by admin | Feb 21, 2017 | Globe Updates, Internet Service Provider
Cebu Landmasters Inc. (CLI), the leading homegrown developer in Metro Cebu, intends to raise up to P3.8 billion from an initial public offering scheduled for May to fund land acquisition and development costs for its expansion plans to five key cities in Visayas and Mindanao. Part of the proceeds will also be used for debt repayment and working capital requirements.
In a prospectus submitted to the Securities and Exchange Commission today, Cebu Landmasters is listing and selling firm shares of 505 million common shares with an over allotment option of 75 million shares on the local bourse targeting mid-to late-May 2017. This represents up to 34% of the company’s outstanding common shares, post-IPO.
Of the firm shares, 430 million are new shares forming the primary tranche, while 75 million are existing shares forming the secondary tranche. The 75 million shares from the greenshoe will be from existing shareholders. The IPO will be priced at up to P6.56 per share.
BDO Capital will serve as the sole issue manager for CLI’s stock market debut. Joint lead underwriters and joint bookrunners are BDO Capital and BPI Capital.
CLI is the first Cebu-based real estate developer to apply for an IPO and the leading local real estate developer in the Metro Cebu residential condominium arena. It accounts for 11 per cent market share of the total supply of residential condominium units in Metro Cebu, second only to Ayala Land, according to a market study by CBRE Philippines (now Santos Knight Frank).
In just 13 years, Cebu Landmasters has diversified from the residential segment into commercial, hospitality, industrial and mixed-use product offerings further distinguishing it from other VisMin real estate players. CLI president and CEO Jose Soberano III observed: “We will use our flexibility to create new developments in the cities of Davao, Cagayan de Oro, Dumaguete, Bacolod, Iloilo and new Cebu locations. These projects will maximize the demand and supply indicators in each location with the best uses for each site.”
In highly urbanized areas exhibiting strong sustained growth like the booming Cebu I.T. Park, for instance, it will offer a high-end New York inspired residential development masterplanned by global designers to be part of a mixed-use hub with a retail plaza, park and a future office component. In rapidly urbanizing cities like Davao and Cagayan de Oro, it will offer mid-market residential condominiums that meet the needs, aspirations and price points of BPO and other employees as well as those of OFWs. In fact, the first phase of its Cagayan de Oro project sold out in less than a year.
Meanwhile, in the so-called Next Wave Cities like Dumaguete, Iloilo and Bacolod where BPO firms are locating and fueling the economy together with OFW remittances, it will offer its economic housing brand known for its generous amenities and ideal location.
In 2016, Cebu Landmasters generated revenues of P2.17 billion and net profits of P702 million. Its recent projects include residential condominiums Mivesa Garden Residences and Midori Residences identified by CBRE as the top-selling projects in Metro Cebu. It also sold office projects and partnered with The Ascott Limited to develop Citadines Cebu City to open by 2019 with 180 serviced apartments.
CLI has also built its track record on projects that offer exceptional values to clients. Soberano explained that its being a homegrown company allows it to tap the best suppliers and best deals in VisMin locations and to pass on the savings to customers. “Being value-focused Visayans ourselves, we have a good idea of the kind of spaces clients appreciate and how much they will willingly pay for them.” CLI is set to continue its hands-on approach and maximize its knowledge of the local market to achieve high client satisfaction scores across VisMin, he emphasized.
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by admin | Feb 20, 2017 | Headlines, National News
Now in the top-third of the ranking
Philippines leaps 12 ranks to No. 58 in Economic Freedom Index 2017
The National Competitiveness Council is pleased to announce that the country has advanced twelve notches to rank no. 58 out of 180 countries in the latest release of the Economic Freedom Index 2017, making it to the top-third of the ranking. This is the sixth consecutive time the country has upgraded its ranking since 2011.
Published annually by US-based think-tank Heritage Foundation and The Wall Street Journal, the Index measures “a nation’s commitment to free enterprise” and scores economies in twelve categories, covering a broad range of factors including court system efficiency, tax rates, investment restrictions, and licensing requirements. Based on the average of these scores, economies are then classified as “free” (score of 80 or higher), “mostly free” (70-79.9), “moderately free” (60-69.9), “mostly unfree” (50-59.9), or “repressed” (below 50).
From the previous score of 63.1, the Philippines increased 2.5 points to 65.6, maintaining its status as a “moderately free” country for four years. This makes the Philippines fourth in the ASEAN region, trailing behind Singapore (2nd), Malaysia (27th), and Thailand (55th), and ahead of Indonesia (84th), Cambodia (94th), Laos (133rd), Myanmar (146th), and Vietnam (147th).
In the latest EFI, the Philippines significantly progressed in the area of Monetary Freedom, advancing 18 notches (from 86th to 68th) and also improved in the areas of Labor Freedom (up 6, from 109th to 103rd), and Government Integrity, formerly Freedom from Corruption (up 1, from 87th to 86th).However, it stagnated in the aspects of Trade Freedom (down 9, from 94th to 103rd), Business Freedom (down 8, from 99th to 107th), Property Rights (down 7, from 92nd to 99th), Investment Freedom (down 6, from 83rd to 89th), Government Spending (down 2, from 20th to 22nd), and Tax Burden and Financial Freedom (down 1, from 92nd to 93rd and 38th to 39th , respectively).
The index also noted the country’s gradual improvement of the business regulatory environment that includes reduction of time and cost involved in acquiring licenses.
Meanwhile, the new indicators (Fiscal Health and Judicial Effectiveness) placed the country in 26th and 110th rank, respectively.
The Heritage Foundation and Wall Street Journal lauded the Philippines’ notable economic growth amid challenging global economic environment, driven by strong export performance and inflows of remittances that have bolstered private consumption, though it pointed to the absence of entrepreneurial dynamism as a challenge to long-term economic growth.
by admin | Feb 19, 2017 | Headlines, Local News / Bohol Balita, Tourism
By JUNE S. BLANCO
RESIDENTS of Buenavista and nearby towns better learn welding now.
This after Rep. Erico Aristotle Aumentado (Bohol, 2nd District) met with the top henchman of a company that plans to establish a shipyard in Buenavista town.
The company executive, Aumentado and Buenvavista Mayor Ronald Lowell “Sample” Tirol discussed possibilities and scouted around the district for the ideal location until the former settled for Buenavista.
Aumentado took the former’s decision as a good omen where employment opportunities for his constituents are concerned.
The shipyard, he said, is expected to attract other investors to the town.
This means job opportunities that will bring in money to increase the buying power or consumer spending of residents and visitors alike.
On top of skilled welders, the shipyard will also need workers for parallel industries and businesses like food prepararion for the workers.
Thus, he said, money circulation in the town, the district and the province will expectedly increase.
He vowed to continue looking for similar opportunities for his constituents so that their respective breadwinners need not go to bigger cities or even abroad for the proverbial greener pastures.
It is best, he observed, that families stay together.
by admin | Feb 18, 2017 | Tech Talk
This year the major Information and Communications Technology conference for the Visayas will be hosted in Bohol on March 2. This is brought to us by the Provincial Government of Bohol through the Bohol Investment Promotion Center (BIPC), City of Tagbilaran, DICT, NICP, and VICTOR.
The VICTOR (Visayas ICT Cluster Organisation) Conference brings together the leaders of industry, government the regional tech councils. This is something that should not be missed especially by the leaders and faculty of the educational institutions of Bohol, and local industry leaders.
Under normal circumstances attendees would be primarily from the Visayas, yet this year there are many coming from across the country, perhaps attracted by the natural beauty of our province.
The objective is for decision makers to share best practices and better prepare for the opportunities in the new tech-enabled economy. Attendees will get the latest about the exciting tech developments happening across the country.
A major aim is to bring benefits to Bohol, hence the conference will showcase the opportunities for industry to bring high value jobs here. Visiting experts will mentor to fill gaps such as talent availablity and development.
The following day, the CreaCon will be held, a conference for creatives. The exciting yet demanding digital creative fields of writing, art, animation, graphic design, entertainment and games will be presented and discussed by national experts. Whereas the prior VICTOR day will cater for the established leaders, this day will assist the up and coming players.
Leaders in Education: please register for March 2 VICTOR
Creative Professionals: please register for March 3 CreaCon
Contact Bohol Investment Promotion Center for tickets on 501-8063.
by admin | Feb 18, 2017 | Headlines, Local News / Bohol Balita, Sports
TAGBILARAN CITY, February 18 (PIA)—Bohol lost steam and sizzled as it slid to fourth among 13 sports delegations towards the closing days of the Central Visayas Regional Athletic Association (CVRAA) meet held February 12-17, 2017 at the Teodoro Mendiola Sr Oval in Naga City.
On the second day of competitions, Bohol took a commanding second place, its athletes achievements even earning precious newspaper spaces all over Central Visayas but could not hold on to its edge.
Medal powerhouse Cebu City kept its 2016 lead and cemented a 25th straight winning streak for the CVRAA crown with 144 gold medals, 64 silvers and 77 bronze medals.
Observers always pick Cebu City as favorite, being the host of most schools with well-defined sports programs.
Cebu Province, which finished fourth overall in 2016 improved its position by skipping over two positions to trample then third placer Bohol and second placer Mandaue City to claim a spot as the region’s next delegation with the most medals.
Cebu Province nailed 37 gold medals, 41 silvers and 47 bronze medals to sidle in between Cebu City and next bigger contender Mandaue City.
On day three of the sports competitions, Bohol could not keep up with the gold harvest and settled for third, a position it continues to lose grip to Mandaue City, which had also a terrible showing in 2017.
Mandaue City finished off the sports hostilities emerging with 29 gold medals, 49 silver medals and 47 bronze medals to earn the third spot in the region’s pre qualifier to the Palarong Pambansa.
Bohol, which ranked third last year could only muster 25 gold medals, 38 silvers and 75 bronze medals to claim the fourth place.
Lapulapu City maintained its fifth place finish in 2016, with 23 gold medals35 silvers and 35 bronze medals.
Like Cebu Province, Tagbilaran City pulled out a stunning show and performed two notches better earning sixth place after five days of events.
Tagbilaran City bagged home 21 gold medals, 20 silver medals and 25 bronze medals in 2017, as against its 8th place finish in 2016 with only 8 gold medals, 20 silvers and 20 bronze medals then.
Tagbilaran City in 2017 overtook Danao City which has clung to the 7th place position it claimed in 2016.
Danao City could only make 17 gold medal finishes, 30 silver medals and 25 bronze medals this year.
From 9th rank in 2016, host City of Naga improved its standing to eight when its athletes finished off the games with 7 gold medals, 9 silver medals and 19 bronzes.
Then ranked 6th in 2016, Talisay City slumped to ninth position in 2017 earning 6 gold medals, 13 silver medals and 14 bronze finishes at the capping day of the tournaments.
The City of Bogo showed promise this year as from being last in 2016, the delegation improved its position massively; jumping over three notches to claim the 10th berth of the CVRAA 2017.
The City of Bogo posted 6 gold, 4 silver and 10 bronze slate after the 2017 hostilities.
Toledo City, which was occupying the 12th spot in 2016 jumped up to 11th and beat next contender Siquijor Province by one gold medal more.
Toledo City capped the days with 3 top finishes, 5 silver finishes and 4 bronze finishes.
On the other hand, Siquijor, which used to claim the 10th space in 2016 also slid off to 12th with only 2 golds, 4 silvers and a single bronze.
Carcar City, which used to have the 11th place in 2016 could only muster a silver and 4 bronze medals to settle at the tail end of the CVRAA 2017 roster.
The results are based on the final official medal tally on regular sports certified by Records and Results Chief Alberto L. Mangaron, Co-chief Mario Garcia and recorder Jonas Ledesma. (rac/PIA-7/Bohol)
Bohol secondary basketball team proved it can be a group to contend with after emerging with the silver finish in the recently completed CVRAA 2017. (photo grabbed from DepED Lope Hubac’s facebook)
