SM, BSP, PAL, DD

1. SM Retail backs off from the plan to acquire Goldilocks Bakeshop because of the change in business environment.

Notes: It already passed even PCC....why now? PCC changed the rule now..."notify within 30 days UPON signing of definitive agreement prior to any act of consummation" from "BEFORE signing of any definitive agreement". PCC wasted time. Anyway what environment? Goldilocks want IPO? or PCC monitoring was a burden?

2. BSP may cut reserve rate from 20% to develop financial market more.

Notes: Many reports say Banks are stable...Many conglomerates owns banks. together with easing SBL, stable interest rate policy, stable OFW remittance...M3 may grow for a while....when the bubble come? They can guarantee that they will control before it explodes....

3. PAL opens new destinations and increases frequency to China.

Notes: Chinese tourist arrivals in 2017....surged...maybe it will overpass South Korea soon..It will be a positive sign to Casino...even though new tax reform may impose 12% VAT to casino..

4. DoubleDragon Properties Corp. is putting up a 1,001-room Hotel101 in the GERI's Boracay Newcoast in Boracay.
Notes: Boracay Newcoast is a 150-hectare tourism estate of GERI.