Advertisements


Puregold allots P5 billion to acquire stores and expand reach

The grocery operator was one of the few companies that benefited from stay-at-home consumers......»»

Category: financeSource: philstar philstarOct 29th, 2020

Awash with cash, Puregold to borrow P12-B to lock in low rates

Grocery operator Puregold Price Club Inc. announced Friday its plan to borrow P12 billion from investors to expand the number of its stores in the country......»»

Category: financeSource:  philstarRelated NewsSep 25th, 2020

Puregold raises P12 billion as planned to expand business

“In line with this, the Company will use the proceeds from this notes fundraising to fuel growth initiatives and accelerate business expansion,” the company added. .....»»

Category: financeSource:  philstarRelated NewsOct 1st, 2020

Puregold& rsquo;s board approves plan to issue P12-billion notes

Puregold Price Club Inc. plans to issue P12 billion worth of corporate notes to fund the rollout of more grocery stores across the country......»»

Category: financeSource:  thestandardRelated NewsSep 26th, 2020

Sun Group allots P300 million for Philippines expansion

The company behind Xtreme Appliances is planning to spend P300 million to expand its presence in the country by opening a total of 60 stores up to next year......»»

Category: financeSource:  philstarRelated NewsSep 13th, 2020

Food retail grows into a $60 billion industry

The country’s food retail industry will continue to expand, with total sales expected to reach a record high $60 billion, as the coronavirus disease pandemic has forced people to consume and shift to delivery of food items......»»

Category: financeSource:  philstarRelated NewsJul 4th, 2020

Cosco bullish, allots P3.6b for expansion of Puregold

Cosco Capital Inc., the listed retail holding company of businessman Lucio Co, said it will spend P3.6 billion in 2020 primarily to fund the expansion of grocery chain Puregold......»»

Category: financeSource:  thestandardRelated NewsJul 2nd, 2020

Puregold income hits P6.75B in 2019

Puregold Price Club Inc. saw a 16-percent growth in its consolidated core net income to P6.75 billion last year from P5.82 billion in 2018. In a disclosure on Wednesday, the listed retail store operator said its stores recorded a 4.6-percent same-store sales growth (SSSG) in 2019 and S&R registered an SSSG of 8.3 percent. These […].....»»

Category: newsSource:  manilatimes_netRelated NewsMay 27th, 2020

Jollibee allots P7B for business transformation

Listed Jollibee Foods Corp. (JFC) is looking to spend P7 billion to implement changes in its global business structure. In a disclosure on Friday, the fast food giant said the amount would be used in the rationalization of its nonperforming stores, store network, supply chain facilities and management, and support group structure. The expense provision […].....»»

Category: newsSource:  manilatimes_netRelated NewsMay 23rd, 2020

Eastern allots P2.8 billion to modernize network

Eastern Communications on Monday said it is spending P2.8 billion to expand its high-speed broadband network nationwide......»»

Category: financeSource:  thestandardRelated NewsFeb 17th, 2020

Century Properties allots P30 billion capex for next 3 years

Century Properties Group Inc., the listed realty firm of the Antonio family, is pouring in P30 billion in capital expenditures in the next three years to expand its businesses......»»

Category: financeSource:  philstarRelated NewsJan 10th, 2020

Kansas City Royals being sold in deal expected to fetch $1B

By Dave Skretta, Associated Press KANSAS CITY, Mo. (AP) — David Glass and his family had a very specific set of qualities they were searching for in a potential owner when they decided to put the Kansas City Royals on the market. They wanted an astute and successful businessman, someone with local ties who, perhaps most importantly, had a deep love for baseball. John Sherman fit that description perfectly. So on Friday, the Glass family announced the sale of the two-time World Series champions to an ownership group led by Sherman in a deal expected to be worth about $1 billion. Sherman and his local co-investors will become only the third owners since Ewing Kauffman founded the club in 1969. "The decision to sell the Royals was difficult for our family," said Glass, whose son Dan has served as the Royals' president. "Our goal, which I firmly believe we've achieved, was to have someone local, who truly loved the game of baseball and who would be a great steward for this franchise going forward. In John Sherman we have found everything we were looking for in taking ownership. The 64-year-old Sherman has lived in Kansas City for more than four decades, even after he bought an interest in the Cleveland Indians. He founded, built and then sold a series of energy companies, and he has remained an influential local businessman, dabbling in agriculture and biosciences. Sherman, who played quarterback at nearby Ottawa University, is also a well-respected civic leader, even though he keeps a low profile. He has given time and money to the Truman Presidential Library in nearby Independence, the Negro Leagues Museum in Kansas City, and several local schools. He and his wife, Marny, also work with Teach for America and other programs serving underprivileged youth. "I am enormously grateful to David and the Glass family for this extraordinary opportunity," Sherman said in a statement, "and am humbled by the chance to team up with a distinguished group of local investors to carry forward and build on this rich Kansas City Royals legacy. "Our goal will be threefold: to compete for a championship on behalf of our fans; to honor their passion, their experience and their unwavering commitment; and to carry their hopes and dreams forward in this great Kansas City region we all love for decades to come." Sherman will need to divest his interest in the Cleveland Indians, believed to be about 30 percent of the franchise, and the deal is subject to the approval of Major League Baseball. Those hurdles should be cleared before owners vote on the sale at their meeting Nov. 21. "There's no way that Mr. Glass and the Glass family would entertain selling this team unless they could find what they believe to be the perfect owner who represents everything they stand for, and would go on and represent what baseball means to Kansas City," Royals general manager Dayton Moore said. Sherman was introduced to Dolan by Steve Greenberg, the son of Hall of Famer Hank Greenberg. His financial involvement allowed the Indians to push their payroll over the years, including in 2016, when they acquired All-Star reliever Andrew Miller from the Yankees before the trading deadline. The Indians proceeded to reach the World Series for the first time since 1997. "We're very supportive of John and his group reaching an agreement to acquire ownership of his hometown Kansas City Royals," Indians president Paul Dolan said. "His acquisition of the Royals is good for the game of baseball and I wish him nothing but the best." Before the Indians broke through, the Royals had represented the American League in the previous two Fall Classics, winning their second World Series title when they defeated the New York Mets in 2015. But the back-to-back pennants, and the accompanying rise boom in fan interest, came after a long period of dismal performances that left Glass with a mixed legacy in Kansas City. On one hand, the 83-year-old longtime Wal-Mart executive and his family kept the club in town following Kauffman's death in 1993. Glass helped serve as caretaker of the organization until April 2000, when he purchased sole ownership for $96 million — considered a strong bid at the time. On the other hand, Glass was derided during the Royals' many 100-loss seasons for being unwilling to spend money on payroll, something he rectified in more recent years. Many fans also viewed him as an absentee owner whose family was more committed to northwest Arkansas than Kansas City. "He's one of the most unique people I've ever met," countered Royals manager Ned Yost. "Probably starting in 2012, my whole focus was to win a world championship for him. I didn't have any understanding or inkling what it would mean to win a championship for the city. I found that out later. But I wanted to win a championship for him. Every waking moment was meant with him in mind." Yost said watching Glass raise the World Series trophy at Citi Field in 2015 was "one of the top three highlights of my baseball career, because we had accomplished it for him." Glass has reportedly been in declining health, increasing the urgency to find a new owner. The goal all along was to identify someone with ties to Kansas City who would keep the club in town. "I will never forget the thrill of seeing over 800,000 people of this community come together on one sunny November day to salute the newly crowned world champions. It's been a fantastic ride," Glass said, "and I want to thank our great fans for supporting us through the years. But now it's time for someone else to oversee this franchise into its next championship." The sale comes at an opportune time for other reasons, too. Their local television contract expires after this season, and the Royals are expected to sign a new deal that would double annual rights fees to about $50 million. They also have just 12 years left on their lease at Kauffman Stadium, meaning the push for more renovations or a new ballpark — potentially one in the revitalized downtown area — is expected to begin in the next few years. On the field, the club is in the midst of a massive rebuilding effort while barreling toward another 100-loss season. But the Royals have a bevy of young prospects rapidly rising through the minors, and the front office is hopeful the Royals will contend within the next two years. "I heard he's a former season-ticket holder, so that's nice to have someone who's had some love for this city and wants to do what's best," said outfielder Alex Gordon, the Royals' longest-tenured player and a part of both AL championship teams. "This is a great town with great fans. We haven't been giving them a lot the last few years. Hopefully this is just the start of turning things around." ___ AP Sports Writer Tom Withers and AP freelance writer David Smale contributed to this report......»»

Category: sportsSource:  abscbnRelated NewsAug 31st, 2019

Phoenix allots P4.9 B for property holding unit

MANILA, Philippines — Listed Phoenix Petroleum Philippines Inc. is pouring in P4.9 billion over a three-year period to expand its property holding unit......»»

Category: financeSource:  philstarRelated NewsAug 24th, 2019

CNPF allots P2-B capex this year

CENTURY Pacific Food, Inc. (CNPF) is setting aside P2 billion for capital expenditures (capex) this year to expand its capacity, as it targets to grow its bottom line at a double-digit pace......»»

Category: newsSource:  bworldonlineRelated NewsJul 2nd, 2019

Kuya J Group plans P1.5-B expansion of Popeyes stores

Kuya J Group Holdings Inc. plans to spend P1.5 billion to expand fast food chain Popeyes by opening about 100 stores over a three-year period......»»

Category: financeSource:  philstarRelated NewsJun 28th, 2019

AIA Group investing P3 B into Philippine operations

AIA Group Ltd. has committed to inject P3 billion in additional investments over the next three years to its Philippine arm to expand its business reach across the country by building the company’s distribution......»»

Category: financeSource:  philstarRelated NewsMay 4th, 2019

FIFA to expand World Cup to 48 teams in 2026

GRAHAM DUNBAR, AP Sports Writer br /> ZURICH (AP) — FIFA will expand the World Cup to 48 teams, adding 16 extra nations to the 2026 tournament which is likely to be held in North America. President Gianni Infantino's favored plan — for 16 three-team groups with the top two advancing to a round of 32 — was unanimously approved Tuesday by the FIFA Council. It meets Infantino's election pledge of a bigger World Cup, and should help fund promised raises for FIFA's 211 member federations. With 80 matches instead of 64, FIFA forecasts the equivalent of $1 billion extra income at current rates from broadcasting and sponsor deals, plus ticket sales, compared to $5.5 billion revenue forecast for the 2018 World Cup in Russia. FIFA projects an increased profit of $640 million despite some extra operating costs and prize money for teams. FIFA's six continents should find out by May how many extra places they will each get. UEFA wants 16 European teams at the tournament, which is strongly favored to be played in North America. The CONCACAF region has not hosted the World Cup since the 1994 tournament in the United States. American, Canadian and Mexican soccer leaders have had informal talks about a co-hosting bid. Africa and Asia could be winners in a bigger World Cup with up to nine places each. They had only five and four teams, respectively, at the 2014 World Cup in Brazil. Still, FIFA said it expects the standard of soccer to drop compared to the 32-team format locked in for the next two World Cups in Russia and Qatar. The 'absolute quality' of play, defined by high-ranked teams facing each other most often, is achieved by 32 teams, FIFA acknowledged in a research document sent to members last month. It made 10,000 tournament simulations to reach that conclusion. Instead, Infantino wants to create fervor and months of anticipation back home in the 16 extra nations which would qualify, some probably making their World Cup debut. FIFA has pointed to Costa Rica, Wales and Iceland as examples of teams which overachieved at recent tournaments. FIFA must break with soccer tradition to make its new format work after an original 48-team plan — with an opening playoff round sending 16 'one-and-done' teams home early — was unpopular. Instead, three-team groups will replace the usual groups of four to create simple progress to a knockout bracket. However, it leaves one team idle for final group games and could risk collusion between the other two teams. FIFA said it could guard against result-rigging by introducing penalty shootouts after group games that end in draws. Despite the 16 extra games, FIFA believes the current maximum of stadiums needed will stay at the 12 used by Brazil and Russia. However, the demand for more training bases and hotels means developed countries would be better equipped to win future hosting contests. North America is the strong favorite for 2026 because European and Asian countries are blocked by a FIFA rule excluding continents which hosted either of the two previous tournaments. Russia will host the World Cup next year and Qatar in 2022. South America has been focused on a centenary tournament including original 1930 host Uruguay, and African nations are seen as lacking existing capacity and unlikely to fund multi-billion dollar infrastructure spending. .....»»

Category: sportsSource:  abscbnRelated NewsJan 10th, 2017

FIFA set to approve bigger, richer World Cup on Tuesday

GRAHAM DUNBAR, AP Sports Writer   FIFA is set to make the World Cup bigger and richer, even if the price to pay is lower quality soccer. FIFA President Gianni Infantino hopes his ruling Council will agree Tuesday to expand the 2026 World Cup to 48 nations, playing in 16 groups of three teams. A decision could be delayed if some Council members demand to know exactly how many qualifying places each continent will get before agreeing to scrap the 32-team format. It has been successful, popular and profitable since 1998 and is locked in for the next two World Cups in Russia and Qatar. The prize of 16 extra places, and the biggest increases to Africa and Asia, has 'overwhelming' support from FIFA's 211 member federations, Infantino has said. Their promise of extra funding from Zurich could also be secured by FIFA's forecast 20 percent rise in rights fees paid by broadcasters and sponsors. 'Financially, the 48-team format is the most appealing or successful simply because the sporting element is prevailing and every match is important,' Infantino said two weeks ago. 'The decision should not be financially driven, neither in terms of revenue or costs ... but the driver should really be the development of football and boosting football all over the world.' World Cup champion Germany is not in favor. It argued that diluting the number of European and South American teams — which won all 20 titles since 1930 — could 'strengthen the imbalance' seen at some tournaments. 'The (German soccer federation) fundamentally believe that the current 32-team format is the best option,' its president Reinhard Grindel said last week. Germany has no delegate at Tuesday's meeting though Grindel is set to join the FIFA Council in May. FIFA acknowledged the risk of lower standards in a research document sent to members last month, as first reported by The Associated Press. The 'absolute quality' of soccer, defined by high-ranked teams playing each other most often, is achieved by 32 teams, FIFA said, citing 10,000 tournament simulations made to reach that conclusion. Still, Infantino promised voters more World Cup places and funding raises before his election last February. FIFA expects $5.5 billion income tied to the 2018 World Cup in Russia, though 25 of 34 sponsorship slots are unsold. The research document predicted the equivalent of $6.5 billion revenue from a 48-team tournament in the '16x3' format, which would send two teams from each group to a new Round of 32 knockout bracket. All 80 matches would play in an exclusive time slot. Currently, 64 World Cup matches have 56 broadcast slots because the eight four-team groups play their last matches simultaneously. FIFA predicts organizing costs for '16x3' rising from $2 billion to $2.3 billion, giving a potential profit rise of $640 million. Though a '16x3' World Cup would still need a maximum of 12 stadiums, the demand for 16 more top-quality training camps and hotels suggests FIFA would look for 2026 hosts with existing capacity. A North American bid from two or three of the United States, Canada and Mexico is currently favored in a contest that could start within weeks. Five options are open Tuesday, including staying with 32 teams. Infantino campaigned last year on a 40-team promise, in either eight groups of five teams or 10 groups of four teams. Neither impressed voters in recent regional meetings of FIFA member federations. When the FIFA leader first proposed 48 teams, it included an opening playoff round. The 16 winners would join 16 seeded teams in a traditional 32-team group stage. FIFA members disliked 'one-and-done' teams going home before the 'real' World Cup kicks off. It would also stretch to a 39-day event with more short-notice travel for fans. Africa and Asia could be the big winners, and FIFA hopes new teams would include another Iceland, Wales and Costa Rica — over-achieving teams and feelgood stories at recent tournaments. Still, hapless Tahiti was outclassed at the 2013 Confederations Cup, conceding 24 goals in three games. 'The goal of expanding the FIFA World Cup,' it has told members, 'is to further advance the vision to promote the game of football, protect its integrity and bring the game to all.' ___ Entry quotas for 2018 World Cup: Europe 14 (including host Russia to qualify direct); Africa 5; Asia and South America 4.5 each; North, Central America and Caribbean 3.5; Oceania 0.5. .....»»

Category: sportsSource:  abscbnRelated NewsJan 9th, 2017

Corporate News: Arthaland to spend up to P30 billion in next 6 years

ARTHALAND Corp. is spending as much as P30 billion to develop properties and acquire land toward 2022, with more leasable projects identified to expand its recurring revenue base to 40% within the same period......»»

Category: financeSource:  bworldonlineRelated NewsDec 6th, 2016

FastCat allots $160 M for new vessels

MANILA, Philippines - The operator of FastCat roll-on/roll-off ferries is looking to invest around $160 million to acquire new vessels as it plans to expand.....»»

Category: financeSource:  philstarRelated NewsOct 14th, 2016

Security Bank allots P21 billion for loan losses

Security Bank Corp. has set aside P21.1 billion for potential credit losses in nine months as it continues to help clients survive uncertainties brought about by the COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsNov 14th, 2020