Category: Real Estate

DMCI Homes gets BIR award for paying over P1B tax

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DMCI Homes is glad to receive the BIR award and become part of the agency’s Billionaires’ Club.

DMCI Homes was among 10 companies that received the 2013 Billionaires’ Club Award from the Bureau of Internal Revenue (BIR) for paying more than P1 billion in taxes last year.

DMCI Homes President Alfredo R. Austria and Senior Vice President for Finance and Operations Ramil Lombos received the award from Finance Secretary Cesar V. Purisima, BIR Commissioner Kim S. Jacinto-Henares and BIR Assistant Commissioner Alfredo V. Misajon during the launching ceremony of the BIR’s 2014 tax campaign for large taxpayers at the Solaire Resort in Parañaque City on Feb. 25, 2014.

In the event that also fetes the 2,120 companies in the BIR’s list of large taxpayers in the country, including DMCI Homes, Purisima and Henares thanked the top executives of the big corporations for helping the BIR in its tax collection effort.

DMCI Homes and other companies paid P755.23 billion in taxes last year through the BIR’s Large Taxpayer Service (LTS) department. The figure, which is 15.98 percent higher than the LTS’s tax collection in 2012, represents more than 60 percent of the BIR’s total 2013 tax collection target of P1.217 trillion.

Austria said DMCI Homes is glad to receive the BIR award and become part of the agency’s Billionaires’ Club.

“We’re also quite surprised that DMCI Homes, being a relatively younger company compared to the other real estate companies, was chosen as part of the Billionaires’ Club,” Austria said.

Lombos said DMCI Homes is a responsible developer and pays the right taxes.

“It is one of our ways of helping the government,” he said.

The premiere developer of innovative resort-themed residential condominium communities was the only real estate company among the awardees. Lombos said it was only last year that DMCI Homes’ tax payment reached P1 billion and the company was classified by the BIR as a large taxpayer.

During the BIR event, Purisima urged large taxpayers to continue supporting the LTS as this year’s tax collection target of the BIR is bigger at P1.456 trillion. Henares said it is the consistency of the tax payment to the LTS that basically allows the BIR to make sure that the government has that amount of money to spend for the basic services.

Austria said DMCI Homes fully supports the BIR’s 2014 tax collection campaign dubbed “I Love the Philippines, I Pay My Taxes Right, It’s as Easy As RFP (Register File Pay).”

“It is our hope that all companies in the Philippines pay the right taxes, especially those in the real estate and construction sector, so that we can all contribute to the progress of the country,” Austria said. “We also hope that these taxes be put to good use.”

SM Reaches Out to Investors in First Retail Roadshow

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SM Investments Corporation (SM) reached out to retail investors in maiden non-deal domestic roadshow held recently in Cebu, Davao and Manila.

The roadshow is an initiative of the company’s investor relations which runs in line with the company’s good governance practices by keeping investors and the markets informed and updated on developments within the SM Group. This is part and parcel of SM’s responsibility as a publicly-listed company.

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The roadshow also aims to encourage investors to share in the company’s growth through investments in the stock market by providing investors wealth-building advice and strategies.

SM partnered with local broker COL Financial for its maiden retail roadshow entitled “Wealth Building Summit for the Filipino Investor, SMart Money through the Stock Market”. Over 1,700 investors attended the event during its three-day run from March 25 to 27 held at the Radisson Blu Hotel in Cebu, SMX Convention Center in SM Lanang, Davao and SMX Convention Center in SM Aura, Taguig.

Speakers during the roadshow were also optimistic about the prospects of the Philippine economy which is a major factor in the growth of Philippine companies.

SM Chief Finance Officer Jose T. Sio told investors to study the company’s financial health. “In all these, look at the balance sheet and find a company that is healthy, liquid and that has a low gearing ratio. These are the companies that will grow regardless of the country’s economic cycles,” Sio said.

SM Senior Vice President for Investor Relations, Corazon P. Guidote told investors that the Philippine economy is at an “inflection point that offers much more growth opportunities across all sectors which will result in continued growth for the stock market. “We are excited as you are with all that the Philippines is experiencing. As such, we encourage you to invest in your country, and invest in your home-grown companies. Share in the dividends that you yourselves generate as a collective engine of growth for the companies that are listed on the Philippine stock market,” Guidote said.

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For his part, Joel Litman, Chief Investment Strategist at Valens Securities, Inc. also said he is bullish on the long-term prospects of the Philippine economy. “I am extremely bullish on the Philippine economy, in terms of employment or growth of jobs, the banking sector, growth of middle market, and the growth of consumers,” he said.

To take advantage of this growth, Guidote urged investors to participate in the upside of companies through stock investments. “Don’t just be our shopper or our customer. Be the owner of some of the worlds’ largest malls, or the leading bank in the country, or Southeast Asia’s largest property company, or the largest copper producer in the Philippines, or the country’s most progressive holding company,” she said.

Timothy Daniels, Consultant for Investor Relations at SM also reiterated that the Philippines is a fast growing market. “We have three core investments in retailing, banking and property and these are being positioned for where the Philippines is going. We may be a leading player today but the Philippines is a fast growing market and it is still developing, it has so much more potential in all of the areas, especially in the core businesses that we are in,” Daniels said.

“Within the last couple of years, BDO raised 1 billion dollars making it a tremendously strong bank. In retailing, with moves like our investments in CityMalls, we are going to retain our lead, and in property, the merger last year is to position all property entities of the group to really become be the leading players as the property industry continues to grow,” Daniels said.

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Guidote added that many foreign investors have profited from the stock market due to their long-term investment views saying that at the beginning of her career in the late 80′s there were just a handful of quality stocks listed in the market, while there were more speculative stocks. “But of the few quality stocks, foreign investors have already profited tremendously from the market because not only have they taken a long-term view of the market, they also had access to information that help them make good investment decisions. That’s because they deal with large institutional banks and stockbrokers which provide in-depth research and advice,” Guidote said.

Guidote added that SM’s share price for one, when it listed in 2005 was only the equivalent of less than P190. “Now it trades steadily at close to P700 per share, which over the 8 years (since I joined SM), yielded an average growth of about 35 percent per annum,” she said.

She said that more Filipinos should benefit from the growth of Philippine companies through their stock market investments. “Sadly, very few Filipinos benefited from that growth with volumes still dominated by large foreign funds. Our market capitalization is now US$12.5 billion. Of our free float of 42 percent, 36 percent is held by foreign funds. The same is true for SM Prime and BDO whose minority investors are mostly large foreign funds. This is why we are here today. It really is our fervent wish to have more Filipinos benefit from the growth of our companies,” Guidote said.

FC switches-off for this year’s Earth Hour

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Filinvest City joined the worldwide observance of Earth Hour. Scheduled last March 29 at exactly 8:30 in the evening, the premiere residential, business and leisure destination in the South, Filinvest City encouraged homeowners and guests to be part of this significant activity.

Aside from encouraging residents to switch off their lights at home several activities were lined up to make the Earth Hour observance fun and memorable.

Botanika Nature Residences hosted an outdoor party at the Sales Atrium located along Corporate and Commerce Avenues. Decked with candles and lanterns, the Sales Atrium lights were switched off at exactly 8:30 pm. Guests were asked to move to the garden for the unique celebration.

Botanika Nature Residences seriously adheres to the principles of green living by promoting a harmonious co-existence with nature. This unique development is a pilot project registered with the Philippine Green Building Council BERDE certification for sustainable residential buildings

Westgate celebrated Earth Hour by filling the air with the music of harpist Noelle Casandra. With a soothing repertoire of standards, pop, jazz and ballads listeners at the Westgate Cul-de-sac enjoyed the rare musical treat as they basked in cool evening air, under the stars.

Those who preferred to party trooped to the Deck bar of the Crimson Hotel. The groove was kept alive with the al fresco lounge offering an All-you drink promo.

SM Raises Governance Bar

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SM Investments Corporation (SM) has approved an expanded code of ethics, further strengthening its corporate governance standards to keep pace with emerging trends in the region.

The revised code is a more comprehensive guide on how the company should deal with stakeholders, from investors, creditors, customers and employees to contractors, regulators, suppliers and the general public.

Salient provisions added pertain to policies on accountability, integrity and vigilance and non-discriminatory practices as well as enhanced provisions pertaining to conflicts of interest and avoidance thereof. The expanded form aims to strengthen the company’s defenses against potential wrongdoing and to enhance confidentiality and privacy protections.

“The code is very specific about the mere appearance of conflict of interest. The core principle is to ensure that the underlying ethical culture runs across all core business units of the Group and that they are always aligned with best practice,” said Jose T. Sio, SM executive vice president and chief finance officer.

“The expanded code of ethics provides a broader framework to ensure we cover all areas of engagement with all our stakeholders,” Gil L. Gonzales, SM Vice President for Corporate Governance and Risk Management said.

However, the expanded code is not all about restrictions and consequences. A big part of the code is devoted to resolving governance-related issues in a fair, just and expeditious manner.

“After all, the ultimate goal of a code of ethics is to make things better for everyone concerned,” Sio said.

“We believe an ethical business environment makes good business sense,” he said. “We embed our code of ethics in everything we do, in the way we think, speak and execute things. It’s our way of fulfilling our responsibility to all who have been part of SM’s journey.”

Altaraza: Vibrant city living meets community charm

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Ayala Land Inc. (ALI) broke ground for Avida Settings, Amaia Steps, and its health care facility QualiMed, that are three of the property components in Altaraza, its 98-hectare mixed-use development in San Jose Del Monte (SJDM). Altaraza, the first masterplanned township in the area, is envisioned to provide a convenient, organized, and modern residential and commercial experience to a broad progressive market.

Avida Settings Altaraza, the first house and lot residential subdivision in Altaraza Town Center comes as a mark of growth in the city. Professionals and businessmen, families or couples starting a family, are all invited to move into an address where life turns for the best. It brings city conveniences close to its residents without losing the community charm. The project integrates nature into its development by preserving century-old trees and the site’s natural terrain. It features a 1.6-hectare Nature Park with a clubhouse, pool, basketball court and treehouse.

Amaia Steps Altaraza is the first condominium residential project in SJDM and offers amenities that may be considered new to first-time home-buyers especially among the second generation families in the city. It is strategically located along Quirino Avenue corner Tungkong Mangga and is highly accessible through various means of transportation such as buses, jeeps, and tricycles. Amaia Steps Altaraza is only five minutes away from the entrance of Altaraza Town Center.

The whole community will also be provided with a state-of-the-art, 100-bed health care facility and services through the QualiMed hospital.

In addition, a total of 50 commercial lots are also expected to boost business and economic activities while ensuring the development’s sustainable features through open spaces, with a planned 7,800sqm Central Plaza and a 5-hectare Rain Garden that will function as a detention pond, all amidst the beautiful mountain range of Sierra Madre.

The development will also offer a distinct quality of education with Colegio San Agustin constructing a 20-hectare campus offering primary to tertiary education, with a Church and a sports stadium.

With a total investment of P6.8 billion over five years, Ayala Land brings its unparalleled expertise in developing masterplanned communities to Altaraza. It aims to deliver an enriched quality of living not only to San Jose Del Monte but also to its surrounding communities.