MEG - news

By -

Your Ad Here
Local property giant Megaworld Corp. will put up "the most expensive" residential project at the heart of the country's foremost central business district in Makati City. "We are ready to launch a P5.5-B, high-end residential condominium building at a pivotal crossroads on the financial section of the Makati CBC," said Megaworld chairman Andrew Tan. "For a single-tower project to be valued at P5.5 B, that makes it the most expensive project of its kind anywhere in the country," he pointed out. Megaworld's residential tower will rise above the junction of Sen. Gil Puyat Ave. extension and Ayala Ave. in Salcedo Village, Makati. The site was formerly occupied by a Shell gasoline station. "That location is known as the 'choicest' intersection in the Makati business and financial district. It positions our project right next to some of the most prestigious business landmarks in the country," said Tan. The project will be marketed as One Central. "The name 'One Central' is our way of paying tribute, first, to the project's unmatched central location and, second, to its unique theme-cum-positioning as the 'No. 1 residential address' in the Makati CBD," Tan said. "One Central has been conceived for an exclusively high-end market. We envision it to be the address of choice for the country's success stories." Megaworld has put together a world-class development team to conceptualize, plan and execute the project. The team includes American design consultant Preben Kent and international structural consultant Over Arup + Partners. "The high-rise residential tower will be covered from top to bottom with glass. Its lobby will be interior -designed by Gettys Chicago, and it will have the look of a five-star hotel," said Tan. Megaworld had earlier planned to name the project "The Trumps" after the world trump, which means "to excel, surpass or outdo." "However, in opting to use One Central, we are by no means relinquishing our right to use the mark 'The Trumps' in any of our real estate projects in the Philippines," said Tan. Megaworld is facing American real estate developer Donald J. Trump in legal proceedings over Megaworld's right to trademark "The Trumps" in the Philippines. The case is now pending in the local Intellectual Property Office (IPO). "We believe Megaworld has a strong legal position," said Tan. "But we are prepared to abide by the IPO's decision, whichever way it goes." "We'd like to thank Mr. Trump for generating a lot f interest in One Central in the last few days. - Technistock/Citiseconline

MEG = 3.85 (-3.8%)

MEG formed a black candle with lower high and lower low with increased volume.

65MA acting as resistance while 130MA acting as support

Good luck to all MEG traders!
Your Ad Here

Comments

Post a Comment

Popular posts from this blog

EDC - found trough and possible new support level to form steep demand line

By -
Image
EDC 7.3 ( 1.4% ) EDC formed a trough at 6.9, which might be a new support level, to form a steep demand line Resistance: 7.8 Support: 7/6.9 Good luck to all EDC traders! PNOC-EDC potential bidders down to 16 10/11/2007 source: Technistock The number of potential bidders for the government's remaining 60-percent stake in PNOC Energy Development Corp. has gone down to 16 from the 24 that had submitted letters of interest. PNOC president Antonio Cailao said the 16 entities were those that met the Oct. 5 deadline for the submission of the initial pre-qualification requirements and passed the first screening process. The list of the pre-qualified bidders should have been released Wednesday, but Cailao said the PNOC Privatization Committee had decided to give the 16 entities a few more days to submit additional minor requirements. "Of the initial 24, eight have fallen off so we now have 16 potential bidders. But this number could still go down by the time the Privacom finishes its r...
Read more

Daily Notes

By -
Image
Daily Notes Top Losers: BDO, lower low, currently at overbought levels (RSI = 85.7, highest for the past year) JGS RCB MWC, most active list ALI, most active list Stock Watch AT higher high, resistance at MA130 (4.9), intraday 4.45 (highest in the past 3mos.)
Read more

BSP eyes measures to curb peso climb

By -
Buy more Philippine Pesos??? BSP eyes measures to curb peso climb By   Doris C. Dumlao ,  Michelle V. Remo Philippine Daily Inquirer The Bangko Sentral ng Pilipinas said 2013 could be a challenging year as far as preventing an even steeper appreciation of the peso was concerned, noting that a potential investment grade credit-rating for the country could drive more foreign portfolio investments. Admitting it was actively buying dollars from the market in 2012 to temper what could have been a sharper appreciation of the local currency, the BSP said it expected the need for more action to keep the peso as less volatile as possible next year. “Capital flows from a [potential] credit-rating upgrade will provide more challenge in terms of keeping the peso relatively stable and minimizing its volatility,” BSP Deputy Governor Diwa Guinigundo told reporters Friday. In 2012, the peso appreciated against the dollar by more than 6 percent partly on account of signific...
Read more