April 19, 2015, 3:55 pm
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1 Philippine Peso = 0.083 UAE Dirham
1 Philippine Peso = 2.93063 Albanian Lek
1 Philippine Peso = 0.04045 Neth Antilles Guilder
1 Philippine Peso = 0.20061 Argentine Peso
1 Philippine Peso = 0.02903 Australian Dollar
1 Philippine Peso = 0.04045 Aruba Florin
1 Philippine Peso = 0.04519 Barbados Dollar
1 Philippine Peso = 1.76051 Bangladesh Taka
1 Philippine Peso = 0.04084 Bulgarian Lev
1 Philippine Peso = 0.00852 Bahraini Dinar
1 Philippine Peso = 35.42982 Burundi Franc
1 Philippine Peso = 0.0226 Bermuda Dollar
1 Philippine Peso = 0.03042 Brunei Dollar
1 Philippine Peso = 0.15614 Bolivian Boliviano
1 Philippine Peso = 0.06872 Brazilian Real
1 Philippine Peso = 0.0226 Bahamian Dollar
1 Philippine Peso = 1.40872 Bhutan Ngultrum
1 Philippine Peso = 0.22264 Botswana Pula
1 Philippine Peso = 323.17287 Belarus Ruble
1 Philippine Peso = 0.04508 Belize Dollar
1 Philippine Peso = 0.02766 Canadian Dollar
1 Philippine Peso = 0.02152 Swiss Franc
1 Philippine Peso = 13.83966 Chilean Peso
1 Philippine Peso = 0.14 Chinese Yuan
1 Philippine Peso = 56.47464 Colombian Peso
1 Philippine Peso = 11.98468 Costa Rica Colon
1 Philippine Peso = 0.0226 Cuban Peso
1 Philippine Peso = 2.32055 Cape Verde Escudo
1 Philippine Peso = 0.57266 Czech Koruna
1 Philippine Peso = 4.00574 Djibouti Franc
1 Philippine Peso = 0.15601 Danish Krone
1 Philippine Peso = 1.0116 Dominican Peso
1 Philippine Peso = 2.21425 Algerian Dinar
1 Philippine Peso = 0.3272 Estonian Kroon
1 Philippine Peso = 0.1724 Egyptian Pound
1 Philippine Peso = 0.46268 Ethiopian Birr
1 Philippine Peso = 0.02091 Euro
1 Philippine Peso = 0.04598 Fiji Dollar
1 Philippine Peso = 0.01462 Falkland Islands Pound
1 Philippine Peso = 0.01512 British Pound
1 Philippine Peso = 0.0867 Ghanaian Cedi
1 Philippine Peso = 0.96551 Gambian Dalasi
1 Philippine Peso = 165.22997 Guinea Franc
1 Philippine Peso = 0.17364 Guatemala Quetzal
1 Philippine Peso = 4.68202 Guyana Dollar
1 Philippine Peso = 0.17516 Hong Kong Dollar
1 Philippine Peso = 0.4797 Honduras Lempira
1 Philippine Peso = 0.15828 Croatian Kuna
1 Philippine Peso = 1.06813 Haiti Gourde
1 Philippine Peso = 6.29591 Hungarian Forint
1 Philippine Peso = 289.9913 Indonesian Rupiah
1 Philippine Peso = 0.08846 Israeli Shekel
1 Philippine Peso = 1.41332 Indian Rupee
1 Philippine Peso = 26.88871 Iraqi Dinar
1 Philippine Peso = 638.45989 Iran Rial
1 Philippine Peso = 3.06622 Iceland Krona
1 Philippine Peso = 2.59047 Jamaican Dollar
1 Philippine Peso = 0.01601 Jordanian Dinar
1 Philippine Peso = 2.68695 Japanese Yen
1 Philippine Peso = 2.11048 Kenyan Shilling
1 Philippine Peso = 1.43691 Kyrgyzstan Som
1 Philippine Peso = 90.87818 Cambodia Riel
1 Philippine Peso = 10.29 Comoros Franc
1 Philippine Peso = 20.336 North Korean Won
1 Philippine Peso = 24.4912 Korean Won
1 Philippine Peso = 0.00681 Kuwaiti Dinar
1 Philippine Peso = 0.01853 Cayman Islands Dollar
1 Philippine Peso = 4.20277 Kazakhstan Tenge
1 Philippine Peso = 183.47475 Lao Kip
1 Philippine Peso = 34.08539 Lebanese Pound
1 Philippine Peso = 3.00837 Sri Lanka Rupee
1 Philippine Peso = 1.91294 Liberian Dollar
1 Philippine Peso = 0.27265 Lesotho Loti
1 Philippine Peso = 0.0663 Lithuanian Lita
1 Philippine Peso = 0.0147 Latvian Lat
1 Philippine Peso = 0.03129 Libyan Dinar
1 Philippine Peso = 0.22418 Moroccan Dirham
1 Philippine Peso = 0.41632 Moldovan Leu
1 Philippine Peso = 1.29337 Macedonian Denar
1 Philippine Peso = 24.19193 Myanmar Kyat
1 Philippine Peso = 44.58102 Mongolian Tugrik
1 Philippine Peso = 0.18042 Macau Pataca
1 Philippine Peso = 7.1176 Mauritania Ougulya
1 Philippine Peso = 0.81683 Mauritius Rupee
1 Philippine Peso = 0.34594 Maldives Rufiyaa
1 Philippine Peso = 10.19048 Malawi Kwacha
1 Philippine Peso = 0.34652 Mexican Peso
1 Philippine Peso = 0.08208 Malaysian Ringgit
1 Philippine Peso = 0.27265 Namibian Dollar
1 Philippine Peso = 4.49651 Nigerian Naira
1 Philippine Peso = 0.60966 Nicaragua Cordoba
1 Philippine Peso = 0.17701 Norwegian Krone
1 Philippine Peso = 2.25395 Nepalese Rupee
1 Philippine Peso = 0.02942 New Zealand Dollar
1 Philippine Peso = 0.0087 Omani Rial
1 Philippine Peso = 0.0226 Panama Balboa
1 Philippine Peso = 0.07059 Peruvian Nuevo Sol
1 Philippine Peso = 0.06068 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.29401 Pakistani Rupee
1 Philippine Peso = 0.08419 Polish Zloty
1 Philippine Peso = 112.57284 Paraguayan Guarani
1 Philippine Peso = 0.08225 Qatar Rial
1 Philippine Peso = 0.09241 Romanian New Leu
1 Philippine Peso = 1.16238 Russian Rouble
1 Philippine Peso = 15.56833 Rwanda Franc
1 Philippine Peso = 0.08474 Saudi Arabian Riyal
1 Philippine Peso = 0.17723 Solomon Islands Dollar
1 Philippine Peso = 0.30323 Seychelles Rupee
1 Philippine Peso = 0.1349 Sudanese Pound
1 Philippine Peso = 0.19535 Swedish Krona
1 Philippine Peso = 0.03042 Singapore Dollar
1 Philippine Peso = 0.0152 St Helena Pound
1 Philippine Peso = 0.50176 Slovak Koruna
1 Philippine Peso = 99.19447 Sierra Leone Leone
1 Philippine Peso = 15.74797 Somali Shilling
1 Philippine Peso = 512.24114 Sao Tome Dobra
1 Philippine Peso = 0.1976 El Salvador Colon
1 Philippine Peso = 4.26895 Syrian Pound
1 Philippine Peso = 0.27265 Swaziland Lilageni
1 Philippine Peso = 0.73086 Thai Baht
1 Philippine Peso = 0.04402 Tunisian Dinar
1 Philippine Peso = 0.04488 Tonga Pa'ang
1 Philippine Peso = 0.06052 Turkish Lira
1 Philippine Peso = 0.14365 Trinidad Tobago Dollar
1 Philippine Peso = 0.70157 Taiwan Dollar
1 Philippine Peso = 42.84794 Tanzanian Shilling
1 Philippine Peso = 0.47338 Ukraine Hryvnia
1 Philippine Peso = 67.71887 Ugandan Shilling
1 Philippine Peso = 0.0226 United States Dollar
1 Philippine Peso = 0.60104 Uruguayan New Peso
1 Philippine Peso = 56.53113 Uzbekistan Sum
1 Philippine Peso = 0.14348 Venezuelan Bolivar
1 Philippine Peso = 487.83794 Vietnam Dong
1 Philippine Peso = 2.42371 Vanuatu Vatu
1 Philippine Peso = 0.05591 Samoa Tala
1 Philippine Peso = 13.72 CFA Franc (BEAC)
1 Philippine Peso = 0.06101 East Caribbean Dollar
1 Philippine Peso = 13.72 CFA Franc (BCEAO)
1 Philippine Peso = 2.49594 Pacific Franc
1 Philippine Peso = 4.85804 Yemen Riyal
1 Philippine Peso = 0.27269 South African Rand
1 Philippine Peso = 117.25961 Zambian Kwacha
1 Philippine Peso = 8.17733 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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Del Rosario’s wishful thinking

By ELLEN TORDESILLAS | April 17,2015
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‘Del Rosario’s foreign policy is to whine about China and delude the Filipino people that the United States will risk the lives of its men to defend the Philippines against China.’

Opinion of the Day

All offenses are punished

By AMADO P. MACASAET | April 17, 2015
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‘While he may  enjoy parliamentary immunity, he should be punished by his own peers in a fair, impartial investigation.’
thought