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    Other News:: THU 01 FEB 2018

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    JM Cr
    The PSEi declined 1.64% on Wednesday led by declines in SM (-5.96%), RRHI (-3.37%), and ALI (-2.86%). Value turnover increased while foreigners were net sellers for the fourth straight day. Bank lending growth slowed in December to 19% from 19.3% as credit growth for production activities grew 18.5% led by real estate, utilities, wholesale, manufacturing and finance. ICT started operations at a terminal in Papua New Guinea. MAXS will bring the Pancake House brand to Saudi Arabia by opening 12 branches through a partnership with a Jeddah company.

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    Other News:: THU 01 FEB 2018

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    The PSEi declined 1.64% on Wednesday led by declines in SM (-5.96%), RRHI (-3.37%), and ALI (-2.86%). Value turnover increased while foreigners were net sellers for the fourth straight day. Bank lending growth slowed in December to 19% from 19.3% as credit growth for production activities grew 18.5% led by real estate, utilities, wholesale, manufacturing and finance. ICT started operations at a terminal in Papua New Guinea. MAXS will bring the Pancake House brand to Saudi Arabia by opening 12 branches through a partnership with a Jeddah company.

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    2018-02-01-PH-D

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    The PSEi declined 1.64% on Wednesday led by declines in SM (-5.96%), RRHI (-3.37%), and ALI (-2.86%). Value turnover increased while foreigners were net sellers for the fourth straight day. Bank lending growth slowed in December to 19% from 19.3% as credit growth for production activities grew 18.5% led by real estate, utilities, wholesale, manufacturing and finance. ICT started operations at a terminal in Papua New Guinea. MAXS will bring the Pancake House brand to Saudi Arabia by opening 12 branches through a partnership with a Jeddah company.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    34 views4 pages

    Other News:: THU 01 FEB 2018

    Uploaded by

    JM Cr
    The PSEi declined 1.64% on Wednesday led by declines in SM (-5.96%), RRHI (-3.37%), and ALI (-2.86%). Value turnover increased while foreigners were net sellers for the fourth straight day. Bank lending growth slowed in December to 19% from 19.3% as credit growth for production activities grew 18.5% led by real estate, utilities, wholesale, manufacturing and finance. ICT started operations at a terminal in Papua New Guinea. MAXS will bring the Pancake House brand to Saudi Arabia by opening 12 branches through a partnership with a Jeddah company.

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    Download as PDF, TXT or read online from Scribd
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    of 4

    THU 01 FEB 2018

    Other News:

    Economy: Bank lending growth slows in December


    ICT: ICT starts operations in Papua New Guinea
    MAXS: MAXS to bring Pancake House brand to Saudi Arabia (AS OF JAN 31, 2018)
    Economy: Domestic liquidity (M3) expands by 11.9% y/y in December INDICES
    Close Points % YTD%
    Market Summary PSEi 8,764.01 -146.47 -1.64 2.40
    All Shares 5,124.83 -69.81 -1.34 2.70
    Financials 2,223.98 -20.05 -0.89 -0.28
    The PSEi declined last Wednesday, losing 146.47 points or 1.64% to close at 8,764.01.
    Holding Firms 8,957.81 -231.96 -2.52 3.96
    Industrial 11,790.56 -58.47 -0.49 4.98
    Index decliners led gainers 20 to 7, while 3 issues remained unchanged. Most sectors ended in Mining & Oil 11,937.95 -73.57 -0.61 3.78
    red with Holding Firms (-2.52%) leading the group. Significant index decliners were SM (-5.96%), Property 3,939.56 -88.82 -2.20 -0.97
    Services 1,710.73 4.05 0.24 5.61
    RRHI (-3.37%), ALI (-2.86%), SMPH (-2.51%), and LTG (-2.18%). Meanwhile, the significant index
    gainers were ICT (+3.18%), GLO (+2.15%), and DMC (+0.70%). Dow Jones 26,149.39 72.50 0.28 5.79
    S&P 500 2,823.81 1.38 0.05 5.62
    Value turnover increased to Php11.5Bil from Php10.1Bil in the previous session. Meanwhile, Nasdaq 7,411.48 9.00 0.12 7.36

    foreigners continue to be net sellers for the fourth consecutive day, liquidating Php2.3Bil worth
    of shares. INDEX GAINERS
    Ticker Company Price %
    ICT Int'l Container Term 113.50 3.18
    GLO Globe Telecom Inc 1900.00 2.15
    DMC DMCI Hldgs Inc 14.40 0.70
    AGI Alliance Global Inc 15.34 0.26
    AP Aboitiz Power Corp 41.00 0.24

    INDEX LOSERS
    Ticker Company Price %
    SM SM Investments Corp 1025 -5.96
    RRHI Robinsons Retail Hldgs Inc 94.6 -3.37
    ALI Ayala Land Inc 44.25 -2.96
    SMPH SM Prime Hldgs Inc 36.9 -2.51
    LTG LT Group Inc 22.45 -2.18

    TOP 5 MOST ACTIVE STOCKS


    Ticker Company Turnover
    SM SM Investments Corp 1,267,581,000
    ALI Ayala Land Inc 983,983,600
    BDO BDO Unibank Inc 741,958,000
    SMPH SM Prime Hldgs Inc 537,771,500
    AC Ayala Corporation 276,639,600

    Disclaimer: All content provided in COL Reports are meant to be read in the COL Financial website. Accuracy and completeness of content cannot be guaranteed if reports are viewed outside of
    the COL Financial website as these may be subject to tampering or unauthorized alterations.
    DAILY NOTES I PHILIPPINE EQUITY RESEARCH

    THU 01 FEB 2018

    Other News:

    RESEARCH ANALYSTS Economy: Bank lending growth slows in December


    FRANCES ROLFA NICOLAS
    ANDY DELA CRUZ
    Credit growth during the month of December expanded at a slower rate of 19.0% from 19.3%
    JUSTIN RICHMOND CHENG
    (revised) in the previous month. Loans for production activities grew by 18.5%, driven mainly
    KYLE VELASCO
    by the increased lending to the following sectors: real estate activities (+19.3%); electricity,
    JOHN MARTIN LUCIANO
    ADRIAN ALEXANDER YU gas, steam and airconditioning supply (+25.4%); wholesale and retail trade, repair of motor
    vehicles and motorcycles (+20.1%); manufacturing (+11.7%); and, financial and insurance
    activities (+16.8%). Meanwhile, growth in loans for household consumption moderated to
    17.2% in December from 20.6% in November as the slower increase in motor vehicle loans
    and salary-based general purpose loans offset the faster growth in credit card loans and other
    types of household loans. (Source: BSP)

    ICT: ICT starts operations in Papua New Guinea

    ICT said it has started operations (based on a 25 year terminal operation agreement) at the
    Lae Tidal Basin in Papua New Guinea. ICT will first roll out the terminal’s new operating system
    followed by the delivery of mobile harbor cranes.

    MAXS: MAXS to bring Pancake House brand to Saudi Arabia

    MAXS has partnered with Al-Bader National Establishment for Real-Estate Development,
    a Jeddah-based company, to open 12 Pancake House branches in Saudi Arabia. Al-Bader
    National Establishment has been searching for a renowned brand to spearhead its venture
    into the food sector and believes that Pancake House’s assorted menu mix and all-day dining
    concept should be appealing to various demographic profiles. This is also part of MAXS effort
    to open around 20 to 30 international stores this year with a target of around 200 international
    stores by 2020. (source: BusinessWorld)

    Economy: Domestic liquidity (M3) expands by 11.9% y/y in December

    Preliminary data from the BSP showed that domestic liquidity (M3) grew by 11.9% y/y to
    Php10.6Tril in December 2017, slower than the 14.0% expansion in the previous month. On
    a m/m seasonally-adjusted basis, M3 increased by 0.7%. Domestic claims grew by 13.4% in
    December, lower than the 14.7% increase in November, as growth in credit to the private
    sector eased to 15.7% from 16.0%. Likewise, net claims on the central government grew at
    a slower pace of 2.2% from 10.2% as the deposits of the National Government with the BSP
    increased. Net foreign assets (NFA) in peso terms grew by 2.3% y/y in December from 1.9% in

    COL Financial Group, Inc. 2


    DAILY NOTES I PHILIPPINE EQUITY RESEARCH

    THU 01 FEB 2018

    the previous month. The increase in BSP’s NFA position was driven by foreign exchange inflows
    from overseas Filipinos’ remittances, business process outsourcing receipts, and foreign
    portfolio investments. On the other hand, the NFA of banks also continued to expand but at a
    slower pace as growth in banks’ foreign assets eased on account of lower interbank loans and
    deposits with other banks. (source: BSP)

    COL Financial Group, Inc. 3


    DAILY NOTES I PHILIPPINE EQUITY RESEARCH

    THU 01 FEB 2018

    IMPORTANT RATING DEFINITIONS


    BUY
    Stocks that have a BUY rating have attractive fundamentals and valuations based on our analysis. We expect the share price to outperform the market in the next six to
    12 months.

    HOLD
    Stocks that have a HOLD rating have either 1) attractive fundamentals but expensive valuations 2) attractive valuations but near-term earnings outlook might be poor
    or vulnerable to numerous risks. Given the said factors, the share price of the stock may perform merely in line or underperform in the market in the next six to twelve
    months.

    SELL
    We dislike both the valuations and fundamentals of stocks with a SELL rating. We expect the share price to underperform in the next six to12 months.

    IMPORTANT DISCLAIMER
    Securities recommended, offered or sold by COL Financial Group, Inc. are subject to investment risks, including the possible loss of the principal amount invested.
    Although information has been obtained from and is based upon sources we believe to be reliable, we do not guarantee its accuracy and said information may be
    incomplete or condensed. All opinions and estimates constitute the judgment of COL’s Equity Research Department as of the date of the report and are subject to change
    without prior notice. This report is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security. COL Financial and/
    or its employees not involved in the preparation of this report may have investments in securities of derivatives of the companies mentioned in this report and may trade
    them in ways different from those discussed in this report.

    COL RESEARCH TEAM

    APRIL LYNN TAN, CFA


    VP & HEAD OF RESEARCH
    [email protected]

    CHARLES WILLIAM ANG, CFA GEORGE CHING RICHARD LAÑEDA, CFA


    DEPUTY HEAD OF RESEARCH SENIOR RESEARCH MANAGER SENIOR RESEARCH MANAGER
    [email protected] [email protected] [email protected]

    FRANCES ROLFA NICOLAS ANDY DELA CRUZ JUSTIN RICHMOND CHENG


    RESEARCH ANALYST RESEARCH ANALYST RESEARCH ANALYST
    [email protected] [email protected] [email protected]

    KYLE JEMMRIC VELASCO JOHN MARTIN LUCIANO ADRIAN ALEXANDER YU


    RESEARCH ANALYST RESEARCH ANALYST RESEARCH ANALYST
    [email protected] [email protected] [email protected]

    COL FINANCIAL GROUP, INC.


    2402-D EAST TOWER, PHILIPPINE STOCK EXCHANGE CENTRE,
    EXCHANGE ROAD, ORTIGAS CENTER, PASIG CITY
    PHILIPPINES 1605
    TEL NO. +632 636-5411
    FAX NO. +632 635-4632
    WEBSITE: www.colfinancial.com

    COL Financial Group, Inc. 5

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