Stock News 2013: Chevron eyes 100 more retail outlets

Comparison gas prices: US Smog Check vs. Chevron (Photo credit: mary hodder)

US-based Chevron is aggressively expanding its presence in the Philippines, planning to build at least 100 retail stations in five years.

The target number may further increase as the company firms up its network expansion plans, said Katrina Ignacio, assistant manager for policy, government and public affairs of local unit Chevron Philippines Inc.

“The Philippines plays a major role in Chevron International Product’s growth plans in Asia-Pacific. As the company’s biggest retail network in Asia-Pacific, the Philippines represents 23 percent of the region’s retail network growth plan,” Ignacio said in an interview with Inquirer.

Ignacio did not disclose final investment figures, but said that a typical retail site would require about P10 million to build and P3 million to P5 million in monthly working capital. This places the total investment requirement for the 100 planned stations at a minimum of P1 billion.

It was, however, not made clear how many of the planned stations will be company-owned, which means the investment requirements will be shouldered by the company, and how many will be put up under a franchising deal.

http://business.inquirer.net/109211/chevron-eyes-100-more-retail-outlets-in-ph

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Stock News 2013: Energy sector needs P774B investments

philippines sunset (Photo credit: FriskoDude)

The Philippine energy sector will need P774 billion in fresh investments between now and 2016 to roll out critical infrastructure projects and various programs needed to ensure national energy security.

An outlook report by the Department of Energy said the required investment would be P53 billion for this year, P281 billion in 2013, P258 billion in 2015 and P182 billion in 2016.

Apart from ensuring national energy security, the investments are also aimed at “climate-proofing” the Philippine energy system, promoting a low-carbon future with the rollout of electric vehicles and the massive use of alternative fuels, adopting smart technologies and facilitating the implementation of strategic infrastructure.

For this year alone, the DOE is targeting to provide electricity access to 9,860 households through the Household Electrification Program and 4,982 villages (composed of roughly 30 households on average) under the Sitio Electrification Program.

The agency is also aiming to deploy 200 compressed natural gas-fed buses within the year and an initial 20,000 electric tricycles within a two-year period starting 2013 under the government’s $500-million e-trike program.

The Philippine government is promoting the use of electric vehicles, particularly for public transport such as the tricycles, as this would benefit the environment and support the country’s drive to become more energy independent.

Based on previous studies, every 20,000 e-trikes that are introduced to Manila’s streets are expected to save the Philippines 100,000 liters of fuel imports each day, saving the country about $35 million a year.

http://business.inquirer.net/107947/energy-sector-needs-p774b-investments

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Stock News 2012: Ayala Corp kicks off P10-B bond offer

The bonds due 2027 bear an interest rate of 6.875 percent per annum.

Tapped as underwriters for the bond issue are BPI Capital Corp., BDO Capital & Investment Corp., First Metro Investment Corp., Hongkong and Shanghai Banking Corp., ING Bank Manila, RCBC Capital Corp., SB Capital Investment Corp. and Standard Chartered Bank.

Ayala is raising funds to support its expansion both through organic growth of its existing business lines as well as value-accretive acquisitions. This includes opportunities presented by various domestic infrastructure projects.

“We always ensure that we maintain a highly flexible funding position at the holding company level that will allow us to invest in sizable projects without impeding other value-enhancing initiatives we are currently undertaking,” Ayala treasurer Ramon Opulencia said.

“The low-interest rate environment and the robust liquidity in the system provide an ideal environment for us to be able to stretch our tenors and match the anticipated long gestation period of the investments that Ayala envisions,” he added.

Ayala earlier won the bid for the Daang Hari connector road project under the government’s Public-Private Partnership (PPP) program.

It also recently forged an agreement with Metro Pacific to jointly pursue and develop light rail transit projects in Metro Manila.

Part of the proceeds of the bond offer will also be used to prepay the company’s debt.

Ayala has been a consistent and innovative issuer in the domestic capital market over the past few years. It has pioneered investment products in the local market that provided the broader investing public, particularly retail investors, with alternative investment choices.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=801615

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Stock News 2011: SSS to increase equity portfolio

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State-run Social Security System (SSS) said Thursday that it plans to boost its investment in the equities market as the pension fund is looking at increasing its holdings in power and mining.

Emilio de Quiros Jr., SSS president and chief executive said the agency will raise its equity holdings from the current 21 percent, adding that its charter allows them to invest up to 30 percent of its entire investable fund in stocks.

De Quiros cited that SSS, which provides benefits to Philippine private sector workers, has roughly P286 billion worth of investable fund.

If SSS board decides to raise its publicly listed stocks holdings to 30 percent, it would mean additional P20 billion in placement.

Analysts said the Philippine Stock Exchange index (PSEi) may reach the 5,000 level this year amid strong investor confidence.

De Quiros earlier said that the pension fund is planning to increase its revenues from contributions.

http://mb.com.ph/articles/325886/sss-increase-equity-portfolio

Stock News 2011: BoI investments jump 183% as of Feb

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New projects registered with the Board of Investments (BoI) from January to February 15 this year jumped 183 percent to P11.398 billion from P9.917 billion in the same period last year.

BoI executive director Lucita P. Reyes said the investments represent the combined cost of 29 projects approved for the first one and a half month period this year. There were only 22 projects registered with the BoI in the same period last year.

Based on the BoI data, these new projects are expected to generate 3,661 jobs once they go into full commercial operation.

"We have good prospects this year, this will be a very good year because of the thrust of the government to continue improving the investment environment," Reyes said.

Last year, the BoI registered P301 billion worth of investments, surpassing its 2010 target of P287 billion.

For 2011, the BoI has set a lower investments target of P296 billion because the agency has decided not to register anymore the independent power project administrators, which account for a significant share of the agency’s project approvals in 2010.

http://www.mb.com.ph/node/305311/boi-inve

Stock News 2010: Double-digit investment growth seen in 2011

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MANILA, Philippines – As investments now reaching over P457 billion and expected to exceed the 2010 growth targets, Trade and Industry Secretary Gregory L. Domingo sees double-digit growth in investments next year with infrastructure projects and the government’s six big winners as growth drivers.

Domingo said this as new investments registered with the Board of Investments (BoI) and the Philippine Economic Zone Authority (PEZA), the country’s premier investment generating agencies, are expected to exceed targets this year.

As of December 13, BoI-registered investments, as measured by project cost, already reached P257 billion while PEZA investments are expected to exceed its P200 billion target for the year as of December .

“We are going to exceed our 15-10-10 growth targets for the year,” said PEZA Director-General Lilia B. De Lima told reporters, but did not divulge the latest investments figure.

PEZA is eyeing for a 15 percent growth in investments and 10 percent growth each for exports and employment.

In addition, BoI executive director Lucita P. Reyes said the agency has approved a total of P257 billion as of its last meeting.

“We only need one big project to exceed our last year’s total investments of P287 billion,” Reyes said.

“We are more bullish next year on investments,” Domingo told reporters at the sidelines of the recently concluded Philippine Retailers Association’s 2010 Awardees for Best Retailers and Shopping Centers.

“We expect double-digit growth next year,” Domingo said.

http://www.mb.com.ph/node/292685/doubledigit-inve

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Stock News 2010: Insular Life energy-linked product generates P700 M

Insular Life’s latest investment-linked insurance product offer, the i-Dollar Energy 5 was a best-seller.

Launched last October 18 and available only until November 8, Insular’s i-Dollar Energy 5 was a principal-protected, 5 years to mature, single premium US dollar-denominated variable life insurance policy that provided investment opportunities in the international energy sector through key equity indexes.

Aside from the appeal of the underlying investment asset because of growing global demand for traditional and alternative energy, the product also had a novel “look-back” feature wherein the four lowest quarterly observation values would be dropped, thus further raising the upside potential return to the investor.

Insular Life’s latest special product offering was so well-received that it generated almost $16 million, or approximately P700 million in new premium revenues. This was more than five times the target volume initially set.

The response was unprecedented and eclipsed all previous sales records for the company’s limited product campaigns.

http://www.mb.com.ph/node/290064/in

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Stock News 2010: US Firm Eyes Big Investment in Mining

Image by The Library of Congress via Flickr

Nexsun Corp., a Los Angeles-based green energy project management firm, which is diversifying into mineral exploration and development worldwide, said it is encouraged by the determination of the new Philippine government to enhance the investment climate in the country.

Nexsun recently invested in four local mining companies, namely Peniel Resources Mining, J&M Resources Mining, Bogo Resources Mining and T&T Resources and Mining. Nexsun recently appointed James Kim as president of these four mining companies.

"We intend to invest substantial capital in Philippine mining, as a showcase of our trust and confidence in the new administration of President Benigno Aquino III," said James Kim.

Kim said the company is looking at various mining potentials in the country such as iron ore, titanium and gold and are now in the exploratory stage.

http://www.mb.com.ph/articles/277066/us-firm-eyes-big-investment-mining

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Stock News 2010: Buy Filinvest Land, Inc.

Image by dbgg1979 via Flickr

Filinvest Land, Inc.

Recommendation: Buy

FILINVEST LAND, Inc. earned a “buy” tag from brokerage firm Regina Capital Development Corp. given the Gotianun-led developer’s continued expansion.

Last week, Filinvest announced a plan to expand its projects in Cebu City, following the recently launched residential project, Citta Di Mare. The company’s investments and future projects in Cebu would include a business process outsourcing building, hotels and subdivisions.

“Fundamentally, it’s a good buy. It’s trading at a discount with 1.60 book value,” said investment analyst Claire S. Quiray. “Technically, with the current demand, it might break out from P1.32 per share. Next target is at P1.50 and momentum is still rising,” she added.

Filinvest Land shares were last traded at P1.31 apiece.

Elizabeth S. Abadillo, analyst from Angping & Associates Securities, Inc., echoed Ms. Quiray’s view, noting Filinvest’s healthy books and its cheap price.

Share Price	1.31
High (past 52 weeks)	1.31
Low (past 52 weeks)	0.76
Market Cap. (M)	31,767.18
Price-Earnings Ratio	22.11
Earnings Per Share	0.08

Dionna Fe M. Falamig

September 6, 2010

http://www.bworldonline.com/Research/stockpicks.php?id=0669

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