Maniolas

MANILA, Philippines – Listed boutique property developer Arthaland Corp. formally filed with the Securities and Exchange Commission its application for a preferred share offering amounting to as much as P3 billion. Proceeds would be used to finance the development of the Cebu Exchange (P53.6 million),  Biñan Laguna project (P458.8 million), Makati Residential (P371.6 million) and South of Metro Manila project (P822.4 million). Preferred shares are cumulative, non-voting, non-participating, non-convertible and peso-denominated. The company filed a three-year shelf registration for 30 million preferred shares. It intends to sell the peso-denominated preferred shares with a par value of P1 for P100 a piece. Based on its filing, Arthaland intends to initially offer P1 billion worth of preferred shares with an oversubscription option of another P1 billion. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The net proceeds will be used to partially finance the acquisition and development of the company’s real estate projects, repayment of loans and general corporate purposes. The Cebu Exchange project is a commercial development located within the Cebu IT Park in Barangay, Lahug, Cebu City.  The land was acquired by Arthaland subsidiary Cebu Lavana Land Corp. last year. The company expects to launch the project in the third or the fourth quarter of the year. Construction is expected to start in the second quarter of 2017. For the Biñan Laguna Project, Arthaland unit Cazneau will develop an 8.2-hectare residential community project in the province. It will the first campus-type residential community project and will feature a mix Read More …

SOME mining firms in the country passed the Environment department’s completed audit,its chief said on Friday, even as the agency is still processing the results of its probe.

What a tagline! Everywhere I go in the country, I open the line and say, “Change is….” and everyone in my audience will complete the line and say, “Change is coming.” It ranks as popular as the phrase, “It’s more fun in……the Philippines,” as my audience would declare and then smile and laugh about it. There are so many changes happening in the political scene and in the business scene, but what about changes that are not coming, at least in the immediate future? Well, let’s take a careful look into these things. Here are the things that will not change: 1. EDSA traffic will still be a problem and it would take time and immediate measures to improve the situation. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 2. Some politicians will still lie and steal, even though there is a higher sense of consciousness and apprehension these days. 3. Business will continue to be uncertain. 4. Business competitions will continue to rise. 5. Price competitions will always be there. 6. Technology will still churn out things that will change consumer behavior and will threaten many established industries. 7. You and I will grow old. 8. Life will still be laced with challenges and trials and the pace of it will add more stress to many of us. On the other hand, these are the good things that will not change: 1. Life is beautiful, especially if you wake up every morning and realize it is a gift Read More …

The government’s economic team is unlikely to back the Department of Labor and Employment’s proposed P125 across-the-board wage hike for workers in the private sector as this would impede economic growth and bloat unemployment, Trade Secretary Ramon Lopez said. STAR/File photo MANILA, Philippines – The government’s economic team is unlikely to back the Department of Labor and Employment’s proposed P125 across-the-board wage hike for workers in the private sector as this would impede economic growth and bloat unemployment, Trade Secretary Ramon Lopez said. Citing data from the National Economic and Development Authority (NEDA), Lopez said the planned P125 across-the-board wage hike could slow the pace of the country’s economic acceleration placed at 6.5 percent to 7.5 percent to somewhere between 5.5 percent to 6.5 percent. He said the proposal would also expand the country’s unemployment rate to about 7.3 percent from a baseline of 6.1 percent. “Definitely overall, what this shows is inflation will go up. That is also one percentage point down for our gross domestic product. And unemployment rate would increase one percentage point more or less because obviously once prices go up, (companies) would cut on their workforce,” Lopez said. “So in other words it does not look good, so even NEDA does not support it. We (in DTI) will not support it definitely,” he added. DOLE Secretary Silvestre Bello has earlier ordered all the Regional Tripartite Wages and Productivity Boards to conduct nationwide consultations on the legislative measures proposing for a P125 across-the-board general wage increase Read More …

The stock market plunged 154.66 points or 2.006 percent to finish at 7,553.76 yesterday following a technical rally on Thursday. AP file photo/Bullit Marquez MANILA, Philippines – The stock market plunged 154.66 points or 2.006 percent to finish at 7,553.76 yesterday following a technical rally on Thursday. Analysts said the drop was expected following Thursday’s unusual jump . “Well I think majority of the decline was caused by the unusual jump yesterday on close – maybe due to last second index buying prompted by an oversold market. But because prices normalized off that heavy up sway, the negatives began to pile in. We still see corrective bias but the oversold state will cause hiccup rallies on occasion,” said Juanis Barredo, vice president and chief technical analyst at COL Financial. Luis Limlingan, managing director at Regina Capital said the market simply resumed its downward trend. “The Philippine markets resumed their downward trend as it took yesterday’s run up as an anomaly. The 7,700 resistance proved rather firm as we slipped closer back to the 7,500 level. Markets became choppy once more as investors continue to speculate on the upcoming US Fed rate hike decision next week,” he said. During yesterday’s session, the broader All Shares index also plunged 55.83 points or 1.21 percent. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 All counters likewise retreated into negative territory following Thursday’s upward trend. Total value turnover closed at P13.80 billion as foreign selling continued. Decliners edged out advancing stocks, 102 to Read More …