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Emipire East Land Holdings, Inc.
#1
Business Profile:

Empire East Land Holdings, Inc. (the “Company”) was incorporated under Philippine law on 15 July 1994. Prior to its incorporation, the Company was a division of Megaworld Corporation (formerly, Megaworld Properties & Holdings, Inc.) and was then known as its Community Housing Division. In 1994, Megaworld Corporation decided to spin off its Community Housing Division into what is now the Company for the purpose of separating its high-end residential and office business from its lower and middle-income housing business.

As of December 31, 2010, the Company holds 100% equity interest in Eastwood Property Holdings, Inc. (EPHI); Valle Verde Properties, Inc. (“VVPI”); Sherman Oak Holdings, Inc. (“SOHI”) and Empire East Communities, Inc. (“EECI”); 73% in Laguna BelAir School, Inc. (LBAS); 80% in Suntrust Properties, Inc. (“SPI”) (formerly Empire East Properties, Inc.); 60% in Sonoma Premier Land, Inc. (“SPLI”) formerly, Galleria Corsini Holdings, Inc.; and 52% in Gilmore Property Marketing Associates, Inc. (“GPMAI”).

Source
: Annual Report 2010

RESULTS OF OPERATION

Review of March 31, 2011 versus March 31, 2010

During the three-month period, the consolidated net profit amounted to P25.17 million, 8% higher than the previous year’s net income of P23.26 million. Consolidated revenues, composed of real estate sales, interest income, commissions and other revenues and net earnings of associates posted an increase of 3%% from P549.74 million to P565.12 million.

Source: ELI Q1 2011 Financial Report


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#2
Consolidation of ELI as subsidiary beginning second quarter of 2011

Empire East Land Holdings, Inc. (“Empire East”), the middle-income real estate arm of Megaworld Corporation, will be consolidated as its subsidiary beginning the second quarter of this year. Pursuant to existing securities regulation, Megaworld which owns 50.0238% of Empire East, is required to consolidate Empire East as a subsidiary in its consolidated financial statements.

Source: http://www.pse.com.ph/html/disclosure/pd...79_MEG.pdf
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#3
Company to absorb sister firm

PROPERTY GIANT Megaworld Corp. will absorb sister firm Empire East Land Holdings, Inc. in its books starting in the second quarter.

The Megaworld group, which is composed of three brands -- Megaworld, Empire East Land and affordable housing unit Suntrust Properties, Inc. -- is set to launch P60 billion worth of projects or more than 18,000 residential units this year.

For its part, Empire East will be investing around P2.3 billion for the construction of 4,700 residential units.

http://www.bworld.com.ph/content.php?sec...s&id=32500
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#4
Go ELI Go! I know commander is going to be happy! Big Grin
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#5
Fighting mode as of now coz baby SUN is at stake. Tongue
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#6
Empire East sets 10 % hike in 2011 net income

Tuesday, 14 June 2011 19:02 Miguel R. Camus / Reporter

EMPIRE East Land Holdings Inc., a unit of builder Megaworld Corp., is projecting 2011 profit to grow by at least 35 percent on the back of stronger-than-expected sales, a top official said on Tuesday.

Following the company’s stockholders meeting, Empire East president Anthony Charlemagne Yu noted that reservation sales, a leading revenue indicator, are on track to grow by at least a quarter from P10 billion in 2010.

“So far [selling] has been very good [for] the past six months. We are hitting about P1 billion per month, considering the competition,” Yu told reporters on Tuesday.

“We think 35 percent to 40 percent [net income growth] is achievable. But we think we can do better than that,” he added. Empire East caters to the middle-income housing segment, with most projects situated within Metro Manila.

The builder is setting aside P2.3 billion in 2011 to launch new projects, based on a regulatory filing. The budget forms part of a P12-billion five-year spending program, Yu said.

Meanwhile, Yu said Empire East remains interested in the 103-hectare Food Terminal Inc. (FTI) property in Taguig even if the government decides to forego the planned sale and instead opt to lease out the complex.

Empire East in February made a P14-billion offer to the Department of Finance, which is spearheading FTI’s privatization effort, amid a resurgence of interest in the property.

Other developers that have signified an interest to buy FTI are Robinsons Land Corp., Filinvest Land Inc. and Ayala Land Inc.

The new administration led by President Aquino, said it remains undecided on whether to sell the property or enter into long-term leasing contracts with interested parties.

“Right now, we are waiting for a response from the government,” Yu said. “If [FTI] were to be leased, we will consider it.”

Empire East plans to develop the property mainly into residential communities.

Yu said the company is also open to a tieup with Megaworld, which already won the government auction to develop the nearby 34.5-hectare Jusmag property and an 8.34-hectare portion of North Bonifacio.

Empire East reported that first-quarter revenues rose by 2.8 percent to P565.12 million, while net income increased by 4.17 percent to P23.43 million.

Shares of the company added 2.78 percent to P0.74 each on Tuesday’s trading.

http://www.businessmirror.com.ph/home/co...net-income






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#7
isa to sa favorite stocks ni master ollie Rolleyes
loaded na loaded si master O dito Cool
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#8
...here we go Big Grin
NO TRADING TUESDAY AUGUST 21, 2018
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#9
Megaworld acquired ELI shares based on changes on Statement of Changes in Beneficial Ownership:

Shares:

May 5, 2011: 128,101,000 @ 0.69/share
May 6, 2011: 2,058,000 @ 0.69/share
May 9, 2011: 2,100,000 @ 0.69/share
May 11, 2011: 27,600,000 @ 0.74/share

http://www.pse.com.ph/html/ListedCompani...022011.pdf

via Broker 167 - Aurora Securities?
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#10
For the first five months, Megaworld, including units Empire East Land Holdings and Suntrust Home Developers, sold real estate projects worth P17 billion.

http://www.malaya.com.ph/june20/busi6.html
The government remains keen on selling the Food Terminal Inc. (FTI) property in Taguig within the year.

The government remains keen on selling the Food Terminal Inc. (FTI) property in Taguig within the year.

John Philip Sevilla, Finance undersecretary for privatization and the Corporate Affairs Group, told reporters the Aquino administration was looking at an “outright sale.”

“The P13-billion floor price remains the same as of this time,” Sevilla said.

The Arroyo administration tried to sell the property, too, at the same price but there were no bidders.

There are reports that big property developers Ayala Land Inc., SM Group, Robinsons Land Corp., Megaworld Corp. and Filinvest Land Inc. have all “formally” expressed interest in the property but nothing concrete has been made so far.

Sevilla clarified that FTI’s privatization plan has not been put on hold, contrary to reports, but was just delayed since the Aquino administration has been preoccupied with its Public-Private Partnership Program.

The Aquino administration said it was privatizing FTI to boost the country’s economic activity.

“In terms of raising revenues, the privatization of FTI is not urgent, but in terms of boosting the economy, yes, it is important that it is privatized this year. About 75 percent of the property is currently idle…somebody else could be investing there,” Sevilla said.

http://www.businessmirror.com.ph/home/to...-land-sale

Just want to add this because it is actually ELI who did the bidding and ELI is part of Megaworld.

Empire East submits P14-B bid for FTI

By JAMES A. LOYOLA
February 7, 2011, 7:56pm

MANILA, Philippines – Empire East Land Holdings, Inc., a subsidiary of Megaworld Corporation, has submitted an offer to the Department of Finance to acquire the state-owned Food Terminal, Inc. (FTI) property in the Taguig Area for P14 billion.

http://www.mb.com.ph/articles/303068/emp...4b-bid-fti
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