WED 23 SEP 2020

Top Story:

WLCON: WLCON to have 63 stores by end-2020 (AS OF SEP 22, 2020)

INDICES

Close Points % YTD%

PSEi 5,894.28 -15.04 -0.25 -24.58

COVID-19 Update:
All Shares 3,543.93 -4.84 -0.14 -23.78
Financials 1,142.55 -8.69 -0.75 -38.69
Holding Firms 6,146.71 4.06 0.07 -19.04
Total Cases Total Deaths Total Recoveries Industrial 7,803.99 -15.82 -0.20 -19.00
Mining & Oil 6,007.89 -6.82 -0.11 -25.76

Philippines 291,789 (+1,635) 5,049 (+50) 230,643 (+450) Property 2,744.43 -17.77 -0.64 -33.94
Services 1,455.41 1.56 0.11 -4.94

USA 7,097,595 (+52,433) 205,448 (+982) 4,343,739 (+47,318)

Dow Jones 27,147.70 -510 -1.84 -4.87
S&P 500 3,281.06 -38.41 -1.16 1.56
Worldwide 31,763,721 (+293,402) 974,546 (+5,682) 23,368,416 (+274,948)
Nasdaq 10,778.80 -14.48 -0.13 20.13

INDEX GAINERS

Market Summary:
Ticker Company Price %
FGEN First Gen Corp 25.00 4.17
PGOLD Puregold Price Club Inc 48.60 2.97
The local equities market declined as investors worry about the rise in COVID-19 cases in RRHI Robinsons Retail Hldgs 70.00 2.94

Europe. LTG LT Group Inc 9.04 1.92

SM SM Investments Corp 887.00 0.85

The PSEi slid 15.04 points or 0.25% to close at 5,894.28. The main drags were BDO (-2.00%),
INDEX LOSERS
BLOOM (-1.92%), AEV (-1.80%), ALI (-1.64%), and GLO (-1.61%). On the other hand, these
Ticker Company Price %
were partly offset by gainers such as FGEN (+4.17%), PGOLD (+2.97%), RRHI (+2.94%), LTG BDO BDO Unibank Inc 88.30 -2.00
(+1.92%), and SM (+0.85%). BLOOM Bloomberry Resorts 6.63 -1.92
AEV Aboitiz Equity Ventures 46.50 -1.80
ALI Ayala Land Inc 30.00 -1.64
Value turnover rose to Php4.6Bil from Php4.3Bil in the previous session. Meanwhile,
GLO Globe Telecom Inc 2080.00 -1.61
foreigners remained net sellers, disposing Php655.1Mil worth of shares.

TOP 5 MOST ACTIVE STOCKS

Ticker Company Turnover
ALI Ayala Land Inc 183,453,900
TEL PLDT Inc 162,104,400
JFC Jollibee Foods Corp 160,156,300
URC Universal Robina Corp 152,846,000
BDO BDO Unibank Inc 149,321,500

Disclaimer: All content provided in COL Reports are meant to be read in the COL Financial website. Accuracy and completeness of content cannot be guaranteed if reports are viewed outside of the
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 DAILY NOTES I PHILIPPINE EQUITY RESEARCH

WED 23 SEP 2020

Top Story:

Adrian Alexnder Yu WLCON: WLCON to have 63 stores by end-2020

Research Analyst

Wilcon Depot Inc.

WLCON is targeting to open two more stores by the end of the year to catch up on
HOLD delayed construction from the two months of strict lockdown. This will bring their total
Php16.30 store network to 63 stores by end-2020, lower than its original target of 65 stores. For
2021, the company is looking at opening nine more stores to make up for lost time
during the lockdown. Recall that WLCON plans to expand to 100 branches nationwide by
2025. (Source: Bworldonline)

COL Financial Group, Inc. 2

 DAILY NOTES I PHILIPPINE EQUITY RESEARCH

WED 23 SEP 2020

I M P O R TA N T R AT ING DEFINITIONS
BUY
Stocks that have a BUY rating have attractive fundamentals and valuations based on our analysis. We expect the share price to outperform the market in the
next six to 12 months.

HOLD
Stocks that have a HOLD rating have either 1) attractive fundamentals but expensive valuations 2) attractive valuations but near-term earnings outlook might
be poor or vulnerable to numerous risks. Given the said factors, the share price of the stock may perform merely in line or underperform in the market in the
next six to twelve months.

SELL
We dislike both the valuations and fundamentals of stocks with a SELL rating. We expect the share price to underperform in the next six to12 months.

I M P O R TA N T DISC L AIM ER
Securities recommended, offered or sold by COL Financial Group, Inc. are subject to investment risks, including the possible loss of the principal amount invested.
Although information has been obtained from and is based upon sources we believe to be reliable, we do not guarantee its accuracy and said information may
be incomplete or condensed. All opinions and estimates constitute the judgment of COL’s Equity Research Department as of the date of the report and are
subject to change without prior notice. This report is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of
a security. COL Financial and/or its employees not involved in the preparation of this report may have investments in securities of derivatives of the companies
mentioned in this report and may trade them in ways different from those discussed in this report.

CO L R E S EAR C H T EAM

APRIL LYNN TAN, CFA

VP & HEAD OF RESEARCH
april.tan@colfinancial.com

CHARLES WILLIAM ANG, CFA GEORGE CHING RICHARD LAÑEDA, CFA

DEPUTY HEAD OF RESEARCH SENIOR RESEARCH MANAGER SENIOR RESEARCH MANAGER
charles.ang@colfinancial.com george.ching@colfinancial.com richard.laneda@colfinancial.com

JOHN MARTIN LUCIANO, CFA FRANCES ROLFA NICOLAS JUSTIN RICHMOND CHENG
SENIOR RESEARCH ANALYST RESEARCH ANALYST RESEARCH ANALYST
john.luciano@colfinancial.com rolfa.nicolas@colfinancial.com justin.cheng@colfinancial.com

ADRIAN ALEXANDER YU KERWIN MALCOLM CHAN

RESEARCH ANALYST RESEARCH ANALYST
adrian.yu@colfinancial.com kerwin.chan@colfinancial.com

C OL F INANC IAL G R O UP, IN C.

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EXCHANGE ROAD, ORTIGAS CENTER, PASIG CITY
PHILIPPINES 1605
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WEBSITE: www.colfinancial.com

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