Real Estate Loan - no bubble

1. Philippine banks had P2.078 trillion in total real estate exposure as of end-December, 14.7% more than the P1.812 trillion in 2016.Growth eased from the 19.5% pace recorded in 2016.

Notes: Maybe...people who can afford loans already bought house...seeing the trend..will it go down this year? I guess so....besides...interest rate may go up...who dares to loan more...but...still to many people don't have house yet...it won't collapse suddenly right?....OFWs are still buying...

2. Lending for commercial property accounted for two-thirds of the total at P1.193 trillion, up by 17% from P1.019 trillion extended in 2016. On the other hand, home loans grew 14.8% to reach P608.142 billion, versus P529.904 billion in 2016.

Notes: commercial? office and retail stores?...

3. Loans accounted for 20.6% of the banks’ total real estate portfolio, lower than the 20.77% share posted in 2016. Despite the pickup in lending, bad debts grew by a modest 2.2% to P29.46 billion, accounting for just 1.64% of total loans. The BSP requires banks to keep their real estate exposure to a maximum of 20% of their loan books, as part of risk management.

BISTRO Group

It runs premium casual dining brands like Italianni’s and TGIFriday’s in the Philippines more than 20 years ago.

It has 18 concepts and 70 branches and opens 10~12 branches annually.

It also provides franchise for its brands such as Bulgogi Brothers Denny’s, Baker & Cook, Fish & Co., and Ka Tunying’s Café. The Bistro Group currently operates all its restaurants, but is building its brand through franchising.

SMC, 2GO, ENDO, Dunkin' Donuts, Consumer Spending

1. SMC Global Power Holdings Corp. is buying 640 MW Coal-Fired Thermal Plant located in Masinloc, Zambales from AES.

Notes: Biggest power generation firm in the Phil?

2. 2GO Group Inc. said it registered a loss of P310 million last year compared to a P344 million income the previous year. Non-shipping continued to increase as a proportion of 2GO’s business and accounted for 61 percent of total revenues in 2017, with shipping accounting for the other 39 percent

Notes: Looks like shipping is not that attractive yet. E-commerce is also growing but not good enough unlike other countries. SM mentioned that it will take long time (10 yrs?) but i don't think so. 

3. President said he is open to a “compromise” on the issue of labor contractualization.

Notes: DOLE already filed new version to OP...not yet signed...and open to talk? Looks like it will not be a very strict version...relieving all the labor intensive industries...especially manufacturing..good news...

BLOOM, NOW, Life Time Cellphone Number, EV

1. Enrique Razon’s Solaire Resort & Casino has received Forbes Travel Guide’s highest rating – Five Stars – for the second consecutive year.

Notes: Oh...wanna visit there one day...quite expensive compared to other hotels in the Manila...

2. NOW Telecom Inc. franchise extended until 2043. The bill expands the nature and scope of the franchise to wireless telecommunications systems, including mobile, cellular and fiber optics.

Notes: It's a separate unit with the listed NOW Corp.(NOW) even though the major owners are same. NOW owns around 19% only for now...maybe later, they gonna merge or do something...

Let's see who wins the bid...and what foreign company will join....

Growing LPG Market in the Philippines

It looks like Philippines don't use LNG for cooking at home. There is not pipeline even in the Manila. Some newly built condos ban using LPG (only Electric ) but still it has big potential even in rural areas, I think. Eventually, all Filipino may use LPG or Electricity for cooking...not wood.

Only several listed companies are doing this business....PPC, PCOR, COSCO, PNX...I'm not sure SHLPH is also engaged in this business...

Notes : The data is as of March, 2017.

1. Supply : 2 refineries, 6 importers, 28 import facilities, around 200 filling plants, more than 100 brands.

2. As the economy grow...demand will grow more...since there are not much alternative cooking fuels...