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NOTICE OF ANNUAL STOCKHOLDERS’ MEETING
NOTICE is hereby given that the 2022 annual stockholders’ meeting of ARTHALAND CORPORATION will be held on 24 June 2022, Friday, 9:00 A.M. and will be convened by the Presiding Officer in Taguig City through remote communication. Attendees must register at https://us02web.zoom.us/webinar/register/WN_Y5YQixvvR5araoU3Dz1uIQ in order to participate during the meeting.
The Agenda for the meeting is as follows:
Only stockholders of record on 02 June 2022 will be entitled to further notice of and to vote at this meeting. Electronic copies of the Information Statement which will include the manner of conducting the meeting and the process on how one can join the same, as well as vote in absentia, among other relevant documents, will be made available in www.arthaland.com and the Electronic Disclosure Generation Technology of the Philippine Stock Exchange (PSE EDGE).
WE ARE NOT SOLICITING YOUR PROXY. However, if you cannot personally attend the meeting or participate through remote communication but would still like to be represented thereat and be considered for quorum purposes, you may inform the Office of the Corporate Secretary at the address indicated below or through investor.relations@arthaland.com not later than 17 June 2022 (Friday). You will thereafter be advised the following business day of any further action on your part, which may include accomplishing a proxy.
RIVA KHRISTINE V. MAALA (Sgd.)
Corporate Secretary
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NOTICE
To the stockholders of ABS-CBN Corporation:
Please take notice that the annual stockholders meeting on July 28, 2022, Thursday, at 8:00 a.m. by remote communications. The record date of stockholders entitled to attend and vote at the said meeting shall be June 9, 2022.
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FACTORY ACTIVITY in the Philippines dipped in May, as the growth in production and new orders slightly eased, S&P Global said on Wednesday.
The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) stood at 54.1 in May, slightly down from 54.3 in April.
“The latest headline index reading signaled a further expansion across the manufacturing sector, and one that was the second-fastest since November 2018,” it said.
May marked the fourth consecutive month that the PMI was above the 50 mark, which separates growth from contraction.
The headline PMI measures manufacturing conditions through the weighted average of five indices: new orders (30%), output (25%), employment (20%), suppliers’ delivery times (15%) and stocks of purchases (10%).
The Philippines’ PMI reading was the second fastest among five Association of Southeast Asian Nations (ASEAN) countries in May, behind only Vietnam’s reading of 54.7.
S&P Global said that production and new orders grew at “solid” rates in the Philippines last month, although the pace of growth softened from April.
However, foreign demand for Philippine goods contracted for a third straight month, which S&P Global attributed to the strict lockdowns in China that caused shipment delays.
Domestic demand improved amid the further loosening of pandemic restrictions in the country.
Metro Manila and various other parts of the country have been on Alert Level 1 since March, as coronavirus disease 2019 (COVID-19) cases remained low.
“As pandemic restrictions ease, strong demand conditions resulted in firms increasing hiring activity for the first time since (February) 2020,” S&P Global economist Maryam Baluch was quoted as saying.
Manufacturing firms also sharply increased their purchases of pre-production inputs and build up their stocks. Holdings of raw materials and semi-finished items went up for a ninth straight month, while post-production inventories expanded at the fastest rate since December 2016.
“Companies continued to accumulate stocks in anticipation of greater demand in the coming months,” Ms. Baluch said.
S&P Global said that the average cost burden and output costs jumped in May, while lead times also lengthened to a greater extent than in the previous month.
“Additionally, business confidence remained strongly optimistic, with firms hopeful of greater output in the coming 12 months. However, the downside risks to the sector come in the form of persistent inflationary pressures and supply chain disruptions which have been further exacerbated by the war in Ukraine and China’s zero-COVID policy,” Ms. Baluch said.
The Bangko Sentral ng Pilipinas (BSP) on Tuesday said inflation likely settled between 5% and 5.8% in May, due to higher pump prices and a weaker peso. Headline inflation for April was at a three-year high of 4.9%. Inflation data for May will be released by the Philippine Statistics Authority (PSA) on June 7.
ING Bank N.V. Manila Senior Economist Nicholas Antonio T. Mapa said in an e-mail that the increase in employment by manufacturing firms was a good development, as it indicates an increase in business confidence.
“Inflation and production costs remain issues and will likely stay until supply chain constraints are removed or mitigated,” he added.
UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said the Ukraine-Russia conflict and China’s lockdowns will continue to impact the supply chain.
“I think that geopolitical risks are going to be protracted and would be difficult to unwind even when hostilities actually stop,” Mr. Asuncion said.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said that despite the slight decline in the country’s PMI this month, it was still among four-year highs.
“Higher inflation/prices could have eaten some of the investments/growth that would otherwise have been intended for the manufacturing sector had it not been for the Russia-Ukraine war… Higher interest rates, especially long-term tenors/bond yields led to higher borrowing costs/financing costs that could have also led to some slowdown in the PMI manufacturing gauge,” Mr. Ricafort said. — Tobias Jared Tomas
TOKYO — Asia’s factory activity slowed in May as China’s heavy-handed coronavirus curbs continued to disrupt supply chains and dampen demand, adding to woes for some of the region’s economies that are already under strain from surging raw material costs.
Manufacturers slowed activity last month in countries ranging from Japan to Taiwan and Malaysia, business surveys showed on Wednesday, a sign of the challenge policy makers face in combatting inflation with tighter monetary policy — without crippling growth.
China’s Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) stood at 48.1 in May, improving slightly from 46.0 the previous month but staying below the 50-point threshold that separates contraction from expansion, a private survey showed.
The outcome was in line with Tuesday’s official data that showed China’s factory activity fell at a slower pace in May. While coronavirus disease 2019 (COVID-19) curbs are being rolled back in some cities, they continue to weigh heavily on confidence and demand.
“Disruptions to supply chains and goods distribution may gradually ease as Shanghai’s lockdown ends. But we’re not out of the woods as China hasn’t abandoned its zero-COVID policy altogether,” said Toru Nishihama, chief economist at Dai-ichi Life Research Institute in Tokyo.
“Rising inflation is forcing some Asian central banks to tighten monetary policy. There’s also the risk of market volatility from US interest rate hikes. Given such layers of risks, Asia’s economy may remain weak for most of this year.”
CHINA SPILLOVER
Lockdowns in China have snarled regional and global logistics and supply chains, with both Japan and South Korea reporting sharp declines in output.
Japan’s manufacturing activity grew at the weakest pace in three months in May and manufacturers reported a renewed rise in input costs, the PMI survey showed, as the fallout from China’s lockdowns and the Ukraine conflict pressured the economy.
The final au Jibun Bank Japan PMI fell to a seasonally adjusted 53.3 in May from the previous month’s 53.5, marking the slowest pace since February.
“Both output and new orders rose at softer rates, with the latter rising at the weakest pace for eight months amid sustained supply chain disruption and raw material price hikes,” said Usamah Bhatti, an economist at S&P Global Market Intelligence.
“Disruptions were exacerbated by renewed lockdown restrictions across China, and contributed to a further sharp lengthening of suppliers’ delivery times.”
Factory activity in the Philippines also slowed to 54.1 in May from 54.3 in April, while that for Malaysia fell to 50.1 from 51.6 in April, PMI surveys showed. Taiwan’s manufacturing activity stood at 50.0 in May, down from 51.7 from April.
In a glimmer of hope, South Korea’s exports grew at a faster pace in May than a month earlier, data showed on Wednesday, as a rise in shipments to Europe and the United States more than offset the fallout from China.
South Korea’s monthly trade data, the first to be released among major exporting economies, is considered a bellwether for global trade. — Reuters
By Alyssa Nicole O. Tan, Reporter
THE PHILIPPINE Senate deferred the ratification of the Regional Comprehensive Economic Partnership (RCEP), after some senators voiced concern over the lack of safeguards for the agriculture sector.
Senators on Wednesday adjourned its last session without taking a vote on the RCEP, touted as the world’s biggest trade agreement since it represents 30% of the global gross domestic product (GDP).
RCEP, which entered into force on Jan. 1, is a trade agreement involving Australia, China, Japan, South Korea, New Zealand and the 10 members of the Association of Southeast Asian Nations (ASEAN).
Aside from the Philippines, only two other countries have not yet ratified the RCEP — Indonesia and Myanmar.
It will now be up to the 19th Congress to tackle the RCEP when the session opens in late July.
Earlier on Wednesday, the Financial Executives Institute of the Philippines (FINEX), the Makati Business Club (MBC), and the Management Association of the Philippines (MAP) once again appealed to the Senate to ratify the Philippines’ membership in the RCEP.
“Exclusion from RCEP would be immensely costly to our economy and our people. We can anticipate a significant decline in our exports to RCEP countries, which now account for nearly two-thirds (64%) of our total exports, as trade with us will logically be diverted to fellow members,” the business groups said.
Without RCEP membership, the business groups said the Philippines would become “even more unattractive to job-creating investments than we already are.”
“Our membership could attract more foreign investments into the country from firms wishing to produce and sell to the large RCEP market,” they added.
President-elect Ferdinand R. Marcos, Jr. earlier said he wants a review of the RCEP to determine whether the agriculture sector is adequately protected.
Some senators had raised concerns over the RCEP, citing the lack of safeguards for the agriculture sector.
“We have an incoming government who has expressed his concern about being able to review RCEP. We believe that government intervention for the agriculture sector is critical for us to be able to ensure that our entry into RCEP will not undermine our agriculture sector and will not further weaken our local manufacturers, produces, our farmers, and our fisherfolk,” Senator Francis N. Pangilinan said during plenary debates late Tuesday.
“To my mind, there is no reason why we should not enter RCEP at a time when we are ready, and another 18 months, I hope, would be a set target, a deadline, so that the government will be compelled by June 2023,” he added.
Senator Ana Theresia “Risa” N. Hontiveros-Baraquel also said the country is not yet ready for RCEP.
“With our market access right now, we can continue to trade as we do today even if we do not ratify RCEP… RCEP is predicted to worsen the Philippines’ trade balance which would cause job losses and $58 million per year in tariff revenue losses,” she said at a press conference on Wednesday.
‘TREMENDOUS’ COST
Senate Foreign Relations Committee Chair Senator Aquilino Martin L. Pimentel III on Tuesday said the Philippines’ international reputation will be damaged if it fails to ratify RCEP, noting that the country has spent years actively negotiating the terms of the deal.
“The cost of delay is tremendous… Investors who want to take advantage of the largest trading bloc in the world would want to locate in RCEP countries, so we will not be in the radar. What’s worse is if those located in the country will relocate to RCEP ratifying countries,” Mr. Pimentel said.
Asked if the country was ready, Mr. Pimentel said 30 agencies have been studying this treaty and the Philippines has been preparing for eight years.
“Sometimes we just need to be pushed to compete, and the value of a free trade agreement is actually in its use… so we should use it,” she said.
At the same time, the three business groups said RCEP would help micro, small, and medium enterprises (MSMEs) expand market access, as well as reduce costs of doing business through improved trade facilitation.
“We see our membership in RCEP as an important challenge to our government to step up genuine and meaningful support for Filipino producers, especially in the agriculture sector, which is the backbone of the Philippine economy. We, therefore, urge the government to provide a substantial increase in the agriculture budget commensurate to that provided in our comparable ASEAN neighbors, as we urge our senators to ratify the RCEP Agreement without delay,” they added.
Meanwhile, farmers group Federation of Free Farmers (FFF) National Manager Raul Q. Montemayor said in a letter sent to the Senate on Monday that the incoming Marcos administration should be given the opportunity to study the RCEP in order to maximize the benefits and reduce the adverse effects on various sectors.
“Concurring with the agreement now, even as questions on trade remedies and the preparedness of our agriculture sector have yet to be fully answered, will unnecessarily tie the hands of the incoming administration and preempt whatever measures it might have to take to prepare the country for accession,” Mr. Montemayor said. — with Revin Mikhael D. Ochave
By Arjay L. Balinbin, Senior Reporter
LOCAL AIRLINES are optimistic that travel demand will be sustained in the next few months, even as airfares may rise due to the spike in jet fuel prices.
“While the remaining months of June to November are our traditional lean season, we remain confident that more passengers will fly in the coming months as travel restrictions have eased. We continue to see an uptrend in bookings as passengers show high interest in our seat sales,” Cebu Pacific Chief Commercial Officer Xander Lao said in a statement to BusinessWorld on Tuesday.
Philippines AirAsia, Inc. said the adjustment in the fuel surcharges will help cushion the impact of volatile global oil prices on airlines.
“AirAsia remains committed to offering best value for money deals for flights, SNAP (flight + hotel bundle) and other products housed on the AirAsia Super App to provide our guests with affordable options during their travels. We are optimistic that the adjustments in fuel surcharges will not affect the booking behavior of our guests who have been wanting to rediscover the Philippines and key destinations in ASEAN (Association of Southeast Asian Nations),” a company representative said in an e-mailed statement.
Starting this month, airlines are allowed to collect fuel surcharge under Level 7 or the highest level in a fuel surcharge matrix approved by the Civil Aeronautics Board (CAB).
Under Level 7, the fuel surcharge per passenger will range from P201 to P769 for domestic flights in June. This is higher than the P108 to P411 fuel surcharge for domestic flights in May.
For international flights originating from the Philippines, the fuel surcharge per passenger will range from P1,035 to P9,892 in June. This compares with the P543 to P5,026 rate in Philippine Airlines. The company has yet to respond to a request for comment as of press time.
Transportation expert Rene S. Santiago said the higher fuel surcharge will definitely affect passenger demand.
“Those who are in the margins (low to middle income) will opt out… Those in Class A won’t cancel or postpone their travel plans. Airlines will see how this would affect their load factors, and may adjust downwards if the load factors fall below breakeven,” he said in a phone message.
Regina Capital Development Corp. Equity Analyst Anna Corenne M. Agravio said airlines will likely face “tighter margins.”
“Airlines will have to balance passing on higher costs to its passengers against keeping rates competitive,” she said in a phone message.
Ms. Agravio noted that airlines may continue to see strong topline growth this year due to favorable base effects.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the higher fuel surcharge level would lead to “higher revenues amid the need to inevitably pass on higher fuel costs to passengers.”
“The increase in global oil/fuel prices is largely attributed to Russia’s invasion/war with Ukraine since Feb. 24, 2022 to among decade-highs, is considered an external/exogenous factor that is beyond the reasonable control of airlines, so passing on the added costs/burden to passengers is justified because failure to do so would lead to narrower margins, if not, undue losses,” he said in an e-mailed reply to questions.
However, airlines may be constrained to raise fares amid tight price competition in the industry.
“Furthermore, higher fares, at some point, would lead to some reduction/destruction in demand, thereby a delicate balancing act in order to ensure and sustain a healthy level of demand, while ensuring viability of operations amid the need to cope up with higher costs and narrower margins,” Mr. Ricafort said.
“This also highlights the importance of properly hedging fuel costs/requirements, as an option available to industry players, to better plan ahead and provide greater flexibility on costs/pricing vis-a-vis competition from both local and foreign industry players.”
Flag carrier Philippine Airlines and budget carrier Cebu Pacific have both reported higher revenues for the first three months of the year, with the former returning to profitability.
PRESIDENT-ELECT Ferdinand “Bongbong” R. Marcos, Jr. is eyeing Party-list Rep. Rodante D. Marcoleta to become the next Energy chief.
Mr. Marcoleta, who is also House deputy speaker, is being considered to head the Department of Energy (DoE), incoming press secretary Rose Beatrix “Trixie” Cruz-Angeles told a televised news briefing on Wednesday.
Ms. Cruz-Angeles said that aside from Mr. Marcoleta, Rigoberto D. Tiglao and lawyer Karen Jimeno are also being considered for Cabinet positions.
“We can confirm that those names are being talked about but there are no decisions made yet as of now,” Ms. Cruz-Angeles said.
Mr. Marcoleta was elected to the 18th Congress as the representative of the Social Amelioration and Genuine Intervention on Poverty (SAGIP) party-list organization.
He ran for senator under Mr. Marcos’ ticket, but withdrew his candidacy just a few weeks before the May 9 elections.
In 2021, Mr. Marcoleta called for an early review of the law that gave Manila Electric Co. (Meralco) a legislative franchise, which expires in 2028. He alleged that Meralco overcharged its customers when the country was placed under one of the world’s longest and strictest lockdowns in 2020.
Mr. Marcoleta was also one of the lawmakers who opposed the franchise renewal bid of ABS-CBN Corp. in 2020.
Mr. Tiglao and Ms. Jimeno are reportedly among Mr. Marcos’ choices for presidential spokesperson.
Mr. Tiglao is currently a columnist for The Manila Times. He was the presidential spokesperson and chief of staff under President Gloria Macapagal-Arroyo.
Ms. Jimeno has served as undersecretary of the Department of Public Works and Highways. — Kyle Aristophere T. Atienza
THE PLDT group announced on Wednesday the first closing on its landmark sale and leaseback towers agreement involving 3,012 telecom towers, or more than half of the towers being monetized.
The group received the “corresponding cash consideration of approximately P39.2 billion,” PLDT, Inc. told the stock exchange.
At the same time, the company announced that the master services agreements covering the leaseback arrangements for those towers “became effective.”
“PLDT foresees additional closings in the next few months as the transaction is staggered based on number of towers being transferred, with final closing expected by Q4 (fourth quarter) 2022,” the company noted.
To recall, the group announced in April that its subsidiaries, Smart Communications, Inc. and Digitel Mobile Philippines, Inc., had signed sale and purchase deals in connection with the sale of 5,907 telecom towers and related passive telecom infrastructure for P77 billion to the subsidiaries of international telecommunications infrastructure services companies edotco Group and EdgePoint.
The 5,907 towers — almost half of PLDT’s total tower portfolio — are spread across the Philippines, with 2,973 being acquired by ISOC edotco Towers, Inc., a subsidiary of edotco Group, and 2,934 towers by Comworks Infratech Corp., a subsidiary of EdgePoint.
With the proceeds from the transaction, the PLDT group aims to prepay P27.5 billion in debt maturing this year.
This also means that the group will no longer need to borrow P24.5 billion that will be used for its capital expenditures and other investment requirements, according PLDT Chief Finance Officer Anabelle L. Chua.
“Originally, based on our plans, we would have had to borrow; but this time, we can avoid doing that with the proceeds that we’ll generate from this transaction,” she said at a recent briefing.
The company also expects to see a payment of special dividends of up to P9 billion to its shareholders.
“As the largest ever acquisition of assets in the Philippines by international investors, this investment by international tower operators represents a strong endorsement of the country’s recovery from the pandemic and its long-term growth prospects,” PLDT said.
“This pioneer undertaking also supports the Philippine Department of Information and Communications Technology’s goal of improving tower density which will lead to significant efficiencies and improved connectivity across the Philippines,” it added.
PLDT shares closed 0.37% higher at P1,907 apiece on Wednesday.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a stake in BusinessWorld through the Philippine Star Group, which it controls.— Arjay L. Balinbin
LISTED fiber internet provider Converge ICT Solutions, Inc. announced on Wednesday that it is doubling its base plan for customers to 100 megabits per second (Mbps) from 50Mbps due to increased internet consumption among Filipino households.
“With modern Filipino households having multiple heavy internet users, Converge ICT Solutions, Inc. wants to address the increasing need for a faster and more reliable internet connection while remaining affordable,” the company said in an e-mailed statement.
Starting June 1, the company will be offering free speed upgrades for all its existing and new FiberX Plan 1500 subscribers — doubling the speed to 100Mbps from 50Mbps.
The company said it has laid down over 500,000 kilometers of total fiber assets, expanding its pure fiber network across the Philippines.
“On top of this, the company has doubled the data transmission capacity of its metro backbone from 400Gbps (gigabits per second) wavelengths to 800Gbps,” it noted.
This capacity, Converge also said, allows its users to make full use of the company’s connections to the content distribution networks, peering partners, and other international exchanges, “easily doubling the bandwidth they have for any of their online activities.”
The company targets to cover 55% of households in the country by 2023.
First-quarter revenues from the company’s residential business increased by 42% to P6.81 billion from P4.80 billion previously, driven by a 52.5% year-on-year growth in its subscriber base. It ended the quarter with 1,802,202 residential subscribers.
Its first-quarter attributable net income increased by 27% to P1.97 billion from P1.55 billion in the same period a year earlier as a result of higher revenues from residential and enterprise subscribers.
Its customers from the small-and-medium enterprise segment rose by 200%, reaching 25,810 as of March 31.
Converge ICT shares closed 1.70% lower at P26.05 apiece on Wednesday. — Arjay L. Balinbin
By Joseph L. Garcia, Reporter
A NEW lounge in Greenhills is making us think about going out again.
Arcana, located at the Promenade Mall at the Greenhills Shopping Center in San Juan, is decorated in the luxurious style akin to clubs that closed even prior to the pandemic (the music choices of early 2000s club anthems during the May 18 opening may have had a hand in our impression). It seats about 40 inside, and 20 outside, mindful of new pandemic practices of eating al fresco.
Appetizer after appetizer came out during the opening, but only one truly stood out: the sisig rolls (P475). The thoroughly Filipino chopped pigs’ face is wrapped and fried in rice paper, as the Vietnamese do, leading us to rediscover this Filipino classic. Still, we’d suggest a little zest and zing added to it, as my seatmate complained it tasted like the smell of boiled pork (but never mind her; I liked it).
We’re a little bit firmer in liking the entrees, which included a Rib Eye Steak (P2,990) and the Lamb Rack (P1,945). According to the chef, Edward Dimaculangan, the steak is USDA, and the lamb comes from either Australia or New Zealand.
“Unfortunately, we don’t have that yet in the Philippines: the quality of USDA steaks and the lamb from Australia and New Zealand.” For everything else (the shrimp in the pasta, the prawns for the thermidor, and the sisig, probably), there are the local markets. “We’re only (one) of a few restaurants… that actually take time to go to the slaughterhouse,” said Mr. Dimaculangan. “We pride ourselves that we don’t purchase anything frozen, except of course the steak and the lamb.” The steak was perfectly tender and was forward with its flavor. The lamb rack, prepared sous vide, tasted like it was made with care.
The cocktails seal the deal, and for one of their signature cocktails, we’d definitely head out of the house. We had a gin-basil splash to start (a bit like a more worldly mojito, P420), but we’d tell you to start with Picnic (P420), and fast.
It turns out that Arcana’s Bar Manager and consultant is Kenneth Bandivas, winner of the Philippine leg for the 2015 Diageo Reserve World Class Bartender of the Year Competition. He was then working for one of Manila’s speakeasies (story here: https://www.bworldonline.com/weekender/focus/2016/05/20/5154/manilas-hidden-bars/), but now co-owns The Spirits Library and Kampai (both in Makati).
To make Picnic, he first makes a Bloody Mary (recipes differ, but a basic one would be tomato juice, vodka, some citrus, and spices); then switches out the vodka for tequila. After that, he pours milk over the whole thing to make it curdle, a process which takes about 24 hours. This is then filtered and clarified.
The result is a clear drink that contains the mere suggestion of the Bloody Mary, but with the same kick. “Imagine having a Bloody Mary, which is technically a hangover cure during brunches. It’s like having that experience with me,” he told BusinessWorld. On the other hand, it’s also practical. “If I prepare it in advance, I could just grab a bottle, pour it over ice, and then put garnish on it,” he said. “At least I have a cocktail that is easy to pour.”
The cocktails also take after what the kitchens have to offer. “We try to minimize our wastage. Whatever they’re using, we try to use it. If there’s an interesting ingredient that we can use and incorporate in a cocktail, we would do it.”
We asked Mr. Bandivas what makes for a perfect cocktail. “Essentially, it’s more on how you extract and derive from all the ingredients that you get in a menu, and have a strong relationship with all those ingredients,” he said. “If you think about a tomato, the tomato really has to come out. A perfect cocktail would always be (one) that really brings out the best of the ingredient that you want to highlight. Something simple, but would really trick my mind.”
Arcana is located at 2/F, Outdoor Promenade, Greenhills Shopping Center, Ortigas Ave., Connecticut St., San Juan City.
AYALALAND Logistics Holdings Corp. (ALLHC) has acquired 55 hectares of land in Batangas’ Padre Garcia town for the site of its future industrial park in the province.
“We are looking forward to further energizing the municipality of Padre Garcia by bringing more employment opportunities for the communities in the province of Batangas and nearby localities,” ALLHC Chief Operating Officer Patrick C. Avila said in a statement on Wednesday.
“The acquisition is a strategic move that furthers [the company’s] goal of building national footprint by increasing its presence in key areas nationwide,” he added.
The industrial park, Batangas Technopark, is targeted for “light and medium, non-polluting industries from both local and global markets,” similar to ALLHC’s four other Technoparks in Laguna, Cavite, Laguindingan, and Pampanga.
“Furthermore, the park is positioned to house ALogis ready-built facilities and ALogis Artico cold storage facilities in the coming future,” the company added. ALogis is the industrial leasing brand of ALLHC.
It described the property as resting in a prime location for the development of a new industrial estate. Its main access is said to be reachable from Manila via the South Luzon Expressway, continuing on to the Southern Tagalog Arterial Road, then to local roads.
The company also said that the future industrial park will be an hour’s drive from the Port of Batangas, which serves as an alternate to the Port of Manila.
Batangas Technopark will be ALLHC’s fifth industrial park, the company said, adding that the development will address the growing demand for industrial real estate in the Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) region.
It is also the firm’s second property in Batangas, following the acquisition of an existing 64,000-square-meter (sq.m.) ready-built facility in Sto. Tomas in February.
ALLHC is a subsidiary of Ayala Land, Inc. and is present in six areas nationwide through its industrial parks, warehouses, cold storage facilities, and commercial leasing.
In the first quarter, the logistics company reported a 19% increase in net income to P197 million as it recorded consolidated revenues of P864 million.
Marla Rowena M. Tomeldan, ALLHC’s outgoing president and chief executive, previously said that the company’s growth plans were geared to enable it to seize opportunities in the new economy.
“With the competitive advantage from our solid portfolio of diversified product offerings, and our optimistic view on the economy’s reopening, we look forward to enhancing our business performance in 2022,” she said last month.
Warehouse leasing revenues rose by 54% to P191 million in the first quarter from P123 million a year ago amid improved occupancy and increased leased areas.
Meanwhile, industrial lot sales decreased by 18% to P316 million due to unbooked reserved lots.
On Wednesday, ALLHC shares ended lower by 1.2% or five centavos to finish at P4.10 at the stock market. — Luisa Maria Jacinta C. Jocson
