AAA Rated Research

Release Date: April 17 2020

Head of Research Chris Mangun

Stock In Focus: $FRUIT

FRUIT (Fruitas Holdings, Inc.) Daily Chart Closing Price: 1.36

Technical Drivers
• The stock is up 52% from its low of P0.90 four weeks ago.
• It is trading above its 8-day and 20-day, and 50-day moving average.
• The stock has been trading between P10-30 Million per day.
• The stock may continue higher to test resistance at P1.60. If it pulls back and holds support at P1.30 this will still be a good
buying opportunity.

Fundamental Drivers
• Fruitas Holdings, Inc. opened its first “Fruitas” Fresh From Babot’s Farm on February 1, 2002 at SM Manila. Fast forward to 2017,
FHI now has more than 800 profitable stores across the Philippines located in prime commercial establishments and
institutions.
• As of Nov. 26, 2019, the company already has 1,036 stores across the country.
• Since its establishment, FHI has expanded its brand portfolio to include Buko Loco, De Original Jamaican Pattie Shop and Juice
Bar, Juice Avenue, Johnn Lemon, Black Pearl, Buko Ni Fruitas, Fruitas Ice Candy to name a few.

Recent Developments
• The company has diversified its distribution network through an expanded partnership with food retailer Pan de Manila.
• They recently launched a campaign for the donation of at least 1,000 bottles of fresh buko juice daily to frontliners fighting the
COVID-19 pandemic.
• The company acquired CocoDelivery to ramp up its delivery channel to serve its fresh and healthy products to more
Filipinos. It has launched #8COCO (#82626) as its main delivery hotline.
• The company is planning to launch two new concepts – first, a fresh store concept under the Babot’s Farm brand: and second, a
grilled chicken concept with a twist on presentation and flavor.
• The company has engaged Hon. Francisco “Isko Moreno” Domagoso, mayor of Manila, as its newest endorser.

DISCLAIMER
This report is prepared by the Research Division of AAA Southeast Equities, Inc. for information purposes. This report may not be published, circulated, reproduced or distributed in whole or in part
to any other person without written consent. This report should not be construed as an offer or solicitation for the subscription, purchase or sale of the security(ies) mentioned herein. AAA has
taken reasonable care to ensure that the information contained in this report is not untrue or misleading at the time of publication, but we cannot guarantee its accuracy or completeness, and
therefore should not be acted upon without first independently verifying its contents. Any opinion or estimate contained in this report is subject to change without notice. The investor bears the
risk of losses in connection with any investment, including those made in reference to the information and recommendation contained in this report. AAA assumes no liability with respect to an 1
investor’s decision based on this report.
 AAA Rated Research
Release Date: April 17 2020
Head of Research Chris Mangun

PSEi Daily Chart

Global equities markets ended lower today as more economic data and
corporate earnings for Q1 come in. Asian markets retreated from their PSE Indexes
highest level in more than a month as investors got a clearer view of the
economic damage of the pandemic. In the U.S., retail sales fell the most on Close % Change
record last month and manufacturing output fell by the most in 74 years, PSEi 5,525.60 -7.07
escalating fears of a deep recession. All Share 3,370.13 -5.11
Financials 1,198.53 -4.88
Here at the PSE, the main index ended with severe losses as investors rushed Industrials 7,315.24 -5.35
to secure any profits that were made in the minor rally that we have been Holding Firms 5,466.67 -6.59
seeing. Property 2,804.54 -8.63
Services 1,242.63 -5.82
We saw high trading volumes again today with turnover value at P8.00 billion
Mining & Oil 4,671.25 -3.69
excluding block sales.

We also saw massive foreign outflows today with P2.14 billion worth of net- Top Gainers
selling.
TECH Cirtek Holdings Phils. Corp. 29.0%
After being the best performer in Asia for the last two days, today the PSEi IMI Intgtd Micro-Electronics, Inc. 16.7%
ends up at the bottom of the list with the most losses. The positive PCOR Petron Corp. 4.0%
momentum for the last three weeks has dried up as there are now more SHLPH Pilipinas Shell Petroleum Corp. 2.9%
sellers than buyers at current prices. Blue-chip issues were sold down WLCON Wilcon Depot, Inc. 2.1%
heavily at the open which continued for most of the trading session, finally
ending at its lowest level for today. It came all the way down and closed right
above its support at 5,500. This may be the turning point as investors run Top Losers
out optimism. We could see it continue lower tomorrow unless it holds at
the current support level. AEV Aboitiz Equity Ventures, Inc. -14.9%
RLC Robinsons Land Corp. -14.3%
Top Disclosures ALI Ayala Land, Inc. -11.2%
MWC (Manila Water Company, Inc.) ICT Int’l Cont. Terminal Services, Inc.-11.0%
The company reported a net income of P4.95 billion for the full year MEG Megaworld Corp. -10.0%
of 2019, down 21% year-on-year.
SHLPH (Pilipinas Shell Petroleum Corp.)
Gainers and Losers are based on companies that
The company reported a net income of P5.62 billion for the full year traded more than P10-Million.
of 2019, up 12% year-on-year.

DISCLAIMER
This report is prepared by the Research Division of AAA Southeast Equities, Inc. for information purposes. This report may not be published, circulated, reproduced or distributed in whole or in part
to any other person without written consent. This report should not be construed as an offer or solicitation for the subscription, purchase or sale of the security(ies) mentioned herein. AAA has
taken reasonable care to ensure that the information contained in this report is not untrue or misleading at the time of publication, but we cannot guarantee its accuracy or completeness, and
therefore should not be acted upon without first independently verifying its contents. Any opinion or estimate contained in this report is subject to change without notice. The investor bears the
risk of losses in connection with any investment, including those made in reference to the information and recommendation contained in this report. AAA assumes no liability with respect to an 2
investor’s decision based on this report.