo Ascaño, Filinvest Land first vice president, told reporters that Futura Homes will roll out new projects in Valenzuela ...

Jollibee kicks off search for exemplary Pinoy families
Sun Star - 2013-07-25
Adel Tamano; Christine Jacob-Sandejas; DSWD Assistant Secretary Teodulo Romo Jr., who represented Secretary Dinky Soliman; Owwa Administrator Carmelita Dimzon; Francis Kong; Jollibee vice president for marketing Harvey T. Ong; Jollibee Group Foundation ...

Construction starts for mini-hydropower plant in Oriental Mindoro
interaksyon.com - 2013-07-25
MANILA - Jolliville Holdings Corp is set to commence with its mini-hydro project in Oriental Mindoro. In a letter to the Department of Energy, Jolliville, through subsidiary Ormin Power Inc, said it will launch its 10-megawatt Inabasan mini-hydro project ...

Anchor Land announces new projects
Inquirer - 2013-07-25
MANILA, Philippines--Anchor Land Holdings Inc. is to break ground for three new upscale residential projects and two new commercial developments this year in line with plans to sustain a double-digit annual growth, top officials said. In a press briefing ...

MJC sets tourism project
Inquirer - 2013-07-24
MJC Investments Corp., the leisure and tourism arm of Manila Jockey Club, said it started a P3.7-billion tourism project in Manila after announcing plans to raise fresh capital. Both companies are listed on the Philippine Stock Exchange. In a statement ...

62 hurt, 9 detained in SONA rally
Rappler - 2013-07-22
Police later re-routed eastbound vehicles to the Holy Spirit drive. The police were able to push the protestors back to the original area reserved for them in front of the Ever Gotesco mall, where they held a program. Also present at the protest action ...

San Miguel, DMCI units sign deal over NAIA Expressway
News Philippines Yahoo - 2013-07-22
A unit of DMCI Holdings Inc. has partnered with a subsidiary of San Miguel Corporation to build the Ninoy Aquino International Airport (NAIA) Expressway Project, a public-private partnership (PPP) project. In a disclosure to the Philippine Stock Exchange ...

Original traffic plan for SONA implemented--police
Philippine Daily Inquirer - 2013-07-22
MANILA, Philippines-- The original traffic plan for the State of the Nation Address was implemented ... take a left turn at Don Antonio Heights village, as the portion near Ever Gotesco eastbound is already occupied by the protesters.

More than 60 hurt in SONA clash
philstar.com - 2013-07-22
Boiser, meanwhile, said that the protesters may also be held liable for destruction of government property when they tore down the iron barricade of the center island near Ever Gotesco Mall as they tried to move to the southbound lane of the highway.

Discovery to absorb new hotels after IPO
Manila Standard Today - 2013-07-22
Discovery World Corp., the operator of high-end resort Discovery Shores Boracay, plans to absorb other hotels and resort developments owned by the group, after the P1-billion initial public offering slated in August or September. Discovery World president ...

Tan leaving PAL, blames workers
Rappler - 2013-07-21
MANILA, Philippines - Tycoon Lucio Tan is leaving the airline business, and he is blaming workers for his departure. "The union" is the reason why he is selling his 51% stake in Philippine Airlines (PAL) Holdings Inc to local and foreign investors ...

Ayala Land starts selling bonds
Manila Standard Today - 2013-07-20
Ayala Land earlier signed joint venture agreement with Entenso Equities Inc., a wholly-owned subsidiary of Puregold Price Club Inc., to develop and operate mid-market supermarkets for some of ALIs new integrated and mixed-use developments. Puregold is one ...

SMC relieves Eala as sports director for basketball operations
Philippine Daily Inquirer - 2013-07-19
SAN MIGUEL Corporation (SMC)-owned squads in the Philippine Basketball Association (PBA) have done massive reshuffling that saw coaches moving from one team to another. The revamp has reached the top management level. In a statement released to media ...

San Miguel sale of Meralco stake pulls down stock market
interaksyon.com - 2013-07-19
The top gainers were Federal Resources, Concrete Aggregates, Philippine Racing Club, Ionics and ATN Holdings, while the top losers besides Meralco were Information Capital Technology Ventures, DFNN, Vivant and Republic Glass.

San Miguel sale of Meralco stake pulls down stock market
interaksyon.com - 2013-07-19
The top gainers were Federal Resources, Concrete Aggregates, Philippine Racing Club, Ionics and ATN Holdings, while the top losers besides Meralco were Information Capital Technology Ventures, DFNN, Vivant and Republic Glass.

DOTC execs tagged in $30-M shakedown
philstar.com - 2013-07-19
and consultant and adviser of First Philippine Holdings Corp. and Benpres Holdings Corp., had asked Inekon for $30 million to facilitate the contract. An exasperated Rychtar then sent a letter to President Aquino, dated June 29 and received by Malacañang ...

IKEA Biggest Foreign Landowner In China With 6.89 Million Square Feet
International Business Times - 2013-07-18
IKEA has become the largest foreign landowner in China. The China division of the Dutch interior decor firm with Swedish roots has opened 12 retail ... Mart Stores, Inc. (NYSE:WMT) owns in China, 229 of Carrefour SA (EPA:CA), more than 80 of Metro, Inc ...

Megaworld not following same path as SM
Rappler - 2013-07-18
Real estate tycoon Tan announced on June 21 that he was consolidating his group's property units: leisure estate unit Global-Estate Resorts Inc (GERI), middle-income residential development unit Empire East Land Holdings Inc (ELI) and affordable homes ...

Ashmore Group selling out of Ongpin-led Alphaland
philstar.com - 2013-07-17
MANILA, Philippines - London-based private equity fund Ashmore Group is cutting its business ties with Ongpin-led Alphaland Corp., the local ... Ashmore Group is also involved in telecommunications (ISM Communications), oil exploration (Philex Petroleum ...

Ombudsman forms special team to probe ghost pork projects
Philippine Daily Inquirer - 2013-07-16
Napoles was accused of creating a portfolio of 20 fake nongovernment organizations used as conduits for ghost projects funded by the Priority Development Assistance Fund (PDAF) of lawmakers. Under Republic Act No. 6770, or the Ombudsman Act of 1989 ...

FinanceAsia cites BDO as Best Bank in Phl
philstar.com - 2013-07-16
MANILA, Philippines - BDO Unibank Inc., the main banking unit of the SM Group, has bagged the Best Bank in the Philippines award from Hong Kong-based financial publishing firm FinanceAsia for the fourth consecutive year. In the recently concluded Country ...

Pru Life delivers 12 more homes
Philstar - 2013-07-16
MANILA, Philippines - Pru Life UK has turned over newly completed housing units for 12 more families of the Pru Life UK Gawad Kalinga (GK) Felicity Village in Parañaque City. Since 2006, the company has been working with GK to provide homes for the 86 ...

BSP awards outstanding banks
Balita - 2013-07-16
Inc. (A Savings Bank) Outstanding Financial Inclusion Partner - Microfinance Council of the Philippines, Inc. Financial Inclusion Champion - CARD Banking Group Hall of Fame for Financial Inclusion Champion - CARD Banking Group

Robinsons Retail spending P33.5b to build more stores
Manila Standard Today - 2013-07-16
Robinsons Retail Holdings Inc., the retail arm of the Gokongwei family, is spending P33.5 billion to expand its store network by nearly 50 percent to 1,391 outlets by 2014. Robinsons Retail, which has a pending application to raise as much as P42 billion ...

PAL Holdings ends 1st year under SMC with P4-B losses
Rappler - 2013-07-15
PAL Holdings Inc attributed to lower operating costs the P246 million difference or 6% decline from the P4.379 billion net loss incurred in fiscal year ending March 31, 2012. San Miguel acquired minority but controlling 49% stake in PAL Holdings in April 2012.

Bahay Kubo-inspired designs for MRBs
Manila Standard Today - 2013-07-15
Architect Romolo V. Nati, Chairman and CEO of ITALPINAS Euroasian Design and Eco-Development Corporation (ItalPinas), said he sees the humble bahay-kubo as the quintessential sustainable house. We try to incorporate the bahay kubo green architecture ...

SMDC won't buy Kidney Institute property
Rappler - 2013-07-15
MANILA, Philippines - Henry Sy-led SM Development Corp. (SMDC), the real estate arm of Henry Sy's SM Investments Corp. (SMIC), will no longer buy the National Kidney Transplant Institute (NKTI) property in Quezon City. In a disclosure to the Philippine ...

Canada opens new visa centers in Manila, Cebu
Rappler - 2013-07-15
MANILA, Philippines - The Government of Canada on Monday ... Extension, Makati City, and 9th Floor Keppel Center, Unit 905, Samar Loop cor. Cardinal Rosales Ave., Cebu Business Park, Cebu City.

Statues of Pedro, Pope John Paul II soon in Cebu City
Philstar - 2013-07-14
CEBU, Philippines - The Archdiocese of Cebu and the Ayala Group in Cebu, Cebu Holdings Inc., have agreed to erect statues of St. Pedro Calungsod and soon-to-be saint Blessed Pope John Paul II in Cebu City. Monsignor Achilles Dakay said that Cebu Archbishop ...

Discovery readies P1-b initial public offering in August
Manila Standard Today - 2013-07-13
Discovery World Corp., a high-end property developer owned by the Tiu family, plans to hold a P1-billion initial public offering next month. Discovery World, based on the final prospectus approved by the Securities and Exchange Commission, will offer 306 ...

DOE awards 2 Petroleum Contracts
News Philippines Yahoo - 2013-07-12
Philippine National Oil Company-Exploration Corporation and PetroEnergy Resources Corporation for Area 4 in Northwest Palawan; and Loyz Oil Pte. Ltd for Area 14 in East Palawan basin. Energy Secretary Carlos Jericho Petilla noted that petroleum drilling at ...

Vatican may widen bank corruption probe
CNN Money - 2013-07-12
Investigators are looking at transactions from two accounts Scarano held at the Vatican bank, one a personal account and the other used for donations. Related: Vatican moves to clean up finances The latest developments come as the tiny city-state faces ...

How QC-to-Davao City kidnap happened
News Philippines Yahoo - 2013-07-12
At around 12 noon on July 11, the suspects together with their victim arrived at the Allied Bank branch on Clark M. Recto Ave. in Davao City. The group's leader, Ramil Macamay, 35, from Bukidnon, escorted Chua inside the bank, unaware that police ...

Stock market extends rally, returns above 6,500-mark
interaksyon.com - 2013-07-12
A total of 1.45 billion stocks worth P7.8 billion changed hands. Actively traded stocks were PLDT, Ayala Corp, Metrobank, SM Prime and SM Investments. Top gainers were PAL Holdings, MJC Investments and ATN A, while the biggest losers were Federal Resources ...