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MINDANAO DAILY Brisk sales boost Ayala Land’s 2017 profit by 21% 100 thousand - 10 mil ion ‘No Collateral | No Co-Maker’
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Editor: ALLAN M. MEDIANTE
By Leslie Gatpolintan
MANILA -- Property giant Ayala Land Inc. (ALI) on Wednesday said its profit grew 21 percent to PHP25.3 billion in 2017, as property sales and leasing revenues picked up. Its net income reached PHP20.9 billion in 2016. Total revenues grew 14 percent to PHP142.3 billion last year from PHP124.6 billion the previous year, backed by substantial bookings and completion of its property development projects and expanding leasing business. Supporting its healthy topline was the resurgence of property sales in 2017, recording higher growth of 13 percent to PHP122 billion, a big jump from the 3-percent growth in 2016. ALI hastened its activities during the last quarter, ending 2017 with a total of PHP88.8 billion worth of residential and office condominium developments. This was complemented by the growing leasing revenues, which increased by 10 percent to PHP31 billion as the new malls, offices and hotels and resorts contributed more. “We are pleased with our 2017 business results. All major product lines posted strong growth, with property sales coming in at the higher end of our estimates and leasing income increasing in line with our planned asset build up,” said ALI President and Chief Executive Officer Bernard Vincent O. Dy. “Sound macroeconomic fundamentals continue to support the property sec-
tor. So we believe we are well positioned to benefit from the strength of our economy,” he said. 2017 was also a landmark year as ALI completed the most number of projects which helped expand its leasing capability. The company opened five malls with a combined gross leasable area (GLA) of 189,000 square meters (sqm), bringing the company’s shopping center GLA to 1.8 million sqm. The property firm completed six office buildings with a total GLA of 185,000 sqm, strengthening its hold in the office market segment, bringing the company’s total office GLA to 1.02 million sqm in 2017. Its hotels and resorts business added six new facilities in its roster, including Seda Vertis North with 438 rooms, the largest hotel under its own Filipinobranded hotel chain. As part of ALI’s innovative response to market needs, it introduced new leasing formats such as Clock In and The Flats. Clock In offers serviced offices with fully equipped and furnished spaces for start-up ventures while The Flats offers dormitory-type lodging for office workers. In 2017, ALI launched three ne w sustainable mixed-use estates set in Luzon, Visayas and Mindanao with a total area of 275 hectares. “As we expand our footprint in key geographical areas, we plan to reach more people and be part of nation-building by creating sustainable communities
Friday
BUSINESS
February 16, 2018
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President Rodrigo Roa Duterte Meets with Kuwait Ambassador to the Philippines, Rebel Returnees and Stakeholders from the Labor Sector President Rodrigo Roa Duterte convenes with the various government and non-government stakeholders from the labor sector at the Malacañan Palace on February 7, 2018. Among the issues discussed include the contractualizations, wage setting, government cash subsidy, the workers’ representation in Tripartite Bodies, recruitment and facilitation fees and freedom of association in economic zones. Joining the President is Labor and Employment Secretary Silvestre Bello III. richard madelo/presidential photo
Palace vows to help find jobs for OFWs from Kuwait
See profit, page 10
Malacañang has assured repatriated Filipino workers from Kuwait that the government would attend to their employment needs amid the President’s order to impose a total ban on their deployment to the Gulf nation. Presidential Spokesperson Harry Roque Jr. in a press briefing here explained President Rodrigo Duterte’s decision to ban Filipinos from seeking work in the Arab nation, following the
reported abuses of Kuwaiti employers against overseas Filipino workers (OFWs). “Siguro po itong major decision na ipagbawal ang deployment sa Kuwait ng ating mga Pilipinong kababayan ay patunay po na pinangangalagaan ng ating Pangulo ang seguridad at pagkatao ng ating mga Pilipinong kapatid,” Roque stressed. To address the plight of returning OFWs who will have to look for new jobs,
(UAE). Led by the DTI’s Center for International Trade Expositions and Missions (DTI-CITEM), in partnership with Philippine Trade and Investment Center Dubai (PTIC-Dubai), the Philippine delegation is keen to showcase the country’s top halal-certified, healthy and organic products, including fruits and vegetables, seafood and marine products, ethnic and gourmet selections, and other functional food and beverage products. Known as the world’s
biggest food and hospitality trade event, Gulfood is a one-stop platform for the latest tastes, trends and innovation in the international food industry. In 2017, the four-day event was participated in by around 5,000 companies and was attended by 97,000 trade buyers all over the world. With FoodPhilippines’ participation in the Gulfood 2018, DTI-CITEM is looking to rake in at least USD110-million export deals. Locals, visitors, and trade buyers from Muslim-
dominated nations such as the Saudi Arabia, United Arab Emirates (UAE), Qatar, Kuwait, Oman and Bahrain that are all part of the Gulf Cooperation Council (GCC) are expected to visit the said trade event. Saudi Arabia remains the largest food consuming GCC nation due to its large population base. The fastest growth rate for food consumption, however, is seen in Qatar and UAE with an annual growth of about 5.5 and 4.8 percent, respectively.
Roque said the national government has directed its missions to find alternative work for them, particularly in countries that are signatories to International Labour Organization (ILO) conventions protecting migrant workers’ rights. “Ang tinitingnan po natin, mga bansa gaya ng Oman at Bahrain na walang kahit anong reklamo pong pang-aabuso sa ating mga kapwa Pilipino,” he cited. The Spokesperson fur-
ther said those who voluntarily repatriated would receive P5,000 worth of immediate financial assistance, in addition to the P20,000 livelihood aid from the Overseas Workers Welfare Administration (OWWA). President Duterte ordered the ban of Filipino deployment to the Arab nation after the body of a migrant Filipina worker was found in a freezer. See jobs, page 10
23 PH firms join Gulfood 2018 in UAE Honda PH recalls 2013
MANILA -- In its effort to fully participate in the global Halal market, the Department of Trade and Industry is assisting 23 Philippine companies in showcasing the best of Philippine food products in Dubai from Feb. 18 to 21, 2018. The exhibition will be under the FoodPhilippines country pavilion at the 23rd edition of Gulfood, or the Gulf Food Hotel and Equipment Exhibition and Salon Culinaire, to be held at Sheikh Rashid Hall at the Dubai World Trade Center, United Arab Emirates
See join, page 10
models of City, Jazz, Pilot By Kris Crismundo
MANILA -- Honda Cars Philippines, Inc. (HCPI) is recalling a total of 9,951 vehicles from its 2013 models of City, Jazz, and Pilot due to airbag inflator error. In HCPI’s letter to the Department of Trade and Industry (DTI), the Japanese car company is recalling 8,520 units of Honda City Year Model 2013; 1,259 units of Honda Jazz Year Model 2013; and 172 units of Honda Pilot Year Model
2013. HCPI said it is conducting a preventive measure campaign and would replace the passenger side of airbag inflator. The company said the replacement would be for free. Car owners with those aforementioned models can bring their cars to HCPI’s 40 car dealers and service outlets nationwide. It said that the replacement of the airbag inflator See recalls, page 11