GOOD environment results in good business. This working principle runs a quaint piece of paradise on the island of Cebu—Alegre Beach Resort. A penchant for nurturing nature runs in their blood, from the owners to managers to staff members, and every operation has that innate character of caring for the environment.
Fronting the resort premises is the Alegre House Reef, a 200-meter-by- 800-meter sea marine sanctuary. A continuing program running nearly 10 years, the Alegre House Reef protects and preserves the reef’s ecosystem. Collecting coral polyp predators, suctioning silt from reef flats, placing fish shelters, planting sea grass, reseeding giant clams, culturing mussel, monitoring of marine life cover a typical day for Alegre resident biologist Gerie Sola.
The results are astounding—incredibly wonderful swimming and diving spots, rich and colorful marine life. Teeming there are rare large mullet fish, elusive seahorses, green sea turtles, barracuda and many more. Resort guests feed the fish by the hand, either underwater or by the beach.
More than 5,000 trees and seedlings and about 10,000 flowering plants, palms, grasses and shrubs are in the resort fertilized and grown under the Alegre’s Tree Planting and Greening Program. The trees attract more birds and native animals, like huge monitor lizards, which have made the resort their home.
A wastewater-treatment facility prevents direct wastewater run-offs. Water is collected, treated and recycled, then used to irrigate the resort. The dried sludge from the wastewater-treatment facility is mixed with garden soil, which is then reused as organic fertilizers.
Rainwater is collected in tanks and is used for laundry and washing and bathing in the staff quarters, cafeteria and locker rooms. Hot water for the kitchen is heated on the brick oven to conserve energy.
Staff and guests are regularly advised to keep doors and windows of air-conditioned rooms and offices closed, as emissions from them contribute to global warming. Signages are also put in guest rooms, advising guests to maximize use of linens as residues from detergents used in laundry is also detrimental to the environment.
But Alegre management does not stop there and takes the initiative to educate its neighboring communities.
Alegre has partnered with officials in local government units, experts from Silliman University and the University of San Carlos, officers from the Philippine Coast Guard, and many more advocacy groups and institutions to conduct advocacy campaigns for waste segregation and recycling and regular coastal and underwater cleanup drives.
To date, the local government units of Sogod (where Alegre is situated), Borbon, Tabogon, Bogo and San Remigio have successfully established and maintained their marine-protected areas. Alegre trained their fish wardens and provided technical and diving instructions and reef check/monitoring. Nine marine sanctuaries have been established in the area.
Alegre envisions a network of sanctuaries in the northeastern coast of Cebu—independent but complimenting and supporting each other—with it as the nucleus—to serve as a springboard where the marine ecosystem could rebound and recover from the excesses of the past. It always pays to nurture nature.
Sunday, September 27, 2009
Bicam okays consolidated REIT bill
Written by Butch Fernandez Reporter
Wednesday, 23 September 2009 19:25
THE Real Estate Investment Trust (REIT), described as a sustainable economic driver in countries where it has long been used as an investment and financing tool, inched closer to realization in the Philippines, with a congressional conference committee consolidating the Senate and House versions of the REIT bill. The members agreed to impose the standard 30-percent tax on corporate income only on 10 percent of the earnings of a REIT.
Under the bill, REITs are listed stock corporations that will provide small and large investors with options to participate directly in the ownership, financing and management of large-scale real-estate projects at affordable rates of investment.
Sen. Edgardo Angara, the bill’s principal author, confirmed that the provision limiting the 30-percent corporate income tax on only 10 percent of REIT’s earnings is provided in the final version adopted by the bicameral panel, as part of the incentives in the bill.
“It required a REIT company to distribute annually at least 90 percent of its distributable income as dividends to its shareholders, and so, the remaining 10 percent will be the tax base,” Angara explained.
He added that the consolidated bill on stock corporations that will pool investors’ funds and investments in these in real-estate ventures is expected to be ratified by both chambers on Monday.
During the bicameral panel meeting on Tuesday, Department of Finance (DOF) officials argued for limiting the tax perks in the bill, voicing serious concerns over their negative impact on the tax base amid government efforts to raise revenues to cover the ballooning deficit.
But while lawmakers agreed to withdraw the proposed preferential income-tax rate of 25 percent for REITs in the first three years, they insisted on a compromise to instead impose the existing 30-percent corporate income tax on 10 percent of REITs income.
At the same time, the consolidated version provides for a creditable withholding tax on income payments to a REIT of 1 percent; plus half of the applicable documentary stamp tax to the sale or transfer of real properties to REITs.
Heeding the DOF’s plea, the lawmakers also agreed that the REITs will not be exempted from paying the value-added tax for the sale, exchange, or transfer of securities that are part of a REIT’s real estate-related assets.
Wednesday, 23 September 2009 19:25
THE Real Estate Investment Trust (REIT), described as a sustainable economic driver in countries where it has long been used as an investment and financing tool, inched closer to realization in the Philippines, with a congressional conference committee consolidating the Senate and House versions of the REIT bill. The members agreed to impose the standard 30-percent tax on corporate income only on 10 percent of the earnings of a REIT.
Under the bill, REITs are listed stock corporations that will provide small and large investors with options to participate directly in the ownership, financing and management of large-scale real-estate projects at affordable rates of investment.
Sen. Edgardo Angara, the bill’s principal author, confirmed that the provision limiting the 30-percent corporate income tax on only 10 percent of REIT’s earnings is provided in the final version adopted by the bicameral panel, as part of the incentives in the bill.
“It required a REIT company to distribute annually at least 90 percent of its distributable income as dividends to its shareholders, and so, the remaining 10 percent will be the tax base,” Angara explained.
He added that the consolidated bill on stock corporations that will pool investors’ funds and investments in these in real-estate ventures is expected to be ratified by both chambers on Monday.
During the bicameral panel meeting on Tuesday, Department of Finance (DOF) officials argued for limiting the tax perks in the bill, voicing serious concerns over their negative impact on the tax base amid government efforts to raise revenues to cover the ballooning deficit.
But while lawmakers agreed to withdraw the proposed preferential income-tax rate of 25 percent for REITs in the first three years, they insisted on a compromise to instead impose the existing 30-percent corporate income tax on 10 percent of REITs income.
At the same time, the consolidated version provides for a creditable withholding tax on income payments to a REIT of 1 percent; plus half of the applicable documentary stamp tax to the sale or transfer of real properties to REITs.
Heeding the DOF’s plea, the lawmakers also agreed that the REITs will not be exempted from paying the value-added tax for the sale, exchange, or transfer of securities that are part of a REIT’s real estate-related assets.
Friday, September 25, 2009
Osmeña: Potential of Balili lots
Antonio V. OsmeñaEstatements
THE 240,000 square meters of land and foreshore area purchased by Cebu Province from the Balili family has a tremendous potential in terms of non-residential land uses.
The purchase price of P94 million can easily be justified if and when the Province decides to introduce the necessary development as “self-contained” projects in relation to factors that govern non-residential uses.
On the Balili issue, Gov. Gwendolyn Garcia should consider that whenever land is to be allocated to competing uses, care must be taken not to violate the economic law of ‘highest and best land use.” Since the “highest and best use” is always determined by the present worth of future rights to income or amenities, consideration must be given to the existence of demand for the uses and purposes to which certain sites are dedicated in the overall subdivision plan.
Since business properties are known to bring a much higher price per unit of land, it is a common error to over-provide the amount of space required for commercial use. Simply designing an area as business property does not make it one. There must be demand for business property and that demand is generally in direct proportion to the number of people, or better, of families residing in the area.
In the case of the Balili property where titles were improperly issued on the foreshore area (fishpond and mangrove), Governor Garcia should undertake the proper reclamation procedure by applying for a legitimate title with the Philippine Reclamation Authority.
I hope the governor will practice developing instead of subdividing. Whenever land improvements are carried out in accordance with subdivision plans, and expenditures are made to provide essential site facilities, the field actions are appropriately classified as land developing. Whereas, literally interpreted, subdividing merely means the “breaking-up” of one or more large tracts of land into smaller sites or plots.
Where subdividing is the owner’s intent like the South Road Properties of Cebu City, it need not incur any additional expenses other than those related to purchase, reclamation or the conduct of a survey on the land—which involves placing markers or stakes at intended boundaries and submitting a surveyor’s “plat” of the proposed subdivision.
The process of developing is ordinarily far more comprehensive in scope than that of subdividing, and requires expenditures greatly in excess of those represented by the reclamation of the “raw” land or its purchase price.
The use of coal ash interspersed with limestone to prevent air pollution in the reclamation of the 200,000 square meters of foreshore (fishpond and mangrove) of the Balili property is a financial advantage to the cost to produce the “raw” land for developing.
Governor Garcia should subdivide the 240,000 square meters into commercial lots with the improvement of water mains, sanitary sewers, street grading and paving, curbs and gutters and the miscellaneous costs of legal, sales, and overheads.
To illustrate, assume that 240,000 square meters of the Balili area is fully reclaimed and 30 percent of the land is allocated for road network and open space, then a saleable area of 168,000 square meters is available for sale at a conservative price of P10,000 per square meter or a gross sale of P1.68 billion while developing cost would be P32 million.
The marketing of subdivided land is essentially a selling campaign. Marketing begins as soon as the development is made presentable; that is, when the ground is cleared, streets and service utilities installed, signs and markers put in place, and other work have been completed to make the land attractive.
I hope Garcia will extend her goodwill and cooperation with Cebu’s licensed real estate brokers, specifically the realtors who are essential to the successful marketing of the subdivided lots.
Employing the services of a realtor is a goodwill sign of transparency in the project and also readily liquidate capital invested for further employment in other project developments.
Although the area of the Balili lots is only half the size of the 50-hectare Club Filipino golf course developed by Ayala, decisions by Garcia governing land uses may have important and far-reaching consequences.
Capitol should use the combined skills of urban planners, architects, civil engineers, real estate consultants on the Balili project.
THE 240,000 square meters of land and foreshore area purchased by Cebu Province from the Balili family has a tremendous potential in terms of non-residential land uses.
The purchase price of P94 million can easily be justified if and when the Province decides to introduce the necessary development as “self-contained” projects in relation to factors that govern non-residential uses.
On the Balili issue, Gov. Gwendolyn Garcia should consider that whenever land is to be allocated to competing uses, care must be taken not to violate the economic law of ‘highest and best land use.” Since the “highest and best use” is always determined by the present worth of future rights to income or amenities, consideration must be given to the existence of demand for the uses and purposes to which certain sites are dedicated in the overall subdivision plan.
Since business properties are known to bring a much higher price per unit of land, it is a common error to over-provide the amount of space required for commercial use. Simply designing an area as business property does not make it one. There must be demand for business property and that demand is generally in direct proportion to the number of people, or better, of families residing in the area.
In the case of the Balili property where titles were improperly issued on the foreshore area (fishpond and mangrove), Governor Garcia should undertake the proper reclamation procedure by applying for a legitimate title with the Philippine Reclamation Authority.
I hope the governor will practice developing instead of subdividing. Whenever land improvements are carried out in accordance with subdivision plans, and expenditures are made to provide essential site facilities, the field actions are appropriately classified as land developing. Whereas, literally interpreted, subdividing merely means the “breaking-up” of one or more large tracts of land into smaller sites or plots.
Where subdividing is the owner’s intent like the South Road Properties of Cebu City, it need not incur any additional expenses other than those related to purchase, reclamation or the conduct of a survey on the land—which involves placing markers or stakes at intended boundaries and submitting a surveyor’s “plat” of the proposed subdivision.
The process of developing is ordinarily far more comprehensive in scope than that of subdividing, and requires expenditures greatly in excess of those represented by the reclamation of the “raw” land or its purchase price.
The use of coal ash interspersed with limestone to prevent air pollution in the reclamation of the 200,000 square meters of foreshore (fishpond and mangrove) of the Balili property is a financial advantage to the cost to produce the “raw” land for developing.
Governor Garcia should subdivide the 240,000 square meters into commercial lots with the improvement of water mains, sanitary sewers, street grading and paving, curbs and gutters and the miscellaneous costs of legal, sales, and overheads.
To illustrate, assume that 240,000 square meters of the Balili area is fully reclaimed and 30 percent of the land is allocated for road network and open space, then a saleable area of 168,000 square meters is available for sale at a conservative price of P10,000 per square meter or a gross sale of P1.68 billion while developing cost would be P32 million.
The marketing of subdivided land is essentially a selling campaign. Marketing begins as soon as the development is made presentable; that is, when the ground is cleared, streets and service utilities installed, signs and markers put in place, and other work have been completed to make the land attractive.
I hope Garcia will extend her goodwill and cooperation with Cebu’s licensed real estate brokers, specifically the realtors who are essential to the successful marketing of the subdivided lots.
Employing the services of a realtor is a goodwill sign of transparency in the project and also readily liquidate capital invested for further employment in other project developments.
Although the area of the Balili lots is only half the size of the 50-hectare Club Filipino golf course developed by Ayala, decisions by Garcia governing land uses may have important and far-reaching consequences.
Capitol should use the combined skills of urban planners, architects, civil engineers, real estate consultants on the Balili project.
Camella keeps LPMI’s services
CAMELLA Communities, a subsidiary of Vista Land and Lifescapes Inc., retains the services of Land Net Property Management Inc. (LPMI) to manage its real estate projects particularly in Cebu.
LPMI is considered one of the fastest growing Filipino-owned professional property management group in the country that specializes in managing residential, building, commercial and special-purpose properties.
Camella Communities Cebu head Jasmin Alviola said it is important to increase the market value of real estate properties for buyers either to have the opportunity to resell or lease their properties or to simply retain a property at a prime condition.
LMPI’s services are meant to increase the market value of the property through professional management, and maximize the real estate investments of owners and tenants.
Its functions include administrative and financial management, engineering and technical support, security administration, maintenance and housekeeping, waste management and even services like property leasing or selling.
LMPI Cebu head Arne Alfajardo said Land Net’s services for Camella Communities, particularly in Cebu, involve village property management and subdivision property management.
The management firm oversees Azienda in Tali-say City, Azienda Lom-bardi, Tierra Grande and Azienda Roma.
Aside from Azienda, LMPI also manages Ca-mella Communities pro-jects like Pasadena in Guadalupe, Vittoria in Mactan and pre-operates Camella Montserrat in Mactan and Riverdale in Pit-os, Cebu City.
“A developer who engages a property management company to manage their sites or communities shows concern for its community on a long-term viewpoint,” said Fajardo.
“Eventually, a well-maintained and secured community will have a good image that will generate positive feedback. (PR)
LPMI is considered one of the fastest growing Filipino-owned professional property management group in the country that specializes in managing residential, building, commercial and special-purpose properties.
Camella Communities Cebu head Jasmin Alviola said it is important to increase the market value of real estate properties for buyers either to have the opportunity to resell or lease their properties or to simply retain a property at a prime condition.
LMPI’s services are meant to increase the market value of the property through professional management, and maximize the real estate investments of owners and tenants.
Its functions include administrative and financial management, engineering and technical support, security administration, maintenance and housekeeping, waste management and even services like property leasing or selling.
LMPI Cebu head Arne Alfajardo said Land Net’s services for Camella Communities, particularly in Cebu, involve village property management and subdivision property management.
The management firm oversees Azienda in Tali-say City, Azienda Lom-bardi, Tierra Grande and Azienda Roma.
Aside from Azienda, LMPI also manages Ca-mella Communities pro-jects like Pasadena in Guadalupe, Vittoria in Mactan and pre-operates Camella Montserrat in Mactan and Riverdale in Pit-os, Cebu City.
“A developer who engages a property management company to manage their sites or communities shows concern for its community on a long-term viewpoint,” said Fajardo.
“Eventually, a well-maintained and secured community will have a good image that will generate positive feedback. (PR)
Tourism group asks airlines, hotels to help 2010 congress
By Nancy R. Cudis
SKAL International Association of Travel and Tourism Professional world president Hulya Aslantas urged organizers of next year’s 39th Asian Skal Congress in Cebu to provide “attractive” airfare and accommodation rates to attract more participants to the event.
Cebu will host the 2010 Asian Skal Congress, an annual international gathering of top tourism and travel players from Asia and the Pacific, in May next year. This will be the second time for Cebu to host the event. The first time was in 1995.
“This will be a good opportunity for Cebu to promote (itself). About 400 are expected to attend. But more people will come, depending on the attractiveness of programs, as well as airfare and accommodation rates. When they come, this will be like an inspection trip for them,” said Aslantas.
Skal International Cebu president Charles Lim said that while the congress may cost “millions” to prepare, stakeholders should look at its long-term benefits.
Aslantas said that “wherever the congress goes, the tourism in the host area grows.”
The 39th Asian Skal Congress will be participated in by Skal members who are professionals coming from tourism-related industries, such as hotels, airlines, travel media, shipping, theme parks, car rentals, hospitality, academe and national tourism offices.
Skal International Cebu director Jenny Franco said the group has formed different committees, including one that will take charge of coming up with special packages for congress participants.
Aslantas said the event will tackle several issues, including tourism amid the global financial crisis and her proposal to reposition Skal as the biggest grouping of travel and tourism professionals.
Skal vision and mission focus on sustainable and quality tourism.
SKAL International Association of Travel and Tourism Professional world president Hulya Aslantas urged organizers of next year’s 39th Asian Skal Congress in Cebu to provide “attractive” airfare and accommodation rates to attract more participants to the event.
Cebu will host the 2010 Asian Skal Congress, an annual international gathering of top tourism and travel players from Asia and the Pacific, in May next year. This will be the second time for Cebu to host the event. The first time was in 1995.
“This will be a good opportunity for Cebu to promote (itself). About 400 are expected to attend. But more people will come, depending on the attractiveness of programs, as well as airfare and accommodation rates. When they come, this will be like an inspection trip for them,” said Aslantas.
Skal International Cebu president Charles Lim said that while the congress may cost “millions” to prepare, stakeholders should look at its long-term benefits.
Aslantas said that “wherever the congress goes, the tourism in the host area grows.”
The 39th Asian Skal Congress will be participated in by Skal members who are professionals coming from tourism-related industries, such as hotels, airlines, travel media, shipping, theme parks, car rentals, hospitality, academe and national tourism offices.
Skal International Cebu director Jenny Franco said the group has formed different committees, including one that will take charge of coming up with special packages for congress participants.
Aslantas said the event will tackle several issues, including tourism amid the global financial crisis and her proposal to reposition Skal as the biggest grouping of travel and tourism professionals.
Skal vision and mission focus on sustainable and quality tourism.
Asset management group boosts domestic presence
LISTED company ATR KimEng Financial Corp. (ATRKE Financial) is expanding its presence in the fast-growing domestic asset management industry, starting with the formation of a dedicated business group called ATR KimEng Asset Management Group to be headed by former ING Investment Management regional general manager Michael V. Ferrer.
In a disclosure to the Philippine Stock Exchange, ATRKE Financial reported that subsidiary ATR KimEng Capital Partners Inc. (ATRKE Capital) will reorganize its asset management businesses into the Asset Management Group and increase the capital of the these businesses to fund this new initiative.
For updates from around the country, follow Sun.Star on Twitter
ATRKE Capital currently has a presence in the asset management industry that it conducts through its subsidiary The Mutual Fund Management Company of the Philippines (MFMCP), which manages three mutual funds through its trust department.
On a combined basis, the whole ATR KimEng Group manages and administers over P5 billion in Assets Under Management (AUM) consisting of mutual funds, trust assets, insurance portfolios, and real estate for proprietary and third party clients.
As part of the plan, ATR KimEng Direct Investments, a subsidiary of ATRKE Capital, will be renamed ATR KimEng Asset Management Holdings Inc. and its authorized capital increased to P140 million.
Sale
MFMCP will be renamed ATR KimEng Asset Advisors (ATRKE Asset Advisors) and its authorized capital will be increased to P100 million. ATRKE Capital will concurrently sell its 83-percent stake in MFMCP to ATRKE Direct Investments, which will be the entity that will subscribe to new shares in the new ATRKE Asset Advisors.
In an interview, ATR KimEng Group president and chief executive officer (CEO) Manuel N. Tor-desillas said “ATR KimEng’s expansion of its asset management business is an integral part of our strategy of building a leading position in the capital markets, and brings synergies with our insurance and real estate businesses.”
“We believe that this is an opportune time to build capabilities in asset management while other players are retreating. As an independent asset management firm, ATR KimEng Asset Advisors is uniquely positioned to deliver high quality investment solutions to institutional and individual clients through multiple distribution channels,” he added.
To head this new initiative, ATR KimEng has tapped Ferrer, an experienced investment management professional, as its management partner. Ferrer has more than 20 years experience in asset management, most recently as the regional general manager for ING Investment Management based in Hong Kong where he was responsible for ING’s asset management businesses in Malaysia, Thailand, Singapore, the Philippines, India and the Middle East (Dubai).
Asset classes
Phillip Hagedorn, president and CEO of MFMCP, will continue to play an active role in ATRKE Asset Advisors as investment director and will oversee the domestic equities portfolios.
The investment team will also be expanded to include experienced portfolio managers to cover a wide range of asset classes.
“Despite the onset of the global financial crisis last year, the asset management industry has continued to grow at a healthy pace driven primarily by increasing affluence and wealth creation,” said Ferrer.
The trust industry’s AUM has grown by 15.4 percent to P1.5 trillion in the first quarter of 2009, while mutual funds have grown to P61 billion in AUM over the same period.
Underpinning the growth in AUM are the economy’s sound macroeconomic fundamentals, increasing gross domestic product per capita and savings rates, favorable demographic trends and a supportive regulatory environment.
Ferrer explained, however, that the penetration of mutual funds to household savings in the country is still one of the lowest in the world, and the industry’s AUM of approximately $20 billion is small compared to its peers in Asia.
The existing range of products available to local investors likewise remains limited.
“ATR KimEng aims to capitalize on these opportunities by developing innovative investment solutions and products that will—in the future—allow clients to invest across a wide range of asset clas-ses,” said Ferrer. These include equities, fixed income, currencies and alternatives, such as real estate, private equity and commodities.
“This will ensure that clients are able to capture emerging opportunities in the global markets and build well-diversified portfolios. ATR KimEng’s asset management business will adopt globally accepted investment standards, processes and best practices, while employing sophisticated investment strategies and risk management techniques designed to deliver superior risk-adjusted returns,” he said. (PR)
In a disclosure to the Philippine Stock Exchange, ATRKE Financial reported that subsidiary ATR KimEng Capital Partners Inc. (ATRKE Capital) will reorganize its asset management businesses into the Asset Management Group and increase the capital of the these businesses to fund this new initiative.
For updates from around the country, follow Sun.Star on Twitter
ATRKE Capital currently has a presence in the asset management industry that it conducts through its subsidiary The Mutual Fund Management Company of the Philippines (MFMCP), which manages three mutual funds through its trust department.
On a combined basis, the whole ATR KimEng Group manages and administers over P5 billion in Assets Under Management (AUM) consisting of mutual funds, trust assets, insurance portfolios, and real estate for proprietary and third party clients.
As part of the plan, ATR KimEng Direct Investments, a subsidiary of ATRKE Capital, will be renamed ATR KimEng Asset Management Holdings Inc. and its authorized capital increased to P140 million.
Sale
MFMCP will be renamed ATR KimEng Asset Advisors (ATRKE Asset Advisors) and its authorized capital will be increased to P100 million. ATRKE Capital will concurrently sell its 83-percent stake in MFMCP to ATRKE Direct Investments, which will be the entity that will subscribe to new shares in the new ATRKE Asset Advisors.
In an interview, ATR KimEng Group president and chief executive officer (CEO) Manuel N. Tor-desillas said “ATR KimEng’s expansion of its asset management business is an integral part of our strategy of building a leading position in the capital markets, and brings synergies with our insurance and real estate businesses.”
“We believe that this is an opportune time to build capabilities in asset management while other players are retreating. As an independent asset management firm, ATR KimEng Asset Advisors is uniquely positioned to deliver high quality investment solutions to institutional and individual clients through multiple distribution channels,” he added.
To head this new initiative, ATR KimEng has tapped Ferrer, an experienced investment management professional, as its management partner. Ferrer has more than 20 years experience in asset management, most recently as the regional general manager for ING Investment Management based in Hong Kong where he was responsible for ING’s asset management businesses in Malaysia, Thailand, Singapore, the Philippines, India and the Middle East (Dubai).
Asset classes
Phillip Hagedorn, president and CEO of MFMCP, will continue to play an active role in ATRKE Asset Advisors as investment director and will oversee the domestic equities portfolios.
The investment team will also be expanded to include experienced portfolio managers to cover a wide range of asset classes.
“Despite the onset of the global financial crisis last year, the asset management industry has continued to grow at a healthy pace driven primarily by increasing affluence and wealth creation,” said Ferrer.
The trust industry’s AUM has grown by 15.4 percent to P1.5 trillion in the first quarter of 2009, while mutual funds have grown to P61 billion in AUM over the same period.
Underpinning the growth in AUM are the economy’s sound macroeconomic fundamentals, increasing gross domestic product per capita and savings rates, favorable demographic trends and a supportive regulatory environment.
Ferrer explained, however, that the penetration of mutual funds to household savings in the country is still one of the lowest in the world, and the industry’s AUM of approximately $20 billion is small compared to its peers in Asia.
The existing range of products available to local investors likewise remains limited.
“ATR KimEng aims to capitalize on these opportunities by developing innovative investment solutions and products that will—in the future—allow clients to invest across a wide range of asset clas-ses,” said Ferrer. These include equities, fixed income, currencies and alternatives, such as real estate, private equity and commodities.
“This will ensure that clients are able to capture emerging opportunities in the global markets and build well-diversified portfolios. ATR KimEng’s asset management business will adopt globally accepted investment standards, processes and best practices, while employing sophisticated investment strategies and risk management techniques designed to deliver superior risk-adjusted returns,” he said. (PR)
PDIC okays P2.3B payment to Legacy depositors
THE Philippine Deposit Insurance Corporation (PDIC) has approved payment of claims to Legacy Bank depositors amounting to almost P2.26 billion.
This despite reports that its operations had been hampered by the big volume of Legacy bank accounts, missing bank records and several suspected fraud cases.
Of the P2.26 billion, PDIC has paid almost P1.43 billion to Legacy Bank depositors while the balance worth P834.3 million is currently being scheduled for release.
In a statement, PDIC president Jose Nograles said that seasoned PDIC examiners and external auditors combed through about 2,000 boxes of documents to examine and process claims. Still, a total amount of P2.83 billion representing 21,819 claims were found to be document deficient.
Depositors have been notified of documents they need to submit to substantiate their claims.
PDIC reported that a total of 39,020 claims amounting to P4.76 billion are in process. Once these are validated, claimants will be sent their check payments or letters notifying them of the status of their claims.
Meanwhile, PDIC has denied payment for 4,164 claims amounting to P204.07 million. Of these, 709 claims for P78.68 million represented questionable or fictitious accounts. The remaining 3,429 claims worth P125.4 million were claims for non-existent accounts in the Legacy banks.
A total of 19,070 claims amounting to P2.55 billion were put on hold pending further verification.
Nograles expressed confidence that all valid claims will be paid soon.
PDIC has completed the examination of accounts end of August 2009 which has resulted in the validation of 109,791 out of the total 134,653 accounts. The rest were accounts with incomplete documents or referred to Legal. He said that claims processing was in full swing. (PR)
This despite reports that its operations had been hampered by the big volume of Legacy bank accounts, missing bank records and several suspected fraud cases.
Of the P2.26 billion, PDIC has paid almost P1.43 billion to Legacy Bank depositors while the balance worth P834.3 million is currently being scheduled for release.
In a statement, PDIC president Jose Nograles said that seasoned PDIC examiners and external auditors combed through about 2,000 boxes of documents to examine and process claims. Still, a total amount of P2.83 billion representing 21,819 claims were found to be document deficient.
Depositors have been notified of documents they need to submit to substantiate their claims.
PDIC reported that a total of 39,020 claims amounting to P4.76 billion are in process. Once these are validated, claimants will be sent their check payments or letters notifying them of the status of their claims.
Meanwhile, PDIC has denied payment for 4,164 claims amounting to P204.07 million. Of these, 709 claims for P78.68 million represented questionable or fictitious accounts. The remaining 3,429 claims worth P125.4 million were claims for non-existent accounts in the Legacy banks.
A total of 19,070 claims amounting to P2.55 billion were put on hold pending further verification.
Nograles expressed confidence that all valid claims will be paid soon.
PDIC has completed the examination of accounts end of August 2009 which has resulted in the validation of 109,791 out of the total 134,653 accounts. The rest were accounts with incomplete documents or referred to Legal. He said that claims processing was in full swing. (PR)
Realty firms form credit coop
TO promote responsible lending and borrowing, a group of Cebu realty firms formed a credit cooperative that will allow its member agents to access funds to sustain their needs and operations.
Society of Cebu Realty Firms, Inc. (SCRFI) president Edwin Mira said brokers are constantly the source for cash advances by real estate agents.
Realtor Samuel Lao added that agents are not able to get their sales commissions immediately due to the easy payment schemes that developers offer to buyers.
“They borrow money from us (brokers) to cover their overhead expenses. We can’t say no because we don’t want them to be discouraged from work. Now, we will refer them to SCRFI Credit Cooperative,” he said.
Initially, only the licensed real estate agents of SCRFI member firms will be able to benefit from the cooperative, said Mira.
There are 22 member-firms and about 200 agents under SCRFI-the first formal organization of realty firms in the country. It was formed in 2004.
“The cooperative is an enhancement of the support that the group gives to its members,” he said.
To qualify, borrowers will have to pay the required membership dues and attend pre-membership training and orientation.
Mira said SCRFI has initiated controls to sustain the credit cooperative, such as forming a credit committee to investigate or verify the applications of borrowers, pegging a credit limit of about 80 percent of the desired amount of money, and requiring a collateral for loans that meet or exceed the credit limit.
SCRFI members have yet to formulate detailed guidelines on possible cases involving borrowers going on default.
Each of the 22 member-firms has shelled out P4,000 to set up the cooperative that is expected to be fully operational soon.
Richard Asares, chairman of the board of the credit cooperative, said it is estimated to earn about P22,145 revenues on its first year of business operations, more than P25,000 on the second year, and around P36,000 on the third year.
Mira believes that having a credit facility for real estate agents will further boost the performance of the real estate industry in Cebu.
Society of Cebu Realty Firms, Inc. (SCRFI) president Edwin Mira said brokers are constantly the source for cash advances by real estate agents.
Realtor Samuel Lao added that agents are not able to get their sales commissions immediately due to the easy payment schemes that developers offer to buyers.
“They borrow money from us (brokers) to cover their overhead expenses. We can’t say no because we don’t want them to be discouraged from work. Now, we will refer them to SCRFI Credit Cooperative,” he said.
Initially, only the licensed real estate agents of SCRFI member firms will be able to benefit from the cooperative, said Mira.
There are 22 member-firms and about 200 agents under SCRFI-the first formal organization of realty firms in the country. It was formed in 2004.
“The cooperative is an enhancement of the support that the group gives to its members,” he said.
To qualify, borrowers will have to pay the required membership dues and attend pre-membership training and orientation.
Mira said SCRFI has initiated controls to sustain the credit cooperative, such as forming a credit committee to investigate or verify the applications of borrowers, pegging a credit limit of about 80 percent of the desired amount of money, and requiring a collateral for loans that meet or exceed the credit limit.
SCRFI members have yet to formulate detailed guidelines on possible cases involving borrowers going on default.
Each of the 22 member-firms has shelled out P4,000 to set up the cooperative that is expected to be fully operational soon.
Richard Asares, chairman of the board of the credit cooperative, said it is estimated to earn about P22,145 revenues on its first year of business operations, more than P25,000 on the second year, and around P36,000 on the third year.
Mira believes that having a credit facility for real estate agents will further boost the performance of the real estate industry in Cebu.
Company starts work on 2nd tower
By Nancy R. Cudis
IN response to the strong demand for condominium units, property developer AboitizLand Inc. started building the second tower of its first residential condominium development this month.
While construction is going on, the real estate arm of the Aboitiz group is already pre-selling units of Persimmon North, the second of the four towers composing The Persimmon in Mabolo, Cebu City.
AboitizLand marketing manager Leorelei Ylaya said there is still a huge potential market for Persimmon North, following the fast sales take-up of the first tower, Persimmon West.
Persimmon North is already 15 percent complete while the West tower is already 38.59 percent complete. Ylaya said they are on target.
Turnover of the West and North Tower units are set for third quarter of 2010 and fourth quarter of 2011, respectively.
Persimmon North, which will be formally launched next week, is comprised of 157 residential units, studio, one- and two-bedroom, and loft units, in Asian contemporary design. It will have its own administration and security offices as well as function and boardrooms.
“The main difference between the North and West tower is that the North has maid’s quarters in its two-bedroom units. This (feature) is what the market demands,” said Ylaya.
Prices range from P1.8 million to P2.4 million for studio units, P3.1 million to P4 million for one-bedroom units, and P5 to P6 million for two-bedroom units.
“We are now (offering) pre-selling prices. After the launch, we might increase them,” said Ylaya.
The Persimmon, the firm’s 15th project, stands on 1.4 hectare of prime property in M. J. Cuenco Ave., Mabolo, Cebu City.
According to its management, its “impressive” uptake is attributed to its combination of strategic location, amenities, and “value-for-money” construction.
The urban village’s commercial-entertainment strip, called The Persimmon Plus, will be launched before the end of 2009.
It will house more than a dozen concessionaires, including a coffee shop, dental clinic, laundry shop, food outlets, salon, spa, and services.
IN response to the strong demand for condominium units, property developer AboitizLand Inc. started building the second tower of its first residential condominium development this month.
While construction is going on, the real estate arm of the Aboitiz group is already pre-selling units of Persimmon North, the second of the four towers composing The Persimmon in Mabolo, Cebu City.
AboitizLand marketing manager Leorelei Ylaya said there is still a huge potential market for Persimmon North, following the fast sales take-up of the first tower, Persimmon West.
Persimmon North is already 15 percent complete while the West tower is already 38.59 percent complete. Ylaya said they are on target.
Turnover of the West and North Tower units are set for third quarter of 2010 and fourth quarter of 2011, respectively.
Persimmon North, which will be formally launched next week, is comprised of 157 residential units, studio, one- and two-bedroom, and loft units, in Asian contemporary design. It will have its own administration and security offices as well as function and boardrooms.
“The main difference between the North and West tower is that the North has maid’s quarters in its two-bedroom units. This (feature) is what the market demands,” said Ylaya.
Prices range from P1.8 million to P2.4 million for studio units, P3.1 million to P4 million for one-bedroom units, and P5 to P6 million for two-bedroom units.
“We are now (offering) pre-selling prices. After the launch, we might increase them,” said Ylaya.
The Persimmon, the firm’s 15th project, stands on 1.4 hectare of prime property in M. J. Cuenco Ave., Mabolo, Cebu City.
According to its management, its “impressive” uptake is attributed to its combination of strategic location, amenities, and “value-for-money” construction.
The urban village’s commercial-entertainment strip, called The Persimmon Plus, will be launched before the end of 2009.
It will house more than a dozen concessionaires, including a coffee shop, dental clinic, laundry shop, food outlets, salon, spa, and services.
Aboitiz sees strong potential for condominiums in Cebu
By Nancy R. Cudis
THE real estate arm of the Aboitiz group sees a strong potential in condominium development in Cebu as more residential units are being built farther from the cities.
“We are seeing a very good uptake of our sales, especially in our condominium units. Some years ago, we made a judgment call that Cebuanos are going to move towards condominium living because house and lot (units) are located farther and farther away (from the cities),” said AboitizLand Inc. chief operating officer Andoni Aboitiz
Buyers
The uptake is shown in the profile of buyers of Persimmon West-the first tower with 157 units that was built at AboitizLand’s The Persimmon. About 80 percent of the buyers are locals, 10 percent are overseas Filipino workers (OFWs) and about seven percent are foreigners.
“Initially, the target was the international Filipino market but the locals bought units very quickly so we are now building the second tower, Persimmon North, to (also) cater to the OFWs,” Aboitiz said in a press conference yesterday at The Persimmon in Mabolo, Cebu City.
The Persimmon is AboitizLand’s first venture into “vertical development” project.
‘Urban village’
Covering 1.4 hectares of prime property, the “urban village” is comprised of four 15-storey towers complemented with a commercial area and various amenities.
The continuous construction of The Persimmon will take up a huge share of Aboitizland’s P2 billion capital expenditures (capex) for 2010, said Aboitiz. He said that each tower is estimated to cost about P400 million.
AboitizLand is already scouting for new and “good” areas in Cebu City where they can build another skyrise project.
Aboitiz said their next condominium project would be after the completion of The Persimmon in two to three years.
Although it sees strong potential in condominium development, the property developer continues to plan on building horizontal residential development projects.
Recently, AboitizLand closed a sale of 15 hectares of land in Cordova, Mactan where it plans to launch a mid-end inland residential development next year.
Aboitiz disclosed that the P2-billion capex also include the launching of the commercial plot and series of townhouses in its high-end integrated community Pristina North, in Talamban, Cebu City as well as continuation of other projects, including Kishanta in Lagtang, Talisay City.
He said that most of the capex would be sourced through bank loans.
“If you think we are busy in 2009, wait what we will do in 2010. We are going to change (the landscape of) the city,” Aboitiz said.
THE real estate arm of the Aboitiz group sees a strong potential in condominium development in Cebu as more residential units are being built farther from the cities.
“We are seeing a very good uptake of our sales, especially in our condominium units. Some years ago, we made a judgment call that Cebuanos are going to move towards condominium living because house and lot (units) are located farther and farther away (from the cities),” said AboitizLand Inc. chief operating officer Andoni Aboitiz
Buyers
The uptake is shown in the profile of buyers of Persimmon West-the first tower with 157 units that was built at AboitizLand’s The Persimmon. About 80 percent of the buyers are locals, 10 percent are overseas Filipino workers (OFWs) and about seven percent are foreigners.
“Initially, the target was the international Filipino market but the locals bought units very quickly so we are now building the second tower, Persimmon North, to (also) cater to the OFWs,” Aboitiz said in a press conference yesterday at The Persimmon in Mabolo, Cebu City.
The Persimmon is AboitizLand’s first venture into “vertical development” project.
‘Urban village’
Covering 1.4 hectares of prime property, the “urban village” is comprised of four 15-storey towers complemented with a commercial area and various amenities.
The continuous construction of The Persimmon will take up a huge share of Aboitizland’s P2 billion capital expenditures (capex) for 2010, said Aboitiz. He said that each tower is estimated to cost about P400 million.
AboitizLand is already scouting for new and “good” areas in Cebu City where they can build another skyrise project.
Aboitiz said their next condominium project would be after the completion of The Persimmon in two to three years.
Although it sees strong potential in condominium development, the property developer continues to plan on building horizontal residential development projects.
Recently, AboitizLand closed a sale of 15 hectares of land in Cordova, Mactan where it plans to launch a mid-end inland residential development next year.
Aboitiz disclosed that the P2-billion capex also include the launching of the commercial plot and series of townhouses in its high-end integrated community Pristina North, in Talamban, Cebu City as well as continuation of other projects, including Kishanta in Lagtang, Talisay City.
He said that most of the capex would be sourced through bank loans.
“If you think we are busy in 2009, wait what we will do in 2010. We are going to change (the landscape of) the city,” Aboitiz said.
Imperial Palace opens facility
AFTER three years of construction, the P4.5 billion-peso hotel Imperial Palace Waterpark Resort & Spa opened its facilities yesterday.
Lee Cheol-hee, president of Imperial Palace Waterpark Resort & Spa, said that what makes their hotel unique are their spacious rooms, unique cuisine in their restaurants and a water adventure facility.
The facility, a 10-minute drive away from the Mactan Cebu International Airport, features six 11-story buildings, 557 rooms, and first-class amenities including a water park, Jacuzzi, pool villas, a golf course and business center.
The hotel was developed by Philippine BXT Corp. The water park, which is the hotel's main attraction, is divided into different zones with corresponding adventure themes.
Imperial Palace general manager Richie Kang said the facility tightened it security in the water adventure zone to make sure its users, especially children, are safe.
Kang said he is confident that although the facility is the first business venture in the country by the Korean hotel chain, it will attract both local and foreign tourists. He said Cebu is a world-class destination both for business and vacation.
Kang said Imperial Palace now has 900 employees, 860 of which are Filipinos.
Lee Cheol-hee, president of Imperial Palace Waterpark Resort & Spa, said that what makes their hotel unique are their spacious rooms, unique cuisine in their restaurants and a water adventure facility.
The facility, a 10-minute drive away from the Mactan Cebu International Airport, features six 11-story buildings, 557 rooms, and first-class amenities including a water park, Jacuzzi, pool villas, a golf course and business center.
The hotel was developed by Philippine BXT Corp. The water park, which is the hotel's main attraction, is divided into different zones with corresponding adventure themes.
Imperial Palace general manager Richie Kang said the facility tightened it security in the water adventure zone to make sure its users, especially children, are safe.
Kang said he is confident that although the facility is the first business venture in the country by the Korean hotel chain, it will attract both local and foreign tourists. He said Cebu is a world-class destination both for business and vacation.
Kang said Imperial Palace now has 900 employees, 860 of which are Filipinos.
MCCI to forge ties with Gangwon group
By Nancy R. Cudis
THE Mandaue Chamber of Commerce and Industry (MCCI) plants to forge ties with a chamber of commerce in South Korea for the second time, its president said.
Fresh from a business trip with Cebu Gov. Gwendolyn Garcia in South Korea last week, MCCI president Eric Mendoza said they are working on sealing a sister chamber agreement with Gangwon, South Korea.
MCCI, though, is still in the process of forming a technical committee in cooperation with the Cebu Provincial Government.
The committee will work on the details of the agreement, including viability of direct flights and trade opportunities between Cebu and Gangwon.
The agreement, Mendoza said, will also enhance cultural exchange and technical cooperation as well as attract investments between the two provinces.
“What is particularly nice is that (South) Korea is a growth center. There is growth within the country. It is a good investment haven and a new market,” he said.
He pointed out that the South Korean economy grew 2.6 percent in the second quarter this year, which he considered “laudable at this time of the global economic crisis.”
The growth was reported to have been driven by consumer spending and business and construction investment.
“You cannot ignore that South Korea is now investing abroad. Much more that we want to get a portion of those investments (here),” he said.
Mendoza said South Korea's investments abroad include power, car distribution, car manufacturing, and supply chain of industries like electronics.
In Cebu, some Korean investments are Imperial Palace Waterpark Resort and Spa developed by Philippine BXT Corp. in Lapu-Lapu City and power firm Korean Electric Power Corp. (Kepco) in Naga, Cebu—a joint venture of Korean-owned Kepco Philippines Corp. and SPC Power Corp.
If the sister chamber agreement with Gangwon Chamber pushes through, it will be the second international business chamber with ties to the MCCI. The first one is the Vladimir Region Chamber of Commerce and Industry in Russia.
Cebu and Gangwon became sister-provinces in 2008. The recent visit had taken their sisterhood in more specific areas, such as knowledge exchange and trade exhibition.
While Cebu is being promoted as a honeymoon destination in Korea, Mendoza urged the province to learn from Korea's “green revolution” practices that enabled its residents, especially those in the countryside, to be self-sufficient.
THE Mandaue Chamber of Commerce and Industry (MCCI) plants to forge ties with a chamber of commerce in South Korea for the second time, its president said.
Fresh from a business trip with Cebu Gov. Gwendolyn Garcia in South Korea last week, MCCI president Eric Mendoza said they are working on sealing a sister chamber agreement with Gangwon, South Korea.
MCCI, though, is still in the process of forming a technical committee in cooperation with the Cebu Provincial Government.
The committee will work on the details of the agreement, including viability of direct flights and trade opportunities between Cebu and Gangwon.
The agreement, Mendoza said, will also enhance cultural exchange and technical cooperation as well as attract investments between the two provinces.
“What is particularly nice is that (South) Korea is a growth center. There is growth within the country. It is a good investment haven and a new market,” he said.
He pointed out that the South Korean economy grew 2.6 percent in the second quarter this year, which he considered “laudable at this time of the global economic crisis.”
The growth was reported to have been driven by consumer spending and business and construction investment.
“You cannot ignore that South Korea is now investing abroad. Much more that we want to get a portion of those investments (here),” he said.
Mendoza said South Korea's investments abroad include power, car distribution, car manufacturing, and supply chain of industries like electronics.
In Cebu, some Korean investments are Imperial Palace Waterpark Resort and Spa developed by Philippine BXT Corp. in Lapu-Lapu City and power firm Korean Electric Power Corp. (Kepco) in Naga, Cebu—a joint venture of Korean-owned Kepco Philippines Corp. and SPC Power Corp.
If the sister chamber agreement with Gangwon Chamber pushes through, it will be the second international business chamber with ties to the MCCI. The first one is the Vladimir Region Chamber of Commerce and Industry in Russia.
Cebu and Gangwon became sister-provinces in 2008. The recent visit had taken their sisterhood in more specific areas, such as knowledge exchange and trade exhibition.
While Cebu is being promoted as a honeymoon destination in Korea, Mendoza urged the province to learn from Korea's “green revolution” practices that enabled its residents, especially those in the countryside, to be self-sufficient.
Osmeña: Prioritize geothermal energy
Antonio V. OsmeñaEstatements
SPECIAL interest groups continue to prioritize the use of coal to burn in boilers to produce steam and generate electrical power, providing about 85 percent of the electricity used in the world.
In the nuclear power scenario, regardless of how one feels about nuclear power, the major factor slowly shutting down the world’s nuclear industries is economics.
Only where nuclear power is pushed, controlled and heavily subsidized by a strong central government does it survive.
There is no way for less developed countries (LDCs) like the Philippines to subsidize nuclear power, which is a very expensive way to produce electricity.
Beneath the Philippine archipelago are decaying radioactive elements that generate heat that slowly flows into buried rock formations.
Under intense pressure and lava flow from the molten interior of the earth, some of the earth’s geothermal energy escapes through hot springs, geysers and volcanoes, and some is transferred over thousands to millions of years to normally nonrenewable deposits of dry steam, wet steam (mixture of steam and water droplets), and hot water lying relatively close to the earth’s surface.
Today, the Philippines has well-developed geothermal wells located in the islands of Leyte and Oriental Negros that have been producing geothermal energy to produce electricity.
It is now a question of political will whether or not our country desires to avail itself of the geothermal energy to produce the electricity needs all over the Philippinearchipelago, by way of legislating short, intermediate and long-range programs so that it will make a significant contribution in the campaign to manage climate change.
Congress needs to legislate incentives to encourage the drilling of geothermal wells.
Geothermal wells can be drilled like oil and natural gas wells to bring this dry, wet steam or hot water to the earth’s surface.
Unfortunately, there is a lack of media information regarding the status of geothermal resources in our country.
The public should be aware that the advantages of geothermal energy are: (1) the technology is well-developed and relatively simple; (2) large supply for 100 to 200 years exist for areas near deposits; (3) moderate costs; (4) moderate net useful energy yield for large and easily accessible deposits; (5) does not produce carbon dioxide; (6) does not produce materials that can be used to produce nuclear weapons; (7) land disturbance low to moderate, which can be decreased by reinjecting wastewater; and (8) in due time, electricity from geothermal energy will be a source to power electric cars, now a priority project of automakers worldwide.
Environmentalists who are concerned about air pollution from burning coal must prove that there is no effective air pollution device that causes the emission of sulphur dioxide and small amounts of radioactive substances, particulate matter, nitrogen oxides, toxic metal compounds and cancer-causing substances.
Without adequate pollution devices, coal produces more carbon dioxide per weight burned than oil or natural gas, which could accelerate possible global climate change.
Also, coal is messy to store, expensive to transport, requires large amounts of water for processing and cooling of power plants, and produces coal ash, which is messy to dispose of.
Underground wet steam deposits are more common but are harder and more expensive to convert to electricity. These deposits contain water under such high pressure that its temperature is unusually high (180 to 370 degrees C).
When a geothermal well is drilled to bring this superheated water to the surface, about 10 to 20 percent of the flow flashes into steam because of the decreased pressure.
A centrifugal separator is then used to separate the steam from the mixture of steam and water droplets, and the steam spins a turbine to produce electricity.
The remaining hot water, which is often high in dissolved salts, and the condensed steam, are usually reinjected into the earth to prevent buildup of dissolved salts in nearby bodies of water and to reduce subsidence of the ground above the geothermal wells.
The major problem to tackle is the strong lobby of the special interest groups to still prioritize coal.
SPECIAL interest groups continue to prioritize the use of coal to burn in boilers to produce steam and generate electrical power, providing about 85 percent of the electricity used in the world.
In the nuclear power scenario, regardless of how one feels about nuclear power, the major factor slowly shutting down the world’s nuclear industries is economics.
Only where nuclear power is pushed, controlled and heavily subsidized by a strong central government does it survive.
There is no way for less developed countries (LDCs) like the Philippines to subsidize nuclear power, which is a very expensive way to produce electricity.
Beneath the Philippine archipelago are decaying radioactive elements that generate heat that slowly flows into buried rock formations.
Under intense pressure and lava flow from the molten interior of the earth, some of the earth’s geothermal energy escapes through hot springs, geysers and volcanoes, and some is transferred over thousands to millions of years to normally nonrenewable deposits of dry steam, wet steam (mixture of steam and water droplets), and hot water lying relatively close to the earth’s surface.
Today, the Philippines has well-developed geothermal wells located in the islands of Leyte and Oriental Negros that have been producing geothermal energy to produce electricity.
It is now a question of political will whether or not our country desires to avail itself of the geothermal energy to produce the electricity needs all over the Philippinearchipelago, by way of legislating short, intermediate and long-range programs so that it will make a significant contribution in the campaign to manage climate change.
Congress needs to legislate incentives to encourage the drilling of geothermal wells.
Geothermal wells can be drilled like oil and natural gas wells to bring this dry, wet steam or hot water to the earth’s surface.
Unfortunately, there is a lack of media information regarding the status of geothermal resources in our country.
The public should be aware that the advantages of geothermal energy are: (1) the technology is well-developed and relatively simple; (2) large supply for 100 to 200 years exist for areas near deposits; (3) moderate costs; (4) moderate net useful energy yield for large and easily accessible deposits; (5) does not produce carbon dioxide; (6) does not produce materials that can be used to produce nuclear weapons; (7) land disturbance low to moderate, which can be decreased by reinjecting wastewater; and (8) in due time, electricity from geothermal energy will be a source to power electric cars, now a priority project of automakers worldwide.
Environmentalists who are concerned about air pollution from burning coal must prove that there is no effective air pollution device that causes the emission of sulphur dioxide and small amounts of radioactive substances, particulate matter, nitrogen oxides, toxic metal compounds and cancer-causing substances.
Without adequate pollution devices, coal produces more carbon dioxide per weight burned than oil or natural gas, which could accelerate possible global climate change.
Also, coal is messy to store, expensive to transport, requires large amounts of water for processing and cooling of power plants, and produces coal ash, which is messy to dispose of.
Underground wet steam deposits are more common but are harder and more expensive to convert to electricity. These deposits contain water under such high pressure that its temperature is unusually high (180 to 370 degrees C).
When a geothermal well is drilled to bring this superheated water to the surface, about 10 to 20 percent of the flow flashes into steam because of the decreased pressure.
A centrifugal separator is then used to separate the steam from the mixture of steam and water droplets, and the steam spins a turbine to produce electricity.
The remaining hot water, which is often high in dissolved salts, and the condensed steam, are usually reinjected into the earth to prevent buildup of dissolved salts in nearby bodies of water and to reduce subsidence of the ground above the geothermal wells.
The major problem to tackle is the strong lobby of the special interest groups to still prioritize coal.
Family-owned boutique hotel opens in Kasambagan
By Katlene O. Cacho
A FAMILY-owned boutique hotel in Barangay Kasambagan has opened to help Cebu accommodate the growing number of tourists seeking rooms at affordable rates.
Golden Phoenix Suites Inc. occupies a 1.5 hectare-area. It is a three-story boutique hotel with 27 rooms, ranging from premium rooms to family suites. All rooms are fully air-conditioned with flat-screen TVs and telephone service. It also features other amenities like a cafeteria that stays open all the time, Wi-Fi connection and a coffee house.
Rey Kenneth Ng, owner and managing director of Golden Phoenix Suites Inc. said during their soft opening yesterday that they invested P5 million to P6 million for the boutique hotel.
“We thought of really building an apartment but along the way of constructing it, we thought of converting it into a hotel since there were only a few things lacking to make it a boutique hotel,” he said.
He also said that what sets their hotel apart from other boutique hotels is that it offers affordable rates.
Room rates
“We call this a budget hotel,” said Osmond Yang, Golden Phoenix Suites Inc. operations manager. Room rates range from P1,280 to P3,000 a day depending on room type and are quoted for single and double occupancy.
Yang said the family ventured into hotel business because they learned that Cebu still lacks hotel rooms to accommodate the local and foreign tourists.
Ng said that with the tourism campaign of Cebu, more visitors would be coming to the city.
“That’s why we see the need to open the business especially that December and January are approaching,” he said.
Apart from tourists, Ng said they also hope to target the middle-class market. Early next year, the hotel plans to add function rooms to host weddings, birthdays and other celebrations.
The hotel will have its grand opening on Oct. 11.
A FAMILY-owned boutique hotel in Barangay Kasambagan has opened to help Cebu accommodate the growing number of tourists seeking rooms at affordable rates.
Golden Phoenix Suites Inc. occupies a 1.5 hectare-area. It is a three-story boutique hotel with 27 rooms, ranging from premium rooms to family suites. All rooms are fully air-conditioned with flat-screen TVs and telephone service. It also features other amenities like a cafeteria that stays open all the time, Wi-Fi connection and a coffee house.
Rey Kenneth Ng, owner and managing director of Golden Phoenix Suites Inc. said during their soft opening yesterday that they invested P5 million to P6 million for the boutique hotel.
“We thought of really building an apartment but along the way of constructing it, we thought of converting it into a hotel since there were only a few things lacking to make it a boutique hotel,” he said.
He also said that what sets their hotel apart from other boutique hotels is that it offers affordable rates.
Room rates
“We call this a budget hotel,” said Osmond Yang, Golden Phoenix Suites Inc. operations manager. Room rates range from P1,280 to P3,000 a day depending on room type and are quoted for single and double occupancy.
Yang said the family ventured into hotel business because they learned that Cebu still lacks hotel rooms to accommodate the local and foreign tourists.
Ng said that with the tourism campaign of Cebu, more visitors would be coming to the city.
“That’s why we see the need to open the business especially that December and January are approaching,” he said.
Apart from tourists, Ng said they also hope to target the middle-class market. Early next year, the hotel plans to add function rooms to host weddings, birthdays and other celebrations.
The hotel will have its grand opening on Oct. 11.
Crown Regency to host event for potential tower unit buyers
DEVELOPERS see the Ultima Residences Fuente Tower completed by December 2010 and are inviting interested buyers to an investor’s night on Sept. 26, the company said in a press statement.
The Ultima Residences Fuente Tower is a mixed-use condominium with loft-type residential units. It is a project of the Crown Regency Hotel and Towers chain.
The company said that the management of Fuente Triangle Realty and Development Corp. is now preparing to merge the 1st and 2nd floors of the newest tower and the 1st and 2nd floors of Club Ultima to become Shopsville Fuente. The facility will be "the city’s latest addition to classy shopping malls."
The remaining units of Ultima Residences Fuente Tower cost between P2.5 million to P9 million, depending on the area of the unit.
The company is inviting interested buyers to the Sept. 26 investor's night at the Wang Shan Lo restaurant at the 20th floor of Club Ultima. (PR)
The Ultima Residences Fuente Tower is a mixed-use condominium with loft-type residential units. It is a project of the Crown Regency Hotel and Towers chain.
The company said that the management of Fuente Triangle Realty and Development Corp. is now preparing to merge the 1st and 2nd floors of the newest tower and the 1st and 2nd floors of Club Ultima to become Shopsville Fuente. The facility will be "the city’s latest addition to classy shopping malls."
The remaining units of Ultima Residences Fuente Tower cost between P2.5 million to P9 million, depending on the area of the unit.
The company is inviting interested buyers to the Sept. 26 investor's night at the Wang Shan Lo restaurant at the 20th floor of Club Ultima. (PR)
Study places RP 12th out of 17 in Asia for IT competitiveness
MANILA - The Philippines ranked 12th in the Asia Pacific and 51st out of the 66 countries worldwide in terms of information technology (IT) competitiveness, according to a new study conducted by the Economist Intelligence Unit (EIU) and sponsored by the Business Software Alliance (BSA).
The study, now in its third year, assesses and compares the information technology (IT) industry environments of 66 economies to determine the extent to which they enable IT sector competitiveness.
The study noted that the Philippines’ IT sector improved significantly in the IT infrastructure category and advanced slightly in research and development in 2009 compared to 2008.
However, it declined in support for IT industry development and even more so in the human capital area.
2 steps down
The ratings for the Philippines in terms of business and legal environments remained more or less the same in both years.
Overall, the Philippine ranking fell two notches in the Asia Pacific from 10th in 2008 to 12th in 2009 and four rungs in the world from 47th to 51st.
“In today’s economic climate, it is critical that the Philippine Government continue to support the growth of a strong technology sector. The IT sector remains an important engine of economic growth. It is essential for the government to support innovation and take steps to stimulate technology sector output which can help attract investors and accelerate the country’s economic recovery,” said Atty. Claro Parlade, BSA director for software policy, Asia-Pacific.
Advantage
“Challenges for the Philippine Government and other Asia Pacific countries remain. With broadband access becoming a pre-requisite for many parts of the IT sector, economies with pervasive broadband penetration have a big competitive advantage over those where the infrastructure is lacking,” Parlade said.
“The study shows that economies that have strong legal frameworks for the protection of intellectual property (IP) are generally the IT leaders and score higher in the index.
Economies where IP protection has not been well enforced are not traditionally seen as innovators. Some rely instead on their low-cost labor to remain competitive but this is hard to sustain over time. By improving on the factors that contribute to IT competitiveness, Asian economies will generate long- term economic growth,” Parlade added.
According to the Economist Intelligence Unit, six factors work together to create a sound environment for the IT sector: an ample supply of skilled workers; an innovation-friendly culture; world-class technology infrastructure; a robust legal regime that protects intellectual property; a stable, open and competitive economy; and government leadership that strikes the right balance between promoting technology and allowing market forces to work.
The study, now in its third year, assesses and compares the information technology (IT) industry environments of 66 economies to determine the extent to which they enable IT sector competitiveness.
The study noted that the Philippines’ IT sector improved significantly in the IT infrastructure category and advanced slightly in research and development in 2009 compared to 2008.
However, it declined in support for IT industry development and even more so in the human capital area.
2 steps down
The ratings for the Philippines in terms of business and legal environments remained more or less the same in both years.
Overall, the Philippine ranking fell two notches in the Asia Pacific from 10th in 2008 to 12th in 2009 and four rungs in the world from 47th to 51st.
“In today’s economic climate, it is critical that the Philippine Government continue to support the growth of a strong technology sector. The IT sector remains an important engine of economic growth. It is essential for the government to support innovation and take steps to stimulate technology sector output which can help attract investors and accelerate the country’s economic recovery,” said Atty. Claro Parlade, BSA director for software policy, Asia-Pacific.
Advantage
“Challenges for the Philippine Government and other Asia Pacific countries remain. With broadband access becoming a pre-requisite for many parts of the IT sector, economies with pervasive broadband penetration have a big competitive advantage over those where the infrastructure is lacking,” Parlade said.
“The study shows that economies that have strong legal frameworks for the protection of intellectual property (IP) are generally the IT leaders and score higher in the index.
Economies where IP protection has not been well enforced are not traditionally seen as innovators. Some rely instead on their low-cost labor to remain competitive but this is hard to sustain over time. By improving on the factors that contribute to IT competitiveness, Asian economies will generate long- term economic growth,” Parlade added.
According to the Economist Intelligence Unit, six factors work together to create a sound environment for the IT sector: an ample supply of skilled workers; an innovation-friendly culture; world-class technology infrastructure; a robust legal regime that protects intellectual property; a stable, open and competitive economy; and government leadership that strikes the right balance between promoting technology and allowing market forces to work.
Real estate bill gets a break
THE chairman of the House committee on economic affairs is hoping that the Real Estate Investment Trust (REIT) Act of 2009 gets enacted into law before Congress goes into recess on Oct. 17.
This, after the Senate and the House of Representatives finally approved the REIT bill in a bicameral conference last Tuesday, said Rep. Ramon “Red” Durano VI (Cebu Province, 5th district) in a phone interview yesterday.
The REIT bill, drafted by Durano, is the Lower House’s version of a similar proposal filed by Sen. Pia Cayetano.
Durano said the development of REITs in the country will help develop the capital market since it will attract investors.
“The REITs are higher yielding and will provide investors with steady income streams since they are only allowed to invest in income-generating assets,” he said.
Aside from this, the approved version also guarantees investors dividends every year, since the law will provide that 90 percent of the income will have to be distributed as dividends on a yearly basis.
“Only the remaining 10 percent will be imposed with the corporate tax, when in a regular company, they are taxed 100 percent of their income,” Durano said.
Corporate tax imposed on REIT entities is also five percent lower than the regular corporate tax rate of 30 percent.
Initially, the first proposal of the REIT bill would have included a tax exemption for companies that register as REITs, but the Department of Finance did not allow this, he said.
To become a REIT, a company is also mandated to register with the Philippine Stock Exchange as a publicly-traded company within two years from incorporation.“This way,” Durano said, “ordinary citizens are able to partake of real estate ventures.”
Priority
Certain measures are also being considered under the bill to safeguard the interests of local investors. Durano said local investors are given priority over foreign ones and REITs must also be incorporated in the Philippines to avail themselves of the incentives.
Laws governing corporations in the country registered under the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE) will also coverthe REITs.
Since it also involves money, Durano said the Bangko Sentral ng Pilipinas (BSP) will also be involved in formulating the implementing rules and regulations once the REIT is signed into law by the President.
Durano also said that once the REIT is already developed in the country, investors can also expand to infrastructure development, where roads, expressways and bridges can be managed by private companies.
This, after the Senate and the House of Representatives finally approved the REIT bill in a bicameral conference last Tuesday, said Rep. Ramon “Red” Durano VI (Cebu Province, 5th district) in a phone interview yesterday.
The REIT bill, drafted by Durano, is the Lower House’s version of a similar proposal filed by Sen. Pia Cayetano.
Durano said the development of REITs in the country will help develop the capital market since it will attract investors.
“The REITs are higher yielding and will provide investors with steady income streams since they are only allowed to invest in income-generating assets,” he said.
Aside from this, the approved version also guarantees investors dividends every year, since the law will provide that 90 percent of the income will have to be distributed as dividends on a yearly basis.
“Only the remaining 10 percent will be imposed with the corporate tax, when in a regular company, they are taxed 100 percent of their income,” Durano said.
Corporate tax imposed on REIT entities is also five percent lower than the regular corporate tax rate of 30 percent.
Initially, the first proposal of the REIT bill would have included a tax exemption for companies that register as REITs, but the Department of Finance did not allow this, he said.
To become a REIT, a company is also mandated to register with the Philippine Stock Exchange as a publicly-traded company within two years from incorporation.“This way,” Durano said, “ordinary citizens are able to partake of real estate ventures.”
Priority
Certain measures are also being considered under the bill to safeguard the interests of local investors. Durano said local investors are given priority over foreign ones and REITs must also be incorporated in the Philippines to avail themselves of the incentives.
Laws governing corporations in the country registered under the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE) will also coverthe REITs.
Since it also involves money, Durano said the Bangko Sentral ng Pilipinas (BSP) will also be involved in formulating the implementing rules and regulations once the REIT is signed into law by the President.
Durano also said that once the REIT is already developed in the country, investors can also expand to infrastructure development, where roads, expressways and bridges can be managed by private companies.
High-end condo developer sees steady sales from local buyers
By Debra Magallon-Estero
DESPITE the legal battles it is facing, a developer of a high-end condominium project reported that it was still able to receive better than expected sales from the local market.
“It came as a surprise,” said Syntech Properties sales and marketing manager Anita Go Blanco during an interview last Thursday.
For updates from around the country, follow Sun.Star on Twitter
“They are mainly the ones who have heard about the negative publicity, but they are still buying the units,” said Jesus Alao, sales executive for Syntech Properties Inc.
Syntech Properties is the developer of Citylights Gardens, a four-tower condominium compound located in Nivel Hills, Apas, Cebu City.
Local buyers account for 18 percent of the buyers of units at the Citylight Gardens Towers 3 and 4.
Sixty percent of the buyers are mainly foreign nationals with Filipino spouses, while 22 percent are foreign nationals who are either expatriates or retirees.
Of the 216 units of Towers 3 and 4, 150 units have been sold, of which 120 units were already turned over to their owners.
Optimistic
Blanco said the company is optimistic it will be able to sell the remaining units next year.
“If only there was no global financial crisis, we could have sold all the units this year,” she said.
Syntech Properties has invested P44 million in the rehabilitation of the common areas and facilities of the development.
However, it still cannot determine when the rehabilitation will be completed since some common areas are being occupied by officers of the condominium corporation of Towers 1 and 2.
This includes the coffee shop room, which is used as their administrative office, and the electrical room, which was converted into a storage room.
The rehabilitation project of Syntech Properties led the residents of Towers 1 and 2 to file legal cases against Syntech Properties.
Last July, residents of Towers 1 and 2 filed a contempt case against Syntech Properties for allegedly cutting off the water supply to the two towers last March.
But Alao said a court decision on the water issue was already served, which “hopefully settles everything,” he said.
According to the omnibus order from Regional Trial Court Branch Six, copies of which were furnished by Syntech Properties to reporters, the court decided against the unit owners’ petition for a preliminary injunction against Syntech Properties since Syntech was found not to have been in violation of the conditional water permit (CWP).
The unit owners of Towers 1 and 2 had wanted Syntech to stop supplying water to Towers 3 and 4, saying this was a violation of Syntech’s conditional water permit.
DESPITE the legal battles it is facing, a developer of a high-end condominium project reported that it was still able to receive better than expected sales from the local market.
“It came as a surprise,” said Syntech Properties sales and marketing manager Anita Go Blanco during an interview last Thursday.
For updates from around the country, follow Sun.Star on Twitter
“They are mainly the ones who have heard about the negative publicity, but they are still buying the units,” said Jesus Alao, sales executive for Syntech Properties Inc.
Syntech Properties is the developer of Citylights Gardens, a four-tower condominium compound located in Nivel Hills, Apas, Cebu City.
Local buyers account for 18 percent of the buyers of units at the Citylight Gardens Towers 3 and 4.
Sixty percent of the buyers are mainly foreign nationals with Filipino spouses, while 22 percent are foreign nationals who are either expatriates or retirees.
Of the 216 units of Towers 3 and 4, 150 units have been sold, of which 120 units were already turned over to their owners.
Optimistic
Blanco said the company is optimistic it will be able to sell the remaining units next year.
“If only there was no global financial crisis, we could have sold all the units this year,” she said.
Syntech Properties has invested P44 million in the rehabilitation of the common areas and facilities of the development.
However, it still cannot determine when the rehabilitation will be completed since some common areas are being occupied by officers of the condominium corporation of Towers 1 and 2.
This includes the coffee shop room, which is used as their administrative office, and the electrical room, which was converted into a storage room.
The rehabilitation project of Syntech Properties led the residents of Towers 1 and 2 to file legal cases against Syntech Properties.
Last July, residents of Towers 1 and 2 filed a contempt case against Syntech Properties for allegedly cutting off the water supply to the two towers last March.
But Alao said a court decision on the water issue was already served, which “hopefully settles everything,” he said.
According to the omnibus order from Regional Trial Court Branch Six, copies of which were furnished by Syntech Properties to reporters, the court decided against the unit owners’ petition for a preliminary injunction against Syntech Properties since Syntech was found not to have been in violation of the conditional water permit (CWP).
The unit owners of Towers 1 and 2 had wanted Syntech to stop supplying water to Towers 3 and 4, saying this was a violation of Syntech’s conditional water permit.
Monday, September 21, 2009
CHI launches "Greenology" campaign
By Ehda M. Dagooc (The Freeman) Updated September 15, 2009 12:00 AM
CEBU, Philippines - With climate change now becoming one of the most important issues that needs utmost attention, Cebu’s real estate giant Cebu Holdings Inc. (CHI) recently launched a sustainable development campaign promoting environmental awareness.
“It is time that we involve not only our mall tenants but also the mall-goers to be proactive in helping protect the environment,” said CHI President Francis Monera during the launching of the mall’s “Greenology” campaign.
CHI, the developer and operator of Ayala Center Cebu (ACC) shopping center, will pioneer a very active move in educating shoppers to embrace full responsibility on environment awareness, through introducing year-long activities that promotes environmental protection.
One activity is the drive to eliminate or reduce the use of plastic shopping bags.
Monera explained that shoppers are given incentives when they turn over plastic shopping bags that contain items purchased inside ACC.
The Greenology campaign will also feature environment-friendly bags produced by Filipino designers, “green” garments and recyclables fair, among others.
This campaign according to Monera came as an offshoot of CHI’s sustainable development policy by implementing a sound management system that involves a collaborative effort by the company’s employees, partners, and tenants.
According to CHI, the system involves creating of a sustainability committee; raising awareness among employees, tenants and partners on the importance of environmental protection and sustainable development; implementing energy and water conservation programs; tree planting; and setting in place a solid waste management program.
CHI supports the principle of sustainable development, in which the property developer undertakes measures to ensure that its business activities have little or no impact on the environment, Monera said.
“We put sustainability at the core of the business,” Monera said, citing for instance the mall’s The Terraces, which carries a resort-theme- combining several plant varieties and water fountains surrounded by shops and restaurants.
“Others commented that we could have utilized the garden portion to accommodate more tenants and rake more revenues. But the ‘green portion’ is our way of sending out a message that our projects carry with it our efforts in raising environmental awareness,” he said.
As part of its sustainability program, CHI will start calculating this year the carbon footprint of each employee. The activity is meant to raise the awareness of CHI employees on how their activities contribute to climate change.
Monera said CHI will eventually require employees to reduce their carbon footprint. But the company has to educate employees before establishing benchmarks and setting targets, he added.
Elson Homez, CHI head for property management division, reported that since it implemented energy and water saving measures last year, CHI has cut power consumption by 8.7 percent and achieved a three-percent reduction in water consumption.
CEBU, Philippines - With climate change now becoming one of the most important issues that needs utmost attention, Cebu’s real estate giant Cebu Holdings Inc. (CHI) recently launched a sustainable development campaign promoting environmental awareness.
“It is time that we involve not only our mall tenants but also the mall-goers to be proactive in helping protect the environment,” said CHI President Francis Monera during the launching of the mall’s “Greenology” campaign.
CHI, the developer and operator of Ayala Center Cebu (ACC) shopping center, will pioneer a very active move in educating shoppers to embrace full responsibility on environment awareness, through introducing year-long activities that promotes environmental protection.
One activity is the drive to eliminate or reduce the use of plastic shopping bags.
Monera explained that shoppers are given incentives when they turn over plastic shopping bags that contain items purchased inside ACC.
The Greenology campaign will also feature environment-friendly bags produced by Filipino designers, “green” garments and recyclables fair, among others.
This campaign according to Monera came as an offshoot of CHI’s sustainable development policy by implementing a sound management system that involves a collaborative effort by the company’s employees, partners, and tenants.
According to CHI, the system involves creating of a sustainability committee; raising awareness among employees, tenants and partners on the importance of environmental protection and sustainable development; implementing energy and water conservation programs; tree planting; and setting in place a solid waste management program.
CHI supports the principle of sustainable development, in which the property developer undertakes measures to ensure that its business activities have little or no impact on the environment, Monera said.
“We put sustainability at the core of the business,” Monera said, citing for instance the mall’s The Terraces, which carries a resort-theme- combining several plant varieties and water fountains surrounded by shops and restaurants.
“Others commented that we could have utilized the garden portion to accommodate more tenants and rake more revenues. But the ‘green portion’ is our way of sending out a message that our projects carry with it our efforts in raising environmental awareness,” he said.
As part of its sustainability program, CHI will start calculating this year the carbon footprint of each employee. The activity is meant to raise the awareness of CHI employees on how their activities contribute to climate change.
Monera said CHI will eventually require employees to reduce their carbon footprint. But the company has to educate employees before establishing benchmarks and setting targets, he added.
Elson Homez, CHI head for property management division, reported that since it implemented energy and water saving measures last year, CHI has cut power consumption by 8.7 percent and achieved a three-percent reduction in water consumption.
Wellness industry players hope to gain from SEMP
(The Freeman) Updated September 07, 2009 12:00 AM
CEBU, Philippines - Stakeholders of Cebu’s health and wellness industry are hoping to take advantage of the multi-million earning sector, which includes the medical tourism market, after it completes a market guidance blueprint that will be supported by the Center for Promotion of Imports from Development Countries (CBI)-Netherlands.
Department of Trade and Industry (DTI-Cebu Provincial Office) provincial director Nelia F. Navarro said the health and wellness players through the Cebu Health and Wellness Council (CHWC) put their hopes on the upcoming completion of the Sector-Export-Marketing-Plan (SEMP), that will pave the way for dramatic growth of health and wellness sector in Cebu in the next few years.
The SEMP, which will be developed by foreign and local experts in export industry, with the support of CBI-Netherlands, German Technical Cooperation (GTZ) and the Department of Trade and Industry (DTI), will provide an intensive marketing plan for the identified priority sectors like seaweed, health and wellness, fashion accessories, furniture, and gifts-toys-housewares.
Navarro said it is important for Cebu players to have updated information on market intelligence, in order to benchmark with competitor countries in health and wellness, such as Thailand, India, Malaysia, and Singapore.
“We will be expecting experts from Netherlands to coach with our players here especially hospitals. Our major concern now is the market access,” said Navarro.
As far as facilities are concern, Navarro said Cebu is already close to competitors like Thailand, India, Singapore and Malaysia, but the problem is how to access the huge health and wellness market in the world, especially the medical tourists.
Once Cebu gains market access, growth in the health and wellness sector is expected to soar, and Cebu will be able to have another economic revenue backbone through health and wellness.
For the meantime, Navarro said the industry is trying to attract the “Balikbayans” to avail of the world-class standard health and wellness services in Cebu, specifically the most popular vanity and dental services.
Navarro said while it will take some time to engrave Cebu’s emerging position as health and wellness destination in Asia, the players can easily start with attracting millions of Filipinos working and residing abroad.
Earlier, the Spa and Wellness Association of Cebu (SWAC) announced that it is closely working with CHWC along with other organizations in the health and wellness sector, to provide a sound package for the Medical Tourism market. — Ehda M. Dagooc
CEBU, Philippines - Stakeholders of Cebu’s health and wellness industry are hoping to take advantage of the multi-million earning sector, which includes the medical tourism market, after it completes a market guidance blueprint that will be supported by the Center for Promotion of Imports from Development Countries (CBI)-Netherlands.
Department of Trade and Industry (DTI-Cebu Provincial Office) provincial director Nelia F. Navarro said the health and wellness players through the Cebu Health and Wellness Council (CHWC) put their hopes on the upcoming completion of the Sector-Export-Marketing-Plan (SEMP), that will pave the way for dramatic growth of health and wellness sector in Cebu in the next few years.
The SEMP, which will be developed by foreign and local experts in export industry, with the support of CBI-Netherlands, German Technical Cooperation (GTZ) and the Department of Trade and Industry (DTI), will provide an intensive marketing plan for the identified priority sectors like seaweed, health and wellness, fashion accessories, furniture, and gifts-toys-housewares.
Navarro said it is important for Cebu players to have updated information on market intelligence, in order to benchmark with competitor countries in health and wellness, such as Thailand, India, Malaysia, and Singapore.
“We will be expecting experts from Netherlands to coach with our players here especially hospitals. Our major concern now is the market access,” said Navarro.
As far as facilities are concern, Navarro said Cebu is already close to competitors like Thailand, India, Singapore and Malaysia, but the problem is how to access the huge health and wellness market in the world, especially the medical tourists.
Once Cebu gains market access, growth in the health and wellness sector is expected to soar, and Cebu will be able to have another economic revenue backbone through health and wellness.
For the meantime, Navarro said the industry is trying to attract the “Balikbayans” to avail of the world-class standard health and wellness services in Cebu, specifically the most popular vanity and dental services.
Navarro said while it will take some time to engrave Cebu’s emerging position as health and wellness destination in Asia, the players can easily start with attracting millions of Filipinos working and residing abroad.
Earlier, the Spa and Wellness Association of Cebu (SWAC) announced that it is closely working with CHWC along with other organizations in the health and wellness sector, to provide a sound package for the Medical Tourism market. — Ehda M. Dagooc
Cebu Medtourism campaign gaining favorable feedback
By AJ de la Torre (The Freeman) Updated September 21, 2009 12:00 AM
CEBU, Philippines - The promotion of Cebu as a premier destination for medical tourism is slowly paying off with positive feedback from tourists and local and international guests being noted by the font liners of such effort.
Engr. Oscar Tuason, president of the Cebu Health and Wellness Council and the Administrator of the Cebu Doctors hospital shared that despite the financial crisis, medical tourists in Cebu surprisingly increased as opposed to what they were expecting.
Tuason said that especially these days, customers now give value to how much they spend at the same time making sure they get the quality they need at affordable prices.
He shared that in other countries, aside from higher payments, there are longer waiting lines for patients to undergo the medical procedure.
Tuason said that the patients see the greater importance of securing their health and not on the high status of the place they are treated like the accreditation that it has achieved.
He said that the accreditation in fact is not a basis of how it could attract the customers but it is mainly on the “availability of good quality services that will attract medical tourists.”
However, despite that Tuason said that the three major hospitals in Cebu, which are partners of the CHWC, are undergoing accreditation to further push for the expansions of the hospitals.
But Tuason said that this does not mean that if the hospitals will be accredited, this will gather more medical tourists.
“As long as they are happy and they feel guaranteed of the clinical procedures and services, they would go for it,” Tuason added.
The three hospitals in Cebu are undergoing processes for international accreditation but Tuason said that they are also aiming for the Philhealth accreditation to go side by side with the international accreditation.
Tuason said that the facilities of the hospitals in Cebu are also not behind the facilities from other leading countries as they are continually striving to stay on track in using state of the art facilities.
This is part of the efforts of the CHWC, said Tuason, which persistently advocates the many services that could be availed in Cebu like the medical services aside from the council’s effort to push the Spa and Wellness Tourism.
CEBU, Philippines - The promotion of Cebu as a premier destination for medical tourism is slowly paying off with positive feedback from tourists and local and international guests being noted by the font liners of such effort.
Engr. Oscar Tuason, president of the Cebu Health and Wellness Council and the Administrator of the Cebu Doctors hospital shared that despite the financial crisis, medical tourists in Cebu surprisingly increased as opposed to what they were expecting.
Tuason said that especially these days, customers now give value to how much they spend at the same time making sure they get the quality they need at affordable prices.
He shared that in other countries, aside from higher payments, there are longer waiting lines for patients to undergo the medical procedure.
Tuason said that the patients see the greater importance of securing their health and not on the high status of the place they are treated like the accreditation that it has achieved.
He said that the accreditation in fact is not a basis of how it could attract the customers but it is mainly on the “availability of good quality services that will attract medical tourists.”
However, despite that Tuason said that the three major hospitals in Cebu, which are partners of the CHWC, are undergoing accreditation to further push for the expansions of the hospitals.
But Tuason said that this does not mean that if the hospitals will be accredited, this will gather more medical tourists.
“As long as they are happy and they feel guaranteed of the clinical procedures and services, they would go for it,” Tuason added.
The three hospitals in Cebu are undergoing processes for international accreditation but Tuason said that they are also aiming for the Philhealth accreditation to go side by side with the international accreditation.
Tuason said that the facilities of the hospitals in Cebu are also not behind the facilities from other leading countries as they are continually striving to stay on track in using state of the art facilities.
This is part of the efforts of the CHWC, said Tuason, which persistently advocates the many services that could be availed in Cebu like the medical services aside from the council’s effort to push the Spa and Wellness Tourism.
Friday, September 18, 2009
AboitizLand to pour P2B on more housing projects
CEBU, Philippines - Bullish about Cebu’s real estate market, property developer Aboitiz Land Inc. will be spending P2 billion next year on more residential projects in Cebu as well as expansions of its existing developments.
AboitizLand president Andoni Aboitiz said that the company just closed a deal to acquire a 15-hectare property at Cordova on Mactan Island, for the establishment of another middle-range subdivision, the first development of AboitizLand located in Mactan.
Bigger chunk of the capital expenditure (capex) allocated for 2010 will be poured on the expansion of its City-based condominium project called “Persimmon”, as the company will spend about P400 million for the construction of each tower.
Aboitiz said the company is on the constant look out for available land for other projects, especially for condominium developments, as it has seen a strong take up of condominium units in Cebu since the company offered the Tower 1 units to the market.
Part of the expenditure will also be used to construct the commercial segment of its high-end residential project in Talamban—the Pristina North, including the Town Houses component of the chic subdivision.
AboitizLand’s middle-range subdivision project in the Southern part of the City, Kishanta, will also be expanded next year, as take up sales is also strong, he said.
The company expects to complete all the 628 condominium units at 1.4 hectare Persimmon project located in Mabolo area, Aboitiz said.
“[We noted] good uptake of [real estate] sales especially in condominium market. Some years ago we made judgment call that Cebuanos will embrace condo living,” Aboitiz said adding that today, the condo market is hitting very strongly and he projects a more competitive market in the next few years.
“We are studying some areas and good properties [around Metro Cebu] for our future condominium development projects,” he said in an interview on the sidelines of the launching of the 15-story Persimmon North Tower that will offer another 157 condo units.
Last year, AboitizLand Inc. spent P2.3 billion in for projects it started in 2008, including Persimmon, iMEZ project at the Mactan Export Zone (MEZ-2), Kishanta expansion, among others.
According to Aboitiz, the company will be spending more on condominium developments in the next few years, as soon as it can spot good location for its next condo project.
The Persimmon is the company’s 15th project. It has realized “impressive” uptake attributed to its combination of strategic location, excellent amenities and value-for-money construction.
For its Tower 1, surprisingly, 80 percent of the buyers are local residents in Cebu, 10 percent international Filipino market, and seven percent foreigners.
AboitizLand president Andoni Aboitiz said that the company just closed a deal to acquire a 15-hectare property at Cordova on Mactan Island, for the establishment of another middle-range subdivision, the first development of AboitizLand located in Mactan.
Bigger chunk of the capital expenditure (capex) allocated for 2010 will be poured on the expansion of its City-based condominium project called “Persimmon”, as the company will spend about P400 million for the construction of each tower.
Aboitiz said the company is on the constant look out for available land for other projects, especially for condominium developments, as it has seen a strong take up of condominium units in Cebu since the company offered the Tower 1 units to the market.
Part of the expenditure will also be used to construct the commercial segment of its high-end residential project in Talamban—the Pristina North, including the Town Houses component of the chic subdivision.
AboitizLand’s middle-range subdivision project in the Southern part of the City, Kishanta, will also be expanded next year, as take up sales is also strong, he said.
The company expects to complete all the 628 condominium units at 1.4 hectare Persimmon project located in Mabolo area, Aboitiz said.
“[We noted] good uptake of [real estate] sales especially in condominium market. Some years ago we made judgment call that Cebuanos will embrace condo living,” Aboitiz said adding that today, the condo market is hitting very strongly and he projects a more competitive market in the next few years.
“We are studying some areas and good properties [around Metro Cebu] for our future condominium development projects,” he said in an interview on the sidelines of the launching of the 15-story Persimmon North Tower that will offer another 157 condo units.
Last year, AboitizLand Inc. spent P2.3 billion in for projects it started in 2008, including Persimmon, iMEZ project at the Mactan Export Zone (MEZ-2), Kishanta expansion, among others.
According to Aboitiz, the company will be spending more on condominium developments in the next few years, as soon as it can spot good location for its next condo project.
The Persimmon is the company’s 15th project. It has realized “impressive” uptake attributed to its combination of strategic location, excellent amenities and value-for-money construction.
For its Tower 1, surprisingly, 80 percent of the buyers are local residents in Cebu, 10 percent international Filipino market, and seven percent foreigners.
Balikbayans eyed to be Cebu's envoys for health and wellness
CEBU, Philippines - The Cebu Health and Wellness Council (CHWC) is initiating an aggressive move to tap the balikbayan community from the different continents around the world to be the “ambassadors” to promote Cebu as the premier health and wellness destination in Asia.
“Our first target is to attract all Filipinos around the world to avail of the ‘best’ health and wellness services we have here,” said Nelia F. Navarro, Department of Trade and Industry (DTI-Cebu Provincial Office) provincial director.
Navarro said since it is still hard to convince foreigners to consider the Philippines, specifically Cebu as health and wellness destination, the International Filipino communities around the world are, by now, the best tool for promotion.
Navarro said Cebu medical institutions, as well as wellness facilities have been ready to accommodate the more sophisticated market, like Americans and Europeans, seeking for medical help, and total package for wellness vacations.
The Philippines, she said is closely competing with Thailand, India, Singapore and Malaysia, apparently these countries are attracting significant number of health and wellness enthusiast tourists, or the medical tourists.
In Asia, medical tourism has raked US$120 billion in revenues for 2006, a big improvement from US$40 billion it earned in 2000. India is now the number one destination for medical tourists around the world.
Total package for one medical tourist, is pegged at US$28,000, depending on medical procedure, this already include accommodation, vacation package among others.
Every medical tourist can save at least US$77,000 for this amount, if they were to have their medical services done in other countries like Europe or United States.
Aside from vanity and dental services, medical tourists, including Balikbayans are also availing other medical services such as cardiac surgery, executive check up, MRI, CT Scan.
CHWC president Oscar Tuason earlier said that although the world economic turbulence has brought about jittery of slowdown in the medical tourism sector in the Philippines, Cebu is insisting to see dynamic performance in attracting increased number of tourists seeking for medical help.
"As long as the United States, will still charge expensive medical services, we are seeing steady growth of medical tourists in Cebu," said Tuason. Ehda M. Dagooc
“Our first target is to attract all Filipinos around the world to avail of the ‘best’ health and wellness services we have here,” said Nelia F. Navarro, Department of Trade and Industry (DTI-Cebu Provincial Office) provincial director.
Navarro said since it is still hard to convince foreigners to consider the Philippines, specifically Cebu as health and wellness destination, the International Filipino communities around the world are, by now, the best tool for promotion.
Navarro said Cebu medical institutions, as well as wellness facilities have been ready to accommodate the more sophisticated market, like Americans and Europeans, seeking for medical help, and total package for wellness vacations.
The Philippines, she said is closely competing with Thailand, India, Singapore and Malaysia, apparently these countries are attracting significant number of health and wellness enthusiast tourists, or the medical tourists.
In Asia, medical tourism has raked US$120 billion in revenues for 2006, a big improvement from US$40 billion it earned in 2000. India is now the number one destination for medical tourists around the world.
Total package for one medical tourist, is pegged at US$28,000, depending on medical procedure, this already include accommodation, vacation package among others.
Every medical tourist can save at least US$77,000 for this amount, if they were to have their medical services done in other countries like Europe or United States.
Aside from vanity and dental services, medical tourists, including Balikbayans are also availing other medical services such as cardiac surgery, executive check up, MRI, CT Scan.
CHWC president Oscar Tuason earlier said that although the world economic turbulence has brought about jittery of slowdown in the medical tourism sector in the Philippines, Cebu is insisting to see dynamic performance in attracting increased number of tourists seeking for medical help.
"As long as the United States, will still charge expensive medical services, we are seeing steady growth of medical tourists in Cebu," said Tuason. Ehda M. Dagooc
Landco exceeds target by 11% despite crisis
CEBU, Philippines - Amid the gloomy backdrop brought about by the global economic crisis, one of the country’s largest real estate developers Landco Pacific Corporation exceeded its sales target for the first six months of this year, by 11 percent.
In a statement, Landco reported that it registered above target sales of P1.949 billion, P196 million more than its P1.753 billion target for the first half of the year, driven by strong sales of its real estate developments in Visayas and Mindanao.
Sales in Visayas and Mindanao rose to P497 million, P128 million higher or 35 percent than its P368 million target, due to good sales performance of leisure, urban and hometown developments.
In other categories, sales of Landco’s leisure developments increased to P427 million while sales of memorial parks rose to P287 million, exceeding their combined target of P561 million by P153 million or 27 percent.
Landco’s prime projects in the Vis-Min area include Monterazzas de Cebu, a premier mountainside residential community in Guadalupe, Cebu City; Playa Azalea, a seaside commercial and residential enclave in Samal Island, Davao del Norte; and Woodridge Garden Village in Zamboanga City, a resort-like residential subdivision. Its memorial parks are Forest Lake parks in Iloilo, Zamboanga, Davao, General Santos, Cagayan de Oro, San Fernando, La Union and Binan, Laguna.
Landco president Alfred Xerez-Burgos III said that the company is bent on completing all ongoing projects.
“Coupled with the improving global economy, the completion of these projects will provide Landco better opportunity to further boost sales,” he said.
Xerez-Burgos III said the continued positive sales performance of Landco developments shows that people still put high premium on quality “life at your leisure” living.
“This also shows that the market continues to trust and value what Landco developments offer to its homeowners,” he said. Xerez-Burgos III further shared, “At this point in time, when those who have money to invest may be afraid to put it in riskier vehicles, real estate becomes the safer investment—it’s a tangible asset that won’t go anywhere and will surely appreciate—plus, it is an investment that can be used, experienced and enjoyed.”
Landco Pacific Corporation is the developer of high-end leisure, urban, and hometown communities.
For 19 years, the company has made its mark in Philippine real estate, and is widely acknowledged to be the leader in leisure development. As the purveyor of resort living experiences, Landco is committed to consistently create innovative and outstanding lifestyle products that revolutionize the way of life.
In Cebu, the company is developing a 220-hectare prime hillside estates for high-end residential development called Monterazzas de Cebu. The P10 billion integrated project is expected to be completed in the next few years.
In a statement, Landco reported that it registered above target sales of P1.949 billion, P196 million more than its P1.753 billion target for the first half of the year, driven by strong sales of its real estate developments in Visayas and Mindanao.
Sales in Visayas and Mindanao rose to P497 million, P128 million higher or 35 percent than its P368 million target, due to good sales performance of leisure, urban and hometown developments.
In other categories, sales of Landco’s leisure developments increased to P427 million while sales of memorial parks rose to P287 million, exceeding their combined target of P561 million by P153 million or 27 percent.
Landco’s prime projects in the Vis-Min area include Monterazzas de Cebu, a premier mountainside residential community in Guadalupe, Cebu City; Playa Azalea, a seaside commercial and residential enclave in Samal Island, Davao del Norte; and Woodridge Garden Village in Zamboanga City, a resort-like residential subdivision. Its memorial parks are Forest Lake parks in Iloilo, Zamboanga, Davao, General Santos, Cagayan de Oro, San Fernando, La Union and Binan, Laguna.
Landco president Alfred Xerez-Burgos III said that the company is bent on completing all ongoing projects.
“Coupled with the improving global economy, the completion of these projects will provide Landco better opportunity to further boost sales,” he said.
Xerez-Burgos III said the continued positive sales performance of Landco developments shows that people still put high premium on quality “life at your leisure” living.
“This also shows that the market continues to trust and value what Landco developments offer to its homeowners,” he said. Xerez-Burgos III further shared, “At this point in time, when those who have money to invest may be afraid to put it in riskier vehicles, real estate becomes the safer investment—it’s a tangible asset that won’t go anywhere and will surely appreciate—plus, it is an investment that can be used, experienced and enjoyed.”
Landco Pacific Corporation is the developer of high-end leisure, urban, and hometown communities.
For 19 years, the company has made its mark in Philippine real estate, and is widely acknowledged to be the leader in leisure development. As the purveyor of resort living experiences, Landco is committed to consistently create innovative and outstanding lifestyle products that revolutionize the way of life.
In Cebu, the company is developing a 220-hectare prime hillside estates for high-end residential development called Monterazzas de Cebu. The P10 billion integrated project is expected to be completed in the next few years.
Thursday, September 17, 2009
AboitizLand to pour P2B on more housing projects
By Ehda M. Dagooc (The Freeman) Updated September 18, 2009 12:00 AM
CEBU, Philippines - Bullish about Cebu’s real estate market, property developer Aboitiz Land Inc. will be spending P2 billion next year on more residential projects in Cebu as well as expansions of its existing developments.
AboitizLand president Andoni Aboitiz said that the company just closed a deal to acquire a 15-hectare property at Cordova on Mactan Island, for the establishment of another middle-range subdivision, the first development of AboitizLand located in Mactan.
Bigger chunk of the capital expenditure (capex) allocated for 2010 will be poured on the expansion of its City-based condominium project called “Persimmon”, as the company will spend about P400 million for the construction of each tower.
Aboitiz said the company is on the constant look out for available land for other projects, especially for condominium developments, as it has seen a strong take up of condominium units in Cebu since the company offered the Tower 1 units to the market.
Part of the expenditure will also be used to construct the commercial segment of its high-end residential project in Talamban—the Pristina North, including the Town Houses component of the chic subdivision.
AboitizLand’s middle-range subdivision project in the Southern part of the City, Kishanta, will also be expanded next year, as take up sales is also strong, he said.
The company expects to complete all the 628 condominium units at 1.4 hectare Persimmon project located in Mabolo area, Aboitiz said.
“[We noted] good uptake of [real estate] sales especially in condominium market. Some years ago we made judgment call that Cebuanos will embrace condo living,” Aboitiz said adding that today, the condo market is hitting very strongly and he projects a more competitive market in the next few years.
“We are studying some areas and good properties [around Metro Cebu] for our future condominium development projects,” he said in an interview on the sidelines of the launching of the 15-story Persimmon North Tower that will offer another 157 condo units.
Last year, AboitizLand Inc. spent P2.3 billion in for projects it started in 2008, including Persimmon, iMEZ project at the Mactan Export Zone (MEZ-2), Kishanta expansion, among others.
According to Aboitiz, the company will be spending more on condominium developments in the next few years, as soon as it can spot good location for its next condo project.
The Persimmon is the company’s 15th project. It has realized “impressive” uptake attributed to its combination of strategic location, excellent amenities and value-for-money construction.
For its Tower 1, surprisingly, 80 percent of the buyers are local residents in Cebu, 10 percent international Filipino market, and seven percent foreigners.
CEBU, Philippines - Bullish about Cebu’s real estate market, property developer Aboitiz Land Inc. will be spending P2 billion next year on more residential projects in Cebu as well as expansions of its existing developments.
AboitizLand president Andoni Aboitiz said that the company just closed a deal to acquire a 15-hectare property at Cordova on Mactan Island, for the establishment of another middle-range subdivision, the first development of AboitizLand located in Mactan.
Bigger chunk of the capital expenditure (capex) allocated for 2010 will be poured on the expansion of its City-based condominium project called “Persimmon”, as the company will spend about P400 million for the construction of each tower.
Aboitiz said the company is on the constant look out for available land for other projects, especially for condominium developments, as it has seen a strong take up of condominium units in Cebu since the company offered the Tower 1 units to the market.
Part of the expenditure will also be used to construct the commercial segment of its high-end residential project in Talamban—the Pristina North, including the Town Houses component of the chic subdivision.
AboitizLand’s middle-range subdivision project in the Southern part of the City, Kishanta, will also be expanded next year, as take up sales is also strong, he said.
The company expects to complete all the 628 condominium units at 1.4 hectare Persimmon project located in Mabolo area, Aboitiz said.
“[We noted] good uptake of [real estate] sales especially in condominium market. Some years ago we made judgment call that Cebuanos will embrace condo living,” Aboitiz said adding that today, the condo market is hitting very strongly and he projects a more competitive market in the next few years.
“We are studying some areas and good properties [around Metro Cebu] for our future condominium development projects,” he said in an interview on the sidelines of the launching of the 15-story Persimmon North Tower that will offer another 157 condo units.
Last year, AboitizLand Inc. spent P2.3 billion in for projects it started in 2008, including Persimmon, iMEZ project at the Mactan Export Zone (MEZ-2), Kishanta expansion, among others.
According to Aboitiz, the company will be spending more on condominium developments in the next few years, as soon as it can spot good location for its next condo project.
The Persimmon is the company’s 15th project. It has realized “impressive” uptake attributed to its combination of strategic location, excellent amenities and value-for-money construction.
For its Tower 1, surprisingly, 80 percent of the buyers are local residents in Cebu, 10 percent international Filipino market, and seven percent foreigners.
Tuesday, September 15, 2009
Sustainability at forefront (The Philippine Star) Updated August 07, 2009 12:00 AM
Public spaces radiate from the Welcome Pavilion, allowing visitors to enjoy the site’s natural beauty.
MANILA, Philippines - Sustainable building, a practice once deemed as unprofitable and utopian, is now emerging as a powerful force.
Rising energy costs and increased awareness about global warming helped catapult green building into the consciousness of the public. And the leading developer in the country, Ayala Land Premier has committed to a vigorous and progressive sustainability program exemplified in their first seaside residential leisure community, Anvaya Cove.
“From its inception, respect for and sensitivity to the environment has been ingrained into the vision for Anvaya Cove,” says Melissa Gil, head of residential buildings and leisure “With the help of our partners and several collaborators, this vision has now come to fruition. With a masterplan that followed the lay of the land, roads rise and fall and curve follow the natural contour of the site. An allocation of 30% green buffers within the entire development and 30% open space – which includes parks, easements, and roadways — within the neighborhoods has been allocated so that we are able to preserve natural habitats and ecosystems.
For inquiries on Anvaya Cove, call 841-5769, email ask@ayalalandpremier.com or visit http://www.ayalalandpremier.com/. Interested parties may visit the Seascape Ridge model house by appointment on site. You may also visit Anvaya Cove’s marketing showroom located at the Ground Floor Greenbelt 2 Park (near Italianni’s), Ayala Center, and Makati.
Condo living redefined
MANILA, Philippines - For the single professional or the startup family, the many vertical mid-to-high-rise residential developments that now dot the landscape of the metropolis offer an alternative lifestyle marked by conveniences one will not enjoy from more traditional living quarters. Moreover, condo living is less expensive than buying land and building your home from the ground up.
Still, not a few view condos with reservation, primarily due to preconceived notions that condo living is a glorified version of living in a bunker, an impression that some real-estate developers have not helped with their boxy vertical developments and their cramped spaces.
Then again, there is Woodsville Viverde Mansions, an upcoming gated community in Merville, Parañaque, master-planned by premier real-estate developer Robinsons Land Corp., which redefines condo living for single professionals and startup families with compelling features, not the least of which is the fact that 70 percent of the entire development has been left open.
Within this expanse of space, seven distinct enclaves for wellness and leisure have been created, including Nirvana Cove, which provides residents with a peaceful sanctuary; Poet’s Nook for getting in touch with one’s inner poet; Nature’s Orchestra, with its Greek-inspired gardens, mini amphitheater and butterfly cage; Fitness Cove, for badminton and other fun ways to sweat it up to good health; Fun Park, for endless kiddie play time; Picnic Grove, with its fruit-bearing trees for family bonding; and The Oasis, with its Mediterranean-inspired clubhouse and beach-type swimming pools.
And, of course, there is The Village Mall, which now houses Robinsons Supermarket, David’s Salon, Mercury Drug and Dental Clinic.
All these add to the exceptional experience of living in Woodsville Viverde Mansions, whose units-whether studio, two-bedroom or three-bedroom layouts-offer the space and the built-in facilities/amenities from which the single professional or the startup family can readily create a home in the truest sense of the word.
For more information, contact 683-3101, 636-0888 or 0922-838-0888, e-mail properties@robinsonsland.com, visit www.woodsville.com.ph.
Still, not a few view condos with reservation, primarily due to preconceived notions that condo living is a glorified version of living in a bunker, an impression that some real-estate developers have not helped with their boxy vertical developments and their cramped spaces.
Then again, there is Woodsville Viverde Mansions, an upcoming gated community in Merville, Parañaque, master-planned by premier real-estate developer Robinsons Land Corp., which redefines condo living for single professionals and startup families with compelling features, not the least of which is the fact that 70 percent of the entire development has been left open.
Within this expanse of space, seven distinct enclaves for wellness and leisure have been created, including Nirvana Cove, which provides residents with a peaceful sanctuary; Poet’s Nook for getting in touch with one’s inner poet; Nature’s Orchestra, with its Greek-inspired gardens, mini amphitheater and butterfly cage; Fitness Cove, for badminton and other fun ways to sweat it up to good health; Fun Park, for endless kiddie play time; Picnic Grove, with its fruit-bearing trees for family bonding; and The Oasis, with its Mediterranean-inspired clubhouse and beach-type swimming pools.
And, of course, there is The Village Mall, which now houses Robinsons Supermarket, David’s Salon, Mercury Drug and Dental Clinic.
All these add to the exceptional experience of living in Woodsville Viverde Mansions, whose units-whether studio, two-bedroom or three-bedroom layouts-offer the space and the built-in facilities/amenities from which the single professional or the startup family can readily create a home in the truest sense of the word.
For more information, contact 683-3101, 636-0888 or 0922-838-0888, e-mail properties@robinsonsland.com, visit www.woodsville.com.ph.
Heeding the call towards sustainability
The Evoliving Center by the lake stands as symbol of Ayala Land’s pursuit of sustainability in Nuvali as nation’s largest eco-community.
MANILA, Philippines - In today’s times, it is becoming more and more important for companies to not only innovate, but to creatively innovate with sustainability in mind. The real estate industry is making a move to be in the forefront of this by providing improved and sustainable use of the environment for home and work-life settings.
Joselito N. Luna, chief architect and group head of Ayala Land’s Innovation and Design Group, shares how the country’s most trusted real estate company saw many years back, the vital need to plan and put in new features for sustainability.
“Ayala Land has a long history of responsible development. Care for the land has been in the company’s DNA long before sustainability became a buzzword. Tree preservation, waste water treatment, preserving and creating open spaces and bio habitats, designing with nature, developing pedestrian-friendly settings have been characteristic features of ALI projects for many years. During the period leading to global awakening for the need to address climate change and advance green living, Ayala Land was already doing its homework in mapping out creative design solutions for its residential, mall, office building, and mixed-use developments. Today, the inroads that create impact to our commitment in building sustainable master-planned communities are present in the new Ayala Land projects,” Luna states.
Victor B. Ahorro, Ayala Land Businesscapes senior division manager, cites the U.P.-Ayala Land TechnoHub, where business locators benefit from a highly efficient district cooling facility to reduce their air-conditioning costs. The centralized air-conditioning system is fitted with automated technology which allows individual control by the building occupants, thereby allowing further reduction of energy costs, and also enhancing indoor environment quality. “No room should be too cold nor too warm for its occupants. And, if a particular area needs to work overtime, there is no need to turn on the air-conditioning for the entire floor or building,” he explains.
Quality lifestyle as promised
MANILA, Philippines - People who want to live in a quality medium-rise condominium located in a bustling metropolis do not need to go farther as PHINMA Properties announced that the 11-storey TREVI Bldg. of Fountain Breeze is now ready for occupancy.
Willie Joven Uy, PHINMA Properties president and chief executive officer said, that TREVI is a milestone for the company because it’s the first elevator condominium building done by the company, an indication that the company has the capability to adjust to the market demands.
“The completion of Trevi, followed by the launching of Bellagio, the 2nd high-rise bldg in Fountain Breeze signifies the versatility of PHINMA Properties – starting from horizontal development to the first medium-rise development that is complemented by a rationally-planned development,” said Uy.
According to Uy, rational planning is part and parcel of every PHINMA Properties’ project. Uy stressed that the company has factored all the elements into building a total community. Aside from the basic residential units, it also builds all the necessary facilities to provide the comfort, security and convenience of modern living.
Further, the “In-City” development is another aspect of PHINMA Properties’ style which aims to maximize land use and reduce the cost of development.
Uy said the Trevi and Bellagio Tower will serve as the answer to the needs of people living south of Makati for affordable and quality condominiums. He added the entry of PHINMA Properties has been timely as Paranaque City has not been given importance by developers in the past.
Aside from the strategic location between the Makati and the Alabang/Filinvest growth area, Uy said the proximity to the Ninoy Aquino International Airport has made Paranaque an attractive site for property development to serve an untapped market niche.
In another major announcement for Fountain Breeze, Grant Orbeta, PHINMA Properties vice-president for Marketing and Sales announced that new walk-up phases of Fountain Breeze composed of four villas will be finished by the end of the year. The completion according to Orbeta, is a good indication that the walk-up condo market is still popular among the affordable market.
“By the end of the year, we are ready to offer more units for those people who prefer the walk-up condos which have gotten a warm response from the market,” said Orbeta.
Willie Joven Uy, PHINMA Properties president and chief executive officer said, that TREVI is a milestone for the company because it’s the first elevator condominium building done by the company, an indication that the company has the capability to adjust to the market demands.
“The completion of Trevi, followed by the launching of Bellagio, the 2nd high-rise bldg in Fountain Breeze signifies the versatility of PHINMA Properties – starting from horizontal development to the first medium-rise development that is complemented by a rationally-planned development,” said Uy.
According to Uy, rational planning is part and parcel of every PHINMA Properties’ project. Uy stressed that the company has factored all the elements into building a total community. Aside from the basic residential units, it also builds all the necessary facilities to provide the comfort, security and convenience of modern living.
Further, the “In-City” development is another aspect of PHINMA Properties’ style which aims to maximize land use and reduce the cost of development.
Uy said the Trevi and Bellagio Tower will serve as the answer to the needs of people living south of Makati for affordable and quality condominiums. He added the entry of PHINMA Properties has been timely as Paranaque City has not been given importance by developers in the past.
Aside from the strategic location between the Makati and the Alabang/Filinvest growth area, Uy said the proximity to the Ninoy Aquino International Airport has made Paranaque an attractive site for property development to serve an untapped market niche.
In another major announcement for Fountain Breeze, Grant Orbeta, PHINMA Properties vice-president for Marketing and Sales announced that new walk-up phases of Fountain Breeze composed of four villas will be finished by the end of the year. The completion according to Orbeta, is a good indication that the walk-up condo market is still popular among the affordable market.
“By the end of the year, we are ready to offer more units for those people who prefer the walk-up condos which have gotten a warm response from the market,” said Orbeta.
Condo amenities and you
Celadon Park’s integrated leisure club facilities address the relaxation and recreation needs of its residents through facilities like meditation gardens, swimming pools, massage cabanas, lounging areas, and extensive gym facilities, evoke a sense of well-being.
MANILA, Philippines - Having an assortment of amenities available to residents all the time have become synonymous to condo living. However, having the most doesn’t always mean having what you need. So the question now is: How would you know if a condominium’s set of amenities is the right one for you?
Celadon Manila’s division manager for project development of Alveo Land, Rufino Gutierrez says that a person’s lifestyle can easily determine the type of amenities one needs. “Take this for example, condominium unit buyers used to be in their 40s and 50s, but right now buyers are young professionals 30-40. As developers, we have to fit the amenities we offer here at Celadon Park to their needs.”
Celadon Park, developed by Alveo Land, an Ayala Land company, is a vibrant residential condominium community for urban achievers located inside the largest integrated community in the city, Celadon Manila. It offers leisure club amenities to its residents that address their relaxation and recreation needs which Gutierrez explains, are further categorized into the three major lifestyles that Celadon Park residents’ lead which are active, laid-back and interactive.
Alveo Land recognizes the increased awareness of living an active lifestyle among urban achievers who are now getting out of their couches and are engaging in daily exercise to keep in shape as part of their daily routine.
MANILA, Philippines - Having an assortment of amenities available to residents all the time have become synonymous to condo living. However, having the most doesn’t always mean having what you need. So the question now is: How would you know if a condominium’s set of amenities is the right one for you?
Celadon Manila’s division manager for project development of Alveo Land, Rufino Gutierrez says that a person’s lifestyle can easily determine the type of amenities one needs. “Take this for example, condominium unit buyers used to be in their 40s and 50s, but right now buyers are young professionals 30-40. As developers, we have to fit the amenities we offer here at Celadon Park to their needs.”
Celadon Park, developed by Alveo Land, an Ayala Land company, is a vibrant residential condominium community for urban achievers located inside the largest integrated community in the city, Celadon Manila. It offers leisure club amenities to its residents that address their relaxation and recreation needs which Gutierrez explains, are further categorized into the three major lifestyles that Celadon Park residents’ lead which are active, laid-back and interactive.
Alveo Land recognizes the increased awareness of living an active lifestyle among urban achievers who are now getting out of their couches and are engaging in daily exercise to keep in shape as part of their daily routine.
Tuesday, September 8, 2009
Nexus launches three new projects in Cebu
Eyeing a growing demand for housing, a new player in Cebu’s property development industry recently launched three new projects that target the middle to high-end segments of the market.
Since its inception in 2001, Nexus Real Estate Corporation has established its reputation by selling subdivided lots and building house and lots in several of Cebu City’s prominent subdivisions.
And with a string of successful projects, Nexus Real Estate continues its mark as a reputable developer with three new projects composed of Kamalaya Residences, Cypress Point Townhouses, and the Villagio de Dolce Vita.
Kamalaya Residences is composed of exclusive 31 one-storey and two-storey houses ideal for new families from the middle cost market with unit prices that ranges from P1.5 to P2.5 million
This exclusive Eden is close to the South Reclamation Project (SRP), church, schools and similar institutions and has ready water and electricity connections, said Shanna Louise Te Lopez, VP for Sales and Marketing of Nexus Real Estate Corporation.
Villagio de Dolce Vita on the other hand is a relaxing, two-hectare community that captures countryside charm with town homes nestled amid the lush greenery of San Fernando.
Lopez said that The Villagio is composed of 300 units worth below one million as it aims to provide affordable housing to prospective clientele who hopes to establish their dream homes in the South.
While the Cypress Point Townhouses aims to capture the higher end of the market with 13 units that will showcase the first of its kind Southern Miami architectural design here in the country, said Lopez.
The exclusive townhouses in Cypress Point, located in Paknaan, Mandaue will be priced from five million to six million pesos, she said.
Lopez announced that all these new developments will be delivered by 2009 and this month they will already start with the ground breaking and the construction of Kamalaya Residences.
Nexus Real Estate’s portfolio of completed residential projects include the Pacific Village, Consolacion Valley, Roseville and among others.
The company is in between socialized housing players and high end developers as they focus on providing housing to the middle market composed of overseas Filipino workers and their families, start-up families and young executives.
Lopez said that the three new projects that they have shows their bullishness with Cebu’s property industry amidst the glooming crises.
She said that people may be holding on to their money right now considering the effects of lowered consumer spending, but their company believes that investments in housing are basic needs of people.
Being a new and a smaller player, Nexus Real Estate hopes to position itself as an affordable and quality-conscious developer, said Lopez.
“We are committed to developing secure and premium housing communities that people of varied lifestyles call home as we want to ensure total customer satisfaction. We are very bullish in our developments because we know that people needs a house so we will be continuously looking out for more lots to be acquired to build homes that people can own,” she said.
Nexus Real Estate is under the Urban Investor Group of Companies, engaged in lending, real estate and financing. Among its affiliated companies include Urban Investor Inc., Blue Mountain Financing Corp., RTL Enterprises, Pacific Pensionne, First Happy Rice People Company, WT Construction and JVT Enterprises. —Rhia de Pablo
Since its inception in 2001, Nexus Real Estate Corporation has established its reputation by selling subdivided lots and building house and lots in several of Cebu City’s prominent subdivisions.
And with a string of successful projects, Nexus Real Estate continues its mark as a reputable developer with three new projects composed of Kamalaya Residences, Cypress Point Townhouses, and the Villagio de Dolce Vita.
Kamalaya Residences is composed of exclusive 31 one-storey and two-storey houses ideal for new families from the middle cost market with unit prices that ranges from P1.5 to P2.5 million
This exclusive Eden is close to the South Reclamation Project (SRP), church, schools and similar institutions and has ready water and electricity connections, said Shanna Louise Te Lopez, VP for Sales and Marketing of Nexus Real Estate Corporation.
Villagio de Dolce Vita on the other hand is a relaxing, two-hectare community that captures countryside charm with town homes nestled amid the lush greenery of San Fernando.
Lopez said that The Villagio is composed of 300 units worth below one million as it aims to provide affordable housing to prospective clientele who hopes to establish their dream homes in the South.
While the Cypress Point Townhouses aims to capture the higher end of the market with 13 units that will showcase the first of its kind Southern Miami architectural design here in the country, said Lopez.
The exclusive townhouses in Cypress Point, located in Paknaan, Mandaue will be priced from five million to six million pesos, she said.
Lopez announced that all these new developments will be delivered by 2009 and this month they will already start with the ground breaking and the construction of Kamalaya Residences.
Nexus Real Estate’s portfolio of completed residential projects include the Pacific Village, Consolacion Valley, Roseville and among others.
The company is in between socialized housing players and high end developers as they focus on providing housing to the middle market composed of overseas Filipino workers and their families, start-up families and young executives.
Lopez said that the three new projects that they have shows their bullishness with Cebu’s property industry amidst the glooming crises.
She said that people may be holding on to their money right now considering the effects of lowered consumer spending, but their company believes that investments in housing are basic needs of people.
Being a new and a smaller player, Nexus Real Estate hopes to position itself as an affordable and quality-conscious developer, said Lopez.
“We are committed to developing secure and premium housing communities that people of varied lifestyles call home as we want to ensure total customer satisfaction. We are very bullish in our developments because we know that people needs a house so we will be continuously looking out for more lots to be acquired to build homes that people can own,” she said.
Nexus Real Estate is under the Urban Investor Group of Companies, engaged in lending, real estate and financing. Among its affiliated companies include Urban Investor Inc., Blue Mountain Financing Corp., RTL Enterprises, Pacific Pensionne, First Happy Rice People Company, WT Construction and JVT Enterprises. —Rhia de Pablo
Cebu apparel leader eyes more brand acquisitions
(The Freeman) Updated July 10, 2009 12:00 AM
CEBU, Philippines – Cebu-based apparel giant Golden ABC Inc., plans more brand acquisitions in the next few years, to expand its business and maximize its expertise in clothing retail industry.
After its acquisition of 20 year-old apparel brand Regatta, Golden ABC Inc., president and chief executive officer (CEO) Bernie Liu said the company is on constant dialogue with existing local brands, including foreign names.
However, Liu said Golden ABC is not rushing its bid for more acquisitions, while the economy is still very fragile.
Golden ABC Inc., the maker of known apparel brands like Penshoppe, For Me, Memo, Oxygen, and now Regatta, is one of the largest, if not the largest apparel maker in the country.
Liu said in the next couple of years, the company may start to apply as brand-licensee for known foreign apparel brands. He however, refused to divulge the foreign apparel brands that the company is eyeing upon.
According to Liu, the apparel retail business is still a promising trade in the country, as it has proven to be very resilient, even though it has gone through a series of crises and challenging economic environment, including globalization.
In fact, Liu said the company is now on its aggressive mode to expand its direct-selling arm known as “Red Logo”, which already has over 20 thousand active members and dealers nationwide.
The company entered into the promising direct selling market in the Philippines April of last year. It started in Metro Manila and is now set to open its first distribution center in Cebu this month.
The Cebu “Red Logo” center is the 6th distribution facility nationwide, Liu said. The direct selling arm carries different in-house brands namely; Fuel, Agenda, Truth and Hush (for its underwear line).
Red Logo, has started to compete head-on with seasoned direct selling names like Avon, SaraLee, Natasha, among others.
“Direct selling business will always do well during crisis. It will also give business to the dealers, for sideline income,” he said. — Ehda M. Dagooc
CEBU, Philippines – Cebu-based apparel giant Golden ABC Inc., plans more brand acquisitions in the next few years, to expand its business and maximize its expertise in clothing retail industry.
After its acquisition of 20 year-old apparel brand Regatta, Golden ABC Inc., president and chief executive officer (CEO) Bernie Liu said the company is on constant dialogue with existing local brands, including foreign names.
However, Liu said Golden ABC is not rushing its bid for more acquisitions, while the economy is still very fragile.
Golden ABC Inc., the maker of known apparel brands like Penshoppe, For Me, Memo, Oxygen, and now Regatta, is one of the largest, if not the largest apparel maker in the country.
Liu said in the next couple of years, the company may start to apply as brand-licensee for known foreign apparel brands. He however, refused to divulge the foreign apparel brands that the company is eyeing upon.
According to Liu, the apparel retail business is still a promising trade in the country, as it has proven to be very resilient, even though it has gone through a series of crises and challenging economic environment, including globalization.
In fact, Liu said the company is now on its aggressive mode to expand its direct-selling arm known as “Red Logo”, which already has over 20 thousand active members and dealers nationwide.
The company entered into the promising direct selling market in the Philippines April of last year. It started in Metro Manila and is now set to open its first distribution center in Cebu this month.
The Cebu “Red Logo” center is the 6th distribution facility nationwide, Liu said. The direct selling arm carries different in-house brands namely; Fuel, Agenda, Truth and Hush (for its underwear line).
Red Logo, has started to compete head-on with seasoned direct selling names like Avon, SaraLee, Natasha, among others.
“Direct selling business will always do well during crisis. It will also give business to the dealers, for sideline income,” he said. — Ehda M. Dagooc
Developer eyes socialized housing projects for Cebu
(The Freeman) Updated April 03, 2009 12:00 AM
CEBU, Philippines - Cebuano residential developer CLS Properties Inc. is looking at providing socialized housing products for Cebu to cater the less ventured market for less than P2 million house and lot package.
CLS Properties Inc., the developer of several pocket subdivisions in Metro Cebu, will soon offer socialized housing projects, specifically in Mactan, Minglanilla, and Mandaue areas.
CLS chairman Cesar L. Salimbangon said that simultaneous with the company’s thrust to aggressively invest into middle-income residential projects, the company will also give opportunities for families with limited income to own a house through offering socialized yet of quality housing units. In this way, the company could take advantage of the big market that could afford to pay easy monthly amortization.
Although becoming an urbanized city, Cebu still has good market for these kinds of projects, Salimbangon said. In fact, CLS recently launched its latest pocket-subdivision, the 1,000 square-meter Cielo e Terra in Capitol Hills, Cebu City.
Aside from Cielo e Terra, the company has also started several pocket housing projects in Cebu including two separate projects called East Ridge Residences, both in Mactan Island (Basak and So-ong areas), Green Valley in Cebu City, Pereville Subdivision in Mandaue City, and Matilde Condominium project in Ramos. All these projects are in partnership with property owners.
In the next few months, Salimbangon said the company is going to build more affordable house and lot products as its way of providing decent home living among average earners.
At present, the company is marketing some of their existing middle-range residential projects that capture the interest of middle-income earners, including bulk of OFW-funded purchases.
CLS is one of the pioneering developers that ventured into subdivision developments in far-flung towns in Cebu, such as the Solid Homes Subdivision in
CEBU, Philippines - Cebuano residential developer CLS Properties Inc. is looking at providing socialized housing products for Cebu to cater the less ventured market for less than P2 million house and lot package.
CLS Properties Inc., the developer of several pocket subdivisions in Metro Cebu, will soon offer socialized housing projects, specifically in Mactan, Minglanilla, and Mandaue areas.
CLS chairman Cesar L. Salimbangon said that simultaneous with the company’s thrust to aggressively invest into middle-income residential projects, the company will also give opportunities for families with limited income to own a house through offering socialized yet of quality housing units. In this way, the company could take advantage of the big market that could afford to pay easy monthly amortization.
Although becoming an urbanized city, Cebu still has good market for these kinds of projects, Salimbangon said. In fact, CLS recently launched its latest pocket-subdivision, the 1,000 square-meter Cielo e Terra in Capitol Hills, Cebu City.
Aside from Cielo e Terra, the company has also started several pocket housing projects in Cebu including two separate projects called East Ridge Residences, both in Mactan Island (Basak and So-ong areas), Green Valley in Cebu City, Pereville Subdivision in Mandaue City, and Matilde Condominium project in Ramos. All these projects are in partnership with property owners.
In the next few months, Salimbangon said the company is going to build more affordable house and lot products as its way of providing decent home living among average earners.
At present, the company is marketing some of their existing middle-range residential projects that capture the interest of middle-income earners, including bulk of OFW-funded purchases.
CLS is one of the pioneering developers that ventured into subdivision developments in far-flung towns in Cebu, such as the Solid Homes Subdivision in
Go Forth and Network
ONE STEP UP By Chris Tio (The Freeman) Updated July 24, 2009 12:00 AM
I get a lot of feedback from readers thru email and most recently, thru Facebook. I really appreciate it when readers take the effort to communicate and share their reactions with me. It helps to know what people are thinking and what their opinions are. It helps me to also define the direction of this column to best suit the reader’s needs. Thank you for that.
I get surprised sometimes by the wide variety of feedback as well as the different professions and backgrounds of those that do. I have one particular reader that stands out. She works for the Government. Lillian is connected with the Bureau of Internal Revenue. She wrote me once to tell me that she follows my column. Lillian also wrote to ask if she could share her own thoughts and insights based on her readings, which could also help other readers out.
Recently, Lillian sent me an email on the importance of networking in finding a job and for promoting business. I would like to reprint what she sent me, as it is very helpful especially for young people looking for their first job. Here are the Lillian’s tips:
“First, Circulate. Talk to people. Be where when you can meet a lot of people. Attend conventions, seminars, meetings which are related to your work. Introduce yourself to many people. But it doesn’t mean that you will talk and mingle only with people in your line of work. Mingle with others, too. You will meet these helpful persons everywhere--- the beach, at the park, in the church, in the supermarket. The point is to be acquainted with lots of people. New acquaintances that you meet can open golden chances for you.
Second, Send a letter to the manager of the firm you are interested in. Make the letters as irresistible as possible. So you will not be denied the appointment you greatly desire and express admiration for the person you are writing to.
Another clever idea is to stay in touch with people you know. Let them know you are still around and eager to make the line of communication open. When you are on vacation, send them card and notes. When someone gives you a favor, send a thank-you note immediately. These gestures will not be forgotten. Don’t ever disregard that small, nice touch. It is central to your success.
You may also request referrals. Referrals play a vital role in one’s career. Through three referrals, the networking widens, which leads to more contacts. Remember, no man is an island, you need other people, to survive and succeed.
You may also join organizations where you are sure to meet lots of people. Give calling cards with your address and phone numbers and state your line of work.
Get rid of your shyness. Build up that self-confidence, fast. Sometimes, you fail in an endeavor due to a feeling of insecurity. Instead of going directly to a prospective client, you back out due to feeling of inadequacy, to handle that situation. Smart women know that timidity has no place in effective networking.”
Lillian concludes by writing, “ Networking is reciprocal . You do things for others and they also do good things for you. And there is no such things as useless contact. Even if real benefits are not yet apparent, something will crop up sooner or later. Take good care of all your contacts, everyday of your life, add more to the network, especially if you are looking for a good job. Many people get their jobs through this networking, a powerful strategy to reach your goals and dreams.”
Thank you Lillian for caring enough to share with us your thoughts. A lot of us are familiar with the saying, “Its who you know that makes a difference.” That alone shows the value of networking. I want to share what Bob Burg added to that, he thoughtfully said, “It isn't just what you know, and it isn't just who you know. It's actually who you know, who knows you, and what you do for a living.”
Let’s follow the examples of these ordinary individuals as they strive to make a difference. Each week, lets all get together and share knowledge, stories, experiences, information, all for the sole purpose of getting One Step Up.
For comments, suggestions or stories that you want to share, email me at stirspecialist@gmail.com, or visit www.stirspecialist.blogspot.com
I get a lot of feedback from readers thru email and most recently, thru Facebook. I really appreciate it when readers take the effort to communicate and share their reactions with me. It helps to know what people are thinking and what their opinions are. It helps me to also define the direction of this column to best suit the reader’s needs. Thank you for that.
I get surprised sometimes by the wide variety of feedback as well as the different professions and backgrounds of those that do. I have one particular reader that stands out. She works for the Government. Lillian is connected with the Bureau of Internal Revenue. She wrote me once to tell me that she follows my column. Lillian also wrote to ask if she could share her own thoughts and insights based on her readings, which could also help other readers out.
Recently, Lillian sent me an email on the importance of networking in finding a job and for promoting business. I would like to reprint what she sent me, as it is very helpful especially for young people looking for their first job. Here are the Lillian’s tips:
“First, Circulate. Talk to people. Be where when you can meet a lot of people. Attend conventions, seminars, meetings which are related to your work. Introduce yourself to many people. But it doesn’t mean that you will talk and mingle only with people in your line of work. Mingle with others, too. You will meet these helpful persons everywhere--- the beach, at the park, in the church, in the supermarket. The point is to be acquainted with lots of people. New acquaintances that you meet can open golden chances for you.
Second, Send a letter to the manager of the firm you are interested in. Make the letters as irresistible as possible. So you will not be denied the appointment you greatly desire and express admiration for the person you are writing to.
Another clever idea is to stay in touch with people you know. Let them know you are still around and eager to make the line of communication open. When you are on vacation, send them card and notes. When someone gives you a favor, send a thank-you note immediately. These gestures will not be forgotten. Don’t ever disregard that small, nice touch. It is central to your success.
You may also request referrals. Referrals play a vital role in one’s career. Through three referrals, the networking widens, which leads to more contacts. Remember, no man is an island, you need other people, to survive and succeed.
You may also join organizations where you are sure to meet lots of people. Give calling cards with your address and phone numbers and state your line of work.
Get rid of your shyness. Build up that self-confidence, fast. Sometimes, you fail in an endeavor due to a feeling of insecurity. Instead of going directly to a prospective client, you back out due to feeling of inadequacy, to handle that situation. Smart women know that timidity has no place in effective networking.”
Lillian concludes by writing, “ Networking is reciprocal . You do things for others and they also do good things for you. And there is no such things as useless contact. Even if real benefits are not yet apparent, something will crop up sooner or later. Take good care of all your contacts, everyday of your life, add more to the network, especially if you are looking for a good job. Many people get their jobs through this networking, a powerful strategy to reach your goals and dreams.”
Thank you Lillian for caring enough to share with us your thoughts. A lot of us are familiar with the saying, “Its who you know that makes a difference.” That alone shows the value of networking. I want to share what Bob Burg added to that, he thoughtfully said, “It isn't just what you know, and it isn't just who you know. It's actually who you know, who knows you, and what you do for a living.”
Let’s follow the examples of these ordinary individuals as they strive to make a difference. Each week, lets all get together and share knowledge, stories, experiences, information, all for the sole purpose of getting One Step Up.
For comments, suggestions or stories that you want to share, email me at stirspecialist@gmail.com, or visit www.stirspecialist.blogspot.com
A Better Ballpen
ONE STEP UP By Chris Tio (The Freeman) Updated August 21, 2009 12:00 AM
Recently, a number of people have turned to me for advice on their business idea. I would worriedly protest that I was not qualified to give them advice. But they would insist that I hear them out. I realized that I could at least look at their idea from a common sense point of view and ask simple questions based on that. I found out that a lot of people either wanted to start a business because they love the thought of being an entrepreneur or see someone succeeding in one type of business and want to imitate it but do it better.
I get very interesting answers when I hear the answers to one simple question, “Why do you want to do this?” The answers often range from, “Because everybody thinks it’s a good idea…” to “I have some money saved up…” But I often get very little response to the question, “ What is it that you really want to do?, What are you passionate about?” I often get a blank stare and a rebuttal, “Can that be a business?”
One of the common threads in starting small businesses is that we fall in love with imitation, being a copycat. For example, if someone starts a barbeque restaurant featuring fresh seafood, if it becomes successful, the street will soon have several restaurants with the same concept. Not enough people want to start businesses that are unique and creative. The common fear is that it is too risky and nobody wants to be the one to try. After all, they can be the one to follow if it works…
I believe there are many ideas that exist for business that actually fulfill a need, a unique solution that people have failed to recognize. We often fall in love with complex plans or sophisticated solutions when many times, the actual answer was just staring at us in front of our noses.
I remember a popular story on how much NASA spent to develop the first gravity ballpen. It seems that it was a big problem that ballpens would not write upside down due to the effects of zero gravity. So not so few million dollars later, a zero gravity pen was made. It was a monumental achievement, one that the Agency was very proud of, until they discovered what the Russians were using: A pencil.
Another humorous story was when a Japanese soap manufacturer was horrified to discover that a customer had bought an empty box of soap. To make sure it never happened again, it directed its engineering team to develop a solution to prevent this occurrence. The team immediately came up with a unique x-ray that was mounted at the end of the assembly line. There, all boxes were immediately scanned to make sure that there was always a bar of soap in every box.
After a successful test run, Tokyo headquarters immediately instructed the engineers to ship the new x-ray machines to all of their factories worldwide. The Japanese president of the Philippine subsidiary was worried about what to do while waiting for the x-ray to arrive. He asked his Filipino engineers to study the problem. They promptly came up with an alternative solution, they mounted a high powered industrial fan at the end of the assembly line to blow away any empty boxes.
There is a lot of room for creativity, passion, innovation and uniqueness in starting a business. It may be risky but when it succeeds, the rewards can be enormous. Google co founder Larry Page once said, “You don’t need a 100-person company to develop that idea.” Remember how Google started? It was a school project, on how to develop a better search engine.
I would like to congratulate the UP TAO Brotherhood and Sisterhood for reaching their 20th anniversary this weekend. I would also like to congratulate the UPS for also achieving this significant milestone. I am proud to have been part of the start of these organizations.
I would also like to congratulate Charmaine Ong on the one year anniversary of the Oras ng Jaycees program on DYRF. Thank you for inviting me to guest and discuss the need for entrepreneurship especially for our youth. Congratulations.
Let’s follow the examples of these ordinary individuals as they strive to make a difference. Each week, lets all get together and share knowledge, stories, experiences, information, all for the sole purpose of getting One Step Up.
For comments, suggestions or stories that you want to share, email me at
stirspecialist@gmail.com, or visit www.stirspecialist.blogspot.com .
Recently, a number of people have turned to me for advice on their business idea. I would worriedly protest that I was not qualified to give them advice. But they would insist that I hear them out. I realized that I could at least look at their idea from a common sense point of view and ask simple questions based on that. I found out that a lot of people either wanted to start a business because they love the thought of being an entrepreneur or see someone succeeding in one type of business and want to imitate it but do it better.
I get very interesting answers when I hear the answers to one simple question, “Why do you want to do this?” The answers often range from, “Because everybody thinks it’s a good idea…” to “I have some money saved up…” But I often get very little response to the question, “ What is it that you really want to do?, What are you passionate about?” I often get a blank stare and a rebuttal, “Can that be a business?”
One of the common threads in starting small businesses is that we fall in love with imitation, being a copycat. For example, if someone starts a barbeque restaurant featuring fresh seafood, if it becomes successful, the street will soon have several restaurants with the same concept. Not enough people want to start businesses that are unique and creative. The common fear is that it is too risky and nobody wants to be the one to try. After all, they can be the one to follow if it works…
I believe there are many ideas that exist for business that actually fulfill a need, a unique solution that people have failed to recognize. We often fall in love with complex plans or sophisticated solutions when many times, the actual answer was just staring at us in front of our noses.
I remember a popular story on how much NASA spent to develop the first gravity ballpen. It seems that it was a big problem that ballpens would not write upside down due to the effects of zero gravity. So not so few million dollars later, a zero gravity pen was made. It was a monumental achievement, one that the Agency was very proud of, until they discovered what the Russians were using: A pencil.
Another humorous story was when a Japanese soap manufacturer was horrified to discover that a customer had bought an empty box of soap. To make sure it never happened again, it directed its engineering team to develop a solution to prevent this occurrence. The team immediately came up with a unique x-ray that was mounted at the end of the assembly line. There, all boxes were immediately scanned to make sure that there was always a bar of soap in every box.
After a successful test run, Tokyo headquarters immediately instructed the engineers to ship the new x-ray machines to all of their factories worldwide. The Japanese president of the Philippine subsidiary was worried about what to do while waiting for the x-ray to arrive. He asked his Filipino engineers to study the problem. They promptly came up with an alternative solution, they mounted a high powered industrial fan at the end of the assembly line to blow away any empty boxes.
There is a lot of room for creativity, passion, innovation and uniqueness in starting a business. It may be risky but when it succeeds, the rewards can be enormous. Google co founder Larry Page once said, “You don’t need a 100-person company to develop that idea.” Remember how Google started? It was a school project, on how to develop a better search engine.
I would like to congratulate the UP TAO Brotherhood and Sisterhood for reaching their 20th anniversary this weekend. I would also like to congratulate the UPS for also achieving this significant milestone. I am proud to have been part of the start of these organizations.
I would also like to congratulate Charmaine Ong on the one year anniversary of the Oras ng Jaycees program on DYRF. Thank you for inviting me to guest and discuss the need for entrepreneurship especially for our youth. Congratulations.
Let’s follow the examples of these ordinary individuals as they strive to make a difference. Each week, lets all get together and share knowledge, stories, experiences, information, all for the sole purpose of getting One Step Up.
For comments, suggestions or stories that you want to share, email me at
stirspecialist@gmail.com, or visit www.stirspecialist.blogspot.com .
Cebu beats other cities for Bombardier facility
By Rhia de Pablo (The Freeman) Updated April 29, 2009 12:00 AM
CEBU, Philippines – Cebu City was chosen, among 62 metropolises around the globe, as one of the two locations for the global finance shared services center for accounting and reporting of the multi-national transportation company Bombardier Transportation.
In a recent ceremony, Bombardier Transportation formally opened its Global Finance Shared Service Center for Accounting and Reporting here in Cebu at the 14th floor of the new TGU Tower in Asiatown IT Park with 20 employees that is expected to grow by 150 in 2014.
Bombardier Transportation is a world leading manufacturer based in Canada engaged in innovative transportation solutions from commercial aircraft and business jets to rail transportation equipment, systems and services.
Bombardier general manager and director for finance accounting and reporting Heiko Kafer said that after months of training their local based accountants, Bombardier Transportation will migrate transactional activities in Cebu for the English speaking countries and Asian countries this October while the other one located in Cluj, Romania will service European countries requiring different language capabilities.
He said that the primary objective of moving to a Finance Shared Service Approach is to better focus on internal customers, enhance business support, improve and standardize processes, centralize accounting expertise, improve competitiveness and ensure increased quality of balance sheet and financial results delivered to the market.
Meanwhile, the company’s VP Finance Shared Services, Accounting and Reporting Olivier Guitton underscored that their Finance Shared Service center in Cebu will be sustainable and successful because people are the basis of their excellent delivery of services.
“Cebu was chosen among the 62 cities because in Cebu there is an availability of highly qualified accounting staff at competitive cost who are used to a shared service mentality so we can ensure excellent delivery of services and support for our business for the worldwide market,” said Guitton.
Kafer said that the search for the location of their two Finance Shared Service centers started in August of last year and they have searched cities from all over Europe and Asia.
Among the shortlisted countries included Chinea in India and Kuala Lumpur in Malaysia but Cebu was chosen because of its customer-oriented and service oriented culture.
Governor Gwendolyn Garcia said the launching stressed that the choice of Bombardier to locate one of its global financial center here in Cebu shows the continued confidence of foreign investors to Cebu as an area of growth.
The presence of Bombardier Transportation in the country has been started since 1996 as the company landed contract for the signalling system of the Metro Railway Transit (MRT) and now they are targeting several projects in Manila which includes the Line 8 project which runs from North Avenue to the East of Manila for rolling stock or the trains itself and the signalling systems.
They have also supplied Q400 and Q300 commercial aircraft to Philippines Airlines’ low cost segment PAL Express.
Bombardier Transportation has presence in over 60 countries and has so far installed base of over 100, 000 vehicles worldwide.
It offers the broadest range of product portfolio and is recognized as the leader in the global rail sector as well as the aerospace industry.
Its revenues for the fiscal year 2008 was at $17.5 billion in which $9.7 billion or 55 percent was gotten from its aerospace segment and $7.8 billion or 45 percent from its total revenues was taken from its transportation segment.
Bombardier Transportation is traded in the Toronto Stock Exchange and is listed as an index component to the Dow Jones Sustainability World and North America Indexes.
CEBU, Philippines – Cebu City was chosen, among 62 metropolises around the globe, as one of the two locations for the global finance shared services center for accounting and reporting of the multi-national transportation company Bombardier Transportation.
In a recent ceremony, Bombardier Transportation formally opened its Global Finance Shared Service Center for Accounting and Reporting here in Cebu at the 14th floor of the new TGU Tower in Asiatown IT Park with 20 employees that is expected to grow by 150 in 2014.
Bombardier Transportation is a world leading manufacturer based in Canada engaged in innovative transportation solutions from commercial aircraft and business jets to rail transportation equipment, systems and services.
Bombardier general manager and director for finance accounting and reporting Heiko Kafer said that after months of training their local based accountants, Bombardier Transportation will migrate transactional activities in Cebu for the English speaking countries and Asian countries this October while the other one located in Cluj, Romania will service European countries requiring different language capabilities.
He said that the primary objective of moving to a Finance Shared Service Approach is to better focus on internal customers, enhance business support, improve and standardize processes, centralize accounting expertise, improve competitiveness and ensure increased quality of balance sheet and financial results delivered to the market.
Meanwhile, the company’s VP Finance Shared Services, Accounting and Reporting Olivier Guitton underscored that their Finance Shared Service center in Cebu will be sustainable and successful because people are the basis of their excellent delivery of services.
“Cebu was chosen among the 62 cities because in Cebu there is an availability of highly qualified accounting staff at competitive cost who are used to a shared service mentality so we can ensure excellent delivery of services and support for our business for the worldwide market,” said Guitton.
Kafer said that the search for the location of their two Finance Shared Service centers started in August of last year and they have searched cities from all over Europe and Asia.
Among the shortlisted countries included Chinea in India and Kuala Lumpur in Malaysia but Cebu was chosen because of its customer-oriented and service oriented culture.
Governor Gwendolyn Garcia said the launching stressed that the choice of Bombardier to locate one of its global financial center here in Cebu shows the continued confidence of foreign investors to Cebu as an area of growth.
The presence of Bombardier Transportation in the country has been started since 1996 as the company landed contract for the signalling system of the Metro Railway Transit (MRT) and now they are targeting several projects in Manila which includes the Line 8 project which runs from North Avenue to the East of Manila for rolling stock or the trains itself and the signalling systems.
They have also supplied Q400 and Q300 commercial aircraft to Philippines Airlines’ low cost segment PAL Express.
Bombardier Transportation has presence in over 60 countries and has so far installed base of over 100, 000 vehicles worldwide.
It offers the broadest range of product portfolio and is recognized as the leader in the global rail sector as well as the aerospace industry.
Its revenues for the fiscal year 2008 was at $17.5 billion in which $9.7 billion or 55 percent was gotten from its aerospace segment and $7.8 billion or 45 percent from its total revenues was taken from its transportation segment.
Bombardier Transportation is traded in the Toronto Stock Exchange and is listed as an index component to the Dow Jones Sustainability World and North America Indexes.
Subscribe to:
Posts (Atom)