BIZ BUZZ: MREIT’s ‘big plans’

Megaworld-sponsored MREIT Inc., the best-performing 2021 real estate investment trust (REIT) stock market debutant, is set to unveil fresh asset infusions from its parent firm that will be larger than originally envisioned by the group.

Kevin Tan, CEO of MREIT and Megaworld’s parent conglomerate Alliance Global Group Inc., hinted about this in a Facebook post last week. “I will be announcing in the next two weeks our big plans for 2022, including multiple property infusions across our major [central business district] townships,” he said.

This was as the second-generation tycoon took heart from the 22.4-percent share price appreciation of MREIT in 2021, which made this initial public offering (IPO) the second best performing in the market and the best performing among all the REITs that have gone public last year.

From its IPO price of P16.10 in October last year, MREIT closed on Friday at P21.80 per share, representing a 35.4-percent gain for investors.

On its “big” plans, we heard that MREIT is looking to surpass its target for 2022 in terms of injection of assets.

It had been earlier signaled that 100,000 square meters of additional leasable space would bulk up MREIT’s portfolio, of which 45,000 square meters will be injected in the first semester and 50,000 square meters in the second semester.

The numbers may now change as Megaworld is looking to infuse some of its built-to-suit assets, which house high quality tenants and “superior” lease tenure. Occupants of these assets include some of the largest financial, health-care, technology and consulting firms.

The group is also looking to throw in two more of its mature townships into the mix.

For those who have held on to the stock from its debut, this bodes well for dividend yield.

—Doris Dumlao-Abadilla

Fifth HEV

“HEV” stands for “hybrid electric vehicle” for the uninitiated out there.

And we’re talking about Toyota Motor Philippines’ announcement that they will introduce next month their fifth HEV in the form of the Toyota RAV4.

The decision to bring in the hybrid variant of what is known to be the pioneer in the crossover segment (meaning a cross between a car and an SUV, a concept which the RAV4 began decades ago) follows the success of previous hybrid models brought to the local market by the automobile arm of GT Capital.

Just last December, Toyota Motors Philippines launched the hybrid Camry, adding to a lineup that includes the Prius, Corolla Altis hybrid and Corolla Cross hybrid.

And why not, with the local market now increasingly conscious about the need to reduce emissions and save on fuel costs, too?

“On top of the self-charging hybrid technology (no need to plug in) the new RAV4 HEV is expected to carry more exciting innovation and technology, like advanced safety features, Toyota New Global Architecture development, combined with the signature quality, durability and reliability, suitable for the brave and adventurous,” the company said.

Toyota Motors will accept reservations starting today. Suggested retail price begins at P2.1 million.

—Daxim L. Lucas

New role

Airline industry veteran Bonifacio Sam is celebrating the new year with a new role.

Among taipan Lucio Tan’s most loyal executives and the longtime president of PAL Express, sister company of flag carrier Philippine Airlines (PAL), Sam was recently named chair of the Air Carriers Association of the Philippines (Acap).

It’s a prestigious new role for Sam. Acap, after all, represents the three major domestic players: PAL, Cebu Pacific and AirAsia Philippines.

In fact, our sources tell us Sam was already preparing for retirement but was asked by Tan to stay on as the airline group navigates its way to recovery.

The role of Acap chair is more than ceremonial, especially with the tough challenges facing the airline industry during the global health crisis.

But it’s also during the pandemic that airlines have played critical services flying people and goods within the Philippines and overseas.

Sam said members of Acap would continue to work with the government to sustain “vital air transport services for essential travels, repatriation of overseas Filipinos and delivery of urgent goods including lifesaving vaccines.”

Sam said air travel was safe for as long as proper health protocols were followed.

“We are one with the position of the Philippine air transport sector on plans to modify quarantine protocols, based on latest science and in line with international practices, that allow the air sector to maintain these vital services, alleviate any inconvenience for travelers (especially overseas Filipino workers) and continue to safeguard our personnel and our customers,” he said.

—Miguel R. Camus INQ

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