in the news: federal land, ali, aub, fdc, asia

Federal Land sees reservation sales growing by 25% in 2013

Ayala Land to spend P12B for South Park District development

Gaga over Gaggenau

Businessman Alfred Ty has just cooked up a deal with German brand Gaggenau to supply the kitchen appliances at the 45-story Grand Hyatt Residences at Federal Land’s block in Fort Bonifacio Global City.

Gaggenau is to kitchen appliances what Porsches and Lamborghinis are to exotic cars—extremely pricey and cutting edge in design and performance.

Gaggenau refrigerators, cook tops and ovens will be standard equipment in all 220 units of the Grand Hyatt, including the entry-level unit, which sells for a little over P20 million.

The deal was done just in time before the arrival last week of Grand Hyatt’s top brass from Chicago who were in town to comb through every corner of the design plans for the luxury pads.

Grand Hyatt is currently the leader in hotel occupancy and food and beverage services in Asia’s major cities and its officials are making sure that Federal Land’s hotel and condo are up to par with the American hotel brand’s standards.

Residents will enjoy concierge services of the adjacent five-star hotel similar to the lifestyle currently enjoyed by the lucky few living at the Raffles Residences in Makati. But unlike the Raffles, the Hyatt Grand Residences is in a separate tower from the hotel, which provides more security and privacy for its residents. Gil Cabacungan

- See more at: http://business.inquirer.net/109677/electrocuted#sthash.D4eUDSJV.dpuf

Asia United Bank’s net profit grows by 20% due to trading, lending

FDCUI allots P30 billion for Mindanao plant

Toyota mulls manufacture of compact cars in Philippines

Asia Trust wipes out deficit

stok tots: asia reorg (26 jan 2013)

from Due Diligencer: Written by E. SD. PEREZ Published on 25 January 2013

... Quasi-reorganization. With the acquisition of its bank assets and assumption of its liabilities by Asia United Bank, Asiatrust Development Bank will not cease to exist as a stock corporation but will be transformed into a holding company to be named Nextgenesis Holdings Corp. In its latest filing posted on the website of the PSE, it said that it is taking the first step in assuming a new corporate identity by cleansing its books of accumulated deficits by reducing its capital stock. Available financial filings showed the bank had accumulated deficits of P1.724 billion as of June 30, 2010, which it intends to wipe out by reducing its capital. The reduction is part of a quasi-reorganization process, which is implemented in rehabilitating an ailing entity in order to rid its book of deficits. Deficits represent accumulated losses of a company over the years. In the case of Asiatrust, it had outstanding capital of 104.013 million shares, or P1.040 billion. By how much it will reduce its par value of P10 to erase most of its deficits has not been disclosed. The Social Security System is the biggest stockholder of Asiatrust with 19.896 million shares, or 19.13 percent. The two others are Asian Development Bank with 7.871 million shares, or 7.55 percent, and Gloria Garcia with 12.746 million shares, or 7.55 percent. 

http://www.manilatimes.net/index.php/business/business-columnist/40100-trading-on-cojuangcos-firm-remains-suspended


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