SBMA posts record P789-M profit in ‘12
SUBIC FREEPORT–The Subic Bay Metropolitan Authority has achieved an all-time high profit in 2012.
Based on preliminary figures presented during the recent SBMA’s strategic planning conference, the agency posted a record profit of P789 million in 2012, a drastic turnaround from the P1.2 billion loss in 2011.
SBMA chairman and administrator Roberto V. Garcia said the turnaround was due to increased revenues, reduced operating expenses and a favorable exchange rate.
He said the SBMA’s revenue increase of 16 percent against 2011 was brought about by new major projects in seaport operations such as the Vale ore transhipment project and the start of commercial operations of the Phase 2 of the new container port.
Coupled with an aggressive collection campaign on existing accounts, new revenue streams were created through increased admission fees on importations and the imposition of fees to defray municipal expenses that were previously subsidized, he said.
Due to the SBMA’s comprehensive austerity program, the operating expenses have decreased by seven percent.
Likewise, salaries for employees dropped by seven percent as a freeze-hiring policy was implemented and manpower count was decreased.
Repairs and maintenance also decreased by 46 percent and advertising was slashed by 35 percent compared to 2011.
As a result, earnings before interest, taxes and depreciation jumped from P329 million in 2011 to P629 million – a 91 percent increase.
Due mainly to favorable exchange rates, unrealized foreign exchange posted a gain of P1.1 billion in 2012 from the previous year’s FOREX loss of P566 million.
In the meantime, the SBMA’s 2013 strategic planning session focused on developing new initiatives to sustain and improve further SBMA’s financial position in the coming years.
New strategic initiatives concentrating on the seaport, airport, tourism, and commercial and industrial leases were formulated, targets were set and detailed plans of action were submitted and approved by the SBMA Board.
SBMA wanted to ensure it would be ready and able to take advantage of the present upsurge in the country’s strong economic performance especially in attracting foreign investments, Garcia added. ● (PNA)
http://www.headlinegl.com/sbma-posts-record-p789-m-profit-in-12/
Best Restaurant in Clark Pampanga unveils regional dinner menu featuring the classic cuisine of Italy, all designed to pair nicely with fine vintage wines from Italy’s wine regions such as Tuscany, Piedmont, Veneto and Sicily, one more reasons for food and wine lovers to travel to Angeles City, Clark Philippines to satisfy their thirst for a wonderful meal at a fine dining restaurant, the best place to eat in Pampanga.
Yats Restaurant is the best restaurant for special dinner, best restaurant for dinner with friends near Manila, also the best place to celebrate special events.
Famous Restaurant in Pampanga, a place to dine with friends in Clark, cozy restaurant with a nice ambience, a nice function place for special occassions
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The new regional set menus rolled out recently by the best restaurant in Clark Pampanga stirred up renewed interest among visitors from Manila for real fine dining treat in Clark Pampanga as wine lovers from Subic, Tarlac, Manila, Angeles City, Clark Pampanga Philippines wine and dine at Yats Restaurant to enjoy good food paired with fine vintage wines from the wine cellars of this highly recommended resto bar in Pampanga
Are you looking for an attractive restaurant or a nice place to eat with friends in Clark, Angeles City Pampanga? Yats Restaurant and Wine Bar is a restaurant with good food and good wines for dinner located at Clark Angeles City Pampanga. Perfect for exclusive dinner venues for groups, recommended for private dinner in Philippines. A Restaurant in Clark for business dinner meeting. Private dinner place or dinner restaurant in Clark Subic Near Manila Angeles City Pampanga. Yats Restaurant is one of the Good Restaurant in Pampanga Angeles City Clark near Manila. Yats Restaurant is one of the good restaurants in Pampanga, a restaurant with good food, a place that is nice for celebration, ideal for business dinner meeting, a good place to enjoy family reunion, and an attractive restaurant that serves good wines for dinner.
Visitors come from Manila, Angeles City, Pampanga, Subic and Clark Philippines to enjoy a sumptuous seafood dinner at Yats Restaurant. Many guests order excellent white wine from the award-winning restaurant wine list of this famous fine dining restaurant in Clark. Favorite wine orders for guests in this restaurant include Chablis, Chassagne-Montrachet, Sancerre, Chardonnay of Chile’s Casa Lapastolle, Sauvignon Blanc from New Zealand and South Africa, Rose from Anjou, Pinot Noir from USA and Burgundy France and the all-time favorite, Meursault. A wide range of sparkling wine and Champagne is available also in this restaurant in Pampanga which is famous for its selection of vintage wines. Popular choices of guests in this restaurant include Paul Bara Champagne, Crement de Bourgogne, MUMM Cuvee Napa Sparkling wine, Prosecco and Cava.
For comments, inquiries and reservations click on Click here for inquiry and reservations
Restaurant@Yats-International.com
(045) 599-5600
0922-870-5178
0917-520-4401
Ask for Pedro and Rechel
Getting to this fine dining restaurant of Angeles City Clark Freeport Zone Pampanga Philippines
How to get to this fine-dining restaurant in Clark Pampanga? Once you get to Clark Freeport, go straight until you hit Mimosa. After you enter Mimosa, stay on the left on Mimosa Drive, go past the Holiday Inn and Yats Restaurant (green top, independent 1-storey structure) is on your left. Just past the Yats Restaurant is the London Pub.
Yats Restaurant & Wine Bar
Mimosa Drive past Holiday Inn, Mimosa Leisure Estate,
Clark Freeport Zone, Pampanga, Philippines 2023
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 Rea or Chay
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