Tuesday, March 31, 2009 [ manilatimes.net ]
A subsidiary of DMCI Holdings, Inc. bagged the construction of the multibillion-peso project to extend the South Metro Manila Skyway from Bicutan to Alabang and the condominium 168 Residences.
In a disclosure to the Philippine Stock Exchange, DMCI said that its unit, D.M. Consunji, Inc., signed a contract with Citra Metro Manila Tollways Corp. for the design and construction of Stage Two Project of the Skyway for P8 billion.
The South Metro Manila Skyway is an elevated expressway extending from Bicutan, Parañaque to Alabang, Muntinlupa City, which is an extension, linkage or stretch of the South Luzon Expressway.
DMCI also entered into an agreement with Yeeloofa Development Corp. for the construction of the P3.48-billion two-tower 168 Residences located in Binondo, Manila, within the period of 42 months.
Each tower has 30 levels and has different unit layouts and covered floor areas, an underground water and sewerage treatment plant, commercial and condominium units, parking areas, and amenities including swimming pool.
In the first nine-months last year, DMCI’s profit reached P1.21 billion, or a 30-percent drop from the P1.73 billion posted in the same period a year earlier. Revenues amounted to P14.15 billion, up 52.3 percent from the previous year’s P9.29 billion.
DMCI said its lower net income was due to adjustments made last year to reverse recognition of extraordinary income in the water business.--Chino S. Leyco
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