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Consunji-led DMCI Mining hikes stake in Toledo to 37.7%

on Apr 30, 2014

Consunji-led DMCI Mining hikes stake in Toledo to 37.7%   Christian Bautista - Rappler.com Published 12:10 PM, Feb 19, 2013 Updated 12:16 PM, Feb 19, 2013 DMCI Mining increased its investment in British firm Toledo Mining Corporation to 37.7% through the acquisition of the 20.7% stake held by shareholder Jason Cropper.   MANILA, Philippines – The Consunji group’s mining unit increased its stake in Toledo Mining Corp. to 37.7% from 17% through a deal with an existing shareholder of the London-based miner. In a disclosure to the stock exchange on Tuesday, February 19, DMCI Holdings said its subsidiary, DMCI Mining, has acquired the 20.7% stake held by shareholder Jason Cropper for £24.9 million (equivalent to over P156 million). DMCI Mining, which is engaged in ore and mineral mining, bought the shares at 50 pence each. With the deal, DMCI Mining increased its stake to 18,818,344 of Toledo’s existing issued shares. “We are very pleased to have increased our investment in Toledo with the acquisition of Mr. Cropper’s shares. Our Offer to the remaining Toledo shareholders represents an attractive opportunity to crystallize a significant premium to the prevailing market price in cash today,” said DMCI Mining Chairman and CEO Isidro Consunji. DMCI Mining will make a mandatory cash offer for the shares. The agreement may result in DMCI holding over 50% of the voting rights in Toledo. The deal allows DMCI Mining to consolidate its ownership in Berong Nickel Corp., in which it owns 18.6% indirect interest, and its other mining assets in Toledo. It has a majority stake in Semirara Mining Corp., the open pit coal mining operation in Antique where 5 was killed in a recent accident. DMCI Mining has a market capitalization of $3.4 billion and has interests in construction services, water, mining and development, coal and ore exploration and power generation. Toledo Mining is listed in London’s AIM index. It has interest in two nickel companies in the Philippines, namely Berong and Ipilan Nickel...

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Robinsons Land awarded Best Overall Managed Company in the Philippines by Euromoney

on Apr 30, 2014

Robinsons Land awarded Best Overall Managed Company in the Philippines by Euromoney   Robinsons Land Press Release: MARCH 01, 2013   Leading international magazine Euromoney has named Robinsons Land as winner of the overall best managed company in the Philippines in the Euromoney ‘Best Managed and Governed Companies Asia Poll 2013.   Analysts praised Robinsons Land for its leading role in promoting transparent communication to investors, citing that “the company has a clear strategy and good visibility.” Robinsons Land President Frederick Go noted that the company’s efforts in managing resources wisely over the past two decades and its team of talented and dynamic people have allowed it to gain success and patronage in areas where they build. With this latest citation, the real estate property arm of JG Summit Holdings Inc. has cemented anew its foothold in the local real estate market, providing itself to be a major player in property development with 32 malls, 8 office buildings, 9 hotels, 59 residential condominiums and 32 housing subdivisions throughout the country. “Moving forward, RLC will be aggressively growing its recurring income base through our investment portfolio which includes our malls, offices and hotels and we will continue to take advantage the growth opportunities of our residential business as we capitalize the growth prospects in the Philippine economy,” said Mr. Frederick...

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Rockwell Land income up 23%

on Apr 30, 2014

Rockwell Land income up 23%   By Neil Jerome Morales (The Philippine Star) Updated March 12, 2013 - 12:00am MANILA, Philippines – Upscale property developer Rockwell Land Corp. said it has pierced through the P1-billion income mark for the first time last year. In a disclosure, the property firm of the Lopez family said its earnings jumped 23 percent to P1.1 billion, up from P914.9 million in 2011. “The substantial growth was primarily driven by strong sales, timely construction completion of existing projects and solid recurring income business,” Rockwell said. Reservation sales spiked 87 percent to P9.2 billion due to strong sales take-up of the Grove project and newly launched projects 205 Santolan and the first two towers of the Proscenium. 205 Santolan is the property firm’s first townhouse project launched last year, while the Kiron and Sakura towers of the Proscenium were launched last November, offering 367 units that generated sales of P2.5 million in its first month of selling. Rockwell said total revenues grew 10 percent to P6.7 billion. Bulk of the revenues came from residential development that picked up 11 percent to P5.8...

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Ayala Land earnings reach P11.74B in 2013

on Apr 30, 2014

Ayala Land earnings reach P11.74B in 2013 Ayala Land News Release: February 19, 2014 February 17, 2014 – – Ayala Land, Inc. (ALI) has kept its profit trajectory earning a record P11.74 billion in net income in 2013, a 30% increase from the P9.04 billion posted in 2012. It also exceeded its target one year ahead of its five-year plan. “Strong growth by each of our business lines showed good execution of the growth strategy with the increased delivery of new products in new geographies,” said ALI president and CEO Tony Aquino. “Market acceptance of the products was enhanced by their presence in our integrated mixed use communities across the country and the strong ALI brand.” ALI’s five residential brands launched a total of 28,482 units in 2013 worth P108 billion and the Company plans to launch 30,000 units across all residential brands this year, anticipating continued demand for housing products. It broke ground for three new estates last year, the 21-hectare Circuit Makati, the 32- hectare Atria in Iloilo, and the 100-hectare Altaraza in Bulacan. “During the same period of high profit growth, ALI also doubled its landbank, improved its organizational capability and strengthened its capital structure. These foundations will enable ALI to grow further in the years ahead,” he added. The Company’s consolidated revenues reached P81.52 billion, 36% higher year-on-year. Revenues from Real Estate, which comprised the bulk of consolidated revenues, increased by 40% to P76.34 billion mainly driven by the strong performance across the Property Development, Commercial Leasing and Services business lines. ALI spent a total of P66.26 billion in capital expenditures in 2013, 7% lower than the P71.29 billion spent the previous year. “The Company continued to take advantage of favorable market conditions with its successive fund raising activities, ranging from the two equity top-up placements made over the last two years and the series of bond offerings which were all successfully priced and executed,” said ALI Chief Finance Officer Jaime E. Ysmael. “These enabled ALI to fund its aggressive capex program which allowed it to secure strategic landbank positions in key growth centers and support business expansion.” ALI has allotted another P70 billion in 2014 primarily earmarked for the completion of ongoing developments and new...

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