As part of the MOU, Revolution may also deliver fashion designer homes and resort villas on 3,000 hectares of land underneath Bakrie Global’s affiliates in Indonesia, a challenge totaling $1.1 billion, according to CPG.

Revolution can even expand 5 studios and workplace and storage centers for Bakrie Global’s Mediapolis studio assignment in Jakarta.

“I am very pleased to have this framework of collaboration with Bakrie Global of Indonesia to broaden the Philippines’ first-ever Media City, Sports City, and Technological Corridor. This kind of synergy will assist build the Philippines’ competitive facet as a tourism and hospitality destination with present day media and tech abilties, as well as open a host of possibilities for enterprise and employment,” CPG Chairman and Chief Executive Officer Jose E.B. Antonio stated.

Bakrie Global CEO Anindya Novyan Bakrie introduced, “We are looking forward to creating relevant traits that address gift needs whilst contributing to the country-constructing of each international locations.”

“In its thrust to grow and amplify its commercial enterprise from custom precrafted dressmaker houses to developing meaningful public areas, Revolution Precrafted is fortunate to convey these 3 groups collectively to forge this multi-faceted synergy and cooperation for real estate, generation, sports and media,” Revolution’s Antonio stated. PLDT Inc. Stated it has stepped up the roll-out of fiber-to-the-domestic (FTTH) in key city centers, especially in Naga City because the first ‘Fibr City’ inside the place.

PLDT Home Fibr is now to be had to Nagueños, permitting them to experience excessive-pace same add and download speeds and a wide variety of compelling amusement and gaming content material from PLDT Home partners and famend carriers like Cignal TV, iflix, Netflix, Fox+ and iWant TV for P1,899 in step with month.

“We are doing this FTTH roll out in partnership with the Naga City government. This will benefit not only our PLDT Home subscribers but additionally help enterprise and trade on this leading urban of the Bicol location,” stated PLDT FVP and Head of Home Business Oscar Enrico A. Reyes, Jr. Strong partnerships are key to the boom of any predominant metropolis, and we’re venerated to have PLDT, the Philippines’ telco leader on our facet. Naga City is proud to be Fibr-powered,” Naga City Vice Mayor Nelson Legacion said.

To offer the cutting-edge telco and digital products and services to greater agencies and residents in Naga City, PLDT additionally opened its first Retail Store at Centro Square on Peñafrancia Avenue. The shop lets in customers to without delay revel in PLDT Home services and products.

“Customers will revel in unique features and modern services within the new PLDT Retail Store,” Reyes stated.

Its LPG commercial enterprise brought P22.08 billion in sales, contributing 94 percent to the consolidated revenues, which expanded by fifty seven percentage from the P1.32 billion recorded within the equal quarter ultimate year.

Pryce Corp. Said the economic gas products segment contributed four.6 percent of total revenues, whilst sales from the organization’s real estate and pharmaceuticals agencies contributed 1.15 percentage and zero.33 percentage, respectively.

Hotel operations ceased to make a contribution to sales starting within the first region of this 12 months due to the closure of the Pryce Plaza Hotel on December 31, 2016.

Owing to the higher CP of LPG as compared to identical quarter of 2016, gross margin dipped to 23 percentage in the first zone from 25 percentage a 12 months earlier, while running fees have been saved at eight.5 percent of revenues.
Pryce is a different employer that operates 12 memorial parks in most important towns in Mindanao and is likewise engaged in production, dispensing and advertising and marketing industrial gases and LPG beneath Pryce Gases Inc. And Oro Oxygen Corp. It additionally trades pharmaceutical merchandise thru Pryce Pharmaceuticals Inc. Listed developer Century Properties Group (CPG) announced in a assertion Monday that it has signed a memorandum of know-how (MOU) with Indonesia’s Bakrie Global Ventura for the development of 3 primary blended-use initiatives within the Philippines.

CPG stated that the MOU covers “mutual sharing of assets from allocating capital investments to the trade of know-how and competencies to establish a Media City, a Sports City, and a Technology Corridor inside the Philippines.”

The agency brought, “Century and Bakrie Global’s cooperation goals to broaden and make stronger the tourism and media generation sectors of each the Philippines and Indonesia.” The planned Media City might include residential and commercial tendencies, in addition to a “multi-media content improvement middle.”

The employer defined that Bakrie Global’s media and technology arm Visi Media Asia would provide broadcasting, programming, and content material creation sources as part of the joint challenge, with the intention of producing media content by and large for the Philippines and Indonesia markets.

The company’s declaration stated the proposed Sports City might provide a number of sports complexes for public use.

The Technology Corridor changed into defined with the aid of CPG because the “Philippines’ version of Silicon Valley in California.”
Under the agreement, CPG will provide the land for the three initiatives, in locations which can be but to be announced. Revolution Precrafted Properties Limited, a real estate tech agency shaped through CPG Managing Director Jose Roberto R. Antonio, will play a key role in conceptualizing the projects, CPG said.

Non-hobby income, consisting of securities buying and selling profits, declined to P1.Eight billion from P2.Four billion a 12 months in the past.
Its mortgage book grew 28 percent yr-on-year to P305 billion, at the same time as wholesale loans improved 26 percent. Consumer loans grew fifty one percent, at the same time as net interest margin was maintained at 3.1 percent.

The financial institution said its asset first-class remained healthy, with net non-acting loan (NPL) ratio at 0.14 percent, decrease than the zero.29 percent recorded a year in the past. It stated NPL reserve cowl remained excessive at 197 percentage as opposed to 171 percent a 12 months ago.

Deposits multiplied 34 percentage to P379 billion, at the same time as low-price deposits grew 19 percent. Its total belongings were at
P729 billion, up 41 percentage from the same period ultimate year.

The lender said its fee-to-earnings ratio remained at an efficient 47 percentage, at the same time as working fee increase fee, except provisions for possibly credit losses and impairments, turned into 18 percent

“We’re thrilled with the loan and deposit growth which has sustained internet hobby earnings boom. The Bank has been able to manage the value-to-income ratio within the midst of heavy investments in department network, information technology and those. These are investments for the future on the way to allow us to scale up the enterprise,” Security Bank President and Chief Executive Officer Mr. Alfonso Salcedo Jr. Said.

Security Bank stated it has effectively upgraded its core banking gadget as part of its technology transformation program. The new device, utilized by leading economic establishments globally, will allow the financial institution to roll out new products and services a good deal quicker, it stated.

On April 25, the corporation’s Board of Directors authorized a cash dividend of P1.50 consistent with proportion payable on May 25 this year to stockholders of record on May 11. LISTED diverse firm Pryce Corp. Said on Tuesday its net profits inside the first area of 2017 rose 53.6 percent to P301.7 million from P196.4 million a year earlier on the lower back of sturdy sales of cooking gas.

In a disclosure to the Philippine Stock Exchange (PSE), the organization said consolidated sales grew fifty two.3 percentage from a yr in the past on higher sales extent of liquefied petroleum fuel (LPG) and the sizable number of new LPG cylinders bought beneath the PryceGas brand of its subsidiary Pryce Gases, Inc. During the beyond yr.

Year-on-year extent rose 22.1 percentage to 49,560 metric lots in the first region from 40,583 MT last yr. However, contract charges (CP) of LPG also accelerated. From $408 consistent with MT in December 2016, LPG settlement prices rose to $477, $573, and $564 in line with MT in January, February, and March of 2017, respectively, the organization stated.

EXPANDING connectivity between ports inside the Southern Philippines and Indonesia with the latest inauguration of the Davao-General Santos-Bitung, Indonesia transport route will open links for tourism and change to countries along with Brunei and Malaysia, Tourism Secretary Wanda Tulfo-Teo stated on Tuesday.

On April 30, President Rodrigo Duterte hosted Indonesian President Joko Widodo on the inauguration of the roll-on-roll-off (RoRo) delivery route, which links the seaports of Davao City and Gen. Santos City to Bitung, Indonesia.

“After launching the RoRo journeys among the Davao and Gen. Santos City seaports and Bitung, Indonesia, RoRo journeys among Mindanao and Palawan seaports and people of Malaysia and Brunei will comply with,” Teo said. “Creating a network of sea routes among the country’s sea gateways and those of Asian friends is a have to to enhance up the u . S .’s tourism,” she brought. “Linking the seaports of Mindanao and Palawan with those of Indonesia, Malaysia and Brunei will increase the tourism alternate and cruise deliver industry, as well as alternate and maritime family members between the Southeast Asian nations.”

The new delivery direction, that is inside the Brunei Darussalam-Indonesia-Malaysia-Philippines East Asean Growth Area (BIMP-EAGA), is the Philippine government’s maiden accomplishment below its Asean chairmanship this 12 months.

Teo also said that the Duterte administration has mapped out plans for joint naval operations with Indonesia and Malaysia to at ease the maritime borders to guard the RoRo vessels and cruise deliver passengers.

In a joint statement on setting up direct sea connectivity, President Duterte and President Widodo agreed to provide naval escorts to the RoRo ships inside their respective jurisdiction. SECURITY Bank Corp. Pronounced a moderate drop in net income within the first region of this yr due to “heavy investments” in department network, facts generation and people, however it remained positive on its core business following its machine improve.

In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, Security Bank stated it published net income of P2.Eighty one billion inside the first three months of the year, down 6.4 percent from the P3 billion recorded in the same quarter remaining 12 months.

The financial institution stated net hobby profits multiplied 27 percentage to P4.4 billion from P3.Five billion a 12 months in the past, “which more than offset the decrease in non-interest earnings.”