Earlier Cemex Holdings Philippines (CHP) reported a significant decline in cement sales for the first six months of 2023. It disclosed a 15% decline in cement sales compared to the same period last year. Cemex Holdings Philippines’s peer, Holcim Philippines, avoided its fate. Holcim’s sales held steady. For the first six months of 2023, HolcimContinue reading “Holcim defies cement sales slowdown suffered by Cemex”
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Poor results add misery to the remaining retail shareholders of CHP
On March 30, 2023, Cemex Asian Sout East Corporation concluded its tender offer for Cemex Holdings Philippines (CHP) shares. Following the completion of the tender offer, Cemex Asian South East Corporation (CASEC) now owns and controls approximately 89.86% of the issued and outstanding common shares of CHP, leaving a public float of only 10.06%. TheContinue reading “Poor results add misery to the remaining retail shareholders of CHP”
ALI’s 1H2023 net cash provided by operations slowed to 1.8B
In the first half of 2023, Ayala Land’s net cash provided by operating activities slowed to 1.8 billion as against the 9.4 billion it racked up in a similar period in 2022. The slowdown is a material 81%. With cash provided by operations slowing, ALI slowed down its net investing activities. In 1H2022, its netContinue reading “ALI’s 1H2023 net cash provided by operations slowed to 1.8B”
PLDT racking up debt; 1H 2023 long-term debt totals 235 billion
PLDT is one of the leading telecommunications and digital services providers in the Philippines, in terms of subscribers and revenues. It offers telecommunications and digital services across its extensive fiber optic backbone and wireless and fixed-line networks. As of June 30, 2023, it serves customers of 70.7 million mobile, fixed line, and data services. ToContinue reading “PLDT racking up debt; 1H 2023 long-term debt totals 235 billion”
CNVRG touches 52-week low as foreigns make consecutive net sells
On August 3, 2023, trading Converge Information and Communications Technology Solutions (CNVRG) touched 9.07, a 52-week low. Data showed a net foreign selling of 47.56 million at the end of the trading session. The day before, net foreign selling was much more significant at 56.52 million. Probably rattled by CNVRG touching a 52-week low, CNVRGContinue reading “CNVRG touches 52-week low as foreigns make consecutive net sells”
Market values 5%-yielding Rockwell’s shares less than PHR’s
Rockwell Land Corporation (ROCK) declared a cash dividend of 0.0752 per common share. With ROCK common shares trading at 1.46 apiece, the dividend translates to a cash dividend yield of 5.15%. Despite ROCK being a dividend-yielding share, the market values it at just 31.67% of its book value per share of 4.61. ROCK’s P/BV isContinue reading “Market values 5%-yielding Rockwell’s shares less than PHR’s”
Megaworld rides the improving margins of hotel business
Just recently, Megaworld raised 3.6 billion from the block sale of some of its MREIT stakes. Fresh from the fundraising, Megaworld announced that it would open before the end of the year, the Philippines’ biggest hotel, Grand Westside Hotel. Grand Westside Hotel is located inside Megaworld’s 31-hectare Westside City township in the bustling Entertainment CityContinue reading “Megaworld rides the improving margins of hotel business”
Foreigns sell PHR on PR, PHR’s P/BV better than its lender CHIB
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 asContinue reading “Foreigns sell PHR on PR, PHR’s P/BV better than its lender CHIB”
0.20 dividend proved SPC to be a value trap
In 2021, SPC POWER CORPORATION declared a total dividend of 1.55 Pesos a share. With that dividend windfall, SPC shoots up to the moon to reach as high as 15 a share. SPC did not suffer the same fate as San Miguel Energy Corp., as SPC embedded a pass-through provision for its fuel costs onContinue reading “0.20 dividend proved SPC to be a value trap”
BALAI beats RFM in gross profit percentage
BALAI NI FRUITAS, INC. is primarily engaged in trading fresh fruit drinks and other related products. Its famous brand is “Buko ni Fruitas.” BALAI’s products are sold in kiosks, mostly in malls. While RFM is also a food company involved in the manufacturing, processing, and selling of wheat, flour, and flour products, pasta, milk, juices,Continue reading “BALAI beats RFM in gross profit percentage”
Filinvest REIT pushes to counter lower revenue, higher cost
Total revenue for Filinvest REIT (FILRT) dropped to 800.9 Million in the first quarter of 2023 from 823.4 Million of the same period in 2022. Rental income improve by 15 Million but there was a staggering drop in tenant dues and miscellaneous income of 37.4 Million. The decrease in tenant dues was due to lowerContinue reading “Filinvest REIT pushes to counter lower revenue, higher cost”
Semirara Mining & Power Corp unit outage adds to disappointment
Semirara Mining & Power Corporation (SCC) disclosed that Unit 1 of its subsidiary Southwest Luzon Power Generation Corporation (SLPGC) is extending its unplanned outage. The outage initially occurred last June 17, 2023. In the first quarter of 2023, SLPGC net of intercompany eliminations delivered a net income of 632 million, more than double last year’sContinue reading “Semirara Mining & Power Corp unit outage adds to disappointment”
MWIDE sends 5.2B cash to stockholder Citicore for a property developer
Megawide Construction Corporation (MWIDE) reported as cash balance of 12.5 Billion as of the end of the first quarter of 2023. MWIDE’s cash ballooned as a result of its divestment of Mactan-Cebu International Airport operator to the Aboitiz Group. In 2022, MWIDE received from Aboitiz InfraCapital 15 Billion from the sale of its Mactan-Cebu InternationalContinue reading “MWIDE sends 5.2B cash to stockholder Citicore for a property developer”
Aboitiz buying AirAsia PH, a fake news or a leak? AEV vs MPI?
The PhilStar Global reported that the Aboitiz Group have taken control of AirAsia Philippines through the AA Com Travel Philippines Inc., the firm that bought a 60% stake in AirAsia Philippines. The Aboitiz Group through its holding company, Aboitiz Equity Ventures (AEV), then immediately denies the report and demanded that the report be taken down.Continue reading “Aboitiz buying AirAsia PH, a fake news or a leak? AEV vs MPI?”
FLI sitting on 72 Billion of real estate inventories, 36% of assets
As of 31 March 2023, Filinvest Land (FLI) holds 72 billion in real estate inventories. The real estate inventories constitute around 36% of its total assets. The real estate inventories were an increase of 600 million from the end of 2022 after selling real estate costing 1.6 billion. The financial statements of FLI show thatContinue reading “FLI sitting on 72 Billion of real estate inventories, 36% of assets”
Robinsons Land down by maturing debts, increasing cost of capital
At the end of June 14, 2023, trading, Robinsons Land Corporation (RLC) falls below the 14 Peso resistance level to close at 13.90. Despite an aggressive share buy-back program, RLC failed to take off. RLC appropriated 9 billion for the share buy-back program. So far 5.1 billion has been spent buying RLC shares from theContinue reading “Robinsons Land down by maturing debts, increasing cost of capital”
Ayala Corp.’s cost of capital rose 1.62X
On July 07, 2016, Ayala Corporation issued 10 billion bonds with a coupon rate of 3.92% per annum due 2023. AC intends to fully redeem the bonds to their maturity on July 7, 2023. The bonds shall be redeemed by payment in cash of the redemption price set at 100% of the issue price plusContinue reading “Ayala Corp.’s cost of capital rose 1.62X”
LTG should divests tobacco, 1Q23 volume slowed more than industry
Recently, LT Group issued a press release disclosing that the tobacco business’ net income for the first quarter of 2023 declined by 28%. It said further that the industry’s volume was 27.5% lower year-on-year in 1Q23. For LTG’s tobacco business, the volume was 31.1% lower year-on-year. After the press release, LTG’s share price went onContinue reading “LTG should divests tobacco, 1Q23 volume slowed more than industry”
Fake meat maker Quorn haunted MONDE investors
On June 1, 2021, Monde Nissin (MONDE) completed its Initial Public Offering and raised a gross amount of 48.6 billion. MODE priced its IPO at 13.50 a share. MONDE during its IPO touted its investment in Quorn, a fake meat maker, as its next growth area. As reported in Bloomberg, MONDE Chief Executive Officer HenryContinue reading “Fake meat maker Quorn haunted MONDE investors”
Bonds maturities drag Megaworld shares down
Megaworld (MEG) is facing bond maturities in the amount of 25.6 billion as reflected in their first quarter financial statements. In 2013, MEG issued a US$250 Million 10-year bond due 2013. Another bond due 2014, is a 7-year local bond issued by MEG in 2017. No disclosures and press releases as to how these bondContinue reading “Bonds maturities drag Megaworld shares down”