Quick Take: Starlink's local partner and 2 more market updates
Arthaland [ALCO 0.53 6.00%] [link] received a PhilRatings score of PRS Aa, with a Stable Outlook, for the last P3 billion tranche of its P6 billion shelf-registration of ASEAN Green Bonds. PhilRatings also maintained the same PRS Aa rating, with a Stable Outlook, for ALCO’s other tranche of bonds that were already issued under this registration.
MB Quick Take: This is the second-highest rating that an offering can receive from PhilRatings, with the highest being “PRS Aaa”. According to PhilRatings, ALCO’s ability to meet its obligations on these debts is “very strong”. An ASEAN Green Bond is a special type of bond offering that requires the proceeds of the bond raise to go to “green” projects that involve renewable energy or pollution reduction. Nothing much to talk about here, just thought it was a good opportunity to talk about ratings and “green bonds”, even if only for a brief time. Whatever you do, don’t visit the PhilRatings site if your system is sensitive to late-90s web design nostalgia and broken internal links.
Starlink PH (SPH) [link] appears to have picked Henry Sy Jr. as its PH-based technical partner to resell and perform last-mile integration services for new SPH customers. The agreement between SPH and Sy’s company, Data Lake, was signed on Tuesday in Manila. The partners hope to begin selling services “by the end of this year”.
MB Quick Take: There is no information to say whether or not this deal is exclusive. The wording of it makes it sound like Data Lake is just the first authorized reseller of SPH services, but I don’t really have a lot to go on, except that exclusivity is expensive, and when exclusive deals are negotiated and paid-for, the “winners” of exclusivity usually go well out of their way to make sure the word “exclusive” is mentioned as many times as possible in the press that announces the deal. The timeline in the article is also in contradiction with the statements by the Department of Information and Communication Technology, which said that Starlink PH’s connectivity has been pushed back until mid-2023.
MerryMart [MM 1.12 2.61%] [link] signed Piolo Pascual to be the brand ambassador for its MM Wholesale app. Mr. Pascual has committed to a year-long ad campaign that will kickoff this November. In a release to “all consumers”, MM touted its app as being our first “fully-integrated modern Grocery Wholesale APP operating with dynamic live inventory system.”
MB Quick Take: I actually think it’s hilarious for MM to roll this ambassador signing out like this after the high-profile Shopee / Toni Gonzaga disaster. The only thing that could have been better was to dress it up with a teaser pic that had Mr. Pascual’s silhouette, with a caption like “Drop your guesses and CATCH HIM tomorrow at 3PM for the big reveal”.
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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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