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VICSAL GROUP ACQUIRES LAND IN MEGAWORLD’S ILOILO BUSINESS PARK
Metro Retail Stores Group to build new concept of supermarket, department store in the township MANILA, Philippines, August 5, 2015 – Metro Retail Stores Group, Inc., the retail arm of the Vicsal Group of Companies, has acquired around 9,000 square meters of commercial property inside the Iloilo Business Park, Megaworld’s integrated urban township in Mandurriao, Iloilo City. The Gaisano-led company is bringing its Metro retail store formats – Metro Department Store and Metro Supermarket - into the township, which is located along Megaworld Boulevard, just between Richmonde Hotel Iloilo and the Festive Walk Mall. “We are proud to have cemented a formidable partnership with Megaworld Corporation, one of the country’s most reputable developers, and we look forward to realize synergies from this strategic alliance. As a retail industry leader, Metro’s linkage with property developers is crucial to our success, and this partnership will be mutually beneficial as both Megaworld and Metro move towards aggressive expansion,” says Frank Gaisano, chairman and CEO, Metro Retail Stores Group, Inc. “We welcome companies like the Metro Retail Stores
Group, Inc. to the Iloilo Business Park. As one of the largest retail chains in the Visayas, they will be able to provide a wide variety of retail offerings to the growing population of the township,” says Kevin L. Tan, first vice president and head of commercial, Megaworld. Once completed, the 72-hectare Iloilo Business Park is envisioned to be the center of business, tourism and lifestyle in Region 6. Aside from the Metro retail outlets, the township will also be home to two firstclass business hotels: the Richmonde Hotel Iloilo and Courtyard by Marriott; the Iloilo Convention Center which will be the biggest convention facility in the region once completed; luxury residential condominiums; state-of-the-art BPO office towers; the 1.1-kilometer Street of Festive Walk, which will be the longest commercial and retail strip in VisMin; a 9-hectare commercial and boutique hotel
Executives of property giant Megaworld and Metro Retail Stores Group, Inc. during the signing of the agreement. (From left to right) Kevin L. Tan, first vice-president and head of commercial division, Megaworld; Lourdes GutierrezAlfonso, chief operating officer, Megaworld; Frank S. Gaisano, chairman and CEO, MRSGI; and Arthur Emmanuel, president and chief operating officer, MRSGI. photo supplied
district; as well as leisure and recreational parks and amenities. In the next three years, the township will be home to around 40,000 business
process outsourcing (BPO) workers, making it the biggest BPO hub in Western Visayas. “The businesses that will rise in Iloilo Business Park
AEV and BPI achieve third largest corporate bond issue in the Philippines MAKATI CITY, Metro Manila -- Aboitiz Equity Ventures (AEV) is set to list its second retail bond offering on August 6, 2015, raising P24 billion, making it the largest retail bond offering this year to date and double the size of the next largest issue of the year. The bonds were offered in three tranches, with tenors of 5.25 years (Series A Bonds), 7 years (Series B Bonds) and 12 years (Series C Bonds). BPI Capital Corporation (BPI Capital) acted as the Sole Issue Manager and BPI Asset Management and Trust Group as Trustee for the transaction. The bonds were priced with a coupon rate of 4.4722% for the Series A Bonds, 5.0056% for the Series B Bonds, and 6.0169% for the Series C Bonds. The total order book was over P27 billion, or an oversubscription level of 2.7x, well in excess of the initial intention of a P10 billion base issue size. The issue size also makes it the third largest corporate bond issue to date in the Philippine domestic bond market. Market demand for the offer was very strong given the attractiveness of
AEV’s credit profile and the current high level of liquidity in the domestic bond market, as well as BPI Capital’s proficient management of the book building process. Significantly, the order book was more evenly distributed between tenors than what has been achieved in most other multi-tranche issues. The issue generated over P10 billion in the 5-year tranche, over P8 billion in the 7-year tranche, and over P5 billion in the 12-year tranche, allowing AEV to achieve an average maturity of over seven years for the entire issue. The 12year tranche represents the longest maturity bond raised so far this year. The bank maintains its long-standing relationship with the respected Aboitiz Group with major investments in power, banking, food, and land. AEV, the investment company of the Aboitiz Group, has been recognized as one of the best-managed companies in the Philippines and in the region. Among AEV’s subsidiaries are AboitizPower, UnionBank, Pilmico, AboitizLand, and Aseagas. Recognized by FinanceAsia as the Best Investment
Bank in the Philippines for 2015, BPI Capital upholds its leadership in the banking and finance industry, making it the most trusted transaction advisor, credit sponsor, and financing originator partnering with the most respected businesses and corporations in the country. ABOUT BPI CAPITAL CORPORATION BPI Capital Corporation is a wholly-owned subsidiary of the Bank of the Philippine Islands (BPI), one of the largest, best capitalized universal banks with a complete set of financial products in the country. As the leading transaction advisor, credit sponsor, and financing originator, BPI Capital is the trusted financial partner to the most respected names with their most important financial transactions in the
Philippines. ABOUT BANK OF THE PHILIPPINE ISLANDS Bank of the Philippine Islands, the first bank in the Philippines and Southeast Asia, is a universal bank with an expanded banking license. Together with its subsidiaries, BPI offers a wide range of financial services from consumer banking and lending, asset management, securities brokerage and distribution, insurance, leasing, foreign exchange, and corporate and investment banking. BPI is a leader in Philippine banking, with its high market capitalization, strong Tier 1 capital adequacy ratio and healthy shareholder return, all promoted and supported by prudent management. BPI is rated investment-grade by the international ratings agencies.
will certainly benefit from the growing population of the township. With the residential and BPO population alone, a ready market awaits our commercial and retail
partners such as the Metro Retail Stores Group, Inc. and those that will also open in our malls and commercial centers within the township,” explains Tan.
The fruits of attaining Education
By Sharon A. Montealto Librarian Misamis University
“The roots of education are bitter, but the fruit is sweet.” − Aristotle The stage of attaining knowledge is one important part of people’s lives. In this phase, they begin to understand the world they live in and their core purpose of living in this world. In learning, students seek out information. Education provide students opportunity to explore several great things such as history, literature, sports, math and art. Learning gives them the basic building blocks that will serve as foundation to succeed in later life. These building blocks - tools and skills - then will be their guide to improve their selves, including socioeconomic status. Tools and skills are necessary to get better jobs. Better
jobs will lead to a better quality of life. Education is also a way to discover personal interests among students. Interest is valuable for it is something that enhance individual and make him unique from others. Through interests, he learn to discover another side of him that makes him more productive and interesting. Interests are also matters that define his field especially in life and careers. Education is an essential part of intellectual freedom, and one of its main values is improving how students view, exist in and participate in the world. Because education is a social event for most people, it encourages sharing of ideas and experiences among students, which helps students become better members of the community by teaching morals, ethics and community responsibility.
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