DBM releases P1.3 billion to light up public schools
MANILA, Philippines — The Department of Budget and Management (DBM) has released nearly P1.3 billion for the electrification of public schools nationwide.
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Mimiyuuuh named face of multi-benefit makeup range
MANILA, Philippines — Avon, the company that believes “a better world for women is a better world for all,” is celebrating Women’s Month in a progressively unique way.
P1.7-M worth shabu confiscated in Zamboanga del Sur
COTABATO CITY— Policemen seized P1.3 million worth of shabu from two dealers from Lanao del Sur, reportedly linked to the Dawlah Islamiya, who were entrapped in Aurora town in Zamboanga del Sur on Wednesday.
Age-related muscle loss: How to keep it at bay
MANILA, Philippines — One moment you’re feeling young, strong and invincible, and able to carry on your youth’s incredible string of physical activities, but the next moment, you feel trapped in an old person’s body — weak, slow and unable to keep up with everyone else. Even walking may become a struggle for you.
Press Release - To boost local dev't and better access to healthcare, Bong Go supports new Public Market and Super Health Center in Pili, Camarines Sur
Senator Christopher "Bong" Go commended the grand opening of the Pili Public Market in Camarines Sur, along with the groundbreaking of the Pili Super Health Center on Friday, March 15.
Press Release - Bong Go champions barangay empowerment during the Liga ng mga Barangay sa Pilipinas -- South Cotabato Chapter Congress in Pasay City
Senator Christopher "Bong" Go attended the Liga ng mga Barangay sa Pilipinas South Cotabato Chapter's 21st Provincial Liga Congress on Tuesday, March 19, at the Midas Hotel in Pasay City.
Citicore Energy REIT doesn’t deny report of potential 30% stake sale
Citicore Energy REIT [CREIT 2.81 ?2.2%] [link] responded to a Biz Buzz article that claimed a “blue chip conglomerate” (BCC) was in negotiations to acquire “a little less than 30%” of CREIT in a deal that would be completed “in the coming days or weeks”. CREIT was asked to clarify. While the company said that it has not made any official statements and that it will provide the required updates when they’re available, it notably did not refute any of the claims from the sources in the article.MB BOTTOM-LINE: The interesting part (to me) is where the CREIT shares come from. My bet is that the ultimate goal is for the cash to flow up to CREIT’s parent company, Citicore Renewable Energy Corp (CREC), to allow CREC to cash up and fill any project funding needs that may be lingering after CREC pushed its IPO back to wait for better “market conditions”. The BCC could buy primary shares from CREIT, which CREIT could then use to purchase projects from CREC, which would both grow CREIT’s dividend and put cash on CREC’s desk. Or, for a faster transaction, BCC could buy secondary CREIT shares from CREC directly. Sounds like we’ll find out soon.
Cebu Landmasters FY23 profit: P4.6-B (up 29%)
Cebu Landmasters [CLI 2.85 unch] [link] teased its FY23 performance at an analyst briefing where it revealed full-year net income of P4.6 billion (up 29%) and total revenues of P18.8 billion (up 20%). CLI said it saw “robust topline growth across all segments”, with real estate sales up 20%, revenue from leasing up 42%, and revenue from hotel and recreational development up 66%. In terms of FY24 outlook, CLI said it expects to launch P27.6 billion worth of projects this year, add 48,590 square meters of gross leasable area to its commercial segment, add 459 keys to its hospitality segment, and spend approximately P14.5 billion on capital expenditures (83% for project development, 11% for landbanking). MB BOTTOM-LINE: While FY23’s numbers all beat CLI’s FY22 segmented performances in absolute terms, the relative growth of each segment has slowed in most cases (except for commercial leasing, which really performed well this year). For example, CLI’s FY22 increase in real estate sales was 40% (20% this year) and its increase in hotel revenue was 71% (66% this year). As an investor, I expect to see growth slow over time as an organization expands, but despite the fantastic presentation, I don’t get a good sense from CLI as to whether the relative underperformance is just an artifact of revenue recognition or if there are some larger roadblocks in play. Credit where credit is due, though: I applaud CLI for disclosing the slide deck that it presented to the analysts in the briefing. There’s no better way to get a condensed feel for CLI’s potential topline growth than this deck. I wish more companies would do this. It’s a massive improvement over the press release summary that CLI provided last year. They’ve taken strides to improve their communications strategy.