Philippines Market Insights 2018.2.26

フィリピン株式ニュースハイライト

News Highlights: The Philippine Stock Exchange, Inc. (PSE) 1:6.3847 rights offering will be priced at P236.20/share. SEC will release within the week results of its probe on 2GO Group, Inc. (2GO)’s F/S. Now Corp. (NOW) affiliate, NOW Telecom Company, secured an extension of its legislative franchise for another 25 years, or until 2043, for its telco license.

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フィリピン株式市場動向

PHILIPPINES

PSEi finished lower @ 8,526. Attempts to make a last-minute lift when the mart rose to as much as 8,526 were foiled by profit-taking, pulling local gauges 48 points at 8,467 (-0.56%). Major counters were down led by financials (-1%) & property (-0.95%), due to fears of potential hike in the Fed rate. Second- & third-tiers captured 23% of P8.85bn turnover, as market breadth favoured pessimists, 122- Turnover was P9.24bn.
Upward movement imminent. The local bourse looks set to track Wall Street’s ascent as U.S. investors begin to shrug-off some inflation anxiety. Eyes are on slated analyst briefings today for index members SCC, BDO & MER (approx.. 10% combined share in PSEi basket) as investors assess on 2018 prospects. Immediate support is at 8,500, resistance 8,600.

ASIA

Regained composure. Asian stocks on Friday were able to recover from midweek losses, closing the week with a reversal of declines stoked by interest-rate worries.

WALL STREET

Shares advanced. Comments from the Fed on steady economic growth pulled Treasury yields lower Friday, & aided US equities advance. DJIA +347pts, 25,309, (+1.4%), Nasdaq Comp. +127pts, 7,337, (+1.8%).

COMMODITIES

Oil ends higher. Oil held on to gains Friday, after data of one additional rig this week was announced, pushing crude to finish on its second consecutive weekly gain. West Texas Intermediate (WTI) climbed $0.91 at $63.55/barrel.

フィリピン国内各企業動向

Int’l certification given to ePLDT’s data center:

PLDT Inc. (TEL)’s VITRO data center obtained the Payment Card Industry Data Security Standard (PCI-DSS) Version 3.2 certification, an int’l accreditation that protects cardholder data. ePLDT’s VITRO has a max. capacity of 3,584 racks, the biggest data center facility in the country.
Aboitiz enters JV in weather data: Aboitiz Equity Ventures, Inc. (AEV)’s newly-formed unit, Weather Solutions, Inc., (WSI), partnered with Japan’s Weathernews, Inc., for delivery of weather data to local businesses. The centure would help provide real-time data across industries.

Clark Airport O&M will be subject to bidding:

Filinvest Development Corp. (FDC) & JG Summit Holdings, Inc. (JGS)’ unsolicited proposal to operate & maintain Clark Int’l Airport was rejected by the bureau of Transportation (DoTr) as the project will be subject to public bidding. Clark’s 100,000sqm terminal aims to double capacity to 8mn passengers per year.

PSE rights @P236.20 apiece:

The Philippine Stock Exchange, Inc. (PSE) 1:6.3847 rights offering will be priced at P236.20/share. Offer run will be 12-16 March from the previous 26 Feb.-02 Mar.

Findings on 2GO out this week:

SEC will release within the week results of its probe on 2GO Group, Inc. (2GO)’s F/S. If violation is found, 2GO might be slapped with a fine of at least P1mn plus extra P10k for each day since the wrongdoing was discovered.

2GO invests in Mober:

SM Investments Corp. (SM) 34.5%-owned 2GO Group, Inc. (2GO) will invest in Mober Technology PTE, an online delivery service. Mober has click, load, deliver scheme app, also known as an ‘Uber’ for logistics. It also provides home & store deliveries & pet shuttles.

NOW unit gets telco franchise extension:

Now Corp. (NOW) affiliate, NOW Telecom Company, secured an extension of its legislative franchise for another 25 years, or until 2043, for its telco license.

HVN will now be Golden Bria Holdings:

Golden Haven Memorial Park, Inc. (HVN) shareholders approved 20 Feb. 2018 the change in its name from Golden Haven, Inc. to ‘Golden Bria Holdings, Inc.’ Despite the name change, the company’s stock symbol will be retained at HVN.

PHEN-NGCP gets PA clearance from ERC:

A provisional authority (PA) was granted by the ERC to Nat’l. Grid Corp. of the Phils. (NGCP) & Phinma Energy (PHEN). This covers ancillary services that will support NGCP’s transmission.

ACR wants ERC to resolve NGCP connection:

Alsons Consolidated Resources, Inc. (ACR) sought intervention from the Energy bureau (DoE) to connect its Sarangani power plant (SaEC) to NGCP. ACR said their request has been pending for 15mos. already. SaEC is contracted to provide 105MW to distribution utilities in Mindanao.

Special panel on SC72 welcomed by MVP:

Manuel V. Pangilinan (MVP) welcomed the formation of a special panel that could pave the way for joint exploration in the West Phil. Sea. The Recto Bank (SC72) is estimated to contain 16.6tn cubic feet of gas & 416mn barrels of oil.

PT&T franchise violation probed:

Congress is probing on potential non-compliance from PT&T on its congressional franchise, after being sold by its former owners to the group of Salvador Zamora & Benjami Bitanga, without approval from Congress.

フィリピン経済指標

Iloilo highlighted by British Chamber:

Businessmen from Britain are exploring investment initiatives in Iloilo, with the region’s GDP estimate of 7.7%-8.3% this year. British Chamber of Commerce chair Chris Nelson, said they’re eyeing agri, tourism, services & IT.

Changi Airport will get 30% in the NAIA Consortium project:

The 70% will be shared by 7 members at 10% each: Aboitiz InfraCapital; AC Infra; AGI; AEDC; FDC; JGS & MPI. Planned spending is P100bn for phase 1, P250bn for phase 2.

Dunkin Donut franchisee slapped with P1bn tax evasion:

BIR filed its P1bn tax evasion complaint against Golden Donuts, Inc. (GDI) of the Prieto. The case covered only ITR & VAT returns for 2017. GDI meanwhile, said all their tax liabilities have been settled.

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