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GLO borrowed money to pay borrowed money, share price may eventually go down as dividend cut looming

For the nine months ending September 30, 2020 Globe Telecom (GLO) generated 45.8 Billion Pesos of cash from operations. That cash flow from operations for nine months is 17.18% lower than last year’s 55.3 Billion Pesos.  The lower cash flows from operations is no doubt driven by the slowdown in the economic activity brought aboutContinue reading “GLO borrowed money to pay borrowed money, share price may eventually go down as dividend cut looming”

BPI 9M20 net income of 17.2 Billion, a 22.1% drop from last year’s 22.03 Billion, anticipates increase in Non-Performing Loans

BPI PRESS RELEASE: BPI raises 9M 2020 provisions to 21.1 billion MAKATI CITY, Philippines — Bank of the Philippine Islands booked P21.06 billion in provisions for loan losses in the first nine months of 2020 in anticipation of an increase in NPL levels in light of the continued weakness in the economic landscape. This provisionContinue reading “BPI 9M20 net income of 17.2 Billion, a 22.1% drop from last year’s 22.03 Billion, anticipates increase in Non-Performing Loans”

Falling behind MerryMart in P/BV ratio, Robinsons Retail buys 300-store Rose Pharmacy to solidify further its cash making capabilities

Falling behind MerryMart in P/BV ratio in a wide margin, Robinsons Retail buys 300-store Rose Pharmacy to solidify further its cash making capabilities RRHI a cash machine Robinson Retail Holdings, Inc. (RRHI) has been pandemic resilient.  RRHI proved to be a cash machine amidst the pandemic.  In the first half of 2020 (1H20) when theContinue reading “Falling behind MerryMart in P/BV ratio, Robinsons Retail buys 300-store Rose Pharmacy to solidify further its cash making capabilities”

Warburg Pincus stands to reap 3x its investment in CNVRG

Warburg Pincus, through Coherent Cloud, in September 2019 invested U.S.$225,000,000 in CNVRG, all of which have now been invested. Warburg Pincus did not just bring capital Warburg Pincus is a leading global private equity firm focused on growth investing.  The firm has more than $56 Billion in private equity assets under management. Warburg Pincus isContinue reading “Warburg Pincus stands to reap 3x its investment in CNVRG”

Dito 3rd telco affiliate PNX not MVP led PXP could likely be the winner in the resumption of exploration in the South China Sea

Among the areas in the South China Sea, Reed Bank is the most promising area for oil and gas exploration.  Recto Bank is said to contain most of the oil and natural gas in the South China Sea. Exploration in Reed Bank is covered by Service Contract 72 which is being operated by Forum EnergyContinue reading “Dito 3rd telco affiliate PNX not MVP led PXP could likely be the winner in the resumption of exploration in the South China Sea”

Aboitiz Equity Venture (AEV) 10.5-Billion Bonds matured on August 6, 2020, no disclosure if the said bonds has been settled

Aboitiz Equity Ventures Inc. (AEV) reported on its July 30, 2020 first semester financial statements that AEV, the parent compay, has a 10.5-Billion Peso Bond maturing on August 6, 2020 and another 6.2-Billion Pesos bond will be maturing on November 21, 2020. As of December 31, 2019, AEV, the parent company, had cash and cashContinue reading “Aboitiz Equity Venture (AEV) 10.5-Billion Bonds matured on August 6, 2020, no disclosure if the said bonds has been settled”

Ayala Corp. (AC) sells Infigen Energy makes a quick profit of around 1 Billion Pesos, avoids raising more debts

In a press release dated September 9, 2020, Ayala Corporation ($AC) announced the sale of its 20% holdings in Infigen Energy to Spain’s Iberdrola Group at 0.92 AUD a share. AC accumulated its holdings in Infigen Energy in July at an average cost of 0.794 AUD. In just a period of around two months, ACContinue reading “Ayala Corp. (AC) sells Infigen Energy makes a quick profit of around 1 Billion Pesos, avoids raising more debts”

PLDT (TEL) sells Smart Towers as it addresses triple threat

It was reported that DMC Urban Property Developers, Inc.’s acquisition of PLDT’s (TEL) Smart Towers office building and the land they are built on has been approved by the Philippine Competition Commission. The sale is amidst the threats TEL is facing. TEL is facing a triple threat – of elevated capital expenditure requirements, elevated debtContinue reading “PLDT (TEL) sells Smart Towers as it addresses triple threat”

Henry “Big Boy” Sy Jr. transferred 30 Million SM (valued around 26 Billion Pesos) shares to his company

We have reported earlier that Henry “Big Boy” Sy Jr. has shuffled his 15 Million SM shares from his brokerage to his company (presumably a holding company) at 863.50 a share, crossed through the stock exchange on August 12, 2020 valued at 13 Billion Pesos. Then again on August 27, 2020 he transferred another blockContinue reading “Henry “Big Boy” Sy Jr. transferred 30 Million SM (valued around 26 Billion Pesos) shares to his company”

ACEN (AC Energy Philippines) burning cash from operations, value hinges on the execution of Ayala energy assets consolidation into ACEN

AC Energy Philippines Inc. (ACEN) has been burning cash from its operation during the first half of 2020 (1H 2020). It burned 0.9 Billion Pesos from its operation during 1H 2020, yet ACEN has steadily been rising. ACEN’s cash in its balance sheet as of end of 1H 2020 came from borrowings. Without the cashContinue reading “ACEN (AC Energy Philippines) burning cash from operations, value hinges on the execution of Ayala energy assets consolidation into ACEN”

“Todamoon” AREIT holders chided by an Ayala Land independent director, dividend players should be ready

Real Estate Investment Trusts (REIT) are known for their yield not so much for capital gains. This is what we emphasized in our earlier commentary on AREIT. When AREIT was offered to the public, many positioned to speculate that from the public offering price of 27 it would spike up to the moon. When AREITContinue reading ““Todamoon” AREIT holders chided by an Ayala Land independent director, dividend players should be ready”

AREIT’s IPO success is its greatest threat, ALI the only beneficiary

We discussed earlier that the AREIT public offering is a value crystallization exercise of Ayala Land, Inc. ($ALI). The AREIT offering was a way for ALI to unlock the value of its assets. The AREIT public offering will raise about 13.6 Billion Pesos for ALI which ALI badly needs. ALI is facing current debt repaymentContinue reading “AREIT’s IPO success is its greatest threat, ALI the only beneficiary”

COVID-19 Resources: Growing consensus on exactly how we catch Covid-19

We are not scientists or public-health experts but we crawl the world wide web for information, text, and literature about the COVID-19 disease and the virus, SARS-CoV2, that causes it from leading scientists, experts and journalists. Six months into this Covid-19 pandemic, a growing consensus among experts is developing that people catch Covid-19 through close-up,Continue reading “COVID-19 Resources: Growing consensus on exactly how we catch Covid-19”