Oct 18,2021

Higher 3Q topline from $MREIT.  MREIT’s 3Q revenues rose to P711.2mn (+6%), higher than their P583.7mn target for the quarter.

Offer run for SGP is 26 Oct.-02 Nov., listing 10 Nov.  Meanwhile, KEEPR will sell up to 3bn common shares at P2-P2.50/share, final price setting on 28 Oct.  Offer run is 04-10 Nov., listing 19 Nov.

$SGP & $KEEPR float gets green light from PSE.  PSE cleared the follow-on offer of SGP & KEEPR.  SGP will float up to 1.05bn primary common shares for P12-P17/share, with price finalisation on 22 Oct.

In average terms, each Filipino spent P8,216 for healthcare goods & services (+10.7%) for the period in review, bringing its share to GDP at current prices at 5.6% (vs. 4.7% in 2019).

PSEi opens at 7,193.57 down 19.89 points or 0.28 percent.

PSEi 7,201.12 down 12.34 points or 0.17 percent.

PSEi 7,167.63 down 45.83 points or 0.64 percent.

PSEi 7,192.87 down 20.59 points or 0.29 percent.

PSEi 7,215.23 up 1.77 points or 0.02 percent.

PSEi closed at 7,219.81 up 6.35 points or 0.09 percent.

Oct 18,2021

STOCK IN FOCUS

PSEI closed at 7,213.46. The index is expected to test the next resistance zones near 7,300.00 and 7,432.40 for as long as it stays above 7,000.00 and 6,900.00 support levels. If you are planning to accumulate selected index stock positions for medium term hold, we recommend buying on pullback opportunities near 7,159.11 and 7,064.24 support zones and placing a strict mental stop if the index closes below 6,600.00

Oct 18,2021

First Metro Sec

$ACEN: JV with AMI AC Renewables to pilot battery energy storage system in Vietnam.

$ABS, $ABSP: sealed a deal with India’s Global One Studios to adapt some of the Filipino media company’s hit movies for Bollywood.

$MPI: Unit NLEX Corp. sees higher traffic volume this year, as quarantine restrictions are relaxed further.12

$KEEPR: The PSE greenlights the P7.5-Bn share sale of the company. Proceeds will be used to fund the expansion of product portfolio, investments in distribution and logistics networks, and general corporate purposes.

$FMETF : Closed @ 109.80 iNav @ Php109.6677 vs. last NAV @ 109.60.

$DMC (+2.42%), MPI (+0.75%) : Maynilad Water Services Inc. announced that Metro Manila and Cavite will be affected by several hours of water service interruptions next week to pave way for the flood control project.

$MREIT (-0.22%) : Is set to declare a cash dividend of at least P0.24 per share this month after posting higher revenues by Q3.

$ACEN (-4.59%) : Plunged despite news that it received a grant for the pilot of a utility-scale battery energy storage system in Vietnam together with partner AMI Renewables.

Oct 18,2021

COL FINANCIAL

$GLO: GLO on track to end the year with 1.4M fiber lines – Economy: Diokno sees more harm in raising rates too early

$MPI: MPI sees 25% increase in toll road volume this year

$MREIT: 3Q revenues up 6% Y/Y

$PAL: Lucio Tan injects Php12.75Bil fresh capital in PAL

Oct 18,2021

$ACEN ACEN and AMI to pilot battery energy storage system in Vietnam

October 16, 2021

Frozen resto foods available in $SM stores.  SM Retail’s unit, SM Markets, partnered with select restaurants to make their products available inside the supermarket.  At present, SM Markets carries 22 brands in 68 of its stores that includes among others:

$AEV redeems 10-year bonds ahead of maturity.  AEV will redeem on 21 Nov. its P1.8bn, 10-year bonds issued last 21 Nov. 2013, ahead of the 2023 maturity schedule.  Existing cash will be used to retire the bonds.

$GLO on track with fiber lines target.  GLO intends to end 2021 with 1.4mn fiber lines.  GLO built 50k ports in 2019 & this jumps to 600k ports in 2020.  Meanwhile, Speedtest Intelligence 3Q21 data by Ookla showed download speed surged 60% to 13.53MBps for GLO.

$DITO-Bayad partner for payment channels.  DITO Telecommunity grew its electronic loading channels through its tie-up with multi-channel payment platform, Bayad.  Bayad has 1,118 participating touchpoints where DITO subscribers may purchase their load & mobile data bundles.

Violation of Anti-Dummy law filed on $MWIDE-GMR executives.  DoJ indicted 15 executives of GMR Megawide Cebu Airport (GMCAC) based on Nat’l. Bureau of Investigation’s (NBI) complaint.  NBI alleged the executives violated Anti-Dummy Law in connection with Mactan-Cebu Int’l.

$ABS enter tie-up for film distribution in India.  ABS’ film production & distribution signed a deal with India’s Global One Studios (GOS) for adaptation of ABS’ 5 box office hits.  GOS is set to produce the remake of top-grossing films ‘Barcelona

Private placement in $PAL at P1.25/share.  PAL’s board approved the US$255mn (approx. P12.75bn) private placement of Buona Sorte Holdings (BSHI, parent firm of Trustmark Holdings Corp.) to be received by PAL in cash.

Improved 8-month remittances.  BSP reported remittances growth of 4.8% to $2.89bn in August, bulk of which came from land-based workers at $2.21bn (+4.2%).  This brought 8-month remittances to $22.67bn (+5.9%)

October 16, 2021

Dow 35,294.76, +382.20, +1.09%

Nas 14,897.34, +73.91, +0.50%

S&P500 4,471.37, +33.11, +0.75%

EPHE 32.41, +1.06%

TEL 32.41, +1.22%, P1,643.54 PhP 50.711, +0.21%

US 10Y 1.574, +6.00bps

PH 10Y 4.9426, +7.08bps

Gold 1,768.10, -1.66%

Bitcoin 61,444.70, +6.55% WTI Oil 82.66, +1.66%