Global Estate posts 10% hike in net income

 Economy
Apr 162014
 
Global Estate posts 10% hike in net income

MANILA, Philippines – Tourism estate developer Global -Estate Resorts Inc. (GERI) of property tycoon Andrew L. Tan reported higher profits last year as sales of its leisure projects remain strong. In a regulatory filing, GERI said its net income rose nearly 10 percent to P321.39 million from P294.17 million in 2012. Consolidated revenues climbed by more than a quarter to P1.75 billion from P1.39 billion. The bulk of revenues came from real estate sales, realized profits on year’s sales, hotel operations, rental and finance, and other income. “Real estate sales came from the sale of residential subdivision lots and townhouses amounting to P906 million,” GERI said. GERI said it recorded higher sales from the sale of lots in Newcoast Shophouse District, Boutique Hotel and The Village in Boracay; Sta. Barbara Heights in Iloilo City; Twin Lakes Domaine Le Jardin in Laurel, Batangas; and Cathedral Heights in Quezon City. The company added that said robust real estate sales figures were driven by aggressive marketing program and take-up of new projects. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Meanwhile, total cost and expenses rose to P1.31 billion from P1.07 billion due to higher cost of real estate sales, services, hotel operations and operating expenses. GERI is the company behind several tourism estates such as the 150-hectare Boracay Newcoast in Boracay Island; the 1,149-hectare rolling terrains of Twin Lakes in Tagaytay; and the 170-hectare Sta. Barbara Heights in Iloilo City. It is part of Tan’s Alliance Global Group Inc., which is Read More …

SSS website unavailable from Maundy Thursday to Easter Sunday

 News
Apr 162014
 
SSS website unavailable from Maundy Thursday to Easter Sunday

Citing a scheduled maintenance of its facilities, the Social Security System on Tuesday said it may be inaccessible to netizens from Maundy Thursday to Easter Sunday. Visitors to the SSS website were greeted with a popup notice indicating the site will not be available from 4 a.m. Thursday to 10 p.m. Sunday. “This is due to the shutdown of our Main Data Center for the scheduled maintenance of the electrical power subsystem of the SSS Main Office,” it said. Presently, the SSS site allows members to log in and check the status of their memberships. Several government agencies, including the Light and Metro Rail Transit systems, are expected to use the Holy Week to conduct maintenance of their facilities. — Joel Locsin/VC, GMA News

Netizens welcome Japan’s visa-free travel plan

 News
Apr 162014
 
Netizens welcome Japan’s visa-free travel plan

By Bong LozadaINQUIRER.net 8:21 pm | Wednesday, April 16th, 2014 MANILA, Philippines—Even without an official announcement, and decision, for a visa-free travel for Filipinos to Japan, Netizens are all hyped up for the possibility. On Tuesday, talks were underway to lift the visa requirement of Filipinos, Indonesians and Vietnamese travelling to Japan. It was a unanimous message on Twitter that Filipinos are elated for the possibility. One Jean Austin Rogers is “looking forward” for the new opportunity. Another user, who goes by the handle Primeputri, said that the visa-free travel is “dream come true.” Jelito de Leon may not be pretty elated with the news but he is one of those “glass is half-full” people. “I have my fingers crossed for the visa-free Japan trips for Filipinos!” he said on his Twitter account. A Twitter user who goes by the handle Dude Interrupted have a more direct emotion toward the news. “Eat this HK!” he posted after Hong Kong required Philippine visas for Filipinos travelling to the country. RELATED STORIES Visa-free travel to Japan could boost tourism Japan mulls no visa rule for Filipinos Japan now issuing multiple-entry visas to Filipinos Follow Us Other Stories: Visa-free travel to Japan could boost tourism Japan backs PH in case before UN Japan mulls no visa rule for Filipinos South Korea, Japan to hold talks on comfort women Recent Stories: Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to Read More …

PNoy to spend Holy Week in ‘resorts’

 News
Apr 162014
 
PNoy to spend Holy Week in ‘resorts’

President Benigno Aquino III will spend the Holy Week holidays in “resorts.” “Iyong dating gawi, either sa Times Mountain Resort sa Quezon City o kaya naman sa Pangarap River Resort, doon tayo maglalagi,” Aquino told reporters Wednesday when asked on where he would spend the Holy Week. The “resorts,” however, are only references to his family’s home on Times Street in Quezon City and his official residence Bahay Pangarap. On a serious note, Aquino, a bachelor, said he will be with his sisters for Visita Iglesia on Maundy Thursday and for Mass on Easter Sunday. Aquino, meanwhile, reminded Filipinos to do good even after the Holy Week is over. “Huwag po sana nating kalimutan: ang pagpapakumbaba, pagmamalakasakit, at paggawa ng matuwid ay hindi lamang para sa mahal na araw. Ang ginagawa nating pagninilay at panalangin ay paghahanda lamang para sa isang buong buhay ng pagsunod sa halimbawa ni Kristo,” he said in his Lenten message. He also reiterated the Palace’s earlier call for Filipinos to make sacrifices just as Jesus Christ did. “Tiyak naman pong lahat ng ating pinaghirapan ay may positibong ambag para sa ikabubuti  ng mas nakakarami. At di po ba, napakaliit lamang ng hinihingi sa atin kumpara sa ibinigay ni Hesukristo?” The President said. “Magsilbi po sanang inspirasyon sa atin ang ipinamalas na pagmamahal ni Hesukristo. Ito ang gabay natin ngayon bilang mga Kristiyano sa pagharap sa sarili nating mga sangandaan at sa pagsisilbing tanglaw sa mga Kristiyano ng kinabukasan,” he added. — KBK, GMA News

SC junks Syjuco plea vs. President authority over Deputy Ombudsman

 News
Apr 162014
 
SC junks Syjuco plea vs. President authority over Deputy Ombudsman

The Supreme Court has dismissed a petition filed by former Iloilo Rep. Augusto Syjuco Jr. seeking to strip off the President with authority to discipline the Deputy Ombudsman and the Special Prosecutor. In a five-page notice of resolution, the SC said Syjuco failed to prove that he would suffer great injustice and injury with the supposed “interference” of the executive department with the Office of the Ombudsman. “His allegation… is unsubstantiated and is without any leg to stand on,” the high court said. “We rule that petitioner failed to demonstrate adequate interest in the outcome of the controversy as to vest him with the requisite locus standi.” In his petition, Syjuco argued that he has “locus standi” or legal standing on the matter because he stands to be affected by the “continued interference” of the Office of the President with the Office of the Ombudsman, before which he has pending cases. The SC had already struck down as unconstitutional Section 8 (2) of Republic Act 6770 or the Ombudsman Act of  1989, which gave the President the authority to discipline both the Deputy Ombudsman and the Special Prosecutor. The high court ultimately ruled that the President can only discipline only the special prosecutor, and not the deputy ombudsman. According to the court, locus standi has been defined as a personal and substantial interest in a case such that the party has sustained or will sustain direct injury as a result of the governmental act that is being challenged. The high Read More …

CPA board exams postponed indefinitely, says PRC

 News
Apr 162014
 
CPA board exams postponed indefinitely, says PRC

The licensure exams for certified public accountants (CPA) scheduled next month have been postponed indefinitely, the Professional Regulation Commission (PRC) announced Wednesday. In a resolution, PRC officials led by chairperson Teresita Manzala ordered the deferral and rescheduling of the CPA board exams due to vacancies in the Board of Accountancy, which administers the tests. The board only currently has two sitting members out of the six mandated by law. President Benigno Aquino III appoints members of the board. “The board is short of the requirement for a quorum to validly transact official business, including the formulation and extraction of test items or questions, administration of the examination proper and releasing of results,” the PRC said in its resolution. The PRC did not set a new date for the CPA board exams, which were supposed to take place on May 11, 12, 18 and 19. — Andreo Calonzo/BM, GMA News

PNoy apologizes for NAIA air conditioning problem, blames govt procurement system

 News
Apr 162014
 
PNoy apologizes for NAIA air conditioning problem, blames govt procurement system

The heat is on at the NAIA. Sweltering heat and a non-functioning air-conditioning system plague departing passengers at the NAIA Terminal 1 on Tuesday, April 15, causing at least one case of fainting. Ariel Fernandez President Benigno Aquino III on Wednesday apologized for the air conditioning problem at the Ninoy Aquino International Airport Terminal 1, blaming the matter on the government’s procurement system. “Humihingi tayo ng paumanhin at pasensiya pero talagang sa higpit ng mga patakaran sa gobyerno… hindi ka naman puwedeng umorder ngayon at deliver within 30 days,” Aquino said during an interview with reporters at the North Port Passenger Terminal Complex in Manila. He explained that the contract to supply new air conditioners for the 30-year-old Terminal 1 was awarded in November last year but the air conditioners will only be delivered in August this year. “Ngayon pinapatanong ko bakit ganoon katagal? Alam ninyo sa gobyerno, pag meron kang gustong bilin, normally apat na buwan mula sa inorder mo hanggang mai-deliver pero inaabot ng siyam na buwan,” he said. “Custom-made ba itong mga aircon na ito, hindi off-the-shelf? Hinihintay ko iyong feedback noong umabot nga sa atin iyong problema doon sa T1,” he added. — RSJ, GMA News

 Older Entries  Newer Entries