Sunday, January 14, 2018

SMC, ALHI, RLC

1. San Miguel unit SMC Global Power Holdings acquired the equity stake held by AES Philippines and Thailand’s EGCO group in Masin-AES. The deal involves the 630-megawatt Masinloc coal-fired power plant, a 355-megawatt coal-fired unit still under construction and a 10-megawatt battery storage plant.

Notes: It operates 2x500 MW coal-fired Sual power plant (owned by Team Energy, BOT till 2024) and SMC has IPPA status since 2009. Check the site for IPPA. It operates 345 MW San Roque hydro power plant, a peaking power plant. (multi purpose : power, irrigation, flood control) Check the site for Peaking Power. 1,200 MW Ilijan gas power plant, BOT till 2022. It can also run on diesel.

Notes: Now, it has more than 3,000 MW...and constructing more than 1,000 MW...gonna be bigger than AP in terms of generation?

2. Anchor Land Holdings, Inc. (ALHI) will build 16 story, 3,000 bed spaces for young salarymem.
It's planning to build 10,000 beds in next 3 years.

Notes: Hmm...is the dormitory business promising? everybody wanna into into it...looks like rental fee gonna be around P3,000~P5,000 monthly.

3. Robinsons Land Corp. will increase capital through stock rights offering. The Gokongwei property firm is offering up to 1.1 billion billion shares at a price ranging from P18 to P21 each.Stockholders can buy one share for every 3.7 to 4.3 common shares held as Jan. 31. The mother company, JGS, will purchase any unsubscribed rights. Proceed will be used for acquiring properties across the country.

Notes: will be diluted a lot. is it a proper price? I cannot understand.


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MARKET ISSUES

[last partial update : 02/28/2018] Macro and Overseas (a) US interest rate : 1.25 ~ 1.5%, May increase 3 times in 2018 (b) US 10 yr bond...