Cebu Landmasters Earmarks PhP8.8B for 2018 Capex

Cebu Landmasters Inc. (PSE: CLI) is set to hit PhP5.3 billion year-end target revenue, 35% higher than last year’s, and invest PhP8.8 billion capex for land acquisition and project development this year.

The listed company also reports an outstanding 2017 and excellent Q1 2018 performance during its annual stockholders meeting on May 30 at the 38 Park Avenue showroom in Cebu IT Park, Cebu City.

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DMCI Mining Reports Flat Nickel Sales in Q1

DMCI Mining Corporation, the mining arm of DMCI Holdings Inc. (PSE: DMC), shipped 156 thousand wet metric tons (WMT) of nickel ore inventory during the first three months of the year, flat from the volume logged last year. Average selling price per metric ton was also flat at $38.

Majority of the shipments, or 106 thousand WMT, came from the old stockpile of Berong Nickel Corp. (BNC) while the rest were from the inventory of Zambales Diversified Metals Corp. (ZDMC).

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AUB Declares Cash Dividends

Asia United Bank (PSE: AUB), one of the country’s fastest-growing publicly listed universal banks, announced it will pay a total of PhP776 million in cash dividends.

In a disclosure to the Philippine Stock Exchange, AUB said its board of directors approved the declaration of cash dividends amounting to PhP1.60 per share to stockholders. The dividends will be payable in two tranches: PhP1 per share on May 31, 2018 for record date May 15, 2018, and PhP0.60 per share on August 10, 2018 for record date August 3, 2018 . The cash dividend will come from the unrestricted retained earnings of the bank. AUB first declared a cash dividend of PhP0.67 per share last June 24, 2016, only three years after its initial public offering.

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DMCI Homes Expands Land Bank to Meet Demand

DMCI Holdings Inc.’s (PSE: DMC) DMCI Homes has accumulated a total land value of PhP6 billion, expanding its land bank by nearly 41 percent since last year.

From 88.89 hectares during the same period last year, its total land bank expanded to 125.22 hectares. Majority of the newly-acquired raw land, or 125.22 hectares, are located in Metro Manila. The rest are in Luzon.

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AGI to Start Skytrain Project this Year

INFRACORP Development Inc., the infrastructure company of Andrew Tan’s Alliance Global Group Inc. (PSE: AGI), is ready to start the proposed 2-kilometer Skytrain monorail project this year after the Department of Transportation (DOTr) granted it the “Original Proponent Status” (OPS).

INFRACORP President Kevin L. Tan lauds the government’s ‘remarkable’ speed in reviewing the proposal.

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Megaworld Sold 70% of Shophouse District in Pampanga

Megaworld Corp. (PSE: MEG) has already sold around 70 percent of its Shophouse District in its Capital Town development in the City of San Fernando, Pampanga.

The 6.3-hectare Shophouse District, composed of 98 lots ranging from 276 square meters to 680 square meters, allows lot owners to build their own three-level shophouse in neoclassical and art deco architecture. They can use the ground and second levels of the shophouse for commercial purposes while the third level may be used as business owner’s residence.

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Cebu Landmasters Partners with Lyceum for University Township Project

Cebu Landmasters Inc. (PSE: CLI) expands its presence in the booming city of Davao by collaborating with globally competitive higher education institution Lyceum of the Philippines University (LPU) to develop the latter’s Davao campus into a mixed-use, and world-class University Town.

CLI is signing a Memorandum of Agreement (MOA) with Lyceum of the Philippines University for LPU Town Davao, which is set to begin development by Q4 2018. It is a 17- hectare mixed-use development that has academic, residential, commercial, office, hotel and convention components. 5.2-hectares of which is dedicated for its LPU Davao campus including an academic resource center, a pool, dormitories, maritime center, and a football field inside this development in Buhangin, Davao City.

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PSALM Issues Certificate of Effectivity on AboitizPower Subsidiary’s Purchase of Naga Power Plant Complex

Aboitiz Power Corp. (AboitizPower, PSE: AP) subsidiary Therma Power Visayas Inc. (TPVI) has received the Certificate of Effectivity (COE) from the Power Sector Assets and Liabilities Management Corp. (PSALM) to initiate the former’s purchase of the Naga Power Plant Complex located in Naga City, Cebu.

The COE implements the Sept. 28, 2015 decision of the Supreme Court, which upheld the April 30, 2014 award of the facility to TPVI.

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