April 17,2012- Morning Linkfest

1.)    Ayala Land Launches P15 Bil Bond Offer (Inquirer)

Ayala will issue up to P15 Bil in long term fixed-rate bonds in two tranches of seven and ten years.  7 year bonds are priced to yield 5.625% every year while the 10 year bonds will yield 6% every year.  The offer runs from April 16 to April 23.  The bonds are expected to be issued on April 27, in line with Ayala Land’s largest capex program to date of Php37 Bil.  Investors can buy at least Php50,000 while incremental investment will be in multiples of Php10,000.

2.)     Century Properties reports P866 Mil income in 2011 (ABS CBN)

Century Group’s total sales grew 53% to Php4.7 Bil , and net income of Php866 Mil, up by 282% y/y.   This came on the back of high-profile collaborations with international brands such as Missoni Home, Versace Home, as well as celebrities Paris Hilton and Donald Trump.   The company is forecasted to double its 2011 net income with first quarter pre sales of Php5.3 Bil, on track to its FY target of Php20 Bil.  Dividends of Php85 Mil , 10% of 2011 net income will be distributed.

3.)    Watch Video Interview: Manila Water pitching projects to local Philippine cities (ABS CBN)

Manila Water is targeting the country’s 15 biggest cities, pitching services to local governments and has at least one overseas project in Vietnam.  The company is also developing Laguna Lake as a water source along Angat dam.

Manila Water sets Php11 Bil capex (Philstar)

Manila Water is looking to spend up to Php11 Bil in capex this year, expanding its customer base.  Php5 Bil will be spent for construction of a water treatment plant in Rodriguez, Rizal with a capacity of 150 Mil liters/day.  The water treatment plant on Rodriguez plant is excepted to be completed in 2 months.

4.)    Malaysia’s CIMB to buy 60% of San Miguel’s bank unit soon (ABS CBN)

Malaysia’s CIMB Group will sign a deal soon to buy 60% of San Miguel Corp’s Bank of Commerce.  CIMB’s buy-in may be worth about $200-250 Mil.  At the end of the third quarter, Bank of commerce’s total assets were valued at Php96.5 Bil.

5.)    Capital Hike Credit Positive for BDO – Moody’s (Phil Star)

Moody’s classified BDO’s $1 Bil equity raising plan as credit positive, as the additional equity capital will boost its core above Basel III minimums and increase its loss-absorption buffer.

6.)    The story of Dr. Justino Arboleda : Pulling Bicol up from poverty with coco fiber ropes

7.)    8 Things I Learned About Gary V

– Faceless Trader


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