PinoyWeb

From prey to predator, Philamlife strikes deal with Ayala

MANILA - The new deal between 2 of the country’s biggest players in the financial services industry made another history in local business. In a joint statement on Wednesday, the country’s largest life insurer Philippine American Life and General Insurance Company (Philamlife) and one of the country’s universal banks, the Bank of the Philippine Islands, announced their “strategic bancassurance joint venture.” The transaction involves Philamlife acquiring 51% stake in BPI’s life insurance...

Transco reiterates refusal to settle dispute with property firm

The National Transmission Corp. (TransCo) reiterated its refusal to settle a right-of-way dispute on expropriated land previously owned by a real-estate developer. Undertaking a settlement with Stateland Inc. (formerly American Realty Corp.) “will set a precedent for future claims based on current values and not on values when the properties were taken," said Energy Secretary Angelo T. Reyes, who also sits at the TransCo board. A September 2008 court decision has reportedly compelled...

Filinvest Land to roll out 29 new projects

Filinvest Land Inc., one of the leading residential property developers owned by the Gotianun family, is ready to roll out 29 new projects and phases this year with an estimated sales value of P7.4 billion. In a filing with securities regulators, FLI said it has a sizeable landbank of 2,511 hectares which will be enough to ensure its continued expansion and meet demand across all market segments. In the pipeline is The Linear, FLI’s first high-rise residential building which is targeted ...

The Philippines is the hottest real estate market in Southeast Asia

Tourism, offshore property investors and local real estate developers are driving the property market in the Philippines to the top of real estate investors' list, said Manila Condotel Investment group PLC International Marketing Networks.Beth Collingz, sales director of PLC International Marketing Networks whom specialize in the Lancaster Brand of Condotel Investments in the Philippines said "Foreign investors are looking at the positive effects of the stable Philippine peso, increasin...

Holcim Philippines prepares for cement industry growth

{mosimage}MANILA, Philippines - Top cement maker Holcim Philippines, Inc. will spend P2 billion this year as it upgrades its equipment in preparation for as much as 10% growth in the local cement industry. "We’re allotting [50% more capital expenditure] to accelerate the refurbishment of plants in Bulacan, Davao and La Union," Holcim Chief Operating Officer Ian S. Thackwray said on the sidelines of the company’s stockholders’ meeting Tuesday. He expects the company to perform better this year....