Day: November 26, 2014

Get the best of glamorous Beverly Hills living in the South

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The South is in for a brand of Beverly Hills chic and glamour with Alabang West, the latest development of Global-Estates Resorts, Inc., a subsidiary of the country’s leading real estate developer, Megaworld. Alabang West will integrate a Beverly Hills-themed lifestyle into its commercial, retail and residential developments that will be beside the booming business and commercial district in the South. Residents will have the poshest amenities together with world-class shopping boutiques right in one neighborhood.

“Soon to rise will be a themed township that highlights the best of Hollywood, specifically Beverly Hills. We envision this development to be the next big thing in Alabang,” says Jericho P. Go, senior vice president, Megaworld, in his review of the development.

Shopaholics, foodies, and fashion forward clients will surely be satisfied as complementing their posh neighborhood will be a world-class shopping strip. The 1.3-kilometer commercial and retail row, Rodeo Drive, will be inspired by its original counterpart in Beverly Hills and will also be lined with palm trees.

“People can get the best of gourmet, fashion, and boutique finds in Rodeo Drive,” says Rachelle Peñaflorida, vice president for sales and marketing, Megaworld Global-Estate, Inc. “This will be the newest shopping hub in the South, and lifestyle mavens will surely enjoy the myriad offerings of Rodeo Drive.”

The best amenities await those who would be living at Alabang West. An infinity/wading pool, cabanas, open space parks, a fitness center and two-story clubhouse are just some of what’s in store for clients.

Alabang West is another world-class project of Global Estate Resorts, Inc. that offers residents an instant celebrity feel while they live, work, play and learn inside the exclusive township. It will be located along Daang Hari in Las Piñas City. As an exclusive village among the elite, Alabang West has allotted 788 available lots that range from 250 to 800 square meters each, with a provision to combine.

A high-end neighborhood awaits clients of Alabang West. True to LIVE-WORK-PLAY-LEARN, clients can have a well-rounded, dynamic lifestyle at this posh neighborhood in the South.

Alabang West is Megaworld’s 15th township in its portfolio which includes the 18-hectare Eastwood City in Quezon City, which is the country’s first cyberpark; 25-hectare Newport City in Pasay City, home of Resorts World Manila; 34.5-hectare McKinley West, 50-hectare McKinley Hill, 15.4-hectare Uptown Bonifacio and 5-hectare Forbes Town Center in Fort Bonifacio; 28.8-hectare The Mactan Newtown in Lapu-Lapu City, Cebu; the 72-hectare Iloilo Business Park in Iloilo, 12.3-hectare Woodside City in Pasig; and 11-hectare Davao Park District in Davao; as well as the 350-hectare Suntrust Ecotown, under its wholly-owned subsidiary Suntrust Properties, Inc. and GERI’s 561-hectare Southwoods City in the boundaries of Cavite and Laguna; 150-hectare Boracay Newcoast in Boracay Island; and the 1,300-hectare Twin Lakes in Tagaytay.

Security Bank receives highest distinction from Corporate Governance Asia

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Corporate Governance Asia, considered as the authoritative voice in corporate governance practices in the region, recognized Security Bank Corporation with two key awards during The Best of Asia 2014 awards night held on October 24, 2014 at the Renaissance Harbour View Hotel, Wanchai, Hong Kong.

During the 10th Corporate Governance Asia Recognition Award 2014, Security Bank was awarded as Icon on Corporate Governance. This distinction – the highest accolade given by the award-giving body – is bestowed to companies who have consistently made it to the honor roll of the annual awards for Excellence in Corporate Governance. For the past four years, Security Bank has consecutively won the much-coveted distinction, which belongs to “the best of the best in corporate governance in Asia as they uphold the highest standards in business practices”.

In the same awards night, Security Bank Chairman Frederick Y. Dy was recognized as Asian Corporate Director of the Year. The award honors outstanding corporate directors from boards of public and private companies in Asia who have guided their boards and executive management in growing their businesses, maintaining ethics and steering their companies to periods of extraordinary growth.

Security Bank recently reported its 2014 third quarter financial results, showing Php 6.428 billion in net income in the first nine months of the year, representing 54% year-on-year growth and 20% return on shareholders’ equity (ROE). The bank posted solid growth in core business, with loan portfolio increasing by 25% year-on-year to Php 181 billion and deposits growing by 26% to Php 232 billion.

For the past 11 years, Corporate Governance Asia has recognized companies in the region who continue to lead the way in initiating best practices. It provides news and analyses on corporate governance issues, boardroom practices and shareholder activism.

Metrobank’s 9-Month Income Hits P13.1 Billion

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Metropolitan Bank & Trust Company (Metrobank) reported unaudited consolidated net income of P13.1 billion for the first nine months of 2014. The Bank booked P4.0 billion net income in the third quarter, 57% higher compared with the same period last year.

Year-to-date net interest income increased 23% to P34.0 billion, and contributed 64% to the P53.0 billion total operating income. This was driven by the better-than-expected growth in loans and deposits, and relatively healthy spreads. For the period, net interest margin (NIM) was maintained at the 3.8% level, one of the highest in the industry.

Metrobank President Fabian Dee commented: “The robust core income growth reflects positively on our strategy. Our thrust is to maximize returns from traditional revenue sources while prudently managing balance sheet growth.”

At the end of September 2014, Metrobank’s loans and receivables portfolio expanded by 21% year-on-year to P697.3 billion. Demand was particularly strong from commercial clients, including middle market and SMEs. On the other hand, reflective of the Bank’s push for low cost funding, total deposits sustained its high growth rate of 23% to reach P1.1 trillion. The Group opened 31 local branches this year to bring the total to 887, still the largest in the industry.

President Dee elaborated further: “We remain optimistic about the prospects of the domestic economy. We are continuously building our capabilities, and we will accelerate our expansion into new growth areas, increase sales coverage and strengthen client relationships to ensure sustainable profitability and capital efficiency.”

Meanwhile, the Bank reported P19.0 billion in non-interest income consisting of P6.6 billion in service charges and commissions, P1.5 billion from trading and forex gains, and miscellaneous income of P10.9 billion. This included proceeds from property divestments and sale of non-core assets in the first and third quarter, respectively, which were done in preparation for Basel III.

Operating expense was kept at a reasonable level with recurring expenses up 7% for the period. Provisions for credit and impairment losses were lower by 17% year-on-year at P3.3 billion.

Asset quality continues to improve as non-performing loans (NPL) ratio dropped further to 1.1% from 1.4% as of the same period last year. NPL coverage increased to 169% from 140% previously.

Metrobank ended the period with consolidated assets reaching P1.5 trillion and total equity of P142.2 billion. Basel III capital adequacy ratio (CAR) remained well above the regulatory requirements at 16.2% with common equity tier 1 (CET1) at 12.1%.a

#IJAsia14 ends, but solidarity sparks new beginnings for Asia

Julius Mariveles Leave a comment

SALAMAT PO. Domo arigato. Terimah Kasih. Thank you.

More than 300 delegates from 33 countries, 30 learning sessions, countless ideas, and stronger solidarity among journalists – all these in only two days.

Even good things must come to end. Or better still, spark new beginnings.

For starters, we are now taking small, steady steps to give birth to an Investigative Journalism Network for Southeast Asia, while our colleagues in South Asia, and in China and Hong Kong press on with parallel efforts at collaboration.

The editors and staff of the PCIJ would like to thank all those who have been part of Uncovering Asia: The First Asian Investigative Journalism Conference.

THank you, too, for the trust and friendship that the Global Investigative Journalism Network and all of you have reposed in PCIJ.

We hope to see you all again, online or in the next conference.

To know more about the PCIJ, we invite you to view this video short.

Mornings with Sandok Comfort Food

Eric Leave a comment

It all started with one facebook ad. I read, got interested in and ultimately mornings has never been the same again.

Welcome to Sandok Comfort Food. A new restaurant located along 6th street Bacolod City That serves good old Ilonggo homecooked meals.

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The interiors are quite homey. With quotes from popular food writer Julia Child hanging on the wall. Ahh the placemat, too! Who wouldn’t dare noticce the lovely piece full of food quotes! I can just easily pretend I’m in a Julie and Julia movie.

The first time I went to Sandok I was so clueless of what to order. The menu written in blackboard adds more charm.

Finally i opted for bacon tapa with sunny side up. Tapa is a popular Filipino breakfast fare similar to beef jerky. Best when paired with fried or garlic rice.

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Sandok’s version of tapa is so thin and dry, unloke Manila’s version which is cooke with some sau e on it. The tapa is somewhat Similar to bacon. Well marinated in salt pepper and spices and sun dried to achieve that perfect crunch.
It’s so good. It reminds me of my early childhood days when the smell of deep fried tapa is wafting through the air eveytime i wake up in the morning. I love it. Period.

And one good meal deserves another, right? So in the following days of my month long stay in bacolod i went back to Sandok for my breakfast fix. This time i ordered chunky corned beef and garlic rice.

Sun dried tapa

Sun dried tapa

This time I hit the jackpot. It was a eureka moment. Finally I found the best corned beef in Bacolod! Their corned beef is homemade and is oozing with all the juices. The level of saltiness is just right. So in the next few days i just had corned beef corned beef and more corned beef.

On my last day in Bacolod, just a few hours before I flewback to the Metro I went back to Sandok for lunch. I had Manok sa ubad soup with rice on the side. The servings are large the soup is good for two persons already.

Chunky corned beef

Chunky corned beef

Sandok also serves other Ilonggo homecooked dishes like KBL (Kadios Baboy Langka), kansi and dinuguan and to make the menu exciting they also offer menu of the week. When i wwnt there for lunch I was supposed to try their burger steak menu of the week. Unfortunately they ran out of gravy sauce. Awwww. Maybe next time

But for now you know where to find me when Im craving for good homecooked meals. Sandok is located along 6th street. In front of sophia’s bakery and City Lunch. They are open 7am-8pm and closed on Sundays.
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