Greenhills and Ortigas Center = SM?

[chua_riwap]

another thing about Puregold, there has been a lot of allegation about Puregold being the largest smuggler in the Philippines.

yung may-ari nyan, si lucio co dati nababalita na big time smuggler nga nung panahon ni erap. remember puregold sa clark duty free? dyan nag-umpisa yan.

eto pa, read this.

Supermarket owner tied to

Supermarket owner tied to ‘lost’ cargo containers

Two warehouse operators have identified Lucio Co of the supermarket chain Puregold Price Club Inc. as the owner of imported goods believed to be part of the cargoes of some 1,900 containers reported missing from the Port of Manila and the Manila International Container Port early this year, according to an intelligence officer of the Bureau of Customs (BOC).
Simeon Caparroso Jr., a member of the BOC intelligence division, said Jimmy Go of Uni-Nexus Trading and Conrado Ybañez of Intercontinental Trading, who were arrested in separate raids, told him that Co had ordered a change in delivery plans a week before the raids last week. (Go’s brother-in-law, Sonny Angeles, was the listed owner of Uni-Nexus Trading.)
In his spot report to the BOC intelligence division chief, Caparroso said Co had asked Go and Ybañez to bring the goods to other warehouses that the two were running instead of bringing the shipments to a Pasig City warehouse. However, the two refused to reveal the locations of the other warehouses.
The BOC intelligence team has identified the new warehouse destinations of the commodities and has secured a warrant to conduct a raid on it this week, Caparroso said.

[Monseratto]

.

A look back... from a local media Press Release.

SM group was close to a deal to buy into the Ortigases’ property holding unit OCLP Holdings after a crucial bloc, which included British banking giant HSBC and some family members, consented to the deal.

The sources said that HSBC, the single biggest stockholder of OCLP with a stake of 34 percent in the property unit, has already signed some documents approving the sale. On the other hand, there was likewise a critical mass of Ortigas family members who had agreed to the transaction, aiming to unlock more values from their vast landholding.

The deal has crashed and burn...the "Press Release" forgot to mention something...Mercury Drug can breath easy now...

Posted on June 28, 2012 10:35:42 PM

SM buy-in blocked by Ortigas Group

THE ORTIGAS family has acquired Hongkong and Shanghai Banking Corp.’s (HSBC) 34% stake in the clan’s property firm for some P11 billion, blocking the SM Group’s attempts to buy into one of the country’s oldest real estate companies.

"The Ortigas Group exercised its right of first refusal as it bid for the shares held by HSBC ... OCLP Holdings (Ortigas & Co. Limited Partnership Holdings, Inc.) was able to match the earlier offer of the SM Group," company director Jaime M. Ortigas told BusinessWorld yesterday.

"HSBC was selling something worth like P11 billion for the entire 34% stake and the deal pushed through. Today was the deadline for the purchase payments," Mr. Ortigas added.

Corazon P. Guidote, senior vice-president for investment relations at SM Investment Corp. (SMIC), declined to comment. HSBC officials were not immediately available.

SMIC in February disclosed that it was in talks with OCLP Holdings, saying it was keen to tap into the Ortigas’ clan vast landholdings.

OCLP Holdings is the parent of Ortigas & Co., the firm behind the Greenhills, Valle Verde and Greenmeadows subdivisions, the Ortigas business center, as well as the Greenhills Shopping Center. It traces its roots to the 1920s when the Augustinians sold 4,033 hectares in what is mostly present-day Mandaluyong City to Frank W. Dudley and Francisco Ortigas.

"I guess they don’t want everything to [go to] SM," Joseph Y. Roxas, president of brokerage Eagle Equities, Inc., said when asked to comment on the deal.

Nevertheless, he said this shouldn’t significantly impact SM’s long-term strategy.

"I don’t think this will be a setback for them. They have a lot of investments elsewhere," Mr. Roxas said.

OCLP Holdings is unlikely to entertain any buy-ins soon, with Mr. Ortigas saying: "There are no immediate plans to sell any company stake to any party. We will just pursue our development projects on our own."

SM Investments were down by 0.82% to P722.00 each yesterday from P728.00 previously. -- Franz Jonathan G. de la Fuente

[Retz]

^

ung Casino na lang.

[vinj]

SM will just have to content itself with the rest of the Philippines for time being.

[ghosthunter]

I guess UNIMART can breath easier now. I think if SM was able to buy Greenhills, it would displace Unimart in favor of their own supermarket operation.

[Monseratto]

I guess UNIMART can breath easier now. I think if SM was able to buy Greenhills, it would displace Unimart in favor of their own supermarket operation.

Unimart should have moved to the old Gloria Maris by now, but GM is still there. Many projects have been on hold, including the demolition of Fitness First, Sugi and Pancake House...

[ghosthunter]

Unimart should have moved to the old Gloria Maris by now, but GM is still there. Many projects have been on hold, including the demolition of Fitness First, Sugi and Pancake House...

Gloria Mariz has already moved to their new building near Promenade. But it's a six month delay from their original transfer date.

Lets see how things go....

[falken]

In a way I'm glad that SM didn't get the Greenhills property. They'll just turn it into another SM style mall and get rid of the tiangges and other small shops doing business there.

[jon777]

In a way I'm glad that SM didn't get the Greenhills property. They'll just turn it into another SM style mall and get rid of the tiangges and other small shops doing business there.

im actually more in favor for the Ayalas taking over the Ortigas center. Sure, the tiangges provides a different shopping alternative but unfortunately, they sell fake, pirated products. a majority dont pay the correct taxes due the government and lastly, a lot dont pay minimum wages to their employees. may isa akong tinanong a couple of months ago, sabi nung saleslady P180 lang daw bigay ng employer niya....

[foifoi05]

Gloria Mariz has already moved to their new building near Promenade. ..

akalain mo, yung buong building na yun gloriamariz pala.... kala ko another annex mall...