CERAMIC tile maker Mariwasa Manufacturing Inc. is setting its sights on new markets abroad to improve profitability, which the company committed under a debt restructuring deal with the International Finance Corp. (IFC).

Mariwasa, in implementing its revised strategy, will be tapping markets such as Guam, Indonesia, Japan, Saipan, Singapore, South Africa and Thailand.

Mariwasa is coming fresh from negotiations with the IFC and other creditors for restructuring its obligations.

The deal includes forming a new shareholder and management structure, as well as focused marketing strategies.

The IFC, the private sector investment unit of the World Bank Group, said the restructuring arrangement signifies its commitment to help the Philippine tile industry.

Mariwasa, it noted, is an important player in the industry since it is the largest ceramic tile maker in the Philippines.

IFC invested $14.5 million in Mariwasa in 1999.

The time maker defaulted on loan payments in 2003 amid increased competition, slowing demand, spiraling electricity costs and loss of market share to imported ceramic tiles.

“The Philippine tile industry is still domestically oriented. With cheaper imports and better availability of alternatives to ceramic tiles, there is a need for more strategic choices in terms of management and markets,” IFC acting country manager Jesse Ang said.

“With IFC’s renewed support, we hope to enhance Mariwasa’s efficiency and its ability to find niche markets. This will also contribute to the sector’s competitiveness,” he added.

In response to this, Surasak Kraiwitchaicharoen, president of Mariwasa Siam Ceramics, pledged to focus more energy on improving the company’s profitability and  financial stability by growing the business in the domestic market, as well as overseas.

CERAMIC tile maker Mariwasa Manufacturing Inc. is setting its sights on new markets abroad to improve profitability, which the company committed under a debt restructuring deal with the International Finance Corp. (IFC).

IS, MIC: A tale of two stocks disgorging gains

ISLAND Information and Technology Inc. (IS) and Multitech Investments Corp. (MIC) have something in common that would not qualify them for inclusion in the portfolio of long-term investors who are in the stock market for dividends, either in cash or in stocks.

CEBU Holdings Inc., a listed real-estate developer and affiliate of property giant Ayala Land Inc., ended the first half with a 36-percent rise in net profit to P155.1 million from P114.3 million a year earlier.

Philippine stocks fell Friday, with the benchmark index completing its worst weekly loss since August 1998, on concern mortgage losses in the US will prompt hedge funds to sell emerging-market assets. Ayala Corp. and Ayala Land Inc. led the decline.

At the height of typhoon “Egay” last Thursday, Microsoft Corp. lost its Philippine managing director TJ Javier.

Now, the official line during the all-employees’ meeting was Javier wanted to move on to better opportunities. Interestingly, an employee, who wanted to know the “real reason” why Javier was leaving, was also asked to leave that same day.