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Friday, September 23, 2005
Memorial park developer denies financial problems
A developer of a chain of memorial parks dismissed speculations that it is experiencing financial difficulties.
Manila Memorial Park Cemetery, which is developing a 32-hectare property in Liloan, Cebu, pointed out it is even listed by Business World in the top 1,000 corporations in the country in 2003.
Manila Memorial Park Cebu branch manager Arlene del Socorro said the firm has remained stable despite stiff competition.
Top
“Being in the top 1,000 corporations means (the company’s) profitability is solid,” she said in a press conference yesterday.
“We’ve been in the business for 41 years, we will be around longer than that.”
Rolito Zabala, one of the sales area managers of Manila Memorial, said the Cebu branch has even exceeded its quota of P9 million for the first half of the year.
Manila Memorial has six parks in different areas in the country. The largest is in Dasmariñas with an area of 128 hectares.
Manila Memorial Cebu is the smallest, so far. But del Socorro said the developer intends to expand and is currently negotiating with owners of neighboring properties.
In the Business World list, Manila Memorial was reported to have gross revenues of P805 million and net sales of P604 million.
Del Socorro said the park in Liloan is being developed in phases. So far, what has been completed is just phase one, which covers 15 hectares.
She said more than a thousand plots have been sold.
Zabala said while competition remains stiff, Manila Memorial has the advantage of varied pricing, according to the size or type of memorial plot purchased.
Affordable
With various types of park lots—ranging from lawn lot to single and senior family estate.
“The lawn lots are very affordable even to ordinary office employees,” he said. He added that the firm has also designed a mode of payment that is within reach.
Del Socorro said Manila Memorial Park’s “silence” may have triggered speculations about its finances.
“Being an industry leader, we might have acted confident. But we will change that (by increasing promotional efforts),” she added. (LAP)
(September 23, 2005 issue)
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