MANILA, Philippines - To boost its revenue collection efforts, the Bureau of Internal Revenue (BIR) has set its sights on motels and restaurants this Valentine’s Day.
The BIR said it will run after owners of motels, inns, hotels and restaurants who will not declare their true income on Valentine’s Day in order to evade taxes.
Such establishments usually earn large profits during the day of hearts.
BIR Deputy Commissioner Lucita Rodriguez told The STAR that these establishments would be placed under discreet surveillance to verify if the owners report and pay correct taxes.
She clarified that the program is not meant to harass couples who patronize these establishments.
“The only intention of the bureau is to collect correct taxes,” she said.
“We would not check who will patronize these establishments, especially the motels, but see the frequency of their clients,” she added.
Most of these establishments are also expected to profit from groups that will hold their Valentine’s parties or Juniors-Seniors prom, she added.
Rodriguez said the move is in line with the BIR’s program to increase tax collection.
She said they would conduct their discreet operations on Feb.13, 14 and 15 or before and after Valentine’s Day.
Source: The Philippine Star
Saturday, February 13, 2010
Friday, February 12, 2010
BY MID 2010: Newly opened I.T. bldg expects 100% occupancy
CEBU, Philippines - TG Universal (TGU), one of the newest buildings that opened at the Cebu Asiatown IT Park, expects to be 100 percent occupied by middle of this year.
Shortly after it soft opened last year, TGU attracted 20 occupants, that filled in the 16-story structure developed by Business Ventures Corporation.
The company’s chief operating officer Charles Ong said that aside from those who expressed interest to locate at the building, the existing companies now occupying office spaces in the building are also expanding.
To date, big names in the IT sector have made their office-base at TGU building, these include; IBM Global Delivery Center, Bombardier Transportation (Shared Services) Philippines Inc., Xlibris Philippines Inc., Windward Software Philippines Inc., Playtech—Bingames Limited, eBusiness BPO Inc., Next2Web, Taylor Science and Technology Philippines Inc., among others.
According to Ong, TGU which is the largest building in terms of gross floor area within the cyberpark, is expected to be fully occupied by the middle of this year.;
Business Ventures Corporation, which is also the developer of Sykes building in Mabolo, spent more than P700 million for the construction of the state-of-the-art IT building, to take advantage of the strong demand for BPO spaces in Cebu.
Ong, whose family core business is into real estate (apartment rentals, warehousing), said that the family decided to diversify its business to building development targeting the BPO investors because of the good prospect for this kind of development.
For this reason, the company has decided to focus on investing its money on the real estate trade in Cebu, with the establishment of a new brand, called “Innoland” which allocates close to a billion pesos capital expenditure (capex) for this year, to build three more sophisticated buildings within the metropolis.
Ong described one of its upcoming projects as an internationally-accredited “Green Building” that will put Cebu in another dimension of attracting investors that are looking for environment friendly structures.
The first project that will be started by the company in the next couple of months will be located in a 3,000 square-meter lot at the Asia Town IT Park. However, the group has not divulged the full description of the nature of project.
Innoland has done extensive research and feasibility study for Cebu real estate sector. “The market is different now—sophisticated, tech-savvy, well informed, and conscious of the environment,” Ong said.
Thus, the company’s line of projects will incorporate the different and sophisticated needs of today’s market.
Source: The Freeman Cebu
Shortly after it soft opened last year, TGU attracted 20 occupants, that filled in the 16-story structure developed by Business Ventures Corporation.
The company’s chief operating officer Charles Ong said that aside from those who expressed interest to locate at the building, the existing companies now occupying office spaces in the building are also expanding.
To date, big names in the IT sector have made their office-base at TGU building, these include; IBM Global Delivery Center, Bombardier Transportation (Shared Services) Philippines Inc., Xlibris Philippines Inc., Windward Software Philippines Inc., Playtech—Bingames Limited, eBusiness BPO Inc., Next2Web, Taylor Science and Technology Philippines Inc., among others.
According to Ong, TGU which is the largest building in terms of gross floor area within the cyberpark, is expected to be fully occupied by the middle of this year.;
Business Ventures Corporation, which is also the developer of Sykes building in Mabolo, spent more than P700 million for the construction of the state-of-the-art IT building, to take advantage of the strong demand for BPO spaces in Cebu.
Ong, whose family core business is into real estate (apartment rentals, warehousing), said that the family decided to diversify its business to building development targeting the BPO investors because of the good prospect for this kind of development.
For this reason, the company has decided to focus on investing its money on the real estate trade in Cebu, with the establishment of a new brand, called “Innoland” which allocates close to a billion pesos capital expenditure (capex) for this year, to build three more sophisticated buildings within the metropolis.
Ong described one of its upcoming projects as an internationally-accredited “Green Building” that will put Cebu in another dimension of attracting investors that are looking for environment friendly structures.
The first project that will be started by the company in the next couple of months will be located in a 3,000 square-meter lot at the Asia Town IT Park. However, the group has not divulged the full description of the nature of project.
Innoland has done extensive research and feasibility study for Cebu real estate sector. “The market is different now—sophisticated, tech-savvy, well informed, and conscious of the environment,” Ong said.
Thus, the company’s line of projects will incorporate the different and sophisticated needs of today’s market.
Source: The Freeman Cebu
Thursday, February 11, 2010
RLC rolling out 11 new residential projects
MANILA, Philippines - Robinsons Land Corp. (RLC), the property development arm of Gokongwei holding firm JG Summit Holdings Inc., is rolling out 11 new residential projects to fill in the strong demand for low-to middle-income housing.
In a filing with securities regulators, RLC said it is awaiting the issuance of a license to sell a total of 5,008 housing units covering 11 new projects.
These projects are Monte Del Sol, Costa Verde, Forest Parkhomes North, Hanalei Heights , Brighton Parkplace North, Montclair Highlands , Sitio Andalucia, St. Bernice Estates, Nizanta Gardens , Vimana Verde Residences and Grand Tierra.
RLC said it plans to develop at least three new housing projects a year. To further expand its landbank and geographic base, the company is in various stages of negotiations for the acquisition of approximately 203 hectares in key regional cities throughout the country.
For its residential buildings division, RLC said it plans to build at least three new projects annually. As of end-September 2009, RLC had a portfolio of 29 residential condominium projects located in Metro Manila and Cebu , of which 16 had been completed and 13 projects under various stages of development.
“The company’s business plan for its residential buildings division is to develop new projects in response to actual and anticipated market demand.
The company believes that the potential for growth is in the affordable to middle-cost high-rise condominium developments and in the middle-cost to high-end horizontal residential segments of the market,” RLC said.
For its commercial center division, RLC had 10 new shopping malls in the planning and development stage for completion in the next two to three years to sustain its growth momentum.
For its fiscal year ending September 2009, RLC had opened five malls: Pulilan, Bulacan; Tagaytay; Davao; Tacloban and Gen. Santos City and a redeveloped mall in Tarlac City. It currently operates 26 shopping malls, comprising six malls in Metro Manila and 20 malls in other urban areas throughout the Philippines, with a gross floor area of approximately 1.43 million square meters.
The commercial centers division’s main revenue stream is derived from the lease of commercial spaces. Historically, revenues from lease rentals have been a steady source of operating cash flow for the company.
RLC expects that the revenues and operating cash flow generated by the commercial centers business shall continue to be the driver for the company’s growth in the future.
Source: The Philippine Star
In a filing with securities regulators, RLC said it is awaiting the issuance of a license to sell a total of 5,008 housing units covering 11 new projects.
These projects are Monte Del Sol, Costa Verde, Forest Parkhomes North, Hanalei Heights , Brighton Parkplace North, Montclair Highlands , Sitio Andalucia, St. Bernice Estates, Nizanta Gardens , Vimana Verde Residences and Grand Tierra.
RLC said it plans to develop at least three new housing projects a year. To further expand its landbank and geographic base, the company is in various stages of negotiations for the acquisition of approximately 203 hectares in key regional cities throughout the country.
For its residential buildings division, RLC said it plans to build at least three new projects annually. As of end-September 2009, RLC had a portfolio of 29 residential condominium projects located in Metro Manila and Cebu , of which 16 had been completed and 13 projects under various stages of development.
“The company’s business plan for its residential buildings division is to develop new projects in response to actual and anticipated market demand.
The company believes that the potential for growth is in the affordable to middle-cost high-rise condominium developments and in the middle-cost to high-end horizontal residential segments of the market,” RLC said.
For its commercial center division, RLC had 10 new shopping malls in the planning and development stage for completion in the next two to three years to sustain its growth momentum.
For its fiscal year ending September 2009, RLC had opened five malls: Pulilan, Bulacan; Tagaytay; Davao; Tacloban and Gen. Santos City and a redeveloped mall in Tarlac City. It currently operates 26 shopping malls, comprising six malls in Metro Manila and 20 malls in other urban areas throughout the Philippines, with a gross floor area of approximately 1.43 million square meters.
The commercial centers division’s main revenue stream is derived from the lease of commercial spaces. Historically, revenues from lease rentals have been a steady source of operating cash flow for the company.
RLC expects that the revenues and operating cash flow generated by the commercial centers business shall continue to be the driver for the company’s growth in the future.
Source: The Philippine Star
Wednesday, February 10, 2010
The GA Report: A fresh take on housing and property development
MANILA, Philippines - The phenomenal success of Globe Asiatique Realty Holdings Corp. in redefining mass housing and township development in the country has motivated the company to open another door of opportunity for most Filipino families who dream of owning their own home by conceptualizing an informative TV show which answers the questions posted by viewers interested in various aspects of housing, real estate and property development.
Aptly called The GA Report, the show airs over the ABS-CBN News Channel (ANC) with primetime telecast every Thursday, from 10:30 to 11 p.m. and replays every Saturday from 1 to 1:30 p.m. The show is slated to run until April 24, 2010. The program will also be telecast over The Filipino Channel (TFC), reaching a wide range of audience both here and abroad.
The program is hosted by Globe Asiatique president, successful entreprenuer and philanthropist Delfin Lee. It will be co-hosted by noted broadcaster, television personality and Clark Development Corp. Public Affairs manager, Angelo “Sonny’’ Lopez Jr.
“The GA Report wants to bring Filipinos closer to their dream of owning their own home by discussing relevant issues on housing, property development and tips on sustaining a progressive lifestyle,’’ Lee explained.
Lee has been vocal on his ambition to elevate the lifestyle condition of Filipinos through his company’s housing projects and make them affordable to income-challenged Pinoys.
As such, The GA Report aims to bring fresh concepts on housing and property development by making first time property buyers especially the overseas Filipino workers (OFWs) as well as Filipinos living abroad make an informed decisions on their investments.
By discussing relevant issues and concerns ranging from the most mundane such as how to go about obtaining a Pag-IBIG loan, interest rate computations, amortization schemes to presenting helpful tips and information on family life in a township community, the show aims to simplify and make information available to the masses and potential buyers.
The program is also envisioned to inspire start-ups as well as experienced entrepreneurs in the field of real state and property development.
Lee hopes the phenomenal success of Globe Asiatique in mass housing could inspire more businessmen and entreprenuers to take on the challenges of property developments and likewise set a noble goal of developing housing opportunities for low-income earners without the low quality standard that comes with that segment.
The GA Report also hopes to provide viewers with candid answers on housing and property development by presenting what people are drawn to such as security, good environment, community solidarity, and first class facilities.
With Globe Asiatique’s well established reputation as the leader in community and township development, Lee is confident that The GA Report has the credibility to present information on the advantages of living in a well planned township project.
“We are in the business of building communities and not just houses. The ordinary Filipino wants a better lifestyle, a higher standard of living for his children. We at GA are going all out to make this particular Filipino dream possible, and I believe we’ve been uniquely successful,’’ Lee was quoted as saying.
Likewise, the program will touch on city planning, corporate social responsibility, careers in the field of sales and so much more.
It will also feature various case studies and success stories of people who have made it as well as businesses and developments which continue to thrive.
Globe Asiatique, owned by the family of Delfin Lee, is a leading developer of mass housing communities and a prominent player in the high-rise residential condominium market. It is the company behind groundbreaking projects such as St. Monique Valais in Binangonan, Rizal; Xevera in Bacolor and Mabalacat town in Pampanga; Casa Ibiza in Antipolo; the Enclave in Angeles City; Chateau Valenzuela; GA Twin Towers in Mandaluyong; and the 38-storey GA Sky Suites in Quezon Avenue-soon to rise as the tallest building along Edsa.
The company is set to lauch more projects soon, including The Courtyard, the New Sta. Rosa Homes in Laguna, Sameerah in Angeles City and the Xevera Neo-Calapan in Mindoro.
During the first nine months of 2009, Globe Asiatique posted a net income of P300.1 million, 40 percent higher than its earnings a year earlier, on revenues of P3.02 billion.
Globe Asiatique is gearing up for its initial public offering (IPO) soon. The company said proceeds from the sale share will fund the development of the company’s housing projects on a wider, nationwide scale. It is currently awaiting the Securities and Exchange Commission (SEC) approval of its IPO registration filed late last year.
Source: The Philippine Star
Aptly called The GA Report, the show airs over the ABS-CBN News Channel (ANC) with primetime telecast every Thursday, from 10:30 to 11 p.m. and replays every Saturday from 1 to 1:30 p.m. The show is slated to run until April 24, 2010. The program will also be telecast over The Filipino Channel (TFC), reaching a wide range of audience both here and abroad.
The program is hosted by Globe Asiatique president, successful entreprenuer and philanthropist Delfin Lee. It will be co-hosted by noted broadcaster, television personality and Clark Development Corp. Public Affairs manager, Angelo “Sonny’’ Lopez Jr.
“The GA Report wants to bring Filipinos closer to their dream of owning their own home by discussing relevant issues on housing, property development and tips on sustaining a progressive lifestyle,’’ Lee explained.
Lee has been vocal on his ambition to elevate the lifestyle condition of Filipinos through his company’s housing projects and make them affordable to income-challenged Pinoys.
As such, The GA Report aims to bring fresh concepts on housing and property development by making first time property buyers especially the overseas Filipino workers (OFWs) as well as Filipinos living abroad make an informed decisions on their investments.
By discussing relevant issues and concerns ranging from the most mundane such as how to go about obtaining a Pag-IBIG loan, interest rate computations, amortization schemes to presenting helpful tips and information on family life in a township community, the show aims to simplify and make information available to the masses and potential buyers.
The program is also envisioned to inspire start-ups as well as experienced entrepreneurs in the field of real state and property development.
Lee hopes the phenomenal success of Globe Asiatique in mass housing could inspire more businessmen and entreprenuers to take on the challenges of property developments and likewise set a noble goal of developing housing opportunities for low-income earners without the low quality standard that comes with that segment.
The GA Report also hopes to provide viewers with candid answers on housing and property development by presenting what people are drawn to such as security, good environment, community solidarity, and first class facilities.
With Globe Asiatique’s well established reputation as the leader in community and township development, Lee is confident that The GA Report has the credibility to present information on the advantages of living in a well planned township project.
“We are in the business of building communities and not just houses. The ordinary Filipino wants a better lifestyle, a higher standard of living for his children. We at GA are going all out to make this particular Filipino dream possible, and I believe we’ve been uniquely successful,’’ Lee was quoted as saying.
Likewise, the program will touch on city planning, corporate social responsibility, careers in the field of sales and so much more.
It will also feature various case studies and success stories of people who have made it as well as businesses and developments which continue to thrive.
Globe Asiatique, owned by the family of Delfin Lee, is a leading developer of mass housing communities and a prominent player in the high-rise residential condominium market. It is the company behind groundbreaking projects such as St. Monique Valais in Binangonan, Rizal; Xevera in Bacolor and Mabalacat town in Pampanga; Casa Ibiza in Antipolo; the Enclave in Angeles City; Chateau Valenzuela; GA Twin Towers in Mandaluyong; and the 38-storey GA Sky Suites in Quezon Avenue-soon to rise as the tallest building along Edsa.
The company is set to lauch more projects soon, including The Courtyard, the New Sta. Rosa Homes in Laguna, Sameerah in Angeles City and the Xevera Neo-Calapan in Mindoro.
During the first nine months of 2009, Globe Asiatique posted a net income of P300.1 million, 40 percent higher than its earnings a year earlier, on revenues of P3.02 billion.
Globe Asiatique is gearing up for its initial public offering (IPO) soon. The company said proceeds from the sale share will fund the development of the company’s housing projects on a wider, nationwide scale. It is currently awaiting the Securities and Exchange Commission (SEC) approval of its IPO registration filed late last year.
Source: The Philippine Star
Great potential seen for RP's mortuary industry
CEBU, Philippines - The growing number of those interested in the business and the profession is an indication that there is great potential for the country’s mortuary industry.
During the 5th Annual Convention of the Philippine Mortuary Association (PMA) held in Cebu, Renato Dychangco Jr., PMA President, said that there are over 500 members of PMA at present which have grown tremendously since it started and still shows a budding possibility to grow more.
Dychangco said that they are now targeting to double the number of members they have to 1,000 or more which he said they are very optimistic of achieving.
In their aim to further boost the mortuary industry in the country, Dychangco said that they will bid to host the Asian Mortuary conference which will be held this May in Hong Kong.
Dychangco said that Malaysia and Indonesia will also be bidding but they are hopeful to get the final nod in order to show to other countries that the mortuary industry in the Philippines is doing well.
He said that if they would be given the chance to host the next conference, they would be preparing for a big event which would have more than 2,000 participants.
Further, as PMA aims to “professionalize funeral service and upgrade the standard of death care in the Philippines,” Dychangco said that with the help of the annual conventions where they have various discussions on the concerns of the sector, they would be able strengthen the high standard mortuary services that they would want for all the industry players to offer.
This starting off with the discussion of procedures and policies that was discussed during the convention by the Department of Health represented by Dr. Josephine Hipolito, secretariat of the Committee of Examiners for Undertakers and Embalmers.
Dychangco said that part of the discussion was aimed to intensify their goal to professionalize the industry and provide licenses for the embalmers.
“We are making sure that the standards of the industry would be higher and greater,” said Dychangco who added that Cebu member-mortuaries in particular have been complying with the standards that they wish to sustain and is continually uplifting the standards that they are practicing.
Aside from the updates from DOH during the convention, health care waste management in mortuary setting was also discussed as well as managing the perspective to success for mortuary businesses and the role of mortuary professionals in Philippine disaster protocols.
Source: The Freeman Cebu
During the 5th Annual Convention of the Philippine Mortuary Association (PMA) held in Cebu, Renato Dychangco Jr., PMA President, said that there are over 500 members of PMA at present which have grown tremendously since it started and still shows a budding possibility to grow more.
Dychangco said that they are now targeting to double the number of members they have to 1,000 or more which he said they are very optimistic of achieving.
In their aim to further boost the mortuary industry in the country, Dychangco said that they will bid to host the Asian Mortuary conference which will be held this May in Hong Kong.
Dychangco said that Malaysia and Indonesia will also be bidding but they are hopeful to get the final nod in order to show to other countries that the mortuary industry in the Philippines is doing well.
He said that if they would be given the chance to host the next conference, they would be preparing for a big event which would have more than 2,000 participants.
Further, as PMA aims to “professionalize funeral service and upgrade the standard of death care in the Philippines,” Dychangco said that with the help of the annual conventions where they have various discussions on the concerns of the sector, they would be able strengthen the high standard mortuary services that they would want for all the industry players to offer.
This starting off with the discussion of procedures and policies that was discussed during the convention by the Department of Health represented by Dr. Josephine Hipolito, secretariat of the Committee of Examiners for Undertakers and Embalmers.
Dychangco said that part of the discussion was aimed to intensify their goal to professionalize the industry and provide licenses for the embalmers.
“We are making sure that the standards of the industry would be higher and greater,” said Dychangco who added that Cebu member-mortuaries in particular have been complying with the standards that they wish to sustain and is continually uplifting the standards that they are practicing.
Aside from the updates from DOH during the convention, health care waste management in mortuary setting was also discussed as well as managing the perspective to success for mortuary businesses and the role of mortuary professionals in Philippine disaster protocols.
Source: The Freeman Cebu
OFW inflows seen growing 5-10% this year
MANILA, Philippines - British banking giant HSBC sees remittances by overseas Filipino workers (OFWs) posting a double-digit growth this year as the Philippine economy slowly rebounds from the global financial meltdown.
Junie Veloso, head of the corporate banking division of HSBC, told reporters that OFW inflows would grow by five to 10 percent this year, faster than the six-percent growth projected by the Bangko Sentral ng Pilipinas (BSP).
The BSP said remittances likely grew by four percent to a new record of $17.1 billion last year from $16.4 billion in 2008.
Latest data from the BSP showed that OFW remittances climbed by 5.1 percent to $15.78 billion as of November last year from $15.019 billion as of end-November in 2008. Remittances – fastest in 14 months – grew by 11.3 percent to $1.459 billion in November last year from $1.311 billion in the same month in 2008.
Major sources of remittances were the US, Canada, Saudi Arabia, United Kingdom, Japan, Singapore, United Arab Emirates, Italy, and Germany.
“OFW remittances is very strong and it definitely exceeded $17 billion in 2009,” Veloso pointed out.
The growth, he explained, would come from the continued recovery of the global economy as well as the domestic economy.
HSBC sees the country’s gross domestic product (GDP) expanding by 5.1 percent this year.
Veloso said monetary authorities would likely start adjusting the BSP’s key policy rates in the second quarter or third quarter of the year.
“The downside risk is inflationary pressures. Due to continued demand, prices have gone up,” he said.
The central bank’s Monetary Board has slashed its key policy rates by 200 basis points from December 2008 to July 2009 as part of an easing cycle aimed at cushioning the impact of the global financial crisis. This brought the overnight borrowing rate to a record low of four percent and the overnight lending rate to six percent.
According to Veloso, inflation this year would not go beyond the target of 3.5 to 5.5 percent set by the BSP.
“The BSP is very good in reading the situation. They have been managing inflation pretty well. We wouldn’t breach the high end of the target which is 5.5percent,” he said.
Source: The Philippine Star
Junie Veloso, head of the corporate banking division of HSBC, told reporters that OFW inflows would grow by five to 10 percent this year, faster than the six-percent growth projected by the Bangko Sentral ng Pilipinas (BSP).
The BSP said remittances likely grew by four percent to a new record of $17.1 billion last year from $16.4 billion in 2008.
Latest data from the BSP showed that OFW remittances climbed by 5.1 percent to $15.78 billion as of November last year from $15.019 billion as of end-November in 2008. Remittances – fastest in 14 months – grew by 11.3 percent to $1.459 billion in November last year from $1.311 billion in the same month in 2008.
Major sources of remittances were the US, Canada, Saudi Arabia, United Kingdom, Japan, Singapore, United Arab Emirates, Italy, and Germany.
“OFW remittances is very strong and it definitely exceeded $17 billion in 2009,” Veloso pointed out.
The growth, he explained, would come from the continued recovery of the global economy as well as the domestic economy.
HSBC sees the country’s gross domestic product (GDP) expanding by 5.1 percent this year.
Veloso said monetary authorities would likely start adjusting the BSP’s key policy rates in the second quarter or third quarter of the year.
“The downside risk is inflationary pressures. Due to continued demand, prices have gone up,” he said.
The central bank’s Monetary Board has slashed its key policy rates by 200 basis points from December 2008 to July 2009 as part of an easing cycle aimed at cushioning the impact of the global financial crisis. This brought the overnight borrowing rate to a record low of four percent and the overnight lending rate to six percent.
According to Veloso, inflation this year would not go beyond the target of 3.5 to 5.5 percent set by the BSP.
“The BSP is very good in reading the situation. They have been managing inflation pretty well. We wouldn’t breach the high end of the target which is 5.5percent,” he said.
Source: The Philippine Star
Tuesday, February 9, 2010
DOT's comprehensive infra program to provide water to tourist destinations
CEBU, Philippines - As part of its efforts to provide efficient infrastructure support to top tourism destinations in the country, the Department of Tourism is running a comprehensive infrastructure program in Boracay Island and other island destinations.
Boracay Island, the country’s pride and premier tourist destination, is undergoing a much-needed makeover, with the ongoing comprehensive infrastructure program that will provide ample supply of water to the area.
According to Tourism secretary Joseph Ace Durano the increased water efficiency will make a significant difference to the island, ensuring the availability of safe, potable water, and addressing the concern of water pollution, a concern in Boracay for sometime now.
The project is spearheaded by the Boracay Island Water Company, Inc. (BIWC), a joint venture company between Manila Water Company, Inc. and the Philippine Tourism Authority (PTA).
Established through a Memorandum of Agreement (MOA) signed in April last year, with Durano and Manila Water chairman Fernando Zobel de Ayala as key witnesses, the JV company will develop and operate the existing Boracay Water Supply and Sewerage System (BWSS) in Malay, Aklan.
Durano said the public-private sector partnership can be likened to a ‘grand slam win’ noting the four key factors such as “support infrastructure as an integral component of sustainable tourism development, the elimination of the water and sewerage constraint, benefiting both existing and new investments in the island, protection and conservation of the natural beauty of Boracay, and the creation of new jobs for locals.
Malapascua grant
In Cebu, the DOT gave P1.7 million to Barangay Logon, Malapascua Island in the northern Cebu to implement a solid waste management program and sustain tourist arrivals in the island.Durano said the Malapascua Island grant is part of the DOT’s vision to make Malapascua a wold class eco-tourism destination.
“It is in eco-tourism products that the Philippines can be competitive. To revive the European market, we pushed scuba diving and look where it led us? Despite the crisis, French and German arrivals are still up,” said Durano.
Malapascua island in Daanbantayan town, one of the country’s top diving destinations, has three marine protected areas which attract scuba divers worldwide. These are Monad Shoal, Gato Island and Lapus Lapus.
“Preserving the island’s ecological wealth is our foremost priority. Promoting the sought-after destination to travelers also entails guaranteeing that the island can provide safe water to the local community and to tourists,” said DOT undersecretary for tourism planning and promotions Eduardo Jarque Jr.
Support
Meanwhile, helping the government improve the poor infrastructure state in the country, two water resource technology and distribution providers started their nationwide venture to solve water scarcity especially in the islands with huge tourism potentials.Mactan Rock Industries, Inc. and Pilipinas Water Resources Inc (PWRI) jointly ventured into water supply operations in the outskirts municipalities of Visayas and Mindanao, following the success of “Barangayan” water projects in Cebu.
Mactan Rock and PWRI chairman Antonio P. Tompar said the two companies will spend another P70 million in this nationwide project, initially providing community water supply facilities in El Nido (Palawan), Cabadbaran in Agusan del Norte, and Aracelli in Northern Palawan.
“These areas have huge commercial and tourism potentials. We are providing them with water supply tapping their water-bank resources, to bring water directly to the households,” said Tompar.
Mactan Rock and PWRI are Cebu-based companies, which primarily aim to provide ample and affordable water supply to barangays or towns which water system facilities are not property implemented.
Source: The Freeman Cebu
Filinvest Land buys out partner in two companies
MANILA, Philippines - Filinvest Land Inc. (FLI), the property development unit of the Gotianun family, has acquired full ownership of Cyberzone Properties Inc. (CPI) and Filinvest Africa-Israel Properties Inc. (FAPI) after buying out its partner Africa-Israel Properties (Phils.), a foreign investment firm, for P1.16 billion.
In a disclosure to the Philippine Stock Exchange, FLI said it has completed the acquisition of the 40 percent interest of Africa-Israel Properties in CPI as well as the 40 percent stake in FAPI for P780 million and P383.2 million, respectively.
FLI said the acquisition price was computed at the company’s book value per share while the CPI share price was computed at a premium of 8.79 percent over the company’s book value as of Sept. 30 last year.
CPI owns and operates the BPO offices in Northgate Cyberzone in Alabang, Muntinlupa while FAPI is developing the Timberland Sports and Nature Club and approximately 50 hectares of land comprising Phase 2 of FLI’s Timberland Heights township project in San Mateo, Rizal.
FLI said the acquisition will enable the company to consolidate its share in the strong and stable recurring revenue streams from the two companies as well as provide incremental development potential to FLI’s existing revenue streams.
On the other hand, the sale by Africa-Israel of its interests in the two companies is part of the group’s global portfolio rebalancing and consolidation activity.
Source: The Philippine Star
In a disclosure to the Philippine Stock Exchange, FLI said it has completed the acquisition of the 40 percent interest of Africa-Israel Properties in CPI as well as the 40 percent stake in FAPI for P780 million and P383.2 million, respectively.
FLI said the acquisition price was computed at the company’s book value per share while the CPI share price was computed at a premium of 8.79 percent over the company’s book value as of Sept. 30 last year.
CPI owns and operates the BPO offices in Northgate Cyberzone in Alabang, Muntinlupa while FAPI is developing the Timberland Sports and Nature Club and approximately 50 hectares of land comprising Phase 2 of FLI’s Timberland Heights township project in San Mateo, Rizal.
FLI said the acquisition will enable the company to consolidate its share in the strong and stable recurring revenue streams from the two companies as well as provide incremental development potential to FLI’s existing revenue streams.
On the other hand, the sale by Africa-Israel of its interests in the two companies is part of the group’s global portfolio rebalancing and consolidation activity.
Source: The Philippine Star
6%-7% increase in OFW remittances seen this year
MANILA, Philippines - Metrobank Group’s First Metro Investments Corp. (FMIC) and the University of Asia and the Pacific (UA&P) see the amount of money sent home by Filipinos abroad growing between six percent and seven percent this year with the expected gobal economic recovery.
FMIC and UA&P in its The Market Call Capital Markets Research said the growth of overseas Filipino workers’ (OFW) remittances would remain in double digit level this year with the gradual recovery from the gobal financial meltdown.
“And with the improvement of our host countries’ economies, we see remittances growing by six percent to eight percent this year,” the groups said.
The research note stated that OFW remittances would grow between four percent and six percent in the first quarter of the year.
“OFW remittance growth in US dollar terms will remain single digit in Q1, moving in a tight range of four percent to six percent, but in peso terms this will be closer to zero, thus giving little added stimulus to the economy,” FMIC and UA&P added.
The Bangko Sentral ng Pilipinas (BSP) sees OFW remittances growing by at least six percent this year from a record $17.1 billion last year.
Latest data from the BSP showed that OFW remittances climbed by 5.1 percent to $15.78 billion as of end-November last year from $15.019 billion as of end-November in 2008. This after it accelerated to its fastest level in 14 months after it grew by 11.3 percent to $1.459 billion in November last year from $1.311 billion in the same month in 2008.
Major sources of remittances included the US, Canada, Saudi Arabia, United Kingdom, Japan, Singapore, United Arab Emirates, Italy, and Germany.
“Though not as high as recorded in earlier years, US dollar remittances outperformed expectations of negative to flat growth by many foreign institutions. As expected, these remittances kept the Philippine economy buoyant while neighboring countries, except for Indonesia and Vietnam, saw their economies shrink in 2009,” it added.
FMIC an UA&P added that another driving force behind this is the increase in services such as money transfers and account transfers provided by commercial banks.
The groups said the appreciation of the peso against the dollar would continue to mitigate the effects of high OFW remittances on domestic consumption spending in the country.
According to the, OFW remittances could have gone up by 5.5 percent last year or better than the projected four percent growth forecast sey by BSP officials.
“Given the strong inflow of remittances during the Christmas holidays, we think that it is still possible for remittances to post 5.5 percent growth for 2009.”
Source: The Philippine Star
FMIC and UA&P in its The Market Call Capital Markets Research said the growth of overseas Filipino workers’ (OFW) remittances would remain in double digit level this year with the gradual recovery from the gobal financial meltdown.
“And with the improvement of our host countries’ economies, we see remittances growing by six percent to eight percent this year,” the groups said.
The research note stated that OFW remittances would grow between four percent and six percent in the first quarter of the year.
“OFW remittance growth in US dollar terms will remain single digit in Q1, moving in a tight range of four percent to six percent, but in peso terms this will be closer to zero, thus giving little added stimulus to the economy,” FMIC and UA&P added.
The Bangko Sentral ng Pilipinas (BSP) sees OFW remittances growing by at least six percent this year from a record $17.1 billion last year.
Latest data from the BSP showed that OFW remittances climbed by 5.1 percent to $15.78 billion as of end-November last year from $15.019 billion as of end-November in 2008. This after it accelerated to its fastest level in 14 months after it grew by 11.3 percent to $1.459 billion in November last year from $1.311 billion in the same month in 2008.
Major sources of remittances included the US, Canada, Saudi Arabia, United Kingdom, Japan, Singapore, United Arab Emirates, Italy, and Germany.
“Though not as high as recorded in earlier years, US dollar remittances outperformed expectations of negative to flat growth by many foreign institutions. As expected, these remittances kept the Philippine economy buoyant while neighboring countries, except for Indonesia and Vietnam, saw their economies shrink in 2009,” it added.
FMIC an UA&P added that another driving force behind this is the increase in services such as money transfers and account transfers provided by commercial banks.
The groups said the appreciation of the peso against the dollar would continue to mitigate the effects of high OFW remittances on domestic consumption spending in the country.
According to the, OFW remittances could have gone up by 5.5 percent last year or better than the projected four percent growth forecast sey by BSP officials.
“Given the strong inflow of remittances during the Christmas holidays, we think that it is still possible for remittances to post 5.5 percent growth for 2009.”
Source: The Philippine Star
Monday, February 8, 2010
Morticians to hold confab in Cebu
CEBU, Philippines - The Philippine Mortuary Association will hold its 5th Annual Convention in Cebu to discuss updates and concerns of the mortuary industry in the country.
The convention will start today and will run for three days with line up of different activities, including discussions on various topics that members need to know as service providers for the care of the departed.
During the first day, Mr. Renato Tanquintic of La Funeraria Paz will discuss on the topic “Surviving the trials of tragedies.”
Dr. Josephie Hipolito, secretariat of the Committee of Examiners for Undertakers and Embalmers (CEUE) under the Department of Health will report about updates on policies and programs of the government.
CEUE is in-charge of accrediting or licensing embalmers and ensuring that unscrupulous practices of unlicensed embalmers are prevented.
Other topics to be discussed include health care waste management in mortuary setting by Engineer Vicente Vosotros, “Lead, follow or get out of the way,” by Jeffrey Kevin Chancellor, “Managing perspective to success” by Francis Kong and the “Role of Mortuary Professionals in Philippine disaster protocol” to be tackled by Dr. Raquel Fortun.
The PMA holds annual conventions in its efforts to “professionalize funeral service and upgrade the standard of death care in the Philippines by providing a unified voice to the Government offering education, information, programs and services to help members enhance their quality of service to families.”
As the society keeps on transforming to modernity, PMA sees it vital to be updated with the modern technology as according to the international standard in delivering such services.
The PMA also make sure that members are always reminded of the waste disposal practices, which is the group’s primary concern at all times, to protect the environment. It also sees to it that best waste disposal management is adhered to by the mortuary operators while sanitary condition in and out of the mortuary establishment is kept.
Source: The Freeman Cebu
The convention will start today and will run for three days with line up of different activities, including discussions on various topics that members need to know as service providers for the care of the departed.
During the first day, Mr. Renato Tanquintic of La Funeraria Paz will discuss on the topic “Surviving the trials of tragedies.”
Dr. Josephie Hipolito, secretariat of the Committee of Examiners for Undertakers and Embalmers (CEUE) under the Department of Health will report about updates on policies and programs of the government.
CEUE is in-charge of accrediting or licensing embalmers and ensuring that unscrupulous practices of unlicensed embalmers are prevented.
Other topics to be discussed include health care waste management in mortuary setting by Engineer Vicente Vosotros, “Lead, follow or get out of the way,” by Jeffrey Kevin Chancellor, “Managing perspective to success” by Francis Kong and the “Role of Mortuary Professionals in Philippine disaster protocol” to be tackled by Dr. Raquel Fortun.
The PMA holds annual conventions in its efforts to “professionalize funeral service and upgrade the standard of death care in the Philippines by providing a unified voice to the Government offering education, information, programs and services to help members enhance their quality of service to families.”
As the society keeps on transforming to modernity, PMA sees it vital to be updated with the modern technology as according to the international standard in delivering such services.
The PMA also make sure that members are always reminded of the waste disposal practices, which is the group’s primary concern at all times, to protect the environment. It also sees to it that best waste disposal management is adhered to by the mortuary operators while sanitary condition in and out of the mortuary establishment is kept.
Source: The Freeman Cebu
Ohio-based BPO support firm opens Cebu facility
CEBU, Philippines - Recognizing Cebu as the second biggest Business Process Outsourcing (BPO) hub in the Philippines, Ohio-based call center BPO support firm has set up a facility here to further strengthen the flourishing BPO industry in the province.
TeleDevelopment Services, Inc (TDS), an international contact center and BPO support company yesterday opened its Cebu site at the Bigfoot Center in Ramos Street, noting the increasing demand for support services of BPO in Cebu.
TDS provides consulting, staffing, trainings, executive placement, and other sophisticated support services needed by BPO companies to stay competitive with the best manpower pool.
In an interview with TDS marketing and events planning officer AJ Perdigon, she said that the entry of the company in Cebu hopes to aid BPO companies’ problem in staffing and training requirements, specifically in getting the mid-management manpower supply.
“We hope to provide solutions to the problem of getting mid-management manpower in Cebu,” Perdigon said adding that the company has a series of programs aimed at addressing this problem, such as higher level courses for higher management.
The company’s entry to the Philippines, through its Manila office in 2004, successfully gained the trust of big multinational call center firms, like eTelecare, and Tele Tech, among others.
Closely working with the Technical Education and Skills Development Authority (TESDA), TDS has maintained a growing number of US-certified trainers depending on the requirement of a call center or BPO client.
All trainers of TDS are certified by a call center school in the United States, through the Society of Workers Presentation and People, a group that certifies all trainers for BPO short-courses worldwide.
Perdigon hopes that the company’s presence in Cebu will provide a solution to existing call center and BPO firms here, not just in staffing, but more importantly the development of higher-level management pool.
BPO players in Cebu had been complaining of the shortage of mid-management manpower in Cebu, although, supply of agents remains abundant.
Wipro Philippines country head Romit Gupta earlier said that one of the problems the company has encountered so far for the past year of operating here, is the unavailability of mid-management manpower supply in Cebu. He said Wipro is having difficulties in hiring managers, senior managers and supervisors, although hiring entry-level employees is much easier because of ample supply.
“Cebu has all the things that businesses are requiring for, except for the availability of senior management people,” he said.
Likewise, Michael Burdette, chairman and director-finance for Tech Growth Solutions Cebu Inc., also said that Cebu has no problem in getting entry-level call center or BPO manpower, but what the province has to develop is the availability of mid-management people.
“We don’t have problems in hiring entry level people. But, just like other BPOs, we have difficulties in hiring supervisors, and managers,” Burdette said.
With this problem noted, Perdigon said this will be given a solution by the company, using TDS expertise in providing support to BPO and call center companies.
Source: The Freeman Cebu
TeleDevelopment Services, Inc (TDS), an international contact center and BPO support company yesterday opened its Cebu site at the Bigfoot Center in Ramos Street, noting the increasing demand for support services of BPO in Cebu.
TDS provides consulting, staffing, trainings, executive placement, and other sophisticated support services needed by BPO companies to stay competitive with the best manpower pool.
In an interview with TDS marketing and events planning officer AJ Perdigon, she said that the entry of the company in Cebu hopes to aid BPO companies’ problem in staffing and training requirements, specifically in getting the mid-management manpower supply.
“We hope to provide solutions to the problem of getting mid-management manpower in Cebu,” Perdigon said adding that the company has a series of programs aimed at addressing this problem, such as higher level courses for higher management.
The company’s entry to the Philippines, through its Manila office in 2004, successfully gained the trust of big multinational call center firms, like eTelecare, and Tele Tech, among others.
Closely working with the Technical Education and Skills Development Authority (TESDA), TDS has maintained a growing number of US-certified trainers depending on the requirement of a call center or BPO client.
All trainers of TDS are certified by a call center school in the United States, through the Society of Workers Presentation and People, a group that certifies all trainers for BPO short-courses worldwide.
Perdigon hopes that the company’s presence in Cebu will provide a solution to existing call center and BPO firms here, not just in staffing, but more importantly the development of higher-level management pool.
BPO players in Cebu had been complaining of the shortage of mid-management manpower in Cebu, although, supply of agents remains abundant.
Wipro Philippines country head Romit Gupta earlier said that one of the problems the company has encountered so far for the past year of operating here, is the unavailability of mid-management manpower supply in Cebu. He said Wipro is having difficulties in hiring managers, senior managers and supervisors, although hiring entry-level employees is much easier because of ample supply.
“Cebu has all the things that businesses are requiring for, except for the availability of senior management people,” he said.
Likewise, Michael Burdette, chairman and director-finance for Tech Growth Solutions Cebu Inc., also said that Cebu has no problem in getting entry-level call center or BPO manpower, but what the province has to develop is the availability of mid-management people.
“We don’t have problems in hiring entry level people. But, just like other BPOs, we have difficulties in hiring supervisors, and managers,” Burdette said.
With this problem noted, Perdigon said this will be given a solution by the company, using TDS expertise in providing support to BPO and call center companies.
Source: The Freeman Cebu
Dutch outsourcing firm opens facility in Cebu
CEBU, Philippines - Lighthouse Holdings B.V., a Dutch outsourcing company, recently opened a software development and data processing facility in Cebu, its second facility in Asia next to China.
The availability of good software developers and impressive government support for outsourcing investors in Cebu has pushed the company to choose Cebu as its second location in Asia, said Willem-Geert Lagemaat the company’s chief executive officer (CEO).
“We’re here because we need a qualified team. So far we have found very good people. Culturally, it’s much easier to operate here [compared to people in China],” Lagemaat said referring to the good English speaking manpower pool.
The company set up the Lighthouse Software Cebu Inc., and started its initial operations in June of this year at the Asia Town IT Park.
This time, as the company decided to expand its operations in Cebu, and transferred location to a new building developed by AboitizLand Inc. called iMEZ at the Mactan Export Zone (MEZ-2).
Lighthouse Holdings already invested at least P17 million (or 250,000 Euro) since its establishment in Cebu. However, Lagemaat said the company is expecting to invest more to one million Euro in a year’s time, as it is expanding its operations here especially in software development.
The Lighthouse IP Group, headquartered in The Netherlands consists of four companies focusing on various aspects of Intellectual Property.
Lighthouse Intellectual Property is active in the field of visualization and analysis of information from Intellectual Property (IP) including the translation and development of tools. Through its tools and solutions Lighthouse Intellectual Property offers comprehensive and understandable insight in the value of corporate IP.
Lighthouse IP Consultancy is a specialized consultancy firm focusing on the use of Intellectual Property within medium sized enterprises. Its main activities are in the field of risk analysis, knowledge protection, knowledge and corporate continuity and the effective use of IP in reaching strategic corporate goals.
Lighthouse IP Staffing is a service organization aiming at staffing of IP related jobs. The services include recruitment of IP staff, providing a platform for exchange of vacancies, outplacement, training and education, candidate selection and career management.
To date, the Cebu office has maintained 12 software developers and it targets to employ a total of 50 programmers or software developers here in the next few months, said Christa Deinum, Lighthouse senior vice president.
Also, the company is planning to expand its data processing operations here, aside from the software development.
The company’s software development arm the Lighthouse Software Europe (LSE). LSE is a software development company specialized in developing software through its outsourcing center in China and recently in Cebu.
The Cebu operations in software development will also focus on growing its Web Solutions group in the next 10 to 15 years.
In the last couple of years, Cebu's software development sector generated about an average US$60 million a year. This year, this figure is expected to double.
Source: The Freeman Cebu
The availability of good software developers and impressive government support for outsourcing investors in Cebu has pushed the company to choose Cebu as its second location in Asia, said Willem-Geert Lagemaat the company’s chief executive officer (CEO).
“We’re here because we need a qualified team. So far we have found very good people. Culturally, it’s much easier to operate here [compared to people in China],” Lagemaat said referring to the good English speaking manpower pool.
The company set up the Lighthouse Software Cebu Inc., and started its initial operations in June of this year at the Asia Town IT Park.
This time, as the company decided to expand its operations in Cebu, and transferred location to a new building developed by AboitizLand Inc. called iMEZ at the Mactan Export Zone (MEZ-2).
Lighthouse Holdings already invested at least P17 million (or 250,000 Euro) since its establishment in Cebu. However, Lagemaat said the company is expecting to invest more to one million Euro in a year’s time, as it is expanding its operations here especially in software development.
The Lighthouse IP Group, headquartered in The Netherlands consists of four companies focusing on various aspects of Intellectual Property.
Lighthouse Intellectual Property is active in the field of visualization and analysis of information from Intellectual Property (IP) including the translation and development of tools. Through its tools and solutions Lighthouse Intellectual Property offers comprehensive and understandable insight in the value of corporate IP.
Lighthouse IP Consultancy is a specialized consultancy firm focusing on the use of Intellectual Property within medium sized enterprises. Its main activities are in the field of risk analysis, knowledge protection, knowledge and corporate continuity and the effective use of IP in reaching strategic corporate goals.
Lighthouse IP Staffing is a service organization aiming at staffing of IP related jobs. The services include recruitment of IP staff, providing a platform for exchange of vacancies, outplacement, training and education, candidate selection and career management.
To date, the Cebu office has maintained 12 software developers and it targets to employ a total of 50 programmers or software developers here in the next few months, said Christa Deinum, Lighthouse senior vice president.
Also, the company is planning to expand its data processing operations here, aside from the software development.
The company’s software development arm the Lighthouse Software Europe (LSE). LSE is a software development company specialized in developing software through its outsourcing center in China and recently in Cebu.
The Cebu operations in software development will also focus on growing its Web Solutions group in the next 10 to 15 years.
In the last couple of years, Cebu's software development sector generated about an average US$60 million a year. This year, this figure is expected to double.
Source: The Freeman Cebu
First creative social enterprise opens in Cebu
CEBU, Philippines - Putting aside the main purpose of business and focusing on the help they could bring to the community, a new kind of enterprise recently opened in Cebu, which is a first of its kind in the city.
Anthill Fabric Gallery is defined by Anya Lim, the Chief Operating officer and General Manager, “as a revolutionary fabric retail concept, an art gallery and a social enterprise rolled into one hub.”
The gallery is the first creative social enterprise and lifestyle store in the city said Lim wherein they bring into one ingenuity, fashion, culture, advocacy and art. It features different and special textiles from Asia and also highlights the beauty of intricate woven indigenous fabrics from the Philippine hill tribes.
“In this shop, fabrics are more than just rolls of cloth. Anthill houses the utilization of fabrics for artistic endeavors and innovative executions transforming fabric into art,” explained Lim who shared that they not only feature creativeness but their main purpose is to help people who have the capacity to use their art to earn for a living.
Lim explained that their gallery has three major brands that reflect their business model namely Fabric Sugar Rush, The Indie Workers Trail and The Colony.
The Fabric Sugar Rush is the main gallery choices of special fabrics with a different rare and vintage prints and classic plains while The Indie Workers Trail are choices of vibrant weaves and indigenous fabrics which products help make the livelihood of women weavers in indigenous tribes more sustainable, and eventually contribute to the preservation of their local craft. “The Colony is a special chamber in the store were young entrepreneurs are given a venue to jumpstart their businesses. This section is a way to celebrate the entrepreneurial minds and creative spirit of the Cebuano.”
Lim explained that the gallery is aimed “to give back to the community as it supports income generation among young entrepreneurs and rural communities especially indigenous tribes all over the country. It is a human collaboration of hard work and passions all intertwined in one shared dream.”
Anthill formally opened with the presence of 12 local painters and 14 of Cebu’s young fashion designers that will show of their works as they march along the celebration dubbed as “where culture meets style.”
The designers will show of designs in the “Indie goes Urban” Fashion Show that advocates “sustainable style for the 21st century woman that will give sustainable life for women weavers.” The Artists and sculptors will also feature their works as they collaborate art in one contemporary exhibit- Co[Operation].
“When you enter this nest where ingenuity, fashion, culture, advocacy and art are ingeniously interwoven, you will never see a work of art and a piece of cloth the same way again,” Lim said.
Source: The Freeman Cebu
Anthill Fabric Gallery is defined by Anya Lim, the Chief Operating officer and General Manager, “as a revolutionary fabric retail concept, an art gallery and a social enterprise rolled into one hub.”
The gallery is the first creative social enterprise and lifestyle store in the city said Lim wherein they bring into one ingenuity, fashion, culture, advocacy and art. It features different and special textiles from Asia and also highlights the beauty of intricate woven indigenous fabrics from the Philippine hill tribes.
“In this shop, fabrics are more than just rolls of cloth. Anthill houses the utilization of fabrics for artistic endeavors and innovative executions transforming fabric into art,” explained Lim who shared that they not only feature creativeness but their main purpose is to help people who have the capacity to use their art to earn for a living.
Lim explained that their gallery has three major brands that reflect their business model namely Fabric Sugar Rush, The Indie Workers Trail and The Colony.
The Fabric Sugar Rush is the main gallery choices of special fabrics with a different rare and vintage prints and classic plains while The Indie Workers Trail are choices of vibrant weaves and indigenous fabrics which products help make the livelihood of women weavers in indigenous tribes more sustainable, and eventually contribute to the preservation of their local craft. “The Colony is a special chamber in the store were young entrepreneurs are given a venue to jumpstart their businesses. This section is a way to celebrate the entrepreneurial minds and creative spirit of the Cebuano.”
Lim explained that the gallery is aimed “to give back to the community as it supports income generation among young entrepreneurs and rural communities especially indigenous tribes all over the country. It is a human collaboration of hard work and passions all intertwined in one shared dream.”
Anthill formally opened with the presence of 12 local painters and 14 of Cebu’s young fashion designers that will show of their works as they march along the celebration dubbed as “where culture meets style.”
The designers will show of designs in the “Indie goes Urban” Fashion Show that advocates “sustainable style for the 21st century woman that will give sustainable life for women weavers.” The Artists and sculptors will also feature their works as they collaborate art in one contemporary exhibit- Co[Operation].
“When you enter this nest where ingenuity, fashion, culture, advocacy and art are ingeniously interwoven, you will never see a work of art and a piece of cloth the same way again,” Lim said.
Source: The Freeman Cebu
Cebu gears up for tourist influx in 2010
While the global economic turmoil failed to shutdown growth of Cebu’s tourism industry, the anticipated slow recovery of international tourists will bring Cebu’s tourism at its peak starting 2010.
In fact, tourism stakeholders are already bracing themselves for the influx of foreign tourists, by adding more products and come-ons, expanding room accommodations, and boosting marketing efforts.
DOT figure showed that Cebu is the second most visited tourist destination
with 830,599 visitors, claiming 23 percent share of total arrivals.
Cebu continues to be the top destination for foreign tourists with 321,116 in the first semester.
Department of Tourism (DOT) secretary Joseph Ace Durano said that the expansion in air access from major tourist markets, including the new charter flights from Incheon, Busan, Shanghai, Guangzhou, and Kaohsiung as well as increase in room supply, aggressive promotion, public and private sector partnership to diversify the tourism products greatly contributed to the hike in visitor volume to Cebu.
As the year of the tiger—2010 enters, Durano said Cebu will continue to the one of top preferred destinations among foreign tourists, calling stakeholders to get ready for the influx.
Cebu’s tourism industry was able to manage an encouraging growth in 2009 amid the depressed economic landscape as it immediately captured the interest of the active domestic market.
Cebu City Marriott Hotel posted an improving occupancy rate towards the end of 2009, an indication that local tourism is on its way to recovery starting 2010.
The hotel’s general manager Roy Abraham reported that the premier business hotel in the City registered an average occupancy rate of 70 percent, higher than the industry rate.
According to Abraham the year 2009 started with weak occupancy turn out due to the effect of global recession, but starting third quarter of this year guests traffic started to pick up.
Generally, he said the economy is starting to recover, “US economy is starting to pick up.” Abraham added that indication of the recovery has already started and people are already starting to travel.
Record from the DOT-7 as of third quarter of 2009 showed that a total of 748,861 domestic tourists visited the region for the period, a 5.4 percent up from the 710,763 recorded in the same period of last year.
“The domestic travelers have been a key market for the Philippines especially with the onset of the global financial crisis where international market was slow,” said Tourism senior adviser Phineas Alburo.
Alburo credited the positive development in the domestic tourism activities to the active promotions of the department on Cebu’s leisure market.
He said aside from the province’s white beaches and world class resorts, the DOT has also positioned Cebu as a destination for Island Hopping, bird watching, diving, kayaking and other adventure type activities.
This year, despite the “perceived” financial difficulties, more Filipinos are traveling in the intra-country destination, and Cebu is one in the “top of the list” among Filipino travelers.
Tourism advocate and chairman for Cebu Visitors Convention Bureau (CVCB) Jay P. Aldeguer expects Cebu to lead the tremendous growth of the country’s tourism in 2010, helping the country hit the 5-million arrival target.
“Domestic tourism will continue to grow and still cushion the slow down in international travel,” Aldeguer said.
However, he said that the year 2010 “we should see some foreign markets return to normal as some economies around the globe are showing signs of recovery.”
In the national front, as the global outlook for tourism is going upward, the Philippine tourism industry is looking at a much brighter 2010.
“Throughout the global crunch, Philippine tourism remained optimistic and adaptive to the challenges. Being a key driver for economic growth in the country, the tourism industry continues to carry a positive outlook.
In spite of the difficulties, the sector continued to be strong because the over-all focus is on opportunities instead of the threats,” said Durano.
Durano made this positive pronouncement of the Philippine tourism trade following the release of Euromonitor’s International’s report, a market research group based in the United Kingdom, which said that 2010 is a better year for the tourism sector, citing new opportunities and innovation, and suggesting pro-active measures to reverse the slump to continue recovery.
Euromonitor International, recently released the World Travel Market (WTM) Global Trends Report, which extensive outlook is supported by the report by the latest edition of the UNWTO World Tourism Barometer, which indicated that “the rate of decline has eased from January to August of 2009,” and stated that a “moderate growth can be expected” for the following years.
The reports estimate that global travel bookings will pick up steadily in 2010 after ‘a challenging year,’ dotted with a change in the travel landscape in light of the global scenario.
According to the UNWTO’s initial forecast for 2010, “International tourist arrivals are likely to witness a moderate recovery next year, with 1-3 percent growth..
This outlook reflects the gradual improvement of international tourism figures in recent months, as well as the better-than-expected economic indicators in some major source markets.
The report further emphasized that, “Asia will show the strongest rebound, while Europe and the Americas will probably take longer to recover.”
Source: The Freeman Cebu
In fact, tourism stakeholders are already bracing themselves for the influx of foreign tourists, by adding more products and come-ons, expanding room accommodations, and boosting marketing efforts.
DOT figure showed that Cebu is the second most visited tourist destination
Cebu continues to be the top destination for foreign tourists with 321,116 in the first semester.
Department of Tourism (DOT) secretary Joseph Ace Durano said that the expansion in air access from major tourist markets, including the new charter flights from Incheon, Busan, Shanghai, Guangzhou, and Kaohsiung as well as increase in room supply, aggressive promotion, public and private sector partnership to diversify the tourism products greatly contributed to the hike in visitor volume to Cebu.
As the year of the tiger—2010 enters, Durano said Cebu will continue to the one of top preferred destinations among foreign tourists, calling stakeholders to get ready for the influx.
Cebu’s tourism industry was able to manage an encouraging growth in 2009 amid the depressed economic landscape as it immediately captured the interest of the active domestic market.
Cebu City Marriott Hotel posted an improving occupancy rate towards the end of 2009, an indication that local tourism is on its way to recovery starting 2010.
The hotel’s general manager Roy Abraham reported that the premier business hotel in the City registered an average occupancy rate of 70 percent, higher than the industry rate.
According to Abraham the year 2009 started with weak occupancy turn out due to the effect of global recession, but starting third quarter of this year guests traffic started to pick up.
Generally, he said the economy is starting to recover, “US economy is starting to pick up.” Abraham added that indication of the recovery has already started and people are already starting to travel.
Record from the DOT-7 as of third quarter of 2009 showed that a total of 748,861 domestic tourists visited the region for the period, a 5.4 percent up from the 710,763 recorded in the same period of last year.
“The domestic travelers have been a key market for the Philippines especially with the onset of the global financial crisis where international market was slow,” said Tourism senior adviser Phineas Alburo.
Alburo credited the positive development in the domestic tourism activities to the active promotions of the department on Cebu’s leisure market.
He said aside from the province’s white beaches and world class resorts, the DOT has also positioned Cebu as a destination for Island Hopping, bird watching, diving, kayaking and other adventure type activities.
This year, despite the “perceived” financial difficulties, more Filipinos are traveling in the intra-country destination, and Cebu is one in the “top of the list” among Filipino travelers.
Tourism advocate and chairman for Cebu Visitors Convention Bureau (CVCB) Jay P. Aldeguer expects Cebu to lead the tremendous growth of the country’s tourism in 2010, helping the country hit the 5-million arrival target.
“Domestic tourism will continue to grow and still cushion the slow down in international travel,” Aldeguer said.
However, he said that the year 2010 “we should see some foreign markets return to normal as some economies around the globe are showing signs of recovery.”
In the national front, as the global outlook for tourism is going upward, the Philippine tourism industry is looking at a much brighter 2010.
“Throughout the global crunch, Philippine tourism remained optimistic and adaptive to the challenges. Being a key driver for economic growth in the country, the tourism industry continues to carry a positive outlook.
In spite of the difficulties, the sector continued to be strong because the over-all focus is on opportunities instead of the threats,” said Durano.
Durano made this positive pronouncement of the Philippine tourism trade following the release of Euromonitor’s International’s report, a market research group based in the United Kingdom, which said that 2010 is a better year for the tourism sector, citing new opportunities and innovation, and suggesting pro-active measures to reverse the slump to continue recovery.
Euromonitor International, recently released the World Travel Market (WTM) Global Trends Report, which extensive outlook is supported by the report by the latest edition of the UNWTO World Tourism Barometer, which indicated that “the rate of decline has eased from January to August of 2009,” and stated that a “moderate growth can be expected” for the following years.
The reports estimate that global travel bookings will pick up steadily in 2010 after ‘a challenging year,’ dotted with a change in the travel landscape in light of the global scenario.
According to the UNWTO’s initial forecast for 2010, “International tourist arrivals are likely to witness a moderate recovery next year, with 1-3 percent growth..
This outlook reflects the gradual improvement of international tourism figures in recent months, as well as the better-than-expected economic indicators in some major source markets.
The report further emphasized that, “Asia will show the strongest rebound, while Europe and the Americas will probably take longer to recover.”
Source: The Freeman Cebu
In Cebu this 2010 Innoland to invest in big projects
CEBU, Philippines - The promising outlook for real estate sector in Cebu has prompted a Cebuano capitalist group to put its focus on the industry and readies to invest at least close to a billion pesos this year.
The company that developed three buildings, two of which are BPO buildings, the Sykes building and TG Universal (TGU) Building at the Asiatown IT Park, has created Innoland Development Corporation to pursue its active real estate developments for Cebu in the next few years.
At least three more big projects will be introduced by the new company within this year, one of which will be started before the May elections, said Innoland chief operating officer (COO) Charles Ong.
“These will be high-breed projects, something different for Cebu,” said Ong during the formal opening of the 16-story TGU Building at the Asiatown IT Park.
According to Ong, the company has positive outlook for Cebu’s real estate sector, “there’s a room for growth in the long term. Besides, we feel the passion to contribute to Cebu’s economy.”
The group, which is led by its chief executive officer (CEO) Joy Anthony Ong, expressed its seriousness in venturing into the real estate development for Cebu, and ultimately ventures projects in other regions, after building its name here.
In fact, Innoland consultant Tetta Ba-ad said the company is planning to enter into IPO (Initial Public Offering) for a long-term plan.
This new real estate development brand, although has not divulge the kind of projects it is going to venture into in the next couple of months, Ong only said that one of the projects will be the creation of a full-“green building” that will get and international accreditation for environment friendly building.
The first project that will be started by the company in the next couple of months will be located in a 3,000 square-meter lot at the Asiatown IT Park. However, the group has not divulged the full description of the kind of project.
Innoland has done extensive research and feasibility study for Cebu real estate sector. “The market is different now—sophisticated, tech-savvy, well informed, and conscious of the environment,” Ong said.
Thus, the company’s line of projects will incorporate the different need for today’s market.
According to Ba-ad, Innoland will not only concentrate in building projects contained in the urban areas in Cebu, but eventually it will also look at possibilities of developing other projects, such as resorts, residential, among others.
The company, is constantly on the look out for more opportunities to develop more real estate projects in Cebu, aside from the identified three projects that will be introduced under the Innoland brand in the next few months.
The group behind the InnoLand, is the same group that developed the Sykes Building in Mabolo, TGU Building. This time, the group has decided to put their future developments into one brand, indicating its seriousness in entering in full-time into the real estate business.
Innoland strives not only to create living and working spaces, but projects that are tempered buy respect for nature and environment. “Sustainability will be an important consideration in the design and implementation of our projects,” Ong concluded.
Source: The Freeman Cebu
The company that developed three buildings, two of which are BPO buildings, the Sykes building and TG Universal (TGU) Building at the Asiatown IT Park, has created Innoland Development Corporation to pursue its active real estate developments for Cebu in the next few years.
At least three more big projects will be introduced by the new company within this year, one of which will be started before the May elections, said Innoland chief operating officer (COO) Charles Ong.
“These will be high-breed projects, something different for Cebu,” said Ong during the formal opening of the 16-story TGU Building at the Asiatown IT Park.
According to Ong, the company has positive outlook for Cebu’s real estate sector, “there’s a room for growth in the long term. Besides, we feel the passion to contribute to Cebu’s economy.”
The group, which is led by its chief executive officer (CEO) Joy Anthony Ong, expressed its seriousness in venturing into the real estate development for Cebu, and ultimately ventures projects in other regions, after building its name here.
In fact, Innoland consultant Tetta Ba-ad said the company is planning to enter into IPO (Initial Public Offering) for a long-term plan.
This new real estate development brand, although has not divulge the kind of projects it is going to venture into in the next couple of months, Ong only said that one of the projects will be the creation of a full-“green building” that will get and international accreditation for environment friendly building.
The first project that will be started by the company in the next couple of months will be located in a 3,000 square-meter lot at the Asiatown IT Park. However, the group has not divulged the full description of the kind of project.
Innoland has done extensive research and feasibility study for Cebu real estate sector. “The market is different now—sophisticated, tech-savvy, well informed, and conscious of the environment,” Ong said.
Thus, the company’s line of projects will incorporate the different need for today’s market.
According to Ba-ad, Innoland will not only concentrate in building projects contained in the urban areas in Cebu, but eventually it will also look at possibilities of developing other projects, such as resorts, residential, among others.
The company, is constantly on the look out for more opportunities to develop more real estate projects in Cebu, aside from the identified three projects that will be introduced under the Innoland brand in the next few months.
The group behind the InnoLand, is the same group that developed the Sykes Building in Mabolo, TGU Building. This time, the group has decided to put their future developments into one brand, indicating its seriousness in entering in full-time into the real estate business.
Innoland strives not only to create living and working spaces, but projects that are tempered buy respect for nature and environment. “Sustainability will be an important consideration in the design and implementation of our projects,” Ong concluded.
Source: The Freeman Cebu
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