SM wants another mall

Sun.Star Cebu <> Monday, July 6, 2009

BY NANCY R. CUDIS, Sun.Star Staff Reporter

A SECOND SM mall for Cebu by 2011.

SM Prime Holdings Inc. (SMPHI) president Hans Sy made the disclosure, adding that the company is in the middle of negotiations for the possible acquisition of three separate properties in Cebu where the company plans to build one more mall.

“I should say (there will be) good news toward the third quarter (this year). By then, we should be closing some deals, although (we) cannot promise you that we will be able to acquire all three properties,” Sy told a press conference Friday.

At first, he declined to reveal the location of the three properties, but he admitted later that one of the sites is the South Road Properties (SRP), the 300-hectare reclamation project of the Cebu City Government.

“It would be very ideal to close all three. I wish I could take all three. If I can, I would. Hopefully, it would include the SRP. That is how bullish we are with Cebu. We already acquired a new site in Davao and General Santos, so why not (also) look at Cebu when it is among the best in the Visayas and Mindanao,” Sy said.

2011 opening

Once it closes a deal, SMPHI will immediately start construction and open a new mall “within 18 to 30 months.”

If it closes all three deals, SMPHI will simultaneously build three SM mall branches and open them by 2011.

For each development, SMPHI will implement a “formula” of starting on an area of 80,000 to 85,000 square meters before upgrading it into a mall occupying 200,000 square meters—about the same size as SM City Cebu.

“Definitely, we have to have at least a second mall in Cebu.

The locations we have identified are very ideal and have the (potential) for expansion,” Sy said.

He believes that Cebu is ready for more malls, saying there is enough market despite the global financial crisis.

In 2007, Sy disclosed plans of building two future malls in Cebu—each expected to cost P1 billion—once SMPHI has found land for the projects and after the completion of the SM City Cebu Northwing.

Offer

In October last year, the Cebu Investment Promotions Center, the marketing arm of the SRP, disclosed that SMPHI made an offer to buy a 20-hectare parcel of land at SRP for a mixed-use development project.

Meanwhile, SMPHI will open this year a supercenter in Las Piñas and a shopping center in Cavite, bringing the total number of SM malls nationwide to 36.

Next year, the company targets to open four malls, all in Luzon. Construction of SM malls in Davao and General Santos is underway. The malls are expected to be completed by 2011.

SMPHI also has three malls in China—Chengdu, Jinjiang and Xiamen—and will be putting up the fourth in Suzhou, China next year.

“Our main focus is still the Philippines. There is still room for growth here. China is our growth story five years from now.

We are, little by little, building our brand name there,” said Sy who attended the inauguration of China Bank Cebu Business Center last Friday.

With so much competition in China, he said SMPHI’s strategy is to enter into third-tiered cities where most of the residents are not familiar with shopping malls.

Sy also disclosed that SMPHI has brought the equipment that will introduce Imax (Image Maximum) cinema technology in Cebu.

The company is renovating Cinema 4 at SM City to house the equipment.

When asked for updates on the planned convention center of SM Investment Corp. (SMIC), Sy said the company is still focused on finishing the Radisson Hotel—an SMIC property that will be managed by international hotel management chain Radisson—located beside SM City Cebu mall at the North Reclamation Area, Cebu City. The hotel will soft-open in November this year.

SMIC, he said, is still studying ways to come up with enough parking slots for the three-story convention center that is planned to rise on an 8,000-square meter area next to Radisson Hotel and SM City Cebu mall.

Filed under: Business, Construction/Building, Employment, Fun/Entertainment, Retail

SkyCable launches high-speed Net packages

Sun.Star Cebu <> Wednesday, Oct. 7, 2009

BY NANCY R. CUDIS, Sun.Star Staff Reporter

IN response to the clamor for faster Internet access, the Cebu unit of a national cable company launched last week high download speed packages of up to 12 megabytes per second (mbps) in Cebu.

The Lopez-owned SkyCable Corp. already tested SkyBroadband plans in Manila last year and went full blast last January.

Last Oct. 1, SkyCable Cebu began offering these packages to its cable subscribers in the province and received “encouraging” feedback, said SkyCable area director for the Visayas Ronnie Pacio in an interview with Sun.Star Cebu.

Instead of using phone lines, SkyBroadband uses SkyCable infrastructure to connect to the Internet. Cable lines can carry more data and offer higher bandwidth.

SkyBroadband packages include Plan 1.5 mbps (with monthly subscription fee of P1,199), Plan 3 mbps (P2,499), Plan 6 mbps (P4,999), and Plan 12 mbps (P6,999).

Pacio said that their highest plan is four times faster than any residential DSL (digital subscriber line).

The total initial payment for Plan 1.5 mbps and Plan 3 mbps is P2,199 and P3,499, respectively, due to the P1,000 cable modem deposit upon installation. Cable modem is free under Plans 6 mbps and 12 mbps.

All plans are covered by a one-year lock-in period.

Installation for all packages is free.

Users of SkyBroadband Plan 1.5 mbps and Plan 3 mbps will also get P175 discount on their P675 monthly SkyCable subscription fee. The two higher speed packages are product bundles that include both Internet access and free SkyCable subscription.

All SkyBroadband packages-considered as SkyCable’s value-added service-are exclusive to its cable subscribers in selected Cebu areas in Banawa, Banilad, Cabancalan, Cebu Business Park, Consolacion, Capitol Site, Guadalupe, Labangon, Lapu-Lapu City, Mabolo, Ma. Luisa Estate Park, Mandaue City, P. Del Rosario in Cebu City, and Talamban.

“The highest speed of DSL plans being offered by other broadband providers is only 3 mbps. SkyBroadband packages ensure faster connections and less time consumption. Users can do many things on the Internet in one (sitting),” said Pacio.

He added that they already have nearly 1,000 SkyBroadband subscribers who are coming from the middle- and high-income brackets.

Pacio said that when the company has enough funding, they will expand to more areas until they can cover the entire Cebu.

Since March 2008 when SkyCable Cebu offered its first cable Internet called ZPDee, the company has allocated around P30 million to upgrade its plant for its broadband project.

Pacio said that one-third of this P30 million is not yet spent since they are still waiting for equipment from Manila to further upgrade its plant’s capacity and be able to cover more areas in Cebu.

After SkyBroadband is established in Cebu, SkyCable Cebu is planning to bring the digital signal to the province next year as part of its strategy to shift its technology from analog to digital and offer affordable packages to more price-sensitive markets. NRC

Filed under: Business, Education, Fun/Entertainment, IT/Computers/Software Development, Small and Medium Enterprises, broadband, Internet, SkyBroadband, SkyCable

Telco raises capex for ’09

Sun.Star Cebu <> Thursday, June 11, 2009

BY NANCY R. CUDIS, Sun.Star Staff Reporter

AMID the global financial crisis, the country’s biggest telecommunications service provider is “pragmatically optimistic” about its prospects this year.

As an indication of its optimism, the Philippine Long Distance Telephone Co. (PLDT) is planning a capital expenditures (capex) level of P27 billion this year, which is P1.8 billion more than that of 2008.

PLDT chairman Manuel V. Pangilinan said the amount will be used for the deployment of network and information technology infrastructure to support “new generation, media-rich broadband services.”

PLDT president and chief executive officer Napoleon Nazareno said that the telco’s 2008 capex level also reflected the company’s confidence in the country, which is sustained this year.

“We are looking beyond the near-term uncertainty and positioning for the long-term when the global situation stabilizes,” Nazareno said during the PLDT’s annual stockholders meeting last Tuesday.

In his message to shareholders, Pangilinan said this year’s capex includes the replacement of the nationwide cable network with high-speed data-grade facilities, which will be capable of delivering voice, video and data services more efficiently when combined with the new generation all-Internet protocol switches.

Infra work

“Our capex budget will also support the further deployment of Smart’s high-speed packet access network that will make mobile broadband more pervasive,” he said.

Last year, 66 percent of the P25.2 billion capex was spent for the PLDT group’s wireless business, 31 percent for fixed line, and three percent for the information and communications technology (ICT) business.

PLDT reported an eight-percent increase in its core net income to P38.1 billion in 2008. This surpassed the company’s growth expectation of five percent or P37 billion for the same year.

Nazareno said this growth is driven by the five-percent increase in consolidated service revenues, a six-percent rise in
earnings before interest, taxes, depreciation and amortization (EBITDA) and a 14-percent decrease in financing costs.

Pangilinan said core net income increase was also made possible by “continued growth of the company’s wireless business, the steady performance of fixed line operations, and the robust growth of broadband, both on the wireline and wireless platforms.”

Navarro said that PLDT delivered “another solid performance” in 2008 despite difficult economic conditions brought about by the global economic turmoil.

Strategy

To ride out the economic storm in 2008, Pangilinan said the company implemented a four-pronged strategy to optimize its existing voice and text-based businesses, build its data and broadband operations, and sustain investments in information
technology-based network infrastructure while keeping cash operating expenses under check.

“The solid performance of PLDT in 2008 and the increasing bias in consumer spending preferences towards our products and services provide some cheer to our prospects this year.

Accordingly, we have given our core profit guidance to lie north of P40 billion for 2009,” Pangilinan said in a speech during the stockholders’ meeting.

This year, Nazareno said PLDT will continue to contain costs, raise efficiencies, and optimize revenues and profits as it continues to invest in the future “to ensure that the country has the communications infrastructure and services it requires to recover from this crisis.”

In 2008, PLDT’s service revenues and EBITDA grew five percent to P142.9 billion and six percent to P87.6 billion, respectively.

“We did not, however, escape completely unharmed from the effects of the crisis. Reported net income, after reflecting exceptional losses netted off against exceptional gains, decreased by four percent to P34.6 billion,” Pangilinan said.

He attributed this to asset impairments in the information and communication technology business and a net foreign exchange loss due to large fluctuations in the peso-dollar exchange and interest rates.

PLDT’s free cash flow remained “strong” at P47.9 billion. Its debt position is also considered “extremely sound,” ending 2008 with a net debt of approximately P800 million.

“Our healthy financial position has enabled us to declare 100 percent dividend payout of core earnings for the second consecutive year.

Filed under: Business, Fun/Entertainment, IT/Computers/Software Development

SM Cebu launches free Wi-Fi as added customer service

-By Nancy R. Cudis

SM City Cebu is giving its shoppers more reasons to regularly visit the mall. Apart from the ample convenient parking spaces and a wide range of tenants, SM City Cebu is now equipped with wireless fidelity (Wi-Fi) connection that the management is giving to visitors and shoppers for free.

Very exciting, really, since this added customer service would allow those with Wi-Fi capable devices to conveniently access the Internet wherever they are within the mall’s premises, including the carpark.

Last week, the mall’s management launched the free Wi-Fi, simultaneously with the SM malls in Iloilo and Bacolod. This brings, as of July 31, 2009, a total of 13 SM malls nationwide with free Wi-Fi since it was first installed in SM Marikina last February. The aim of SM management is to have all the 36 SM malls in the Philippines offering free Wi-Fi service by October this year.

The unveiling of the new service in SM City Cebu was covered by various media outlets, including the Cebu Bloggers Society whose two members (Sinjin Pineda and Jose Farrugia) won contest prizes (Congratulations, guys!). The launching featured initial availability of the free Wi-Fi connection at SM City Cebu Northwing Atrium and Cyberzone. Last Tuesday, the entire mall is already covered by this new service.

You might wonder, though, the ability of the connection to accommodate a huge volume of foot traffic coming to SM City Cebu. A management-issued assurance was given: the free Wi-fi, which is provided for by Internet service provider Philippine Global Communications Inc. (PhilCom), has a bandwidth capacity of 8 mbps. This means that the service could accommodate 200 users simultaneously or approximately 1,000 users per day.

Since not all have Wi-Fi capable mobile phones and laptops (not yet, I mean) and since the average 100,000 to more than 200,000 daily foot traffic of SM City Cebu does not come all at the same time in a day, the connection would still be enough for one to access the Internet while on the go. At the same time, Internet cafe tenants like Netopia would still have the ability to accommodate shoppers who are more into gaming and who lack Wi-fi capable devices.

It’s a pretty neat set-up, especially when the free Wi-Fi in itself would attract shoppers, give them added convenience to access their Facebook counts (hehehe), increase foot traffic, grow the market for mall tenants, and potentially increase revenues for both the mall and the tenants. No matter how you turn the tables, everyone benefits.

Besides, Wi-Fi is not the only thing. SM City Cebu will open a 500-seater IMAX Theater in the fourth quarter this year. This, for sure, would be another mall project worth looking forward to.

Personally, I am curious to find out the views of SM City Cebu’s direct competitors about these new and upcoming services…. But I guess this would be another plan for another day.

Filed under: Business, Fun/Entertainment, IT/Computers/Software Development

SM allots P25M to give bowling center facelift

Sun.Star Cebu <> Wednesday, June 3, 2009

BY NANCY R. CUDIS, Sun.Star Staff Reporter

SM Bowling Centre Cebu has been given a fresh look to attract families, young professionals and their friends and even tourists.

Last week, SM City Cebu launched the renovated bowling facility that boasts of 28 state-of-the-art lanes, LCD monitors for score recording, “chic and urban” lounge seats, and six billiard tables, among others.

“We want to bring bowling back to its glorious days. We aim to attract yuppies, parents and children to play together and cheer each other,” said bowling center manager Moenil Lapa.

He said the renovation of the facility was estimated to be more than P25 million.

The renovation, which was done in three phases, started in October last year. Even during the renovation, Lapa said the bowling center continued to receive a “good number of customers” and revenues have been “improving.” He did not give figures, however.

He said that among the bowling center’s top foreign customers Kuwaitis and Koreans.

Ric Camaligan, vice president for SM leisure group, said that the bowling center has been established for almost 18 years.

“This is now renovated to (support) our (desire) to come closer to the people. We want to be a place for the family, for more bonding time and a (venue) to keep (our) bodies healthy,” he said.

The SM Bowling Centre Cebu also provides bumper lanes that block off gutters, ensuring children the chance at knocking down pins at every single release. According to the SM management, this bumper bowling system builds up a child’s confidence and guarantees enjoyment.

The center will also house a bigger snack bar, locker rooms, and smoking area.

Located at the third level of SM City Cebu, the facility is open from 12 noon to 11 p.m. from Monday to Friday, and from 10 am to 11 p.m. on holidays and weekends.

Filed under: Business, Fun/Entertainment, Health and Wellness, Tourism

Auto dealer, school ink training program for students, teachers

Sun.Star Cebu <> Tuesday, June 2, 2009

BY NANCY R. CUDIS, Sun.Star Staff Reporter

MITSUBISHI Motors Philippines Corp. and its authorized dealer Fast Autoworld Philippines Corp. designed a program to enhance and upgrade the theories, skills and competencies of automotive instructors at the Cebu State College of Science and Technology (CSCST).

Under the program called Industry Immersion of Automotive Technology Instructors of CSCST, the college will send automotive technology instructors as faculty-trainees and its graduating students as on-the-job trainees (OJTs) in Mitsubishi’s facilities.

Mitsubishi Motors Philippines will provide venue and training to faculty-trainees on various competencies, including automotive electricity and electronics, electronic-controlled fuel inject, engine overhauling and performance testing, automatic transmission, and powertrain, among others.

At the same time, Fast Autoworld will help CSCST improve its training center.

The three institutions signed an agreement last week at Fast Autoworld Philippines Cebu office and showroom in Mandaue City.

Upgrade

“There is a need to upgrade their knowledge now that we are using high-tech automotive technology, such as laptops or computers in troubleshooting (cars),” said Matronillo Zamora, Fast Autoworld general manager for parts and service.

The program will accommodate a total of 12 trainees—members of CSCST faculty and OJTs—every year.

Every course for the faculty-trainees will run for a week while OJTs will undergo training for 10 months or an equivalent of 1,800 hours.

“This is a good (length of time) because the students will become skilled (technicians). At the same time, we are grooming them to become service advisers,” said Fast Autoworld human resource manager Flordeliza Tangpus.

She said the company is keen on getting OJTs from among students of four-year Industrial Technology course with emphasis on automotive technology.

“CSCST is not necessarily exclusive to Mitsubishi since they also provide OJTs to other car manufacturers. But we want to be given priority and their top students,” she said.

Student-trainees who perform well are guaranteed to find work at Mitsubishi Motors Philipines after they complete their studies.

Fast Autoworld Philippines Corp. will also give out a Mitsubishi Excellence Award to deserving outstanding automotive graduates.

Possible career path for these OJTs, said Zamora, is from technician to lead man to service adviser and, eventually, to service manager.

He lamented, however, that many skilled automotive technicians prefer to work in Australia, Singapore or Canada.

Filed under: Business, Education, Fun/Entertainment, IT/Computers/Software Development

New Montero catches ladies’ eyes

Sun.Star Cebu <> Monday, June 1, 2009

BY NANCY R. CUDIS, Sun.Star Staff Reporter

THE latest version of the Mitsubishi Montero Sport has attracted many SUV (sport utility vehicle) owners and women drivers.

In Cebu, more than 100 units of the seven-seater Montero Sport 4×2 have been sold in the past two months.

With this, Fast Autoworld Philippines Corp.—authorized dealer of Mitsubishi vehicles—hopes to sell 100 units of the new Mitsubishi variant every month.

The Montero Sport 4×2, which is equipped with a 2.5-liter engine, is slightly smaller than its predecessor, Montero Sport 3.2L. The Montero Sport 3.2L was introduced in September last year.

Arthur James Untal, Fast Autoworld sales and marketing manager for vehicles sales business unit, said that while the new variant is smaller, Mitsubishi did not compromise its power, performance, steering and transmission.

The new model is priced P1.3 million.

“The Montero Sport 4×2 is designed with the amenities of a full-size SUV.

The price alone for this unit is already an advantage in a price-conscious market. It also has high-breed suspension that is a combination of a high-end Mitsubishi Pajero 4×4 and Strada,” Untal told Sun.Star Cebu.

The unit’s front suspension consists of a double wishbone coil springs with stabilizer bar. Its rear suspension consists of a three-link coil springs with stabilizer bar.

Untal said this is one comfort feature that allows drivers to experience convenient and smooth trips even on rough roads.

He added that diesel-powered Montero Sport 4×2 also has a common rail direct injection for its fuel system that maximizes the power of the vehicle and promotes further fuel efficiency.

Untal said the new model is positioned as a second car, especially for drivers who understand and enjoy the amenities of an SUV. It is also targeted at lady drivers and overseas Filipino workers.

Along with its 2.5-liter DOHC 16-valve turbocharged and intercooled DI-D engine, the Montero Sport 4×2 is also equipped with automatic transmission, dual SRS airbags, water-repellant fabric seats and vacuum brake booster, among others.

Untal said that Mitsu-bishi Motors Philippines recorded the highest sales of Montero Sport 4×2 worldwide in April.

He also said the Montero Sport 4×4 with manual transmission will be brought to Cebu in the middle of this year.

Filed under: Business, Fun/Entertainment