TUE 15 SEP 2020

Top Story:
Telco Sector: Bayanihan 2 will speed up construction of telco towers

Other News:
Economy: August car sales dragged by 2-week stricter lockdown
Economy: Airlines await Php700Mil loan from Bayanihan II
TEL, ABS: TEL studies opportunities in ABS’ SkyCAble

COVID-19 update:
Infected Count Death Toll Total Recovered
Philippines 265,888 (+4,699) 4,630 (+259) 207,504 (+249)
USA 6,748,828 (+40,481) 198,974 (+484) 4,024,385 (+52,274)
Worldwide 29,433,447 (+258,104) 932,390 (+4,434) 21,264,981 (+246,900)

Market Summary:
The local equities market continued to rise on Monday as investors picked up battered large-cap stocks.

The PSEi gained 29.18 points or 0.48% to close at 5,997.14. The top movers were ALI (+2.96%), MEG (+2.93%), DMC (+2.72%), JGS
(+2.53%), and GLO (+2.21%). On the other hand, the main drags were PGOLD (-2.90%), AGI (-2.31%), AEV (-2.05%), TEL (-2.02%),
and URC (-2.00%).

Value turnover rose to Php4.7Bil from Php4.2Bil in the previous session. Meanwhile, foreigners remained net sellers, disposing
Php59.8Mil worth of shares.
Top Story:
Telco Sector: Bayanihan 2 will speed up construction of telco towers

The Bayanihan 2 law allows a temporary three-year suspension of the many permits and clearances (excluding building permits) required
by telco companies to build cell towers. All applications for cell sites and similar telco facilities must also be approved or disapproved
within seven days from date of application. The easing of permits and streamlining of regulatory processes will speed up the construction
of telco towers and further improve the country’s telco and internet services as the pandemic accelerates digital transformation in
workplaces and schools. (Source: Manila Bulletin)

Other News:
Economy: August car sales dragged by 2-week stricter lockdown

The automotive industry's sales were pulled down in August as the country underwent stricter lockdown measures for two weeks. In
particular, data from Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA)
showed that vehicle sales stood at 17,906 units in August 2020, 39.5% lower y/y. This figure is also 12.8% lower compared to the previous
month and a reversal of the m/m growth since April 2020. Vehicle sales for the first eight months were down 47.6% y/y to 123,489 units.
CAMPI president said that the decline in sales for the said eight months is also attributable to weak consumer confidence and economic
slowdown. Hence, spending especially for big ticket items remained lackluster. (Source: BusinessWorld)

Economy: Airlines await Php700Mil loan from Bayanihan II

The Air Carriers Association of the Philippines (ACAP) said that about Php700Mil had been allocated for local airlines from the Bayanihan
II. Hence, ACAP Executive Director and Vice-Chairman Roberto Lim said that each local airline is expected to receive around Php140Mil
loan assistance under the economic stimulus package. Moreover, government financial institutions are supposed to get Php30Bil equity
infusion to give them funds to lend or invest. Mr. Lim noted that if those funds will be lent or invested in the transportation industry, the air
sector may get loans, equity of Php10Bil. (source Businessworld)

TEL, ABS: TEL studies opportunities in ABS’ SkyCAble

TEL said that it was exploring opportunities in Sky Cable Corp., a subsidiary of ABS. However, the company noted that there is nothing
definite or disclosable at the moment. On the other hand, ABS announced that it has not solicited any bid to sell SkyCable, nor has it
made any decision with regard to a divestment of SkyCable. (source: Businessworld, ABS)