Thursday, October 21, 2010

SM City Novaliches Opens to Public!

SM City Novaliches opened to the public on Friday, 22 October 2010. The new 60,334 sqm mall Located along Quirino Highway in Barangay San Bartolome, Novaliches, Quezon City.

It is SM Prime Holdings, Inc.'s 40th mall in the Philippines, its third mall in the
city, after SM City Fairview and SM City North Edsa. The new mall is estimated to have provided up to 4,000 new jobs.

SM Prime President Mr. Hans T. Sy said, “We warmly welcome all our valued customers to our newest and 40th mall, SM City Novaliches. The area of Quezon City continues to be a key expansion area for SM malls. This reinforces our confidence in the prospects of Quezon City given its vibrant population and burgeoning business sector.”

SM City Novaliches has a leasable area of 42,721 sqm.
The mall’s anchor tenants are SM Supermarket, SM Department Store, SM Appliance Center, Ace Hardware, BDO, and Watsons. Other tenants include quick service restaurants Jollibee, KFC, McDonald’s, Mang Inasal, Shakey’s, and Pizza Hut; fashion and apparel retailers Bench, Penshoppe, Human, and Folded N Hung; and health and beauty salons Let’s Face It, Davids, Ricky Reyes, and GQ Barber, among others.

SM City Novaliches has a 500-seat food court, parking for
over 1,200 vehicles, and a terminal for public utility vehicles. SM Prime malls in the Philippines command a total of 4.8 million sqm of mall space.

Source: PSE Disclosure
Oct 21, 2010

Tuesday, October 19, 2010

SM Prime to Open SM City Calamba

The Philippines’ dominant mall developer and operator, SM Prime Holdings, Inc. (SM Prime), opened SM City Calamba October 15, 2010. SM's 39th shopping mall in the country and its third in the province of Laguna, after SM City Sta. Rosa and SM City San Pablo, SM City Calamba has a gross floor area of 66,516 square meters (sqm) and occupies 55,102 sqm of land.

The new mall’s anchor tenants are SM Supermarket, SM Department Store, SM Appliance Center, Ace Hardware, BDO, and Watsons. Other mall tenants include Jollibee, McDonald’s, KFC, Red Ribbon, Bench, Penshoppe, and National Bookstore. SM City Calamba, with a leasable area of 44,740 sqm, also offers a business center, a Cyberzone, and a food court that comfortably seats up to 340 diners. The mall has four cinemas with a combined seating capacity of about 1,200 and parking slots for over 300 vehicles.

SM Prime President Mr. Hans T. Sy said, “We are pleased to open the doors of our newest shopping mall, SM City Calamba. It is SM’s third mall in Laguna, a clear testament to the robust progress and development that the province has sustained. Laguna offers a large and diverse market driven by trade and tourism. SM is here to fully support the growth of this beautiful and very promising province.”

SM City Calamba followed the opening this year of SM City Tarlac and SM City San Pablo. With 39 malls all over the country, SM Prime has developed a combined GFA of 4.8 million sqm. Before the year ends, the company is set to open SM City Novaliches in Quezon City and its fourth mall in mainland China, which will be located in the city of Suzhou.

Source PSE Disclosure
October 14, 2010

Wednesday, October 13, 2010

Green Core allocates 40 MW of clean & affordable power to Visayas

Green Core Geothermal, Inc. (GCGI), a subsidiary of geothermal leader Energy
Development Corporation (EDC), will ensure that the provinces of Capiz, Iloilo and Aklan benefit from clean and affordable power for the next 12 years. The contract between GCGI and the Iloilo Electric Cooperative (ILECO 1), Aklan Electric Cooperative (AKELCO) and Capiz Electric Cooperative (CAPELCO) guarantee long-term power supply for both residential and industrial customers of the three cooperatives.

Based on the contracts, GCGI will supply AKELCO with 18 MW for 2010 and 10 MW from 2011 to 2020. AKELCO services 17 municipalities in Aklan and two municipalities in Antique. ILECO 1, on the other hand, is assured of 3 MW from 2010 to 2012 and 18 MW from 2012-2022. ILECO 1’s franchise areas cover 15 municipalities. CAPELCO, meanwhile, will get 12 MW for the next 10 years to energize 17 cities and municipalities in Capiz.

Power will come from the 112.5-MW Tongonan 1 in Leyte and 192.5-MW Palinpinon plants in Negros Oriental which GCGI won in a bidding by PSALM last year.

The officers of the three cooperatives are one in saying that geothermal is the best option for them. “We’re very happy with this deal primarily because of the low rates of geothermal compared with other sources. It’s good that we get 70 percent of our supply from GCGI’s geothermal plants and only 30 percent from more expensive sources. We are able to provide both our residential and industrial customers with clean, stable and affordable power,” CAPELCO general manager Edgar Diaz said.

EDC President and COO Richard Tantoco reiterated that the pricing of indigenous renewable energy resource such as geothermal is not only independent of any indexation to movements in global energy indices but is also VAT zero rated.

Hence, ILECO 1 General Manager Wilfred Billena is confident that the contracts “will also result in lower power rates for us in Iloilo.” AKELCO General Manager Chito Peralta likewise expressed satisfaction with the agreement. “Getting power has always been a challenge for us because as you know, Aklan is located at the tip of the grid. Now Green Core will be able to augment the power supply of the province and encourage more tourists to visit Boracay.”

“We’re very glad to have ILECO 1, CAPELCO and AKELCO as partners in delivering cleanenergy to Iloilo and Aklan. EDC’s long-term contracts with them will support the growth needs of their respective provinces and customers with clean, reliable and affordable power. Since the industry is leaning more towards clean energy, EDC, with its 34-year head start in the geothermal business, is well positioned to address the supply shortage in the Visayas grid,” Tantoco said.

Source: PSE Disclosure Sept 30, 2010

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