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Prime Orion Philippines, Inc.
...hindi pa ako nakapasyal dito ever, lalo pa sigurong gaganda ito now that Ayala is at the helm

New POPI chief focuses on Tutuban Center upgrade

THE HEAD of the Ayala Malls Group has been elected as the new president and chief executive officer of Prime Orion Philippines, Inc. (POPI), the owner and developer of Tutuban Center in Divisoria.

In a disclosure to the stock exchange on Tuesday, POPI said Maria Rowena M. Tomeldan has been elected to the company’s top post, replacing Jose Emmanuel H. Jalandoni. POPI cited “organizational movement” as reason for Mr. Jalandoni’s cessation from the position.

“The focus of the company is still improving Tutuban Center. We’re still at this point wherein we’re improving operations… On the existing buildings, improving amenities, bringing in new features, that’s the main focus. It’s operating the (Tutuban) Center better,” Ms. Tomeldan told BusinessWorld in a phone interview when asked about plans for POPI.

Ayala Land, Inc. (ALI) currently has a 55.2% stake in POPI. The property giant’s investments in POPI has allowed the company to redevelop the Tutuban Center in Divisoria Tutuban Complex, which has a gross leasable area of 60,000 square meters sitting on a 20-hectare property. POPI earlier said that it plans to double its leasable area and convert the property into a mixed-use development.

“There’s been a marked improvement in Tutuban in what they have to offer to customers, you’ll see that in terms of security, facilities, there’s a marked improvement, and we will continue to do that,” Ms. Tomeldan said.

Asked whether the company will convert the retail space similar to what it is doing in Ayala Malls, Ms. Tomeldan answered in the negative, noting that the focus will be on improving the center’s existing features.

“We operate as a wholesale and retail center, given its very strategic location,” the POPI executive said.

POPI swung to profitability in the first nine months of 2017, recording a net income attributable to the parent of P91.6 million, against an attributable loss of P394.3 million in the same period a year ago. The company’s revenues, meanwhile, dropped 32% during the same period to P452 million.


source: http://bworldonline.com/new-popi-chief-f...r-upgrade/
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(02-24-2018, 12:07 AM)php.ph Wrote: PHP Stocks Investment Portfolio - 18W08
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3-23

Ayala Land boosts stake in Prime Orion, positions it as industrial estate arm

The P3 billion share swap deal will increase Ayala Land’s stake in Prime Orion to 63.90% from 54.91%. It will also fold Laguna Technopark Incorporated into Prime Orion.

MANILA, Philippines — Ayala Land Incorporated (ALI) folded its stake in Laguna Technopark Incorporated (LTI) into Prime Orion Philippines Incorporated (POPI), in a move that boosts its stake in the firm while positioning it as its logistics and industrial estate developer arm.

ALI said that its “executive committee has approved the exchange of ALI’s 75% equity interest in LTI "into additional shares of stock in POPI” In a disclosure to the stock exchange on Friday, March 23.

The property developer said the value of the transaction is P3.0 billion where POPI will issue 1,225,370,620 common shares to ALI in exchange for 30,186 LTI common shares.The deal will also see ALI boost its direct ownership in POPI to 63.90% from 54.91%.

POPI is a listed real estate holding firm which owns the Tutuban Center in Divisoria. ALI acquired majority control of the firm in a deal finalized in 2016 that also paved the way for the expansion of the Tutuban retail complex.

LTI, run by ALI in partnership with Japan’s Mitsubishi Corporation, developed and owns the Laguna technopark Industrial estate which spans 460 hectares across Sta Rosa and Binan in Laguna and caters to light and medium local and global enterprises.

The firm also controls Cavite Technopark – a similar 118 hectare industrial estate located in Naic, Cavite and launched in 2015.

“Combining LTI and POPI will create a bigger entity that will pursue real estate logistics and industrial development and reposition POPI to be a leading real estate logistics and industrial estate developer and operator in the Philippines,” ALI said.


source: https://www.rappler.com/business/198811-...share-swap
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