FRI 29 DEC 2022

Other News:
(AS OF DEC 27, 2022)
TEL: TEL will not engage with US law firms’ probe INDICES
UBP: UBP trims stocks rights offering to Php12Bil Close Points % YTD%
PSEi 6,566.54 1.64 0.02 -7.81
All Shares 3,449.33 7.91 0.23 -9.66
Financials 1,637.40 5.63 0.35 1.94
Market Summary: Holding Firms 6,502.99 1.80 0.03 -4.47
Industrial 9,354.58 -10.51 -0.11 -10.09
Mining & Oil 10,705.30 145.84 1.38 11.49
The local equities market ended flat on Wednesday despite trading in the red for most Property 2,881.37 -21.26 -0.73 -10.51
of the session. Services 1,627.29 19.96 1.24 -18.08

Dow Jones 33,241.56 38 0.11 -8.52

The PSEi inched up 1.64 points or 0.02% to close at 6,566.54. The top gainers were CNVRG S&P 500 3,829.25 -15.57 -0.40 -19.66
(+6.53%), TEL (+4.04%), PGOLD (+3.25%), GLO (+3.14%), and AEV (+2.76%). On the other Nasdaq 10,353.23 -144.63 -1.38 -33.82

hand, the top decliners were MONDE (-2.92%), SM (-2.15%), WLCON (-1.69%), SMPH
INDEX GAINERS
(-1.69%), and ICT (-1.00%).
Ticker Company Price %
CNVRG Converge ICT Solutions Inc 15.66 6.53
Value turnover rose to Php3.7Bil from Php2.9Bil in the previous session. Net foreign TEL PLDT Inc 1313.00 4.04
selling likewise increased to Php120.5Mil from Php47.2Mil on Tuesday. PGOLD Puregold Price Club Inc 34.95 3.25
GLO Globe Telecom Inc 2236.00 3.14
AEV Aboitiz Equity Ventures 57.75 2.76

INDEX LOSERS
Ticker Company Price %
MONDE Monde Nissin Corp 11.32 -2.92
SM SM Investments Corp 910.00 -2.15
WLCON Wilcon Depot Inc 29.00 -1.69
SMPH SM Prime Hldgs Inc 34.90 -1.69
ICT Intl Container Term 198.00 -1.00

TOP 5 MOST ACTIVE STOCKS

Ticker Company Turnover
SM SM Investments Corp 404,663,200
TEL PLDT Inc 265,206,300
BDO BDO Unibank Inc 225,500,300
CNVRG Converge ICT Solutions Inc 189,819,600
ACEN AC Energy Corp 181,482,500

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
COL Financial website as these may be subject to tampering or unauthorized alterations.
 DAILY NOTES I PHILIPPINE EQUITY RESEARCH

THU 29 DEC 2022

Other News:

Research Analysts TEL: TEL will not engage with US law firms’ probe
Frances Rolfa Nicolas
TEL said it will not engage with law firms in the US that expressed their intent to investigate
Denise Joaquin
the company for possible violations of federal securities laws. Kirby McInerney LLP said
Carlos Matthew De Leon
its probe would focus on possible violation of securities laws by TEL offices. Similarly,
Charmaine Co
Robbins Geller Rudman & Dowd LLP said that it would investigate whether or not certain
top executives made false and misleading statements and/or failed to disclose material
information to investors.

In the meantime, TEL disclosed that it is in talks with the concerned suppliers—
Cisco, Ericsson, Huawei, and FiberHome— for potential discounts, cancellations, and
replacements of components to reduce its Php48Bil-budget overrun. (Source: BusinessWorld)

UBP: UBP trims stocks rights offering to Php12Bil

UBP announced a downsizing of the size of its planned capital raising activity to up
to Php12Bil from the Php20Bil target amount reported last October 28. According
to the bank, this will take place through a stock rights offering, though other details
including the timetable were not disclosed. UBP also stated that any additional capital
requirements beyond Php12Bil can be internally generated from existing businesses. This
announcement follows the UBP’s signing of a 3-year syndicated loan facility amounting
to US$358Mil, which it will be using to refinance its maturing USD loan and existing USD
bonds, in addition to funding general corporate purposes. (Source: Philstar)

COL Financial Group, Inc. 2

 DAILY NOTES I PHILIPPINE EQUITY RESEARCH

THU 29 DEC 2022

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

FIRST VICE PRESIDENT & CHIEF EQUITY STRATEGIST
april.tan@colfinancial.com

CHARLES WILLIAM ANG, CFA GEORGE CHING RICHARD LAÑEDA, CFA

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

FRANCES ROLFA NICOLAS DENISE JOAQUIN CARLOS MATTHEW DE LEON

RESEARCH ANALYST RESEARCH ANALYST RESEARCH ANALYST
rolfa.nicolas@colfinancial.com denise.joaquin@colfinancial.com matthew.deleon@colfinancial.com

CHARMAINE CO
RESEARCH ANALYST
charmaine.co@colfinancial.com

CO L F IN ANC IAL G R O UP, IN C.

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WEBSITE: www.colfinancial.com

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