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  1. Join Date
    Jun 2007
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    2,854
    #51
    Well, the financial crisis is now affecting SMEs.....

  2. Join Date
    Sep 2003
    Posts
    23,288
    #52
    Financial crisis worrying the Big Boys...

    Property, retail barons review forecasts as global crisis hit OFWs

    In Manila's upscale business district of Makati, luxury flats are still fetching record prices, but the country's property barons are getting nervous as the financial crisis takes hold.

    Builders have already started to review their plans amid fears that the huge Filipino expatriate work force that last year sent home more than $14 billion, could shrink as jobs are lost in the recession-hit West.

    "We haven't experienced changes in default rates," said Alfonso Reyes, chief investor relations officer for Ayala Land, the property firm that built Makati.

    "But given the uncertainty of the environment, it is understandable that there's a bit of a wait-and-see attitude that is prevailing in some of the hard-hit markets in the US," he told AFP.

    A third of Ayala Land's residential sales last year were to Filipino expatriates, half of them based in the US. The figure excludes sales to locally-based relatives who may be receiving remittance money.

    That figure has now dropped to 23 percent, Reyes said.

    The SM Group, the country's top shopping mall operator, still expects net profit to rise 13 percent to 14 billion pesos (285.7 million dollars) this year as consumer spending remains firm in the retail sector. But it has since announced it will trim its four billion-peso budget for the middle-income condominium market for 2009.

    "Management feels that due to the global financial crisis, demand for housing may be dampened," said company spokeswoman Sarah Kae Llovido.

    But experts say that some high-end developments may be recession-proof thanks simply to their scarcity.

    Luxury 300-square-meter high rise condo units in Makati, such as Discovery Primea with its private lifts, bedrooms the size of a helipad and Italian marble floors, and the nearby Raffles Residences project are among those residences that developers hope will hold their value no matter how tough the going gets.

    Discovery units are still being snapped up at 1.1 million dollars each, and Raffles units are going for a record 1.2 million dollars each -- three years before they are even built, Asuncion said.

    Seen from Ayala Land's Tower One headquarters, building activity in the Makati district has slowed, even though construction material costs have fallen substantially since the summer.

    Ayala Land retail occupancy rates remain high and demand for the lower-priced segment of its residential market remains strong, said Reyes, adding: "We have not cancelled any project."

    But, he said, "we are aware of the changing conditions, and the risks in the market, so our posture is to be a little bit more flexible to be able to manage our risk exposure properly."

    Real estate companies that survived the 1997 Asian crisis found new growth in outsourcing, where Western companies cut costs by farming out accounting and other segments of their operations to lower-cost, English-speaking corners of the Third World.

    The huge and increasingly affluent market of 8.5 million expatriate Filipino workers also came into play, bringing a boon to the housing as well as retail segments of the property sector.

    "The property sector may slow down, but there will still be year-on-year growth," said CB Richard Ellis research director Victor Asuncion.

    Asuncion said Filipino builders have learned their lesson, and debt exposure is limited as developers sign office leases even before building them and sell homes off the plans -- helped by a housing shortage estimated by the government at 3.7 million units.

    Construction does not start until 40 percent have been sold or leased.

  3. Join Date
    Sep 2003
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    23,288
    #53
    Quote Originally Posted by Gen. Miting View Post
    complaining and protesting are also good tools for adapting to the present environment.
    Childish tantrums is a good example...:loveshower:

  4. Join Date
    Nov 2005
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    39,081
    #54
    haha

    ok

    complaining is an adaptive tool

  5. Join Date
    Aug 2008
    Posts
    1,099
    #55
    like both of you said, it's all about getting what you want. hence,the end justify the means.

    if one complains/protests, and gets what he wants in the process, then same results ...

    from the looks of it, the multi-sector pressure to oil companies is working.

  6. Join Date
    Jun 2007
    Posts
    2,854
    #56
    Quote Originally Posted by Gen. Miting View Post
    like both of you said, it's all about getting what you want. hence,the end justify the means.

    if one complains/protests, and gets what he wants in the process, then same results ...
    True. Everyone complains/protests to get he whats in the process. And I think no one can claim that they never complained or protest in their life...

    Anyway, complains/protests can be both an offensive and defensive tool in any type of relationships (personal, business, diplomacy etc.)...


    from the looks of it, the multi-sector pressure to oil companies is working.
    Yup, you are right....

    So we have to bring it on.....

    Anyway, regarding the topic..

    Manila Times
    November 2, 2008

    AFTER a series of preemptive moves in recent weeks to ease domestic access to credit, the Bangko Sentral ng Pilipinas (BSP) is calling on the Arroyo administration to do its part and pump prime the economy.

    PGMA must come up with concrete steps to tide us from the recession...

    What I see right now is that the government is just not doing enough...
    Last edited by jpdm; November 3rd, 2008 at 08:22 AM.

  7. Join Date
    Jun 2007
    Posts
    2,854
    #57
    Manila times
    Noember 2, 2008

    [SIZE=3]Hedge funds Take A Hit Amid Turmoil[/SIZE]

    HONG KONG: The aura of invincibility around hedge funds, the investment pools for the super-wealthy, has been eroded by the global financial crisis and the fallout has helped fuel ongoing market chaos.

    Analysts say the industry—often maligned for its secrecy and short-selling tactics, but lauded for its lucrative returns—has struggled in the economic meltdown despite its aim to thrive in both bull and bear markets.


    At the same time, the industry’s aggressive attempts to recoup losses and the flight of capital from investors worried about poor returns has helped fuel the swings on the world’s stock markets.


    Some funds have already collapsed and more are under pressure with analysts predicting that consolidation is inevitable.


    “There will be a reduced number of asset management companies, as there are already reduced levels of capital to go round.”

    -- AFP
    Well, even the "guys with the killer instinct and super rich or people at the top" are not spared by this contagion....

  8. Join Date
    Feb 2008
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    14,181
    #58
    Of course no is spared everyone gets hit, so the killer instinct even becomes more primal than usual.

  9. Join Date
    Nov 2005
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    39,081
    #59
    why is it the GOVERNMENT always has to do everything?

    can't the people help themselves?

    do we live in a nanny state?

    ---

    Well, even the "guys with the killer instinct and super rich or people at the top" are not spared by this contagion....
    Most hedge funds are losing money. Most, not all.

    there are hedge funds still making money in this down market...

    yan ang mga Alpha hedge funds... top of the food chain.

    heck, every kind of fund is losing money

    mutual funds, pension funds...

    ok lang kung hedge funds... pera ng mga mayaman yan e... extra money lang nila yan...

    pero yung mga mutual funds... pera ng middle class yan

    pension funds... pera ng mga employees na inaasahan pang retirement

  10. Join Date
    Aug 2008
    Posts
    1,099
    #60
    Quote Originally Posted by jpdm View Post
    Well, even the "guys with the killer instinct and super rich or people at the top" are not spared by this contagion....


    if this goes on, we may see what you've been hoping - distribution of wealth.

    the rich are money hoarders. money has been in their accounts for so long kaya siguro kahit san sila tumakbo ngaun, their money is being reduced.

    no wonder, Oprah, Bill Gates and Buffet did what they did. if you have so much of everything, even if it's in the most secure vault or investment, nature will find a way to take it away from you.

    the 3 billionaires knew this so they tried to beat nature. nauna na sila magpamigay ng limpak limpak na kayamanan nila bago pa nila ma-feel yan na -feel ng mga nadadale ngaun.

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Financial Crisis: The Philippine Version