Philippines Market Insights 2017.12.19

フィリピン株式ニュースハイライト

News Highlights:   San Miguel Corporation  (SMC) Global Holdings bought 100% of Masinloc Power Partners Co. Ltd.(MPPCL)  for $1.9bn.   ICT confirmed  its interest to acquire 65% of Evyapport, the 4th-­‐biggest in Turkey. Aboitiz Construction of AEV is discussing with Shandong Electric Power (SEPCO3) & Dongfang Electric (DEC) for partnership  opportunities.    Meanwhile,  regardless  of results  from a possible  tie-­‐up  with China Telecom,  PTT will tap wireless  telco & networking  technology provider, Chengdu Outwitcom, for its planned network expansion & Ruijie Networks as supplier.

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 recovers, PSEi @ 8,423: Mart settled above the 8,400 mark, recovering from a sell-­ off from prior session as investors hunted for bargains on index and non­‐index stocks. All sectors ended on green territory, with Mining and Oil (+1.55%) and Property (+1.55%) leading gains. Among actively traded shares were: SMPH (+P0.70 at P36.70), MBT (+P0.70 at P99.00), SM (unch. at P974.50), COSCO (+P0.18 at P7.63), and ALI (+P0.90 at P43.30), on  5.66bn  turnover.  Gainers  edged  out  losers,  103­‐100,  with  net  foreign  selling  at P196.20mn.

Might  trade  higher  albeit  thinly:  Mart  might  continue  to  push  higher  today  as  the President is expected to sign the TRAIN bill into finality as well as the 2018 national budget, though trading will likely be soft as some investors would opt to hold on to bargain stocks until year-­‐end. Immediate support 8,350, resistance 8,500.

ASIA

Marts mixed: After a flurry of central bank activity last week – the Federal Reserve raised interest rates but the Bank of England and European Central Bank made no changes to monetary policy – the Bank of Japan steps up this week to lead gains within the region

WALL STREET

US equities higher: Optimism on the passage of the tax bill pushed US equities higher.

COMMODITIES

Crude oil slightly lower: Oil futures saw a mixed finish Monday, with the U.S. benchmark slipping  in  quiet  trade  to  close  in  negative  territory.  West  Texas  Intermediate  (WTI) dipped $0.14 to $57.16/barrel.

 

フィリピン国内各企業動向

ICT  to  acquire 65%  of  Evyapport:    

International  Container  Terminal Services, Inc. (ICT) confirmed its interest to acquire 65% of Evyapport, the 4th-­‐biggest in Turkey. ICT is still in the stage of conducting due diligence for the port. Evyapport has an estimated capacity of 855,000 TEUs.

AEV’s   Aboitiz Construction is discussing with SEPCO3 & DEC for partnership:

Aboitiz Construction of Aboitiz Equity Ventures, Inc. (AEV) is discussing  with  Shandong  Electric  Power  (SEPCO3)  &  Dongfang  Electric (DEC) for partnership opportunities.  SEPCO3 provides construction services to energy firms, while DEC specialises in manufacturing.

SMC Global Holdings buys 100% of MPPCL for $1.9bn: 

San Miguel Corporation   (SMC)   Global   Holdings   bought   100%   of  Masinloc   Power Partners Co. Ltd.(MPPCL) for $1.9bn. MPPCL owns & operates the existing 630MW coal-­fired plant with 330MW already under construction & 10MW battery  energy  storage  facility  in  Masinloc,  Zambales.  Closing  of  the transaction is seen 1H18, subject to approval from the Phil. Competition Commission (PCC).

PTT to tap Chengdu Outwitcom & Ruijie Networks:

Regardless of results from a possible tie-­up with China Telecom, Philippine Telegraph and Telephone Corporation (PTT) will tap wireless telco & networking technology provider, Chengdu Outwitcom, for its planned network expansion  & Ruijie Networks as supplier.  PTT aims to spend $200mn while the Chinese firms will invest $200mn.  Chengdu Outwitcom provided the Wi‐Fi  service  in the outdoor  areas  of CCP during  the ASEAN  summit  last month.

PAL  gets its clearance from SEC:

SEC gave its clearance  last 13 Dec. 2017 for the equity restructuring of PAL.  The move cause PAL to use its additional paid‐in capital of P13.64bn  to wipe‐out its deficit of P13.573bn  as of Dec.2016

CEZA Administrator says cancellation of operations will boost new infrastructure:

Raul Lambino rationalised the grant of master licensor agreements with First Cagayan Leisure & North Cagayan Gaming & Amusement Corp., after the latter agreed to cancel their operations in Metro Manila & return to Cagayan Special Ecozone.  Lambino said the move would allow the entry of new players & help them build on new infrastructure in CEZA.

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