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naimbag nga aldaw kadakayo amin
Pancake House embarks on 5-year overseas expansion
300 stores mostly in Middle East and Asean
By: Doris C. Dumlao
Philippine Daily Inquirer
2:33 am | Monday, July 2nd, 2012
Homegrown casual dining chain Pancake House Inc. is embarking on an overseas expansion program that aims to build a network of 300 stores—or as big as the scale of its current domestic business—in the next five to seven years.
In a briefing after the company’s annual stockholders’ meeting on Friday, Pancake House chairman, president and chief executive officer Martin Lorenzo said the group would like to establish the 300 stores mostly in the Middle East and Southeast Asian countries. This will be undertaken as it continues to expand its local operations, which will also reach 300 stores this year under various brands such as Pancake House and the Yellow Cab premium pizza chain, Lorenzo said.
“We can grow our (local) stores by 10-15 percent each year in the next five years targeting the very underdeveloped growth cities,” Lorenzo said.
The group plans to add 35 new stores in the country this year, targeting the so-called “new wave” cities such as Cebu, Davao, Laoag, La Union and Subic.
Lorenzo said it made more business sense now to expand outside the traditional urban hubs like Makati.
With its current scale of operations, Lorenzo estimated that Pancake House would be able to grow its net profit this year by 70 percent over last year. Profit attributable to parent equity holders in 2011 amounted to P90.1 million, on the back of P2.34 billion in revenue.
Cash flow as measured by earnings before interest, taxes, depreciation and amortization (Ebitda) was also projected to jump to P570 million this year from P330 million last year.
The biggest cash flow contributors among its brands for 2012 are expected to be Pancake House at P200 million and Yellow Cab at P230 million. “As of the first half, everything is on track,” he said.
The chain also owns Dencio’s Bar and Grill, Teriyaki Boy, Sizzlin’ Pepper Steak and Le Coeur de France. It operates Chicken Rice restaurants in the country.
Given its level of cash flow, Lorenzo said the group had about P350 million in free cash yearly. Annual capital spending is estimated at P100 million.
Overseas expansion is part of its strategy. The group has already established its presence in Qatar and Malaysia.
“When we acquired Yellow Cab it already had four very successful outlets in Qatar, so we’re going into Qatar now, actively franchising in Kuwait and UAE, all around the Middle East,” Lorenzo said.
Dubai-based Abraaj Capital, a private equity fund that counts Middle East royal families, high net worth individuals and sovereign wealth funds as investors, is helping Pancake House with its offshore expansion.
Pancake House gained entry in the region via a joint venture in Singapore that operates the Chicken Rice Shop chain in Malaysia.
“Chicken Rice is growing Pancake House in Malaysia and we’re growing Chicken rice here. They run Pancake House in Malaysia, we run Chicken Rice in Philippines, so there’s mutual dependence,” Lorenzo said.
In Malaysia,Pancake House is expected to end the year with seven stores, five of which are in Kuala Lumpur and two in Kota Kinabalu. There are three existing stores in Kuala Lumpur and one in Kota Kinabalu.
Ilocos Norte is on list of Top 10 Best Provinces
LAOAG CITY, July 11 (PIA) -- Ilocos Norte made it to the list of 10 Best Provinces in the Philippines through its local governance and business development plan.
Governor Imee Marcos said this her second state of the province address Monday.
“The province’s growth rate improved from 8.4 percent last year to 12 percent this year,” she said. The province's revenue was more than P1 billion this year, or up from the province’s previous income level of P707 million in 2010.
Marcos attributed this to efficient collection and belt-tightening measures, and new business investments in the province beginning last year. Among the major sources of income were the La Tabacalera commercial arcade and Badoc gateway tourist center in Badoc town.
Among economic activities that the plan gave way to were leasing public buildings to commercial developers, building of more commercial belts away from the downtown district to schools and to tourist stops. The local government is also opening more doors for business tycoons to pour their investments.
Business being set up are SaveMore and HyperMart stores in Laoag. Camella Homes will also operate in Ilocos next to Robinson’s Homes.
The provincial government has secured the approval of Pag-Ibig to build the first public housing project for government employees. The low-cost housing project "Adigi Homes" will be put up in Batac City. The province will also put up a pilot Condominium Project at the Marcos Stadium in Laoag.
Marcos has urged rural folks to open up their villages to tourists by providing home stays to meet the demands of tourist accommodations during peak summer vacations as nearly 700,000 tourists arrived in Ilocos Norte last summer.
“We were amazed by the attention we got from the media, tourists and even movie outfits. Film directors and their movie stars are coming and going to Ilocos Norte to film their movies,” she said.
Marcos, however, said hotel and resorts were not enough to accommodate all tourists and vacationers that came to visit the province last summer. She is targeting to attract at least 2 million tourists in the coming years. (JCR/VHS-PIA 1 Ilocos Norte)
Feature: ‘La Tabacelara’: Personifying Ilocano history and culture
LAOAG CITY, July 17 (PIA) -- Ilocos Norte has finally established a one-stop lifestyle and shopping center at the heart of the province, serving a daily taste of magnificent Ilocano history and culture.
Located beside the Ilocos Norte Museum, the La Tabacalera is a haven, enticing more tourists to visit the province by offering an unforgettable Ilocano experience with scenery and architecture incomparable to some international destinations.
La Tabacalera, which means ‘the tobacco,’ is an apt name as the Museo Ilocos Norte beside it was originally designed as the administrative center of the tobacco monopoly in Ilocos Norte during the Spanish regime in the Philippines.
It is also in contrast with the museum, which is an old structure made of brick, wood and iron. The non-resemblance of the two sparks curiosity among travelers and visitors but adds to their eagerness to take a tour inside the center.
Amid its tiny space, the La Tabacalera managed to bring out the best of Ilocos with a handful stands, food centers, bookstores and local cafes’ offering gastronomic goodness and fine Ilocano architecture.
The famous Ilocano painter Juan Luna, known for the painting “Spoliarium,” is the inspiration for the Johnny Moon Café’ located inside the center, a fusion restaurant serving traditional Ilocano favorites in western flair.
For only P100-P200 per person, visitors can have a taste of the famous Ilocano cuisines like dragon fruit rolls, chicharon flakes, crispy dinuguan with ensalada, tupig con tsokolate, bagnet sandwich, Laureana’s pasta verde, and poque-poque lasagna.
The interior of the café is decorated with colorful pop art murals inspired from old paintings and displays of a man sporting a handle bar mustache.
Johnny Moon is the English translation of Juan Luna where the concept of the said restaurant was acquired.
On the second level of ‘La Tabacalera’ is Samtoy Books, the first bookstore in Ilocos that features Ilocano classics and fascinating literature from local born talents.
Book enthusiasts get to purchase limited editions of history and political books. The bookstore also offers film viewing of classic movies every Saturday nights.
Lacasa Ilokano, a shopping center, is also a stand-out collection inside the center.
A mix of accessories and crafts for pasalubong can be found here like Ilocos Norte branded clothing, mugs, fashion accessories, and the Imelda Marcos’ wardrobe and accessory collections.
Other shops in La Tabacalera include Cheesecake, etc., Gerry’s Grill, Export Queen, Karimadon, Wade Shoes, Jelly Bean, and Folded and Hung.
The La Tabacalera added a cosmopolitan flavor to the province but not so much to overpower its natural charms.
La Tabacalera continues to draw not only local and domestic tourists but also, backpackers and travel bloggers, spreading the scenic and cultural wealth of Ilocos Norte. (ANL/CDG-PIA 1 Ilocos Norte)
News feature: Ilocos Norte posts economic mini-boom
LAOAG CITY, July 17 (PIA) -- The laid-back economic landscape of Ilocos Norte is being transformed to one with a bustling business activity.
The local economy expanded from 8.4 percent in 2011 to 12 percent this year, based on the province’s income accounts.
“Business tycoons like Henry Sy, Lucio Co, John Gokongwei, Senator Manny Villar are now doing business with us,” Gov Imee Marcos said. “Only GIs (Genuine Ilocanos) are lagging behind in terms of investing in Ilocos Norte.”
Real estate developers like Robinsons’ Homes and Camella Homes are presently occupying vast lots for their housing units which are both near the Laoag International Airport while SM Hypermart is developing its new branch in Laoag next to SaveMore which opened last year.
Marcos said the province’s income rose to more than P1 billion this year, from P707 million in 2010 when she began her term.
She credited the income improvement to the province’s efficient collection and belt-tightening measures coupled with local business ventures that the local government opened up beginning last year.
She noted that the province’s improved income came partly from the revenues generated by the La Tabacalera commercial arcade and tourist centers at the Badoc gateway in Badoc town.
Both commercial establishments were built by the provincial government for lease with private businessmen.
Marcos also rolled out more business activities and economic developments as she began her second year as governor.
Public buildings in downtown Laoag were leased to commercial developers namely the Ilocano Heroes Hall to accommodate SM Hypermart. The public building used to house offices of national government agencies and provincial departments and some business outlets.
Marcos also would like to attract business processing industry in Ilocos Norte following the endorsement by the Business Processing Association of the Philippines of Metro Ilocos as the “next wave cities.”
She said universities are now polishing their courses for English proficiency since BPOs will be the next big thing for the province. (ANL/CCA-PIA 1 Ilocos Norte)
Villar's Vista Land allots P2B for 3 projects
MANILA, Philippines - Villar-led property developer Vista Land & Lifescapes is spending P2 billion to develop residential projects in key tourist destinations - Vigan, Tagbilaran and Puerto Princesa.
Vista Land president and CEO Manuel Paolo Villar said it is launching the 3 projects in Vigan in Ilocos Sur, Tagbilaran in Bohol, and Puerto Princesa in Palawan. This is part of the company's expansion plans in the provinces.
"We have by far the broadest geographic reach of any developer with a land bank of 1,830 hectares," he said, in a statement.
The 3 projects are under the Camella brand. The projects involve the construction of 2,400 housing units, with an estimated market value of P5 billion.
Camella Homes Tagbilaran is located in Barangay Bool, near the foot of Banat-i Hill and has a view of the Mindanao Sea.
In Vigan, the Camella Homes project is on a 15-hectare property in Barangay Cabaroan, Bantay town. It is located near Plaza Salcedo, St. Paul's Cathedral and Calle Crisologo.
Camella Homes in Puerto Princesa is located just two kilometers away from beaches and resorts.
Vista Land's land bank now includes properties in tourist areas around the country. The company already has projects in 28 provinces and 58 cities and municipalities around the Philippines.
In 2011, the company launched 23 projects worth a total of P21 billion.
This year, Vista Land, a company owned by the family of Senator Manuel Villar, is planning to spend P15 billion in capital expenditures. Aside from Camella Homes, Vista Land's other brands are Brittany, Crown Asia, Communities Philippines and Vista Residences.
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Makipagna ak lang ittoy apo . Kamusta ngayen iti pinagbyag yo tatta?
Local food, furniture products shine in Ilocos science fair
BATAC, ILOCOS NORTE—Agriculture, food processing and furniture technologies were the highlight products at the North Luzon cluster of the National Science and Technology Week.
As one of the largest agriculture industries in the country, most of the products developed in the regions of Ilocos, Cagayan Valley, and Cordillera Administrative Region are agriculture byproducts.
Unlike before, homemade technologies for making fruit wine and vinegar, for example, have added semi-mechanized systems to fast track production and meet standards for bigger markets, said Elsa Chan, regional director of the Department of Science and Technology (DOST) for Ilocos.
The technology transfer and equipment acquisition was assisted by different programs of DOST, particularly under the Small Enterprise Technology Upgrading Program (SETUP).
Citing an example, Chan said the chichacorn snack of Ilocos is now being exported abroad and now comes in different flavors after local producers improved their packaging and automated some of the production process.
“Our local food producers have moved from kitchen scale to mass production by the addition of food safety machines to keep their process at par with exporters,” explained Chan.
This is the same for organic vinegar producers in Cagayan Valley, some of which now supply the vinegar to Mang Inasal chicken restaurant chain, said DOST Cagayan Valley regional director Dr. Urdujah Tejada.
To supplement agriculture products, the region is also encouraging poly-culture of freshwater tilapia fishes and prawns (ulang) in Isabela especially during the typhoon season when fish caught from the sea is lean.
The region has also installed smart water sensors to measure water turbidity and other properties to improve production and limit losses in the aquatic and agriculture sector.
For furniture technologies, engineered bamboo, or simply e-kawayan, was developed by engineers of Mariano Marcos State University (MMSU) and already being used by local businesses.
MMSU is currently patenting the process and machine for mass production of the e-kawayan. The city of Alaminos in Pangasinan recently received a P35 million grant to establish a factory in the village of Tangcarang.
The Ilocos Agriculture and Resources Research and Development Consortium (ILLARDEC) included bamboo propagation studies in its ong-term agenda to utilize and increase bamboo plantations in the region.
Compared to semi-hardwoods that take ten years to mature, bamboo can be harvested as early as three years and thus, offer quicker revenues to entrepreneurs, according to Chan.
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ingatok met lang a!