Wednesday, October 31, 2012

Financial IQ: DMCI corporate bonds

page2
page2 (Photo credit: denizjavier)

Financial IQ Philippines Quick Hit(s):

Another corporate bonds will be issued in the market.  This time, courtesy of DMCI.  something to consider, if your money is mostly in Savings or Time Deposits.


DMCI Project Developers Inc., a unit of the Consunji-led DMCI Holdings Inc. that is engaged in construction projects and infrastructure development, has increased the size of its planned issuance of fixed-corporate notes to P10 billion.

DMCI-PDI received commitments equivalent to more than double the initial intended issue size of P5 billion, prompting it to fully exercise its oversubscription option.

DMCI said its subsidiary inked a facility agreement with a group of `financial lenders for DMCI PDI’s issuance of P10 billion notes.

Proceeds from the issue will be used to fund project development and construction costs, acquire real estate properties and fund other general corporate purposes.

BDO Capital & Investment Corp. acted as the lead arranger and sole bookrunner of the notes issue.

DMCI PDI is the country’s premier triple A builder-developer that brings serviced, themed communities within reach of urban families.

DMCI Homes, the property development unit DMCI Holdings, is eyeing a 20 percent growth in sales and reservations this year as it accelerates product launches to take advantage of the growing property sector.

DMCI Homes has alloted P13 billion this year for the launch of seven new residential projects equivalent to 5,800 units.

The new projects will be a mix of mid-to high-rise vertical community developments, located in key strategic areas within Metro Manila.

Among these new projects include One Castilla Place in Valencia, Quezon City, Zinnia Towers (located along North Edsa, Quezon City), a high-rise development in another prime Quezon City location along A. Bonifacio Street; Verawood Residences in Acacia Estates, Taguig; Torre de Manila a high-rise development in Taft Avenue in Ermita, Manila and Serissa Residences, a medium-rise community along Alabang-Zapote Road in Las Piñas.

http://www.philstar.com/Article.aspx?articleId=865511&publicationSubCategoryId=66

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Tuesday, October 30, 2012

Financial IQ: Are you living in a matrix?

Neo (The Matrix)
Neo (The Matrix) (Photo credit: Wikipedia)

Financial IQ Philippines Quick Hit(s):

Have you watched Matrix?  If you are, you may have been left wondering what they are talking about.

In reality, it makes a lot of sense because we may need to get out of our comfort zones in order to achieve some of our goals.  Otherwise, our repeating actions can only get us to a certain extent in life.


Morpheus: I see it in your eyes. You have the look of a man who accepts what he sees because he is expecting to wake up. Ironically, that's not far from the truth. Do you believe in fate, Neo?
Neo: No.
Morpheus: Why not?
Neo: Because I don't like the idea that I'm not in control of my life.
Morpheus: I know *exactly* what you mean. Let me tell you why you're here. You're here because you know something. What you know you can't explain, but you feel it. You've felt it your entire life, that there's something wrong with the world. You don't know what it is, but it's there, like a splinter in your mind, driving you mad. It is this feeling that has brought you to me. Do you know what I'm talking about?
Neo: The Matrix.
Morpheus: Do you want to know what it is?
Neo: Yes.
Morpheus: The Matrix is everywhere. It is all around us. Even now, in this very room. You can see it when you look out your window or when you turn on your television. You can feel it when you go to work... when you go to church... when you pay your taxes. It is the world that has been pulled over your eyes to blind you from the truth.
Neo: What truth?
Morpheus: That you are a slave, Neo. Like everyone else you were born into bondage. Into a prison that you cannot taste or see or touch. A prison for your mind.

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Financial IQ: PLDT gets investment rating

Photo of Manny
Photo of Manny (Photo credit: Wikipedia)

Financial IQ Philippines Quick Hit(s):

It is good to hear that local companies can issue investment grade rating.  A potential outcome is foreign companies investing in corporate investment grade financial instruments may also begin to buy PLDT... if they have not started yet.


New York-based Moody’s Investors Service upgraded the local currency issuer rating and foreign currency bond rating of dominant carrier Philippine Long Distance Telephone Co. (PLDT) to one notch above the minimum investment grade on the back of a stable outlook.

PLDT chairman Manuel V. Pangilinan said in a statement that the upgrade from Moody’s reaffirms the soundness of company’s business strategy to transform into a fully integrated telco operator offering a complete suite of advanced communications services.

The dominant carrier continues to evolve into a full pledged multimedia service provider by pursuing multiple platforms with the successful investment through MediaQuest Holdings Inc. in TV5 and Cignal TV as well as The Philippine Star, The Philippine Daily Inquirer, and BusinessWorld.

PLDT has earlier earned the distinction of being the first Philippine corporate to be given investment grade credit ratings by Moody’s, Standard & Poor’s Ratings Services, and Fitch Ratings.

Last July, PLDT also received a one-notch upgrade from S&P, raising its long-term foreign currency credit rating to BBB- or investment grade with a stable outlook from BB+ or one notch below investment grade with a positive outlook.

On Monday, Moody’s upgraded the local currency issuer rating and foreign currency bond rating of PLDT by one notch to Baa2 or a notch above the minimum investment grade from Baa3 or minimum investment grade. The ratings outlook is stable.

Moody’s assistant vice president and analyst Yoshio Takahashi said in a statement released late Monday that the credit rating of PLDT is constrained by a two-notch differential with the sovereign credit rating of the Philippines that was also upgraded to Ba2 or a notch below investment grade from Ba3 or two notches below investment grade.

http://www.philstar.com/Article.aspx?articleId=865157&publicationSubCategoryId=66
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