November 24, 2014, 1:00 pm
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1 Philippine Peso = 0.08175 UAE Dirham
1 Philippine Peso = 2.52025 Albanian Lek
1 Philippine Peso = 0.03984 Neth Antilles Guilder
1 Philippine Peso = 0.18954 Argentine Peso
1 Philippine Peso = 0.02567 Australian Dollar
1 Philippine Peso = 0.03984 Aruba Florin
1 Philippine Peso = 0.04451 Barbados Dollar
1 Philippine Peso = 1.72068 Bangladesh Taka
1 Philippine Peso = 0.03515 Bulgarian Lev
1 Philippine Peso = 0.00839 Bahraini Dinar
1 Philippine Peso = 34.70955 Burundi Franc
1 Philippine Peso = 0.02226 Bermuda Dollar
1 Philippine Peso = 0.02893 Brunei Dollar
1 Philippine Peso = 0.15379 Bolivian Boliviano
1 Philippine Peso = 0.05605 Brazilian Real
1 Philippine Peso = 0.02226 Bahamian Dollar
1 Philippine Peso = 1.37547 Bhutan Ngultrum
1 Philippine Peso = 0.20419 Botswana Pula
1 Philippine Peso = 242.04318 Belarus Ruble
1 Philippine Peso = 0.0444 Belize Dollar
1 Philippine Peso = 0.025 Canadian Dollar
1 Philippine Peso = 0.02158 Swiss Franc
1 Philippine Peso = 13.22368 Chilean Peso
1 Philippine Peso = 0.13638 Chinese Yuan
1 Philippine Peso = 47.72535 Colombian Peso
1 Philippine Peso = 11.95282 Costa Rica Colon
1 Philippine Peso = 0.02226 Cuban Peso
1 Philippine Peso = 1.9566 Cape Verde Escudo
1 Philippine Peso = 0.49704 Czech Koruna
1 Philippine Peso = 4.02203 Djibouti Franc
1 Philippine Peso = 0.13365 Danish Krone
1 Philippine Peso = 0.98142 Dominican Peso
1 Philippine Peso = 1.90345 Algerian Dinar
1 Philippine Peso = 0.28107 Estonian Kroon
1 Philippine Peso = 0.15928 Egyptian Pound
1 Philippine Peso = 0.4475 Ethiopian Birr
1 Philippine Peso = 0.01796 Euro
1 Philippine Peso = 0.04365 Fiji Dollar
1 Philippine Peso = 0.01421 Falkland Islands Pound
1 Philippine Peso = 0.01422 British Pound
1 Philippine Peso = 0.07103 Ghanaian Cedi
1 Philippine Peso = 0.95927 Gambian Dalasi
1 Philippine Peso = 156.46561 Guinea Franc
1 Philippine Peso = 0.16959 Guatemala Quetzal
1 Philippine Peso = 4.63944 Guyana Dollar
1 Philippine Peso = 0.17267 Hong Kong Dollar
1 Philippine Peso = 0.47229 Honduras Lempira
1 Philippine Peso = 0.13781 Croatian Kuna
1 Philippine Peso = 1.0309 Haiti Gourde
1 Philippine Peso = 5.46517 Hungarian Forint
1 Philippine Peso = 270.53194 Indonesian Rupiah
1 Philippine Peso = 0.0859 Israeli Shekel
1 Philippine Peso = 1.37302 Indian Rupee
1 Philippine Peso = 25.8669 Iraqi Dinar
1 Philippine Peso = 596.79501 Iran Rial
1 Philippine Peso = 2.74828 Iceland Krona
1 Philippine Peso = 2.51614 Jamaican Dollar
1 Philippine Peso = 0.01573 Jordanian Dinar
1 Philippine Peso = 2.62141 Japanese Yen
1 Philippine Peso = 2.00712 Kenyan Shilling
1 Philippine Peso = 1.28125 Kyrgyzstan Som
1 Philippine Peso = 90.36279 Cambodia Riel
1 Philippine Peso = 8.83749 Comoros Franc
1 Philippine Peso = 20.03116 North Korean Won
1 Philippine Peso = 24.74204 Korean Won
1 Philippine Peso = 0.00648 Kuwaiti Dinar
1 Philippine Peso = 0.01825 Cayman Islands Dollar
1 Philippine Peso = 4.02771 Kazakhstan Tenge
1 Philippine Peso = 179.22991 Lao Kip
1 Philippine Peso = 33.6746 Lebanese Pound
1 Philippine Peso = 2.91732 Sri Lanka Rupee
1 Philippine Peso = 1.85845 Liberian Dollar
1 Philippine Peso = 0.24382 Lesotho Loti
1 Philippine Peso = 0.06198 Lithuanian Lita
1 Philippine Peso = 0.01134 Latvian Lat
1 Philippine Peso = 0.02675 Libyan Dinar
1 Philippine Peso = 0.19782 Moroccan Dirham
1 Philippine Peso = 0.33574 Moldovan Leu
1 Philippine Peso = 1.10516 Macedonian Denar
1 Philippine Peso = 23.48097 Myanmar Kyat
1 Philippine Peso = 41.76497 Mongolian Tugrik
1 Philippine Peso = 0.17785 Macau Pataca
1 Philippine Peso = 6.48231 Mauritania Ougulya
1 Philippine Peso = 0.70465 Mauritius Rupee
1 Philippine Peso = 0.34209 Maldives Rufiyaa
1 Philippine Peso = 10.86134 Malawi Kwacha
1 Philippine Peso = 0.3031 Mexican Peso
1 Philippine Peso = 0.07468 Malaysian Ringgit
1 Philippine Peso = 0.24358 Namibian Dollar
1 Philippine Peso = 3.94057 Nigerian Naira
1 Philippine Peso = 0.59259 Nicaragua Cordoba
1 Philippine Peso = 0.15144 Norwegian Krone
1 Philippine Peso = 2.21322 Nepalese Rupee
1 Philippine Peso = 0.02824 New Zealand Dollar
1 Philippine Peso = 0.00857 Omani Rial
1 Philippine Peso = 0.02226 Panama Balboa
1 Philippine Peso = 0.06501 Peruvian Nuevo Sol
1 Philippine Peso = 0.05665 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.2613 Pakistani Rupee
1 Philippine Peso = 0.07545 Polish Zloty
1 Philippine Peso = 103.64567 Paraguayan Guarani
1 Philippine Peso = 0.08105 Qatar Rial
1 Philippine Peso = 0.07973 Romanian New Leu
1 Philippine Peso = 1.01873 Russian Rouble
1 Philippine Peso = 15.31271 Rwanda Franc
1 Philippine Peso = 0.08351 Saudi Arabian Riyal
1 Philippine Peso = 0.16628 Solomon Islands Dollar
1 Philippine Peso = 0.3147 Seychelles Rupee
1 Philippine Peso = 0.12678 Sudanese Pound
1 Philippine Peso = 0.16618 Swedish Krona
1 Philippine Peso = 0.02892 Singapore Dollar
1 Philippine Peso = 0.01421 St Helena Pound
1 Philippine Peso = 0.49424 Slovak Koruna
1 Philippine Peso = 97.59626 Sierra Leone Leone
1 Philippine Peso = 17.13777 Somali Shilling
1 Philippine Peso = 439.90652 Sao Tome Dobra
1 Philippine Peso = 0.19467 El Salvador Colon
1 Philippine Peso = 3.79702 Syrian Pound
1 Philippine Peso = 0.24371 Swaziland Lilageni
1 Philippine Peso = 0.72958 Thai Baht
1 Philippine Peso = 0.04097 Tunisian Dinar
1 Philippine Peso = 0.04434 Tonga Pa'ang
1 Philippine Peso = 0.04945 Turkish Lira
1 Philippine Peso = 0.14102 Trinidad Tobago Dollar
1 Philippine Peso = 0.68765 Taiwan Dollar
1 Philippine Peso = 38.47095 Tanzanian Shilling
1 Philippine Peso = 0.3361 Ukraine Hryvnia
1 Philippine Peso = 61.20632 Ugandan Shilling
1 Philippine Peso = 0.02226 United States Dollar
1 Philippine Peso = 0.53194 Uruguayan New Peso
1 Philippine Peso = 53.34498 Uzbekistan Sum
1 Philippine Peso = 0.1401 Venezuelan Bolivar
1 Philippine Peso = 475.05008 Vietnam Dong
1 Philippine Peso = 2.2012 Vanuatu Vatu
1 Philippine Peso = 0.05419 Samoa Tala
1 Philippine Peso = 11.78332 CFA Franc (BEAC)
1 Philippine Peso = 0.06009 East Caribbean Dollar
1 Philippine Peso = 11.76942 CFA Franc (BCEAO)
1 Philippine Peso = 2.13065 Pacific Franc
1 Philippine Peso = 4.78333 Yemen Riyal
1 Philippine Peso = 0.24374 South African Rand
1 Philippine Peso = 115.50189 Zambian Kwacha
1 Philippine Peso = 8.05475 Zimbabwe dollar

SM: Asean’s biggest property group

SM Prime Holdings Inc., Asean’s biggest property group, according to Hans T. Siy, president, will grow by 10 percent yearly in the next five years as it budgets P400 billion as capital expenditure.
 
By the end of 2018, SM Prime expects that it will have 10.96 million sq.m. of gross leaseable mall space out of 74 malls in the Philippines and 11 China-based malls, a total of 139,628 units of launched residential units, 460,000 sq.m., of leaseable office space out of 7 office buildings, and 2,187 hotel rooms, according to Jeffrey Lim, SM Prime chief finance officer.
 
“This will enable us to grow and improve the economic condition of the communities that we are in,” said Lim.
 
It will also “double” the company’s profit and revenues for the period from the 2013-reported P16.27 billion profit and P32.2 billion revenue.
 
This amounts to a compounded growth rate of 10 percent for both revenues and profits according to Lim, and a “mid-teen” return on equity goal.
 
Currently, SM Prime’s ROE stands at 11 percent. Sy said this  ensures that the company remains the biggest property group in the ASEAN region.
 
Sy also said that amidst all this, they expect the company’s mall and residential business to remain the group’s growth driver. 
 
The 5-year goal means the company will increase its mall GFA by 10 percent over the period, while the residential unit will see its combined unit launches grow 12-15 percent, noted Lim.
 
Henry Sy, Jr., SM Prime chairman, said the residential unit is looking to venture into the economic housing segment, priced at P1.5 million and below, as the unit diversifies  its portfolio.
 
Sy also said that as the Philippines enter into the integrated ASEAN economy, SM Prime is also looking at opportunities in neighboring countries, though the plan remains at the drawing board.
 
SM Prime is set to issue P20 billion in retail bonds this year which it will use to partly finance this year’s capital spending.
 
The company is also looking at a syndicated dollar debt to finance its China expansion.
 
Lim said funding for the medium-term plan will continue to be calibrated as the years go by.
 
For the year, SM Prime expects to open SM City Cauayan, Angono, and SM Zibo in China, which will add 280,000 sq.m. of GFA to the current mall portfolio.
 
The company is also looking at expanding its SM Megamall, SM City Bacolod, and Lipa, which together with new mall openings will increase the total mall portfolio to 7.5 million sq.m. By year-end.
 
SM Prime is likewise launching three new residential projects with 7,000 combined units by the second half of the year. New towers in four existing projects will likewise be built ti accomodate increasing demand.
 
For the office space, SM Prime is breaking ground ofr Three E-com by this quarter while topping-off of Five E-com is set by the third quarter of this year.
 
The hotels and convention center business meanwhile is expected to start contruction of Park Inn Clark by the latter part of the year, while the company plans to launch SMX Bacolod by the fourth quarter of the year.
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