NEWS

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Seda Ayala Center Cebu to open in third quarter

Tuesday May 15, 2018

Ayala Land, Inc.’s (ALI) hotel brand Seda is set to open its biggest property development in the Visayas in the third quarter of 2018. In the heart of Cebu City’s financial district, Seda Ayala Center Cebu will offer 301 guest rooms along with world-class amenities and service that draws from genuine Filipino hospitality. The exceptional performance of the wholly-Filipino owned brand in the past five years prompted Ayala Land to appoint Seda to run its property at the Cebu Business Park, according to Seda senior group general manager Andrea Mastellone. Seda Ayala Center Cebu will be the ninth property of the home-grown chain. It is present in 7 destinations around the country, namely: Bacolod, Cagayan de Oro, Davao, Iloilo, Laguna, Quezon City and Taguig, with a resort hotel set to open mid-year in Palawan. Mastellone explains that the Cebu Business Park hotel is being refurbished to align with Seda’s timeless look consisting of simple, contemporary lines matched with earth tones. It will also offer quick and easy access to the myriad dining, retail and lifestyle options of Ayala Center Cebu. He explained: “Warm contemporary surroundings in a strategic location matched with an exceptional customer experience have propelled the Seda brand in the last five years. We will make our mark in Cebu drawing from these successful brand values.” Interior design consultant Conrad Onglao disclosed that the property’s strong features such as the high ceiling in the lobby, the volume and flow of spaces which have worked well in the past, have been retained. “Seda Ayala Center Cebu will feel familiar and at the same time new” to Cebu denizens, he says. The guest rooms will experience a dramatic makeover and offer a new layout in soothing earth colors supported by with modern conveniences. Function and meeting rooms, expected to remain a highly popular social and business hub, will be updated to offer a brighter and lighter look, supplemented by modern finishes and lighting fixtures. Lobby seating will likewise be expanded, covering the area of the former lounge, to reflect the open space layout of other Seda hotels where the reception area flows seamlessly into the e-lounge and main dining facility. Like all Seda hotels, Seda Ayala Center Cebu will also feature art pieces by Filipino artists beginning with photographer Jaime Zobel de Ayala whose artwork is the hotel lobby centerpiece. Says Mastellone: “Seda is proud of its Filipino DNA and highlights this in its art pieces, furniture and more importantly, its service culture. To ensure memorable guest experiences, we carefully select associates who are empathetic, caring and are naturally hospitable. They then undergo consistent training and development so they strive to understand our guests’ needs and outdo their expectations.” Seda’s top executive remarks: “Ultimately, it is the customer experience that will differentiate any excellent service brand.” It is also what will make them return again and again to Seda properties like the soon-to-open Seda Ayala Center Cebu, a destination that embodies the look and feel of the ever-evolving hotel brand. (Manila Bulletin)

Belano siblings share lead in Ayala Chess

Friday May 11, 2018

The Belano siblings, Kristina and John Lester, each scored 3.0 points to take the lead in the under-12 division of the three-day inaugural Ayala Center Cebu Juniors and Kids Standard Chess Tournament on Thursday at the Ayala Center Cebu activity center. John Lester beat Edelyn Vosotros while Kristina edged Justine Luis Joseph in the third round of the tournament, which serves as a training ground for young woodpushers who would want to join the 19th ASEAN Age Group Chess Tournament in Davao City on June 8 to 18. In the under-16 division, John Paul Casas and Joshua Villaran share the lead with 2.0 points each. The fourth round is still being competed as of press time. The last three rounds of each category will be played on Friday. The tournament is co-organized by Ayala Center Cebu and the Cebu Executives and Professionals Chess Association (Cepca). Champions in both divisions will receive P1,500 cash. (CEBU DAILY NEWS)

Private companies ink MOA with CCCI

Thursday May 10, 2018

The Cebu Chamber of Commerce and Industry (CCCI) forged partnerships with local government units, government agencies, and companies from different industries for the Cebu Business Month (CBM) 2018 to ensure that the lineup of activities will make a positive impact on the business sector in Cebu, including small and medium enterprises. CCCI will sign a memorandum of agreement with the omnibus sponsors of CBM 2018 before the grand launching and press conference on CBM 2018 in Marco Polo Plaza Cebu today. CBM 2018 is organized in partnership with the Cebu Provincial Government and the Cebu City Government. Event partners include the Department of Science and Technology, Department of Tourism, and Department of Trade and Industry. Omnibus co-presentors include Cebu Holdings Inc., Ayala Center Cebu, PLDT Enterprise, Voyager, PayMaya, Robinsons Land Corp., Robinsons Galleria Cebu, SM Prime Holdings Inc., UnionPay International Southeast Asia, and Waterfront Cebu City Hotel and Casino. CBM 2018’s omnibus platinum sponsor is Marco Polo Plaza Cebu. Omnibus diamond sponsors Cathay Pacific, Cebu Landmasters Inc., F2 Logistics Philippines Inc., Golden Prince Hotel & Suites, Lexmark Research & Development Corp., Oriental Port and Allied Services Corp., Philippines AirAsia, Taiheiyo Cement Philippines Inc., and The Insular Life Assurance Company, Ltd. Omnibus silver sponsor is Treasure Island Industrial Corp. Prime partners are ABS-CBN, Alcordo International Inc. (Alcordo Advertising), BusinessWorld Publishing Corp., SkyCable Pacific CATV, Ocean Fast Ferries Inc. (Oceanjet), GMA Network, and Manila Bulletin. Media partners include Brigada 93.1 News FM Cebu, Cebu Daily News, Expat Travel & Lifestyle Philippines, GraphicStar Imaging Corp., Greenworld LED Solutions Inc., Innopub, Mynimo.com, NU107.Com Co, SunStar Publishing Inc., The Freeman, and Sonshine Radio. Specific event sponsors are Aboitiz Power Corp., BDO Unibank Inc., Cebu Pacific Airlines, Bank of the Philippine Islands, CT4 Philippines Inc., Eastern Communications, Global Business Power, GT Cosmetics Manufacturing Inc., Hyundai Cebu Inc., Security Bank Corp., Cebu Cordova Link Expressway Corp., Oakridge Business Park, Philippine Airlines, Seaoil Philippines, and Tsuneishi Technical Services Philippines. CBM 2018, now on its 22nd year, will feature activities in June that align with the theme Innovate Cebu and focus on tourism, entrepreneurship, and information and communications technology and business processing management. (PR -SUN STAR CEBU)

Cebu Holdings, Cebu Property Venture eye better portfolio, bigger land bank

Wednesday April 18, 2018

A more balanced portfolio and complimentary land bank and resources are expected with the merger of Ayala-led Cebu Holdings Inc. (CHI) and its subsidiary, Cebu Property Ventures Development Corp. (CPVDC). The merger was approved in separate stockholders’ meeting of the two property units of Ayala Land Inc. (ALI) last week. “It would simplify our operations. Instead of two publicly listed companies, we will just be doing it for one larger entity. We will continue with our projects, We have five growth estates in Cebu,” said CHI chair Anna Ma. Margarita Dy in a press conference after the meeting. She pointed out though that they would still need approvals from the Securities and Exchange Commission, Bureau of Internal Revenue, Philippine Stock Exchange and the Philippine Economic Zone Authority before formalizing the merger. The approvals are expected to be secured in the next two to three months. In line with the merger, CHI will exchange 1.06 common shares for every one CPVDC Class A common share or Class B common share. This will result in 996.77 million CHI shares at the completion of the merger. With this, CHI will have a total of 2.157 billion outstanding shares. “Our leasing portfolio will grow by almost two and a half times after the merger. We will be opening new hotels in addition to the Seda Hotel in the Cebu Business Park (CBP). Our gross leasable area will grow from 250,000 to almost 600,000 in the next three to five years,” Dy told reporters. In her presentation during the stockholders’ meeting, CHI chief finance officer Ma. Luisa Chiong said the merger would address listing requirements by being able to comply to the 20 percent public float rule by 2020. It would also mean minimized costs of maintaining two listed companies specifically in terms of meetings, manhour costs, professional fees and listing fees. “There will be a more balanced portfolio as CHI’s expanded mix of businesses will be benefited by CPVDC’s strong office leasing portfolio and vice-versa. There will also be complimentary landbank portfolio,” Chiong said. ALI holds a 71.96-percent stake in CHI, which is the developer of the 50-hectare Cebu Business Park. (Inquirer)  

2 Ayala Land property units merge in Cebu

Wednesday April 11, 2018

A more balanced portfolio and complimentary land bank and resources are expected with the merger of Ayala-led Cebu Holdings Inc. (CHI) and its subsidiary Cebu Property Ventures Development Corp. (CPVDC). The merger was formally approved in separate stockholders’ meetings of the two property units of Ayala Land Inc. (ALI) last Tuesday afternoon. “It would simplify our operations. Instead of two publicly listed companies, we will just be doing it for one larger entity. We will continue with our projects. We have five growth estates in Cebu,” said CHI Chairman Anna Ma. Margarita Dy in a press conference after the meeting. She pointed out though that they would still need approvals from four government agencies before formalizing the merger. These agencies are the Securities and Exchange Commission (SEC), Bureau of Internal Revenue (BIR), Philippine Stock Exchange (PSE), and the Philippine Economic Zone Authority (PEZA). These approvals are targeted to be completed in the next two to three months. In the meantime, Dy said both entities would be operating as before. As part of the merger, CHI will exchange 1.06 common shares for every one share of CPVDC Class A common shares or Class B common shares. This will result to 996.77 million CHI shares at the end of the merger. With this, CHI will have a total of 2.157 billion outstanding shares after the merger. “Our leasing portfolio will grow by almost two and a half times after the merger. We will be opening new hotels in addition to the Seda Hotel in the Cebu Business Park (CBP). Our gross leasable area will grow from 250,000 to almost 600,000 in the next three to five years,” Dy told reporters. The merger would address listing requirements by being able to comply to the 20-percent public float for 2020, CHI Chief Finance Officer Ma. Luisa Chiong explained in her presentation during the stockholders’ meeting. It would also mean minimized costs of maintaining two listed companies specifically in terms of meetings, man-hour costs, professional fees, and listing fees, among others. “There will be a more balanced portfolio as CHI’s expanded mix of businesses will be benefitted by CPVDC’s strong office leasing portfolio and vice-versa. There will also be complimentary landbank portfolio,” Chiong said. CPVDC’s immediately developable parcels in the Cebu IT Park (CITP) would balance the growth horizon for CHI’s existing land bank, she added. CHI is an affiliate of ALI which holds shares of 71.96 percent of the company. CHI is the developer of the 50-hectare Cebu Business Park. On the other hand, CPVDC is a subsidiary of CHI which holds 76.26 of the company’s stocks while ALI holds 7.8 percent of shares of CPVDC which is the owner and developer of the Cebu IT Park. Another significant shareholder of the CPVDC is the Cebu Provincial Government which has 8.28 percent shares. After the merger, the province’s share would become 3.83 percent, which, Dy explained, is not disadvantageous as it can be considered “a smaller slice of a bigger pie.” She said all shareholders of the CPVDC would also become shareholders of the entire CHI after the merger. CHI President Aniceto Bisnar Jr. said they were setting aside from P1.8 billion to P2 billion in capital expenditure for 2018, depending on construction progress. In 2017, the group’s capital expenditure was at P2.1 billion. “With the merger, we will be continuing with our investment program,” he said. Among CHI’s ongoing developments are the Gatewalk Central in Barangay Subangdaku, Mandaue City; and Seagrove in Barangay Punta Engaño, Lapu-Lapu City./lb (Inquirer.net)

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