Reporter

PUBLICLY traded Pacific Online System Corp. (POSC) and Diversified Financial Network Inc. are forming a joint venture to provide technical-service solutions to domestic and foreign businesses.

Willy Ocier, chairman and president of Pacific Online, also known as POSC, told BusinessMirror the partners will eventually subscribe to shares of the new company on a 50-50 equity-sharing scheme.

POSC is the nation’s lone online lottery-system provider in Visayas and Mindanao in partnership with the state-run Philippine Charity Sweepstakes Office.

Diversified Financial, also known as DFFN, is a leading information technology-solutions provider and systems integrator.

Earlier, POSC reported a 177-percent jump in net profit from January to September to P115.8 million from P41.8 million a year earlier.

The growth was due to improved revenues for the period amounting to P343 million versus P301 million a ear earlier.

“The company handled P1.24 billion in lotto sales in the third quarter. And for the third quarter alone, our revenues hit a record of P124 million,” Ocier said in an earlier interview.

For the nine-month period, Ocier said the company has installed 400 terminals, bringing the total number of terminals to date to 1,354. At least 100 more will be installed towards the end of the year.

POSC is also growing the business of newly acquired subsidiary Lucky Circle Corp. (LCC), the exclusive lotto operator in SM Supermalls nationwide. LCC operates 42 lotto outlets in major malls all over the country and plans to have 100 locations by next year.

DFNN, meanwhile, is planning to raise $5 million from the sale of additional new and secondary shares next year.

In a previous interview, chairman Ramon Garcia Jr. said the proceeds will fund the expansion of its BPO service, as well as gaming software and other service offerings.

Garcia is particularly bullish on the operations of subsidiary Pacific Gaming Investments Pte. Ltd., an investment company which provides operating, technology, consulting as well as investments to Tier 2 sized gaming companies in Asian markets.

Its markets include Japan and other countries in the region.

The DFNN Group generates revenue through BPO solutions, customized, tailor-fit IT solutions to retail financial institutions, rental revenue, wireless and other IT products, and online gaming products and services.

CALL them the crème de la crème of Philippine Web design.

They took center stage as the best works of local web site designers were honored in glitzy and glamorous rites during the 10th Philippine Web Awards (PWA), which techies refer to as “the Webbys.” It was Friday night at the Teatrino Bar and Restaurant, Promenade, Greenhills Commercial Complex, San Juan City.

New tech services firm takes shape

PUBLICLY traded Pacific Online System Corp. (POSC) and Diversified Financial Network Inc. are forming a joint venture to provide technical-service solutions to domestic and foreign businesses.

ORACLE Philippines recently launched the Oracle Global Development and Delivery Center in the country.

Francis Ong, managing director of Oracle Philippines, said the center is a milestone for Oracle’s Philippine unit and will benefit the country in terms of technology development. “Oracle has invested in a dedicated business unit based at this center that will develop cutting-edge solutions for the utilities industry and the public sector in the Philippines and also globally. This center will contribute to the efforts of the global product development teams,” Ong said in a statement.

COMPANIES have so far raised P88.43 billion from initial and additional offerings, surpassing last year’s record of P57.2 billion, the Philippine Stock Exchange (PSE) reported over the weekend.

A MOVIE production company was the biggest surprise of the week ending November 23 when it continued rising and closed at P1.04.

The performance of Premiere Entertainment Productions Inc. may puzzle the public investors because the company reported a net loss of P2,009,508 in the first nine months of 2007 and a deficit of P395,304,695.

Newly listed Splash Corp. is signing this week a property joint venture with Vista Land, which is majority owned by the family of Senate President Manuel Villar. The property is located near Asian Development Bank in Ortigas Commecial Center.