drbubb
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OPPORTUNITIES IN COMMERCIAL PROPERTY (Or too early)
The Next Stage Of The Banking Crisis, Commercial Real Estate
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Last year's report...
June 22, 2022 | 12:00amMANILA, Philippines — Empire East Land Holdings Inc., owned by tycoon Andrew Tan, will continue to develop projects that will contribute to homebuyers’ overall lifestyle improvement and well-being.
During the company’s annual stockholders meeting yesterday, Empire East president and CEO Anthony Charlemagne Yu said the pandemic prompted Filipinos to aspire for safer and secure homes.
Empire East saw the pandemic as an opportunity to improve the home buying process and highlight accessibility of its developments, which are near transport-oriented developments.
In 2021, Empire East continued to apply and adapt strategies that would allow them to optimize operations and performance as the company treads the road to financial growth and recovery.
The company announced a 52 percent increase in net income to P797.1 million in 2021 from the previous year’s P524.9 million
“Empire East continued to report healthy and steady growth in profit in 2021. Our performance is attributed to optimized costs, new client acquisition, and attractive payment offers for our homebuyers,” Yu said.
The company reported brisk sales on the first two towers of its newest residential development – the 37-tower Empire East Highland City in Felix Avenue, Pasig-Cainta.
“We also achieved P2.69 billion worth of reservation sales for our Empire East Highland City Arcadia Towers 1 and 2, a 25.1 percent increase from 2020’s performance,” Yu said.
The market acceptance of its newest township in Pasig-Cainta prompted Empire East to open its third tower for pre-selling.
Empire East’s residential developments across all projects also contributed to an overall reservation sales of 10.07 billion, a 12.6 percent increase from the previous year.
The company has focused on pursuing its vision of moving communities ahead by building its newest sustainable development in Pasig-Cainta and reaching out to more communities through its corporate social responsibility initiatives.
Yu said Empire East would continue to focus on maintaining affordable prices despite the increasing demand for homes as the country treads toward recovery.
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Update, 2023 /
"BREAKOUT TIME" may be here!, I said July 20th
MEG-etc: w/AGI: 2.06 vs. MReit (14.00): R-14.7%, 6.80x MEG ... 10d: 2023:
CLOSE LOOK... / Mreit vs. TLT, MEG from 1/22: 8/22: 10d: Breaking 252d MA? : w/MCD
MEG. w/AGI : 0.123/=5.83%. MEG-2.11/ Mreit-14.10=14.9%. / TLT: $97.19=2.17%, AGI: 13.00, 8.09.23
prev. 6.27.23: 0.152/=7.60%. MEG-2.00/ Mreit-14.76=13.6%. / TLT: 103.4=1.93%, AGI: 13.42, 6.27.23
MEG-etc. from 2016: ytd: 10d: MEG: 2.01, AGI: 13.22, JFC: 236.20
5.03.: 0.182 /2.04=8.92%. MEG/ Mreit-14.70=13.9%, agi:12.66. ... 2023:
OLD. 6.27.23
w/MCD: Agi (13.60) / Mcd ($295) = 4.61%
2022: MREIT appears to be breaking out over the 252d MA, at P 14.60
ELI: 0.186 / MEG: 2.00 = Ratio 9.3% / Psei-6,500: 0.28%, 3.01% at 3.31.23
from mid-2022: MEG-etc:
ELI .. 2012: 2019: 2022: Last: x / Book Value: 1.85 at YE'21
ELI/ EmpireEast: 3/’23 : 2022 : 2021 : 2020 : 2019 : 2018 : 2017 :
Book Value/sh. : P1.88E: P1.87E: P 1.85 : P 1.79 : P 1.76 : P 1.71 : P 1.72 :Cash Per Share: 0.000 : 0.24E : 0.231 : 0.145 : 0.078 : 0.124 : 0.087 :
Cash Flow/sh. : 0.000 : 0.05E : 0.059 : 0.044 : 0.050 : 0.040 : 0.041 :
Earnings /sh. : 0.000 : 0.05E : 0.059 : 0.036 : 0.042 : 0.036 : 0.039 :
=== Net Inc.: ====. : ==== : 806M: 531M : 622M : 534M : 569M :
=== EBITDA : ====. : ==== : 1.05B : 1.23B : 1.37B : 1.11 B : 1.19 B :
Adv. Related pt: ====. : 5.72B : 5.50B :
Cust. Deposits : ====. : 4.57B : 4.46B :
Tot’l Borrowing: ====. : ==== : 1.25B : 1.24B : 1.58B : 2.06B : 2.00B :
Sh’hold.Equity : ====. : 27.3E : 27.2B : 26,2B : 25.8B : 25.1B : 25.2B :
= TB/ Eq. Ratio: ====. : ==== : 4.6% : 4.7% : 6.1% : 8.2% : 7.9% :
Note: shares OS: 14.68B > 11.99M (81.7%) held by Phl.Nominee, 2017In 2022: Fair Value Losses on FVOCI : -P399.7M ! (-33.8M in 2021)
Real Estate Sales
The Group’s marketing and development concepts, sales strategies, project location, and
flexible payment scheme remain to be its competitive advantages. Most projects of the Group are connected to the mass transit system and are conveniently located in business districts of Metro Manila.WEBSITE: ELI financial stmts: https://www.empire-east.com/business/company-disclosure
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EARNINGS AND BOOK VALUE, etc.
====. : 2019 : 2020 : 2021 : 2022 : 1stH: Q3 : Q4 : q4’22:
Revs. : 218.B: 157.B : 179.B : 291.B : 129B: 62.7B : ??? : 77. B:
Net Inc. 5.62B: (16.2B) 3.86B: 4.08B: 123M: 1.93B : ??? : (0.33B)
EBITDA 14.3B: (16.5B) 13.1B: 13.22B
T. Borr. 29.2B: 35.0B: 30.2B: 50.9B:
Sh. Eqy 39.8B: 23.6B: 26.2B: 28.9B:
D /E R : ??? : 115% : 107%: ===
BV / sh. 24.69: 14.65 : 16.22: 17.90: 18.09: 19.29 : ??? : 17.90 :
CF / sh.: P6.19: (7.40): P4.90: ??
E.P.S. : P3.48 (10.00) P2.39: P2.53: P0.07: P1.20 : ??? :
YrE. Pr. : 32.80: 20.65: 19.88: 16.90:
Div./sh.: P3.00: ====: ====: P1.00:
PER.yrE: 9.43x: NEG. 8.32x:
Yield. : 9.14%: 0.0% : 0.0% : 5.92%
======SHLPH / SHELL Philippines : ALL: 5yr: 2019-Log: 2022: 10d / 16.56 +0.40. PER:6.56x, Yield: 6.0%
from 2019-Log:
ALL:
====. : 3/ 23: 2022 : 2021 : 2020 : 2019 :
Net Inc. ====: 4.10B: 3.86B: (16.2B) 5.62B:
EBITDA ====: 14.0E: 13.1B: (16.5B): 14.3B:
T. Borr. ====: 30.0E: 30.2B: 35.0B: 29.2B:
Sh. Eqy ====: 28.0E: 26.2B: 23.6B: 39.8B:
D /E R : ====: 107%? 115%:
BV / sh. ====: 17.00E 16.22: 14.65: 24.69:
CF / sh.: ====: ====: P4.90: (7.40): P6.19:
E.P.S. : ====: ====: P2.39: (10.0): P3.48:
YrE. Pr. : 16.56: 16.90: 19.88: 20.65: 32.80:
Div./sh.: ==== : P1.00: ====: ====: P3.00:
PER.yrE: 6.55x: ====: 8.32x: NEG. : 9.43x:
Yield. : 6.05%: 5.92%: 0.00%. 0.00% 9.14%
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"2020 Starter Portfolio": UPDATED, late Mar.2023
Sym. : Company: 2.21.20: -High (in’20): vs.High: x25K: 3.30.23: '22-H: . P.Value : % Chg.
PSEI : PSEI Index: 7,370 : 9059: (01’18) : -18.7% : 13.57 : 6,709 : 7,552: P91,041: - 8.96%
GLO. : Globe Tel. : 1,889 : 2702: (06’15) : -30.3%: 13.2 : 2,060.: 3355: P27,192 : +8.77%
MBT : MetroBank 60.85 : 90.53 (01’18) : -32.8% : 401.8 : 57.30: 63.50: P23,023: - 7.91%
TEL. : PLDT Inc. : 1,025 : 3,422 (09’14) : -70.0%: 24.4 : 1,420: 1,984: P34,648: +38.6%
SHLph P.Shell Pet: 28.95 : 79.35 (02’17) : -63.5%: 863.6 : 16.70 : 22.25: P14,422: - 42.3%
Four Stocks ==========================: P100K: ==== : ====: P99,285 : -0.71%Thanks mainly to TEL, the 4-stocks portfolio was FLAT, hurt by SHLPH
And showed an outperformance of : P99,285 / 91,041 = +9.05%
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SHLPH / SHELL Philippines : ALL: 5yr: from 2019-Log: 2022: 10d / Last: 16.56 +0.40. PER:6.56x, Yield: 6.0%
from 2019-Log:
====. : 3/ 23: 2022 : 2021 : 2020 : 2019 :
Net Inc. ====: 4.10B: 3.86B: (16.2B) 5.62B:
EBITDA ====: 14.0E: 13.1B: (16.5B): 14.3B:
T. Borr. ====: 30.0E: 30.2B: 35.0B: 29.2B:
Sh. Eqy ====: 28.0E: 26.2B: 23.6B: 39.8B:
D /E R : ====: 107%? 115%:
BV / sh. ====: 17.00E 16.22: 14.65: 24.69:
CF / sh.: ====: ====: P4.90: (7.40): P6.19:
E.P.S. : ====: ====: P2.39: (10.0): P3.48:
YrE. Pr. : 16.56: 16.90: 19.88: 20.65: 32.80:
Div./sh.: ==== : P1.00: ====: ====: P3.00:
PER.yrE: 6.55x: ====: 8.32x: NEG. : 9.43x:
Yield. : 6.05%: 5.92%: 0.00%. 0.00% 9.14%
======SHLPH News
217 Shell Select stores, 223 Select Express, 93 Deli2Gos and 479 Lube bays nationwide. +first Shell Café in Phl.
SHLPH - "Shell Pilipinas continues recovery, posts P4.1B net income in 2022"C02370: Shell Pilipinas press release - 1Shell Pilipinas Corporation sustains its recovery momentum by generating Php4.1 billion net income in 2022, up by 6% from Php3.9 billion the previous year. This was achieved amidst a challenging year with high inflation, fuel price volatility brought by the Russia-Ukraine war, and Philippine Peso depreciation. The energy company's 2022 gains are attributed to its strong marketing performance as the year's volume delivery increased by 10%, and a sustained high premium fuel penetration. Operational cash flow, excluding movement in working capital, stands at Php1.8 billion, up from 2021's Php1.1 billion. "Powering progress for the Philippines will remain to be our commitment. The environment and our customers' needs are shifting, and Shell Pilipinas is well positioned to be a trusted partner in meeting the current and changing needs of our customers. We continue to be reliable, agile, flexible, and adaptive in this ever-changing landscape," says Lorelie Quiambao-Osial, Shell Pilipinas President and Chief Executive Officer. Mobility business The Mobility business sustains Shell V-Power's position as the most preferred brand in the Philippines, with a new and improved version launched last February 2023, which cleans 100% of performance- robbing deposits and prevents future build-up on vital engine parts.
The Non-Fuels Retail business posted a record profit of Php 2.6 billion, an increase of 24% versus 2021 with continued double-digit growth across segments. There are now 217 Shell Select stores, 223 Select Express, 93 Deli2Gos and 479 Lube bays nationwide. In addition, the business also launched the first Shell Café in the Philippines – a new offer that enhances fuel stations to be mobility destinations where customers can take care of themselves and their vehicles. Shell Go+, the Company's dedicated loyalty program and mobile application launched in 2021, hit its milestone of 2 million members. Shell Go+ has been generating incremental value in both fuel and non-fuel offerings per store visit.
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Increased industrial demand Commercial Fuels increased volume sales by 19%, showing a full bounce back to pre-pandemic levels garnering growth through key customer wins and strengthened reseller capability. Shell's Lubricants business maintains top brand preference for Shell Advance and Shell Helix in key sectors. The business garnered 9% increase in volume while sale of carbon neutral products delivered a 39% increase. This was in conjunction with their offer expansions on coolants, brake fluids and oil filters. Commercial Road Transport recovered well with a strong volume delivery in 2022 attributed to economic improvement, seasonality, and marketing programs. The Aviation business improved with 51% in volume delivery, driven by further border openings and lifting of travel restrictions. Construction and road grew volume by 25% compared to prior year, led by the sale of premium products. ...
Aside from its three import terminals in Batangas, Subic and Cagayan de Oro, construction is ongoing for the company's fourth medium-range capable import terminal in Darong, Davao del Sur, which will supply the growing energy requirements of the southern region. Commitment to decarbonization Shell Pilipinas aims to meet the country's current and future energy needs with a diversified energy mix and cleaner energy, and enjoins consumers and businesses to use energy better, do more with less, and make energy conservation a way of life.
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More than 130 of the company's mobility stations are solar-powered reinforced with energy efficient equipment deployed in many of the mobility sites. Shell Pilipinas also launched the first Shell branded electric vehicle charging facility in Shell Mobility Site in Mamplasan, Laguna which is currently the most powerful DC high performance fast charger in the Philippines....
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"SURPRISE" DROP in INFLATION may be coming
I am still optimistic about Bond yields falling ; TLT / Bonds rising into May-JuneWhy?Because year-to-year comparisons on CRB/inflation will go negative startingin April when Mar'23 vs. Apr'22 numbers come out. You can see in the chart below that the CRB index (252d/ 1 yr. MA) peaked in mid-Feb.23 at about 26.CRB.it / Commodity Research Bureau chart... ( update )
CRB index is mostly Energy and Agricultural commodities. It peaked in mid-Feb. And now year-on year comparisons will be negative. Surely, this can have a big impact on global inflation rates, albeit with a lag. And maybe with a longer lag in PHL. The CRB in March, the latest month of 2023, will be about -10% below last year's level. So in annual average, the calculation will be replacing high month(s) in the 12 month's average with cheaper months in 2023 as we roll into mid-2023. I look for "surprise" drops in reported inflation figures. ( Haha. It may be NO surprise for those who have seen this chart.). I may be proven wrong about sliding General Inflation, if the Non-commodity component of inflation remains stubbornly higher - Nevermond, This Data and this post will remain on my website, so you can see in hindsight how the call work outs. Along with my previous comments, of course, to see how accurate and consistent I have been in my forecasts.TYX / 30 Yr. Treasury Yield vs. CRB and XLE / Oil stock etf ( update )
However, the POSITIVE TREND WON'T PERSIST FOREVER. After mid-year, the 12 month's inflation numbers may stop falling, and start rising again. With the Fed given some leeway to CUT rates if inflation is less than forecast, I expect a "surprise" stock rally into May-June. And then maybe a stock CRASH in the second half, because the "virtuous" comparisons may turn negative after mid-year. There may be a nasty stock slide in Q3 or Q4.BTW, History has shown a Global correlation in interest rates. PHL 10 year rates, have tended to ride about 250-300 b.p. above the US 30 year Bond rate. So long as the Philippines inflation rates tend to move in a similar trend with US and global inflation trends, I would expect to see the Correlation with US bond yields to continue, albeit with PHL rates at a fairly consistent premium. -
MY VIEW seems to be contrary to the Consensus View... in the Philippines
Higher interest rates to come to fight sticky inflation!
Summer months but wintry news
...This year’s growth target of 6-7 percent and 6.5-8 percent in 2024 as well as the latest inflation forecasts of the BSP of 6 percent and 2.9 percent for the next two years must also hinge on the expected turnout of the weather this year and the next.
"Needless to say, this year’s growth target of 6-7 percent and 6.5-8 percent in 2024 as well as the latest inflation forecasts of the BSP of 6 percent and 2.9 percent for the next two years must also hinge on the expected turnout of the weather this year and the next. Admitting that “the balance of risks to the inflation outlook for 2023 and 2024 also continue to tilt heavily towards the upside,” the Board in its press statement last Thursday highlighted the impact of food supply shortages, higher transport fares, rising power rates and wage adjustments in 2023. A more explicit recognition of bad weather conditions could help prepare the public’s inflation expectations"
... The other wild card against growth and inflation is the risk of power interruption. With the summer months fast approaching, energy demand is expected to rise.
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"SURPRISE" DROP in INFLATION may be coming
I am still optimistic about Bond yields falling ; TLT / Bonds rising into May-JuneWhy?Because year-to-year comparisons on CRB/inflation will go negative startingin April when Mar'23 vs. Apr'22 numbers come out. You can see in the chart below that the CRB index (252d/ 1 yr. MA) peaked in mid-Feb.23 at about 26.CRB.it / Commodity Research Bureau chart... ( update )CRB index is mostly Energy and Agricultural commodities. It peaked in mid-Feb. And now year-on year comparisons will be negative. Surely, this can have a big impact on global inflation rates, albeit with a lag. And maybe with a longer lag in PHL. The CRB in March, the latest month of 2023, will be about -10% below last year's level. So in annual average, the calculation will be replacing high month(s) in the 12 month's average with cheaper months in 2023 as we roll into mid-2023. I look for "surprise" drops in reported inflation figures. ( Haha. It may be NO surprise for those who have seen this chart.). I may be proven wrong about sliding General Inflation, if the Non-commodity component of inflation remains stubbornly higher - Nevermond, This Data and this post will remain on my website, so you can see in hindsight how the call work outs. Along with my previous comments, of course, to see how accurate and consistent I have been in my forecasts.TYX / 30 Yr. Treasury Yield vs. CRB and XLE / Oil stock etf ( update )However, the POSITIVE TREND WON'T PERSIST FOREVER. After mid-year, the 12 month's inflation numbers may stop falling, and start rising again. With the Fed given some leeway to CUT rates if inflation is less than forecast, I expect a "surprise" stock rally into May-June. And then maybe a stock CRASH in the second half, because the "virtuous" comparisons may turn negative after mid-year. There may be a nasty stock slide in Q3 or Q4.BTW, History has shown a Global correlation in interest rates. PHL 10 year rates, have tended to ride about 250-300 b.p. above the US 30 year Bond rate. So long as the Philippines inflation rates tend to move in a similar trend with US and global inflation trends, I would expect to see the Correlation with US bond yields to continue, albeit with PHL rates at a fairly consistent premium. -
Update: FRES.L: 726P /SLV: 21.43: FNLPF: $8.96 (41.8%), AGQ: 29.37 (y%)
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FILRT - Filinvest REIT. All: 1yr: 10d / Last: 5.26 +0.01, +0.19% (Range: 5.10 to 7.50 )
- 1 / "Filinvest REIT Corp. (FILRT) FY2022 net income reaches P1.31B" March 22, 2023 -Filinvest REIT Corp. (FILRT), the flagship commercial REIT of the Filinvest group, recorded a net income of P1.31 billion in 2022. This was achieved on the back of rental and other revenues of P3.24 billion.
Average occupancy for the year was 89 percent, including the newly infused Boracay property that was added to the portfolio in December 2022. "The office leasing segment had its fair share of new challenges last year brought about by the globally changing workplace environment. Closer to home, the implementation of hybrid work set-ups in PEZA zones like our Northgate property affected our leasing patterns. Despite this headwind, FILRT demonstrated resiliency and forged ahead in growing the portfolio," said FILRT president and chief executive officer Maricel Brion-Lirio. FILRT signed new leases totaling 5,087 square meters and renewed 22,891 square meters or 96 percent of expiring leases in 2022. This year, new Letters of Intent were signed by traditional and BPO multinational companies to lease almost 9,000 square meters of office space and more than 13,300 square meters or 32 percent of the lease expiries for the year 2023 have already been renewed. The balance is due for renewal during the remainder of the year.
FILRT acquired a prime property with a gross leasable area (GLA) of 29,086 square meters in Boracay, Aklan in December 2022. The acquisition resulted in an increase in its portfolio by 9.65 percent in GLA terms. The Boracay property, which is leased to the well- regarded Crimson Resort and Spa Boracay, broadens FILRT's income profile mix beyond office leasing and into the hospitality sector. Moving forward, FILRT will continue to focus on diversifying its portfolio to improve the revenues of its existing prime office assets and to ultimately boost dividends for its shareholders.
- 2...This growing list of accolades supports FILRT's valuable distinction as the country's first sustainability-themed REIT.
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FLI - Filinvest Land, Inc. 10yr: 5yr: 2yr: 10d / Last: 0.76 +0.03, +4.1% (Range: 0.70 to 1.10 )
- 1 "Filinvest Land reports growth in 2022 driven by strong residential revenue performance" Filinvest Land, Inc.(FLI), one of the country's largest real estate developers, reported an increase of 20% in income before income tax for 2022, totaling Php 4.25 billion. Moreover, the company's consolidated revenues reached Php 19.94 billion, a 12% growth, driven by residential revenues which grew 14% to Php12.84 billion due to accelerated construction progress and strong performance of its housing projects in Cavite, Laguna, and Rizal, and its medium-rise condo projects in Metro Manila and Davao. "We are pleased with the continued growth of our residential business, and we expect to sustain this in 2023. Our efforts to boost our international and local sales networks, as well as our investments on digital and online platforms have proven effective. We continue to focus on addressing the needs of our homebuyers," said Tristan Las Marias, FLI President.Reservation sales grew by 13% to Php 18 billion as it launched seven new residential projects valued at Php5.9 billion located in Teresa in Rizal, San Rafael in Bulacan, Cavite, Pampanga and Metro Manila. It also launched its first project in Naga, Camarines Sur. Futura Monte Naga is a master-planned condo community offering four mid-rise, modern minimalist buildings set amid open spaces and a secure environment. Designed with starter families and healthy living in mind, 60% of the property is dedicated to breathable open spaces and amenities, making it an ideal community for those who value a balanced lifestyle. The company's mall rental revenues more than doubled amounting to Php 1.68 billion from Php796 million in 2021. The growth was due to improvement in its malls' occupancy and foot traffic, as well as the removal of rental concessions. "We anticipate continued growth in mall rental revenues going forward with the improved shopper traffic," added Las Marias.- 2Office leasing revenues amounted to Php 4.67 billion, or a slight decline of 3% due to challenges in relation to hybrid work arrangements. Despite the challenges, the company was able to sign new leases for FILRT and Non-FILRT office buildings totaling 19,670 square meters and renewed 28,370 square meters or 90 percent of expiring leases in 2022.Year : New L.: Expiring: Renewed: Pct.
SQM
2022: 19,670 : 31,500 : 28,370 : 90% (over 12 mo.s)
2023: 17,000 : 55,400 : 18,400 : 33% (as of end-Feb)Leasees; FILrt, & Non-FILrt: traditional and BPO multinational co’s
This year, new Letters of Intent were signed by traditional and BPO multinational companies to lease almost 17,000 square meters of office space and more than 18,400 square meters or 33 percent of the lease expiries for the year 2023 have already been renewed as of end Feb. 2023. The balance is due for renewal during the remainder of the year. The co-living space The Crib located in Filinvest Mimosa also welcomed its first guests. The company has also started the construction of ready-built- factory (RBF) buildings in its innovation parks in Ciudad de Calamba (four buildings) and New Clark City (two buildings).Consolidated net income after tax reached Php3.52 billion, an 18% decline from 2021 (P 4.3bn.) which included a one-time tax benefit from the CREATE law. Net income attributable to equity holders of the parent amounted to Php2.89 billion. FLI total land bank is currently at 2,356 hectares including leased land for development which the company expects to rollout in the next 5 to 10 years depending on absorption. FLI has built townships that can accommodate different land uses such as residential, commercial and industrial, as it aims to create fully integrated and self-sufficient communities. The company will continue to do so to maximize the use and value of its landbank. -
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Megaworld expects P2-B sales from Positano Mactan
Megaworld’s latest swank residential condominium property is Positano Mactan at The Mactan Newtown, in Lapu-Lapu City, Cebu. | photograph courtesy of Megaworld
By Maria Romero, 5 days ago
Property developer Megaworld Corp. led by businessman Andrew Tan, launched its sixth residential condominium project in The Mactan Newtown in Lapu-Lapu City, Cebu.
The company said Thursday it expects to raise around P2-billion in sales from the new project — dubbed Positano Mactan.
“We continue to see an overwhelming demand for living spaces here at The Mactan Newtown, which is why we have chosen to offer this concept to further highlight the island vibe and the exciting lifestyle that residents have come to love in this master-planned township,” said Megaworld Visayas first vice-president for sales, Jennifer Palmares-Fong.
Completion by 2028
Scheduled for completion by 2028, the 17-story Positano Mactan, offers 301 smart home units in varying types, ranging from Studio and Executive Studio to One Bedroom, Executive One Bedroom, Two Bedroom, and Three Bedroom condominium units.
Read more: https://tribune.net.ph/2023/03/24/megaworld-expects-p2-b-sales-from-positano-mactan/
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POSITANO: "MEGAWORLD TO BUILD ITALIAN-THEMED RESIDENTIAL PROJECT INSIDE THE MACTAN NEWTOWN"
The 17-storey Positano Mactan will be the sixth residential condominium development to rise inside the property giant's Lapu- Lapu City township with a beach Property giant Megaworld Corporation ("Megaworld") is launching its sixth residential condominium project inside the 30-hectare The Mactan Newtown in Lapu-Lapu City, Cebu. The 17-storey Positano Mactan will offer 301 'smart home' units in varying types with sizes ranging from Studio (up to 33 square meters), Executive Studio (41 square meters), One Bedroom (up to 51.5 square meters), Executive One Bedroom (up to 61 square meters), Two Bedroom (up to 78 square meters), and Three Bedroom (up to 141 square meters).
The project will also offer other unit types that will be seen for the first time at The Mactan Newtown. These include a One Bedroom Loft (up to 81.5 square meters), Two Bedroom Loft (136.5 square meters), Three Bedroom Bi-Level (up to 166 square meters), Three Bedroom Loft (189.5 square meters), and Three Bedroom Loft with Terrace (up to 264.5 square meters). All units will have their own cooktop burners, with two-bedroom and three-bedroom units having their own built-in ovens. Split-type air- conditioning units will come standard in both the living and dining areas across all units. Designed by acclaimed architectural and design firm Casas +Architects, Inc., the façade of Positano Mactan pays homage to the charming Italian resort town of Positano by mirroring an impression of the real place highlighted by earth tones, such as beige, warm white, light yellow, and terracotta red.
"This residential project is inspired by the elegance and beauty of the picturesque Italian seaside destination off the Amalfi Coast that carries the same name. We continue to see an overwhelming demand for living spaces here at The Mactan Newtown, which is why we have chosen to offer this concept to further highlight the island vibe and the exciting lifestyle that residents have come to love in this master- planned township," says Jennifer Palmares-Fong...
Mactan Newtown BEACH MALL
\mactan-newtown-township-cebu-city-map
> LINK: https://www.megaworldcorp.com/townships/mactan-newtown===
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MEG vs SHNG: 2.02 vs 2.71. Gap: 0.69, Ratio: 134.2%/ from 3/'20: 6/'22: 10d:
===: SHNG: MEG: Ratio: GAP: BV,S: BV,M: Ratio: dvS : dvM: Ratio
mar28 2.71 : 2.02: 134%: 0.69: 7.83e 6.24e 125.% .250: .062: 403%
Ye’22: 2.54: 2.00: 127.%: 0.54: 7.83e 6.24e 125.% . ??
Ye’21: 2.61 : 3.15 : 82.9% (0.54) 7.83: 6.24: 125.%: .124: .043: 288%
Ye’20: 2.71 : 4.08: 66.4% (1.37) 7.50: 5.81 : 129.%: .157: .037: 424%
Ye’19: 3.20 : 4.01: 79.9% (0.81) 7.35: 5.84 : 126.%: .180: .070: 257%
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Ratio to DD ( /6.80). from Mar'22: 10d: Psei- /6620 (1.03%), DDMPR- 1.38 (20.3%), MM- 1.22 (17.9%)
FE'22: 6.72: Psei- /6566 (1.02%), DDMPR- 1.29 (19.2%), MM- 1.21 (18.0%)
FE'21 : 7.26: Psei- /7123 (1.02%), DDMPR- 1.79 (24.7%), MM-2.51 (34.6%)
Sym.: Price: BkVl: PER : Yield: ’17BV: >’2021: nD/Eq.
ALI. : 28.50: 15.83 22.6: 1.00% 11.32 : +39.8%: 0.98
MEG P2.07 P6.24 4.85: 2.97% P4.38: +42.5%: 0.25DD. : 6.80: 17.31 3.11 : 3.42% P6.35: + 173.%: 1.09
ddmpr 1.38 P2.30 4.14 : 0.?? % =N/A : + 00.0% 0 debt
MM. : 1.21 P0.26 269.: 0.00% =N/A : + 00.0%: 0.89
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SHNG could rise to 3.50-3.60, to bring div. Yield down to about 7%
Sym.: Price: BkVl: PER : Yield: ’17BV: >’2021: nD/Eq.
ALI. : 28.50: 15.83 22.6: 1.00% 11.32 : +39.8%: 0.98
FLI. : P0.71: P3.62 6.57: 6.55% P2.61 : +38.7%: 0.74
MEG P2.07 P6.24 4.85: 2.97% P4.38: +42.5%: 0.25
ELI : P0.19: P1.85 3.42: 0.00% P1.72: + 7.6%: 0 debt
GERI: P0.89: P2.73 5.43: 0.00% P2.22: +23.0%: 0.14
VLL : P1.66 : P8.61 2.91: 1.78 % P6.41: +34.3%: 1.48
====
CDC : P0.75: P1.75 3.78: 2.96% P1.71 : + 2.3%: 0.03
LAND P0.80: P1.67 2.95: 3.77% P1.49 : +12.1%: 0 debt
ROCK: P1.38: P3.81 3.82: 3.89% P2.80: +36.1%: 1.06
SHNG P2.70: P7.83 4.66: 9.26% P6.40: +22.3%: 0.17
====The DATA for me really highlight the attractions of low-debt MEG, and low-debt, high div. SHNG.
SHNG vs. MEG, etc: update: MEG may follow SHNG higher, if div. & breakout fuels further rise.=
Price : = 2.70/ 2.07 = 130%
Bk.Val. = 7.83/ 6.24 = 125%. Earnings: .580/ .427= 136%. Dividend: .250/ .061 = 409%
In 2011, GERI changed its name to its present form and changed its focus towards the development of integrated tourism estates following the acquisition by Alliance Global Group of a majority stake in the company. The company was eventually consolidated under Megaworld in 2014.
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MEG and FLI, are at/near Decade Lows... while ALI holds up : 2.07 (7.26%), 0.71 (2.49%), /28.50
Add VLL / Vista Land: from 2016: 2018: last: 1.66 / 28.50= 5.82%
2008:
Sym.: Price: BkVl: PER : Yield: ’17BV: >’2021: nD/Eq.
ALI. : 28.50: 15.83 22.6: 1.00% 11.32 : +39.8%: 0.98
FLI. : P0.71: P3.62 6.57: 6.55% P2.61 : +38.7%: 0.74
MEG P2.07 P6.24 4.85: 2.97% P4.38: +42.5%: 0.25
ELI : P0.19: P1.85 3.42: 0.00% P1.72: + 7.6%: 0 debt
GERI: P0.89: P2.73 5.43: 0.00% P2.22: +23.0%: 0.14
VLL : P1.66 : P8.61 2.91: 1.78 % P6.41: +34.3%: 1.48
====
CDC : P0.75: P1.75 3.78: 2.96% P1.71 : + 2.3%: 0.03
LAND P0.80: P1.67 2.95: 3.77% P1.49 : +12.1%: 0 debt
ROCK: P1.38: P3.81 3.82: 3.89% P2.80: +36.1%: 1.06
SHNG P2.70: P7.83 4.66: 9.26% P6.40: +22.3%: 0.17
====The DATA for me really highlight the attractions of low-debt MEG, and low-debt, high div. SHNG.
SHNG vs. MEG, etc: update: 2.70 / 2.07 = 130%, MEG may follow SHNG higher, if breakout fuels rise.
In 2011, GERI changed its name to its present form and changed its focus towards the development of integrated tourism estates following the acquisition by Alliance Global Group of a majority stake in the company. The company was eventually consolidated under Megaworld in 2014.
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