Quick notes from around the market
Chelsea [C 1.57] [link] subsidiary received a massive batch of government freebies (“incentives”). Trans-Asia Shipping Lines received the incentives for its RoPax vessel, the TA21, including a 4-year tax holiday, 5-years of “Enhanced Deductions”, and 11 years of “Duty Exemptions”. C claims the 123-meter vessel, which can carry over 1000 passengers, will stimulate the economy in the Visayas and Mindanao regions. Sort of like one of those “it pays for itself!” kinds of justifications.
Filinvest REIT [FILRT 7.16 0.14%] [link] achieved FY21 net income of P1.9 billion, and has declared dividends that resulted in a 6.4% annualized yield relative to its IPO price. This is slightly higher than FILRT’s IPO projections. FILRT shareholders will still want to see the company take advantage of its organic bottom-line growth opportunities, such as increasing its occupancy rate. Doing that would almost be like free money.
GMA [GMA7 15.90 0.76%] [link] declares P1.45/share regular dividend out of FY21 earnings. Based on GMA7’s P16.02 price at the time of the announcement, that’s around a 9% yield. Healthy. A lack of competition is probably pretty great to GMA7 executives and shareholders, but is it in the best interests of consumers? I’d like to hear what the PPC has to say about it.
CTS Global [CTS 1.00 pre-IPO] [link] finalizes prospectus and confirms April 13th IPO date. I haven’t noticed any major changes to the final prospectus; things seem to be moving in the right direction.
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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
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