Star Cebu – Maniolas

Firm offers rent-to-own program to speed up sales in Bayswater

Economy

Feb 142014

BEFORE they start work on their development in Talisay City, the developers of Bayswater Subdivision would rather complete their project in Lapu-Lapu City. To hasten the sale of remaining units, they hope their rent-to-own scheme will do the trick.

Lyn Cutanda-Veits, marketing manager of Bayswater, which is being developed by MSY Holdings, said there are about 110 of the 800 units in the 10.5-hectare subdivision that are available for the rent-to-own scheme.

Although the monthly payments for the scheme are about the same with the monthly amortization for units acquired through bank loans, Veits said ready-to-own units will be made available faster.

She explained that if done through bank financing, units are constructed once the equity payments are completed. Under the rent-to-own scheme, they ask for 30 days to prepare the unit and the homeowner can move in.

Waiving requirements

Veits said they want to complete the sale of Bayswater Mactan within the year so that their next project in Talisay can begin, which is why they are pushing for the rent-to-own scheme as an alternative to attract buyers who want to move in earlier.

She added that they are waiving the bank pre-approval requirements to hasten the process as long as reservation fees have been paid, the buyers pass the capacity-to-pay requirements and have given two months’ deposit and postdated checks for the monthly rental.

Bayswater Mactan was started in 2007. They have turned over 50 percent of the units while 45 percent have been occupied. Veits said the rest are undergoing improvements by their homeowners.

Veits believes their development is “the best in Lapu-Lapu City” because many foreigners, who she said are more picky, have chosen to settle in Bayswater. She said about 30 percent of their clients are foreigners, who can avail themselves of their long-term lease agreement, which lasts 25 years and is renewable for another 25.

Veits also said the company is offering investors property management services via the MSY Leasing Property Management to make it easier for them to maintain their properties between leases.

Bayswater offers nine house models ranging from P2 million to P7 million. Apart from regular amenities expected of gated subdivisions, Veits said residents enjoy the conveniences of a mini-mall inside the premises with 10 areas for retail that will complement their needs. Currently, there is a convenience store and fitness gym. They are expecting a spa, restaurant and café to operate soon.

Veits said that homeowners are prioritized as concessionaires but they will not allow other businesses to be in direct competition with the others.

Published in the Sun.Star Cebu newspaper on February 16, 2014.

Rockwell invests P2B in Cebu

Economy

Feb 062014

PROPERTY developer Rockwell Land has finally entered Cebu with their 32 Sanson residential project as its introductory development outside Metro Manila. The P2-billion project will sit on a 3.2-hectare property in Lahug, where a furniture factory owned by the Aboitiz family used to operate. Rockwell bought the land in 2012, said 32 Sanson general manager Paolo Ernesto V. Reyes. Rockwell president and chief executive officer Nestor J. Padilla told Sun.Star Cebu in a separate interview that the company has chosen to build in Lahug because of its proximity to vital business districts and prominent schools, “while at the same time remaining tranquil and private.” The 32 Sanson project will introduce Rockwell’s low-rise development, which Reyes said has been matched to its surroundings, encircled with greenery. Reyes said there will be five structures of five floors each; all are set to be completed in 2016. Natural “Rockwell’s expansion outside of Manila was a natural step following our expansion throughout Metro Manila. After the positive reception Rockwell received in Ortigas, Quezon City, and San Juan, we were truly eager to venture out regionally,” said Padilla. Rockwell has already completed eight residential projects since it started in the 1990s. Currently, it has six ongoing residential developments. The developer has also ventured into commercial developments, with two already completed and one ongoing project, still concentrated in Metro Manila. “The vibrant city of Cebu has always been attractive to Rockwell. Its booming economy, relaxed lifestyle and lively personality was something Rockwell sought to participate in,” Read More …

Serna: ‘Little Bossing’ big money-maker

Entertainment

Jan 092014

LAST Saturday, the 12 candidates for Miss Cebu 2014 gathered at the inner roof deck of Harolds Hotel to sign the sponsorship contract to the prestigious beauty pageant sposored by GT Cosmetics Manufacturing. The company’s founder and chief operating officer, engineer Leonora Salvane, said that their “products are proudly Cebuano.” She turned over a check worth P100,000 to Miss Cebu 2014 chairperson Jaja Chiongbian-Rama. A Ms. GT Cosmetics will also be chosen and will receive a one-year supply of its products. Miss Cebu 2014 will be crowned on Jan. 15. *** While Cebu is now on its toes in preparation for the Pista Senyor and the Sinulog grand parade, other Cebuanos who are based in Dubai are also busy preparing for the second edition of the Sinulog sa United Arab Emirates. I met one of the activity’s moving forces, Teresa Binghay, who told me about the event which they expect to be much bigger than last year’s. She narrated that the event moved to tears Cebuanos who have been based there for years but have been unable to visit Cebu for one reason or another. Teresa is optimistic that companies, which their group approached for sponsorship, will be generous enough to support their endeavor. More of this next time. *** The Kim Chiu-Xian Lim tandem proved its box-office strength in the movie Bakit Di Ka Crush ng Crush Mo, one of Star Cinema’s money-makers last year. The tandem is coming back in Bride For Rent, which is predicted to outdo Read More …

Bohol tourism stakeholders pick up pieces, continue holding tours

Economy

Oct 172013

Bohol tourism stakeholders pick up pieces, continue holding tours

TOURISM stakeholders in Bohol will continue to offer day tours to local and foreign tourists through alternate routes, said a top official from the Department of Tourism (DOT). “It’s business as usual for Bohol although not all roads are passable,” said DOT-Central Visayas regional director Rowena Montecillo in a phone interview Wednesday. “For tourism we are looking into alternate routes in going to the tourism sites.” Bohol is the second most visited destination in Central Visayas after Cebu. Montecillo, who is in Bohol, said that with the cooperation of the private tourism sector, they identified alternate routes in Bohol, particularly for day tour activities. New route She said they also found a new route and a new area where local and foreign tourists can still experience the breathtaking view of the famous Chocolate Hills. “We found a route whose roads are in good condition and passable, though its 20 kilometers farther than the usual route. We also discovered a new tourism site, an adventure park which is supposedly due for launching but given the recent calamity, they will open the site for tourists. It has a mini park and a viewing deck, with 248 steps, for Chocolate Hills,” said Montecillo. Tourists, though, would miss the viewing of century-old churches and the lunch cruise at the Loboc River Floating Restaurant as roads going there are not yet passable and the Loboc River is not yet operational, she said. According to Montecillo, the day tour activity will start in Tagbilaran City going Read More …

RC Cola bottler expands Cebu operations

Economy

Oct 082013

ASIAWIDE Refreshments Corp. (ARC), the licensed Philippine bottler of RC Cola, has expanded its operations in Cebu, a move that is expected to better serve RC Cola’s growing consumer base in the province. “The company’s engagement in the province will enable us to align the Visayas market with the growth of Asiawide and RC Cola in other areas,” said Gerry T. Garcia, executive vice president and chief operating officer of ARC. As one of the key cities in the Philippines, Cebu is a major cola market and a gateway to the Visayas region. “It is an independent market from Manila but it has always mirrored Manila in terms of being urbanized and having a developed consumer market,” he said. Although the province represents a new frontier for ARC, Cebu is not a new consumer base for RC Cola. Garcia said that in the 1990s when RC Cola sales were still struggling in Metro Manila, the brand was already a success story in the Cebu-Visayas region. “The point is we have yet to fully exploit the potential of RC Cola. That’s why we are excited about this development,” said Garcia. He said Cebu will be treated as an investment market and ARC in Luzon can re-channel part of its manpower and equipment there as needed. He said there is an opportunity to enhance RC Cola’s product line-up in Cebu to cater to different price points and tastes, as the company works to optimize the brand’s availability in the market thereby becoming Read More …

Remittances rise 6.2% to US$11.8B

Economy

Aug 162013

PERSONAL remittances from overseas Filipinos for January-June 2013 amounted to US$11.8 billion, representing a 6.2 percent increase from the level registered in the same period last year. The Bangko Sentral in Pilipinas (BSP) announced that 75.1 percent of the remittances came from land-based workers with work contracts of one year or longer. These remittances increased by 5.1 percent, despite continuing gloom in some major economies abroad. Remittance flows from sea-based workers and land-based workers with short-term contracts grew by 7.5 percent. For June 2013 alone, personal remittances increased year-on-year by 5.7 percent to reach US$2.1 billion, the highest monthly level recorded during the year. Cash remittances coursed through banks for the first six months of 2013 reached US$10.7 billion, sustaining the 5.6 percent growth in the same period last year. In particular, remittances from both sea-based (US$2.5 billion) and land-based workers ($8.2 billion) expanded by 7.4 percent and 5.1 percent, respectively, the BSP also said. Major sources of cash remittances were the United States, Saudi Arabia, the United Kingdom, the United Arab Emirates, Singapore, Canada, and Japan. Total flows from these countries represented about three-fourths (74.8 percent) of the total cash remittances coursed through banks. Remittances remained robust partly on the back of continued increase in demand for skilled Filipinos. The Philippine Overseas Employment Administration (POEA) reported the number of workers deployed overseas in 2012 increased by 6.8 percent to 1,802,031, from 1,687,831 in 2011. “The steady stream of remittances also drew continued support from the efficient network of bank Read More …

Almirante: Unfair labor practice

Economy

Jul 122013

PETITIONER Bankard, Inc. has resorted to job contractualization or outsourcing or contracting out of jobs. Among other programs, it also implemented a Manpower Rationalization Program (MRP), which was an invitation to the employees to tender their voluntary resignation with entitlement to separation pay equivalent to at least two months’ salary for every year of service. Majority of its Phone Center and Service Fulfillment Division employees availed themselves of the MRP. Respondent Bankard Employees Union-AWATU (Union) contended that Bankard committed unfair labor practice (ULP). Is there merit to this contention? Ruling: No. The general principle is that the one who makes an allegation has the burden of proving it. While there are exceptions to this general rule, in ULP cases, the alleging party has the burden of proving the ULP; and in order to show that the employer committed ULP under the Labor Code, substantial evidence is required to support the claim. Such principle finds justification in the fact that ULP is punishable with both civil and/or criminal sanctions. Aside from the bare allegations of the union, nothing in the records strongly proves that Bankard intended its program, the MRP, as a tool to drastically and deliberately reduce union membership. Contrary to the findings and conclusions of both the National Labor Relations Commission (NLRC) and the Court of Appeals (CA), there was no proof that the program was meant to encourage the employees to disassociate themselves from the union or to restrain them from joining any union or organization. There was Read More …