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Belle,
SM Group in talks |
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on
Nayong Pilipino casino |
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By Honey
Madrilejos-Reyes |
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Reporter |
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BELLE
Corp., a listed real-estate developer, is in talks with
SM Investments Corp. (SMIC) to operate a casino in
Bagong Nayong Pilipino Manila Bay Integrated City
Project.
A person
familiar with the talks said that SMIC, a listed holding
firm led by the Sy group, plans to build a casino and
hotel complex on Bagong Nayong Pilipino.
“Belle
would like to manage the casino,” the source said, and
that more details on the tie-up will be made public once
the Philippine Gaming and Amusement Corp. (Pagcor)
issues the license in two weeks.
The Sy
group is a shareholder of Belle through property unit SM
Development Corp.
Earlier,
Belle reported a net income of P331.7 million in 2007
from P152.3 million a year earlier. Its net revenues
from operating sources amounted to P622.0 million, up
seven percent from P580.9 million in 2006.
Gross
sales value, or total contract price of sales and
reservations booked during the period, meanwhile,
reached P1.47 billion P683.6 million in the same
comparable period due to favorable reception of Belle’s
upscale residential project, Lakeside Fairways. |
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| OTHER STORIES |
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Belle,
SM Group in talks on Nayong Pilipino casino |
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BELLE Corp.,
a listed real-estate developer, is in talks with SM
Investments Corp. (SMIC) to operate a casino in Bagong
Nayong Pilipino Manila Bay Integrated City Project. |
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read more |
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SM units
topped market’s gainers and losers last week |
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THE week
ended April 11 belonged to the SM group of companies. Two of
its units dominated the market’s biggest gainers and worst
performers. |
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read more |
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ChemrezTech profit in 2007
jumps 409% |
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PUBLICLY
traded Chemrez Technologies Inc. (ChemrezTech) said its net
profit for 2007 jumped 409 percent to P480.6 million from
P94.4 million a year earlier. |
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read more |
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SMC
pares anew SMB’s IPO price |
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SAN Miguel
Corp. (SMC) pared anew the price range per share for its
brewery’s initial public offering (IPO) to P8 to P11 apiece
to attract investors in a falling market. |
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read more |
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RP
stocks complete 1.4% loss |
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THE
Philippine Stock Exchange index Friday declined 14.13, or
0.5 percent, to 2,940.98 at the close, rounding a
1.4-percent loss last week. |
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STOCK
MARKET OUTLOOK |
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LAST
week:
It was a slow week for the stock market with the PSE index
ending at 2,940.98 Friday, a loss of 42.06 points or 1.41
percent week-on-week. |
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read more |
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Not
Business as Usual: Koi hotel |
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The
country’s first koi or Japanese carp hotel is being
constructed in Hacienda San Benito in Lipa, Batangas. |
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read more |
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