August 14, 2017
DM CONSUNJI, Inc. secured contracts
amounting to P11.7 billion in the first six months of 2017, more than twice the
P4.5 billion worth of infrastructure, energy, building, and utilities and
plants projects it had in the same period last year.
In a statement issued over the
weekend, the construction arm of DMCI Holdings, Inc. (DMCI) said its order book
stands at P26.8 billion for January to June, 4% lower than the P27.9-billion
construction orders during the same period a year ago.
One of the newly signed projects is
the Cavite-Laguna Expressway project of Metro Pacific Investments Corp.’s
MPCALA Holdings, Inc. worth P7.2 billion. This covers the Laguna portion of the
project spanning 18 kilometers.
The firm’s other projects for the
semester are Anchor Grand Suites of Anchor Land Holdings, Inc., the Bued
Viaduct and Roadway of Private Infra Dev Corp., and the Light Rail Transit Line
2 East (Masinag) Stations under the Department of Transportation. DM Consunji
was also tapped by construction contractor JGC Philippines, Inc. for the civil
works of a thermal power plant.
The company is currently the
contractor for sections 1 and 2 of the Metro Manila Skyway Stage 3 project
being undertaken by San Miguel Corp.’s Citra Central Expressway Corporation.
Its real estate projects meanwhile
include Ayala Land, Inc.’s mixed-use development called Citygate inside the
Makati Central Business District, Ortigas & Co.’s luxury condominiums The
Royalton and Imperium in Pasig City, The Arete of Ateneo de Manila University,
as well as NCCC Mall of LTS Malls, Inc.
“We are seeing some uptick in
infrastructure projects but the construction growth is still primarily driven
by the private sector. Hopefully, more government-led projects will go online
this year,” DM Consunji President and Chief Executive Officer Jorge A. Consunji
was quoted as saying in a statement.
Data from the Construction Industry
Authority of the Philippines cited a 29% increase in government spending for
infrastructure in 2016 to P185 billion, driven by the implementation of
infrastructure projects under the Aquino and Duterte administrations.
Private construction, meanwhile,
grew 9.5% to P596.9 billion amid the increased demand for high-rise residential
and commercial buildings.
DM Consunji penciled a 65% increase
in earnings during the first semester to P630 million, against the P393 million
it booked in the same period a year ago. The company attributed the positive
performance to improved operational efficiencies complemented by lower
construction costs across its business units.
On the other hand, its parent DMCI
reported a core net income of P7.6 billion for the period, up by 21% boosted by
its energy, residential, and construction units.
Shares in DMCI shed 12 centavos or
0.76% to P15.68 apiece at the stock exchange last Friday. — Arra B. Francia
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