Maniolas

MANILA, Philippines – Robinsons Retail Holdings Inc. (RRHI) spent P3.53 billion in the first half or more than two-thirds of the full year budget as as it continues to grow its business. As of the end of June, Robinsons Retail had 1,527 stores while its gross floor area increased by 10.7 percent to about 998,000 square meters. Including The Generic Pharmacy’s franchised store portfolio of 1,878, the group’s total store network hit 3,405. RRHI reported an 8.6 percent rise in its first half earnings to P2 billion while core earnings went up 13.5 percent to P1.75 billion. In the second quarter, RRHI’s net income climbed 14.4 percent to P1.24 billion while core net earnings rose 16.3 percent to P1.05 billion. Consolidated net sales for the second quarter expanded by 18.5 percent to P25.64 billion due to the sustained high single-digit same-store sales growth, sales contribution of the new stores as well as sales from Savers Appliances (acquired in September last year) and The Generics Pharmacy (acquired in May). Business ( Article MRec ), pagematch: 1, sectionmatch: 1 For the first six months, net sales went up 16.9 percent to P48.33 billion, partly due to the successful and peaceful national elections in May, lower commodity prices and stable interest rate environment. RRHI said its balance sheet remained solid with cash, cash equivalents and liquid marketable securities amounting to P27.65 billion as of the end of the first half.

THE Philippines is a “rare safe haven” for investors, Finance Secretary Carlos G. Dominguez III said, adding that Mindanao, as the focus of the new government’s economic strategy, will be particularly attractive for businesses.

The Parañaque sewer network will catch, collect and convey wastewater generated from households in nine barangays and 95 subdivisions to the company’s sewage treatment plant. MANILA, Philippines – West Zone concessionaire Maynilad Water Services Inc. is investing P3.7 billion for a sewer network in Parañaque City, as part of efforts to expedite the provision of sewerage and sanitation services in Metro Manila. The Parañaque sewer network will catch, collect and convey wastewater generated from households in nine barangays and 95 subdivisions to the company’s sewage treatment plant. It will also ensure the proper removal of harmful elements from the wastewater and protect community health and the environment. The project involves the laying of about 65 kilometers of sewer pipes. As of last month, Maynilad had already laid around 16 kilometers of sewer pipes. “Laying new wastewater infrastructure is in line with our mandate to help reduce pollution loading into river systems,” Maynilad president and CEO Ramoncito Fernandez. Funded by the Development Bank of the Philippines and Japan International Cooperation Agency, the project is targeted for completion by the third quarter of 2017 and will benefit more than 500,000 customers. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Meanwhile, the company is also in close coordination with Parañaque City’s Traffic Management Office to manage traffic flow in worksites and minimize inconvenience to motorists and pedestrians. Maynilad is investing P42 billion until 2018 to accelerate improvement and expansion of its water and wastewater services. For 2016 alone, Maynilad is allocating P13.6 Read More …

Listed technology firm MANILA, Philippines – Xurpas Inc. grew its first half net income 15 percent to P132.51 million, driven by the continued growth of its digital products and services. The company registered revenues of P736.09 million, up 136 percent year on year. Excluding non-recurring expenses related to its ongoing expansion, the firm’s core net income grew 18 percent to P136.08 million. Xurpas president and COO Raymond Racaza said the company would continue to expand its games and products. “To say we are excited about what lies ahead is a huge understatement. We continue to aggressively expand our enterprise business, but also remain extremely bullish about the prospects for our mobile consumer segment. We are looking forward to bring our next family of games and products to the market,” Racaza said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Enterprise services surged 1,113 percent to P308.87 million due to the full effect of the acquisition of Yondu Inc. The amount accounted for 42 percent of the company’s first half revenues. This reflects management’s commitment to develop multiple sustainable revenue streams, while continuing to build on it’s core business, Xurpas said. On the other hand, mobile consumer services demonstrated continued its upside potential, delivering P397.04 million in revenue, or a 63 percent increase from the same period last year. Racaza said the company has not yet fully utilized the P1.2 billion proceeds from an overnight top-up placement made in April.  “We are not yet done optimizing our avenues for growth, Read More …

“That website will be interactive. Everything will be made transparent. We’ll be doing, either big or small companies, DENR Secretary Gina Lopez said. ABS-CBN PR/File/Released MANILA, Philippines – The Department of Environment and Natural Resources (DENR) is set to come out with a website where all audit findings concerning mining companies will be made public, its top official said. “That website will be interactive. Everything will be made transparent. We’ll be doing, either big or small companies, DENR Secretary Gina Lopez said. Apart from mining permits issued to companies, all the environmental compliance certificates will also be subjected to audit and review. We will not be selective,” she added. Lopez also plans to put up her own blog to document and discuss the audit being done by the department, as well as other activities of the DENR. She reiterated the DENR would not hesitate to shut down all mining operations that will be found to have violated environmental and health and safety laws and regulations. “If you break the law, you face the consequences of breaking the law. Whatever the law says that’s what we should follow. If you break the law, there are penalties,” Lopez said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 So far, the DENR has suspended operations of 10 mining companies. The three which were recently suspended include the Bulacan-based Ore Asia Mining Development Corp., and Mt. Sinai Exploration Mining and Development Corp. and EMIR Mineral Resources Corp. both in Homonhon, Eastern Samar. Ore Read More …