Cebu Landmasters Ends 2017 with Record PhP4.58B Reservation Sales

Property developer Cebu Landmasters Inc. (PSE: CLI) finished the year 2017 with PhP4.58 billion in total reservation sales, exceeding its target by 13.75 percent and beating the 2016 result by 55.6 percent.

CLI attributed its exceptional performance mainly to newly launched residential projects: 38 Park Avenue (Cebu IT Park) with 745 units, Casa Mira South (Cebu) with 3,200 units, Mivesa Garden Residences (Cebu) with 1,514 units, Mesaverte (Cagayan de Oro) with 798 units, and the 694-unit MesaTierra (Davao City). These projects are now almost fully sold.

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PH Now a BIS-Reporting Country

The Philippines will join an elite group of less than 50 jurisdictions worldwide which report cross-border banking statistics to the Bank for International Settlements (BIS) as part of the global database.

After months of testing and validation, cross-border banking data maintained by the Bangko Sentral ng Pilipinas (BSP) has been judged as meeting the rigorous BIS standards for completeness and quality.

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PhilRatings Assigns Aaa Rating to SM Prime’s Proposed Bond Issue

The Philippine Ratings Services Corp. (PhilRatings) assigned a rating of PRS Aaa to SM Prime Holdings Inc.’s (PSE: SMPH)proposed bond issue of PhP15 billion, with an oversubscription option of PhP5 billion, for a maximum aggregate amount of PhP20 billion.

The bonds are part of the company’s proposed 3-year Debt Securities Program of up to PhP60 billion. The rating for SMPH’s outstanding bonds amounting to PhP70 billion was likewise maintained at PRS Aaa. PhilRatings assigned a Stable outlook for the ratings of the proposed and outstanding bonds.

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Aboitiz Power Subsidiary Aseagas Shuts Down Plant

Aboitiz Power Corp. (AboitizPower, PSE: AP) announces that the biomass plant operated by its wholly-owned subsidiary Aseagas Corp. will permanently cease operations.

Aseagas earlier suspended its commissioning due to unavailability of the supply of organic effluent wastewater from its supplier, Absolut Distillers Inc. The company also took the opportunity to assess the plant’s other issues, and after a full assessment, decided to make the plant shutdown permanent.

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SM Prime to Issue Up to PhP15B Fixed Rate Retail Bonds

SM Prime Holdings Inc. (PSE: SMPH) has filed with the Securities and Exchange Commission (SEC) an application for a permit to sell for the issuance of fixed-rate bonds in the amount of PhP15 billion with an over subscription option of up to PhP5 billion with maturities of 5 years and 7 years.

The issuance is part of the Company P60 Billion Shelf Registration of Fixed Rate Bonds approved by the SEC on 8 July 2016 under the SEC MSRD Order No. 11 series of 2016 dated 12 July 2016.

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Personal Remittances for 11M2017 Reach $28.2B

Personal remittances from Overseas Filipinos (OFs) reached $2.5 billion in November 2017, 3.2 percent higher than the level posted in the same month in 2016, according to the Bangko Sentral ng Pilipinas (BSP). This brought the cumulative remittances for the first 11 months of 2017 to $28.2 billion, representing a year-on-year growth of 5.1 percent, BSP Governor Nestor A. Espenilla Jr. said.

The growth in personal remittances for January to November 2017 was supported by the sustained expansion of remittances from land-based OFs with work contracts of one year or more (3.7 percent) as well as those from sea-based and land-based OFs with work contracts of less than one year (5.1 percent).

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Southwoods Office Towers Get PEZA Accreditation

The new office towers in Southwoods City in Biñan, Laguna, have been given the required accreditation of the Philippine Economic Zone Authority (PEZA) as a special economic zone for information technology (IT).

This after President Rodrigo Duterte recently signed Presidential Proclamation No. 383 naming the Southwoods City Office Towers 1 and 2 as a special economic zone.

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EasyCall Brings Connectivity to Remote PH Areas

EasyCall Communications Philippines Inc. (PSE: ECP), now led by Zaki Delgado, continues to focus its efforts on data communications and satellite technology to bring connectivity to far-flung Philippine provinces.

EasyCall, who soared to market leadership in the 1990s as a top provider of pagers, has since shifted direction after the onset of SMS and text messaging in the 2000s. From its active involvement in the IT-BPO industry over the past decade, it has turned to Very Small Aperture Terminal (VSAT) technology to bridge the digital divide in the country.

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