Isuzu posts 9.5% sales hike

 Economy
May 282014
 
Isuzu posts 9.5% sales hike

MANILA, Philippines – Sales of Isuzu Philippines Corp. (IPC) grew 9.5 percent in the January to April period compared to the previous year, given the strong demand for the D-Max pickup and trucks.    According to IPC, it sold 4,154 vehicles in the first four months of the year, up from the 3,793 units sold during the same period in 2013.    The higher sales for the four month period was supported by the performance of the D-Max pickup.    As of end-April, the firm’s sales of the D-Max jumped 78.7 percent to 1,292 units from just 723 units in the comparable period last year.    IPC’s trucks also helped drive sales higher for the period.    For the January to April period, the company’s sales of medium-duty Category IV trucks reached a total of 219 units, an 11.2 percent increase from the 197 units sold during the same period last year.    Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Sales of the N-Series for the four month period, meanwhile, rose 37.2 percent year-on-year to 668 units.     “The upward trend in the movement of Isuzu’s trucks confirms that entrepreneurs, companies with vehicle fleets and other businesses continuously patronize these models,” IPC president Nobuo Izumina said.    “Clearly, Isuzu trucks’ reputed competence at serving a variety of purposes is recognized and is required by the market. Our efforts to directly reach out to our customers, like during the recent Truck Fest event held in Clark, Pampanga, where many of the guests were company owners, certainly Read More …

Century Properties breaks ground for The Spire

 Economy
May 282014
 
Century Properties breaks ground for The Spire

MANILA, Philippines – Real estate developer Century Properties Group Inc. expects more than P8 billion in sales from its eighth and last upscale residential tower in its flagship mixed-development Century City in Makati. The listed property firm of the Antonio family broke ground yesterday for Century Spire, a 60-story upscale residential and office tower in collaboration with Studio Daniel Libeskind and Armani/Casa Interior Design Studio. “We’ve sold close to 67 percent of our units to date,” said Jose Roberto Antonio, Century Properties managing director and Century Spire project head. Antonio said Filipino and foreign buyers are taking advantage of the project’s prime location which is at the heart of modern Makati, stellar architecture, and modern design. Kristina Garcia, director for investor relations of Century Properties, said projected sales revenue from Century Spire is expected to reach P8.4  billion. Century Spire is a glass-clad high-rise tower that expands with an iconic crown. World renowned architect Daniel Libeskind created a design crescendo at the top of the tower by placing a glass-clad form between the two highest tower shafts. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “I am delighted to be part of a project destined to reshape Manila’s skyline and to make a bold and optimistic statement about the future of the Philippines,” said Libeskind, the master planner for the World Trade Center redevelopment in New York. “It is a privilege to work with a visionary like Daniel Libeskind. Together with Armani/Casa, he will set the bar even higher Read More …

Meralco seeks expansion in other areas

 Economy
May 282014
 
Meralco seeks expansion in other areas

MANILA, Philippines – Manila Electric Co. (Meralco), the country’s top power distributor, is looking to expand its business in new areas within and outside its franchise area, its top official said. “We are looking for opportunities in new areas. We’re looking in the north Pampanga all the way to La Union,” Meralco president Oscar Reyes said. He said the company is also eyeing the southern part of Luzon such as the Laguna area. “In the South we are looking (from) parts of Laguna where we’re not yet there to the Batangas (area),” Reyes said. Outside its franchise area, Meralco may also establish presence in the Visayas or Mindanao by acquiring a stake in existing distribution utilities or electric cooperatives (ECs). “As far as parts of Visayas and Mindanao, our objective is those areas where Meralco can be of value because we have the resources, we have the track record and we have the experience. Because if there are already utilities there, private distribution utilities or ECs doing a good job there, Meralco can contribute. In that way we can help improve the countryside, we help improve the communities because we observed that when we go to certain areas, other businesses follow,” Reyes said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Meralco has also signed an agreement with the Philippine Economic Zone Authority (PEZA) for a 25-year agreement covering the power distribution facilities in the Cavite Economic Zone (CEB). The agreement will allow Meralco to operate and maintain the Read More …

Ford PH expands hot-selling Ranger lineup

 Economy
May 272014
 
Ford PH expands hot-selling Ranger lineup

MANILA, Philippines – Ford Philippines announced last week the expansion of its Ranger lineup with the addition of three new Wildtrak variants. The range-topping Wildtrak series will now include the 2.2L Ranger Wildtrak 4×2 in both automatic and manual transmissions, and a 3.2L Ranger Wildtrak 4×4 in manual transmission. These additional variants will be available by June in all dealerships at the following price points: 2.2L Ranger Wildtrak 4×2 MT at P1,219,000; 2.2L Ranger Wildtrak 4×2 AT at P1,289,000; and 3.2L Ranger Wildtrak 4×4 MT at P1,490,000. “The Ranger continues to be one of our top-selling nameplates and we are very excited to offer customers even more options to meet their needs,” said Kay Hart, managing director, Ford Philippines. A tough and stylish ride – the new 2.2L Ranger Wildtrak 4×2 The new Ranger Wildtrak 4×2 variants come with the proven Duratorq TDCi 2.2L engine in both 6-speed automatic and manual transmission, guaranteed to deliver more power in its segment, achieving peak torque output of 375Nm and power output of 150ps.  These new variants also include additional safety technologies that used to be exclusively available on the 3.2L Ranger Wildtrak such as side and curtain airbags. These airbags deploy from the headliner to provide a protective cushion for the head of outboard occupants in the event of a significant side impact while the curtain is designed to protect both rows of occupants by covering the upper side structure and glass from the A-pillar to the C-pillar. Business ( Article MRec Read More …

Income tax rate to be slashed by half?

 Economy
May 262014
 

A LOT has been said about tax burden, stifling tax rules, and tight Bureau of Internal Revenue (BIR) assessments. Many taxpayers believe that there’s already too much to bear in terms of the impact of taxes in the Philippines. In particular, for salaried employees, this is very much felt every payday, when they account for their meager take-home money, after being ripped by huge income tax deductions. For the individual investors alike, the weight of tax is felt when they see their corporations subjected to vast corporate income tax, in addition to the dividends tax that they have to pay when they earn their investment yield. Tie these to some recent confusing tax rules and unpredictably bizarre tax assessments, and we can imagine how a taxpayer in the Philippines would take a selfie of his face reacting to such situations.

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