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D& L on track to meet P3.4B income target

D&L Industries, Inc. (DNL) said it remains on track to book a P3.2-billion profit for 2018, after net income by end-September rose by 13% year-on-year......»»

Category: newsSource: bworldonline bworldonlineNov 9th, 2018

LANDBANK Posts P10.3B Net Income for First 9 Months, on Track to Meet Target

LANDBANK Posts P10.3B Net Income for First 9 Months, on Track to Meet Target.....»»

Category: newsSource:  metrocebuRelated NewsNov 27th, 2016

Pryce sets P900-M profit target this year

MANILA, Philippines - Pryce Corp.’s strong performance in the first half of the year puts it on track to meet its P900-million income target for 2016......»»

Category: financeSource:  philstarRelated NewsJul 29th, 2016

District engineer Adongay addressed slow implementation of projects of DPWH-Biliran

DPWH Biliran District Engineering Office (DEO) is urging contractors to fast-track the implementation of projects to meet the district’s physical target accomplishment......»»

Category: newsSource:  samarnewsRelated NewsNov 11th, 2018

Biliran DEO orders contractors to fast track delayed projects

Biliran DEO wants the contractors to accelerate their work in order to meet the 15 percent monthly target accomplishment of the district......»»

Category: newsSource:  samarnewsRelated NewsAug 27th, 2018

Cebu Landmasters on track to hit P1.7-billion income target

Cebu Landmasters Inc. is on track to hit its net income target of P1.7 billion for the year as it continues to benefit from strong demand for its various housing projects, the property firm said......»»

Category: financeSource:  philstarRelated NewsMay 23rd, 2018

Cebu Landmasters Books P2.7 Reservation Sales in Q1, On-track to Surpass 2018 Target

Leading VisMin property developer Cebu Landmasters Inc. (CLI) is on-track to meet its P7 billion reservation sales target this year after sales rose 24 percent in the first three months. From January to March, the listed company sold P2.7 billion of its ongoing developments, reaching already 38 percent of its full-year goal. “I’m happy to […].....»»

Category: newsSource:  metrocebuRelated NewsApr 20th, 2018

As Olympics near, South Korea agonizes over post-Games costs

By Kim Tong-Hyung, Associated Press GANGNEUNG, South Korea (AP) — South Korean officials have ruled out turning a state-of-the-art Olympic skating arena into a giant seafood freezer. Other than that, not much is certain about the country's post-Winter Games plans for a host of expensive venues. As officials prepare for the games in and around the small mountain town of Pyeongchang, there are lingering worries over the huge financial burden facing one of the nation's poorest regions. Local officials hope that the Games will provide a badly needed economic boost by marking the area as a world-class tourist destination. But past experience shows that hosts who justified their Olympics with expectations of financial windfalls were often left deeply disappointed when the fanfare ended. This isn't lost on Gangwon province, which governs Pyeongchang and nearby Gangneung, a seaside city that will host Olympic skating and hockey events. Officials there are trying hard to persuade the national government to pay to maintain new stadiums that will have little use once the athletes leave. Seoul, however, is so far balking at the idea. The Olympics, which begin Feb. 9, will cost South Korea about 14 trillion won ($12.9 billion), much more than the 8 to 9 trillion won ($7 to 8 billion) the country projected as the overall cost when Pyeongchang won the bid in 2011. Worries over costs have cast a shadow over the games among residents long frustrated with what they say were decades of neglect in a region that doesn't have much going on other than domestic tourism and fisheries. "What good will a nicely managed global event really do for residents when we are struggling so much to make ends meet?" said Lee Do-sung, a Gangneung restaurant owner. "What will the games even leave? Maybe only debt." ___ TEARING THINGS DOWN The atmosphere was starkly different three decades ago when grand preparations for the 1988 Seoul Summer Games essentially shaped the capital into the modern metropolis it is today. A massive sports complex and huge public parks emerged alongside the city's Han River. Next came new highways, bridges and subway lines. Forests of high-rise buildings rose above the bulldozed ruins of old commercial districts and slums. The legacy of the country's second Olympics will be less clear. In a country that cares much less now about the recognition that large sporting events bring, it will potentially be remembered more for things dismantled than built. Pyeongchang's picturesque Olympic Stadium — a pentagonal 35,000-seat arena that sits in a county of 40,000 people — will only be used for the opening and closing ceremonies of the Olympics and Paralympics before workers tear it down. A scenic downhill course in nearby Jeongseon will also be demolished after the games to restore the area to its natural state. Fierce criticism by environmentalists over the venue being built on a pristine forest sacred to locals caused construction delays that nearly forced pre-Olympic test events to be postponed. Gangwon officials want the national government to share costs for rebuilding the forest, which could be as much as 102 billion won ($95 million). ___ NO FISH Despite more than a decade of planning, Gangwon remains unsure what to do with the Olympic facilities it will keep. Winter sports facilities are often harder to maintain than summer ones because of the higher costs for maintaining ice and snow and the usually smaller number of people they attract. That's especially true in South Korea, which doesn't have a strong winter sports culture. Not all ideas are welcome. Gangwon officials say they never seriously considered a proposal to convert the 8,000-seat Gangneung Oval, the Olympic speed skating venue, into a refrigerated warehouse for seafood. Officials were unwilling to have frozen fish as part of their Olympic legacy. Gangwon officials also dismissed a theme park developer's suggestion to make the stadium a gambling venue where people place bets on skating races, citing the country's strict laws and largely negative view of gambling. A plan to have the 10,000-capacity Gangneung Hockey Center host a corporate league hockey team fell apart. Even worse off are Pyeongchang's bobsleigh track, ski jump hill and the biathlon and cross-country skiing venues, which were built for sports South Koreans are largely uninterested in. After its final inspection visit in August, the International Olympic Committee warned Pyeongchang's organizers that they risked creating white elephants from Olympic venues, though it didn't offer specific suggestions for what to do differently. Cautionary tales come from Athens, which was left with a slew of abandoned stadiums after the 2004 Summer Games that some say contributed to Greece's financial meltdown and Nagano, the Japanese town that never got the tourism bump it expected after spending an estimated $10.5 billion for the 1998 Winter Games. Some Olympic venues have proved to be too costly to maintain. The $100 million luge and bobsled track built in Turin for the 2006 games was later dismantled because of high operating costs. Pyeongchang will be only the second Olympic host to dismantle its ceremonial Olympic Stadium immediately after the games — the 1992 Winter Olympics host Albertville did so as well. ___ 'MONEY-DRINKING HIPPOS' Gangwon has demanded that the national government in Seoul pay for maintaining at least four Olympic facilities after the Games — the speed skating arena, hockey center, bobsleigh track and ski jump hill. This would save the province about 6 billion won ($5.5 million) a year, according to Park Cheol-sin, a Gangwon official. But the national government says doing so would be unfair to other South Korean cities that struggled financially after hosting large sports events. Incheon, the indebted 2014 Asian Games host, has a slew of unused stadiums now mocked as "money-drinking hippos." It would also be a hard sell to taxpayers outside of Gangwon, said Lee Jae-soon, an official from the Ministry of Culture, Sports and Tourism. Unlike the 1988 Olympics and the 2002 World Cup, which were brought to South Korea after bids driven by the national government, the provincial government led the bid for the Pyeongchang games and it did so without any commitment from Seoul over footing the bill. Under current plans, Gangwon will be managing at least six Olympic facilities after the games. These facilities will create a 9.2 billion won ($8.5 million) deficit for the province every year, a sizable burden for a quickly-aging region that had the lowest income level among South Korean provinces in 2013, according to the Korea Industrial Strategy Institute, which was commissioned by Gangwon to analyze costs. Hong Jin-won, a Gangneung resident and activist who has been monitoring Olympic preparations for years, said the real deficit could be even bigger. The institute's calculation is based on assumptions that each facility would generate at least moderate levels of income, which Hong says is no sure thing. He said that could mean welfare spending gets slashed to help make up the lack of money. South Korea, a rapidly-aging country with a worsening job market and widening rich-poor gap, has by far the highest elderly poverty rate among rich nations, according to Organization for Economic Cooperation and Development figures. If Seoul doesn't pay for the Olympic facilities, and Gangwon can't turn them into cultural or leisure facilities, it might make more sense for Gangwon to just tear them down. Park said the national government must step up because the "Olympics are a national event, not a Gangwon event.".....»»

Category: sportsSource:  abscbnRelated NewsDec 15th, 2017

Globe eyes 587K broadband lines

GLOBE Telecom claims to be on track to meet its target to deploy more than 500,000 broadband lines this year. The company said on Monday that it was targeting to roll out 587,000 broadband lines this 2017, higher than the 336,000 lines deployed a year ago. Joel Agustin, Globe senior vice president for Program Governance, [...] The post Globe eyes 587K broadband lines appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsNov 14th, 2017

ABS-CBN on track to hit income target

MANILA, Philippines — Media and entertainment firm ABS-CBN Corp......»»

Category: financeSource:  philstarRelated NewsNov 11th, 2017

Cebu Landmasters Grows Q3 Profit by 105%, On Track to Surpass P1.2-B Target for 2017

Homegrown property developer Cebu Landmasters Inc. (CLI) is on track to surpass the P1.2-billion net income year-end target as it grew its third-quarter 2017 profit by 105% on the back of record real estate earnings.... The post Cebu Landmasters Grows Q3 Profit by 105%, On Track to Surpass P1.2-B Target for 2017 appeared first on MetroCebu News......»»

Category: newsSource:  metrocebuRelated NewsNov 9th, 2017

Tale of 2 cities: Olympics sponsors in Pyeongchang and Tokyo

em>By Youkyung Lee and Mari Yamaguchi, Associated Press /em> SEOUL, South Korea (AP) — The Winter Olympics coming to South Korea in February offer an example of the Olympian efforts often required to meet corporate sponsorship goals. Tokyo tells a different story: The coffers are already overflowing for the 2020 Summer Games. It's a tale of two cities and two Olympics — winter and summer. Pyeongchang is a little-known destination in one of South Korea's poorest provinces. It is the 'little town that could,' bidding twice unsuccessfully for the Winter Olympics before winning on its third try. A final push enabled it to reach its sponsorship target of 940 billion won ($830 million) in September, with just five months to go. Tokyo is an established global capital, and the Summer Games usually generate more excitement — and more money. Organizers have raised 300 billion yen ($2.7 billion) in sponsorship, twice any previous Olympics. International Olympic Committee Vice President John Coates describes it as a remarkable achievement. The divergent experiences of two Asian host cities illustrate the challenges that smaller bidders face, as well as South Korea's dependence on the big family-owned companies that dominate its economy. Not that Tokyo is home-free. The cost of the 2020 Games has nearly doubled from initial projections. As with most Olympics, taxpayers will have to foot a good part of the bill. ___ strong>WHERE 'CHAEBOLS' RULE /strong> Starting with the 1988 Seoul Olympics, South Korea has used mega-events such as the soccer World Cup to raise the profile of the country and its manufacturing exporters. Pyeongchang is different. The project was initiated by local politicians in an area long alienated politically and economically in South Korea's rise to prosperity. Some feared people would confuse the city's name with Pyongyang, the North Korean capital. They couldn't count on the automatic support of the huge family-run conglomerates, known as 'chaebol,' such as Samsung, Hyundai and LG. 'When such mega-events were the nation-state's key project, the chaebol were called on and were expected to become the leading participants,' said Joo Yu-min, a professor at the National University of Singapore who co-authored a book on South Korea's use of mega-events. In the end, the national government brought the conglomerates in, first in the bid process, and then for sponsorship. That underscores both the outsized role they play in the economy and their close ties with government. They owe a debt to special treatment from the government, which in turn used them to industrialize the country after the devastating 1950-53 Korean War. After Pyeongchang's bid was rejected a second time, the government called on Samsung and others to help. The president even pardoned Lee Kun-hee, the patriarch of the Samsung founding family who had been an IOC member but voluntarily suspended his membership after being indicted for tax evasion. The IOC reinstated Lee in 2010 with a reprimand and some restrictions, allowing him to lobby heavily for what became Pyeongchang's winning bid in 2011. It took three years for the organizing committee to sign its first domestic sponsor, KT Corp., the country's second-largest mobile carrier. Again, the national government asked the conglomerates for help. All the major ones signed on, after the office of then-President Park Geun-hye made a special request and multichannel pressures for financial assistance, Joo said. Elsewhere, companies may weigh sponsorship decisions based more on the marketing benefits. 'In South Korea, companies make donations out of a sense of duty that they are being part of the national event,' said Park Dong Min, the executive director overseeing membership at the Korea Chamber of Commerce and Industry. Sponsors who signed up late weren't willing to give as much, because there was less time to enjoy the marketing benefits. A bank that signed on less than a year before the Games significantly reduced its sponsorship. To top it off, a massive sports-related political corruption scandal rocked South Korea in 2016, just when Pyeongchang was making last-ditch efforts to raise sponsorship. 'Companies showed some reluctance' to sponsor the Olympics, said Eom Chanwang, director of the Pyeongchang organizing committee marketing team. 'Nevertheless, they still joined.' The scandal brought down Park, the president. Lee Jae-yong, the heir to the Samsung group, received a five-year sentence for bribery. Lee, who has appealed, had become de facto chief of the Samsung group after his father Lee Kun-hee, the IOC member pardoned in late 2009, fell ill. It was the younger Lee who signed an agreement with IOC President Thomas Bach to extend Samsung Electronics' sponsorship of the Olympics globally through 2020. Samsung declined interviews for this story. With the scandal still fresh in people's minds, major companies have held back from launching full-fledged marketing to promote the Games. 'Samsung traditionally has done consumer marketing through the Olympics, but because its chief is in jail, it cannot do as much these days,' said Kim Do-kyun, a sports professor at Kyung Hee University Graduate School of Physical Education. The Pyeongchang Games were the biggest victim of the scandal, he said. ___ strong>SUMMER OF '64 /strong> The president of Japan's biggest toilet manufacturer was seven years old when the Olympics first came to Japan. TOTO Ltd. made news in 1964 for its prefabricated toilet-and-bath units that helped speed the construction of a luxury hotel, the New Otani, in time for the Games. The company, now known for high-tech toilets that baffle some foreign visitors, is back as a sponsor of Tokyo 2020. 'I feel our company and the Olympics have been bonded by fate,' TOTO president Madoka Kitamura said at a sponsorship signing ceremony at the same hotel last year. The $2.7 billion in sponsorship for Tokyo 2020 is more than three times the original estimate. By comparison, sponsorship revenue was $848 million in Rio de Janeiro last year, and about $1.2 billion for both London 2012 and Beijing 2008. The Winter Olympics typically attract less, though Sochi, Russia, raised $1.2 billion in 2014. Analysts attribute Tokyo's success to both patriotism and a sense of nostalgia for the 1964 Summer Games. They were much more than a sports contest for Japan. They were a moment of pride, marking the country's return as an industrial power after the devastation of World War II and a seven-year U.S. occupation. 'All of Japan still recognizes the unique role that the 1964 Olympics played in Japan's stepping out onto the world stage,' said Michael Payne, a former IOC marketing director who now works as a consultant. 'Many of the CEOs of top Japanese companies would have been young kids back in '64 and are very aware of the role those Games played for the psychological recovery from the Second World War.' They grew up with the high-speed 'Shinkansen' bullet train, inaugurated in 1964; modern expressways and western-style toilets, all symbols of Japan's postwar economic growth. 'Now they have become business leaders, they want to contribute and leave something behind that can be remembered for the next 50 years,' said Masahiko Sakamaki, executive director of marketing for the Tokyo organizing committee. He said that memories of the recovery may have boosted interest in sponsorship, as Japan was still reeling from a deadly 2011 earthquake and tsunami when Tokyo won the bid in 2013. Sakamaki said the organizing committee started receiving sponsorship inquiries as soon as it was established in 2014, before the official start of sponsorship contracts in 2015. There is so much interest that the IOC is allowing Tokyo to have multiple sponsors in some categories, instead of the usual one, including in aviation, newspaper publishing, electronics and banking. TOTO officials won't say how much they are contributing, but media reports say companies in its sponsorship category give between 6 billion and 15 billion yen ($53 million to $133.5 million). Tokyo 2020 wouldn't comment on those reports. 'We believe our presence as part of an all-Japan effort toward a successful Olympics will enhance our favorable brand image,' said Mariko Shibasaki, the company's senior planner for sports communication. Thanks in part to robust sponsorship revenue, the organizing committee has increased its contribution to the cost of the games from 500 billion to 600 billion yen ($5.3 billion). The sponsorship revenue makes up half of the income in the privately-run organizing committee's operating budget. Other revenue comes from the International Olympic Committee, marketing and ticket sales. The overall cost of the Tokyo Olympics is estimated at 1.4 trillion yen (12.4 billion) with the Tokyo government shouldering 600 billion yen ($5.3 billion) and the remaining 200 billion yen (1.8 billion) paid by the national government and local governments hosting events. ___ em>Yamaguchi reported from Tokyo. Associated Press writer Stephen Wade in Rio de Janeiro contributed to this story. /em> .....»»

Category: sportsSource:  abscbnRelated NewsOct 12th, 2017

Megawide on track to hit income target despite slower revenues

Megawide on track to hit income target despite slower revenues.....»»

Category: newsSource:  rapplerRelated NewsAug 11th, 2017

PSE expects 4 more listings this year

MANILA, Philippines - The Philippine Stock Exchange expects four companies to list in the second half, on track to meet its target of raising P200 billion fr.....»»

Category: financeSource:  philstarRelated NewsAug 3rd, 2017

Anchor Land on track to meet earnings target

MANILA, Philippines - Property developer Anchor Land Holdings, Inc......»»

Category: financeSource:  philstarRelated NewsJun 29th, 2017

Corporate News: CIC aims to grow earnings by 15% this year

CONCEPCION Industrial, Corp. (CIC) expects profit and revenues to increase by 15% this year, keeping the company on track to meet its P50-billion revenue target by 2020......»»

Category: financeSource:  bworldonlineRelated NewsJun 7th, 2017

Philippines on Track to Meet 2017 Gross Domestic Product Growth Target

Philippines on Track to Meet 2017 Gross Domestic Product Growth Target.....»»

Category: newsSource:  metrocebuRelated NewsMay 19th, 2017

PLDT on track to hit core income target

MANILA, Philippines -  PLDT Inc......»»

Category: financeSource:  philstarRelated NewsMay 12th, 2017

Economic planner sees Q1 GDP growing at least 6.5-7%

THE PHILIPPINE ECONOMY is expected to expand between 6.5% and 7.0% in the first quarter or faster, the socioeconomic planning secretary said on Thursday, putting the government on track to meet its full-year target......»»

Category: newsSource:  bworldonlineRelated NewsMar 23rd, 2017

ALI on track to hit net income target

MANILA, Philippines -  Ayala Land Inc., the property and mall developer of the Ayala Group, is on track to hit its net income target of P40 billion by 2020 a.....»»

Category: financeSource:  philstarRelated NewsFeb 19th, 2017

PAL likely to hit 13.5 M passenger target

MANILA, Philippines - The national carrier, which is on track to meet its passenger volume target of 13.5 million this year, is aiming to increase the number.....»»

Category: financeSource:  philstarRelated NewsDec 26th, 2016