Philippines Market Insights 2017.12.12
フィリピン株式ニュースハイライト
News Highlights: Megawide Construction Corporation (MWIDE) co‐founder Michael Cosiquien is bowing out of MWIDE to focus on their family‐owned cold storage business through a 2-year transition period. DMCI Holdings, Inc. (DMC)’s fully-owned DMCI Masbate Corp. (DMPC) entered into an Engineering, Procurement & Construction (EPC) contract with China Eng’g Group Northeast No. 1 & 2 Electric Power Construction (NEPC1, 2) & China Southeast Asia Electric Power for 15MW thermal plant in Mobo, Masbate. Meanwhile, Fitch upgraded the Philippine’s credit rating to ‘BBB’ from ‘BBB-‐‘ with stable outlook
マーケットモニター
各国市場モニター
フィリピン株式市場動向
PHILIPPINES
Mart continued ascent, PSEi @ 8,359. The market continued to rise for the 3rd day after Fitch Ratings upgraded the country's credit rating by a level. All sectors ended on green territory led by Financials (+1.59%) and Mining and Oil (+1.97%), while only Services (-1.37%) took a beating. Among actively traded shares were: AC (+P10.00 at P1,040.00), SM (+P16.50 at P997.00), BDO (+P5.00 at P153.00), SMPH (+P0.30 at P36.80), and MBT (+P1.95 at P98.10), on 5.85bn turnover. Gainers outperformed losers, 114‐82, with net foreign outflows at P7.57mn.
Might trade sideways with upward bias: A push-and‐pull might again follow after the run-up above the 8,300 mark, though there might be an upward bias as investors continue to look for bargains on aggressive stocks unloading their remaining capex programmed for the year. Immediate support 8,250, resistance 8,440.
ASIA
Chinese shares rise: Asian bourses were broadly higher on Monday trade with Chinese stocks on the lead as shares were supported by yet another record close on Wall Street and the absence of any geopolitical flareups.
WALL STREET
Shares higher: US shares finished higher led by tech-‐ & energy firms ahead of the Fed’s decision on interest rates later this week.
COMMODITIES
Prices rise on UK pipeline shutdown: Crude oil prices hit another high as the UK North Sea’s main pipeline system is shut for weeks to undergo emergency repairs. West Texas Intermediate (WTI) climbed $0.66 to $58.02/barrel.
フィリピン国内各企業動向
MWIDE’s co‐founder bows out to focus on other business:
Megawide Construction Corporation (MWIDE) co‐founder Michael Cosiquien is bowing out of MWIDE to focus on their family-owned cold storage business through a 2-year transition period. Edgar Saavedra’s block widened to 41% last year after getting 14.67% for P5.68bn, while Cosiquien’s stake was lowered to 25%. No official statement has been given by the parties on the matter.
DMC’s unit enters into EPC contract for 15MW thermal plant:
DMCI Holdings, Inc. (DMC)’s fully-owned DMCI Masbate Corp. (DMPC) entered into an Engineering, Procurement & Construction (EPC) contract with China Eng’g Group Northeast No. 1 & 2 Electric Power Construction (NEPC1, 2) & China Southeast Asia Electric Power for 15MW thermal plant in Mobo, Masbate. Construction, testing & commissioning of the said plant will be finished after 20 months & 15 days from start date.
MRC amends terms of private placement:
MRC Allied, Inc. (MRC)’s board amended the terms of their private placement from 1.9bn common shares at P0.525/share, to P2.56bn shares at P0.39/share. No further data was given.
DNA to purchase 67% of Sydenham Lab:
Philab Holdings Corp. (DNA) will purchase 67% of 40-year-old firm, Sydenham Laboratories, producer of hormone‐based drugs & oral drug preparation in dosage form. DNA aims to lead in precision med & pharmacogenics in Asia.
フィリピン経済指標
PH gets credit rating upgrade:
Fitch upgraded the Philippine’s credit rating to ‘BBB’ from ‘BBB‐‘ with stable outlook. Fitch was positive on the administration’s infra plan, with GDP seen rising 6.8% for 2018 & 2019.
PNOC might bid out $2bn LNG terminal in Batangas:
The Philippine National Oil Company (PNOC) may bid out the $2bn LNG terminal in Batangas in case no qualified proposals are received by 31 Dec. PNOC is also holding talks with Asian Development Bank (ADB) for consultancy undertaking. The plan is to set up an integrated hub with storage, liquefaction, regassification & distribution facility with initial capacity of 200MW.
DICT wants 3rd telco player to start mid‐2018:
The Info & Communications Technology bureau (DICT) wants the 3rd telco player to start operating mid-‐2018, after China Telecom was selected by China’s gov’t. as their telco arm in the Phils.
Gov’t to review extension of 10-year license on Malampaya:
Gov’t. will review whether or not to extend the 10‐year license of SPEX & joint venture partners Chevron Malampaya LLV & PNOC‐EC after the field’s contract lapse in 2024. There is inclination to tap PNOC-‐EC as main operator & will just seek out farm‐in deal from qualified parties for technical expertise. That would make PNOC-‐EC get 100% of royalties from the present 10%.
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