Philippines Market Insights 2018.2.15

フィリピン株式ニュースハイライト

News Highlights: Metro Pacific Investments Corp. (MPI) & DMCI Holdings, Inc. (DMC) received an email from the Rep. of the Phils.’ Singapore counsel stating the Phil. gov’t. filed an application with the High Court of Singapore to set aside the First Partial Award dated 24 July 2017 that was issued by a unanimous Tribunal in the arbitration between Maynilad & the Republic. Globe Telecom, Inc. (GLO) launched its cloud-based Software-Defined Wide Area Network (SD-WAN) technology for businesses with multiple locations. Meanwhile, the Department of Budget and Management (DBM) raised its budget for right-of-way (ROW) acquisitions by 7% to P34.9bn this year to expedite infra projects.

マーケットモニター

各国市場モニター

 

各国の株式市場動向

PHILIPPINES

Mart continues gradual ascent: Similar to yesterday’s session, the market bounced back from intra-day weakness to end almost 30pts higher as bargain-hunting on large cap stocks prevailed. Property (+1.23%) and Mining & Oil (+0.89%) led gains. Among actively traded shares were: NOW (+P5.04 at P15.30), ALI (+P1.40 at P45.10), MPI (-P0.53 at P5.60), JFC (+P1.00 at P278.00), and SM (+P3.00 at P993.00), on 8.92bn turnover. Losers outpaced gainers, 85-124, with net foreign selling at P719.46mn.

Might trade sideways with upward bias: Mart might shake off US inflation data with core inflation flat at 1.8% (slightly below the Fed’s 2% target), allaying fears that the Fed might aggressively tighten monetary policy. Bargain-hunters might continue to be on the lookout for beaten up stocks with potentially good earnings for the year. Immediate support 8,450, resistance 8,660.

ASIA

Shares mixed: Asian shares were broadly mixed as local news took center stage, with Chinese shares broadly mimicking ascent from Wall Street

WALL STREET

Shares higher: Wall Street ended higher led by tech shares, despite mixed views over Jan.’s inflation & retail sales data.

COMMODITIES

Oil prices recover: Oil prices recovered after reporting two consecutive weekly crude oil inventory builds, with the EIA continuing with another build of 1.8mn barrels for the week to February 9. West Texas Intermediate (WTI) climbed $1.41 to $60.60/barrel.

フィリピン国内各企業動向

MPI & DMCI receives email stating PH Gov't filed an application with the High Court of Singapore to set aside First Partial Award issued in arbitration bet. Maynilad & the Republic:

Metro Pacific Investments Corp. (MPI) & DMCI Holdings, Inc. (DMC) received an email from the Rep. of the Phils.’ Singapore counsel stating the Phil. gov’t. filed an application with the High Court of Singapore to set aside the First Partial Award dated 24 July 2017 that was issued by a unanimous Tribunal in the arbitration between Maynilad & the Republic. In recap the Arbitral Award upheld the validity of Maynilad’s claim & ordered the Phil. gov’t. to compensate Maynilad for P3.4bn revenue losses starting 11 March 2015. Maynilad believes there are no valid ground to challenge or set aside the decision. Maynilad is 52.8%-owned by MPI, 25% DMC.

GLO launches cloud-based SD-WAN tech for businesses with multiple locations:

Globe Telecom, Inc. (GLO) launched its cloud-based Software-Defined Wide Area Network (SD-WAN) technology for businesses with multiple locations. SD-WAN will complement GLO’s current WAN & internet protocol - Virtual Private Network (IP-VPN) connections. Here, applications will run using available bandwidth in other connections & firms may re-route non-mission critical items that include video conferencing calls & e-mails.

SMPH to open 13,000 sqm. SM Center Imus on 16 Feb:

SM Prime Holdings, Inc. (SMPH) will open SM Center Imus on 16 Feb., which will cover 13,000sqm. GFA. The latest addition would boost SMPH’s other malls in Bacoor, Dasmarians, Molino, Rosario & Trece Martires.

DD's industrial leasing unit acquires 3.9ha property in Iloilo for 2nd industrial hub dev't:

DoubleDragon Properties Corp. (DD) industrial leasing unit, CentralHub Industrial Centers, acquired 3.9ha. in Iloilo that is 5kms. away from Iloilo Int’l. Airport & will have 22,000sqm. leasable space once developed. Meanwhile, CentralHub-Tarlac stands on 6.2ha., with 32,000sqm. leasable space. DD intends to have the first 8 CentralHub sites cover 100ha. by 2020. Each site will have multi-use warehouses for commissaries, cold storage, light manufacturing & logistics distribution. The industrial leasing segment is seen to improve DD’s 2020 net income goal to P5.5bn (from an earlier target of P4.8bn).

PNX launched Phoenix PULSE Technology, a new fuel formulation for improved engine power & acceleration:

Phoenix Petroleum Philippines, Inc. (PNX) launched its fuel formulation, Phoenix PULSE Technology, that has advanced cleaning & protection features for improved engine power & acceleration.

PAL filed a petition with CAB for fuel surcharge adjustment to offset higher jet fuel prices:

PAL Holdings, Inc. (PAL) filed its petition with the Civil Aeronautics Board (CAB) for fuel surcharge adjustment on all routes, to offset higher jet fuel prices. A hearing will be held on 28 Feb.

PF to raise around $1.5bn of funds but details are still for discussion:

San Miguel Pure Foods Company, Inc. (PF) confirmed the statement of its president, Ramon S. Ang, indicating PF could raise around $1.5bn, but details are still under discussion.

フィリピン経済指標

DBM raised its ROW budget by 7% to P34.9bn this year to expedite infra projects:

Department of Budget and Management (DBM) raised its budget for right-of-way (ROW) acquisitions by 7% to P34.9bn this year to expedite infra projects.

DoE issued circular 2018-02-0003 on competitive selection process of PSAs:

Department of Energy (DoE) circular 2018-02-0003 was issued on competitive selection process for power supply agreements (PSAs). The PSA template will be used by electric power industry participants that will specify technical parameters, indicating power as baseload, mid-merit &/or peaking, amount of energy delivered, type of fuel, among others.

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