GREED IS GOOD! : Philippine Stock Market [Archive]

DAILO

Jun 26, 2000, 09:04 AM

STOCK MARKET DIDDLEY FROM DUDDLEY GUIDE :) - PART 4

FINANCIAL ANALYSIS

These are some of the basic tools you can use to analyze the financial status of a company:

EPS (Earnings per share) -- what is left from gross revenues after taxes, bad debts and other expenses have been subtracted. The formula for EPS is net income divided by number of common stocks outstanding. The higher the earnings per share the better it is for the investor.

ROE (Return on Stockholder's Equity) -- presents what the company has done with the money the stockholders invested. The formula for the ROE is net income divided by total stockholder's equity. The higher the ROE the better it is for the stockholder. One must also compare your stock ROE to the industry average ROE to see how the stock is performing.

P/E (Price earnings) ratio -- shows the relationship between the stocks current price and its reported annual earnings. The P/E ratio indicates how much you need to pay to buy those earnings per share. The formula for computing the price earnings ratio is the market price of the share divided by the earnings per share. The lower the price earnings ratio, the more favorable it is for the investor.

Sales and earnings history -- Invest in a company that continuously experiences increases in sales and earnings. Track your stock's performance for at least 5 years to be able to analyze a trend. Note if the growth rate of earnings is greater than that of sales. This means that the company is more efficient and prudent in handling its expenses.

Beta -- measures how volatile a stock's price is relative to the stock market as a whole. A beta of 1 means the stock moves up and down at market pace. A beta of greater than 1 means it is faster and wider than the market. A beta of less than 1 suggests that the stock movement is fairly small and slower than the market as a whole. It is wise to avoid stocks with betas above 1 because they are volatile and capricious.

Company size -- is measured through market capitalization. The formula for market cap is market price of a share multiplied by number of common stocks outstanding. Large caps provide steady gains and less risk. Mid caps have moderate gains and moderate risk. Small-caps may furnish greater gains but also present the greatest risk.

Relative industry strength -- you can determine the standing of your stocks depending on the indicator or ratio that you use and rank them as EPS,P/E ratio, ROE etc.

There are other measures an investor can use to evaluate a particular stock: current ratio, quick ratio, leverage ratios, activity ratios, profitability ratios and growth ratios.

DIVERSIFYING THE PORTFOLIO

The advantage of diversification is that the risk on your total investments decreases. When one industry is plunging in terms of value another may be experiencing abundant gains. This cancels out the negative effect and protects the investor from experiencing extreme losses in his investments. It is advisable for an investor to diversify his/her investments: "Don't put all your eggs in one basket," so to speak.

GREED IS GOOD! :D :D :D

[This message has been edited by DAILO (edited 06-26-2000).]

DAILO

Jun 26, 2000, 09:20 AM

Originally posted by Noisy Cricket:
dailo,
i'm a complete newbie to stocks. don't know diddley from duddley. but i'd be interested to have at least SOME knowledge of their workings. especially for stocks of internet comapnies and start-ups. where do you suggest I start? err personal finance for dummies? would you recommend any book or website?

Greed is good! More power to you! :D :D :D

I just reposted my STOCK MARKET DIDDLEY FROM DUDDLEY GUIDE :) The art of Finance isnt something that can be learned overnight... you may be lucky at times and perhaps make a big gain... but trust me its just luck... Finance is learned from years of experience, both positive and negative... there is a lot of research that goes into it, fundamentals, charts, etc. However, I can help you by providing my advise.

If its Internet and Start-ups well than you are in luck... i have found a great interest in it also and have done extensive research on local, regional, and global IT groups. I post some of my research on these groups on the other thread GREED IS GOOD! : FOREIGN STOCK MARKETS.

Good Luck to you!

NoisyCricket

Jun 26, 2000, 03:10 PM

thank you, dailo! truly I am welcome. truly I AM THE NOISY CRICKET!!! :D :D :D

i see you like the diddley-duddley-duwap. the name is yours, my friend. I will cut and paste your articles as a tribute to your most worthwhile knowledge.. as soon as I get home that is.. don't touch that post..!

DAILO

Jun 26, 2000, 03:25 PM

Stock Price Indices

Stock Index Index Change
PSE Composite Index 1,532.24 -10.73
Banking and Financial Index 577.470 -4.280
Commercial 2,243.150 -6.450
Oil 2.790 -0.070
Mining 1,752.35 -34.54
Property 513.030 -11.670
All Shares 652.690 -4.140

EVERYTHING DOWN! NO VOLUME... WHAT A SAD MARKET

DAILO

Jun 26, 2000, 03:26 PM

PSE Top Gainers

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

SGR Central Azucarera Don Pedro 0.790 0.990 1 0.890 0.200 25.32% 2,455,500.0000

PTT Philippine Telegraph and Tel Corp 0.52 0.60 0.60 0.44 0.08 15.38% 10,400.0000

UW Uniwide Holdings Inc 0.440 0.480 0.480 0.450 0.040 9.09% 3,580,783.2500

PO Polar Mines and Development Corp 0.0180 0.0190 0.0190 0.0180 0.0010 5.56% 76,300.0000

SEVN Philippin Seven Corp. 4.75 5 5 4.70 0.25 5.26% 1,922,800.0000

VITA Vitarich Corporation 0.480 0.500 0.500 0.500 0.020 4.17% 35,000.0000

MRC MRC Allied Industries Inc 0.610 0.630 0.650 0.620 0.020 3.28% 2,822,700.0000

EVER Ever Gotesco Resources and Holdings Inc 0.0775 0.0800 0.0800 0.0800 0.0025 3.23% 104,000.0000

OV Philodrill Corporation 0.3500 0.3600 0.3600 0.3600 0.0100 2.86% 18,000.0000

CMT Southeast Asia Cement Holdings 0.370 0.380 0.380 0.330 0.010 2.70% 161,471.3594

DAILO

Jun 26, 2000, 03:27 PM

PSE Top Losers

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

VUL Vulcan Industrial and Mining Corp 0.3500 0.3000 0.3100 0.2900 -0.0500 -14.29% 105,000.0078

FCC Fortune Cement Corporation 0.45 0.40 0.40 0.40 -0.05 -11.11% 20,000.0000

EBCW Equitable PCI Bank, Inc. 1.900 1.700 1.700 1.700 -0.200 -10.53% 17,000.0000

APX Apex Mining Co Inc 0.0110 0.0100 0.0100 0.0100 -0.0010 -9.09% 362,000.0000

ANS A Soriano Corporation 0.490 0.450 0.450 0.400 -0.040 -8.16% 247,000.0000

MAC Macroasia Corporation 4.350 4 4.400 4 -0.350 -8.05% 4,472,851.5000

BHI Boulevard Properties Holdings Inc 0.2600 0.2400 0.2400 0.2400 -0.0200 -7.69% 108,000.0000

CHI Cebu Holdings Inc 0.660 0.610 0.610 0.610 -0.050 -7.58% 6,100.0000

GEI Global Equities Inc 0.7400 0.6900 0.7400 0.6700 -0.0500 -6.76% 5,139,100.0000

MA Manila Mining Corp 0.0075 0.0070 0.0070 0.0070 -0.0005 -6.67% 7,000.0000

DAILO

Jun 26, 2000, 03:29 PM

PSE Top Issues Traded

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

SMCB San Miguel Corp 52.50 52.50 52.50 52 0 0.00% 75,793,248.0000

MBT Metropolitan Bank and Trust Co 204 204 205 202 0 0.00% 51,171,080.0000

AC Ayala Corporation 7.80 7.80 7.80 7.80 0 0.00% 44,951,400.0000

TEL Philippine Long Distance Tel Co 785 785 790 785 0 0.00% 44,906,352.0000

RPC Reynolds Philippines Corporation 0.900 0.920 0.920 0.910 0.020 2.22% 27,249,800.0000

BPI Bank of The Philippine Islands 81 81 81.5 80.5 0 0.00% 0.0000

SMC San Miguel Corp 52 52 52 51 0 0.00% 0.0000

BPC Benpres Holdings Corp 4.15 4.15 4.20 4.10 0 0.00% 8,804,800.0000

MEG Megaworld Properties Holdings Inc 1.240 1.260 1.260 1.240 0.020 1.61% 7,677,516.0000

CHIB China Banking Corporation 700 700 700 700 0 0.00% 0.0000

lupuS

Jun 26, 2000, 04:37 PM

Something is going on...who's buying SEVN? That stock's been sleeping for so long.

DAILO

Jun 27, 2000, 10:56 AM

GOOD MORNING MANILA!
GOOD LUCK in your Trades today!

GREED IS GOOD! :D :D :D

DAILO

Jun 27, 2000, 11:21 AM

The only advantage of a thin market is that prices tend to become exaggerated because there is veru little buying or selling pressure. thus, prudent players should in fact be looking at the depressed prices for opportunities to make a killing.

For the longest time, we've been looking at second and third-liners because that's where all the action has been. Action means money--even if we're just talking of piecemeal profits. Now, the profitability of that strategy seems to be waning. All those "story"-stocks have been quickly bought up and sold down just as quickly.

Those who want to make real money should already be looking at the first-liners for opportunities. When the big foreign funds start dumping their cash here again, definitely the blues will be the first to move.

Examples are FLI and PCOR--trading at around 1.8 and 1.5 respectively. Both have an immediate target of 3 bucks. That's doubling your money at very little risk. I'm not saying buy these stocks now, but when the big wave starts, it usually catches everyone unprepared... and bitter.

Wise investors are fearful when everyone is greedy and greedy when everyone is fearful. Warren Buffett said that. Maybe it's time for everyone to listen.

GREED IS GOOD! :D :D :D

DAILO

Jun 27, 2000, 02:13 PM

PSE Top Gainers

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

PGMC Prime Gaming Management Corporation 20 27 27 24 7 35.00% 42,900.0000

EVER Ever Gotesco Resources and Holdings Inc 0.0800 0.0900 0.1000 0.0900 0.0100 12.50% 6,644,750.0000

UNI Unioil and Gas Development Co 0.2000 0.2250 0.2250 0.2250 0.0250 12.50% 2,250.0000

ARA Araneta Properties Inc 0.750 0.820 0.870 0.760 0.070 9.33% 221,500.0000

BELW Belle Corporation 0.1350 0.1450 0.1450 0.1400 0.0100 7.41% 308,672.6875

OPM Oriental Petroleum and Minerals Corp 0.0070 0.0075 0.0075 0.0070 0.0005 7.14% 612,500.0000

NN Negros Navigation Co Inc 0.200 0.210 0.210 0.200 0.010 5.00% 91,400.0000

IS Island Mining & Industrial

Corporation 0.0575 0.0600 0.0600 0.0600 0.0025 4.35% 1,063,183.6250

JFC Jollibee Foods Corporation 11.50 12 12 11.50 0.50 4.35% 47,000.0000

SEVN Philippin Seven Corp. 5 5.20 5.20 5 0.20 4.00% 821,000.0000

DAILO

Jun 27, 2000, 02:15 PM

PSE Top Losers

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

FEU Far Eastern University Inc 600 300 300 300 -300 -50.00% 6,000.0000

EPHI Edsa Properties Holdings Inc 1.800 1.500 1.700 1.100 -0.300 -16.67% 117,000.0000

PTT Philippine Telegraph and Tel Corp 0.60 0.50 0.50 0.50 -0.10 -16.67% 20,000.0000

BAL Balabac Resources And Hldgs 0.4700 0.4000 0.4000 0.3700 -0.0700 -14.89% 77,200.0000

SGR Central Azucarera Don Pedro 0.990 0.870 0.900 0.870 -0.120 -12.12% 87,300.0000

PPC Pryce Properties Corporation 0.9000 0.8000 0.8500 0.8000 -0.1000 -11.11% 387,000.0000

FSTE First eBank Corporation 2.50 2.26 2.26 2.26 -0.24 -9.60% 22,600.0000

STN Steniel Manufacturing Corporation 0.330 0.300 0.310 0.300 -0.030 -9.09% 15,300.0000

CMP C and P Homes 0.230 0.210 0.230 0.210 -0.020 -8.70% 590,013.7500

CBC Cosmos Bottling Corporation 2.500 2.300 2.300 2.300 -0.200 -8.00% 2,300,000.0000

DAILO

Jun 27, 2000, 02:16 PM

PSE Top Issues Traded

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

SMCB San Miguel Corp 52.50 52.50 52.50 52 0 0.00% 57,877,752.0000

BW BW Resource Corporation 5.400 5.600 5.600 5.400 0.200 3.70% 35,750,600.0000

SLC Sun Life Financial Services of Canada, I 675 685 690 680 10 1.48% 27,351,800.0000

FPH First Philippine Holdings Corp 23 23 23.25 23 0 0.00% 23,818,000.0000

MBT Metropolitan Bank and Trust Co 204 204 204 202 0 0.00% 22,485,320.0000

FLI Filinvest Land Inc 1.840 1.900 1.900 1.860 0.060 3.26% 19,125,040.0000

EBC Equitable PCI Bank, Inc. 44.50 45 45 45 0.50 1.12% 12,906,000.0000

MUSX Music Corporation 4.950 5 5.100 4.950 0.050 1.01% 11,748,600.0000

AC Ayala Corporation 7.80 7.90 7.90 7.80 0.10 1.28% 11,740,212.0000

MEG Megaworld Properties Holdings Inc 1.260 1.260 1.280 1.240 0 0.00% 9,035,940.0000

DAILO

Jun 27, 2000, 03:29 PM

Originally posted by lupuS:
Something is going on...who's buying SEVN? That stock's been sleeping for so long.

Philippin Seven Corp. : SEVN as of 11:50:45

Ask Volume Ask Bid Bid Volume
5300 5.10 5.20 2100
Last 5.20
Change 0.20
% Change 4.0000
Volume 161,000
Value 821,000.00
Previous 5
Open 5
High 5.20
Low 5

I havent heard any news on this? whats the deal here?

DAILO

Jun 28, 2000, 12:05 AM

PSE Top Issues Traded

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

TEL Philippine Long Distance Tel Co 770 775 780 765 5 0.65% 170,752,352.0000

MEG Megaworld Properties Holdings Inc 1.260 1.300 1.300 1.240 0.040 3.17% 61,830,360.0000

RPC Reynolds Philippines Corporation 0.890 0.890 1 0.890 0 0.00% 37,974,100.0000

MVC Mabuhay Vinyl Corporation 0.560 0.580 0.600 0.560 0.020 3.57% 30,967,600.0000

SMCB San Miguel Corp 52.50 52.50 52.50 52 0 0.00% 25,451,000.0000

SLC Sun Life Financial Services of Canada, I 685 695 700 690 10 1.46% 24,747,900.0000

SMC San Miguel Corp 52 52 52 51.50 0 0.00% 18,414,800.0000

ALI Ayala Land Inc 5.60 5.60 5.70 5.60 0 0.00% 19,010,800.0000

CBC Cosmos Bottling Corporation 2.300 2.300 2.300 2.300 0 0.00% 16,560,000.0000

BPC Benpres Holdings Corp 4.15 4.25 4.25 4.10 0.10 2.41% 12,260,200.0000

DAILO

Jun 28, 2000, 12:07 AM

PSE Top Gainers

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

ECP Easycall Communications Phil Inc 1.10 1.50 1.50 1.50 0.40 36.36% 30,000.0000

EPHI Edsa Properties Holdings Inc 1.500 2.020 2.020 2.020 0.520 34.67% 4,040.0000

GOB Gotesco Land Inc 0.1000 0.1200 0.1200 0.1200 0.0200 20.00% 240.0000

OPMB Oriental Petroleum and Minerals Corp 0.0070 0.0080 0.0080 0.0075 0.0010 14.29% 916,954.0000

BAL Balabac Resources And Hldgs 0.4000 0.4500 0.4500 0.4500 0.0500 12.50% 27,000.0000

GO Gotesco Land Inc 0.0900 0.1000 0.1000 0.1000 0.0100 11.11% 80.0000

PTT Philippine Telegraph and Tel Corp 0.50 0.55 0.60 0.50 0.05 10.00% 403,500.0000

SEVN Philippin Seven Corp. 5.20 5.70 5.70 5.30 0.50 9.62% 1,193,000.0000

BSC Basic Consolidated Inc. 0.3200 0.3500 0.3700 0.3200 0.0300 9.38% 1,491,900.0000

TDY Tanduay Holdings Inc. 6.600 7.200 7.200 6.700 0.600 9.09% 487,000.0000

DAILO

Jun 28, 2000, 12:08 AM

PSE Top Losers

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

PHES Philippine Estates Corporation 0.650 0.450 0.450 0.450 -0.200 -30.77% 45,000.0000

WPIW Waterfront Philippines Inc 0.2700 0.2000 0.2500 0.2000 -0.0700 -25.93% 196,000.0000

ARA Araneta Properties Inc 0.820 0.710 0.710 0.710 -0.110 -13.41% 35,500.0000

AJO AJO.net Holdings, Inc. 1.4000 1.2400 1.4000 1.2400 -0.1600 -11.43% 1,355,638.2500

OVB Philodrill Corporation 0.3800 0.3400 0.3400 0.3400 -0.0400 -10.53% 17,000.0000

PGMC Prime Gaming Management Corporation 27 25 25 25 -2 -7.41% 22,944.4453

ABA Abacus Consolidated Resources & Holdings 0.9300 0.8700 0.9200 0.8000 -0.0600 -6.45% 501,734.5000

MON Mondragon International Philippines Co 0.820 0.770 0.810 0.760 -0.050 -6.10% 1,631,800.0000

OV Philodrill Corporation 0.3600 0.3400 0.3400 0.3400 -0.0200 -5.56% 68,000.0000

BW BW Resource Corporation 5.600 5.300 5.600 5.300 -0.300 -5.36% 27,657,600.0000

denslim

Jun 28, 2000, 02:12 AM

you can visit our website at www.philstocks.net (http://www.philstocks.net) for technical and fundamental analysis of stocks being traded in the stock market. although the site isn't exactly tailored for the newbie, it should give one an insight on analyzing stocks. and i hope traders would benefit from our analysis on stocks and the stock market.

DAILO

Jun 28, 2000, 11:49 AM

WELCOME DENSLIM!

Lets all welcome Denslim. :)

Pls feel free to post your HOT TIPS here in:

GREED IS GOOD! :D :D :D

DAILO

Jun 29, 2000, 12:11 AM

PSE Top Gainers

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

B Baguio Gold Holdings Corp 2.4000 3 3.4000 2.5000 0.6000 25.00% 1,022,827.9375

IPO iPEOPLE Inc 1 1.2200 1.2200 1.2200 0.2200 22.00% 22,200.0000

BSC Basic Consolidated Inc. 0.3500 0.4200 0.4200 0.3600 0.0700 20.00% 6,843,900.0000

AIR Air Philippines International Corp. 0.3000 0.3500 0.3500 0.3500 0.0500 16.67% 350,000.0000

MAR Metro Alliance Holdings & Equities Corp 1.040 1.200 1.200 1.020 0.160 15.38% 470,600.0313

MA Manila Mining Corp 0.0070 0.0080 0.0080 0.0075 0.0010 14.29% 360,500.0000

UPM United Paragon Mining Corp 0.2200 0.2500 0.2500 0.2500 0.0300 13.64% 55,000.0000

AJO AJO.net Holdings, Inc. 1.2400 1.4000 1.4000 1.3000 0.1600 12.90% 1,677,220.0000

VUL Vulcan Industrial and Mining Corp 0.3100 0.3500 0.3500 0.3100 0.0400 12.90% 297,727.4063

MC Marsteel Cons Inc 0.0170 0.0190 0.0190 0.0170 0.0020 11.76% 178,000.0000

DAILO

Jun 29, 2000, 12:12 AM

PSE Top Losers

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

PMT Primetown Property Group 0.490 0.350 0.350 0.350 -0.140 -28.57% 3,500.0000

BCI Bacnotan Consolidated Inds Inc 8 6.50 8 6.50 -1.50 -18.75% 463,800.0000

MHC Mabuhay Holdings Corp 0.500 0.410 0.410 0.410 -0.090 -18.00% 61,500.0000

ALC Alsons Cement Corporation 0.300 0.250 0.250 0.250 -0.050 -16.67% 0.0000

ABAB Abacus Consolidated Resources & Holdings 1.0200 0.8800 0.8800 0.8800 -0.1400 -13.73% 8,800.0000

FDC Filinvest Development Corporation 1.68 1.52 1.52 1.52 -0.16 -9.52% 1,520.0000

APXB Apex Mining Co Inc 0.0110 0.0100 0.0100 0.0100 -0.0010 -9.09% 419,000.0000

KPM Keppel Philippines Marine Inc 0.710 0.660 0.750 0.600 -0.050 -7.04% 0.0000

SINO Sinophil Corporation 0.1500 0.1400 0.1400 0.1400 -0.0100 -6.67% 141,400.0000

LAND City & Land Developers Inc 3.300 3.100 3.100 3.100 -0.200 -6.06% 0.0000

DAILO

Jun 29, 2000, 12:14 AM

PSE Top Issues Traded

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

SMCB San Miguel Corp 52.50 53 53 51.50 0.50 0.95% 169,274,448.0000

TEL Philippine Long Distance Tel Co 775 780 785 780 5 0.65% 98,139,720.0000

MEG Megaworld Properties Holdings Inc 0.867 0.940 0.980 0.900 0.073 8.42% 88,261,200.0000

BW BW Resource Corporation 5.300 5.300 5.500 5.100 0 0.00% 29,853,400.0000

MBT Metropolitan Bank and Trust Co 199.1 200 203 199 0.9 0.45% 29,142,050.0000

AC Ayala Corporation 7.70 7.90 8 7.70 0.20 2.60% 22,522,800.0000

FLI Filinvest Land Inc 1.880 1.880 1.940 1.880 0 0.00% 18,326,210.0000

RPC Reynolds Philippines Corporation 0.890 0.890 0.890 0.850 0 0.00% 15,419,300.0000

SMC San Miguel Corp 52 52 52 51.50 0 0.00% 13,184,900.0000

V Vantage Equities Inc 2.02000 2.02000 2.02000 2 0 0.00% 7,131,973.5000

denslim

Jun 29, 2000, 12:32 AM

The Wait is Over
Stocks were hardly changed in thin trade today with market players staying sidelined, awaiting the U.S. Federal Reserve's decision on interest rates at its meeting which ends later today. Although the market expects Fed policy-makers to keep US rates on hold amid signs of a cooling U.S. economy, concerns about an increase later in the year are still there.
The market traded on thin volume, easily swinging the main index up and down within the day. At the close of today's trade, the PHISIX barely halted a seven day losing streak, gaining 1.64 pts or to 1,531.01. However, breadth remained negative with losers beating gainers, 45 to 42.

The Oil index jumped 3.5% to 2.96, as stocks belonging to the drilling for oil at the two offshore wells in Sulu, jumped higher. Basic Consolidated Inc. rose 9.37% to P0.35, while Oriental Petroluem & Mineral "A" and "B" shares rose 6.67% and 14.29% respectively. On the other hand, interest rate worries and the continued weakness of the Peso caused financial stocks to extend loses with the Banking and Financial index losing 0.86% to 570.82.

The Peso reached an intraday low of 43.16 in today's trade.

In the coming days, the market's direction will depend on the statement accompanying the FOMC decision. This will show what the future holds for US interest rates. Domestically, the peace and order situation may put a lid on the market's upside although most of the troubles in Mindanao had been already priced in by the market. Look for clearer signals.

more stock news and analysis on www.philstocks.net (http://www.philstocks.net)

denslim

Jun 30, 2000, 12:11 AM

June 29, 2000

Banking stocks are presently at their threshold levels. The Banking index is at its key support level of 570. A failure to form a double bottom could potentially pull down the Banking index by another 9.0% from its breakdown level. The lack of interest on banking stocks is influenced by the current uncertain environment in the financial market. The Peso's weakness coupled with the uncertain outlook on US interest rates painted by the Fed will make it harder for these stocks to recover. However, the technical outlook is not as bad. There is the likelihood of the double bottom holding as its RSI is showing some strength at its present support. Neutral.

http://www.philstocks.net/archives/tech/charts/chart-bank.gif

more analysis at www.philstocks.net (http://www.philstocks.net)

[This message has been edited by denslim (edited 07-07-2000).]

[This message has been edited by denslim (edited 07-07-2000).]

DAILO

Jun 30, 2000, 10:16 AM

Good Morning PExRs!

Happy Trading !

GREED IS GOOD! :D :D :D

denslim

Jul 1, 2000, 02:31 AM

Consistent with the sideways movement witnessed by the PHISIX in the week that just passed, share prices ended the week on a soft note as investors opted to remain on the sidelines with the main index giving up nearly 9 pts or a 0.6% WoW . Not even the traditional quarter-end window dressing was able to perk up the local market, as trading activity throughout the week remained sluggish with average daily turnover further receding by 14.1% to P827.0 Mn. Except for the more speculative Oil Sub-Index, all other sectoral indices retreated. The much awaited and overly emphasised US FOMC meeting came to pass without much ado as it opted instead to leave interest rates steady. But in the process, the market was left hanging as it opens the door for a future rate hike, which could at the earliest be in August , depending on US economic data that would be released between now and then. With the external factor temporarily shelved from investors' mind, attention instead focussed on domestic concerns.

read the complete weekly report on www.philstocks.net (http://www.philstocks.net)

DAILO

Jul 4, 2000, 09:56 AM

Good Morning PExRs! I'm back!
Happy Trading !

GREED IS GOOD! :D :D :D

DAILO

Jul 5, 2000, 10:36 AM

Phisix up but buying interest still muted

Manila, July 4 -- The Philippines' main stock index ended marginally higher Tuesday amid selective buying in blue chips but the general market continued to grope for direction as sentiment remains pounded by a deluge of concerns led by a falling peso, brokers said.

The key Philippine composite share index (PSEI) edged up 3.23 points, or 0.21%, to 1,538.88 points after languishing in the red for the most part of the session.

Overall, losers lorded over gainers 57 to 29, with prices of 42 issues unchanged. Value turnover remained dismal at 525.19 million Philippine pesos (PHP) (U.S. $12.05 million) from PHP397.55 million Monday.

Tower Securities' Teresa Lee-Jahrling said the lean volume which has prevailed in the market the past two weeks reflect the very little interest among investors.

"Nobody wants to move because people feel there's so much uncertainties around and the market is bound to behave this way, for I don't know how long," said James Lago, head of research at Wellex Global Equities.

Analysts said news of a slower growth in exports for May didn't help improve sentiment.

The government announced earlier Tuesday that the country's merchandise exports rose a slower 6.7% to U.S. $2.931 billion in May against the year-ago $2.747 billion following a 6.6% decline in revenues of electronics and components, the country's top export item.

But minor gains by index issues Ayala Corp., ABS-CBN Broadcasting Corp., Philippine National Bank and La Tondeña Distillers, Inc. managed to lift the index slightly.

Shares of Ayala Corp. rose 10 centavos to eight pesos while ABS-CBN added one peso to PHP53.50.

Shares of blue chip Metropolitan Bank and Trust Co. (Metrobank) slipped 1.5% to PHP199 intra-day on newspaper reports that the central bank may look into the books of Metrobank amid reports that it may have violated accounting rules to reflect higher net income last year. Shares of Metrobank recovered towards the close to end unchanged at PHP202.

"It's a cause for concern especially for those holding Metrobank shares but I'm sure the bank will stand by its decision which it believes is fair," said Wellex's Lago.

Power retailer Manila Electric Co.'s class B shares, also sold to foreign buyers, was the day's most active stock accounting for about 20% of total turnover. Those shares lost 50 centavos to close at PHP62.50.

Raul Tutong, analyst at I.B. Gimenez Securities, is optimistic of the market's potential to rebound in the medium-term as long as the key share index holds on to the 1,500-point support but said the market may continue consolidating until a major market-jolting news breaks out. -- Bridge News

denslim

Jul 7, 2000, 02:07 AM

July 6, 2000

The current bearish descent of SPI Technologies, Inc. is beginning to show some exhaustion. After months of declining, the stock formed a harami. However, the black white harami formed today is not the bullish type. And since the second body is near the bottom of the 1st real body, it is likely that the stock would move sideways rather than reverse. In view thereof, wait for a stronger reversal signal to accompany this first signal. Another matter that investors should check out for is the big seller that has been flooding the market with shares of SPI, thereby putting a cap on the issue's rally today. Wait for more confirmation before a trading buy signal is triggered.

http://www.philstocks.net/charts/chart-spi.gif

more stock analysis at www.philstocks.net (http://www.philstocks.net)

[This message has been edited by denslim (edited 07-07-2000).]

DAILO

Jul 8, 2000, 10:55 AM

Im back everyone... I've been busy... and let me correct that i am alive and well... i did not jump off a building as some of you who emailed me. I acknowledge the market sucks , however there are other markets... Theres a market open somewhere around the world even when ours is closed...

GREED IS GOOD! :D :D :D

DAILO

Jul 8, 2000, 10:57 AM

Bank of Commerce to acquire closed Urban Bank

Manila -- The Philippine central bank, through its policy-making body the Monetary Board, yesterday approved in principle the "much superior" proposal of Bank of Commerce to rehabilitate and take over Urban Bank Corp.

"The Monetary Board had approved our recommendation in principle. The proposal of Bank of Commerce was much superior. But this is still subject to the agreement with depositors," Norberto Nazareno, president and chief executive officer of Philippine Deposit Insurance Corp. (PDIC), said.

Bank of Commerce offered to buy both Urban Bank and its subsidiary Urbancorp Investment, Inc. for 1.65 billion Philippine pesos (PhP). Its offer was chosen over the offer of Asia United Bank, which even smaller because it has only offered to buy the bank and manage the investment house.

Nazareno said Bank of Commerce improved its proposal by agreeing to change into non-redeemable and convertible preferred shares the PHP750 million in deposits of three big companies in Urban bank.

Based on its original offer, Bank of Commerce was to issue two-year redeemable preferred shares to cover the PHP750 million deposits of San Miguel Corp., Petron Corp., and Manila Electric Co. that would be converted into equity.

Nazareno said the three companies will invest 25% of their respective exposure in Urban Bank through the PHP750 million pool that would be converted into equity.

SMC had PHP1.3 billion, Petron had PHP1 billion while Meralco had PHP500 million in deposits to Urban.

"Unlike the original term, this now becomes permanent equity," he said.

Bank of Commerce also offered to repay depositors in three years compared with Asia United Bank's repayment terms of seven years.

Bank of Commerce's proposal was boosted by the presence of the Social Security System which is willing to infuse PHP600 million to rehabilitate Urban Bank. SSS owns 15% of Urban Bank.

Bank of Commerce is controlled by Antonio "Tonyboy" Cojuangco and College Assurance Plan. Asia United is owned by the family of Jacinto Ng who also owns Rebisco.

Nazareno said the government is targeting to re-open the 28 branches of Urban Bank before July 26.

Urban Bank's liquidity problems was said to have been caused by the problems of its affiliate Urbancorp

DAILO

Jul 10, 2000, 10:04 AM

C&W pulls out of the Philippines

UK’s Cable & Wireless (C&W) is pulling out of the Philippines where it has operated a telecommunications company, Eastern Telecommunications Philippines, for over 100 years.

William Pamintuan, senior vice president of Digital Telecommunications Philippines, says the company signed an agreement with C&W on June 29 for the latter’s 40 percent stake in Eastern Telecom for $18 million.

“We recently asked them [C&W] if they were selling out and they said yes. So, we proceeded with the purchase, which we expect to be completed within 60 to 90 days. We believe the price we have agreed to pay is reasonable,” he says.

C&W began operating in the Philippines in 1878 when it established Eastern Extension Australasia and China Telegraph. The company was renamed Eastern Telecom in 1974 following a regulatory change which required foreign telecom companies to have local partners.

A C&W spokesperson in London declined to comment on the deal, but says the company is pursuing a new strategy of operating in three key markets — the US, Europe and Japan.

DAILO

Jul 10, 2000, 10:49 AM

PSE Top Gainers as of 10:51AM

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

WIN Wellex Industries Inc. 0.7000 0.8000 0.8000 0.7000 0.1000 14.29% 144,000.0000

OPMB Oriental Petroleum and Minerals Corp 0.0090 0.0100 0.0100 0.0095 0.0010 11.11% 967,500.0000

PNC Philippine National Construct Corp 8.30 9.10 9.10 9.10 0.80 9.64% 63,700.0000

CMP C and P Homes 0.200 0.215 0.215 0.210 0.015 7.50% 107,000.0000

CHIB China Banking Corporation 700 750 750 750 50 7.14% 75,000.0000

IMP Imperial Resources Inc 0.0280 0.0300 0.0300 0.0300 0.0020 7.14% 45,000.0000

MAC Macroasia Corporation 3.200 3.400 3.600 3.200 0.200 6.25% 1,899,200.0000

OM Omico Corporation 0.0080 0.0085 0.0085 0.0085 0.0005 6.25% 1,207,496.7500

WPI Waterfront Philippines Inc 0.640 0.680 0.680 0.640 0.040 6.25% 2,278,099.5000

PA Pacific Inc 0.0170 0.0180 0.0180 0.0180 0.0010 5.88% 54,000.0000

DAILO

Jul 10, 2000, 10:50 AM

PSE Top Losers as of 10:53AM

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

PMT Primetown Property Group 0.490 0.350 0.350 0.350 -0.140 -28.57% 3,500.0000

MARB Metro Alliance Holdings & Equities Corp 1.280 1 1 1 -0.280 -21.88% 20,000.0000

CYBR Cyber Bay Corporation 0.600 0.540 0.540 0.540 -0.060 -10.00% 16,200.0010

APC APC Group Inc 0.4900 0.4500 0.4500 0.4500 -0.0400 -8.16% 106,764.7109

PHES Philippine Estates Corporation 0.320 0.300 0.300 0.300 -0.020 -6.25% 24,000.0000

EEI EEI Corporation 0.390 0.370 0.370 0.370 -0.020 -5.13% 18,500.0000

ARA Araneta Properties Inc 0.680 0.650 0.660 0.650 -0.030 -4.41% 39,400.0039

BELW Belle Corporation 0.1400 0.1350 0.1350 0.1350 -0.0050 -3.57% 2,700.0000

MBT Metropolitan Bank and Trust Co 199 194 199 194 -5 -2.51% 11,485,060.0000

BEL Belle Corporation 1.040 1.020 1.020 1.020 -0.020 -1.92% 368,953.8750

DAILO

Jul 10, 2000, 10:51 AM

PSE Top Issues Traded as of 10:54AM

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

BPC Benpres Holdings Corp 4.30 4.35 4.40 4.35 0.05 1.16% 19,342,950.0000

BW BW Resource Corporation 5.200 5.200 5.400 5.100 0 0.00% 18,925,600.0000

ALI Ayala Land Inc 5.60 5.80 5.90 5.70 0.20 3.57% 14,485,100.0000

RPC Reynolds Philippines Corporation 0.830 0.830 0.830 0.800 0 0.00% 13,503,500.0000

SLC Sun Life Financial Services of Canada, I 760 775 780 775 15 1.97% 0.0000

SMPH SM Prime Holdings Ltd 5.400 5.400 5.500 5.400 0 0.00% 22,683,200.0000

AC Ayala Corporation 8 8.20 8.30 8.10 0.20 2.50% 8,633,602.0000

FLI Filinvest Land Inc 1.940 1.980 2.020 1.940 0.040 2.06% 10,488,540.0000

PCOR Petron Corporation 1.32 1.34 1.38 1.32 0.02 1.52% 7,691,860.0000

MPC Metro Pacific Corporation 0.630 0.640 0.650 0.620 0.010 1.59% 7,325,222.0000

DAILO

Jul 10, 2000, 03:08 PM

PSE Top Gainers as of CLOSING

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

WIN Wellex Industries Inc. 0.7000 0.8000 0.8000 0.7000 0.1000 14.29% 144,000.0000

DMC DMCI Holdings Inc 0.500 0.550 0.550 0.540 0.050 10.00% 246,500.0000

PEP Premiere Entertainment Productions Inc 0.360 0.390 0.390 0.390 0.030 8.33% 3,900.0000

MAC Macroasia Corporation 3.200 3.450 3.600 3.200 0.250 7.81% 2,788,850.0000

IMP Imperial Resources Inc 0.0280 0.0300 0.0300 0.0300 0.0020 7.14% 69,000.0000

ATN ATN Holdings Inc 2.900 3.100 3.100 3 0.200 6.90% 204,100.0000

OM Omico Corporation 0.0080 0.0085 0.0085 0.0085 0.0005 6.25% 1,742,500.1250

PA Pacific Inc 0.0170 0.0180 0.0180 0.0180 0.0010 5.88% 54,000.0000

OPMB Oriental Petroleum and Minerals Corp 0.0090 0.0095 0.0100 0.0095 0.0005 5.56% 1,321,500.0000

SBC Solid Bank Corporation 180 190 190 190 10 5.56% 38,000.0000

DAILO

Jul 10, 2000, 03:09 PM

PSE Top Losers as of CLOSING

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

PMT Primetown Property Group 0.490 0.350 0.350 0.350 -0.140 -28.57% 3,500.0000

MARB Metro Alliance Holdings & Equities Corp 1.280 1 1 1 -0.280 -21.88% 20,000.0000

PPC Pryce Properties Corporation 0.9900 0.8000 0.8000 0.8000 -0.1900 -19.19% 480,000.0000

FJP F and J Prince Holdings Ltd 1.3000 1.1000 1.1000 1.1000 -0.2000 -15.38% 60,500.0000

ACR Alsons Consolidated Resources Inc 0.350 0.310 0.350 0.310 -0.040 -11.43% 33,000.0000

CYBR Cyber Bay Corporation 0.600 0.540 0.540 0.540 -0.060 -10.00% 21,600.0000

APC APC Group Inc 0.4900 0.4500 0.4500 0.4500 -0.0400 -8.16% 106,764.7109

BELW Belle Corporation 0.1400 0.1300 0.1350 0.1300 -0.0100 -7.14% 40,000.0000

PHES Philippine Estates Corporation 0.320 0.300 0.300 0.300 -0.020 -6.25% 72,000.0000

KPM Keppel Philippines Marine Inc 0.740 0.700 0.740 0.600 -0.040 -5.41% 90,800.0000

[This message has been edited by DAILO (edited 07-10-2000).]

DAILO

Jul 10, 2000, 03:10 PM

PSE Top Issues Traded as of CLOSING

SYMBOL SECURITY PREVIOUS LAST HIGH LOW Change %Change VALUE

SMPH SM Prime Holdings Ltd 5.400 5.400 5.500 5.400 0 0.00% 59,538,200.0000

ALI Ayala Land Inc 5.60 5.80 5.90 5.70 0.20 3.57% 47,400,296.0000

BPC Benpres Holdings Corp 4.30 4.35 4.40 4.35 0.05 1.16% 33,789,300.0000

BW BW Resource Corporation 5.200 5.300 5.400 5.100 0.100 1.92% 28,504,700.0000

AC Ayala Corporation 8 8.20 8.30 8.10 0.20 2.50% 26,008,974.0000

EBC Equitable PCI Bank, Inc. 43.50 43.50 44 43.50 0 0.00% 22,443,500.0000

FLI Filinvest Land Inc 1.940 2.020 2.060 1.940 0.080 4.12% 18,193,400.0000

SLC Sun Life Financial Services of Canada, I 760 775 780 775 15 1.97% 17,590,350.0000

SMC San Miguel Corp 52 52 52 51.50 0 0.00% 15,301,650.0000

PCOR Petron Corporation 1.32 1.34 1.38 1.32 0.02 1.52% 14,452,233.0000

DAILO

Jul 11, 2000, 09:48 AM

GOOD MORNING PEEPS!

Good luck on all your Trades!

GREED IS GOOD! :D :D :D

DAILO

Jul 11, 2000, 10:06 AM

Solidbank board approves swap ratio for merger with Metrobank's First Metro

MANILA (AFX-ASIA) - The board of SolidBank Corp has approved the exchange of 17.5 First Metro Investment Corp common shares for one Solidbank share, Solidbank told the stock exchange.

First Metro is Metropolitan Bank and Trust Co's wholly-owned investment house. Earlier, Metrobank acquired Solidbank's listing on the stock exchange.

Solidbank said the final swap ratio was based on Solidbank and First Metro's comparative book values as of April 30.

Solidbank shareholders in a special meeting last Friday also approved an increase in authorised capital to 8.0 bln pesos from 3.2 bln.

The shareholders also approved the change in Solidbank's primary business to that of investment house and the change of its name to First Metro Investment Corp.

DAILO

Jul 11, 2000, 10:10 AM

Ayala seeks to be "prime mover" in internet economy; building infrastructure

MANILA (AFX-ASIA) - The Ayala group is positioned to be a "prime mover" in the new economy through its investments to speed up internet access in the Philippines, Ayala Corp president Jaime Augusto Zobel de Ayala said.

"There's no doubt in my mind that the wireless access to the Internet, as we move into the near future, will become a very important element of how the average Filipino consumer gains access to the internet," Zobel told a lecture forum.

"Ayala wants to participate in this and wants to be a prime mover and make that infrastructure come alive," he said.

"In that sense, we're really putting base stations throughout the country. "

"The whole infrastructure is being rolled down particularly in the urban areas... That's quite exciting as we move on," he added.

He did not say how much Ayala has allocated for the undertaking.

Ayala Corp earlier said it plans to spend more than 20 mln usd this year on its internet and information technology initiatives through wholly-owned unit iAyala Co Inc.

DAILO

Jul 11, 2000, 10:14 AM

DMCI Holdings Q1 net loss 64.63 mln pesos vs profit of 16.04

MANILA (AFX-ASIA) - DMCI Holdings Inc first quarter to March results:

Net loss - 64.63 mln pesos vs profit 16.04 mln

Revenues - 853.79 mln pesos vs 1.93 bln

Costs and expenses - 936.37 mln pesos vs 1.86 bln

DMCI reported to the Securities and Exchange Commission that the prolonged slump in both the property and construction sectors has slowed down business activity in the company's construction flagship DM Consunji Inc and investment arm DMCI Project Developers Inc.

Construction contracts, which traditionally contribute the largest share of gross revenues, amounted to 704 mln pesos, representing a 57 pct drop from the year-earlier level.

DMCI Holdings said the current consolidation in the oil and gas industry overseas also caused the deferment of most of the expected projects at its 40 pct-owned heavy fabrication subsidiary, Atlantic Gulf & Pacific Co of Manila Inc.

In addition, a further softening of coal prices hampered efforts to boost sa les of 74.4 pct-owned coal mining subsidiary, Semirara Coal Corp.

DMCI said orders shrank to 5.0 bln pesos as of the first quarter amid the slowdown in the construction industry.

However, the order book level is expected to improve with the recent awarding to DMCI of the construction of the two main terminal buildings at Ninoy Aquino International Airport-3, worth 454 mln pesos, and civil works on the Malampaya onshore gas plant, worth 318 mln.

"Judging from first quarter trends, prospects for 2000 do not seem promising. Against this scenario, the company intends to focus on its core construction business mainly to utilize its existing landbank for development into middle-income housing and leisure facilities, particularly sports clubs, " DMCI Holdings said.

DMCI closed up 0.05 pesos at 0.55.

DAILO

Jul 11, 2000, 02:54 PM

STOCKWATCH: DMCI off highs on profit-taking after securing new orders

MANILA (AFX-ASIA) - DMCI Holdings Inc was off its highs, with investors taking profits after a sharp rise earlier on buying likely associated with new construction orders, dealers said.

They said the first quarter net loss reported by the company was expected, given the continued slump in the property sector.

At 10:50 am, DMCI was up 0.03 pesos or 5.45 pct at 0.58 after a high of 0. 62 on volume of 290,000 shares.

The composite index was up 6.97 points at 1,564.54 on 331.2 mln shares worth 369.7 mln pesos.

Dealers said the stock's sharp rise provided some investors an opportunity to cash out.

Vickers Ballas Securities Philippines Inc associate director for sales Eric Santa Ana said DMCI rose after the company recently won major new contracts.

DMCI yesterday said its orders on hand will be boosted by contract awards to build two main terminal buildings at Ninoy Aquino International Airport-3, worth 454 mln pesos, and to undertake civil works on the Malampaya onshore gas plant, worth 318 mln.

DMCI reported a first quarter net loss of 64.63 mln pesos against a net profit of 16.04 mln last year.

KGI Securities vice president for sales Fitz Aclan said DMCI's first quarter net loss had been expected.

"There may just be a buying order, that's why it hit that level," Aclan said, adding that the stock is relatively illiquid at present.

Magnum International Securities Inc analyst Lawrence de Leon said the sustainability of the rise in DMCI is uncertain, with the outlook in the property sector still weak.

"The property sector outlook is very very soft. There is still lack of demand. The construction sector may remain flat or sluggish for the next 6-12 months," de Leon said.

Kidd

Jul 11, 2000, 06:28 PM

Guys, what's your take on our stock market now? Do you feel it's starting to bottom out or are there still a lot of uncertainties?

Personally, am starting to get really excited with the market again. I feel this might be the time to get in good and solid companies while prices are still at their bargain basement levels.

DAILO

Jul 12, 2000, 10:40 AM

Philippine SEC to submit BW Resources investigation report by Monday

MANILA (AFX-ASIA) - The Securities and Exchange Commission will submit by Monday its final report on alleged illegal trading activity in BW Resources Corp shares, although there is a lack of evidence on two issues, SEC prosecution and enforcement department director Elizabeth Martin told AFX-ASIA.

In the report, the SEC will recommend that charges be filed against BW majority owner Dante Tan and his BW co-shareholder Jimmy Juan for alleged price manipulation, she said.

"I have objections on only two items and I think these two charges to my mind are not properly documented," Martin told AFX-ASIA by telephone interview.

She was responding to a newspaper report today which said she finds the entire BW case weak, contrary to her earlier position that the case is strong.

Martin said the areas of the case she finds weak relate to the role of done-through transactions and private placements as performed by brokers involved in the BW case.

"These two acts are not illegal acts per se. They will have to be part of a bigger manipulative scheme to be illegal," Martin said.

Done-through transactions involve brokers placing buy or sell orders with other brokers. Private placements are negotiated purchases of publicly-listed shares.

"There is no doubt in my mind that there is a strong case in all the other issues. I think the SEC will pursue all the other cases except the ones I pointed out," Martin said.

Martin said the SEC is currently completing the documentation needed before filing the report with the Justice Department.

DAILO

Jul 12, 2000, 10:47 AM

Uniwide hopes to conclude debt restructuring talks with BPI soon

MANILA (AFX-ASIA) - Uniwide Holdings Inc said it hopes to conclude debt restructuring talks with Bank of the Philippine Islands soon.

"We have been in continuing discussions with BPI to accept the terms and conditions of the Uniwide group's amended rehabilitation plan as proposed along with the other creditor banks. We hope that we can conclude negotiations with BPI soon," Uniwide said in a notice to the stock exchange.

At 10:11 am, Uniwide was untraded at 0.51 pesos.

DAILO

Jul 12, 2000, 11:11 AM

MacroAsia signs jv agreement with Lufthansa Technik

MANILA (AFX-ASIA) - MacroAsia Corp said it has signed a joint venture and share purchase agreement with Lufthansa Technik AG to form Lufthansa Technik Philippines Inc.

In a disclosure to the Philippine Stock Exchange, MacroAsia said Lufthansa Technik will hold 51 pct of LTP's shareholdings and MacroAsia the remaining 49 pct.

MacroAsia gave no other details.

In June 1999, MacroAsia signed a letter of intent with Lufthansa Technik to establish a joint venture company to operate an aircraft maintenance and overhaul facility in the Philippines.

MacroAsia rose 0.10 peso to 3.55.

DAILO

Jul 12, 2000, 03:19 PM

STOCKWATCH: Megaworld lower on profit-taking

MANILA (AFX-ASIA) - Shares of Megaworld Corp were lower on profit-taking after weeks of sharp gains, amid a strong earnings outlook over the next 2-3 years with five or six projects due for launch this year, dealers said.

At 11:34 am, Megaworld was down 0.02 pesos or 2.06 pct at 0.95 on volume of 34.01 mln shares.

The composite index fell 8.51 points to 1,554.57.

"Over the past three weeks, Megaworld has outperformed the market, coming from 0.69-0.70-peso levels before its runup. So we expected to see some correction," Erwin Balita, an analyst with Securities 2000 Inc, said.

"In the last two to three weeks, (Megaworld) has gained some 20-30 pct, so there's profit-taking now. They have good prospects, especially as they are aiming to launch a lot of projects this year," Dexter Lee, property analyst at Citisecurities Inc said.

Lee said these projects include the IBM Plaza in Eastwood City and residential projects in Metro Manila such as 8 Wack Wack Road in Mandaluyong; El Jardin; Olympic Heights Tower 2; San Francisco Gardens; and Gilmore Heights.

"Megaworld...is launching five to six projects this year due to resilient demand in the middle-income residential sector," Balita said.

The impact of these projects on earnings will be minimal this year, but will be reflected in figures in two to three years, he said.

Lee added that while Megaworld's mass-housing unit Empire East Holdings Inc will still experience earnings difficulties this year due to the slow take-up for some of its projects, the company has positioned itself well for when the sector recovers.

Lee said Megaworld's attempt to reduce its debts to nearly zero by this quarter is also a welcome move.

manabs

Jul 12, 2000, 05:35 PM

Hi Dailo. Is it now possible to trade Filipino stocks online?

DAILO

Jul 13, 2000, 09:43 AM

Good Morning PExers!

Happy Trading today!

GREED IS GOOD! :D :D :D

DAILO

Jul 13, 2000, 09:52 AM

July 12, 2000

Philippines to allow internet providers to offer VOIP services

MANILA (AFX-ASIA) - The National Telecommunications Commission will allow internet service providers to offer voice over internet protocol (VOIP) to customers, NTC common carriers accreditation division chief Edgardo Cabarios said.

The regulatory body is already preparing a draft circular on this.

The technology permits subscribers of internet service providers to talk to people logged on the internet using their computers, telephone connection and other special equipment.

At present, it is illegal for internet providers to offer the service.

"Under the draft memorandum circular, internet service providers must have an agreement with authorised local exchange carriers before they could offer VOIP. Another condition is that they can only get international circuits from authorised international gateway facility operators for their needs," Cabarios said.

Cabarios said the memorandum circular will be released by July.

DAILO

Jul 14, 2000, 10:10 AM

Mabuhay Philippines signs restructuring agreement for 135 mln usd debt

MANILA (AFX-ASIA) - Mabuhay Philippines Satellite Corp has signed an agreement with its local and foreign creditors for the restructuring of more than 135 mln usd in debt, company president Gabriel Pimentel said.

Pimentel said the restructuring plan, which stretches the repayment period until 2007, is already being implemented.

Mabuhay's total debts consist of 55 mln usd owed to local creditors including Philippine National Bank, Equitable PCI Bank, Bank of the Philippine islands, and Metropolitan Bank and Trust Co.

It owes a further amount of more than 80 mln usd from the U.S. Export Import Bank.

Mabuhay Philippines is 61 pct-owned by Philippine Long Distance Telephone Co.

DAILO

Jul 14, 2000, 10:12 AM

DAILO

Jul 14, 2000, 10:17 AM

Megaworld open to new investor in BW Resources

MANILA (AFX-ASIA) - Megaworld Corp said it is open to new investors coming into BW Resources Corp but has not decided whether to divest its stake in the firm.

"Megaworld, however, welcomes any new investor who can infuse fresh capital and add value to BW Resources," it said in a letter to the stock exchange.

Megaworld was responding to earlier newspaper reports it is looking to sell its stake of about 72 pct in BW Resources.

DAILO

Jul 14, 2000, 10:19 AM

Philex shuts down Bulawan milling ops for 2 mths

MANILA (AFX-ASIA) - Philex Mining Corp said unit Philex Gold Philippines Inc will shut down milling operations at its Bulawan gold mine in the central Negros Occidental province for a two-month period.

In a disclosure to the stock exchange, Philex said the shutdown, to take effect July 16 to Sept 15, will mean that about 40 pct of Philex Gold's workforce will have to be laid off.

Upon resumption of normal operations, only 80 pct of the current work force will be required. A voluntary retirement programme will be put in place.

Philex Mining said the current mining operations are being conducted at the south block of the Bulawan deposit which is nearing depletion and has "sub-economic" ore grades.

The company said further development work on the central block of the Bulawan mine is needed to hasten access to better grade ore.

"The temporary shutdown period will allow the mine to focus its efforts on accelerating and completing the development work," it said.

DAILO

Jul 17, 2000, 10:21 AM

Good morning PExers!

How was everyone's weekend? Mine was great!
Good luck in your trades :)

GREED IS GOOD! :D :D :D

DAILO

Jul 17, 2000, 10:24 AM

Mondragon trade suspended on investor entry report

MANILA (AFX-ASIA) - The stock exchange said it has temporarily suspended trading in Mondragon International Philippines Inc shares, pending clarification of a report concerning the possible entry of a new investor.

The Philippine Star over the weekend quoted sources as saying the Sultan of Brunei is set to take over the operation of Mimosa Leisure Estate through the infusion of 2 bln pesos in fresh capital.

The stock exchange said the trading suspension will be lifted 15 minutes after the bank complies with the disclosure rule.

DAILO

Jul 17, 2000, 10:28 AM

SMC, Petron, Meralco approve rehab plan for Urban Bank

Manila -- Financially-trouble Urban Bank is about to get a jumpstart as its three biggest depositors -- San Miguel Corp. (SMC), Manila Electric Co. (Meralco) and Petron Corp. -- approved the proposed rehabilitation plan formulated by the Cojuangco-run Bank of Commerce (Bancommerce).

Under the proposed plan, the three firms are to convert at least 25% of their deposits with Urban Bank and its investment house, Urbancorp Investments, Inc. (UII), into preferred shares, effectively becoming a quasi-equity investor in Bancommerce.

According to the proposal, Urban Bank's big corporate clients must convert at least 750 million Philippine pesos (PHP) of their outstanding deposits into equity stakes in Bancommerce.

The three companies approved the terms and conditions of the memorandum of agreement, the rehabilitation plan and the three-way merger of Bancommerce, Urban Bank and UII, according to a statement from Bancommerce. Bancommerce will be the surviving entity.

At the same time, state pension fund Social Security System (SSS) is being asked to provide PHP600 million in equity to meet the PHP1.65-billion capital needed to rehabilitate Urban Bank. SSS, which has an existing PHP171-million investment in Urban Bank, originally invested PHP286.65 million for its 15% stake in the bank. It has two board seats.

Bancommerce, meanwhile, promised it will shell out PhP300 million to rehabilitate the cash-strapped bank.

The signing ceremony took place last Thursday night at the Rockwell Club in Makati City.

The signatories of the MoA were: Ambassador Jose A. Syjuco, Jr., chairman of Petron; Petron vice-president finance for finance Mario S. Lucas; SMC general counsel and senior vice-president Francis H. Jardeleza; SMC senior vice-president for corporate affairs Alberto A. Manlapit; Meralco president Manolo M. Lopez; Meralco treasurer Rafael L. Andrada; Bancommerce president Raul B. de Mesa; and Bancommerce chairman Antonio O. Cojuangco.

Formal takeover
In a related development, the Philippine Deposit Insurance Corp. (PDIC) and Bancommerce are slated to sign today an agreement for the bank's formal takeover of Urban Bank.

Bancommerce won over Asia United Bank, another bank which bid for the rehabilitation of Urban Bank and its investment house subsidiary.

Bancommerce plans to reopen Urban Bank 30 days after the approval of the rehabilitation by the Monetary Board, the policy making body of the Philippine central bank, or by the first week of September at the latest.

KuyaDanny

Jul 19, 2000, 07:28 PM

Have there been any notable reactions to the SEC report on BW Resources?

DAILO

Jul 20, 2000, 04:36 PM

MARKET UPDATE
July 20, 2000 - Thursday
Philippine Composite Index: DOWN 27.52pts (1.81%) at 11489.97

MARKET HIGHLIGHTS

Worsening investor confidence and overnight losses in Wall street resulted to
broad-market sell-offs. Underlying weakness from the ecopolitical front
intensified further on news that urban terrorsim is the next move from MILF
terrorists which drew military authorities on alert to guard key public
utilities including public transport systems, oil depots, power plants, telecom
centers, etc.. The resulting PNB auction with Lucio Tan as the sole-bidder also
triggered market speculations of foreign investors disappointment led by PNB's
minority holder - Templeton Asset Management to direct a broad sell order in
its exposure in the country.

Increasing belief of NG's dire incapacity to control its ballooning budget
deficit continued to support speculations of an interest rate hike.

Although regional currencies were relatively stable ahead of the speech of US
Fed Chief A. Greenspan tonight, foreign selling in the stock market may increase
near-term demand for US dollars. The peso narrowly moved lower to Php44.56/US$
during the morning trade session from yesterday's close at Php44.51/US$.

The Phisix kept its downtrend momentum, opening lower by 2pts and extending
the drop by 34.78pts before a short rally towards the session's end. The
notable broad market sell-off resulted to increased trade activity with trade
value turnover at Php832.72m, 38% higher than Php602.87m yesterday. There were
10 gainers, 96 decliners and 40 unchanged issues. Trade focus (most active stocks) were on TEL, SMCB, MBT, ABSP, and EBC which altogether accounted for
41% of total market turnover. TEL and SMCB were again the most active issue for
a second consecutive day accounting for 18.5% and 7.4%, respectively, of total
market turnover.

Index-linked stocks breadth had 1 gainer, 24 decliners and 8 unchanged issues.
Index-linked heavyweights that declined were SMPH, ALI, MBT, PNB, ABS, PCOR, BPC
and MERB. Only Ionics gained among index-linked stocks.

Net foreign selling were observed on TEL, SMPH, ABSP, and BPI and AC.

PSE announced that Pacific Cement Corporation (PCC) has changed its name to
Pacific Holdings Inc. and its new trading symbol starting tomorrow is PHI.

Ayala Corporation announced that it is currently in talks with Hormel Foods Inc. of US for a possible investment in Purefoods Corporation (PFC). (AC was
unchanged at 6.60)

NG's asset sale to curtail increased budget deficit now shifts focus on PNCC
with First Philippine Holdings (FPH), the Gatchalian group, and Crown Equities
Inc. (CEI) as prospective bidders. (PNC was up 10% at Php9.0; FPH was down
Php0.50 at 21.75; CEI was down Php0.02 at Php0.45)

PRICE SCAN: MBT - downtrend continues to another new 20-month low at 169
ABSP - on an 9day consecutive downmove at 47.50
SMPH - dropped to a 6.5week low at 4.90
BPC - on a 5day consecutive decline from 4.65 with an intraday low at 4.05
FLI - on a 7thday consecutive drop to record a 6week record price low at 1.68
MERB - on an 8day trend decline with intraday low at 60.0

RECENT DEVELOPMENTS

Crown Equities Inc. (CEI). CEI has long been rumored to be interested to take a
stake in PNCC directly or through its specific road development projects. Its
prospective bid on PNCC points to an anticipated entry of a foreign partner
considering its equity size of merely Php2.1b and with an operating loss of
Php6m as of end-March 2000.

CORPORATE NEWS / MARKET SCAN

Ayala Corporation (AC) - unchanged at Php6.60. AC announced an ongoing talks
for the possible investment of Hormel Foods Corp. of the US in its subsidiary -
Purefoods Corporation (PFC). PFC is a listed subsidiary with Php7.8b in assets and market forerunner in processed meats, poultry, livestock and the feeds
industry. If AC decides to sell 20% to 30% of the firm, the divestment can
readily generate Php1.6-2.3b. MARKET SCAN and PRICE ACTION. AC's potential
sale of part of its ownership to Hormel is likely a precondition for bigger
investment undertaking for PFC. Such development is definitely positive for AC
as it signifies growing belief of multinationals in the management expertise of
AC. Partial divestment on PFC also will be a cheaper alternative than obtaining
new loans for the conglomerates other projects. Long term impact is
theoretically a better ROE. However, today's broad market sell-off
overwhelmed such positive development on AC. AC's price momentum is currently
neutral but toppish as it failed to break key resistance at 7.0. Immediate
price support is at 6.40 with 6.0 as a key support. AC is a recommended
LONGTERM BUY. Trading outlook points to a reentry on the stock below 6.40 with
a recovery objective at 7.20-7.60.

gabbie96

Jul 20, 2000, 05:17 PM

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gabbie96

Jul 20, 2000, 05:20 PM

SPEAKING OF HOT TIPS, WHAT YOU THINK OF THE 1ST TECH STOCK, DFNN.com THAT IS GOING TO IPO THIS MONTH, THAT DIDNT GO THROUGH THE BACKDOOR? good pick? worth investing in or not?

DAILO

Jul 24, 2000, 02:16 PM

MARKET UPDATE
July 24, 2000 - Monday
Philippine Composite Index: DOWN 1.66pts (0.11%) at 11477.80

MARKET HIGHLIGHTS

Trade activity was significanly low at Php495.96m (down 48% from Friday's
turnover) as investors expectedly held back trade action to reasses President J.
Estrada's state of the nation address (SONA) this afternoon. The market decline
in Wall Street (-1.02%) and Nasdaq (-2.2%), and a parallel weakness in key Asian
markets (Hang Seng -0.5% by midday) kept the prevailing bearish sentiment
intact.

The peso narrowly moved lower at Php44.51/US$ during the morning trade session
from Friday's close at Php44.40/US$. The Central Bank reported that the country's balance of payment surplus for the first four months amounting to
US$803m exceeded its target at US$420m. Budget Secretary B. Diokno also
reported that the budget deficit will likely be adjusted accordingly to Php85b
from its programmed deficit of Php62.5m. Focus now keenly shifts on the SONA
for indicative adjustments on the country's fiscal and monetary thrusts which
could provide direction on key interest rates and foreign exchange.

The Phisix narrowly ranged at +2.42pts / -9.71pts. Breadth of the market
remain weak with 24 gainers, 48 decliners and 42 unchanged stocks. Trade focus
(most active stocks) were on TEL, SMCB, MBT, SLC, JFCW, MERB, BPI, and AC which
altogether accounted for 72.4% of total market turnover. SMCB and TEL were
again the most active issue for an intriguing fourth consecutive trade session
accounting for 28.4% and 14.02%, respectively, of total market turnover.

Selling pressure was more extensive among index-linked issues as there were 5 gainers, 18 decliners and 10 unchanged stocks. Index-linked heavyweights that
declined were AC, TEL, SMC, JGS, MER, ABS and PCOR. Gainers include SMPH, EBC,
PNB, ION and CMP.

Net foreign selling were observed on TEL, MERB, JFCW, and BPI. Domestic small
cap interest were on GEI (up Php0.04 to Php0.58), MUSX (up Php0.1 to Php5.30)
and ION (up Php0.50 to Php12.50). Market speculation on GEI points to a
potential backdoor listing of an IT firm or a substantial equity investment in a
new technology firm. Local investors joined a speculative play on Music Corp.
as foreign broker buying emerged anew led by Merril, Wicarr and SG. Ionics
continues to be one of local favorite given its Philips contract and its ongoing
negotiation with a foreign partner for a mould manufacturing plant which will
complement its CDW order. Ionic's listed subsidiary in Singapore - ION EMS
gained anew in morning trade to Sing$0.61or Php15.50/share.

The PSE lifted its suspension notice on Atlas Consolidated Mining and
Development Corporation (AT) and Medco Holdings (MED) given its settlement of
fines imposed.

The PSE issued a suspension on Philippine National Construction Corporation
(PNCC) given its non-compliance with the structural reportorial requirements.

The PSE lifted its suspension notice on CMP Homes (CMP) after it submitted its
FY1999 and 1Q2000 financial statements.

PRICE SCAN: SMPH - share price recovered after a 6day decline to close at
Php5.0
EBC - on an 11day uptrend to set a 26day high at Php50.0
ICT - dropped to an 8yr low at 1.12 before closing unchanged at 1.16
MPC - on a 7day trend decline at 0.62

RECENT DEVELOPMENTS

Music Corporation (MUSX). Music Corporation informed the PSE that it posted a
loss of Php21.22m in the first three months of the year. Revenues for the first
quarter increased 49% from Php156.7m to Php232.88m. Music's first quarter
operating performance has long been reported to the market. We do not expect
any valuation changes as most of the positive developments particularly its
steady decline in operating losses have been factored into. MUSX was up Php0.1
to Php5.30

Meralco (MER/MERB). A handful of Meralco employees staged a labor strike last
Friday demanding increased job security and benefits. The Department of Labor and Employment (DOLE) has already issued a return to work order last Saturday -
July22nd. Meralco's efficiency thrust announced last year includes a programmed
14% cut in workforce beginning 1999 by virtue of natural attrition and an offer
for early retirement. We do not expect any violent or long labor-management
dispute to affect operations. MERB was down Php0.5 to Php59.50

Metro Pacific Corporation (MPC). MPC's bid for Lot A(2ha for office and
entertainment), Lot B (8.54ha for hotel/condominium and museums) and Lot E (10ha
information technology special economic zone) in Fort Bonifacio is under review
and will likely be finalized by BCDA before end-August. So far, they are the
sole bidder for Lot A and E while it is a joint bidder with SM Investment
Corporation for Lot B. MPC was down Php0.02 to Php0.62

Philippine National Bank (PNB). The Templeton Asset Management denied
newsreports that it sold its 12% stake to Citigroup. PNB closed higher by Php2.0 at Php58.0

CORPORATE NEWS / MARKET SCAN

La Tondena Distillers Inc. (LTDI). The company reported an 83% increase in net
earnings of Php794m for the first six months of the year. Revenues for the
period grew 39% from Php5.03b to Php7b. MARKET SCAN and PRICE ACTION.
Indications from the first half report reflects an expected slowdown in profit
growth from a 125% increase in 1Q2000 to 57% in 2Q2000. Revenue growth however
continues to improve further from a 33% growth in 1Q2000 to 44.5% in 2Q2000.
Details of the LTDI's operational progress will be reported tomorrow in its
2Q2000 briefing. Market focus will be on a possible downward adjustment in
sales volume growth target after the recent Luzon flooding and on the operating
performance and outlook of its newly acquired subsidiary - Sugarland. Share price momentum is declining from overbought levels with significant room for
the downturn. Key price support levels are at 32/30. A 3wave upmove scenario
may have peaked at 35 which puts a risk for a downturn to test the 29/26 level
over the medium-term. A more bullish 5wave scenario warrants a consolidative
test with 29 as a firm support but with a possible upmove break of 35 with 38 as
its minimum objective. LTDI remains a rated BUY unless operating signals from
tomorrow's company briefing support a slower-than expected 2H2000 revenue
growth.

DAILO

Jul 26, 2000, 03:09 PM

MARKET UPDATE
July 26, 2000 - Wednesday
Philippine Composite Index: DOWN 3.27pts (-0.22%) at 1478.33

MARKET HIGHLIGHTS

Underlying bearish sentiment kept share prices lower despite overnight gains
posted in Wall Street 0.14%) and Nasdaq (1.21%). Yesterday's 3.4% oil pump
price hike and a new wave of regional currency weakness which pushed the peso
exchange rate to a high of Php45.0575/USD in morning trade worsened investors
fears.

Trade activity marginally improved to Php479.275m from yesterday's alarming
trade of Php341.009m. The Phisix trended lower with today's range at +3.29pts /
-5.99pts. Key indices were mixed as oil and mining shares gained while the C-I's, finance and property indices headed lower. The market had with 38
gainers, 35 decliners and 47 unchanged stocks. Trade focus (most active stocks)
were on ION, MBT, SLC, ABSP, SMCB, TEL, SMC, and MUSX which altogether
accounted for 59.3% of total market turnover. ION and MBT accounted for 12.3%
and 8.2%, respectively, of total market turnover.

Positioning interest among index-linked issues were narrower as there were 7
gainers, 7 decliners and 19 unchanged stocks. Index-linked heavyweights that
declined were AC, TEL, MBT, SMPH, ABS, BPC and BEL. Gainers include TEL, FDC,
ION, EBC, MER, LTDI and DMC.

Net foreign selling were observed on MERB, SMPH, MBT, TEL, and ABSP.
Investor's focus among secondliners were on MUSX, EBC, ION and BW.

EDSA Properties Holdings Inc. (EPHI) informed the exchange that it passed the following resolution subject to shareholders approval:

1. AUTHORIZE THE ACQUISITION OF THE EQUITY AND ADVANCES OF KUOK PHILIPPINE
PROPERTIES, INC. ("KPP") IN KSA REALTY CORPORATION (KSA) REPRESENTING
23.52% OF KSA ISSUED AND OUTSTANDING CAPITAL STOCK IN EXCHANGE FOR SHARES
TO BE ISSUED FROM THE INCREASE IN ITS AUTHORIZED CAPITAL STOCK UNDER TERMS
AND CONDITIONS REASONABLE AND IN THE BEST INTEREST OF THE CORPORATION.

2. AUTHORIZE THE AMENDMENT OF THE ARTICLES OF INCORPORATION TO REFLECT THE
INCREASE IN AUTHORIZED CAPITAL STOCK FROM P2,050,000,000.00 UP TO
P4,500,000,000.00 WITH A PAR VALUE OF P1.00 PER SHARE AND OUT OF SUCH
INCREASE, TO ISSUE SHARES TO KPP IN EXCHANGE FOR THE LATTER'S EQUITY IN
KSA; DENIAL OF SHAREHOLDERS' PRE-EMPTIVE RIGHTS; AND INCREASE IN THE NUMBER
OF DIRECTORS FROM 10 TO 11.

Kuok Philippine Properties, Inc. (KPP) informed the PSE that its Board passed
the following resolutions:

1) AUTHORIZE THE SALE AND/OR TRANSFER OF KPP'S EQUITY IN EDSA
PROPERTIES HOLDINGS, INC. TO A CONTROLLED SUBSIDIARY UNDER
TERMS AND CONDITIONS REASONABLE AND IN THE BEST INTEREST OF
THE CORPORATION

2) AUTHORIZE THE ASSIGNMENT OF ITS EQUITY AND SHAREHOLDERS
ADVANCES IN KSA REALTY CORPORATION TO ITS AFFILIATE, EDSA
PROPERTIES HOLDINGS, INC. (EPHI), IN EXCHANGE FOR SHARES TO
BE ISSUED FROM THE INCREASED CAPITAL STOCK OF EPHI AT A
PURCHASE PRICE TO BE AGREED UPON BY THE PARTIES

3) AUTHORIZE THE SALE OF OTHER ASSETS IN MACTAN, CEBU AND
THE EQUITY OF ITS WHOLLY-OWNED SUBSIDIARY, KPPI MANAGEMENT
AND SERVICES CORP., IN TAISHAN INSURANCE BROKERS PHILS., INC.
AND KRM REINSURANCE BROKERS PHILS., INC.

PRICE SCAN: ION - reached a 5month high at 14.50
PCOR - on a 4day consecutive upmove from 1.18 to 1.30
TEL - decline to 735 is a 34day low
EBC - uptick continues for a 13day uptrend, setting a 28day high at Php52.50
ABS - on a 12day trend decline to set a 27day record low
ABSP - price downturn now on a 10day trend at Php47.50

RECENT DEVELOPMENTS

San Miguel Corporation (SMC). Indicative reports show a strong 2Q performance
by SMC. Anxiety over potential revenue and sales target downgrade in 2H2000 due
to the oil price hike and the flood damage remains unlikely as preliminary sales
reports for the first week of July remains consistently strong. Key impact will
be realized sometime mid-August. (SMC closed unchanged at Php51.0; SMCB closed
unchanged at Php52.0

SM Prime Holdings (SMPH) / Ayala Land Inc. (ALI) / Robinsons Land Corp (RLCB).
Seventeen Congressmen filed a petition with the Supreme Court (SC) for the
repeal of retail trade liberalization act given its violation of the
constitution. Cited were violation on: a) preferential use of Filipino labor,
b) preferential rights of operation of wholly owned Filipino enterprise, c)
economic protectionism, d) and non-alienation of natural resources. (SMPH
closed lower by 0.05 at Php4.95; ALI closed unchanged at Php5.5; RLCB was not traded at Php2.26)

Petron Corporation (PCOR) Petron effected a Php0.55 oil price hike yesterday.
PCOR closed Php0.06 higher at Php1.30

Ayala Corporation (AC) / Globe Telecoms (GLO). Ayala Corporation announced its
issance of Php2-3b worth of 5year notes to finance its capex program this year.
AC will allocate Php15b of its Php20b programmed capex for Globe Telecom's
technology investment. (AC declined by Php0.1 at Php6.50; GLO gained Php0.25 at
Php15.50)

CORPORATE NEWS / MARKET SCAN

La Tondena Distillers Inc. (LTDI). - up Php0.50 to Php32.50. Some highlights of LTDI's investor's briefing yesterday were:
a. strong 1H sales volume growth: hard liquor at 18%, bottled water at 85% and
14% for rtd juice
b. hard liquor market share increased from 50% to 57%
c. newest subsidiary - Sugarland is now the second biggest profit contributor
with sales volume
up 30%; and
d. 1H sales grew 39% yoy to Php7b; operating income up 48% to Php1.5b and net
income up
83% at Php794m.
MARKET SCAN and PRICE ACTION.Results were largely within market estimates.
Market fear of a slowdown in 2H2000 sales were dismissed by Management as liquor
sales remains favorable for the first two weeks of July. Its market penetration
penetration strategy and its newly launched promo campaign (Ginebra Bingonaryo)
was notably successful. The expected slowdown in profit growth (125% in 1Q to 57% in 2Q) was within market consensus and reasonable. Revenue growth was
better than expected (up 44.5% in 2Q from 33% in 1Q). Net margins were
effectively lower in 2Q but we do not expect further significant deterioration.
Market watchers are not expected to downgrade its BUY rating on the stock based
on the recent operating report. Price and momentum trend is declining bu
momentum remains far from oversold status. Reversal signals are not evident
which puts key price support at 30.50/29.0. Breakout wave trend from its recent
high at 35 (key resistance) remains unlikely unless further lows are set.
Medium-term target
to approximate 37/42.

Ionics Circuits Inc. (ION)- up Php1.0 to Php14.0. The Company reported it has
finalized its search for investment partners for its manufacture of high
precision injection molded engineering plastic products. Ionics formed a new
subsidiary - I Omni with the following partners: Omni Mold Ltd. of Singapore, The Tech Group of US and ICC Ventures Inc. of the Philippines. I Omni's molded
products will effectively increase local content of products manufactured by
Ionics. Net impact is an increased margins from product orders and an expanded
market given its expanded manufacturing capability. Marginal increase in profit
target for 2001 and 2002 will likely be upgraded. MARKET SCAN and PRICE ACTION.
Foreign buying was evident but today's volume were largely from local houses.
Price momentum is toppish at current levels. Increased pressure for a price
correction points to a price support at 13.50/11.75. Price-momentum divergence
is getting more profound to warrant a sell on rally based on a trading action.
Minor wave extension to 15.50 is possible.

DAILO

Jul 27, 2000, 03:10 PM

MARKET UPDATE
July 27, 2000 - Thursday
Philippine Composite Index: DOWN 29.43pts (-1.99%) at 1448.90

MARKET HIGHLIGHTS

Weaker peso, a slumping regional market performance and increased domestic
ecopolitical worries resulted to another wave of a broad sell-off as none of the
index-linked stocks posted a gain. Investor anxiety over domestic worries
towards higher inflation, economic recession potential and a seemingly poor
corporate profit outlook for 2H2000 are pushing investible funds away from the
equity market.

The peso exchange rate soared anew to a high of Php45.12/USD in morning trade
despite the Central Bank's comment of a likely intervention.

Trade activity reflected investor fears as turnover increased (at Php590.574m
from Php479.275m yesterday) as prices trended lower. The Phisix stayed on
negative territory dropping by as much as 32.95pts ir 2.23%. Key indices were
mostly lower with only the oil index reflecting a minor gain. Sell-off was
apparent as there were merely 10 gainers against 74 decliners and 31 unchanged
stocks. Trade focus (most active stocks) were on TEL, BPI, BPC, SLC, MBT,
ABSP, AC and SMCB which altogether accounted for 54.9% of total market turnover.
TEL and BPI accounted for 9.83% and 9.7%, respectively, of total market
turnover.

Index-linked issues were heavily sold down as there were no gainers, 22
decliners and 11 unchanged stocks. Index-linked heavyweights that heavily pulled
down the index were TEL, ALI, AC, ABS, SMPH, EBC, and BPC. Top percentage decliners among index-linked stocks were: DGTL (-7%), FDC (-6%), AEV (-5%), FLI
(-4.8%) and MEG (-3.5%).

Net foreign selling were observed on TEL, BPI, MBT, ALI, GLO, BPC and EBC.

PRICE SCAN: TEL - gap down today (720/735); low at 700 is a 46day low
ALI - gap down today (5.40/5.50); low at 5.20 is a 37day low
BPC - low at 3.95 is a 31day low
BPI - low at 67 is a 22month low
MBT - low at 164 is a 22month low
AEV - low at 1.46 is a 16month low
MEG - low at 0.82 is a 29day low on a 13day downtrend
ABSP - gap down today (47.0/47.5)price downturn now on a 30day low at 45

RECENT DEVELOPMENTS

Globe Telecoms (GLO). The Company confirmed newsreports of its planned issuance
of 12m philippine depositary receipts (PDR). Globe's PDR issuance has long
been strategically announced by the company in its investor briefing last
1Q2000. (GLO closed Php0.25 lower at Php15.25)

JG Summit Holdings Inc. (JGS). JG Summit released to the PSE its confirmation
of a news article citing JG Summit Chair J. Gokongwei of an estimated net profit
of Php1b for the first six months of the year. Financial details are not yet
available.(JGS closed Php0.10 lower at Php3.0)

Digitel (DGTL). Digitel informed the PSE that preliminary estimates point to a
net profit of slightly over Php2m in 1H2000. (DGTL closed Php0.05 lower at
Php0.64)

SM Prime Holdings (SMPH). Company officials commented that the newly passed
retail trade liberalization act will benefit occupancy of its upcoming malls.
Market fears of its negative impact on existing malls was downplayed since bulk
of its existing malls are nearly at full occupancy rate. (SMPH closed lower by
Php0.10 at Php4.85)

CORPORATE NEWS / MARKET SCAN

San Miguel Corporation (SMC at Php51.0; SMCB at Php52.0). SMC released the
following 1H2000 operating results this afternoon prior to its scheduled
investor briefing: net profits increased 25.6% to Php3.4b; revenues increased
13% to Php42.4b. (Details of the investor briefing will follow tomorrow) MARKET SCAN and PRICE ACTION. Preliminary review reflects operating results staying
within market estimates. SMC's 2Q2000 performance reflected a surge in revenue
(estimated at 17% from 8.7% in 1Q2000) and profit (27.3% in 2Q2000 vs 24% in
1Q2000) growth. SMC officials are confident that they are on-line with their
benchmark targets. Potential upgrade in earnings outlook is unlikely as its
strong performance is within market expectations. Fundamental rating for SMC
remains a LONG-TERM BUY. Underlying overhang comes from a perceived price
inaction until the sale of 27% stake of the coco levy fund is completed. There
are also lingering fears that a protracted agricultural sector growth in 2H2000
may affect beverage sales. SMC's thrust on its organizational streamlining and
synergies are unlikely to generate a huge bottomline impact this year. SMC's
price range is relatively less volatile on perceived steady buying support from
E. Cojuangco's group. Bulk or 53% of today's buying transaction came from UCPB
and Merril. Price momentum is declining but entering oversold status. Key
reversal signals have yet to be confirmed on further price upmove. Immediate price support (SMCB) is at 50.50/49.50 with 48.0 as its key support. So far,
its key support at 48.0 seems firm and provides a perceived bottoming-out
scenario near this level. Key resistance is at 54/56.

Belle Corporation (BEL) - closed unchanged at Php0.95. Belle Corporation
confirmed news reports that it is set to dispose non-productive assets,
including its interest in MagiNet. MARKET SCAN and PRICE ACTION. Belle
continues to suffer from the its huge loan buildup and a parallel property
market slump since in 1997. Unprofitable investments in Philcom, Sinophil and
Legend have forced the firm to move for debt restructuring given its outstanding
liabilities amounting to Php18.95b as of 1Q2000. Bullish play on the issue
given the rumored potential increase in board representation of SSS and Henry Sy
and the programmed IPO of its jai-alai venture has hopelessly faded. Expected
string of asset disposal is unlikely to regain interest on the stock as none of
its core property business is likely to turnaround bottomline numbers. Highly leveraged firms and its core business focus in the property sector clearly puts
Belle among the equity to avoid. Debt rehabilitation will definitely take a
long time. Belle's shares are among the active speculative stocks this year
given its price range of Php0.71-4.40. Momentum signals reflect no key reversal
indication yet but a 3wave downmove scenario hints of a possible bottoming-out
scenario. Key price support is at 0.90/0.82 with 0.71 likely as a firm bottom.
Immediate price resistance is at 0.99 with 1.10/1.24 as its immediate fibonacci
price target.

DAILO

Jul 28, 2000, 03:50 PM

MARKET UPDATE
July 28, 2000 - Friday
Philippine Composite Index: DOWN 11.82pts (-0.81%) at 1437.08

MARKET HIGHLIGHTS

Noticeable foreign selling on select index heavyweights and expectations of a
likely disappointing 2Q2000 profit results on PLDT and Meralco further dragged
the index lower. A slew of bearish factors gave investors certainty of index
going south: a) the resurgence of the peso's weakness from yesterday
afternoon's mild recovery further continues with peso dropping to Php44.99/USD
from yesterday's close at Php44.875/USD, and b) reeling regional market weakness
continues with HSI down 1.9% at midday.

Increased trade activity as share prices further dip confirms investor's lingering fears. Trade value turnover increased to Php713.264m from
Php590.574m yesterday. The Phisix opened 3.6pts lower and fell to as much as
18.73pts or 1.29% before staging a mild recovery toward the session's end. Key
indices were mostly lower with only the mining index staying positive.
Decliners continue to swamp gainers 27:42 with 38 unchanged stocks. Trade focus
(most active stocks) were on PNB, TEL, MBT, and ABSP which altogether accounted
for 58.7% of total market turnover. PNB and TEL accounted for 29.1% and 16.3%,
respectively, of total market turnover.

Foreign selling on PNB took centerstage with ING as net seller and accounted
for 81% of today's transaction. Market speculation points to the disgruntled
Templeton Asset Management as the likely seller. With Templeton holding a 12%
stake, local players joined the sell-down on expectation that PNB's share price
may dive further as the sell-down may take several weeks to complete.

Sell-off pressure among index-linked issues marginally eased from yesterday's
surprising no gainers as there 4 gainers, 15 decliners and 14 unchanged stocks.
Index-linked heavyweights that gained were AC, SMPH, ABS and MEG. Decliners
were TEL, PNB, ALI, MERB and MBT. Top percentage decliners among active
index-linked stocks were PNB (19.3%) and TEL (2.8%).

Net foreign selling were observed on PNB, TEL, BPI, ALI, SMPH, FLI and BPC.

PRICE SCAN: PNB - gap down on open at 59.50/59.0
TEL - 2nd consecutive gap down today (710/700); low at 685 is a 47day low
BPI - low at 66.5 is a new 22month low
MBT - low at 161 is a new 22month low
ICT - record low set at 1.08 since the IPO week in 1992 with 1.03 as the
all-time low
FLI - gap down at 1.60/1.56 on open with its intraday low at 1.52 at a 39day
low

Imperial Resources Inc. (IMP) announced its first venture into information
technology with itsh acquisition of a majority stake in Web Link Phils. Inc. via
a share swap. Web Link is a noted pioneer in IT based in Davao City but has
since expanded to include key major cities including Manila.

The PSE announced that Belle Corporation complied settled its penalties with
PSE and will therefore not be suspended on Monday.

Business news reports cited Benpres Corporation for its planned US$700m fund
raising program for its mobile, toll road, power generation and water distribution expansion plans over the next two years.

RECENT DEVELOPMENTS

Philweb Inc. (WEB) reported that 260 participants attended its first ever
E-business symposium. Highlight of Philweb's business symposium was the signing
of a 10,000 computer unit supply agreement with IBM Philippines. The computers
are intended for the 1,450 internet caf. sites that is due to be established
nationwide.

CORPORATE NEWS / MARKET SCAN

Meralco (MER/MERB) - MERB was down Php1.50 at Php59.50. Meralco reported that
1H electricity sales increased 8.3% with residential at 11%, commercial at 8.4%
and industrial at 4.9%. MARKET SCAN and PRICE ACTION. The 1H2000 sales report reflects a slowdown in electricity sales in 2Q which is slightly below market
estimates. The effective 2Q2000 sales reflects a decline of 7.3% from 9.3% in
1Q2000. It is quite alarming for our 2H2000 outlook since industrial sales and
commercial sales registered a slowdown. Since Meralco posted a 27% profit
decline in 1Q2000 on higher electricity sales, it is rationale to anticipate a
disappointing 2Q2000 profit report. Major brokerage houses are therefore likely
to downgrade its profit target. Price momentum is declining with immediate
price support at 59.0 with next key support price at 56.0. Risk at 56.0 is open
but expect a bottoming-out trend over the near-term given an existing
price-momentum divergence signal. Immediate resistance is at 62.0/65.0.
Downward channel remains intact with the trend break at 62.0.

Global Equities Inc. (GEI) - down Php0.15 to Php0.38. GEI disclosed its 3way
partnership with Systems Standards, Inc. (SSI) and Systems Technology Institute
(STI) via a swap of 60% of GEI to the 100% of SSI/STI. SSI is an IT solutions provider with a recorded asset size of Php235m and Php14.2m in profits for the
first 3months of the year. STI is one of the country's leading IT school with
an asset size of Php514m
and Php65m in net profits for the first 3months of the year. MARKET SCAN and
PRICE ACTION. Market rumors proved to be true but the resulting market sell-off
on news today was quite surprising. We may attest the sell-off given the
market's overal weakness. Initial financial details warrants a second look.
The combined asset size of GEI (Php2.85b) with SSI (Php235.16m) and STI
(Php513.887m) amounts to approximately a Php3.6b holding firm. Based on SSI and
STI's equity size of Php470m, the deal equates GEI giving up 60% stake for an
effective equity contribution of merely 25.8% of the total or a 132% premium
unless otherwise an equity revaluation or capital hike is due prior to the
stockholders approval. We are therefore looking forward to get further details
of the 3way deal which will likely be released prior to its September 8th
stockholders meeting. GEI remains rated SPECULATIVE until further release of financial details. Broadly taken, IT ventures are really demanding an
exhorbitant premium vis-a-vis old economy firms. Several issues now befall GEI
that will attract investor action: a) entry to the IT category or the new
economy, b) new partners are profitable (SSI and STI registered profits of
Php14m and Php64m, respectively in the past year) which will negate GEI's
current non-profitable property-based operations, and c) valuations are
attractive given the significant rise GEI's effective book value. Speculations
on GEI's entry to the IT field pushed share prices to a high of Php1.34 early
this year which is approximately 2x is original book value. GEI's oversold
momentum status and its hefty 91% technical price retracement at 0.37 heightens
pressure for a recovery. With near-term risk satisfied we are now in search for
a potential price consolidation buildup for a renewed rally. Recent violent
downturn however makes it too premature to justify a bullish posture. Key
support levels are at 0.37/0.28 with key upmove breakout to be confirmed at 0.50
with 0.69 as its intermediate target. Upmove extension at 0.85 points to a medium-term upmove objective at 1.04. Our broker scan show that today's huge
seller was not among the major buyers the past two months where the moving
average is pegged at 0.68. Lack of follow-through selling on heavy volume over
the next few days can therefore spark a volatile rally.

DAILO

Jul 29, 2000, 02:39 PM

Ayala and MeetChina.com discuss Philippine portal

B2B e-commerce platform MeetChina.com and iAyala, the internet holding company of Ayala Corporation of the Philippines have agreed to study the feasibility of launching a MeetPhilippines.com website to enable buyers to source and purchase raw materials and finished products from Philippine-based companies. The Ayala Group is the Philippines most diversified conglomerate.

If launched, the site would be San Francisco-based MeetChina.com’s first venture outside China.

iAyala has access to millions of Philippine consumers and suppliers through its parent’s subsidiaries and affiliates which include the Bank of the Philippine Islands, Ayala Land, Globe Telecom and Purefoods.

JDELEON

Jul 31, 2000, 12:14 AM

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Check out www.marketocracy.com. (http://www.marketocracy.com.)

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DAILO

Jul 31, 2000, 10:03 AM

Manila shares outlook: Mixed to lower amid lack of positive leads

MANILA (AFX-ASIA) - Share prices are expected to open mixed to lower amid a lack of fresh positive domestic leads, with investors seen awaiting a cue from other regional markets, dealers said.

They said losses are likely to be limited, however, by the market's oversold condition.

The composite index closed down 11.82 points at 1,437.08 on Friday.

Wise Securities Inc analyst Jose Vistan Jr said the Tokyo market's weaker opening this morning could dampen buying interest in the local market.

"The weak opening of the Japanese market could stall any technical rally, " Vistan said.

"The lack of domestic leads will prompt the market to seek direction from other Asian markets. In this case, we see the market moving sideways to lower, " he said, adding that he expects the volume to remain weak.

Vistan said the stronger performance of some corporates, particularly San Miguel Corp, has been largely discounted, and is not expected to support the market.

Anscor-Hagedorn Securities analyst Aaron Genota said the market is likely to move sideways with a bias towards the 1,400-point level.

"Save for technical reasons, there is yet no compelling reason why the market should start heading in the reverse direction," Genota said.

He said investors are likely to look for more signs that the manufacturing sector is beginning to pick up.

"Apart from low consumer confidence, what's more problematic is eroding investor confidence," he added.

DAILO

Jul 31, 2000, 03:15 PM

MARKET UPDATE
July 31, 2000 - Monday
Philippine Composite Index: DOWN 19.98pts (-1.38%) at 1417.17

MARKET HIGHLIGHTS

Bearish news on all major market drivers: 1) weak 2Q2000 corporate earnings
release, 2) the drop in US and Asian equity markets, 3) the peso's steady
decline, and 4) an indicatively large flows of foreign sell orders on major
blue-chip issues. All shares index outpaced the Phisix as it dropped 1.6%!
Market fears intensified on worsening investment climate outlook which imprints
a view that the index can easily go lower than our recent market bottom set last
May (1376) - a nearterm benchmark for market sentiment after the release of
disappointing 1Q2000 corporate performance. Lack of investment market
confidence are clearly pushing sellers to be more aggressive as buyers continue to remain selective and unassuming.

The peso weakened to Php45.075/USD during the morning trade session from
Friday's close at Php44.86/USD

The observed growing fears from last week's increased trade activity as share
prices further dip. Trade value turnover increased to Php1.373b but with
transaction crosses of Php885m on EPHI and Php79.6m for DMCP. Excluding EPHI
and DMCP transaction, net trade turnover is effectively Php408.4m which clearly
keeps bargain-hunters sidelined on expectation of likely further price weakness
despite attractive valuations.

The Phisix trended lower at its intraday range of +132pts / -23.38pts. Key
indices were mostly lower with only the oil index staying unchanged. Decliners
continue to swamp gainers 65:19 with 32 unchanged stocks. Trade focus (most active stocks) were on EPHI, TEL, DMCP, SMCB, MBT, and MERB. EPHI accounted for
total market turnover on trade crosses related to its acquisition of a 23% stake
in KSA Realty Corporation. The effective foreign investor sell-off on key
blue-chip issues continues as there were mere 4 gainers, 19 decliners and 10
unchanged stocks. Index-linked heavyweights that gained were MBT, BPC, ICT and
LND which were largely attributed to domestic buying. Decliners were TEL, AC,
EBC, ALI, MER, MERB, SMC and SMCB. Top percentage decliners among active
index-linked stocks were TEL (-2.9%), EBC (-2.9%), MERB (-2.5%) and BPI (-2.2%).

Net foreign selling were observed on TEL, SMCB, MERB, AC, BPI, SMPH, ALI.

PRICE SCAN: TEL - 3rd consecutive gap down today (690/680); low at 660 is a
5.5yr low
BPI - low at 65.5 is a new 22month low
WEB - low at 0.0975 is a 25week low
PLTL - new record low set at 0.88
GEI - 7week low set at 0.37

The PSE lifted the likely trade suspension warning on MRC, SINO and PMT on
compliance of PSE reportorial requirements and settlement of penalty fees.

LATE NEWS: TBill Auction Results: 91day - up at 8.925% from 8.919%
182day- unchanged at 10.0%
364day - up at 11.176% from 11.01%

RECENT DEVELOPMENTS

Digital Telecom Phils. (DGTL). Digitel Chair J. Gokongwei is keen towards
taking full control of Eastern Telecommunications Phils. Inc. (ETPI). Digitel
expects to complete its buyout for majority control by August 2000. (DGTL was
unchanged at Php0.64)

Equitable Bank Corporation (EBC). EBC officials confirmed ongoing talks for a
potential sale of 6% to 20% stake of the bank to a Taiwanese bank. (EBC was
down Php1.50 at Php50.0)

JG Summit Holdings Inc. (JGS). The Gokongwei group maintains firm interest to
participate in the government's bid to dispose its 89% stake in PNCC for
approximately Php30b. (JGS was down Php0.10 at Php2.90)

Petron Corporation (PCOR) - Petron announced plans to issue US$120m 3year notes
to finance its capital expenditure program. Current market estimates point to a
rate of 110 basis points higher than LIBOR. (PCOR was unchanged at Php1.24)

Mondragon (MON). A business daily cited the removal of J.A. Gonzales as chair
of Mondragon with ex Finex president J. Camba as the likely replacement as
endorsed by the PentaCapital Group. (MON declined Php0.03 at Php0.69)

Metrobank (MBT). Metrobank posted a 28% decline in net profits for the first
six months at Php1.4b. MBT's 2Q2000 profits declined 47% yoy to Php535m. Lower
margins and the expected one-off integration costs will result to a lower
rerating. Metrobank officials however dismissed market risk estimate of profits
of merely Php2b this year as realistically low! On the other hand, MBT's
separation package for Solidbank employees was one month for every year of service for those that will be absorbed by Metrobank, and 1.5months for
employees that will not be absorbed. The package is cost positive for MBT given
initial rumors of a 3months for every year of service. (MBT was up Php3.0 at
Php167.0)

Global Equities Inc. (GEI). GEI Chair Nora Bitong indicated the following to a
major business daily: 1) a change of corporate name is due to reflect its new
IT partners, 2) GEI will invest Php200m in the IT venture, and 3) a capital hike
will be due with a rights offer at par of Php1/share. (GEI was unchanged at
Php0.38)

RFM Corporation (RFM). RFM reported a net loss of Php9m for 2Q2000 on sales
growth of 7.4% at Php3.9b.
This is a disappointing operating results from a Php60m profit in 1Q2000. (RFM
was down Php0.10 at Php1.90)

CORPORATE NEWS / MARKET SCAN

Jollibee Foods Corporation (JFC). JFC reported a 1.5% yoy drop in profits for
the first half of Y2000. Operating costs and expenses outpaced revenue growth
18.4% versus 16.5% s for the period. MARKET SCAN and PRICE ACTION. JFC's
1H2000 financial results translates to an improved 2Q2000 performance but is
generally within market estimates. JFC's 2Q2000 revenues were higher given the
price adjustment. 2Q profits increased 1.9% yoy as against a 5% decline in
1Q2000. The improvement is largely due to the contribution of Chowking in its
bottomline numbers. However, Chowking's revenue growth slowed down from 15% in
April to merely 10% by end-June. Pizza chain affiliate - Greenwich Pizza Corp
(GPC) posted a faster decline in revenue growth from a 5.5% decline in 1Q% to
12.% by 2Q2000. The economic slump is effectively pulling fastfood revenues lower as personal consumption and spending declines. However, JFC's dominant
consumer play, a proven brand, low leverage and continued expansion plans
warrants a HOLD. We do not expect a sizeable profit adjustments given the
2Q2000 performance and the 2H2000 consumer risks. Price momentum is declining
with key support viewed at 11.0 /10.0. Further price weakness is expected as
momentum signals remains at neutral level and has a lot of downside to reflect a
recovery. Immediate resistance at 12.25 with breakout trend at 13.50. Reassess
entry targets and indicators on a downmove below 11.0.

Meralco (MER/MERB) - Meralco released its 1H2000 financial report with the
following highlights: a) revenues up 15.9%, operating expense was up 17.3%,
operating income declined 4% to Php2.45b, and profits down by 7.7% at Php1.77b.
MARKET SCAN and PRICE ACTION. The 1H2000 financials reflects better
profitability in 2Q2000 although electricity sales growth was lower than
market's general estimate. Recommended rating remains a LONGTERM BUY. Expect Meralco to revive its petition for a rate adjustment. Albeit unpopular, WB-IMF
can pressure the government to grant the increase prior to releasing the
country's loan program. This can provide price support and potentially rebuild
interest given its favored utility rating. Price momentum is declining with key
support price at 56.0 (from its recent break of price support at 59). Risk at
56.0 is open but expect a bottoming-out trend over the near-term given an
existing price-momentum divergence signal. Immediate resistance is at
62.0/65.0. Downward channel remains intact with the trend break at 62.0.

DAILO

Aug 2, 2000, 03:06 PM

MARKET UPDATE
August 1, 2000 - Tuesday
Philippine Composite Index: DOWN 6.84pts (-0.48%) at 1410.33

MARKET HIGHLIGHTS

Skittish market with overhelming bearish sentiment continues to drive share
prices lower. The market shrugged-off the peso's mild recovery to Php44.72
during the morning trade session from Monday's close at Php44.835/USD. Key
market fears is the observed net selling of major foreign brokers which keeps
buyers sidelined until the downtrend pattern bottoms-out.

The sell-off trend on gradual rise in trade activity continued with value
turnover at Php543m from net trade turnover (ex-cross transaction) of Php408.4m
the previous day.

The Phisix continued to test lower levels at its intraday range of +2.09pts /
-10.26pts. Decliners still outpaced gainers 53:18 with 47 unchanged stocks.
Trade focus (most active stocks) were on TEL, ABSP, MERB, EBC, MBT, JGS and BPI.
TEL accounted for 24.97% of total turnover. The market's overall weakness
reflects a selective positioning among blue-chip issues which resulted to 6
gainers, 14 decliners and 13 unchanged stocks. Index-linked heavyweights that
gained were TEL, MPC, PNB, DGTL, LND and BEL. Decliners were MBT, SMPH, JGS,
ABS, MER, BPC and MERB. Top percentage decliners among index-linked stocks were
ICT (-5.4%), JGS (-5.2%), FLI (-2.6%) and CMP (-2.6%).

Net foreign selling were observed on FLI, BPC, SMPH, MERB, BPI, and ABSP.

PRICE SCAN: BPI - low at 63.0 is a new 22month low
MERB - low at 57.0 is a 9week low
GEI - 15week low set at 0.29
JGS - gap down at 2.85/2.90; low at 2.75 is a 14month low
BW - low at 4.05 is a 10week low
SGI - low at 0.90 is a one year low
FLI - gap down on open at 1.54/1.52; low at 1.48 is a 7week low

LATE NEWS: 7 Year Tnote yield at 14.25% from 14.0% last July 11th

RECENT DEVELOPMENTS

Uniwide Holdings Inc. (UW) Trade Secretary M. Roxas mentioned in his talk with
select US businessmen the likely completion of the entry of Casino
Guichard-Perrachon as a strategic partner of Uniwide over a month or so. This adds to the market belief that the rehabilitation program of Uniwide is
progressing well for target completion before end-August. (UW closed Php0.02
lower at Php0.43)

Petron Corporation (PCOR) / First Philippine Holdings Corporation (FPH).
Petron announced the postponement of the construction of its US$1.2b 225mw
coke-fired plant in Bataan. The postponement effectively reduces a sizeable
contract from project builder - First Philippine Holdings Corporation. (PCOR
was unchanged at Php1.24 / FPH was unchanged at Php20.25)

CORPORATE NEWS / MARKET SCAN

Benpres Corporation (BPC) - down Php0.10 to Php3.90). Benpres announced its
Php600m capex for the network upgrade of SkyVision who offers the ZPDee cable
internet. The announcement comes as a follow-up development of its recent jointventure with Yes Television of UK to provide video-on-deman service.
MARKET SCAN and PRICE ACTION. Investor's favorable review on BPC's e-business
ventures are not enough to curtail losses of its telecom affiliate - Bayantel.
Focus of disinterest on the stock comes from Bayantel's leverage problem and its
firm plans to operate a digital cellular business. BPC's leverage problem is
unlikely to be resolved soon and a wait-and-see is directed towards its search
for a strategic partner that will help both on the financial and the technology
support of its telecom/e-business ventures. Foreign selling led by CLSA and ABN
continues while Merril is the top buyer for the past month. BPC's strategic
investments in FPH and Meralco warrants a LONG TERM BUY on the stock. However,
old economy plays points to a preferred holding on Meralco and FPH. However, we
see no significant buildup of an ecommerce play for BPC as several other small
cap stocks with ebusiness ventures will gain more focus. Recent price trend
still holds a bullish trend from its record low at 3.55 last 5/2000. Current
trend is a bearish wave2 coming from its recent high at 4.65 with key support at 3.80. No reversal signals for a renewed test of 4.65 is apparent but its
recent low at 3.55 seems a firm bottom. Momentum signals are oversold awaiting
divergence signals to confirm a recovery. Downchannel price pattern will
reflect a breakout at 4.0 with 4.30/4.35 as the immediate target. Trading
interest to accumulate for the next primary bull wave has been triggered as
wave2 correction has achieved key price support and fibonacci price targets.
Current price levels offers a low risk buy.

DAILO

Aug 2, 2000, 03:07 PM

MARKET UPDATE
August 2, 2000 - Wednesday
Philippine Composite Index: UP 2.44pts (0.178%) at 1412.77

MARKET HIGHLIGHTS

Selective bargain-hunting enabled the Phisix to slightly recover. The peso's
marginal gain (at Php44.73/USD in morning trade from Php44.86/USD) and regional
market gains (Dow was up 0.81% and HSI up 1.69% by midday) partially eased
selling pressures. The Phisix narrowly traded at its intraday range of
-4.80pts/+3.19pts as selling momentum notably eased and triggered minor interest
for investors as they continue to reassess the risk given the current attractive
prices.

Trade activity however dropped to Php413.38m from Php544.205m yesterday. Lower turnover on such a bearish trend partly excites investors as it may translate
to the tailend of foreign selling. Investors are now keen to re-evaluate the
investment market in search for possible recovery signals. The marginal gain of
the Phisix is attributed to the recovery of the C-I and the property sector
which gained 0.14% and 0.16%, respectively. The number of gainers significantly
increased, narrowing its ratio against decliners to 32:36 with 51 unchanged
stocks.

Trade focus (most active stocks) were on TEL, BPI, EBC, BW, SMCB, MBT, and ALI
which altogether accounted for 54.7% of total market turnover. TEL and BPI
accounted for 13.5% and 9.1% of the market's net turnover. Gainers (9)
outnumbered losers (8) for index-linked stocks. Index-linked heavyweights that
gained were AC, SMPH, PNB, MBT, PCOR, FLI, and ION which partly reflects minor
foreign buying. Decliners were ALI, ABS, JGS, MER and LTDI but trade activity
(except for ALI) among the decliners were relatively low. Top percentage gainers among active index-linked stocks were DMC (+5.3%), PNB (+4.2%), FLI
(+2.7%) and SMPH (+2.1%).

Net foreign selling were observed on TEL, BPI, EBC, and ALI. Selective foreign
buying emerged in AC and SMCB. Huge sell postings in SMPH and PNB the past
days were not evident today.

Domestic focus were on OM, OMW, BW, and ION.

The Listing Committee of the PSE announced its approval to grant Omico
Corporation its request to extend the life of Omico warrant from August 17, 2000
to June 30, 2002 but subject to PSE Board and SEC's approval. OMW and OM gained
50% and 23%, respectively.

PRICE SCAN: ALI - low at 4.95 was a 2month low
BPI - low at 60.0 is a new 22month low
AHI - gap down at 0.90; retested record low at 0.90 set 7/27
PNB - on a 3day high at 50.0 after posting a low at 41
OM - on an 11day high; closed the price gap at 0.0080
OMW - on a 19day high at 0.0042

CORPORATE NEWS / MARKET SCAN

PLDT (TEL). Two major developments in PLDT: a) consolidation of ebusiness
investments and possible listing in Nasdaq and , b) the sale of Salim Group's
stake in First Pacific. PLDT announced that it will create a new subsidiary
that will undertake and integrate its internet/ebusiness ventures but noted that it is too premature to affirm its Nasdaq listing. On the other front, the
controlling shareholder of PLDT - First Pacific Group is one of the firms
identified for sale by the Indonesian Government. The Salim Group has to give
up control of First Pacific and 107 other companies as it owed the Indonesian
government USD5.93b in emergency loans to its financial flagship - PT Bank
Central Asia. Potential bidder for the assets includes an investor group close
to Salim Group's founding company and the Malaysian government. MARKET SCAN and
PRICE ACTION. The well-admired convergence thrust of PLDT requires the creation
of several subsidiaries that has strategic alliance and support to PLDT. This
is well anticipated and is a prudent way to reorganize assets and investments as
what other global telecom players has done. To cite, huge telecom firm players
such as AT&T and C&W HKt Ltd now has 16 and 15 respective subsidiaries that are
listed. On the long-run, PLDT will gain significant value from the market price
premium of the listed ebusiness subsidiary. On the other hand, PLDT officials
see no rationale to comment on the First Pacific sale by the Indonesian government. It seems too premature to judge the potential partnership
realignment or worse - management changes, once First Pacific changes its
controlling shareholders. The bearish price trend on PLDT is attributed to
reduced profitability, increased leverage and heightened competition. Investor's
are expected to move away from the profitability picture and refocus on the
breakup value and market leadership of firms. PLDT is relatively cheap given a
breakup value market estimate between P900-Php975 per share. PLDT's recent
price weakness (low at Php660) may now prompt an upgrade in its rating to a BUY.
Fundamental focus over the nearterm will be on Smart's profit turnaround and
improved margins from its convergence package. Bearish trend is intact but
reversal signals are progressing with momentum at oversold status. Risk to 600
remain open as it is the next fibonacci price target after breaking critical
support at 690 and setting a new 5yr low at 660.0. Minor upmove towards the
price gaps at 690/735 is possible but the medium term bearish trend continues.
A reassessment of the trend may warrant a reversal for a bullish posture if 815 is breached on the next rally.

ATN Holdings (ATN). ATN informed the PSE and SEC of its ongoing negotiations
to acquire control of several new economy firms namely: Transpacific Broadcast
Group Inc. (TBGI), Unipage Inc, First Entertainment Network and Data Cast.
Transpacific provides satellite uplink services from the Clark Special Economic
Zone and has a valuable legislative franchise to operate telecom services
nationwide. Unipage and First Entertainment are prime entertainment
manufacturing / distribution for wireless application while Data Cast offers
data transmission on an advanced broadcasting technology. Unipage, First
Entertainment and Data Cast are strategic businesses aligned to take advantage
of TBGI's telecom franchise. MARKET SCAN and PRICE ACTION. ATN's ebusiness
ventures could be one of the market's best ebusiness theme and has the potential
to be among the country's biggest! It's highly valued nationwide telecom
franchise, its existing satellite uplink operations and its strategic location in CSEZ means: a) a "nationwide" ready market, b) profitable operations / clean
balance sheet, and c) a prime partner of choice among regional
ebusiness/telecom players. Given its franchise, it can easily compete with the
big telecom players and subsequently establish several subsidiaries for the
different ebusiness services where strategic partnerships will be forged. It
seems to early to judge the success of ATN's business plan and to determine how
value will be clearly transfered from the new firms and to ATN. TBGI as a
franchise holder is required to be listed and it will take some time before the
market will be informed if ATN will acquire TBGI on a prelisting or on post
listing. The planned acquisition is definite since TBGI and ATN surprisingly
have the same controlling owners which allows them the luxury of time to assess
the financial impact and the market timing of the buy-in . ATN shares are
relatively illiquid with no more than 12% as the effective free float. Given
the stock's relative illiquidity, ATN continues to be rated a SPECULATIVE BUY.
Excluding the relative illquidity, ATN warrants a STRONG BUY. Foreign telecom and ebusiness players are slowly gaining interest to be a partner in ATN's
ebusiness and this may slowly attact stock accumulation. Momentum indicators
are low but rising and a price-momentum divergence signal has been triggered.
Immediate price support at 2.90/2.80 with immediate key resistance at 3.50. A
trend breakout at 3.50 points to 4.25/5.20.

reg

Aug 2, 2000, 03:07 PM

cianoy

Aug 2, 2000, 03:55 PM

For stock market analysis you can check out my site at http://geocities.com/cianoy or http://www.egroups.com/group/philippinestockmarket

;-)

DAILO

Aug 3, 2000, 11:02 AM

Negros Navigation H1 net loss 113.02 mln pesos

MANILA (AFX-ASIA) - Metro Pacific Corp unit Negros Navigation Co Inc said it incurred a net loss of 113.02 mln pesos on revenues of 1.23 bln pesos in the six months to June.

In a notice to the stock exchange, Negros Navigation said its operating cost and expenses reached 1.01 bln pesos, putting operating income at 215.77 mln.

It said its loss per share stood at 0.07 peso.

DAILO

Aug 3, 2000, 11:03 AM

STOCKWATCH: C&P Homes higher on prospects for debt restructuring deal

MANILA (AFX-ASIA) - C&P Homes Inc was higher on amid expectations it will soon strike a deal to restructure its debt, dealers said.

Bargain-hunting was also a factor, they said, with the stock trading near all-time lows.

At 10:34 am, C&P Homes was up 0.0250 pesos or 13.16 pct to 0.2150 on volume of 890,000 shares.

The composite index gained 17.76 points or 1.26 pct to 1,403.53.

C&P Homes chief executive officer Sulficio Tagud Jr said yesterday he hopes to arrive at a restructuring deal with creditors for debt of 7.8 bln pesos by September or October.

Tagud said creditors are studying C&P Homes' debt restructuring proposal and plan to commission PriceWaterhouse Coopers to validate its financial projections.

"There's a report that C&P Homes will be finalising its debt restructuring deal soon and that's positive for the company. It will mean that they can start concentrating on their operations and improving profitability," Dexter Lee, an analyst with Citisecurities Inc, said.

Lee said C&P Homes may post a small net profit in the first half in the wake of recent lot sales and debt reductions.

C&P Homes reported a net profit of 52 mln pesos in the first quarter on revenue of 1.04 bln pesos.

KGI Securities vice president for sales Fitzgerald Aclan said that C&P Homes' rise may also be technical in nature. "It is trading near all-time lows so some people are betting on the stock. It's been trading at roughly 10-20 pct of its book value," Aclan added.

DAILO

Aug 3, 2000, 02:33 PM

MARKET UPDATE
August 3, 2000 - Thursday
Philippine Composite Index: UP 23.29pts (1.65%) at 1436.06

MARKET HIGHLIGHTS

Observed net buying from some big foreign brokers resulted to some
followthrough buying on hopes that bulk of the corporate earnings
disappointments has been factored into the market. The notably less aggressive
selling pressure from yesterday was taken as a short-term cue of the market's
potential rebound. As we have indicated yesterday, lower trade turnover on a
bearish trend partly excites investors as it may translate to the tailend of
foreign selling.

IMF's will for the National Government to tighten its budget deficit and retain its fiscal program targets has yet to be absorbed by the market. Such pressure
from the IMF may be near-term bearish to the equity market as it will rekindle a
rise in key domestic rates given the need to source more funds domestically to
finance its deficit.

The peso was relatively firm as it improved from Php 44.79/USD yesterday to
Php44.77/USD during the morning trade activity.

Trade activity was relatively higher at Php533.69m from Php413.38m yesterday.
DBS transacted a cross on MVC for 178.8m shares at Php0.54 to lead most active
stocks and accounted for 18.1% of total market trade turnover. Excluding MVC,
trade activity reflected a marginal increase of 5.7% at Php436.96m. Gainers
outnumber losers 60:25 with 34 unchanged stocks. All sectors excluding the oil
sector posted gains. The closure of the Wildebeest (Sulu Sea) exploration sent
share prices of select oil participants lower.

Trade focus (most active stocks excluding MVC) were ABSP, SMCB TEL, MERB, MBT,
BPI, BW and AC. ABSP and SMCB accounted for 12.9% and 11.6% of the market's net
turnover (ex-MVC). Among index-lined stocks, only SMC registered a decline
while there were 26 gainers and 6 unchanged issues. Top percentage gainers
among active index-linked stocks were CMP (+10.5%), DMC (+7.5%), MERB (+5.2%),
SMPH (+5.2%) and MPC (+5.0%).

Creditors of CMP Homes (CMP) approved the proposed restructuring program for
its Php7.8b debt. Preliminary reports indicate that Php3b of the debt will be
converted to equity while the Php4.8b balance will be restructured in 7 yrs at
an interest rate of 4.25% to 5.5%. (CMP gained Php0.02 to Php0.21)

Domestic speculation play were on CMP, MERB, SMPH, DMC, FLI, FDC and MPC.

PSE announced the change in par value of Centro Escolar University (CEU) from
Php100 to Php1.0

Ionics Circuits Inc. changed its corporate name to Ionics Inc. but the trading
symbol of ION will remain unchanged.

Waterfront Phils. Inc. (WPI) issued a clarifying note to the PSE citing news
reports of its ongoing talks with a foreign gaming and hotel investor-partner
are merely preliminary and exploratory. WPI gained Php0.03 to Php0.53.

PRICE SCAN: MPC - opened with a gap up at 0.60/0.62
MERB - opened with a gap up at 57.50/58.50
MER - opened with a gap up at 57/57.50
BW - opened with a gap up at 4.20/4.40
TEL - opened with a gap up at 680/690
FLI - opened with a gap up at 1.54/1.56
CMP - opened with a gap up at 0.19/0.20
WPI - opened with a gap up at 0.50/0.53

CORPORATE NEWS / MARKET SCAN

Metro Pacific Corporation (MPC) - up Php0.03 to Php0.63. MPC's parent firm -
The First Pacific Group is further reconsolidating its shares in PLDT. MPRI
will purchase 15.867m shares of PLDT from MPC and Metro Asia Link Holdings Inc.
at Php900/ share for a cumulative transaction amount of Php14.28b. MARKET SCAN
and PRICE ACTION. MPC will therefore generate Php8.734b from the transaction. MPC's renewed cash build-up from the sale of PLDT shares and its divestment
from its non-property businesses is deemed positive for its property development
projects. MPC recently submitted the highest bid for Lot B (8.54has) in Ft.
Bonifacio which is intended for hotel, condo, museum, and commercial center
development. MPC's bid was significantly aggressive at Php4.2b and a Php1.076b
cash up front relative to SMIC's bid of Php2.88b and Php520.65m cash up front.
MPC's growing cash horde and the relative price firmness of Ft. Bonifacio lots
will partly increase MPC's book value and EV. MPC is definitely cheap relative
to its BkVal and EV but the property slump and the high-end nature of MPC's
development projects does not favor well for investors as other non-property
sectors are likewise trading at cheaper values. MPC continues to be rated a
LONG TERM BUY. MPC's recent price trend reflects a bounce from its recent low
at 0.58. Recent two price gaps points to a nearterm bullish trend with an
immediate test of price resistance at 0.69/0.71. Trend breakout of 0.73 is
likely given the momentum buildup and as long as 0.58 holds over the near-term. The early wedge pattern break in its price pattern now increases the chance for
a progressive buildup of the bullish 3rd wave.

Globe Telecoms (GLO) - unchanged at Php15.0. Two developments on Globe: 1) the
compensation of damages for prepaid subscribers, and 2) rumors of higher than
expected 2Qearnings growth. Globe's 3rd system upgrade for the Nokia system
resulted to technical problems which dismayed many prepaid subscribers. NTC has
ordered Globe to review the incident and to compensate irate prepaid
subscribers. Globe is waiting for the Nokia team who is investigating the
systems failure and will likely compensate subscribers on prepaid card
discounts. MARKET SCAN and PRICE ACTION. Growing revenue base and
profitability backed by its increasing market share certainly lifted GLO as a
market favorite (rated a BUY). The 3rd systems upgrade failure should translate
to minor costs for Globe. Although corporate insiders were indicating
extraordinary expenses/cost provision of Php270m for the year, market watchers do not think it is due not only for the discounts but on other investments.
Globe reported a remarkable 52% rise in profits in 1Q2000 at Php335m. Market
expects 1H2000 profits to hover around Php720-775m but rumors point to
Php850-890m. This could further intensify market interest towards GLO but full
year profits will be unlikely be rerated higher given the warning of
extraordinary losses that will be booked this year. GLO's weekly and near-term
price pattern is bearish. Risk is viewed in its price gap at 14.25/14.50 with
key support at 13.50. Immediate resistance is at 15.50 with breakout at 16.25.
Potential rally seems unlikely as consolidation levels show no momentum dip.
Near-term trading tact should be a sell on rally towards 16 and to reassess on a
downmove past 14.50.

DAILO

Aug 4, 2000, 09:32 AM

Ayala Corp defers share issue

MANILA (AFX-ASIA) - Ayala Corp has decided to defer a planned issue of common shares due to unfavourable market conditions, company managing director Renato Marzan said in a letter to the Securities and Exchange Commission.

Ayala requested the withdrawal of a registration statement filed by the company in May 1999, covering the issue of 75 mln "X series" common shares which the company planned to issue after its shareholders approved an amendment to its articles of incorporation.

The offer, with the shares carrying a par value of 10 pesos each or 10 times the par value of issued common shares, was approved by shareholders early in 1999.

Marzan said the company had decided to defer the planned issue until market conditions improve.

Ayala Corp closed up 0.10 pesos at 6.60.

DAILO

Aug 4, 2000, 07:03 PM

MARKET UPDATE
August 4, 2000 - Friday
Philippine Composite Index: UP 15.12pts (1.05%) at 1451.18

MARKET HIGHLIGHTS

The release of the country's July CPI at 4.2% fell within market expectation.
Investors find inflation relatively benign to fuel a change in the country's
fiscal policy or a move towards higher interest rates.
Favorable CPI data, the impasse of 2Q corporate earnings disappointments and
the notably less aggressive foreign-sell order flows fueled the technical bounce
to extend further.

The peso added to optimism as it gained further to Php 44.59/USD from
yesterday's close at Php44.685/USD.

Trade activity increased to Php521.82m from yesterday's ex-MVC cross total
trade turnover of Php436.96m. Gainers continued to outnumber losers 49:25 with
42 unchanged stocks. All sectors excluding finance and the mining sector posted
gains.

Trade focus (most active stocks) were heavily concentrated on MERB, TEL, BPI,
and SMPH which altogether accounted for 55.6% of total market turnover. MERB and
TEL accounted for 17% and 15.7% of the market turnover. Only 3 index-lined
stocks decline, namely TEL, JGS and PNB. Top index gainers were ALI, SMP and
MER. Best gainers among index-linked stocks were CMP (+19%), MPC (+6.4%), FLI
(+6.25%), ALI(+5.9%) and SMPH (+5.9%).

News of a potential foreign investor entry in CMP Homes (CMP) after the finalization of its restructuring program restored buying interest. CMP closed
at Php0.25 to register a 31.6% gain since the restructuring deal was confirmed
yesterday morning.

PSE announced the suspension of trade due to non-compliance of reportorial
requirements on RPC, WHI, MON and MED. Lifting of suspension warning was
granted to URDI, SCC and MRC given its compliance to requirements with the PSE.

PLDT and Benpres Corporation informed the PSE that the news article citing
PLDT's bid to buy Bayantel is baseless. PLDT is not in discussion with the
Lopez Group for the acquisition of Bayantel, while BPC reported that no
inquiries have been received nor are any audit related to a probable sale is
ongoing.

PRICE SCAN: SMPH - on 3day upmove to set a 14day high at 5.40
AC - intraday high at 6.70 is an 11day high
CMP - set an 6week record high at 0.25
FLI - 3day upmove to an intraday high at 1.72 is a 9day record high

CORPORATE NEWS / MARKET SCAN

SM Prime Holdings Inc. (SMPH). - up Php0.30 to Php5.40. Rumors point to a
sustained profitability growth in 2Q2000. SMPH is likely to release its 1H2000
financial performance sometime next week. MARKET SCAN and PRICE ACTION. SMPH
registered a 10% profit growth in 1Q2000 on the back of a 14% increase in
revenues. The economic slump and the bomb attack in one of its malls fueled
expectations that 2Q2000 revenues and profitability will be reduced to near nil. As such, any signs of profit growth despite dismal in 2Q2000 is deemed
positive as it confirms renewed strong consumer traffic in SMPH's malls. Adding
further optimism to SMPH is a newsreport citing the possible entry to the
country of US-based Toy's R Us which will more likely locate with SMPH given its
market dominance. SMPH's is rated a BUY given its defensive posture given its
growing leasehold space and its cash flow strength. Consensus profit growth
estimates show an increase to 16% in 2001 on the back of the contribution of two
new malls - SM Manila which was opened last April and SM Pampanga which will be
operational by December 2000. SMPH's price trend is consolidating towards
higher levels. Record drop at 4.05 early this year warrants a bottom and its
recent high at 5.60 as the interim wave1. We suspect wave2 has bottomed-out at
4.70 and current progress is a gradual upmove past resistance at 5.60 onwards to
its medium-term objective at 6.25. Likely price pull-back towards immediate
support at 5.10/4.95 is expected and should warrant accumulation. A price
pattern for a reverse H/S is also in progress to support the rally potential.

SPI Technologies. (SPI) - down Php0.10 at Php7.20. SPI Technologies issued a
news release announcing a new outsourcing contract in Europe and another in US
by its affiliate - Software Services. SPI also announced that it is also in the
process of finalizing a contract for a business-to-business e-commerce company
based in Netherlands for web based application development services. MARKET
SCAN and PRICE ACTION. The undisclosed client was tagged as a Europe
heavyweight and the initial contract is a major breakthrough that will open
further stream of projects. The US contract was rumored to be from Amexco which
SPI has yet to confirm. SPI is a rated BUY. New investments in the new economy
including is call centers, and the gradual inflow of contracts reflects SPI's
competence and strategic business model. SPI's rate of profit decline is due to
end as its new investments slowly contribute to profitability by 20001. No
extraordinary losses from foreign operations have been reported which puts on track its gradual return to register income growth. Price pattern remains
bearish but momentum-price divergence signals attest to its recent low at 6.80
as a likely bottom. So far, the consolidative pattern from 6.80 still
exemplifies a reversal scenario which warrants a buy. Immediate resistance is
at 7.60/7.90 where a likely convincing breakout points to a retest of 8.30/9.80
over the medium-term.

Metro Pacific Corporation (MPC) - up Php0.03 to Php0.63. MPC's parent firm -
The First Pacific Group is further reconsolidating its shares in PLDT. MPRI
will purchase 15.867m shares of PLDT from MPC and Metro Asia Link Holdings Inc.
at Php900/ share for a cumulative transaction amount of Php14.28b. MARKET SCAN
and PRICE ACTION. MPC will therefore generate Php8.734b from the transaction.
MPC's renewed cash build-up from the sale of PLDT shares and its divestment from
its non-property businesses is deemed positive for its property development
projects. MPC recently submitted the highest bid for Lot B (8.54has) in Ft.
Bonifacio which is intended for hotel, condo, museum, and commercial center
development. MPC's bid was significantly aggressive at Php4.2b and a Php1.076b
cash up front relative to SMIC's bid of Php2.88b and Php520.65m cash up front.
MPC's growing cash horde and the relative price firmness of Ft. Bonifacio lots
will partly increase MPC's book value and EV. MPC is definitely cheap relative
to its BkVal and EV but the property slump and the high-end nature of MPC's development projects does not favor well for investors as other non-property
sectors are likewise trading at cheaper values. MPC continues to be rated a
LONG TERM BUY. MPC's recent price trend reflects a bounce from its recent low
at 0.58. Recent two price gaps points to a nearterm bullish trend with an
immediate test of price resistance at 0.69/0.71. Trend breakout of 0.73 is
likely given the momentum buildup and as long as 0.58 holds over the near-term.
The early wedge pattern break in its price pattern now increases the chance for
a progressive buildup of the bullish 3rd wave.

Globe Telecoms (GLO) - unchanged at Php15.0. Two developments on Globe: 1) the
compensation of damages for prepaid subscribers, and 2) rumors of higher than
expected 2Qearnings growth. Globe's 3rd system upgrade for the Nokia system
resulted to technical problems which dismayed many prepaid subscribers. NTC has
ordered Globe to review the incident and to compensate irate prepaid
subscribers. Globe is waiting for the Nokia team who is investigating the systems failure and will likely compensate subscribers on prepaid card
discounts. MARKET SCAN and PRICE ACTION. Growing revenue base and
profitability backed by its increasing market share certainly lifted GLO as a
market favorite (rated a BUY). The 3rd systems up

reg

Aug 4, 2000, 07:03 PM

DAILO

Aug 5, 2000, 12:01 AM

HSBC to buy bank

HSBC is considering buying a bank in the Philippines to expand its retail banking operations in the country, says Philippine central bank governor, Rafael Buenaventura.

He told Bloomberg that HSBC's unit in the Philippines would like to buy 100 percent of a Philippine bank. HSBC has been operating in the Philippines since 1875 and currently operates five branches, four in metropolitan Manila and one in the southern city of Cebu.

DAILO

Aug 5, 2000, 12:03 AM

Bank merger announced

Banco de Oro Universal Bank, owned by Philippine retail tycoon Henry Sy, will merge with Dao Heng Bank Philippines, a subsidiary of Dao Heng Bank, Hong Kong.

The two banks announced that the merger would be executed through a share swap arrangement. Under this plan, Dao Heng Bank will get a minority stake in Banco de Oro and will be represented in the management of the merged bank with Banco de Oro being the surviving entity. Banco de Oro president, Nestor Tan, said Banco de Oro would benefit from Dao Heng's expertise in consumer banking. Dao Heng Bank managing director, Randolph Sullivan, said an alliance with Banco de Oro would strengthen Dao Heng's competitive position in the Philippines and provide the group with a wider access for its extensive range of financial products and services.

DAILO

Aug 5, 2000, 12:04 AM

Taiwanese group to buy into Equitable

Equitable PCI Bank president and chief executive officer told the Philippine Star that a Taiwanese group was one of several other parties that are interested in buying between six to 20 percent of the Philippine bank.

DAILO

Aug 5, 2000, 12:04 AM

Templeton to retain investment in PNB

Templeton Asset Management of Hong Kong said it would retain its investment in Philippine National Bank (PNB). The Philippine Star newspaper reported that Templeton would not sell its stake in PNB. Templeton's 10.9 percent holding in PNB will be diluted if it does not participate in a forthcoming stock offering aimed at raising capital for the bank which is controlled by Lucio Tan, chairman of Philippine Airlines.

DAILO

Aug 5, 2000, 11:53 AM

Philippine builder moves closer to debt restructuring

In a recurring theme this week, the largest Philippine builder of homes company C&P Homes saw its creditors accept terms of restructuring its P7.8 billion ($173 million) of debt. The company halted payments on P14 billion of debt in October.

P6.3 billion of its total debt is owed to foreign creditors. The company is seeking to convert Ps3 billion of debt into equity and increase the repayment period to seven years.

DAILO

Aug 5, 2000, 11:54 AM

Philippines to cut borrowing in 2001

The Republic of the Philippines announced on August 4 that it would borrow less from the capital markets next year. The Development Budget Coordinating Committee said the government intends to borrow P177 billion, a fall of 25 percent from fiscal 2000.

Of this total, P112.3 billion will be accessed from the domestic capital markets, with the remainder coming from overseas. The deficit was announced to be Ps85 billion, up from the P62.5 billion for 2000. The large deficit has had a destabilising effect on Philippine sovereign paper recently — 9.75 percent March 2010 is trading at 526 over 10-year Treasuries and 10.625 percent March 2025 is trading at 695.

DAILO

Aug 7, 2000, 06:15 PM

MARKET UPDATE
August 7, 2000 - Monday
Philippine Composite Index: DOWN 1.08pts (-0.07%) at 1450.10

MARKET HIGHLIGHTS

Trade activity dropped to a record low of Php306.239m, as investor's herd
characteristic found no leaders to follow and hopes faded for a follow-through
buying activity from last week's indicative market rally.

News of government efforts to curtail the country's ballooning deficit to lower
levels failed to stir interest as market watchers see the odds favoring higher
than target budget deficit numbers. The peso slightly dropped to Php44.73/USD
in today's morning trade activity from Friday's close at Php44.63/USD.

Real trade activity was much lower since there was a Php30m cross transaction
on PGMC at Php20/share. This effectively lower the trade turnover to
Php276.239m, a 37% drop from Php436.96m last Friday. Profit-taking resulted to
higher number of stock decliners at 46, gainers were 20 and 44 unchanged stocks.

Trade focus (most active stocks) were heavily concentrated on SMCB, MERB, TEL,
PGMC, and MBT which altogether accounted for 62.2% of total market turnover.
SMCB and MERB accounted for 17.3% and 14.7% of the total market turnover. Only
4 index-lined stocks managed to post gains, namely ABS, TEL, SMCB and AEV. Top
index decliners were CMT (-9.4%), CMP (-8%), FDC (-4.6%), MPC(-4.5%) and DGTL
(-4.4%).

PSE announced the lifting of suspension of trade on MED.

Waterfront Phils. Inc. (WPI) reported the following board resolution: 1) Mr.
W. T. Gatchalian was re-elected as director to serve until the next annual
meeting, 2) the next annual stockholders meeting will be on September 30, 2000
and has set September 11,2000 as the record date for stockholders entitled to
vote, and the 3) approval of its 25% investment in Wellex Industries, Inc.
(WIN).

PRICE SCAN: CMT - low at 0.29 is a 25-month record
DGTL - gap down at 0.66-0.68

CORPORATE NEWS / MARKET SCAN

Benpres Corporation (BPC) - down Php0.05 at Php3.95. BPC telecom-affiliate
Bayantel is currently negotiating with several international telecom firms for a
possible partnership for its mobile phone operations. Cited by a newspaper as a
prime target partner is Telenor International A.S. or Telenor - Norway's biggest
phone company which offers telephone services adn as well as install/operates
information technology systems. Telenor also has international
ventures/partnerships in Ireland, Greece, Germany, Austria, Montenegro, Hungary,
Russia, Ukraine, Bangladesh and recently in Malaysia. MARKET SCAN and PRICE
ACTION. BPC's search for a strategic partner is well anticipated given its huge
capex requirement estimated around US$700m for its mobile, toll road, power
generation and water distribution business. BPC's debt problem and violation of
leverage restrictions has prompted a downgrade in key ratings from most
brokerages early this year. BPC has an outstanding debt of Php12.4b. This has
been evident to its share price which dropped from a high of 9.10 (2/11)to a low at 3.55 (5/24). The sell-off has reduced effective foreign shareholdings at
BPC to 20% from the allowable 40%. Focus now is on BPC's debt reduction program
which is notably one of the prime concerns of BPC's management. A strategic
partner in Bayantel will therefore allow the expansion without BPC incurring
additional debt. Its rumored partner- Telenor is new to the Asian market but
has been notably firm in its desire to establish presence. It has inked ties in
Malaysia recently and is one of the rumored partners for TACS in Thailand.
Telenor has taken a 30% stake in Digi.com Bhd in Malaysia for US$207m, an amount
which BPC also requires for the mobile phone roll-out. We do not expect any
upgrade in the market rating on BPC due to this development (BPC remains rated a
LONG TERM BUY). Trading strategy however warrants an accumulation at current
levels as reversal signals are building-up. Recent low at 3.85 (a break of key
support at 3.90) suggests a bottoming out trend since 3.55 is still the
recognized trend bottom. BPC's corrective pattern on a major impulse wave does
not warrant a full correction (based on BPC's history) which at current level puts BPC on the buy zone. Immediate price resistance is 4.15/4.40.

BW Resources (BW) - down Php0.10 to Php4.30. The Securities and Exchange
Commission (SEC) is not likely to act on BW's filing for a change in corporate
name and business until it satisfactorily submits its financial statements for
FY1999 and the necessary settlement of fines. MARKET SCAN and PRICE ACTION.
Trade interest on BW never recovered despite its announcement of the change in
business and its entry to the new economy. Overhang is the ongoing
investigation of the DOJ whose preliminary comments is due to be released by
mid-September. The programmed entry of its new investors worth Php5b being
arranged by Penta Capital will be delayed if SEC delays its approval. BW's
intermediate trend (6weeks) is bearish from 7.0 to its recent low at 3.90.
Momentum signals are mixed and trend reversal signals are not yet formidable
until a trend break of 4.90 is achieved. Bullish hopes are pinned on an end of
the corrective wave2 at 3.80 and an intermediate 3wave is due to progress with 5.40/6.0 as the immediate target. However, if BW's price consolidates, there
is a growing risk of a downward break of key price support at 3.80 since the
bullish scenario warrants that the 3rdwave to be a strong rally.

ABS-CBN (ABS) - ABS and ABSP was up Php3.0 at Php48.50. Foreign interest on
ABS-CBN is gaining ground given its justifiable premium being a major content
provider. ABS recently acquired a majority stake (51%) in PinoyAuctions.com
which strongly sends a positive signal where ABS is pursuing active entry in
on-line business and it wants a controlling stake. MARKET SCAN and PRICE
ACTION. ABS is rated among the top buys for new economy play and its dominant
stature warrants a premium. Such theme is expected to gradually take key focus
anew after the 2Q2000 corporate earnings reporting season ends. The various
potential for tie-ups is expected to keep ABS busy in building and acquiring
other on-line firms. This is expected to enhance its revenue base more than what
its traditional programming revenues provide.
A technical price rebound is also due as its recent price drop from 57 to 44
has attained key fibonacci retracement targets. Next immediate price resistance
is at 50.50/52.0 while support is its recently filled price gap at 47.50/47.0.
Risk towards 44.0 remains open but the medium and long-term trend objective
towards 57 remains intact. Selling pressure is expected to increase towards
50.0 which is its current 1-month average transaction price.

DAILO

Aug 8, 2000, 05:16 PM

MARKET UPDATE
August 8, 2000 - Tuesday
Philippine Composite Index: DOWN 11.36pts (-0.78%) at 1438.74

MARKET HIGHLIGHTS

The alarming drop in trade activity yesterday further stressed the decline in
overall investor interest. Hints of lower key domestic interest rates and the
US market's overnight gain (Dow was up 0.92% and 2% for Nasdaq) failed to stir
activity as investor reluctance intensified in absence of market incentives.
Lower share prices and the steady decline in market turnover can critically
damage foreign institutional investor interest at the Philippine market as
effective liquidity decline beyond fund exposure standards.

Trade activity relatively improved by 49.5% to Php457.741m from a record setting low of Php306.239m yesterday. However, excluding the transaction cross
on SMCB worth Php169m and Php4.3m on CHIB, net turnover remains alarmingly low.

Central Bank's memorandum for banks on the revised formula for the reserve
requirements will expectedly free 1-3% of liquidity estimated around Php52b.
CB wants the banks to increase its loan exposure while effectively reducing key
interest rates.

Mixed results of the T-bill auction failed to be a benchmark of recovery for
the equities market. The 91day tenors inched lower at 8.924% from 8.925%; the
182day low was unchanged at 10%, while the 364day tenor increased from 11.176%
to 11.242%.

Despite relative regional currency firmness, the peso slightly declined anew to
Php44.96/USD in today's morning trade activity from yesterday's close at Php44.845/USD.

Real trade activity was much lower since there was a Php30m cross transaction
on PGMC at Php20/share. This effectively lower the trade turnover to
Php276.239m, a 37% drop from Php436.96m last Friday. Profit-taking resulted to
higher number of stock decliners at 46, gainers were 20 and 44 unchanged stocks.

Trade focus (most active stocks) were again highly concentrated on SMCB, TEL,
BPC and MBT which altogether accounted for 65.5% of total market turnover. SMCB
and TEL accounted for 37.77% and 14.26% of the total market turnover. Again,
only 4 index-lined stocks managed to post gains, namely TEL, EBC, LTDI, and
AEV. Top index decliners were SMPH(-6.6%), CMP (-6.5%), BPC (6.3%), ICT(-3.85%)
and MPC (-3.1%).

Several business dailies highlighted the Belle Corporation's planned divestment
of non-core assets which includes the possible sale of Philcom. Such news was
not a surprise as this has long been announced under Belle's restructuring
program. GSIS, SSS and SMIC both maintained one board seat representative. (BEL
was unchanged at Php0.97)

Ayala Corporation (AC) disclosed its investment in MeetChina.com, a provider of
online door to door solution for buyers around the world to procure products
from China. Funding will be used to develop on-line negotiation tools. Our
initial scan show MeetChina.com has yet to operate and AC's investment is
unlikely for immediate benefit. MeetChina.com is not listed but its programmed
listing in HK or China will fuel windfall gains in the future. (AC closed
unchanged at Php6.60)

PRICE SCAN: ICT - posted an intraday record low Php0.99

CORPORATE NEWS / MARKET SCAN

Bank of the Philippine Islands (BPI-FEB) - up Php0.5 at Php63.50. BPI
furnished the PSE its 1H2000 financial performance with 1H2000 profits at
Php1.747b. MARKET SCAN and PRICE ACTION. Most houses were already aware of
BPI's 1H2000 financial results. Summary highlights are: a) 2Q2000 profits at
Php887m is down 37% yoy, a huge decline from a mere 6% decline in 1Q2000, b)
pro-forma merged basis with FEB reflects a 47% decline in 2Q2000 profits. BPI's
disappointing 2Q2000 performance is attributed to added merger costs and loan
loss provisions as FEB's loan portfolio is substandard to BPI. Margins slightly
improved in 2Q2000 but revenue growth was slower due to the economic slump. Consensus market rating action points to a further downgrade in Y2000 profits
(approximately a 10% to 15% downgrade to around Php4b) as bank officials hint of
further loan provisioning to extend in 2H2000. BPI's share price remains on a
steady downtrend from 112 (May 1999) to its recent low at Php60. Moving
averages and momentum signals show no apparent reversals yet but it has reached
oversold status. At BPI's immediate price support at 60 reflects a significant
74% retracement which now warrants a watch for a reversal pattern. Near-term
pullback for a retest of 61 is possible as today's intraday low suppressed the
impulse pattern where its past 3day trend reflected an upmove where its intraday
low was consecutively higher. Sentiment towards the banking sector remains low
but we see no major disappointment on BPI over the medium-term. As such, it
remains likely that its key support at 60 will be firm (next immediate fibonacci
downmove target is at 58) with minor downside risk. Accumulation of BPI is
warranted. Immediate resistance is at 64.50 with the rally likely to extend
towards 70.50/75.0 over the medium-term.

Meralco (MER/MERB) - MERB was down Php0.50 at Php61.0. Meralco confirmed it
established a new Php199m subsidiary - e-Meralco Ventures, Inc. which will
handle Meralco's possible electronic commerce-related businesses which the
company will pursue in the future. MARKET SCAN and PRICE ACTION (MERB).
Details of e-Meralco Ventures, Inc. has yet to be disseminated but initial
market review points to e-Meralco's planned use of its wiring network as a
strategic distribution advantage for its likely partnership with cable firms,
etc. E-Meralco can also be a conduit for Meralco's BtoB and BtoC program plans.
Such news is positive as its reflects Meralco's continued search to enhance
shareholder value with its strategic investments. However, underlying
disappointment on Meralco is its inability to get a distribution rate hike.
Meralco's recently reported reasonably strong 2Q2000 performance has further
enhanced expectations for 2H2000 given the acceptable sales growth and its improved efficiency. MERB is rated a BUY with its PE rating considerably
acceptable at 18x and a P/Ebitda at 5.15. There are greater possible upside
surprises (ie. rate hike grant and the block share sale at higher levels) while
downside factors (further delay in rate hike) are well discounted to its share
price. Near-term weakness points to immediate price support at 60/58.50 (risk
to close the price gap at 58.0-58.50). Momentum is neutral but rising which
supports a near-term price recovery set from its recent downtrend channel break
at 61. Price recovery is certain over the medium-term to break resistance at
62/65 with 80 as its first objective.

DAILO

Aug 13, 2000, 02:47 PM

GREED IS GOOD! :D :D :D

DAILO

Aug 14, 2000, 08:55 AM

HSBC set to clinch bank purchase in the Philippines

HSBC is close to forging an agreement to buy a thrift-banking unit of Equitable PCI Bank, the third largest bank in the Philippines, says a source familiar with the negotiations.

“Equitable PCI has given [HSBC] its asking price and HSBC has indicated that it remains interested. There are indications that pricing will not stand in the way of an agreement being reached soon,” says the source.

The source says Equitable PCI’s reported asking price of two times the book value for PCIB Savings Bank is well within the range of prices paid for banks over the past year. He adds the prospect for Equitable PCI and HSBC reaching an agreement is good despite a provision in the law, which restricts foreign banks from buying a local financial institution.

On August 8 central bank governor, Rafael Buenaventura, said that Bangko Sentral ng Pilipinas would try to find a way out of the legal restriction to allow major foreign banks, such as HSBC, to expand their retail banking operations in the country. “What could happen is for Equitable PCI and HSBC to reach a provisional [sale-and-purchase] agreement which could later be confirmed by the [policy-making] monetary board of the central bank,” says the source.

He says Equitable PCI does not foresee any difficulty in HSBC’s due diligence on PCIB Savings Bank because of its sound financial condition. As of the first quarter of the year, the bank had assets of P1.41 billion ($31.5 million), P531.19 million in loans and P695.57 million in deposits. It has 14 branches.

DAILO

Aug 18, 2000, 11:42 AM

August 17, 2000 Thursday

Philippine Composite Index: UP26.67pts (1.81%) at 1,499.74

MARKET HIGHLIGHTS

Outlook of increased market activity and news of the likely end of the hostage crisis were more than enough to lift the Phisix to positive territory throughout the trading session and close to a 20-day high. The country’s Finance go signal for the GSIS and SSS increased participation in market was welcomed with increased participation by local investors as it meant a buying support which will partly ease overall market fears. Considering the market’s lingering ecopolitical concerns, such buying support will theoretically limit price volatility specially on bearish trends. Likewise, increased trade activity or stock liquidity will slightly encourage foreign investor participation.

Today’s xpected release of local and foreign hostages in Mindanao by extremist forces failed according to latest news. Albeit a cliff-hanger at current stage, hopes are high for the near-end of the hostage crisis which will improve general perception on country’s peace and order situation.

Trade activity significantly increased to Php1.24b from Php785m yesterday. All sectors except for the mining sector gained as three (3) issues gained for every decliner. Index-linked stocks were broadly higher with 16 gainers, 2 decliners and 15 unchanged issues. Only JFC and LTDI registered a price decline.

Focus of trade (most active) were on EBC, TEL, MERB, and MBT which accounted for 69.1% of total market turnover. EBC and TEL accounted for 35.8% and 20.8%, respectively.

Index-lined movers were EBC (up 9.9% at Php72.0), FLI (up 6.% at Php1.76), DGTL (up 6% at Php0.71), BPC (up 3.9% at Php4.0), JGS (up 3.6% at Php2.90) and AC (up 2.9% at Php7.1).

Other major movers were: OMW (up 33% at Php0.004) and EBCW (up 28.6% at Php2.7). Surprising increased activity and price gain were on BPC, CHTR and ALI.

PRICE SCAN: GLO – intraday high at 17.0 is a 6-month high
SPI – gap up on open at 9.10-9.20; intraday high at 9.5 is a 10week record high
EBC – gap up on open at 65.50-68.50; close at 72 is a 6month record high
EBCW – gap up on open at 2.10-2.20
FLI – gap up on open at 1.66-1.68
BPC – gap up on open at 3.85-3.90
GLOW – gap up on open at 3.85-3.90
MUSX – gap up on open at 5.0-5.10
FPH – gap up on open at 20.0-20.25
GEI – gap up on open at 0.30-0.31
TEL – gap up on open at 685-690
ABSP – gap up on open at 46.5-47.50

RECENT DEVELOPMENTS

The National Telecommunications Commission (NTC) is mulling imposing fines to Smart and Globe based on widespread consumer service failure. The Department of Trade and Industry (DTI) is considering imposing an advertising ban on Smart and Globe until services are improved.

Key highlights of Globe Telecoms 2Q2000 investor briefing:
a) strategic thrust moves towards profitability vs market growth – preferential promotion goes to post-paid as this provides higher average revenue per unit (ARPU); additional mobile subscribers are likely from the low-income bracket which is distinctively low revenue and very vulnerable to economic difficulties ; ARPU is therefore bias to decline until new services gain competence; subscriber growth will also taper down
b) Prepaid problem tagged as the 222/223 problem has been corrected
c) 2Q2000 expenses includes a Php272m write-off from receivables from Pacific Gateway Exchange (PGE) which filed for insolvency in the US – such provision is 100% and they are restricting further connections with PGE so there will be no further write-offs in the succeeding quarters
d) Data services to be promoted and enhanced with further tie-ups – to expand its market and revenue base
e) Reverse stock split rationale is based on the company’s forward looking plans to keep price of preferred shares narrower to the common shares
f) PDR issuance is targeted this year but still dependent on market conditions
g) On NTC issues:
a) proposed extended life of prepaid cards – Globe still is opposing such move and explaining the cost side of maintaining prepaid subscribers;
b) move towards pulse charging – unlikely to be fulfilled since interconnection charges should likewise be moved to pulse charging which will take considerable time;
c) Islacom’s non-compliance on fixed line installation quota – still under debate but Globe maintains its position that it was able to attain the quota and will support further fixed line growth
h) Churn rate: increased to 1.3% in 2Q from 1.2% in 1Q for postpaid; while prepaid increased to 1.4% in 2Q from 1.1% in 1Q
i) Capex of $1b – clarified as an 18-month estimate but dependent on subscriber growth; $600m is definite for the next 6months
j) Competition outlook given new licenses granted to Bayantel and Digitel: welcomed but consensus is concerning since the market has been highly penetrated and it takes considerable time to develop products, market and systems.

SPI Technologies reportedly secured a $5m contruct for online content conversion project for Elseviere Science of Netherland. Company profit performance was not reported in yesterday’s briefing although indications show lower than 1Q2000 profits. Optimism on new service contracts are high as company officials indicate two(2) definite contracts before end-September, six (6) are ongoing discussions and about thirty (30) proposals are at hand and for preliminary review.

Steniel Manufacturing (STN) reported a 2Q2000 profit of Php14m, a considerable turnaround from a Php7m loss registered in 1Q2000. (Financial details remains to be reviewed)

CORPORATE NEWS/TRADING MARKET SCAN

Uniwide Holdings Inc. (UW) – up Php0.02 at Php0.52. Only five more banks are due to sign the rehabilitation program, namely Land Bank, PNB, Allied Bank, East West Bank and ING. Six banks have inked its approval, these are UCPB, Global, IEXBank, East Asia and BPI. UW’s prime lots in Las Pinas will be converted to a condominium project to be held by another company whose ownership will be transferred to select banks for dacion en pago. Afterwhich, the memorandum of understanding with Casino to invest Php3.57b will push through. MARKET SCAN and PRICE ACTION. Development interest based on the rehabilitation program and Casino’s expected entry has yet to make a huge impact on price. Market watchers clearly remain skeptic of any major price turnaround on UW as a sell-off after Casino’s entry may be met by huge sellers long wanting to dispose their shareholdings. Despite the developmental turnaround, UW’s return to profitability is far-fetched given its negative capitalization. Any move for a capital hike will also be net negative. However, UW’s trend is medium-term bullish with prominent near-term risks. Risk comes from a toppish nearterm momentum with a price-momentum divergence signal now warranting a sell on strength. A close watch on the issue is necessary given a risk for a retest of 0.43 prior to any price breakout (a waveC of major wave2 is also an ongoing valid scenario). Most bullish Elliot scenario places the current upmove from its recent low at 0.43 as a wave2 bottom of a wave3 price rally. Such price pattern supports the speculative nature of the issue. Signal for re-entry is most preferred if the stock falls below 0.43. Bandwagon trend on a possible break of 0.54 is also a preferred entry level since the next fibonacci target is 0.81 and 1.02 . (Recommended Trading Action Summary: sell on strength from current levels; buy on breakout at 0.54 with sell targetzone at 0.81 or better; on weakness, ac

reg

Aug 18, 2000, 11:42 AM

DAILO

Aug 21, 2000, 11:23 AM

e-KONG buys into Manila-based k2ia

Hong Kong listed e-KONG group is to buy up to 15 percent of Manila-based k2 Interactive (k2ia) in a bid to tap into the latter’s expertise on cross-media solutions.

e-KONG says k2ia, an internet company offering front-end systems integration, will support e-KONG’s service portals such as ZONE1511 and speedinsure.

k2ia is the dominant cross-media solutions provider in the Philippines, providing front-end web solutions to major companies such as the Ayala Group, AT&T, IBM, Microsoft, Pepsi Philippines and Unilever.

k2ia managing director, Sigfredo Tinga says k2ia is in talks with CLSA for a listing either in Hong Kong or on Nasdaq by the middle of next year and hopes to achieve a valuation of between $300 to $500 million before listing. “But first we have to be able to grow the business. We might also have a second round of financing involving other strategic investors,” he explains.

DAILO

Aug 25, 2000, 02:31 PM

ImpactNET Forms Strategic Partnership with Lycos Asia

Philippine Internet users can now … access everything…

Manila, Philippines August 22, 2000 ImpactNET, the Philippine’s fastest growing Internet Service Provider of Singapore based Impact Digital Media Group (IDMG) today announced a strategic partnership with Lycos Asia, a US$50 million joint venture between US-based Lycos, Inc and Singapore Telecom.

Under the agreement with ImpactNET, Lycos Asia will be powering the ISP’s website in the Philippines. The site of ImpactNET will be upgraded over the next few months to leverage the synergy of content and community with access and infrastructure. This in turn will form a solid foundation for the emerging commerce market in the Philippines.

Ms. Mary Ong, CEO, Lycos Asia said today,” We strongly believe in bringing Asian users the most exciting and fulfilling on-line experience available today. Localization is key in our endeavor to engage a culturally diverse audience in Asia. We have demonstrated that we have done well in all the countries that we have launched and are entering the Philippines with the same goal in mind.”

"We are constantly evaluating what we provide on our website and continuously adding features that are appealing and responsive to our users needs," said Mr. Rodney Banzon Consunji, Senior Managing Director of the ISP, ImpactNET and Vice President – Business Development of IDMG. "By partnering with Lycos Asia, it will increase the depth and breadth of the relevant content and services available to our users."

In addition to content, Lycos Asia will offer its world-class Internet services and tools that facilitate web navigation and encourage community building. These include Lycos powered search engine, local directories, free web-based email and web-building services. Tripod Asia’s free homepage-building site provides an easy way for both consumers and businesses to build their own content and Web pages, and encourage relationships and activities around their own communities of interest. MailCity Asia’s free web-based email services enables users to communicate and collaborate with each other throughout the global medium.

"We are happy about this partnership with ImpactNET as it marries the best of our respective strengths as providers of Internet access and Internet content and services. This synergy allows us to not just effectively deliver our rich content to a much wider customer base but also gives us the leverage to attract more and varied content and product partners. This, in turn, translates into a greater variety of customized content and services for the benefit of our users." said Ms Ong.

“We at the Impact Digital Media Group are constantly evaluating what we provide on our websites and continuously adding features that are appealing and responsive to our users needs. With ImpactNET partnering with Lycos Asia, it will increase the depth and breadth of the relevant content and services available to our users. We are excited about these new developments... and we are determined to help you make the most of them. That's what "ImpactNET - access everything..." is all about... bringing more people into the world of interactive services, and making the online experience an even more valuable part of people's lives,” said Mr. Consunji.

The Philippine Internet industry and e-commerce environment is currently in an exciting phase of its development. The Internet user population and PC penetration are fast growing. The audience is young, dynamic, multi-lingual and well educated. It is important for us to establish ourselves here early in our growth. The time is right for us to make the investment that we need to build our presence, and integrate with the regional communities to develop the most compelling on-line experience that the Internet users here deserve. This also positions us well to expand very quickly into the rest of Southeast Asia in the near future.

“We'll continue to enhance IDMG and make the promise of "ImpactNET - access everything..." a reality, and while we'll continue to build our network so we can meet your needs and also the needs of our partners, employees, and shareholders, we realize we shoulder a responsibility that transcends improving our services and bettering our company. We recognize we need to take proactive steps now to ensure that we build a medium we can be proud of... a medium that has a positive "impact" on society. A medium only made possible by our partnership with Lycos Asia. “ said Mr. Consunji

“We have only just begun to dream about how this medium is going to transform our lives and our society. It's a new world, and it's going to require fresh, bold thinking. At ImpactNET, we are excited by the challenges and the prospects, and we look forward to delighting you with new products, services and experiences. Our partnership with Lycos Asia is evidence that we are committed to constantly raising the bar and bringing you with us into a new world of even greater interactivity and connectedness. “ said Mr. Consunji.

leira

Aug 25, 2000, 05:23 PM

greed can sometimes give you good returns in the stock market, but most of the time, it's the reason for people losing a lot of money. trust me, i've been there. sometimes, if you see a good rise in prices, it's good to sell at that high and not HOPE that it would go higher.

if you want good tips in the stock market, and update in stocks, you could go to this website : (url)www.citiseconline.com(/url)

DAILO

Sep 10, 2000, 11:16 PM

Hello PExRs... i'm back!

GREED IS GOOD! :D :D :D

DAILO

Sep 11, 2000, 10:56 AM

Philippines not to sell agriculture bonds this year

The announcement earlier in the week that the Department of Agriculture (DA) was to sell $300 million of eurocurrency-denominated bonds to pay for 14 irrigation projects through Deutsche Bank, this was flatly contradicted by the Department of Finance (DoF).

In a statement, finance under-secretary Joel Banares said, “International bond financing of the Philippines government has been completed for this year…. [We] are not planning to issue Eurobonds to finance its [DoF] irrigation projects.”

The DA said the proposal had been submitted to DoF. However, Banares said that the department hadn’t received a proposal and that the DA’s budget was met by the government.

Referring to the cancelled euro transaction of April he said, “Even the republic is unable to borrow from the euro market at this time.”

DAILO

Sep 11, 2000, 10:59 AM

SingTel plans more acquisitions

Singapore Telecommunications (SingTel) says it will continue exploring “win-win” investment opportunities in the region.

The Indonesian government has said that it would invite some of the world’s biggest telecommunications companies, including SingTel, to invest in its soon-to-be liberalised telecommunications sector.

SingTel declined to comment on the Indonesian government’s overture and specific investments that it is considering, but has revealed its plan to eventually link up its mobile investments in various parts of the region to enhance services to its customers. “We are working to form a regional cellular network by grouping the 4.8 million subscribers of SingTel Mobile and [those of] our associates — Globe Telecom of the Philippines, Advanced Info Services of Thailand and the Bharti Group of India. Our combined subscribers can then benefit from preferential roaming arrangements and cheaper handsets, for example, as a result of greater discounts on bulk purchases,” says a SingTel spokesman.

DAILO

Sep 11, 2000, 11:02 AM

Philippine assets sale in October

The Philippine government will auction a 4.8-hectare plot of land in Makati, the country’s financial district and its stakes in tollway operator Philippine National Construction and Philippine Phosphate & Fertilizer next month, says Renato Valdecantos, head of the state-owned Asset Privatisation Trust. The government hopes to raise Ps22 billion ($484 million) in asset sales this year to ease its budget deficit, but has so far generated only Ps1.9 billion.

DAILO

Sep 11, 2000, 11:21 AM

The Government is expecting some USD2billion in foreign direct investments, including a USD750million inflow to San Miguel Corp and another USD300million from French retailers.

These investments should help improve the peso-dollar rate by year-end and beef up the country’s dollar reserves.

DAILO

Sep 11, 2000, 11:23 AM

The Bankers Association of the Philippines and Investment Houses Association of the Philippines jointly plan to establish an organised market for fixed-income securities that may take the form of a formal exchange. BAP representatives met with top Securities and Exchange Commission officials to push for
the creation of an organised platform for fixed income issues that would facilitate the listing, registration, trading and settlement of the securities and ensure compliance, professionalisation and accreditation of respective brokers, dealers and market makers.

DAILO

Sep 11, 2000, 11:24 AM

Eastern Telecommunications Philippines Inc is expecting an increase of more than 700% in its data business to USD15million by the end of the year from only USD2million in
1999. The company was aiming to remain the leading company in the data business. Earnings would come from the Internet business (USD5million) and the leased line business (USD10million).

DAILO

Sep 11, 2000, 11:25 AM

Globe Telecom Inc will install 300 additional digital cell sites on top of its more than 800 fully functional sites to facilitate better and seamless communication among Globe Handyphone subscribers. In North Luzon, the new cell sites will be distributed from Manila to Rosario, La Union; Tarlac to San Jose City in Nueva Ecija; San Fernando City in Pampanga to Olongapo City; and Manila to Laoag City.

DAILO

Sep 11, 2000, 11:26 AM

Despite initial hitches, PhilWeb.Com Inc and the Catholic Bishops Conference of the Philippines expect to open up their Internet kiosks before the year end, squashing rumours that the joint project was allegedly bogged down due to insufficient funds. The project was delayed by initial problems
concerning viability and profitability of certain proposed locations.

DAILO

Sep 11, 2000, 11:27 AM

Smart Communications Inc may have to pay rebates to its subscribers once the National Telecommunications Commission finishes its evaluation of complaints filed against the cellular company. The commission is set to wrap up its investigation of complaints against Smart in two weeks.

DAILO

Sep 11, 2000, 11:28 AM

Ayala Corp’s IT arm, iAyala has ventured into the academy for incubation activities. It has recently inked an agreement with University of the Philippines for the lease of a property space for its IT efforts. iAyala, through Ayala Foundation signed the memorandum of agreement with the state university last May.

DAILO

Sep 11, 2000, 11:29 AM

Acting as receiver of closed Urban Bank, the Philippine Deposit Insurance Corp will file this week the third batch of cases against former Urban Bank officers. PDIC, together with Bangko Sentral ng Pilipinas, has already finished the third batch of cases and will file it early this week at the Department of Justice which will then conduct a preliminary investigation

on the cases.

DAILO

Sep 15, 2000, 12:15 AM

Philippine dive 2.64% to five-week low as risks rise

Manila, Sept. 14 -- Philippine shares closed at their weakest level in five weeks Thursday after a massive sell-off by both local and foreign players amid rising political and economic risks in the country, brokers said. The Philippine 30-share composite stock index gave up 39.25 points, or 2.64%, to settle at 1,450.15 points.

Brokers said a continually falling peso, climbing interest rates and an international hostage situation in southern Philippines that has gone haywire fueled the selling pressure.

"With all these threats around us, definitely investors will sell their stocks since cash is still king," said Astro del Castillo, analyst at A&A Securities.

The peso slid to a new 32-month low of 45.950 against the U.S. dollar in morning deals Thursday from Wednesday's 45.690 close largely weighed down by weaker currencies in the region according to traders. At 0511 GMT, the pair was bid at 45.805.

Central bank Governor Rafael Buenaventura denied the central bank was intervening to prevent a further slide of the peso as dealers claimed but said its options on whether it will intervene again remain open.

Jeanette Yu-Tan, analyst at Securities 2000, says the weak peso is continuing to feed fears that the central bank may be tempted to raise its key overnight rates anew after raising them by 100 basis points Monday, a move that is seen to fuel another round of increase in lending rates of banks.

Buenaventura said the policy-making Monetary Board will decide on whether it will increase its overnight rates Friday adding that adjusting the 12% reserve requirement on banks' deposits may also be considered.

But Joseph Roxas, president of Eagle Equities, believes the government should first solve the hostage situation in Mindanao where the Muslim militant group Abu Sayyaf is still holding several foreign and local captives.

"The Abu Sayyaf is holding the whole country hostage. The dollar/peso is moving up because of that and investors in equities are scampering for safety," he said.

The market's value turnover stood at 1.25 billion pesos (U.S. $27.3 million) from about PhP1.4 billion Wednesday.

Declines led advances, 78 to 13 with 28 issues closing at previous day's prices.

Most blue chips were hit by the selling binge including JG Summit Holdings, Petron Corp, Equitable PCIBank, Benpres Holdings Corp, Manila Electric Co, Ayala Corp, Ayala Land Inc, SM Prime Holdings, San Miguel Corp, Metropolitan Bank and Trust Co (Metrobank), Philippine Long Distance Telephone Co (PLDT) and Bank of the Philippine Islands.

PLDT shares lost 15 pesos to 780 pesos while Metrobank shares shed three pesos to 169 pesos. Ayala Corp shares gave up 20 centavos to close at 6.80 pesos while its property unit, Ayala Land dropped 10 centavos to 4.80 pesos.

A&A Securities' del Castillo says he expects market players to take their cue Friday from the dollar/peso's behavior and a planned blockade by militant groups of oil depots to protest rising oil prices.

But he said the key stock index may head towards the next major support of 1,400 points if another sell-off transpires.
-- BridgeNews

DAILO

Sep 15, 2000, 12:44 AM

The Philippine Stock Exchange has approved the request of Equitable PCI Bank Inc. (Q.EQB) to extend the life and listing status of the bank's warrants for two years to Dec. 31, 2002 from Dec. 31, 2000. The approval is subject to the consent of Equitable PCI shareholders and warrant holders. JG Summit Holdings Inc. (Q.JGS) said Friday its wholly-owned unit, Express Holdings Inc., has acquired an additional 403,000 shares and 400,000 shares of Universal Robina Corp. (Q.URB) at 5.10 pesos ($1=PHP45.648) and PHP5 a share, respectively. Express Holdings purchased 150,000 shares of JG Summit itself for PHP2.70 a piece. Universal Robina is a food manufacturing subsidiary of JG Summit.

DAILO

Sep 15, 2000, 11:28 AM

Petron secures 120 mln usd three-year term loan facility

MANILA (AFX-ASIA) - Petron Corp said it has signed a 120 mln usd three-year term loan facility agreement with the Singapore branch of Norddeutsche Landesbank Gironzentrale.

In a disclosure to the stock exchange, Petron said coordinating arrangers for the agreement were Chase Manhattan Asia Ltd, Citicorp International Ltd, ING Barings Asia Ltd and Saudi American Bank.

Petron said that Chase Manhattan Bank acted as agent.

No other details were disclosed.

At 9:44 am, Petron was unchanged at 1.14 peso.

DAILO

Sep 15, 2000, 11:31 AM

EEI unit Philrock to raise capital to 500 mln pesos

MANILA (AFX-ASIA) - EEI Corp said its unit Philrock Inc has been authorised by its board of directors to raise its capital to 500 mln pesos from 200 mln to pave the way for the entry of strategic investors.

In a statement submitted to the stock exchange, EEI said it will inject additional equity of 282.6 mln pesos into its horizontal construction unit.

Philrock is active in road construction projects in Mindanao and currently undertaking the 46-kilometre Maramag-Kibawe road project in Bukidnon. The contract value of Philrock projects in Mindanao total more than 800 mln pesos.

Apart from the projects in Mindanao, Philrock is also currently completing the 380 mln pesos Aritao-Allacapan road rehabilitation project in the northern Cagayan province.

EEI is a unit of House of Investments.

DAILO

Sep 15, 2000, 11:32 AM

Estrada defends handling of hostage crisis

MANILA (AFX-ASIA) - President Joseph Estrada said holding off on military action against hostage-takers in the southern Philippines remains the correct strategy, with the hostages' safety the "primary consideration."

Amid mounting public pressure to launch a rescue mission for the 22 remaining Abu Sayyaf hostages, Estrada said on local radio: "I know what I am doing... in the end, it is going to be my decision."

"We cannot employ force immediately because the lives of innocent people are at stake. We cannot attack without a strategy in place. We are still studying it."

DAILO

Sep 18, 2000, 11:09 AM

GREED IS GOOD! BULLET POINTS :D :D :D

The National Government may yet regain its 30.39% stake in Philippine National Bank sold off in July to Lucio C Tan should the latter fail to pay the 5.6-billion Philippine peso(USD122.77million at PHP45.612=USD1) balance for the shares, officials at the Department of Finance said. Finance Secretary Jose T Pardo said the government will retrieve its stake in PNB if Mr. Tan fails to pay today the balance to cover his purchase of the block of shares.

Business World, 18 September

Mondragon International Philippines Inc chairman Jose Antonio U Gonzales may have a shot at rehabilitating the bleeding casino operator. A well-placed source told BusinessWorld over the weekend that Clark Development Corp last week voted in favour of the 650-million Philippine peso (USD14.25million at PHP45.612=USD1) offer of Mr Gonzales and PentaCapital Investment Corp to pay Mondragon’s debts as well as get its casino back in full operation. The Gonzales proposal bested the PHP400-million ($8.77 million) offer of Bank of Commerce and Antonio 'Tonyboy' Cojuangco who was keen on saving Mondragon.

Business World, 18 September

Business confidence at the start of September continued its slow recovery for the third consecutive survey period, this
time with respondents seeing a bit of silver lining in their present situation, but with future prospects still quite hazy. According to the latest survey carried out by the local office of the New York-based Audits & Surveys Worldwide exclusively for BusinessWorld, the BW-ASW Business Confidence Index crept up 3.8 index points to 78.5 at the beginning of September from July’s 74.7 index level. Since June, this business confidence barometer has climbed 7.5
points from the record low of 71.1 posted in May.

Business World, 18 September

The government is moving closer to the release of rules governing the implementation of a law that will protect local industries from import surges. Assistant Agriculture Secretary for legislative liaison and legal affairs Ma Celia H Fernandez said only the signature of Trade and Industry Secretary Manuel A Roxas II is missing to make the implementing rules
and regulations of the Safeguard Measures Act official.

Business World, 18 September

The possible reduction of the excise tax of imported petroleum products may cover only socially sensitive diesel fuel, now at around $41 per barrel in the world market, the Department of Energy said. Meanwhile, despite opposition from the oil companies, the ways and means committee of the House of
Representatives approved a substitute bill seeking to impose higher taxes on imported base oil products. The proposed reduction in the excise tax rate may not necessarily mean the pump price of diesel will go down automatically. However, it will at least peg the price at its present 13.05 Philippine pesos(USD0.29 at PHP45.612=USD1) per liter level in the coming months.

Business World, 18 September

A group of economists advised the Philippine government against going beyond the agriculture sector in a new round of talks to advance trade liberalisation at the WTO. Limiting the negotiations will be critical if the Philippines is to focus on improving its access to foreign markets for farm goods
and leveling the playing field with developed countries that have yet to significantly reduce financial assistance or
subsidies to domestic farmers. The economists’ proposals were contained in a study commissioned by the Department of Trade and Industry.

Business World, 18 September

The Senate Committee on Agriculture will start deliberations this week on a proposed measure that will protect the country’s plants from illegal commercial distribution.
Assistant Agriculture Secretary for legal affairs and legislative liaison Ma Celia H Fernandez said the Senate committee will
start its hearings on Senate Bill Nos 1912, 1618 and 108 which seek to establish a system that will protect local plant varieties from piracy. 'Public hearings on the Plant Variety Protection Bill will start this Tuesday in the Senate. The House (of
Representatives) has already passed its own version,' Ms Fernandez said.

Business World, 18 September

The International Finance Corp., the investment bank arm of the World Bank, recently forged a partnership for small and
medium enterprise lending with the Tambunting Family’s Planters Development Bank (Plantersbank) via a PHP25.5million financial package. The package consists of a
PHP10-million equity investment by IFC in Plantersbank, a PHP15-million long-term loan and a PHP500,000 technical assistance fund.

Business World, 18 September

DAILO

Sep 21, 2000, 11:46 AM

Nortel to design broadband wireless network in Philippines

MANILA (AFX-ASIA) - Nortel Networks has signed an 8.0 mln usd contract with Broadband Philippines Inc to design and implement a broadband wireless service in the Philippines, the two companies said.

The system should be operational next month and would possibly be the first broadband wireless network in Asia, Broadband chief executive officer Jose Perez de Venecia said.

Nortel will provide the equipment for the connection which does not require laying huge underground cables, local Nortel general manager Jean-Remi Giroux said.

The network would include such services as high-speed internet and data access, virtual private networks, web hosting, internet data centers and e-business systems, the officials said.

De Venecia said his company would spend 2 bln pesos in the next two years to install broadband connections to 600 buildings in Manila, particularly in the business districts.

DAILO

Sep 21, 2000, 11:47 AM

Bankard suspended after reaching share price rise limit

MANILA (AFX-ASIA) - Trading of Bankard Inc shares was suspended after the stock reached the 50 pct daily price rise limit yesterday, the Philippine Stock Exchange said.

"It's standard procedure to impose a trading halt on stocks" that breached the daily share price increase cap, a PSE source said.

The source said Bankard attributed the steep rise in its shares to the 2. 0-peso cash dividend it announced yesterday. The dividend was for the bank's shareholders on record as of Oct 2.

Trading of Bankard will resume at 10:00 am, the source said.

Bankard yesterday closed at 3.35 pesos, up 48.2 pct from previous close of 2.26.

DAILO

Sep 21, 2000, 03:21 PM

Globe forges, SAVVIS in JV on high-speed internet access to U.S.

MANILA (AFX-ASIA) - Globe Telecom has entered an agreement with SAVVIS Communications Corp to expand Globe's high-speed Internet access to the U.S., Globe said in a statement.

"We chose SAVVIS based on its industry-leading service level agreements that guarantee minimal latency and packet loss over the Internet... Just as importantly, the bandwidth SAVVIS offers makes us confident that the company will be able to handle increased volume from us as our business further expands," Globe president Gerardo Ablaza said.

Globe said SAVVIS' private network access point in California will connect Globe's network to the largest Internet backbones in the U.S.

Globe closed unchanged at 835 pesos.

DAILO

Sep 21, 2000, 07:06 PM

RP public sector deficit hits PhP49.76B Jan-Jun

Manila -- The Philippines' consolidated public sector deficit reached 49.76 billion pesos (U.S. $1.08 billion) in January-June, exceeding the ceiling of PhP38.67 billion for the period, the Department of Finance said Wednesday, citing preliminary figures.

The deficit, which was equivalent to 3% of the gross national product (GNP), was however lower against the PhP60-billion deficit in the first half of 1999.

The country's public sector position combines the balance sheet of the national government, the central bank, 13 government corporations, pension funds and local government units.

In a statement, the Finance Department said the wider deficit was largely due to the PhP11.2-billion shortfall in revenue collection of the national government mainly from lower tax revenues and proceeds from privatization of state assets.

The government's budget deficit reached PhP47.7 billion during the first half, overshooting the projected PhP39.44 billion for the six-month period. "Internal revenue collection suffered shortfalls from the delay in the recovery of corporate incomes due to continued provisioning for losses and expenditures by firms to meet the challenges of increasing competition," the department said.

"Taxes paid by the financial sector, which accounts for about a quarter of internal taxes, were also adversely affected by lower interest rates which was unmatched by increases in lending activities."

The financing requirement of the public sector reached PhP70.96 billion in the first half, also in excess of the targeted PhP65.15 billion. On an adjusted basis, the public sector financing requirement stood at PhP72.36 billion, exceeding the goal by PhP3.2 billion.

The adjusted financing requirement figure excludes the accounts of the Oil Price Stabilization Fund and proceeds from privatization and is being monitored closely by the International Monetary Fund. -- BridgeNews

DAILO

Sep 25, 2000, 07:37 PM

MANILA (AFX-ASIA) - Philippine Deposit Insurance Corp is prepared to offer a 1.5-bln-peso liquidity line to Bank of Commerce when the merged entity reopens, PDIC president Norberto Nazareno said.

Nazareno said the credit facility is intended as a last resort in the event of heavy withdrawals in the first days of operation.

The central bank early today said Bank of Commerce is likely to reopen in December.

Bank of Commerce is the surviving entity in the merger between Urban Bank, Urbancorp Investments Inc, Pan Asia Bank and Traders Royal Bank.

DAILO

Sep 27, 2000, 05:31 PM

MANILA (AFX-ASIA) - Megaworld Corp is in discussions with the Social Security System to be involved in the latter's twin tower project along East Avenue in Quezon City worth up to 2.5 bln pesos, SSS president Carlos Arellano said.

SSS, he said, will be contributing its 4.5-hectare lot where the project will be located.

Megaworld is one of the potential joint venture partners being considered by SSS, he added.

"Some foreign groups have expressed interest in investing in the project. There were also some other local developers and government financial institutions."

DAILO

Sep 27, 2000, 05:33 PM

Prague -- Standard & Poor's, the international credit rating agency, poured cold water on the Philippines' hopes of a sovereign upgrade anytime soon.

David Beers, S&P's head of sovereign ratings, said on the sidelines of the International Monetary Fund (IMF) meetings in Prague that while the economy was "quite robust," President Estrada's administration had "lost its way."

Beers gave a grim assessment on Monday of the Philippines, after meeting country representatives regarding its ratings in early August.

"The Estrada administration has lost its way...It has failed in its impetus for structural reform," Beers said.

This contrasts with Philippines central bank governor Rafael Buenaventura, who in August in response to the meeting said only two key issues stood in the way of an upgrade of Philippines' country credit rating: enacting a law to restructure the electricity sector, and tighter deficit spending.

Buenaventura hinted that at least in the near-term, the country's credit outlook in S&P's eyes would be stable. The long-term foreign currency rating for the Philippines is BB+.

"We were never in the camp of the optimists," said Beers in a frank exchange over the Philippines' credit standing.

"The challenge now (for the Philippines) is to work more aggressively and give a sense of direction for the benefit of investors. That would be a good pl ace to start," he said.

Beers also noted that S&P would want to see a tightening in the country's fiscal policy next year, and terms of its legislative agenda, the Philippines had made "encouraging noises."

"While exports are not as strong as other countries, external indicators are robust. (In terms of a future announcement by S&P), we have to look on the outlook side, not the action side," Beers said. - BridgeNews

DAILO

Oct 2, 2000, 04:01 PM

MANILA (AFX-ASIA) - Share prices closed lower on foreign-led selling of selected blue chips following Wall Street's declines, and on inflation rate concerns after local oil refiners raised their pump prices during the weekend, dealers said.

They said persistent concerns over the direction of the peso, the law and order situation in the southern Philippines, and the budget deficit are keeping investors sidelined.

The composite index closed down 9.33 points or 0.65 pct at 1,425.16 on volume of 583 mln shares worth 806.31 mln pesos.

The All Shares index was down 7.32 points at 675.64.

Decliners led advancers 60 to 8, with 50 stocks unchanged.

"There are concerns over inflation, especially with the increase in oil prices, over the budget deficit and the Mindanao (situation). Internally, we have a lot of problems. I think for the week, the market will break the 1, 400(-point) support," Manny Cruz, chief strategist at Mark Securities Corp, said.

"It's the same string of negative news. It could be because the DJIA and the NASDAQ dropped significantly and there are uncertainties on the peso, and there's the extended problem of Mindanao.

"It could also be because the government failed to secure the International Monetary Fund's approval to raise the budget deficit limit this year," Nina Carpio at Orion-Squire Capital said.

The commercial-industrial index fell 26.72 points to 2,077.13, while property lost 0.73 points to 439.50.

Banking and financial services added 2.04 points to 536.91, while mining fell 23.97 points to 1,470.63. Oil was unchanged at 2.05 points.

The peso averaged 46.230 to the dollar after moving between 46.180 and 46. 250 on volume of 52.000 mln usd. It closed Friday at 46.150.

DAILO

Oct 2, 2000, 04:06 PM

MANILA (AFX-ASIA) - Philippine Seven Corp expects to expand its 150-store retail chain to 500 within the next three to five years, new majority shareholder President Chain Store Corp said.

Philippine Seven and President Chain Store Corp earlier said the latter would acquire 50.4 pct of Philippine Seven, local franchisee of the 7-Eleven store chain, for 8.30 pesos per share. A tender offer is expected to be announced within the week.

"We hope in three to five years' time there will be an expansion of 500 stores in the Philippines. We hope to discuss with (Philippine Seven chairman) Mr Paterno how to (re)invest the profits (from the new stores) in the Philippine economy," President Chain chairman Chin-Yun Kao said in a news briefing.

Each of the stores are estimated to cost 4-5 mln pesos, Philippine Seven chairman Vicente Paterno said. This year the company plans to set up 10 new 7-Eleven outlets, mostly in Manila, he said.

Following the approval of regulators, the President Group will acquire six of the 11 board seats in Philippine Seven, and designate their own representatives to the positions of president and treasurer.

Paterno said among the selling shareholders are the foreign investors of the company who hold 30 pct of its outstanding stock. These include the Walden Group and Singapore's Iona Investment.

Paterno said, however, that he will not divest his 11 pct stake.

Trading in the shares of Philippine Seven, which were suspended today prior to the announcement, will resume tomorrow.

DAILO

Oct 2, 2000, 04:16 PM

The Philippines is getting a bit of a reputation. After the cancellation of a euro-currency transaction in May, a downscaling of a samurai bond in August and an unseemly row between the Departments of Finance and Agriculture over an irrigation bond, there is another hitch. Plans to borrow $400 million in three- and five-year loans from ABN AMRO, Metro Bank and Rizal Commercial Banking have been put off for at least a couple of weeks.

Jose Pardo, secretary of finance said the loan, thought to be at a margin of six-month Libor plus 200 basis points, would be delayed, though he did not give an indication when the fund-raising exercise would be completed. At the IMF/World Bank meeting in Prague on September 28 he said that the IMF had not been convinced by arguments to loosen monetary policy and allow the deficit to overshoot its target. This has given rise to fear that the IMF might withold a $314 million loan.

The country is struggling to meet a budget deficit target of Peso 62.5 billion ($1.35 billion), which had been exceeded in August.

DAILO

Oct 25, 2000, 08:12 PM

Hey PExeR's im back... after a very stressing situation... moving placements, stocks, and currencies around to ensure the highest and safest yield ... we havent seen anything yet... the worse is yet to come...

GREED IS GOOD! :D :D :D

Ira

Oct 26, 2000, 11:52 AM

Does the stock market still exist? :D

DAILO

Jan 23, 2001, 06:53 AM

Hello PExERS! Today was a good day for our market... Stocks and rates are hitting their ceilings making all time highs for the year... Get in on it...

GREED IS GOOD!!! :D :D :D

DAILO

Jan 24, 2001, 02:10 AM

Manila, Jan. 22 -- Philippine stocks soared a whopping record 17.56 percent at Monday's close as euphoric investors trooped back to the market and celebrated the peaceful transition of power in the country over the weekend to new President Gloria Macapagal Arroyo, brokers said.

The 30-share Philippine composite stock index surged 255.13 points to finish at 1,708.06 points.

The main share index flew 34.5 percent to hit an intra-day high of 1,953.63 points minutes after the market opened but later succumbed to some profit-taking.

"A lot of clients started coming back. The buying orders were overwhelming," said Teresa Lee-Jahrling of Tower Securities.

The market's value turnover surged to 7.16 billion pesos (PhP) from PhP1.11 billion Friday. Gainers pounced on losers, 140 to 10 with 11 issues closing unchanged.

Arroyo was sworn in Saturday in a peaceful ending to the political turmoil that began in October last year when fallen leader Joseph Estrada was accused of bribery.

Estrada was on trial by the Senate until last week when the proceedings collapsed after the senators, acting as judges, voted 11-10 to dump key evidence that may prove the graft charges against the former president.

A significant segment of the populace led a bloodless revolt against Estrada which prompted key Cabinet officials and the military to abandon him Friday. Estrada finally stepped down a day later and fled to the recluse of his home in a Manila suburb with his family.

"The political risk is gone and confidence is back. That's why we're seeing this bull run," said Astro del Castillo, head analyst at A&A Securities.

Blue chip gainers included Metropolitan Bank and Trust Co. which rose PhP64.00 to PhP241.00 and Ayala Land Inc. which jumped PhP1.60 to PhP7.10.

Philippine Long Distance Telephone Co. climbed PhP85.00 to close at PhP950.00 while SM Prime Holdings Inc. closed up PhP1.60 to PhP7.00.

Power retailer Manila Electric Co.'s A and B shares rose PhP14.00 and PhP12.50 to PhP59.00 and PhP60.50, respectively.

Tower Securities' Lee-Jahrling expects the upbeat mood to continue during the week but said a technical correction may be in order owing to the market's sharp rise. -- BridgeNews

DAILO

Jan 24, 2001, 03:40 AM

Singapore's DBS bank cautions against excessive Arroyo euphoria

Singapore -- Singapore-based DBS Bank cautioned Monday against excessive market euphoria at the downfall of Joseph Estrada, saying Gloria Arroyo's first 100 days in office will determine investor confidence.

"Arroyo has little choice but to succeed, or else the euphoria in the market will be just a relief rally, nothing more," the bank said in a market research report.

As investors celebrated the weekend replacement of Estrada, with share prices closing 17.6 percent higher after earlier rocketing up 34.5 percent, DBS warned that the new president still had to prove herself.

"What Arroyo does and does not do over the next 100 days will determine how investors view the Philippines over the medium term.

"Judging from the euphoria in the market, the expectations are high, which leaves us cautious about large disappointments."

The DBS report said the Estrada "crisis" exacted a heavy toll on the Philippines, economically, politically and socially, and Arroyo "faces the monumental task of healing the country in all aspects.

"She is likely to have a difficult time uniting the people while bringing economic recovery to the country," it said.

Despite her stellar record in terms of popularity and competence, "the people are still unsure of her ability and integrity as president...many are still wary of her showbiz personality, seeking assurances that she is indeed the smiling, gracious and kindly lady she projects herself to be."

DBS, Southeast Asia's largest banking group, saw Arroyo's campaign promises as lacking a coherent national vision, and said there was a risk of the market over-pricing the hope that she brings to the country.

"We maintain our view that Arroyo is no panacea for the acute challenges confronting the Philippines," the report said.

"Until we get a clearer picture after Arroyo's first 100 days, there is still a risk that the Philippines has stepped out of one woods into another." -- Agence France-Presse from BridgeNews

DAILO

Jan 24, 2001, 03:42 AM

Moody's ratings review on Philippine Equitable not for downgrade

Manila -- International ratings agency Moody's Investors Service issued a correction Monday, saying that the financial strength rating of D for Philippines' Equitable PCIBank was placed under review, not for downgrade, and the review direction was uncertain.

In view of news that Equitable-PCI Bank may be interested in selling a controlling stake to a third party, Moody's said that such review "will focus on the benefits brought by any potential investment partner, and the resulting impact on Equitable-PCI Bank's financial strength. The review will also consider the degree to which on-going political developments in the Philippines, and any failure to consummate a deal, might affect the bank, which has experienced withdrawals in recent weeks. "

The international ratings agency expects that, as the country's third-largest bank, Equitable-PCI Bank will receive strong liquidity support from the central bank, if and when it is needed, and this supports the current deposit ratings.

Equitable-PCI Bank is the Philippines' third-largest bank, with assets of PhP254.8 billion at year-end 1999. -- BridgeNews

DAILO

Jan 24, 2001, 03:42 AM

Metrobank bad loan ratio at 15.56% as of Dec.19

Manila -- Metropolitan Bank and Trust Co. (Metrobank), the Philippines' biggest lender, said Friday its non-performing loans (NPL) hit 15.56 percent of total loans as of December 19 last year, well within the average bad loan ratio of the country's commercial banks last year.

Metrobank said its total bad loans amounted to 29 billion pesos (PhP) during the period.

In a published report, Metrobank said its consolidated assets stood at PhP439.39 billion (U.S. $8.09 billion) while its total capital funds amounted to PhP46.76 billion as of December 19 last year. No comparative figures were given. -- BridgeNews

KuyaDanny

Feb 2, 2001, 08:10 AM

MANILA (Dow Jones)--Shares of Philippine Long Distance Telephone Co. (PHI) are up 0.5% Thursday after the company said it will reduce its rate for outbound international calls to 40 U.S. cents a minute, traders said.
At 0314 GMT (10:14 p.m. EST Wednesday), PLDT shares were up 5 pesos ($1=PHP49.129) at PHP920, on 7,970 shares traded. The stock is doing better than the overall market. The Philippine Stock Exchange Index is already down 1%.

"The rate cut is good for PLDT since it will further allow the company to gain more market share," said a senior analyst at a foreign brokerage house.

PLDT's new rates may challenge main competitior Globe Telecom Inc. (Q.GTL) to lower its call rates to remain competitive.

eli

Feb 25, 2001, 12:13 PM

buy PHILWEB!!! Warrants offering soon, so buy now and get the warrants for free!!!

Carlos Agassi

Mar 10, 2001, 08:49 AM

A recent poll conducted by Audits and Surveys Worldwide for BusinessWorld indicated that business confidence in the Philippines climbed in February for the second month in a row.

The poll, conducted five days before the Supreme Court released its 13-0 decision affirming GMA's legal basis for assuming the presidency showed that the BW-ASW Business Confidence Index rose to 116.4 in February from 100.8 in January, and 70.5 in December 2000.

Carlos Agassi

Mar 10, 2001, 08:51 AM

Jollibee submitted a PSE disclosure confirming that it was in talks to sell 50% of Bakers Fresh Foods Phils, Inc to Delifrance Asia Ltd. Bakers Fresh operates the Delifrance chain in the country.

Management will continue pursuing business restructuring opportunities for Delifrance in line with the new Retail Trade Law allowing foreign strategic investors to own large holdings in retail businesses.

Rambus

Mar 20, 2001, 07:28 AM

The P100 billion franchisers and retailers industry expects a 7% increase in gross sales this year. This will be a welcome development after a 3% decline in 2000. Manuel Siggaoat, the president of the Philippine Franchise Association said retail sales of SM Department Stores/Supermarkets and Rustan's stores rose by 15% in the first two months of the year alone. SM has never seen an expansion this size over the same time period at any point in its history.

This forecast for the retail segment is good news amidst an anticipated slowdown in OFW remittances brought about by massive job cuts in the US.

Carlos Agassi

Apr 8, 2001, 09:32 PM

Consumer confidence index starting to taper

The euphoria that sent consumer confidence to its highest level in January appears to be fading. The BW-ASW Consumer Confidence Index, although still at a relatively high level, is starting to taper off two months after the ouster of former president Joseph Estrada from office.

In a March 24-26 survey by the regional office of New York-based Audits and Surveys Worldwide (ASW) for BusinessWorld, the latest consumer confidence index softened to 125.5 points from 131 points in February. The consumer confidence index has been on a roller-coaster ride in the last seven months, hitting both its all-time low and all-time high since the survey's start in December 1997.

lupuS

May 8, 2001, 09:05 PM

DGTL's plan to to offer cellular services has been delayed. Target launch date is now the first quarter of 2002. Facilities will be supplied by Nortel Networks of Canada. The proposed cellular network will be GPRS-capable.

The capital expenditure budget for the three-year rollout period has been reduced to $190 million from an earlier figure of $250 million. Expected tottal subscriber capacity has also been reduced to 300,000 from an earlier 500,000. The cellular services will be concentrated in Metro Manila and other DGTL service areas in Luzon.

lupuS

May 9, 2001, 01:53 AM

The company announced a 40c reduction in its power rates starting this month after the National Power Corporation trimmed its rates by 20c in April. Starting May, the PPA will be P2.08 per kilowatt hour, or 16.13% lower than the P2.48 in April. The reduced PPA rates will remain in effect as long as NPC does not change its own rates.

This rate cut will have little effect on Meralco's bottom line, since the PPA is revenue neutral. About 98% of the PPA goes to Meralco's electricity suppliers with the remaining 2% collected by the government as franchise taxes.

Carlos Agassi

May 17, 2001, 01:27 AM

JFC announced net income of P217.0 million (P0.215 per share) for the first quarter of 2001, a 4.2% increase from the same period in 2000. Total revenues grew 23.4% from the previous year, to P4.395 billion.

Management said that the mad cow scare did not affect the overall average sales, especially in provincial areas, because JFC has various products into which consumers can shift.

Operating income grew 3.3% to P275.0 million, but was negatively affected by a 15-20% rise in foreign cost inputs from Australia.

JFC recently availed of P850.0 million worth of local currency long term loans at an average rate of 11%, payable in five years. A portion of the loan will fund the completion of the Calabarzon commissary.

New store (opened) targets for 2001 are:

Jollibee Philippines - 40-45
Chowking - 30-35
Greenwich - 15-20
Delifrance - 7-10
International - 10

lupuS

Jun 6, 2001, 01:13 AM

Merrill Lynch won’t close RP operations (http://www.philstar.com/philstar/news200106050734349.htm)
6/5/01

In response to what they described as inaccurate reports in the local Philippine media, Merrill Lynch chairman for Asia Pacific Raymundo Yu said yesterday that Merrill Lynch has a strong franchise in the Philippine market and that the firm has no plans to close its Philippine operations.

Merrill Lynch is one of the Philippines' leading broking, investment banking and wealth management companies.

Merrill Lynch’s Philippine research team was recently ranked No. 1 in Institutional Investor’s All Asia ex-Japan Research Team Survey for the second straight year.

In the first five months of 2001, Merrill Lynch was ranked No. 1 in terms of turnover at the Philippine Stock Exchange with a market share of 7.9 percent.

Merrill Lynch has consistently been a top broker since it commenced operations in the Philippines in 1997.

lupuS

Jun 7, 2001, 12:21 AM

Philippine export receipts for April 2001 slipped 15.8% to US$2.246 billion compared to US$2.668 billion one year ago. Sales of electronics components, which accounted for 48.4% of total exports, plunged nearly 28% to US$1.088 billion from the yearago level of US$1.51 billion. the dismal performance of exports will continue to weigh down on economic output this year.

zimdude

Jun 26, 2001, 06:07 AM

Use this thread wisely, Virtual Tycoon players!

(No, I am not one of them.)

lechon 2000

Jun 27, 2001, 10:29 PM

The BSP reported that total bank loans grew 6.2% in April 2001, from the same month a year ago. This was higher than the March 2001 figure of 5.5%, and the comparable April 2000 figure of 5.1%.

As of end of April, total loans booked by the country's commercial banks reached P1.45 trillion. The fastest growing sector was the electricity, gas and water industries, whose borrowings gre 35.6%. Lending to the manufacturing sector rose 10.5%.

In terms of percentage of total loans, the manufacturing sector borrowed 28.2% of total, followed by financial institutions, real estate and business services with 25.8%. Wholesale and retail trade received 14.1% of the total.

payaSo

Jun 28, 2001, 11:33 PM

PROPERTY RENTS AND PRICES : NEARLY ROCK BOTTOM

Property Indicators: Nearly Rock Bottom
We estimate prime lots in the Makati CBD at an average value of P209,640 per square meter - a further decline of 6% QoQ. Prime CBD land is estimated to be worth half the value of 1997 levels. We expect CBD values to further correct by 14% to the trough average of P180,000 per square meter by the end of 3Q01.

A total of 85,494 license units was approved for sale by the HLURB in the first three months of the year - more than five times those approved in the same period last year. While it may be misconstrued as a sharp recovery, significant growth was due to the low base effect.

Office: After the Elections
CBD vacancy across grades increased to nearly 15% from 12.9% in 4Q00 due to the introduction of RCBC Plaza. Consequently, Premium-grade vacancy has peaked at 32.4% from the previous quarter's 10.2%.

The weighted average rents in the Makati CBD stands at P373 per sq.m. per month - a QoQ decline of 6% from P397 per sq.m. per month. Measured from the current cycle's peak rent, the weighted-average stands at a 42% discount. Expectations are for rents to further correct by 7% to a weighted-average rent of P347 per sq.m. per month.

Residential: All Set for New Launches
Megaworld recently launched Greenbelt Radissons in 1Q01. Located along Aguirre Street in Legaspi Village, 262 condominium units are being offered to the market. With a predominant configuration of studio units, prices start at P2.508 million for a 34-square meter studio unit.

Rents for prime 3BR in the Makati CBD further softened by nearly 2% to an average of P363 per sq.m. per month. Meanwhile, prime 3BR apartments in Rockwell are being transacted at a range of P90,000 to P150,000 per unit per month. Preference from the expatriate community continued to push average rents to P530 per sq.m. per month - a premium of nearly 30% from comparable developments in the CBD.

Retail: Missing Election-Related Spending?
While analysts were anticipating for a sharp upturn from election-related spending, there is little evidence to suggest this in the course of 1Q01. In fact, broad economic indicators such as monetary movements failed to show significant statistical difference between election and non-election years.

Click here for the full report from Colliers Jardine (http://www.colliersjardine.com.ph/fr_market_local.html)

Bats

Jun 30, 2001, 12:24 AM

Hi! I wanna start a career in trading stocks, can anyone show me the right way?

Where can i apply for a job in this field?

Thanks!

payaSo

Jul 13, 2001, 02:55 AM

San Miguel Corporation has confirmed that it was in discussions with RFM COrporation for the acquisition of RFM's entire 85% stake in Cosmos Bottling Corporation. However, no agreement has beenr eached as to the pricing and other structures of the deal. The acquisition of Cosmos would make SMC the dominant player in the local soft drinks industry, with 90% of the market. SMC's Coke and related products account for 65% of the market, while Cosmos has a market share of 25%. The acquisition price rumored to be P14.5 billion has not been confirmed by either party.

lupuS

Jul 17, 2001, 04:08 AM

SINOPHIL CORPORATION ("SINO")

FURTHER TO MEMO FOR BROKERS NO. 178-2001 DATED JULY 6, 2001, PLEASE BE INFORMED THAT SINO, AS OF TODAY, IS NOT IN COMPLIANCE WITH THE STRUCTURED REPORTORIAL REQUIREMENTS OF THE EXCHANGE FOR FAILURE TO SUBMIT ITS AUDITED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED DECEMBER 31, 2000 AND PAY THE BASIC AND DAILY FINES.

IN VIEW THEREOF, THE EXCHANGE SHALL IMPLEMENT TRADING SUSPENSION ON THE SHARES OF SINO TODAY, JULY 16, 2001, UNTIL COMPLIANCE WITH THE AFORESAID REQUIREMENT IS MADE.

- Thanks to CitisecQuote.com

lupuS

Jul 20, 2001, 12:18 AM

Foreign brokerage BNP Paribas Peregrine Securities Inc yesterday filed for temporary suspension of operations at the Philippine Stock Exchange.

A number of brokers have already taken a break from the market citing the present fragile conditions.

Foreign brokers which have taken a holiday from the market since last year included Sun Hung Kai securities, OCBC Securities, Orion Squire Capital Inc, Nomura Securities, UOB Securities, and Securities 2000, Inc.

[i]- BusinessWorld

lupuS

Jul 31, 2001, 01:00 AM

Globe Telecom Inc reported that its Phase 8 Expansion project is proceeding on target. The project is expected to boost Globes mobile capacity to more than 7 million users by December 2003. It eill involve the installation of nearly 1,000 new cellsites, 37 base stations and 17 mobile switching centers over the next 2 1/2 years.

The project will allow the company to take in 3.9 million new subscribers and will cost P39.8 billion. Of this amount, P14.0 billion will be borrowed while the rest will be funded by internally generated cash. The project has been granted pioneer status by the Board of Investments.

blue[]ce

Nov 6, 2001, 01:30 AM

bump :)

richyuppie

Jan 8, 2002, 04:00 AM

International Container Terminal Services, Incorporated (ICT) increased its share price this morning from 2.20 to 2.55 in about 15 minutes!!!

Greed is good, indeed!

Spyfrat

Jan 8, 2002, 06:29 AM

rumored 1.50/share cash div

naalala ko 2loy ang galing naman nang timing nang mga poren brokers mag sara last yr, yung index nasa 1k level hehe
:rolleyes:

abcxyz

Jan 8, 2002, 05:18 PM

any good IPOs in the horizon?

whats the speculator's favorite stock now?

Spyfrat

Jan 8, 2002, 06:29 PM

citystate mag ipo but dunno if it's a gud bet. i refrain myself kasi from any funny analysis, purely ta lang ako.

mga specs fave sa ngayon are ict & ebc. rfm is a gud punt too basta set stop lang palagi. there's no hoping & wishing sa stock market, kung cut, no hesitation, cut agad. wala nang pero pero.

OT: New Bull Market for the Nasdaq?

if u have time pls visit the charts i posted at my site. thx.

richyuppie

Jan 8, 2002, 11:44 PM

According to an article in the Philippine Star yesterday, the SEC is targeting at least 24 companies to list in the PSE this year. Citistate Saving Bank (CSB), who went on public last January 3, was the first one this year. There are at least two oil companies - Pilipinas Shell and Caltex Philippines - that have been planning to list at the PSE. Both companies have done their due diligence review and are only waiting for the market to improve.

Indeed!

richyuppie

Jan 9, 2002, 10:51 PM

ICT opened at 2.46 and closed at 2.70.

Greed is good, indeed!

richyuppie

Jan 17, 2002, 03:45 AM

FLI opened at P 1.94 and in 3 minutes, went 3 fluctuations higher to P 2.00! It closed at P 2.08.

Greed is good, indeed!

mac_bolan00

Jan 17, 2002, 11:29 PM

sino sa inyo marunong mag-tsupita? say, 3.0 million worth in one session?

richyuppie

Jan 17, 2002, 11:45 PM

Why mac_bolan00? I think ALL active traders are tsuputeros.

Indeed!

Spyfrat

Jan 18, 2002, 07:37 AM

mac, ilang brokers gagamitin? *wink*

mac_bolan00

Jan 18, 2002, 06:04 PM

with 1-5mn traded in one session, are there still guys who could net at least 150k

abcxyz

Jan 18, 2002, 07:19 PM

where is globe going to?

Spyfrat

Jan 18, 2002, 10:05 PM

Originally posted by mac_bolan00
with 1-5mn traded in one session, are there still guys who could net at least 150k

US na lang roughly $97k yang 5M, trade ka QQQ, bigyan ka around 60% na may margin. kulang volatility dito sa atin, kapag ganyang kalaki in one session (5M) e daytrade mo, kulang sa volatilty na, kulang sa time pa (9:30am-12:10pm). not viable kung ** e trade ang 5M in one session. sa iba dunno lang, baka mas tsupetero *** hehe

richyuppie

Jan 20, 2002, 12:35 AM

abcxyz, here are the graphs of GLO, GLOW, and GTHP courtesy of technistock.com (http://www.technistock.com/) :

Globe Telecom, Inc. (GLO)

richyuppie

Jan 20, 2002, 12:44 AM

Globe Telecom, Inc. – Class “A” Warrants 2002 (GLOW)

richyuppie

Jan 20, 2002, 12:45 AM

Globe Telecom Holdings, Inc. Phil. Deposit Receipts (GTHP)

richyuppie

Jan 24, 2002, 03:24 AM

The stock market is going crazy now. Invest now before the bus leaves you.

Greed is good, indeed!

Spyfrat

Jan 24, 2002, 12:50 PM

foreign brokers bailed out when the index broke 1k, p6 then find temporary bottom at 980ish. foreign brokers spurs heavy buying at 1100ish when warburg started aggressive buying of bpi (he is still now). chart wise the p6 have made a clean breakout at 1300. but there's a catch. 1st attempt breakouts are emotionally driven, and is very short term in nature. ist attempt breakouts are weak. looks toppish for now, i rather wait for a correction. jmho.

richyuppie

Jan 26, 2002, 04:05 AM

Exactly spyfrat! A correction will take place anytime soon. However, the Abu Sayyaf will also be destroyed anytime soon. So expect the correction to be short lived, and the index will again surge up after the Abu Sayyaf bandits are eliminated.

Indeed!

matbike

Jan 27, 2002, 03:27 AM

Originally posted by richyuppie
Exactly spyfrat! A correction will take place anytime soon. However, the Abu Sayyaf will also be destroyed anytime soon. So expect the correction to be short lived, and the index will again surge up after the Abu Sayyaf bandits are eliminated.

Indeed!

When do you see the correction coming? Down to what level? How short will that be?

Hey Spyfrat and richyuppie, maybe you can help me out. I'm trying to look at the charts, and I dont see any pattern, hehee, in fact, I'm more confused than before. To much information. Tips naman please on how to read the charts? How to you establish the pattern. Thanks you very much

richyuppie

Jan 27, 2002, 05:45 AM

matbike, it’s really hard to understand everything about the graphs. There are so many methods, techniques, tools, etc. In fact, if you apply them all, they would all contradict each other. Also, there’s nothing wrong if you don’t understand the graphs. WE ALL STARTED THAT WAY! Moreover, you won’t learn everything in one day!

In a graph, the first thing that you should look are the support and resistance lines. The Support Level is a trading price level at which a market is expected to halt its declining trend and from which prices are expected to move higher at best or sideways at worst, while the Resistance Level is a trading price level at which a market is expected to halt its rising trend and from which prices are expected to move lower at best or sideways at worst. To make it simple, make an imaginary line connecting the highest peaks of the graph, as well as an imaginary line connecting the lowest points of the graph. The top line is the resistance level and the lowest is the support level. The basic rule is BUY AT SUPPORT, SELL AT RESISTANCE.

If you have already checked www.technistock.com , there are Technical Analysis tools there to help you interpret the graph. As I mentioned in another thread (on How to Invest? (http://www.pinoyexchange.com/forums/showthread.php3?s=&postid=1860321&t=7222#post1860321) ), the Relative Strength Index (or RSI) is one of the most used and reliable tools in analyzing the graphs. The RSI has lines at 30 (oversold) and 70 (overbought). A reversal under or on the oversold level is a buy signal, while a reversal over or on the overbought level is a sell signal. Though not 100% accurate, it’s reliable.

Indeed!

eli

Jan 28, 2002, 04:47 AM

EBECOM, CMP... UP UP AND AWAY!!!!

Spyfrat

Jan 28, 2002, 09:04 PM

i think what the market is trying to do is discounting the abu. usually in an emotionally driven breakout (1st attempt), greed takes in, this where smart money takes profit. What we are going to see next are ANALyst making downgrades and stuffs like that. It's very common practice in the US.
I see an inverted (reverse) head & shoulder formation on the daily chart (kinda unsual coz of the degree of head bottom against the left shoulder). If the right shoulder would take place, target for correction would be at the lower 1200's to higher 1900's. But since it's a weird rev H&S, a probable pattern would be cup & handle (with a little noise on that 1st attempt breakout). Target of correction is at 1200-1240. I must admit though P6 is very strong since it bottomed at 980's (after the fact.) The bearish wedge on the daily chart was taken with force. Downtrend line (daily) was broken too.

richyuppie

Feb 1, 2002, 04:48 AM

matbike, try to check the PHISIX graph that Spyfrat attached above. You’ll see that he drew a lot of parallel lines to determine its support and resistance levels. Trends are registered in price movements. Trends repeat and recur but in different manners. Price has memory. What did price do the last time it hit a level? Chances are, it will do again.

Indeed!

matbike

Feb 1, 2002, 10:20 PM

Originally posted by richyuppie
matbike, try to check the PHISIX graph that Spyfrat attached above. You’ll see that he drew a lot of parallel lines to determine its support and resistance levels. Trends are registered in price movements. Trends repeat and recur but in different manners. Price has memory. What did price do the last time it hit a level? Chances are, it will do again.

Indeed!

Thanks richyuppie and Spyfrat.

Checked. I also took a look at Spyfrat's homepage, hope he doesnt mind.

Anyway, do you know RSI is computed? What are the variables?

richyuppie

Feb 2, 2002, 01:46 AM

matbike, I posted the formula for the RSI in another thread, How to Invest? (http://www.pinoyexchange.com/forums/showthread.php3?s=&postid=1886233&t=9047#post1886233)

Indeed!

richyuppie

Feb 6, 2002, 03:51 PM

What can you say about the longer trading hours (the afternoon session), which would start next Tuesday, February 12 (Lunar New Year)? Do you really think this is necessary? Does longer trading hours guarantee volume? Post your opinions, comments, and even objections about this topic.

Spyfrat

Feb 6, 2002, 07:14 PM

matbike sure no problem, problem ko lang sa site is that tamad ako mag update :glee:
before nag uupdate ako nang p6,us-dollar,saka gold pero mali analysis ko kaya stop ko na bwehehe kiddin aside kulang sa oras. dati i have Phisix's Closet (for local market, which i plan changed to PhiSEX in the City), Dow Jones Creek (US market) and Schindler's Link (mga pacontest sa stk market na link).

rich, d ako favor sa longer hours, kasi we're a small market lang kung baga. i don't think na tataas ang volume sa ganitong idea, depende sa market yan. maboboring lang investors i think. if they wanted to attract more volume they better scrap some taxes. if they wanted to attract daytraders just to increase volume, scrap all charges excluding broker's comm (hehe), then tax lang sila sa net gain, kung talo yung daytrader no tax.
favor ako sa longer hours if they allow short selling (kahit d pa nila bawasan ang tax).

matbike

Feb 7, 2002, 01:43 AM

Originally posted by Spyfrat
matbike sure no problem, problem ko lang sa site is that tamad ako mag update :glee:
before nag uupdate ako nang p6,us-dollar,saka gold pero mali analysis ko kaya stop ko na bwehehe

pansin ko rin eh, hehehe...

richyuppie, ako oks lang sa kin i-extend ang trading hours, bago pa lang ako kaya wala pa kong idea pa ako kung ano possible effect nun. salamat nga rin pala dun rsi formula. mas pabor ako dun sa proposal ni spyfrat, no more add'l charges and taxes

richyuppie

Feb 7, 2002, 03:49 AM

spyfrat, I’m also not in favor of the afternoon trading session. It does not guarantee volume. YUP, you and matbike are right. They should lower these stupid tariff rates. It’s the number one complain of foreign investors here. As far as I remember, we offer the second highest surcharge of securities here in our the region.

Indeed!

Fish

Feb 12, 2002, 12:34 AM

How is the Philippine market doing in terms volume and volatility, and in comparison with other Asian markets, say China or Singapore?

Nasdaq is known to carry almost all of the better techstocks. Any good techstocks trading in our local market? How good are they doing performance-wise?

jpljon

Feb 12, 2002, 12:53 AM

the philippine stock market is one of the best performing bourses this january and hopefully february too. just like last year, january was one of the bullish months pero it became downhill with slight runs in june pero bearish the whole of 2001.

the stability of the capital market is dependent on the political and economic front. if no serious problem hits the govt this first semester, then the outlook for the economy and the capital market is optimistic.

nasdaq and nyse has been on the downtrend since last week. when will it stop?

:cool:

Spyfrat

Feb 12, 2002, 11:04 PM

p6 was the best performing bourse as per bloomberg report, korek. and d sinabi, p6 hit a 10 yr low nung nov 2001 at 980's. percentage wise, any dramitic rebound would put any bourses same fate as the p6.

fish, easily manipulated ang volume natin **. there are issues such as omico warrant & web warrant that tends to put noise on volume turnover of the p6. buying 100M shares of omico warrant (OMW) alone can put noise to the volume transaction of the p6. said buying cost (excluding all charges) P140k at today's current price of OMW. i don't put any serious weight on volume. value turn-over is a much good indicator.

richyuppie

Feb 16, 2002, 07:33 PM

Here we go peeps, starting February 20, Wednesday, we would be having an afternoon trading session. There would be a lunch break at 12:00 to 1:00, then normal trading resumes from 1:00 to 2:30. Honestly, I don’t like the idea and I’m not in favor of it.

Indeed!

Fish

Feb 23, 2002, 11:45 PM

Originally posted by Spyfrat
fish, easily manipulated ang volume natin **. there are issues such as omico warrant & web warrant that tends to put noise on volume turnover of the p6. buying 100M shares of omico warrant (OMW) alone can put noise to the volume transaction of the p6. said buying cost (excluding all charges) P140k at today's current price of OMW. i don't put any serious weight on volume. value turn-over is a much good indicator.

Why not put importance in volume? An unusually large volume usually means buyers and sellers are reacting to some new information, right?

richyuppie

Feb 24, 2002, 10:18 AM

Fish, of course, volume is also important, but the value turnover is more relevant. Just like what Spyfrat said, for some issues such as Omico Warrants (OMW) who’s current market value is 0.14, buying 100M shares would only cost you P 140,000, while buying 1,000 shares of PLDT (current market value is P 490) would cost you P 490,000. The volume is important for individual issues, to check if the stock is gaining activity or being traded more frequently or not. A non-active stock that slowly gains volume would mean some movements in its price, but not all the time. Usually, big volume kills moves. That is why blue chips and the most active stocks rarely makes it to the top gainers or losers chart. When too much trading is done on a particular issue, it usually does not fluctuate that much. When a second and third liner stock that became active and suddenly decreases its volume, it is advisable to pull it out or sell it, or you will have a hard time getting out of it.

But if you’re going to look at the overall picture, I mean how the whole market did as a whole, you should look at the value turnover.

Indeed!

Fish

Feb 24, 2002, 12:02 PM

Well said and greatly appreciated. Thank you.

richyuppie

Mar 2, 2002, 01:48 AM

Afternoon trading sucks!!!

Indeed!

richyuppie

Mar 3, 2002, 10:31 AM

Hot tip from www.philstocks.net :

Sell International Container Terminal Services, Inc. (ICT)!

International Container Terminal Services, Inc. (ICT) made a sell signal on its kagi charts last week. The stock has been consolidating near the P3.00 level and appears ready to breakout from its tight range. On the bigger picture, the stock seems to have formed a classic double top with less conviction on the second top as volume is thinner. The stock’s initial support is at P2.70, a break of the support will pull the stock down all the way to P2.20. Sell.
Indeed!

johnnydlc

Mar 4, 2002, 04:36 AM

good time to pick ict then.

also if the market has some jitters re: erap issue, good time to pick up when it goes down.

richyuppie

Mar 6, 2002, 03:50 PM

Tip from www.philstocks.com on Equitable – PCI Bank (EBC)

Share prices of Equitable-PCI Bank (EBC) formed a negative divergence with its relative strength index. EBC’s share price has been in an uptrend and had made higher highs. However, this was not confirmed by the stock’s relative strength index, which recently made a new low. Moreover, EBC’s upside potential doesn’t look too promising with its exponential 250 day moving average providing strong resistance at P33.50. Take profits.
Indeed!

richyuppie

Mar 7, 2002, 04:24 PM

Tip from www.technistock.com on Sunlife Financial Services of Canada (SLC):

Sunlife Financial Services of Canada (SLC) broke out from its major resistance of P1,050 yesterday. As a result, the stock made a buy signal on its kagi chart. The only draw back on trading the stock is the relatively thin volume accompanying the breakout. Nonetheless, the stock could be worth a play with the next resistance level of P1,200 providing a decent potential profit. Place a stop loss at P1,050.00 Trading buy.
GREED IS GOOD, INDEED!

eli

Mar 7, 2002, 05:17 PM

any news on ATN Holdings?

its moving straight up lately... comments? ;)

richyuppie

Mar 9, 2002, 11:43 PM

eli, ATN holdings, Inc has this rumor of an supposed tie-up with CBCP. KGI Securities is really pushing the issue up, and it also has these rumors of a P 5.00 and P 10.00 target. I bought one for my client last Tuesday at P3.00 and quickly posted it at P3.25 (done in less than 30 minutes). Its oscillators are overbought, and it’s too risky now to enter it. Remember IS (Island Info and Tech) when it reached 0.09? There are rumors that they will push the stock up to 0.20, but at that time, it’s RSI has reached the 90s level. I know some people who bought at this level, even though I told them to wait for it to correct around the 0.065 level. About ATN, I think it’s safe to wait for a correction, before buying it.

Indeed!

richyuppie

Mar 10, 2002, 12:00 AM

Tip from www.philstocks.net on Filinvest Land Inc. (FLI)

Filinvest Land Inc. (FLI) made a kagi sell signal yesterday. Interest in the stock has been reeling after the controversy behind its recent convertible bond issue. If the selling signal is maintained, the stock can go down to its support level of P1.94. Look to accumulate once the support level manages to hold. Buy on weakness.
GREED IS GOOD, INDEED!

richyuppie

Mar 13, 2002, 01:40 AM

Tip from www.philstocks.net on the Bank of the Philippine Islands (BPI)

The Bank of the Philippine Islands (BPI) is having a hard time breaking out of its P70.00 resistance level. The stock may correct for the meantime as its share price has formed a negative divergence to its downward sloping relative strength index. Initial support is seen at P65.00. Test the support level before considering buying on dips.
GREED IS GOOD, INDEED!

richyuppie

Mar 13, 2002, 01:47 AM

Tip from www.philstocks.net on Petron Corporation (PCOR)

Negative divergences are becoming frequent in the market and Petron Corporation (PCOR) is no exception. Share prices of PCOR formed a negative divergence as its relative strength index made a new low. At present, PCOR is hovering above a key support of P1.76. A breakdown of the support should merit a sell.
GREED IS GOOD, INDEED!

richyuppie

Mar 13, 2002, 07:03 AM

Stock Analysis on Empire East Land Holdings, Inc. (ELI)

Empire East Land Holdings, Inc. (ELI) should be able to ride on the benefits derived from the prevalence of low interest rates. Such benefits should help the company reverse the declining trend in its bottomline earnings by registering a 2002 net income of P158.44 million. The stronger year-on-year performance can also be attributed to the higher booking of revenues.

Revenue Driven
The company has recently been more successful in pre-selling their units. In the past, its tie up with banks for buyers' financing has enabled it to offer longer and more flexible terms, helping it recover from the slump in sales since the Asian crisis. Now with a stronger balance sheet, a large portion of the company's pre-sold units have been in-house financed. The company offers lenient payment terms, making it more affordable to buyers. Going forward, the company should be able to book more sales as most of its projects should already be in their advance stages of construction. The company recognizes sales on residential and condominium units using the percentage of completion method. Potential future revenue drivers will be its on-going projects like Greenhills Garden Square, California Garden Square and Xavier Hills. The company's latest project is the Cambridge Town in Pasig-Cainta. The 7.4 hectare project is composed of clusters of residential buildings and caters to the class B and C markets. ELI's partnership with Megaworld Corporation (MEG) has also provided ELI with additional income from Central Business District, Eastwood City. ELI is the landowner of Eastwood City. With Megaworld as developer of the commercial center and condominium units there, ELI is given a share in the project as payment for the land.

A Healthier Balance Sheet
After undergoing a massive restructuring of debt and capital structure, ELI has emerged a stronger company with a debt to equity ratio of 0.36 from a peak of 0.64 in 1997. It has raised additional capital through private placements of common and preferred shares amounting to P3 billion. It has also converted some preferred shares and loans to common shares amounting to P500 million. The company has been prudent in managing its financial resources, steering clear of potential foreign exchange losses by having no foreign denominated loans. The company's debt management has helped improve the market's perception of the company. Its stronger financial standing will also help the company face uncertainties that may erupt in the future. Most importantly, the stronger balance sheet will allow growth without the need to further dilute the existing shareholder's equity capital

TECHNICALS
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Resistance - 0.35, 0.42, 0.54
Support - P0.30

Volume indicators reflect moderate flows into ELI (mildly bullish) while trend forecasting oscillators are currently bullish on the stock. ELI's 250 day moving average is close to flattening out and the price has recently penetrated the said moving average line. ELI is currently 25% above its 250-period moving average and is in an upward trend. This normally comprises a major buying signal. However, the said moving average has not totally flattened out as it still has a small downward slope. This suggests a medium to long-term bullish scenario and neutral scenario for the short term. The stock is currently testing a major resistance of P0.35 and should likely consolidate at this level rather than continue its run up. The current slope of the close is positive moving lower indicating weakness or a slowdown of the medium term uptrend. The stock has also closed above the upper band of its 14-day period bollinger band by 1.8%. Although this would suggest that the upward trend in prices has a good chance of continuing, a short-term pullback inside the bands is likely. Volatility is high as compared to the average volatility over the last 10 periods. There is a strong chance that volatility will slow as the stock consolidates. This has been confirmed by the emergence of negative divergences between the share price and various momentum oscillators. Once the stock undergoes a healthy consolidation and breaks out from its P0.35 resistance level, it can go to P0.54, which is the target of an inverted head and shoulder formation. On the other hand, the immediate downside risks are small with support seen at P0.30, where the 250-day moving average line is currently at.

Recommendation
The property sector has a high correlation to the economy's performance, the cost of borrowing and the level of disposable income. And now that the country has achieved a comfortable level of political stability and renewed confidence, we are recommending a buy on ELI. The prevailing low interest rate will bring about liquidity from the financial system and would thus increase the source of funding for housing. ELI's low to middle income housing segment is an immediate beneficiary of such positive conditions as it caters to the salaried employees, who were hounded in the past by high interest rates and job stability. Its relatively healthy balance sheet and improving fundamentals, coupled with its low valuation provides some strong support for the stock at its current levels. The price is trading at projected 2002 earnings of 15.4x against the industry average of 26.0x. Its price to book of 0.17 also makes it a bargain among its peer companies.

richyuppie

Mar 14, 2002, 05:02 AM

Tip on First Philippine Holdings (FPH)

First Philippine Holdings (FPH) penetrated a key support level of P31.50 today. It recently failed to convincingly breakout from a potential double top formation partly due to the drop in the share prices of Meralco (MER A/B). If the stock sustains its drop, support should be seen at between the P28.50 and P27.00 level. Take profits.
GREED IS GOOD, INDEED!

richyuppie

Mar 15, 2002, 04:48 AM

Tip on Manila Electric Company "A" (MER)

Meralco “A” (MER) has slipped below its major support level of P30.50 yesterday. This doesn’t bode well for the stock as its momentum indicators are also showing further weakness. The stock’s next major support level is at P28.00 and P25.00. Take profits.
Greed is Good, Indeed!

eli

Mar 29, 2002, 12:31 PM

This stock is a STRONG BUY. A subsidiary, Highlands Prime, is scheduled to have an IPO. Proceeds of the IPO will wipe out BEL's debt.

Buy! This stock is goin to FLY UP UP AND AWAY !!!:)

richyuppie

Mar 31, 2002, 04:53 PM

Tip on the Philippine Long Distance Telephone Co. (TEL)

The Philippine Long Distance Telephone Co. (TEL) made a buy signal on its kagi charts last week. However, the stock’s immediate upside is capped by its 250-day exponential moving average at P550.00, which is serving as its intermediate resistance. Neutral.

GREED IS GOOD, INDEED!

richyuppie

Mar 31, 2002, 04:54 PM

Tip on Digital Telecoms Phils., Inc. (DGTL):

The point and figure chart of Digital Telecom Phils., Inc. (DGTL) are showing declining tops and is about to break a major support level at P0.68. DGTL also made a sell signal on its three line break charts last March 14, 2002. Initial support is at P0.64 while the next major support is at P0.62. Take profits.

GREED IS GOOD, INDEED!

richyuppie

Mar 31, 2002, 04:56 PM

I heard from some traders from Tektite that they are gonna push up the price of Cyber Bay Corporation (CYBR) this week.

GREED IS GOOD, INDEED!

richyuppie

Apr 4, 2002, 11:37 AM

Tip on Ayala Corporation (AC):

Ayala Corporation (AC) seems to be breaking down from a descending triangle formation. It breached it’s major support of P6.50 twice last month and closed below that last March 27. However, the stock has ample support at the levels of its exponential 50 day moving average. The stock is about to make a move as shown by it’s recent strong volume. However, it remains to be seen where the stock would go. Neutral.

Greed is Good, Indeed!

richyuppie

Apr 4, 2002, 11:45 AM

Itogon Suyoc Mines "A" (ISM):

Share prices of Itogon Suyoc Mines “A” have diverged from its indicators. As the stock has formed a bullish ascending, its relative strength index and commodity channel index have made higher highs. This is a sign of impending strength although the stock has to breakout from its horizontal resistance at P0.044. On a longer term basis, the chart looks bullish as it is forming the handle from a cup and handle formation. Buy the breakout.

Greed is Good, Indeed!

richyuppie

Apr 4, 2002, 11:51 AM

Tip on ABS-CBN Broadcasting Corp. (ABS):

ABS-CBN Broadcasting Corporation (ABS) is showing some semblance of strength on its point and figure charts. The stock has been forming higher highs and higher lows. However, the stock may have to hurdle its P37.00 resistance before a stronger buy can be recommended.

Greed is Good, Indeed!

Spyfrat

Apr 5, 2002, 01:24 AM

Originally posted by richyuppie
Itogon Suyoc Mines "A" (ISM):

Share prices of Itogon Suyoc Mines “A” have diverged from its indicators. As the stock has formed a bullish ascending, its relative strength index and commodity channel index have made higher highs. This is a sign of impending strength although the stock has to breakout from its horizontal resistance at P0.044. On a longer term basis, the chart looks bullish as it is forming the handle from a cup and handle formation. Buy the breakout.

Greed is Good, Indeed!

Thanks Richdude. C&H is a great formation, however in the event it failed to breakout on its 3rd attempt (on the handle), be advice to be very cautious and implement a tight stop sell (if u have a long position). 3rd attempt failure on C&H are very bearish in nature.

vts

Apr 5, 2002, 05:29 AM

Hi guys!

Its my first time to post here. You 've probably heard of BDO's upcomming IPO...

Just like to get your opinions on whether its valuations are reasonable and if its a good buy or not.

Thanks

vts

richyuppie

Apr 5, 2002, 02:14 PM

International Container Terminal Services, Inc. (ICT)

After going flat for a couple of weeks, International Container Terminal Services Inc. (ICT) is about to begin a new trend. Its bollinger band, which recently narrowed substantially, has started to show some volatility. Base on its various oscillators, the new trend seems to be up for the stock. Buy back.

Greed is Good, Indeed!

johnnydlc

Apr 6, 2002, 07:53 AM

where can i get bdo ipo? what is the short and medium target for bpi?

richyuppie

Apr 19, 2002, 10:10 AM

(Sorry peeps, I have not visited PEx for almost two weeks now. I’ve been very busy lately, in both business and pleasure. Anyway, I’ll post www.philstocks.net’s tips last week.)

Ayala Land, Inc. (ALI) (9 April 2002)

Ayala Land Inc. (ALI) looks like its ready to go over the roof. The stock recently breached its recent high of P7.20 via a big bullish white candle on strong volume. The MACD oscillator also gave bullish signals as it has stayed above zero and it also made a buying crossover. This breakout needs to be filtered out in terms of staying power, as the rest of the market has been dull. Resistance levels are at P7.70 and P8.20. Accumulate.

Filinvest Land, Inc. (FLI) (10 April 2002)

Filinvest Land Inc. (FLI) has formed a bullish inverted head and shoulder formation. However, we have to wait till the stock convincingly breaks out of its neckline at P2.40. The stock may consolidate at its current levels before breaking out. This is being shown by its oscillators. Neutral.

Digital Telecommunications Phils., Inc. (DGTL) (11 April 2002)

It is time to take profits off Digital Telecommunications Phils., Inc. (DGTL). DGTL formed a bearish head and shoulder top. The stock recently breached its neckline support and may be headed to the P0.60 level. Its relative strength index also confirmed this bearish pattern by making new lows.

Greed is Good, Indeed!

richyuppie

Apr 19, 2002, 10:23 AM

Tips from www.philstocks.net this week:

SM Prime Holdings (SMPH) (April 15, 2002)

SM Prime Holdings (SMPH) is hovering near its key support level of P6.20. Pressure seems to be mounting on the downside as the stock formed a bearish big black candle last Friday. The stock’s stochastic indicator also made a crossover sell after it failed to sustain its run beyond the bullish 70 level. The next support level for the stock is at P5.80.

JG Summit Holdings (JGS) (April 16, 2002)

JG Summit Holdings (JGS) broke a major support of P1.84 last week. The stock also broke down from its major long and short term moving averages. The next support level for the issue is at P1.64. Avoid.

Ayala Corporation (AC) (April 17, 2002)

Ayala Corporation’s (AC) long term bullish inverted head and shoulder formation has remained intact. The stock has held on to the support level of P6.00, which correspond to the right shoulder. The key levels to watch out for will be the P6.00 support and the P7.00 neckline. Neutral.

Petron Corporation (PCOR) (April 18, 2002)

Petron Corporation (PCOR) formed a bullish engulfing pattern to address its sliding share price. The bullish formation confirmed the support provided by its 250-day moving average and has prevented the stock from sustaining its breakdown from its P1.76 major support. On top of this, the stochastic oscillator has also made a buy signal the other day. Accumulate.

Greed is Good, Indeed!

fatbig

Apr 20, 2002, 06:46 AM

banco de oro's doing an IPO in May. is this a good investment?

richyuppie

Apr 23, 2002, 04:36 PM

The PHISIX:

The PHISIX’s bullish inverted head and shoulder formation is no longer valid. The main index’s break down of its crucial 1,390 support, which should’ve been the right shoulder. With this development, the PHISIX’s next support level is at 1,360, where it may form a double bottom. A breakdown beyond the double bottom will see it at its last stand of 1,300. Stay alert.

Greed is Good, Indeed!

ach_soo

Apr 24, 2002, 01:53 AM

Who of you follow the Nasdaq? Any word on ADSX?

:)

Spyfrat

Apr 24, 2002, 02:34 AM

cge try ko include sa site adsx :)

richyuppie

Apr 24, 2002, 01:08 PM

Philippine Long Distance TelepHone Co. (TEL):

April 23, 2002

Philippine Long Distance Telephone Co. (TEL) made a kagi sell signal yesterday. Moreover, the stock breached a major support level of P490.00 on rising volume. These bearish signals points to a possibility that TEL will fall back to the P440.00 level. Prepare to sell once the stock fails to rebound back above the P490.00 level in the next couple of days.

Greed is Good, Indeed!

Fish

Apr 24, 2002, 01:37 PM

Hmm...

richyuppie

Apr 25, 2002, 10:54 AM

Ayala Corporation (AC):

Ayala Corporation’s (AC) long term bullish inverted head and shoulder formation is now in dire straits. The stock has got to stay above its current levels for the bullish formation to remain valid. At P6.00, the stock is hovering above several key trend lines. A breakdown tomorrow will see the stock testing the P5.10 support level. Sell once it breaks down.

Greed is Good, Indeed!

Spyfrat

Apr 26, 2002, 02:29 AM

Originally posted by johnnydlc
where can i get bdo ipo? what is the short and medium target for bpi?

u the same guy at ids? :)

richyuppie

Apr 26, 2002, 08:48 AM

SM Prime Holdings (SMPH):

SM Prime Holdings (SMPH) managed to overcome the negative tone that prevailed ten days ago. The stock has held on to its P6.20 support level, which corresponds to its 250 day exponential moving average. Volume has been strong at its present price, signifying some demand above the P6.00 level. SMPH’s stochastics and commodity channel index are also beginning to rise from their oversold levels. A word of caution though, we should still be wary of the support level until it is successfully tested.

Greed is Good, Indeed!

richyuppie

May 1, 2002, 09:12 AM

San Miguel Corporation "B" (SMCB):

San Miguel Corporation “B” (SMCB) touched a major support at the P56.00 level. It also briefly touched the 250 day moving average at P55.00. The stock penetrated these support levels but quickly whipsawed back. It formed a bullish white candle yesterday, further solidifying the potential bottom for the stock. Initial resistance level for the stock is at P61.00. Accumulate

Greed is Good, Indeed!

Spyfrat

May 1, 2002, 02:42 PM

apologies sa sino mang pumunta sa site, lately yung nasdaq, extr & tyco links palaging na hahacked. may advisory na po ako dun. local stocks and teh phisix included rin sa site. the blues like ac,smcb,fph,merb,ict,ebc nandun rin with charts and explanations.
kaya kung wala kayong magawa at gusto nyong tumawa punta lang kayo sa http://www.geocities.com/spyfrat
:glee::glee::glee:

cs_NOGNOG

May 2, 2002, 08:54 AM

mga repapeeps pano ba ko mag e-exam para maging stockbroker? i worked sa tektite rin before pero sa forex, i want to try stocks this time.

your help will be greatly appreciated!

Hulk

May 3, 2002, 12:55 AM

Originally posted by cs_NOGNOG
mga repapeeps pano ba ko mag e-exam para maging stockbroker? i worked sa tektite rin before pero sa forex, i want to try stocks this time.

your help will be greatly appreciated!

There used to be an exam for one to be able to become a Certified Securities Representative (CSR), but ever since we had a new SEC chairman, na-postpone na yung mga exams. Mga 2 years na atang di sila nagbibigay nito.

Of course there's also an exam for FOREX treasury traders if you work for in a bank. It's given by the BAP in cooperation with Ateneo.

:frank:

richyuppie

May 3, 2002, 08:34 AM

Actually, there are CSR exams next week, but you can't take it unless you've attended the CSR seminar three weeks ago.

Indeed!

Hulk

May 3, 2002, 09:49 AM

Originally posted by richyuppie
Actually, there are CSR exams next week, but you can't take it unless you've attended the CSR seminar three weeks ago.

Indeed!

Binalik na nila. He! he he! :D Tuloy na naman yung money-making scheme ng SEC. It's the seminar that makes the exam expensive.

Actually you don't need the seminar to pass the exam. Madali lang naman siya. Gimik nga namin ng mga officemates ko during the seminar was maghanap ng magandang chick sa umaga, tapos manood ng sine sa Megamall pag hapon :lol:

BTW, a CFA charter exempts you from the exam. *okay*

:frank:

cs_NOGNOG

May 3, 2002, 11:14 AM

Originally posted by Hulk

There used to be an exam for one to be able to become a Certified Securities Representative (CSR), but ever since we had a new SEC chairman, na-postpone na yung mga exams. Mga 2 years na atang di sila nagbibigay nito.

Of course there's also an exam for FOREX treasury traders if you work for in a bank. It's given by the BAP in cooperation with Ateneo.

:frank:

are there any requirements? do i have to work for a bank to take the FOREX exam?

Hulk

May 3, 2002, 02:20 PM

Originally posted by cs_NOGNOG

are there any requirements? do i have to work for a bank to take the FOREX exam?

I don't think so, pero it's better kasi they will foot the bill. The FOREX exam is only 1/2 of the Treasury exam that also covers fixed-income trading.

I think mahihirapan ka kung wala kang experience sa bank. I am assuming here that there's a world of difference between working for a FOREX company and being an actual FOREX trader. Most of the jargons and conventions may be unfamiliar to you. Even though there's a seminar, they assume that you have trading experience already, and they will not take the time in explaining the basics to you.

:frank:

richyuppie

May 5, 2002, 08:25 PM

J G Summit (JGS):

Stocks that move sideways or are consolidating after a long downtrend are stocks which could possibly be bottoming out. We need to place these in our watch list just in case these stocks do start to make an uptrend so that we could get a position at the earliest possible moment. JGS is one stock that is currently exhibiting such a pattern. It is in a downtrend in the short-term but appears to be moving sideways already when one looks at it from a long-term perspective. The chart above shows a daily chart of JGS from early last year. You will see that there is a possibility that a bullish reverse head and shoulders formation could be forming. However, in order for the pattern to work, it will have to take out its neckline at 2.06. For the short-term, it will have to take out 1.86 to be in an uptrend. Do not anticipate though. This stock could as easily go down to as low as 1.60 to 1.50 if it doesn't rally soon. Watch the volume. It will have to increase rather significantly if it is going to trend higher.

Source: www.tsupitero.com

Indeed!

richyuppie

May 6, 2002, 06:41 AM

Tips from www.tsupitero.com on selected Philippine Stock Exchange securities for tomorrow’s (May 6) market:

Warning: Follow at your own risk!

AC
Support: 6.00
Resistance: 6.20
Recommended Stop: 5.90
Trend: Down
Comments: Approaching resistances
Recommendation: Hold

ALI
Support: 7.00
Resistance: 7.50
Recommended Stop: 6.90
Trend: Sideways
Comments: Trying to hold on to its gains
Recommendation: Hold

SMPH
Support: 6.20
Resistance: 6.40
Recommended Stop: 6.10
Trend: Down
Comments: Strong counter-trend, Testing resistances
Recommendation: Hold

TEL
Support: 445
Resistance: 467.50
Recommend to buy if resistance is taken out to the upside: 470.00
Trend: Down
Comments: Trying to rally
Recommendation: Buy if breakout

MERB
Support: 39.50
Resistance: 44.50
Recommended Stop: 39.00
Trend: Down
Comments: Rally continues
Recommendation: Hold

ICT
Support: 2.85
Resistance: 3.05
Recommended Stop: 2.80
Trend: Up
Comments: Trading at the apex of a triangle
Recommendation: Hold

FLI
Support: 2.95
Resistance: 3.10
Recommended Stop: 2.90
Trend: Up
Comments: Appears to be already trending upwards
Recommendation: Hold

PCOR
Support: 1.66
Resistance: 1.68
Recommended Stop: 1.64
Trend: Sideways
Comments: Trend has changed from down to sideways
Recommendation: Trade the range

BPC
Support: 0.61
Resistance: 0.66
Recommended Stop: 0.60
Trend: Sideways
Comments: Trend has changed from down to sideways
Recommendation: Trade the range

EBC
Support: 38.50
Resistance: 44
Recommended Stop: 38.00
Trend: Sideways
Comments: Rally continues
Recommendation: Trade the range

SMCB
Support: 57.50
Resistance: 58
Recommended Stop: 57.00
Trend: Down
Comments: Rallying
Recommendation: Hold

ISM
Support: 0.038
Resistance: 0.041
Recommend to buy if resistance is taken out to the upside: 0.042
Trend: Sideways
Comments: Support holds, Possibly may rally
Recommendation: Trade the ranges

MPC
Support: 0.225
Resistance: 0.29
Trend: Down
Comments: Patterns look extremely weak
Recommendation: Avoid

AEV
Support: 2.04
Resistance: 2.34
Trend: Up
Comments: Broke above its consolidation
Recommendation: Buy the dips

JFC
Support: 13.25
Resistance: 14.75
Trend: Up
Comments: Correction possible
Recommendation: Take profits

RFM
Support: 1.26
Resistance: 1.34
Recommend to buy if resistance is taken out to the upside: 1.36
Trend: Down
Comments: Resistance holds
Recommendation: Buy if breakout

PLTL
Support: 0.45
Resistance: 0.47
Recommended Stop: 0.44
Recommend to buy if resistance is taken out to the upside: 0.48
Trend: Sideways
Comments: Consolidating between 0.43 and 0.51
Recommendation: Trade the ranges

DGTL
Support: 0.61
Resistance: 0.64
Recommended Stop: 0.60
Trend: Down
Comments: Testing resistances
Recommendation: Hold

FPH
Support: 28.50
Resistance: 30.00
Recommended Stop: 28.00
Trend: Down
Comments: Testing resistances
Recommendation: Hold

BPI
Support: 69.50
Resistance: 71
Recommended Stop: 69.00
Trend: Sideways
Comments: Testing resistances
Recommendation: Hold

Important Notice – The recommendations above are intended to be used by tsupiteros only or those whose holding periods are between 1 to 10 days. Those who would like to position for a longer period should not follow these recommendations.

Indeed!

cs_NOGNOG

May 6, 2002, 12:54 PM

question lang, in the Philippine Stock Exchange the majority of movements ba are more technical than fundamental?

Of course we all know that strong fundamentals definitely affect market sentiment, but on a normal trading day, is it safe to say na mas technical ang galaw ng Philippine market?

Spyfrat

May 9, 2002, 07:01 AM

medyo saka rumor driven.

added apm and tel sa site.

richyuppie

May 9, 2002, 02:38 PM

Thanks spyfrat. Eventhough APM is not one of my favorable issues, I find the chart interesting.:)

Indeed!

richyuppie

May 14, 2002, 12:22 PM

SM Prime Holdings (SMPH):

SMPH has broken down from a head and shoulders formation with its neckline. After breaking down from this bearish formation, it appears to be consolidating at its lows. The consolidation looks like a symmetrical triangle. This setup is very common and usually leads to a downside break. Watch the support of the triangle at about 6.00 to 6.10. If this level breaks, target to the downside is around the 5.50 level. Notice the downward sloping channel that it has been following since February. Unless SMPH could break above the symmetrical triangle at about the 6.30 to 6.40 levels, this stock will remain bearish.

Greed is Good, Indeed!

richyuppie

May 16, 2002, 02:15 PM

Tips from www.tsupitero.com on selected PSE issues for May 16’s market:

Warning: Follow at your own risk!

AC
Close: 6.00
Support: 5.80
Resistance: 6.00
Recommended Stop: 5.70
Recommend to buy if resistance is taken out to the upside: 6.10
Trend: Sideways
Comments: Trading at the apex of the triangle
Recommendation: Hold

ALI
Close: 7.10
Support: 7.00
Resistance: 7.30
Trend: Sideways
Comments: Bullishly consolidating at the highs
Recommendation: Hold

SMPH
Close: 6.10
Support: 6.00
Resistance: 6.20
Recommended Stop: 5.90
Recommend to buy if resistance is taken out to the upside: 6.30
Trend: Down
Comments: Appears to have held above support
Recommendation: Buy if breakout

TEL
Close: 460.00
Support: 455.00
Resistance: 467.50
Recommended Stop: 452.50
Recommend to buy if resistance is taken out to the upside: 470.00
Trend: Down
Comments: Appears to be holding above support
Recommendation: Buy if breakout

MERB
Close: 38.50
Support: 36.50
Resistance: 39.50
Recommend to buy if resistance is taken out to the upside: 40.00
Trend: Down
Comments: Downswing appears to be continuing
Recommendation: Buy if breakout

ICT
Close: 2.85
Support: 2.75
Resistance: 2.95
Trend: Sideways
Comments: Appears to have held above support
Recommendation: Hold

FLI
Close: 2.90
Support: 2.80
Resistance: 3.10
Recommended Stop: 2.75
Trend: Up
Comments: Uptrend appears to be intact
Recommendation: Buy

PCOR
Close: 1.70
Support: 1.66
Resistance: 1.76
Trend: Up
Comments: Consolidating
Recommendation: Hold

LTDI
Close: 35.00
Support: 33.00
Resistance: 35.50
Recommend to buy if resistance is taken out to the upside: 36.00
Trend: Up
Comments: Bullishly consolidating at its highs
Recommendation: Buy if breakout

AEV
Close: 2.36
Support: 2.32
Resisitance: 2.42
Recommended Stop: 2.30
Trend: Up
Comments: Testing higher end of range
Recommendation: Hold

Important Notice – The recommendations above are intended to be used by tsupiteros only or those whose holding periods are between 1 to 10 days. Those who would like to position for a longer period should not follow these recommendations.

Indeed!

richyuppie

May 17, 2002, 12:33 PM

Tips from tsupitero.com for May 17:

Warning: Follow at your own risk!

TEL
May 16 Closing Price: 442.50
Support: 405.00
Resistance: 462.50
Trend: Down
Comments: Broke Suggested stop
Recommendation: Avoid

SMCB
May 16 Closing Price: 58.00
Support: 56.50
Resistance: 58.00
Recommend to buy if resistance is taken out to the upside: 58.50
Trend: Sideways
Comments: Testing resistance
Recommendation: Buy if breakout

ALI
May 16 Closing Price: 7.20
Support: 7.00
Resistance: 7.20
Recommend to buy if resistance is taken out to the upside: 7.30
Trend: Sideways
Comments: Bullishly consolidating at the highs
Recommendation: Buy if breakout

SMPH
May 16 Closing Price: 6.10
Support: 6.00
Resistance: 6.20
Recommended Stop: 5.90
Recommend to buy if resistance is taken out to the upside: 6.30
Trend: Down
Comments: Trading at the apex of a triangle
Recommendation: Buy if breakout

AC
May 16 Closing Price: 5.90
Support: 5.80
Resistance: 6.00
Recommended Stop: 5.70
Recommend to buy if resistance is taken out to the upside: 6.10
Trend: Down
Comments: Trading at the apex of the triangle
Recommendation: Hold

MERB
May 16 Closing Price: 38.00
Support: 36.50
Resistance: 39.50
Recommend to buy if resistance is taken out to the upside: 40.00
Trend: Down
Comments: Downswing appears to be continuing
Recommendation: Buy if breakout

FLI
May 16 Closing Price: 3.05
Support: 2.85
Resistance: 3.10
Recommended Stop: 2.80
Trend: Up
Comments: Uptrend continues
Recommendation: Hold

ICT
May 16 Closing Price: 2.80
Support: 2.65
Resistance: 2.95
Trend: Sideways
Comments: Consolidation continues
Recommendation: Hold

PCOR
May 16 Closing Price: 1.74
Support: 1.66
Resistance: 1.76
Trend: Up
Comments: Big volume may indicate accumulation
Recommendation: Hold

LTDI
May 16 Closing Price: 33.50
Support: 33.00
Resistance: 35.50
Recommend to buy if resistance is taken out to the upside: 36.00
Trend: Up
Comments: Bullishly consolidating at its highs
Recommendation: Buy if breakout

Greed is Good, Indeed!