Alliance Global profit up 13% to P23.1B

 Economy
Apr 302014
 
Alliance Global profit up 13% to P23.1B

MANILA, Philippines – Investment firm Alliance Global Group Inc. (AGI) recorded another banner year in 2013, posting double-digit growth in earnings and revenues driven by the real estate and liquor businesses. Ongoing expansion projects will allow the holding firm of property tycoon Andrew L. Tan to further improve its performance in the long term, the company said in a disclosure. Net income of AGI rose almost 13 percent to P23.1 billion last year from P20.5 billion a year ago while consolidated revenues picked up 21 percent to P123.4 billion from P102.1 billion. “We are elated that the group continues to show robust financial performance. We believe that all the ongoing expansion happening at the major subsidiaries of AGI will provide the impetus for sustained growth in the long run,” said AGI president and chief operating officer Kingson U. Sian. Net income attributable to AGI shareholders climbed by nearly a quarter to P17.2 billion from P13.9 billion in 2012. Specifically, attributable earnings from Emperador Inc. hit P5.3 billion, followed by Megaworld Corp. at P5.3 billion, Travellers International Hotel Group Inc. at P1.2 billion, Golden Arches Development Corp. at P387 million and Global-Estate Resorts Inc. (GERI) at P224 million. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Emperador, through its wholly-owned subsidiary Emperador Distillers Inc., sold 33 million cases of products, mostly brandy, last year, up by two million cases from 2012. AGI said Emperador recorded higher sales despite the increase in liquor tax at the start of 2013. “Megaworld’s performance Read More …

Toshiba subsidiary seeks PEZA incentives

 Economy
Apr 302014
 
Toshiba subsidiary seeks PEZA incentives

MANILA, Philippines – A subsidiary of Japanese engineering and electronics firm Toshiba  Corp. is seeking incentives from the Philippine Economic Zone Authority (PEZA) for the local production of hard disk drives.     “Toshiba Information Equipment Philippines Inc. with plant site at the  Laguna Technopark – Special Economic Zone has filed with the PEZA an application for pioneer status to be granted to its production of new  generation 2.5-inch  hard disk drive based on newness of product and  technology,” the PEZA said in a published notice yesterday.    PEZA said the application has been officially accepted and is  currently being processed.    If approved, the firm would be able to enjoy income tax holidays for six years. The PEZA, an attached agency of the Department of Trade and Industry,  is tasked to promote investments, extend assistance, register, grant incentives as well as facilitate the business operations of investors  engaged in export-oriented manufacturing in areas proclaimed by the President of the Philippines as PEZA Special Economic Zones.    Aside from export manufacturing, other activities which could qualify  for PEZA registration and incentives are information technology service export, tourism, medical tourism, agro-industrial export  manufacturing, agro-industrial biofuel manufacturing and logistics and  warehousing services.    Business ( Article MRec ), pagematch: 1, sectionmatch: 1 PEZA, likewise, gives incentives to firms engaged in the development and  operation of economic zones.    The government offers incentives to encourage investments to be made  in the country.  

Alphaland sells Shangri-La at The Fort stake

 Economy
Apr 302014
 
Alphaland sells Shangri-La at The Fort stake

MANILA, Philippines – Upscale property developer Alphaland Corp. has unloaded its minority stake in the Shangri-La at The Fort hotel and luxury residential project, giving it much-needed cash to continue operations. The asset disposal comes on the heels of several fundraising programs by the property firm of former trade minister Roberto V. Ongpin. In a disclosure, Alphaland said it completed yesterday the sale of a 20-percent stake in the Shangri-La at The Fort project. “The stake was sold to subsidiaries of Shang Properties Inc. for a total cash consideration of P1.7 billion,” Alphaland said. The 60-storey Shangri-La at The Fort is composed of 576 hotel guest rooms, 97 hotel residences and 96 exclusive Horizon Homes. It is scheduled to open in early 2015. The hotel features over 4,600 square meters of meeting and banqueting facilities including ballrooms, function rooms, a business center, a teleconferencing room, and a 350 square meter high-end outdoor events area. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The divestment in Shangri-La at The Fort marks the latest fundraising initiative of Alphaland. Despite facing a delisting process, Alphaland raised almost P300 million from the sale of 109 million new common shares to private foreign investors early last month to comply with the minimum public ownership requirement. “The subscriptions have resulted in a cash inflow of more than P272 million to the company, which it sorely needs in order to maintain operations,” the property firm earlier said. In March, the Philippine Stock Exchange (PSE) announced that Read More …

Freyssinet helps DPWH assess fire damage to Quezon Bridge

 News
Apr 302014
 
Freyssinet helps DPWH assess fire damage to Quezon Bridge

The DPWH promptly erected steel frames to serve as temporary support to the fire-damaged Quezon Bridge in Manila. MANILA, Philippines – Last April 10, a fire damaged the old Quezon Bridge in Manila, leaving six people injured and at least 70 families homeless. Frey-Fil Corp., licensee of Freyssinet International Manila Inc. (FMI), quickly sent a team of experts, including an international consultant, to inspect the damage caused by the fire. The team examined the damage twice to accurately ascertain the extent of damage in coordination with the local government and the Department of Public Works and Highways (DPWH). Aside from the obvious need for water jetting and repainting, the team also pinpointed certain repairs that need to be made. The DPWH also promptly conducted its own inspection and would erect steel frames in the meantime. Freyssinet has offered to assist the DPWH in the process. “Back then, they did not have the technology to allow bridges space to flex during seismic activity,” explained Frey-FiI project director Ron Brinkman. “Fortunately, now we do. In this way, we will also be able to preserve the heritage of these bridges, which have stood the test of time. All this is in keeping with the new Seismic Code,” Brinkman said. Brinkman was referring to Freyssinet’s proprietary design of dampers which act like shock absorbers and disperse the vibrations of seismic activity, and help bridges and buildings retain structural integrity and avoid the damage caused by earthquakes and similar phenomena. Introducing this technology in the Read More …

New deal doesn’t guarantee US help in PHL dispute with China – analyst

 Entertainment
Apr 302014
 
New deal doesn’t guarantee US help in PHL dispute with China – analyst

President Barack Obama, left, and Philippine President Benigno Aquino III participate in a bilateral meeting at Malacanang Palace in Manila, the Philippines, Monday, April 28, 2014. Obama said a 10-year agreement signed Monday to give the U.S. military greater access to Philippine bases will help promote regional security, improve armed forces training and shorten response times to humanitarian crises, including natural disasters. (MNS photo) MANILA (Mabuhay) – Will the US defend the Philippines in a military confrontation? Based on historical precedent, and even with the newly signed EDCA, it is unlikely, according to a UP academic who has written several books on Philippine-US relations. UP professor Roland Simbulan said the possibility of the US extending military aid to the Philippines in case of an armed conflict with China over disputed territories might just be a misconception. “Akala natin tutulungan tayo ng US ‘pag nagka-problema tayo, pero sa totoo lang, based on experience, hindi nila tayo matutulungan when worse comes to worst,” he said. Simbulan cited as an example the US government’s supposed refusal to enforce the Mutual Defense Treaty in the late 1960s when the Philippines was locked in a territorial dispute with Malaysia over Sabah. “Noong tinanong ng ating mga lider ang US kung maga-apply ba dito ‘yung Mutual Defense Treaty, ang sabi ng US, hindi kasi ally nila ang Malaysia. Ang [idea ng] automatic na pagtulong ng US sa atin ay maaring ilusyon lang natin,” he said. On Monday morning, Philippine Defense Secretary Voltaire Gazmin and US Ambassador Read More …

Pacquiao has lost his ‘pop’, Mayweather

 Entertainment
Apr 302014
 
Pacquiao has lost his ‘pop’, Mayweather

By Greg Heakes Manny Pacquiao throws a left hand at Timothy Bradley at the MGM Grand Garden Arena on April 12, 2014 in Las Vegas, Nevada and wins via a unanimous decision. Will Floyd Mayweather Jr. be next? (MNS photo) LOS ANGELES (AFP) – Floyd Mayweather says Manny Pacquiao has lost a step and that the Filipino’s superstar slide has coincided with his decision to split from former strength trainer Alex Ariza. The 37-year-old undefeated welterweight champ Mayweather weighed in Wednesday on the latest performance by Pacquiao who beat Timothy Bradley on April 12 in Las Vegas in a rematch of their first bout in June 2012. “Actually, I did watch the fight,” said Mayweather who is training to fight Argentina’s Marcos Maidana in a 147-pound title bout on May 3 in Las Vegas. “You know, I haven’t seen Pacquiao fight in years. I’ve seen highlights, but I haven’t seen Pacquiao fight since he fought Miguel Cotto.” Mayweather said he wasn’t impressed and fired a couple of verbal jabs of his own at Pacquiao. He said Pacquiao looked like an “amateur” and that in his opinion the World Boxing Organization welterweight champ has less power and stamina than he did five years ago. “I thought Pacquiao fought like an amateur and I wasn’t pleased with his performance,” Mayweather said. “He got the victory the best way he knew how. I’m seeing something totally different in Pacquiao.” Pacquiao worked with Ariza for five years before splitting with him last year. Ariza Read More …

Working student’s story helps others get cars from Victory autos

 Entertainment
Apr 302014
 
Working student’s story helps others get cars from Victory autos

Kristine Castillo, after receiving the keys from Merlinda Dichoso of Victory Autos, proudly displays her newly-purchased 2010 2-door Honda Civic she recently got from Victory Autos. If you don’t have perfect credit, Victory Autos can help you. All you need is a paystub. It’s been weeks, yet the story of Krissel Anne Dichoso, a working student who was able to buy a brand-new Toyota Camry through Victory Autos, seems to having a huge effect on so many others that are looking for a vehicle to purchase but are reluctant because they think they don’t have perfect credit. For those who may have missed Krissel Anne’s story, she used to just ride the bus going to and from work and also in going to school. Being a student and working at the same time was a little taxing to her, and hoped that  with a part-time job, she could get herself a car to ease her life a bit, which did happen, thanks to Victory Autos. Last week, her story was read by Danny Esguerra of Cerritos, whose van quit on him. But other car dealers didn’t give him any leeway as he couldn’t produce any amount for the down payment even if he tried to give his van in exchange for the initial payment. Inspired by Krissel Anne’s story, he too got a brand-new Camry from Victory Autos. Now, another happy Victory Autos customer would like to share her little story about reading the same small tale of Krissel Anne. Read More …

Identification with model conducive to learning, study suggests

 Entertainment
Apr 302014
 
Identification with model conducive to learning, study suggests

©Christine Langer-Pueschel/shutterstock.com  (Relaxnews) – In non-verbal contexts, learning occurs primarily through the observation and imitation of a model. In a recent study on this process in monkeys, researchers found that the learner’s ability to identify with the model appears to be an essential condition of learning. To explore the effectiveness of different modes of non-verbal social learning, researchers from the Lyon Neuroscience Research Center in France chose to work with rhesus macaques, a species of monkeys known for their biological proximity to humans and their ability to imitate. Monkeys trained to find a food reward hidden by an object were tested with three different learning models in succession. The first model was another macaque, who immediately ate the reward once it was found. The second was a “stimulus-enhancing” human, who actively drew the monkey’s attention to the object concealing the food. Finally, the third model was a “monkey-like” human who performed the task exactly as the monkey would, including eating the food reward. After each of these exercises, the researchers evaluated the monkeys’ learning by testing whether they were capable of reproducing the same results on their own. “The results show that monkeys learn more effectively if the exercise is demonstrated by a model that acts like they do, in other words, who eats the reward once it has been found,” explain the study’s authors in a press release. “It even seems that this is an essential condition for skill transfer,” indicates co-author Elisabetta Monfardini. Another key finding was that Read More …

Kim Jones, Jericho Rosales to postpone honeymoon for ‘The Legal Wife’

 Entertainment
Apr 302014
 
Kim Jones, Jericho Rosales to postpone honeymoon for ‘The Legal Wife’

Kim Jones and Jericho Rosales (MNS photo) JERICHO Rosales said his honeymoon with future wife Kim Jones will have to wait as he is still busy taping the hit primetime series “The Legal Wife.” On Labor Day, the actor and the television host will exchange wedding vows in the world renowned Boracay Island in Malay, Aklan. During a pocket press conference of the “The Legal Wife”, Rosales said that the garden wedding will be followed by a beach reception. The wedding ceremony will be attended by the couple’s family members and friends of the couple in the entertainment business. “Yung family namin of course andoon, yung friends namin na involved sa relationship naming dalawa. ‘Yung dalawa lang. It’s a very small wedding, very intimate,” he said. Rosales added that both of them have no wedding jitters and everything is set for the special occasion. “I’m very excited and I cannot wait. I’m the most excited and chill na groom-to-be. Sometimes I feel na medyo stressed (Kim). I feel a little bit bad because I’m super busy and I wish I had more time (to help her). Pero na-handle naman namin ng maayos,” he said. After the wedding, the actor will immediately return to work because they are still taping for the upcoming episodes of “The Legal Wife.” “Unfortunately, we have to postpone muna because of ‘The Legal Wife’. Pagkatapos ng wedding I have to go back to ‘Legal Wife’ but I have a few days break,” he said. Jericho continued: Read More …

 Older Entries  Newer Entries