"Philippines now a good value proposition – Tetangco"

**Monseratto** · March 12th, 2012 08:12 PM

Another "positive" project...hope it does not end up like the so-called QCBD beside it. An announcement like that only draws more interest in that property. It will result in a bidding war and jack up the real estate prices around that area.

Japanese to build world’s 2nd highest tower in QC

JAPAN’s Mitsubishi Electric Corp. is said to be interested in buying Manila Seedling Bank Foundation Inc.’s seven-hectare property on Edsa and Quezon Avenue in Quezon City for P100,000 a square meter to put up the second tallest tower in the world.

City administrator Victor Endriga says Mitsubishi’s representatives met with him and Mayor Herbert Bautista to discuss their plan to build the tower that will house telecommunications companies, radio and television networks , commercial establishments and restaurants.

“If things get going, the tower offer will be the world’s second tallest next to Tokyo’s [634-meter] Sky Tree,” Endriga told the Manila Standard.

He said Mitsubishi showed Bautista a blueprint of its plan to transform the Manila Seedling Bank property into an eco-tourism hub under a public-private partnership.

“The mayor was overwhelmed,” Endriga said. Apart from theP7 billion in projected income from the sale of Manila Seedling Bank, Endriga said, the city was anticipating a bigger business tax collection once the telecommunications tower started operations.

“We will not spend a single centavo,” he said.

City officials were surprised when the Mitsubishi executives arranged an appointment with them, Endriga said.

“It came to their knowledge that the nursery and seedling bank was auctioned off to the city in 2010 and on July 6, 2011,” he said.

“Manila Seedling owed the city government P42 million in real-property taxes,” he said.

“We believe it does not have the money to pay us until July 6.” Rio N. Araja

**Monseratto** · March 12th, 2012 08:43 PM

Originally Posted by rockiee_s

grand belle hotel & casino has been delayed because of their number of rooms. pagcor recently gave a directive that all new casino hotels should have at least 800 rooms. thus, their management is re-designing everything.

while bloomberry casino & hotel is on track. they are currently hiring now.

Interesting who are the owners of these casinos.

Solaire Manila

Philippine Daily Inquirer
2:41 am | Monday, February 20th, 2012

Pagcor City pioneer

Apparently, it will be business magnate Enrique “Ricky” Razon Jr. who will raise the curtains at Pagcor City on Roxas Boulevard with his $1-billion hotel-casino project “Solaire Manila.”

Construction of both Solaire Manila and Belle Grande Manila Bay is now in full swing but this early, Belle is no longer vying for the bragging rights of opening the first gaming complex in the metropolis’ future entertainment hub. “We have decided to allow Razon’s casino the honor of being the first to open in Entertainment City,” Belle vice chair Willy Ocier told Biz Buzz. And why is that so? Ocier said Belle would extend this courtesy because Razon’s dad was the partner of Stanley Ho in the early days of Pagcor during the Marcos era. “They are a pioneer,” Ocier said.

But this lead won’t likely be too wide. Belle’s soft opening for its casino might happen a mere one week after Razon’s debut, Ocier said.

Razon’s Pagcor City complex—via Sureste Properties Inc. and gaming unit Bloomberry Resorts and Hotels Inc.—earlier stated plans to open before the year ends. Belle’s debut is set for early 2013 but it plans a soft opening before the end of this year as well.

And even as their casinos have yet to open, both Bloomberry and Belle are now making plans to acquire additional sites in Pagcor City. “Our country is actually aiming to beat Las Vegas in annual gaming revenues. That’s why we are negotiating early for a second site,” Ocier said.—Doris C. Dumlao

**zap.FREEDOM** · March 15th, 2012 09:15 PM

Originally Posted by uls

high rollers go to many casinos

so the idea is to include the Phils. as an Asian gambling destination

high rollers can go to Macau, to Sentosa, to Genting, to Manila Bay...

^ naisip ko lang, Casino Filipino is in Pasay, btw tuloy-tuloy pa ba yung development sa may Nayong Pilipino? tagal ko ng di nakakasilip dun e, oo nga yung Pasay na lang gawin nilang Gambling City ng Pilipinas since strategically located na sa mga hotel, Marriot Hotel Remington etc.., parang Las Vegas ba, hehehhe...!!!!! kaso alam na kung sino-sino makikinabang dyan,

**Monseratto** · March 15th, 2012 09:59 PM

No long term real capital gains, only short term...no job creation.

MANILA, Philippines – 'Hot money' mostly left the Philippines last month, reversing to net outflows of $305 million from net inflows of $586 million in January.

In a statement, the Bangko Sentral ng Pilipinas (BSP) said registered foreign portfolio investments inched up to $1.5 billion in February from $1.2 billion in the previous month.

Outflows however swelled from $627 million in January to $1.8 billion the month after amid “heavy sell-offs in PSE-listed securities, primarily due to profit taking.”

The BSP also blamed last month’s outflows on the fall in government bond yields.

Despite February’s net outflows, the Philippines continued to enjoy net inflows of $342 million in the first two months of 2012, albeit 54.5 percent lower than the amount seen in the same period last year.

The BSP said holding firms, banks, property companies, telcos and utilities were the main beneficiaries of hot money flowing to the Philippine Stock Exchange.

The top five sources of hot money flows were the United Kingdom, the US, Singapore, Hong Kong and Luxembourg.

**Monseratto** · March 15th, 2012 10:03 PM

Unlike in Indonesia, they build factories... Dito, sinasara yung mga planta.

TOKYO - Japanese auto giant Honda on Thursday said it would invest $320 million in a new car plant in Indonesia, just days after saying it would build a new motorcycle factory in the fast-developing country.

The plant will put together the carmaker's smaller models for domestic sales and export to other Asian markets, the company said in Tokyo.

Around 2,000 jobs will be created at the factory near Jakarta, which will have an annual production capacity of 120,000 vehicles, the company said, tripling Honda's current car output in the country.

Honda said it expects the 27 billion yen plant to come online in 2014.

Earlier this week Honda announced it would be building a new motorcycle factory in Indonesia, capable of producing about 1.1 million bikes a year to meet growing demand in the country.

The new plant, operated by Honda's local joint venture partner PT Astra Honda Motor, will cost about 3.13 trillion Indonesian rupiah ($341 million) and add 3,000 new jobs, it said.

Japanese manufacturers are increasingly looking to expand abroad, hammered at home by a shrinking, greying market and assailed in their export divisions by a strong yen.

Indonesia's economy -- Southeast Asia's biggest -- is a bright spot in a weak global environment, with figures in February showing GDP expanded 6.5 percent last year, spurred by strong household consumption and private investment.

**uls** · March 15th, 2012 11:45 PM

Originally Posted by Monseratto

No long term real capital gains, only short term...no job creation.

USD/PHP

foreign fund managers taking profits buying dollars transfer the funds to their domestic market

**uls** · March 16th, 2012 12:26 AM

this

and this

[ame=http://www.youtube.com/watch?v=tw1mYH92sWQ]Bloomberg reports that Philippines is a Leading Asian Tiger Economy of the World - YouTube[/ame]

are sell signals hehehe

**uls** · March 21st, 2012 01:13 PM

haha the foreign media picked up Noynoying

‘Noynoying’ Poses Challenge to Philippine Leader - Southeast Asia Real Time - WSJ

In retrospect, maybe planking – the hipster practice of lying face-down in odd areas, often as a form of political protest – wasn’t quite so bad. Now antigovernment protesters in the Philippines have found a new way to poke fun at President Benigno “Noynoy” Aquino III. They call it “Noynoying.”

Basically, Noynoying involves sitting around staring into space, much like Mr. Aquino supposedly does instead of running the country, at least according to some of his critics. In recent days, farmers have thrown laissez-faire poses on the steps of the Philippines Supreme Court while waiting for a land-ownership ruling. Student activists, meanwhile, embraced the tactic last week as a way to avoid getting arrested after Metro Manila authorities threatened to detain any demonstrators caught planking. Local newspapers pictured several students last week lounging around stifling yawns as a protest against what they view as the government’s reluctance to stop gas prices rising.

Like planking, Noynoying can be done almost anywhere, but has the advantage of enabling people to do it in any position they like, political activist Vencer Crisostomo told the Philippine Daily Inquirer newspaper. That could include standing up, sitting down, or even lying on your back. “The important thing is that you’re doing nothing,” Mr. Crisostomo said.

Noynoying plays on the widespread perception that Mr. Aquino – who is widely known by the nickname Noynoy – might not be the most hands-on president to have led the Philippines. Since being elected in a landslide in 2010, Mr. Aquino has sometimes been caught laughing it up with celebrities instead of attending to the impact of typhoons and other disasters. It also taps into old Philippine folk tales about Juan Tamad, or Lazy Juan, who manages to get by doing the least amount of work to get by.

hey Noynoy and friends never expected running a country would be so much work

they were supposed to have the time of their lives... being the most powerful people in the country... hanging out, enjoying the company of the prettiest of pretty ladies, driving fast cars...

oh sh*t! matrabaho pala magpatakbo ng bansa

**yapoy86** · March 22nd, 2012 10:38 AM

Originally Posted by rockiee_s

grand belle hotel & casino has been delayed because of their number of rooms. pagcor recently gave a directive that all new casino hotels should have at least 800 rooms. thus, their management is re-designing everything.

while bloomberry casino & hotel is on track. they are currently hiring now.

san ba yan at maka pag apply nga... ano ba requirements??

**timrev** · May 3rd, 2012 12:21 PM

Bloomberry raises P8.85 billion for casino-resort project

MANILA, Philippines - Razon-led Bloomberry Resorts Corp. has raised P8.85 billion (approximately $210 million) through a top-up offering overseas to help fund its multi-billion peso resort and gaming complex along Roxas Blvd.

In a disclosure to the Philippine Stock Exchange, Bloomberry said it sold 1.18 billion shares at P7.50 each, the mid-point of the indicative price range of P6.55 to P8.25 a piece.

Bloomberry’s underwriters have set aside around 117.996 million shares for the overallotment option.

The company is expected to generate a total of P9.73 billion should the greenshoe option be exercised.

The shares were crossed at the PSE yesterday. Investors sold down shares of the company, resulting in a 25-percent drop in its share price to P9.01 yesterday from P12 Monday.

Under the top-up scheme, port magnate Enrique Razon’s Prime Metroline will lend some secondary shares of Bloomberry for sale to institutional investors but will buy the same number of shares to be issued by Bloomberry in the future.

CLSA Ltd. and UBS AG were tapped as joint global coordinators, bookrunners and lead managers for the placing transaction.

Bloomberry has granted Nevada-based casino operator GGAM the option to buy up to 921.18 million shares equivalent to 9.91 percent at P1 per share plus $15 million. The option will expire if not exercised by the date of commercial operations of Bloomberry’s $1.2-billion Solaire Manila project in Pagcor Entertainment City.

GGAM will provide planning, technical and other advisory services to the Solaire Manila project during its construction and fit-out stage. It will also provide management services when Solaire Manila commences commercial operations.

Proceeds from the offering will be used to develop the first phase of Solaire Manila, the first casino complex to rise in Pagcor’s Entertainment City, which is targeted for completion in the fourth quarter this year.

Phase 1 of the project, estimated to cost $650 million, covers 180,000 square meters of floor area, which includes a hotel tower, three levels of podium that has the ballroom/convention facilities, gaming areas, restaurants, retail shops, and health and wellness facilities. A 10-story parking building will also be constructed.

The complex is targeted for a grand opening in the first quarter of 2013.