Megaworld earnings plunge; Filinvest Land posts growth


TWO LISTED developers yesterday reported mixed first-half results, with Megaworld Corp. posting a profit drop on weakened revenues, while Filinvest Land, Inc. fared better with a double-digit earnings hike. Megaworld, the middle-income property arm of Alliance Global Group, Inc., saw its first-semester net income decline by 30.16% to P3.59 billion from P5.14 billion a year […]

DMCI in bid to take over British mining company

dmci holdings

MANILA, Philippines—DMCI Holdings is leading a consortium that plans to take over UK-listed nickel production company ENK Plc,  which is developing the Acoje mining project in Zambales,  in a deal that values the British company at £49.8 million. DMCI disclosed to the Philippine Stock Exchange that it would spend up to £31 million for this […]

Eton shares remain suspended at PSE

eton properties

TRADING OF Eton Properties Philippines, Inc. shares remain suspended even as it has submitted its overdue 2011 annual report, this time as it has yet to disclose results for the first quarter. “As of [Aug. 3], the company has not yet submitted its quarterly report, using SEC (Securities and Exchange Commission) Form 17-Q, for the […]

Belle records drop in H1

belle corporation

LEISURE PROPERTY developer Belle Corp. realized a double-digit profit drop in the first semester versus year-ago levels on weaker real estate revenues and higher administrative expenses, a filing with the Philippine Stock Exchange showed. Belle, an affiliate of Sy-led SM Investments Corp., saw its January-to-June net income decline by 11.38% to P90.48 million from P102.10 […]

Rockwell Climbs to 12-Week High on Profit Forecast: Manila Mover

Rockwell Land Corp. (ROCK) advanced to a 12- week high in Manila trading after the Philippine builder’s President Nestor Padilla said profit may double in two years. Rockwell climbed 31 percent to 4.05 pesos as of 1:53 p.m., headed for the highest close since May 14, while the Philippine Stock Exchange Composite Index declined 0.1 […]

ALI’s H1 Profits Rise 28%


MANILA, Philippines — Property giant Ayala Land, Inc. (ALI) reported its net income grew by 28 percent to P4.33 billion in the first half of 2012 from the P3.38 billion posted in the same period last year. In a disclosure to the Philippine Stock Exchange, ALI said all of its business lines continued to perform […]

Vista Land raising P300M more on top of P4.5B five-year notes

The investment holding firm of the Villar family, Vista Land & Lifescapes (VLL), is raising P300 million more from its oversubscribed five-year corporate notes, which was last pegged at P4.5 billion. “Proceeds from the offering will be utilized partly to refinance some of the company’s existing debt and for general corporate purposes,” VLL said in […]

SMDC Posts P2.7-B Quarter Profit


MANILA, Philippines — SM Development Corporation (SMDC), the residential property arm of the SM Group, reported that its 2012 first half consolidated net income increased by 38 percent to P2.7 billion as home sales surged by 85 percent to P19.8 billion. In a disclosure to the Philippine Stock Exchange, the firm said that the number […]

Property boom transforming Philippine skylines

MANILA, Philippines—As a Philippine property boom gathers pace, even Paris Hilton, Donald Trump and high-fashion house Versace are getting a piece of the action. The good times are into their fourth year, fueled by steady economic growth, Western firms offshoring jobs to the Philippines, the buying power of millions of Filipinos working abroad and low […]

Okada, Tan in P45B property deal

MANILA, Philippines—Property magnate Andrew Tan has teamed up with Japanese tycoon Kazuo Okada to build a P45-billion upscale residential condominium complex as a key component of the latter’s $2-billion entertainment hub in Pagcor’s Entertainment City. Tan-led Empire East Land Holdings Inc. (ELI) disclosed to the Philippine Stock Exchange on Monday that it had signed a […]