Cebu Landmasters, Archdiocese of Cebu, Seal Agreement to Transform Patria de Cebu Property

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Cebu Landmasters Inc. (PSE: CLI) recently signed a lease agreement with the Archdiocese of Cebu for a PhP900-million redevelopment of a 6,670 square-meter property in the heritage-rich downtown area of the Queen City of the South.

The Patria de Cebu property, which currently offers budget-friendly accommodations for travelers, will be transformed into a mixed-use development. The approved masterplan will feature an integrated retail, office and hotel structure with a Rome-inspired plaza. The masterplan considers streetscape and pedestrian improvements for the revitalization of the surrounding downtown areas.

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CHP Achieves Record Cement Sales Volumes in 3Q2018

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Cemex Holding Philippines Inc. (PSE: CHP) achieved record quarterly cement sales volumes during the third quarter behind strong domestic demand. Cement sales volumes grew by 5% during the quarter and by 10% in the first nine months of this year compared with the same period in 2017.

CHP also reported an 8% increase in net sales during the quarter, reaching PhP6.0 billion. During the first nine months of the year, revenues were also up by 8%, amounting to P17.9 billion compared with PhP16.6 billion in the same period in 2017.

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URC 9M2018 Net Sales Up 3% to PhP95.5B

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Universal Robina Corp. (PSE: URC) posted net sales for the first nine-months of calendar year 2018 of PhP95.5 billion, a 3% increase versus last year. Sales growth in the third quarter ending September decelerated to 1% from the 6% posted in the first half. Recovery in Branded Consumer Foods (BCF) Philippines and Vietnam growth were partly offset by weaker New Zealand trading and the shift in timing on sugar sales. Operating income showed good improvement in third quarter posting 5% growth driven by the impact of selling price increases in BCF Philippines, continuous recovery in Vietnam, and effective cost management. This helped improve nine months operating income to Php10.1 billion, a tapering decline of 6% versus last year compared to the 11% decline in the first half.

URC nine months net income amounted to PhP7 billion, a decline of 17% due to lower operating income and foreign exchange loss due to the weaker peso. URC’s financial position remains strong with ending cash balance of PhP14.6 billion and a net debt position of PhP27.3 billion due to the remaining debt associated with the Oceania acquisitions. Gearing remains low and manageable at 0.51.

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PXP Energy Reports Unaudited Financial and Operating Results for 9M2018

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PXP Energy Corp. (PSE: PXP) has reported 9M 2018 Consolidated Net Loss Attributable to Equity Holders of the Parent Company at PhP31.4 million
(9M 2017: PhP23 million). Reported consolidated net loss at P49.1 million (9M 2017: PhP34.3 million).

Consolidated petroleum revenues 38.3% higher at PhP106.1 million (9M 2017: PhP76.7 million) resulting from the 38% improvement in crude oil price and the 1% increase in volume.

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IRC Properties Lands Makati Subway System Contract

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IRC Properties Inc. (PSE: IRC) received today from PPP Selection Committee of Makati City Government a Notice of Award for the construction and operation of the Makati Subway System to be implemented through a joint venture agreement.

The project has been awarded to the original proponent, IRC Properties, as the lead proponent of a consortium. The company shall, in due course, inform the public through a disclosure the schedule of commencement of operations, including ground breaking activities.

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Megaworld Building New Residential Tower at The Mactan Newtown

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Megaworld Corp. (PSE: MEG) is building its fourth residential development in the 30-hectare The Mactan Newtown in Lapu-Lapu City, Cebu.
The 20-storey La Victoria Global Residences will offer 181 spacious units ranging from studio of up to 40 square meters; one-bedroom units of up to 53 square meters; two-bedroom units of up to 80 square meters; and three-bedroom units of up to 118 square meters. All units will have their own balconies, overlooking the sea and the mountains.

Featuring an architecture inspired by Spanish edifices, the tower will reflect the historical significance of Galleon Victoria, the ship that brought Ferdinand Magellan to Cebu Island in 1521, who eventually faced a fatal defeat from the forces of Filipino warriors led by Lapu-Lapu.

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CLI Ventures Into Estate Development in Vismin

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Following the record take-up rates of its horizontal and vertical residential projects, Cebu Landmasters Inc. (PSE: CLI) is expanding into estate development to further solidify its market leadership in the Visayas and Mindanao region.

The listed developer and largest homegrown player in VisMin identified close to 200 hectares for estate development in the cities of Cebu, Mandaue, Mactan, Davao and Cagayan de Oro.

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SM Prime Net Income Up 17% in 9M18

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SM Prime Holdings Inc. (PSE: SMPH), one of the largest integrated property developers in Southeast Asia, recorded a 17% increase in its consolidated net income for the first nine months of 2018 to PhP23.44 billion from PhP20.05 billion of the previous year. The consolidated revenues went up by 15% to PhP74.56 billion from PhP64.69 billion of the same period being reviewed, while the consolidated operating income is up by 16% to PhP34.91 billion from PhP30.14 billion of last year.

SM Prime reported a 20% growth on its net income for the 3rd quarter of the year to PhP6.82 billion from PhP5.66 billion of the previous year. The surge in income growth is due to the increase of the company’s revenue by 16% to PhP24.79 billion from PhP21.44 billion of 2017.

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