buildWEALTH.
A Product of Wealth Securities, Inc.
Friday,
Index
PSEi
All Shares
Financials
Industrial
Holding Firms
Services
Mining and Oil
Property
2103 East Tower, PSE Center, Exchange Road, Ortigas Center, Pasig City 1600
Tel 02.634.5038
22 March 2013
Value
6,472.98
4,076.49
1,706.23
9,878.55
5,663.49
1,910.98
21,277.49
2,635.51
Fax 02.634.5043
Change
53.36
33.63
9.22
87.23
7.57
43.20
402.05
7.18
% Change
0.83
0.83
0.54
0.89
0.13
2.31
1.93
0.27
WWW.WEALTHSEC.COM
WORLD INDICES
DJIA
14,421.49
-0.62%
FTSE 100
6,388.55
-0.69%
Nikkei
12,635.70
+1.34%
Mar 21, 2013:
Value T/O, net
52-week High
Low
6,472.98 +53.36
P 6,153 million
6,867.10
4,863.42
Foreign Buying:
Foreign Selling:
P 5,226 million
P 5,834 million
TRADING SNAPSHOT
Index Movers
HEADLINES
TEL
+24.27
BPI
+8.11
US stocks fall
AEV
+5.89
ICT
+5.59
From Bloomberg: The S&P 500 fell 0.8% to 1,545.8. The Dow Jones Industrial Average lost
AGI
-4.82
Index Outperformers
90.24 points, or 0.6%, to 14,421.49. The European Central Bank said it may cut Cypriot
banks off from emergency funds after March 25. In the U.S., sales of previously owned
Up
homes rose in February to the highest level in more than three years. Purchases increased
SCC
7.09%
0.8% to a 4.98 million annualized rate, the most since November 2009, figures from the
BEL
4.02%
National Association of Realtors showed.
TEL
3.23%
PX
2.98%
ICT
2.71%
Index Underperformers
Down
AGI
-2.31%
a Share Purchase Agreement for the purchase of Crixus Limited, which owns PICT shares.
AP
-0.95%
The two acquisitions will bring ICTSIMLs direct and indirect ownership in PICT to 64.38%.
MBT
-0.88%
ALI
-0.68%
JGS
-0.50%
ICTSI buys additional shares of Pakistan International Container Terminal
From a PSE disclosure: International Container Terminal Services Inc. (ICTSI), through
wholly-owned subsidiary ICTSI Mauritius Limited (ICTSIML) purchased an additional
86,900 shares of Pakistan International Container Terminal Limited (PICT) and entered into
Sta Lucia Land engages CBRE Philippines as Real Estate Advisor
In a PSE disclosure, Sta. Lucia Land Inc. (SLI) said it has engaged CB Richard Ellis
Philippines Inc. (CBRE Philippines) as its exclusive Real Estate Advisor. Under the terms
of agreement, CBRE Philippines will provide general and transactional advice to both SLI
and its parent company Sta. Lucia Realty and Development Inc. on how to optimize the
groups combined portfolio of over 220 projects, which includes 14 golf courses, a shopping
mall in Rizal, over 10 high rise projects and several leisure and tourism-related properties.
01
GT Capital net income up 97%
In a PSE disclosure, GT Capital Holdings Inc. (GTCAP) reported that its net income for
CURRENCIES
2012 grew 97% YOY to P6.5 B. Excluding extraordinary items, the companys core net
US, Dollar
40.7250
income grew 63% to P5.4 B. Consolidated revenues grew 189% to P23 B due to
Japan, Yen
0.4290
UK, Pound
61.8169
strong contributions from its associates and the consolidation of Global Business
Power Corp. (GBPC).
Metrobank registered a 40% (P15.4 B) growth in its consolidated net income. Toyota
Motors Philippines Corp. grew its net income by 37% (P3 B). Excluding extraordinary
items, GBPCs net income grew 64% (P2.6 B). Federal Land Inc.s consolidated net
Hong Kong, Dollar
5.2462
EU, Euro
52.5348
Saudi Arabia, Rial
7.0500
China, Yuan
6.5537
Singapore, Dollar
32.6009
income surged 235% (P2 B). Philippine AXA Life Insurance Corp. registered net
income of P915 M.
Lafarge to reopen Danao facility
In a PSE disclosure, Lafarge Republic Inc. said it is reopening its Danao Facility in
Cebu to address the growing demand for building materials and the growing backlog in
the construction companies. The facility will generate an additional 1 million tons of
cement per year starting 1H2013. The company is targeting to supply an additional
200, 650 and 100 kilo tons per year to Luzon, Visayas and Mindanao, respectively.
San Miguel clarifies news regarding $1.3 B term loan
In a PSE disclosure, San Miguel Corp. confirmed that five banks have joined the
company as lead arrangers and bookrunners for a $1.3 B 5-year term loan to refinance
old debt. The banks so far are DBS Bank, Maybank, ANZ, Bank of America Merrill
Lynch and Standard Chartered Bank.
Vista Land net income up 24%
In a PSE disclosure, Vista Land and Lifescapes Inc. reported that net income grew
24% YOY to P4.38 B in 2012. The company recorded revenues of P16.3 B, an
increase of 21% on the back of increased overall completion rate of sold inventories of
its business units. Revenues of Communities Philippines grew the most (38%) to P5.9
B. Camella Homes revenues increased 26% to P5.6 B. Brittanys revenues increased
28% to P2.1 B. Crown Asias revenues decreased 8% to P2 B.
Filinvest Land net income up 17%
In a PSE disclosure, Filinvest Land, Inc. (FLI) reported that its net income in 2012
increased 17% YOY to P3.4 B. Growth was driven by the 27% increase in Real Estate
Sales to P8.8 B. Rental Income, on the other hand, contributed P1.8 B (+16%).
Mariwasa Siam reports tender offer
From a PSE disclosure: Invescap Incorporated (the "Buyer") has executed a Share
Purchase Agreement to acquire 85% of the total issued and outstanding shares of
Mariwasa Siam Holdings, Inc. ("MMI") at a price of PHP0.3059 per share. In
compliance with the implementing rules and regulations of the Securities Regulation
Code, the Buyer will make a tender offer to acquire the shares held by the other
minority stockholders of MMI equivalent to 15% of the total issued and outstanding
shares of MMI at the same price of PHP0.3059 per share.
02
COMMODITIES
BRENT
CRUDE OIL
(USD/bbl.)
GOLD 100
OZ FUTR
(USD/t oz.)
SILVER
FUTURE
(USD/t oz.)
CORN
FUTURE
(USd/bu.)
SUGAR #11
(USd/lb.)
SOYBEAN
FUTURE
(USd/bu.)
107.47
-1.15%
1,615.20
+0.09%
29.15
-0.23%
731.25
-0.24%
18.39
+0.99%
1,446.50
-0.17%
Please Read!
The information and opinions in this report were prepared by Wealth Securities, Inc.
The information herein is believed to be reliable and has been obtained from public
sources believed to be reliable. Wealth Securities ma kes no representation as to the
accuracy or completeness of such information.
Wealth Securities may eng age in securities transactions, on a proprietary basis or
otherwise, in a manner inconsistent with the view taken in this research report. In
addition, others within We alth Securities, including traders and sales staff, ma y take
a view that is inconsistent with that taken in this research report.
Opinions, estimates and projections in this report constitute the current judgme nt of
the author as of the date of this report. They do not necessarily reflect the opinions
of Wealth Securities and are subject to change without notice. Wealth Securities has
no obligation to update, m odify or amend t his report or to otherwise notify a
recipient thereof in the event that any opinion, forecast or estimate set forth herein,
changes or subsequently becomes inaccurate. Prices and availability of financial
instruments are subject to change without notice. T his report is provided for
informational purposes only. It is not an offer or a solicitation of an offer to buy or
sell any financial instruments or to participate in any particular trading strategy.
Target prices are inherently imprecise and a product of the analyst judgment.
RATINGS DEFINITION
BUY
Over the next six to
twelve months, Wealth
Securities expects the
share price move within
a range of +/-12%
HOLD
Je ro me G o n z a l e z
B e rn a rd A vi a n t e
R e se a rch H e a d
T: 634.5038 local 8127
[email protected]
C o n g l o me ra t e s , P o w e r & G a mi n g
T: 634.5038 local 8121
[email protected]
Mi g u e l A g a ra o
N i k ki Y u
Mi n i n g & P ro p e rt y
T: 634.5038 local 8164
[email protected]
C o n su me r
T: 634.5038 local 8150
[email protected]
N D F e rn a n d e z
S a ra h U y
B a n ki n g , T e l co s& T ra n s p o rt
T: 634.5038 local 8152
[email protected]
C o n st r u ct i o n
T: 634.5038 local 8160
[email protected]
Over the next six to
twelve months, Wealth
Securities expects the
share price to increase
by 12% or more
SELL
Over the next six to
twelve months, Wealth
Securities expects the
share price to decline by
12% or more
Wealth Securities, Inc.
2103 EastTower, PSECenter,
Exchange Road, OrtigasCenter,
PasigCity 1600
Telephone: 02.634.5038
Facsimile: 02.634.5043
www.wealthsec.com
