Welcome to the top twenty something index issues of the PSEi that have big market capitalization, plus some banks and financial big caps as well
IFC provides additional $12.5-M loan to Eastwood Cyberzone
By Zinnia B. Dela Peña
The Philippine Star 07/02/2005
Eastwood Cyber One Corp., a wholly-owned subsidiary of Megaworld Corp., has secured a $12.5-million long-term loan facility from the International Finance Corp. (IFC), the private sector arm of the World Bank.
In a disclosure to the Philippine Stock Exchange, Megaworld said the loan, payable in 10 years inclusive of a three year-grace period on principal payment, will be used to fund the development of a new office building at the Eastwood City Cyberpark in Quezon City. Principal and interest amortizations of the loan will be sourced from internally-generated funds.
Collaterals for the loan will consist of a first ranking mortgage over Eastwood’s real estate properties and a full guarantee from parent company Megaworld.
The new office building, estimated to cost P3 billion, shall cater to business process outsourcing (BPO) and information technology firms.
Megaworld chairman and president Andrew Tan said this project, geared to cash in on an escalating demand for made-for-BPO office space, will assure the company of long-term leadership in the BPO-oriented segment of the market.
Megaworld has transformed its pioneering Eastwood City CyberPark into the country’s premier IT hub. To date, BPO tenants occupy around 80,000 square meters of office space at the Eastwood City CyberPark, making Megaworld the industry’s number one landlord.
Among these companies include e-Telecare, the world’s most awarded and largest Asia-based call center; Sitel Corp., one of the world’s top five call centers in terms or revenue and a provider of outsourced customer interaction solutions; and Globalstride.
Megaworld expects its net profit to grow by more than 20 percent this year, mainly coming from the rentals of office space by outsourcing companies and higher sales from middle-income projects. Revenues are likewise seen to go up by more than 30 percent this year because of escalating rentals in the office sector.
Last year, Megaworld posted a net income of P759.72 million or 32.3 percent higher than the P574.21 million reported in 2003. Revenues, on the other hand, went up 21 percent to P4.21 billion from only P3.48 billion.
For the past four days, this stock has been holding to its 1.18-1.20 price range...today it went to 1.24....mmmm, mukhang malakas...sabagay before the crisis this was at 1.40 range plus the 20% stock dividend
Hope it continues to trace its roots - 1.40
discl: bought some today due to 220's buying :wink:
Megaworld ties up with Marriott on hotel project in Manila
Posted: 10:39 AM | Jul. 20, 2005
Erik de la Cruz
MEGAWORLD Corp said it has signed a Memorandum of Understanding with Marriott Hotels International BV for the operation and management of a first-class, full-service international hotel to be constructed near Manila's international airport.
"Megaworld shall plan, design, construct, furnish, equip and own the hotel, which shall have approximately 350 guest rooms and shall engage Marriott to manage the hotel as a Marriott System Hotel," Megaworld treasurer Francisco Canuto said in a letter to the stock exchange.
"Marriott shall provide technical services in an advisory role during the planning, designing, constructing, furnishing and equipping of the hotel and is expected to provide inputs on standards for the hotel and for the furniture, fixtures, and equipment," he added.
He did not give other details of the partnership.
The hotel will be located in the seven-billion-peso Newport City project, to be built by Megaworld in Pasay City, and which will also feature medium-rise residences, a retail and leisure complex and a business and technology park.
At 10:16 am, Megaworld was up 0.08 peso at 1.32.
Philippines Megaworld 2Q Net PHP208.81M, Up 34% On Yr
August 15, 2005 03:38 ET
Philippines Megaworld 2Q, 1H Earnings Table >MEG.PH
Megaworld Corp. (MEG.PH) - Manila
2Q ended June 30
All figures in pesos (PHP)
Revenue PHP1.21 Bln PHP676.30 Mln
Expenses 978.06 Mln 467.31 Mln
Operating Profit 234.77 Mln 208.60 Mln
Net profit 208.81 Mln 156.40 Mln
1H ended June 30
Revenue PHP2.59 Bln PHP1.90 Bln
Expenses 1.94 Bln 1.40 Bln
Operating Profit 642.55 Mln 503.60 Mln
Net profit 518.87 Mln 398.87 Mln
Results are unaudited and conform to Philippine accounting standards.
August 15, 2005 03:56 ET
Philippines Megaworld 2Q Net PHP208.81M, Up 34% On Yr
MANILA (Dow Jones)--Megaworld Corp. (MEG.PH) said Monday its net profit rose 34% on year to PHP208.81 million in the second quarter, boosted by strong sales of its high-rise projects and income from its leasing operations.
The Philippine property developer said revenues in the April-June period jumped 79% on year to PHP1.21 billion.
The second-quarter results brought the company's first-half net profit to PHP518.87 million, up 30% on year.
Megaworld said revenue in the January-June period rose 36% on year to PHP2.59 billion, largely on robust sales of its residential projects in the financial district of Makati, suburban Quezon City, and nearby areas.
Expenses during the period rose 39% on year to PHP1.94 billion because of aggressive marketing activities.
"There were no seasonal aspects that had a material effect on the financial condition or results of operations of the group" in the first half, Megaworld said in a report to the Securities and Exchange Commission.
"Neither were there any trends, events or uncertainties that have had or that are reasonably expected to have a material effect on net sales or revenues or income from continuing operations," it said.
By Cai U. Ordinario, Researcher
The Securities and Exchange Commission (SEC) approved the application of Megaworld Corp. to increase its authorized capital stock to address the high demand in the property sector.
Megaworld said that the increase of its authorized capital stock to P20.2 billion from P13.2 billion will allow the public to invest, purchase, acquire, or dispose of the company’s real and personal property.
The board and the shareholders of Megaworld in June approved the increase in its authorized capital stock. The company now has P16.2-billion worth of common shares and P4-billion worth of preferred shares.
Previously, high demand in the sector also allowed Megaworld’s board to declare a stock dividend and increase its authorized capital stock. The board and the shareholders approved a 20-percent stock dividend.
The Philippine Economic Zone Authority (PEZA) recently agreed to turn a portion of Megaworld’s development in McKinley Hill into an Information Technology Park.
Around 35 hectares of Megaworld’s 50-hectare McKinley Hill development would now be turned into McKinley Hill Cyberpark. McKinley Hill is a joint venture development of Megaworld and its parent company Alliance Global Inc. with the Bases Conversion Development Authority.
The project, which is a mixed-use development in Fort Bonifacio in Taguig, also has a portion devoted to residential lots and condominiums with shops and recreational centers.
Ruby Anne M. Rubio
The Securities and Exchange Commission (SEC) has approved the increase in Megaworld Corp.'s capital stock to P20.2 billion from P13.2 billion.
In a letter to the exchange, Megaworld, treasurer and corporate information officer, Francisco C. Canuto, said the corporate watchdog had set Nov. 12 as the record date for the 20% stock dividend.
The listed company would issue 1.78 billion shares out of the P7 billion increase in its authorized capital stock to cover the stock dividend.
"The commission has verbally advised us that it is designating Nov. 12, 2005 as the record date for the 20% stock dividend declared by Megaworld's board of directors on May 10, 2005 and approved by its stockholders on June 17, 2005. However, as of the time of this disclosure, the commission has yet to issue an order officially designating the record date for the 20% stock dividend," Mr. Canuto said.
The increase in capital stock to P20.2 billion will be divided into 16.2 billion common shares and four billion preferred shares with par value of P1 each.
Megaworld develops large-scale projects in prime locations in Metro Manila. It is initially known for its high-rise and upscale residential and office projects as well as townhouse community developments.
MEGAWORLD Corp said its board of directors has approved the company's subscription to 250 million shares of Fairmont Holdings Inc at a cost of 250 million pesos.
The shares will be issued out of a proposed one-billion peso increase in Fairmont's authorized capital stock. Megaworld Corp has a direct 11.75-percent stake in Fairmont.
Fairmont, formerly BW Resources Corp, earlier said its board of directors approved in June 2002 a resolution to increase the company's authorized capital stock to 3 billion pesos.
In a disclosure to the stock exchange Friday, Megaworld said 25 percent of the subscription price, or 62.5 million pesos, shall be paid upon signing of the subscription agreement.
"Megaworld's infusion of fresh capital into Fairmont would enable Fairmont to pursue the development of various socialized and mass housing projects," Megaworld said.
Manila's Megaworld 9-mth net up 31 pct on year
MANILA, Nov 15 (Reuters) - Nine months ending Sept. 30, 2005.
(in billions of pesos)
Net income (million) 740.49 vs 564.11
Revenues 3.86 vs 3.11
Earnings per share (basic, peso) 0.08 vs 0.06
Who is online