In a press release, PH Resorts Group Holdings (PHR) teases that it is in the final stages of negotiations with one foreign and one local investor to help it fulfill its commitment to complete and open its flagship Emerald Bay integrated resort as soon as possible.
Located in Mactan, Cebu, Emerald Bay is envisaged as the premier integrated resort in the Visayas-Mindanao region. It will have a total of 146 gaming tables and 729 electronic gaming machines (EGMs), 780 hotel room bays, and five villas.
Under the press release’s cover, foreign traders/investors sold PHR. Foreigners were net sellers on the day of the press release—the day before that, they were net buyers.
Even though PHR is a subject of going concern due to the massive debt currently due against the meager current resources available, its value has not bottomed out. In fact, in terms of P/BV, it is valued better than its biggest creditor, China Banking Corporation (CHIB). It has a P/VB of 0.7612 against CHIB’s 0.6037.
You may follow our views and commentaries on Google News on the web or in the Google News app. Just search accuretti.com in Google News (or click this link). Then click the star to follow.