TUE 05 SEP 2017

Other News:

MPI: MPI allots Php700Mil for Cavitex upgrade

CLC: Chelsea Logistics to acquire Starlite Ferries

(AS OF SEP 04, 2017)

INDICES
Market Summary:
Close Points % YTD%
PSEi 8,035.20 76.63 0.96 15.58
The PSEi advanced on Monday, gaining 76.63 points or 0.96% to close at 8,035.20. All Shares 4,761.99 38.72 0.82 19.33
Financials 1,989.03 0.39 0.02 28.27
Index gainers led decliners 22 to 8. Likewise, all sectors advanced with Mining & Oil (+1.82) Holding Firms 7,931.12 93.01 1.19 20.15
gaining the most. Significant index gainers were PCOR (+3.88%), JGS (+2.79%), URC (+2.67%), Industrial 11,111.73 116.56 1.06 0.73
MPI (+2.36%) and ALI (+1.90%). Meanwhile, significant index decliners were SECB (-2.24%), DMC Mining & Oil 13,495.43 241.49 1.82 29.42
Property 3,773.72 52.92 1.42 29.43
(-1.66%) and SMC (-1.00%).
Services 1,729.62 8.53 0.50 13.03

Value turnover decreased to Php6.5Bil from Php11.3Bil the previous session. Foreigners Dow Jones 21,987.56 39.46 0.18 26.18
continued to be net buyers, accumulating Php258Mil worth of shares. S&P 500 2,476.55 4.90 0.20 21.17
Nasdaq 6,435.33 6.67 0.10 28.52

INDEX GAINERS
Ticker Company Price %
PCOR Petron Corporation 10.18 3.88
JGS JG Summit Hldgs Inc 73.8 2.79
URC Universal Robina Corp 150 2.67
MPI Metro Pacific Inv Corp 6.5 2.36
ALI Ayala Land Inc 42.8 1.9

INDEX LOSERS
Ticker Company Price %
SECB Security Bank Corp 244.4 -2.24
DMC DMCI Hldgs Inc 15.44 -1.66
SMC San Miguel Corp 99 -1.00
MER Manila Electric Company 269.4 -0.59
ICT Int'l Container Term 104 -0.38

TOP 5 MOST ACTIVE STOCKS

Ticker Company Turnover
ALI Ayala Land Inc 463,148,900
BDO BDO Unibank Inc 374,457,900
URC Universal Robina Corp 325,714,200
SMPH SM Prime Hldgs Inc 272,073,100
SM SM Investments Corp 261,329,800

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

TUE 05 SEP 2017

Other News:

RESEARCH ANALYSTS MPI: MPI allots Php700Mil for Cavitex upgrade

FRANCES ROLFA NICOLAS
ANDY DELA CRUZ Metro Pacific Tollways South Corp., a unit of MPI, is looking to spend Php700Mil to expand
JUSTIN RICHMOND CHENG
the Manila-Cavite Toll Expressway (Cavitex).The project will involve additional lanes, a flyover,
KYLE JEMMRIC VELASCO
and road improvements in the area of Pacific Drive. This is expected to take approximately
JOHN MARTIN LUCIANO
eight months to complete once the project is approved by the Tolls Regulatory Board. After
ADRIAN ALEXANDER YU
completion, part of the proposal involves an increase in toll fees. (Source: Businessworld)

CLC: Chelsea Logistics to acquire Starlite Ferries

CLC disclosed that it has signed a Memorandum of Understanding with Starlite Ferries, Inc.,
in which CLC is offering to purchase a 100% stake in the latter and its subsidiaries. According
to management, they will first conduct due diligence on Starlite before completing the
deal. Furthermore, this transaction also requires the approval of the Philippine Competition
Commission. Once all steps and regulatory approvals are achieved, CLC will fund the
acquisition using the Php5.5Bil net proceeds from its IPO. Although CLC has not disclosed the
transaction amount, note that they have previously earmarked Php3.2Bil of the total proceeds
for the acquisition of shipping and logistics firms. Starlite and its subsidiaries own 14 vessels,
five of which are brand new Roll-on-Roll-off passenger vessels. Management believes that this
planned acquisition takes them one step closer to realizing more value for their stakeholders
as they continue to provide better shipping and logistics solutions. (source: CLC, BusinessWorld)

SUMMARY OF CHANGES IN SHAREHOLDINGS:

Acquired or Price per

Stock Volume Person (Designation)
Disposed share
10,000 128.60
Maria Rhoda B Orsolino
BDO 6,623 D 128.70
(Senior Vice Presdeint)
4,430 128.80
Ismael G. Estela Jr.
BDO 8,000 D 127.00
(Senior Vice President)
275,500 5.00
117,800 5.01
498,400 5.02
263,200 5.03
949,900 5.04
Jose R. Soberano III
CLI 164,500 A 5.05
(Chairman, President & CEO
282,000 5.06
231,500 5.07
179,300 5.08
57,200 5.09
35,800 5.10
Source: PSE

COL Financial Group, Inc. 2

 CALENDAR OF EVENTS DAILY NOTES I PHILIPPINE EQUITY RESEARCH

TUE 05 SEP 2017 AUGUST

SUN MON TUE WED THU FRI SAT

29 1 2 3 4 5

6 7 8 9 10 11 12

13 14 15 16 17 18 19

20 21 22 23 24 25 26

27 28 29 30 27 28 29

30 31 6 7 8 9 10

K E Y E V ENTS HOL IDAY

AUG 1 AU G 1 7 AUG 2 8
COAL: ANNUAL SH ARE HO LD ER S M EE T ING P P C : A N N UA L S H A R E H O L D E R S M E E T I N G H O L I DAY
EG: A NN UA L S H A R E H O L D E R S M E E T I N G
AUG 8 AUG 2 9
CLC: EQ UIT Y OFFERIN G AU G 1 8 L B C : A N N UA L SH A R E H O LD ER S MEE TING
CLC: LI S TING M F IN: EX- DAT E PH P0 . 0 3 2 C A SH D I V I D E N D
LOTO: E X-DATE PH P0.30 C A S H D IV IDEND GMA 7: A N N UA L SH A R E H O L D E R S M E E T I N G AUG 3 0
2G O: A N NUAL SH ARE H OLDER S M EE T ING GMA P: A N N UA L S H A R E H O L D E R S M E E T I N G D D : A N N UA L SH A R E H O L DER S MEE TING
E W: A N N UA L S H A R E H O L DER S MEE TING
AUG 1 0 AU G 1 9
MED: ANNUAL SH ARE HO LD ER S M EE T ING V: A NNUA L S H A R E H O L D E R S M E E T I N G

AUG 1 5 AU G 2 1
HI : EX-DATE PH P0.065 C A S H D IV IDEND HO LIDAY

AUG 1 6 AU G 2 5
FJP: EX-DATE PH P0.10 C A S H DIV IDEND E V ER : A N N UA L S H A R E H O L D E R S M E E T I N G
WEB : A N NUAL SH ARE H OLDER S M EE T ING

COL Financial Group, Inc. 3

 DAILY NOTES I PHILIPPINE EQUITY RESEARCH

TUE 05 SEP 2017

IMPORTANT RATING 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.

IMPORTANT DISCLAIMER
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 COLs 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.

COL RESEARCH TEAM

APRIL LYNN TAN, CFA

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

CHARLES WILLIAM ANG, CFA GEORGE CHING RICHARD LAEDA, CFA

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

FRANCES ROLFA NICOLAS ANDY DELA CRUZ JUSTIN RICHMOND CHENG

RESEARCH ANALYST RESEARCH ANALYST RESEARCH ANALYST
rolfa.nicolas@colfinancial.com andy.delacruz@colfinancial.com justin.cheng@colfinancial.com

KYLE JEMMRIC VELASCO JOHN MARTIN LUCIANO ADRIAN ALEXANDER YU

RESEARCH ANALYST RESEARCH ANALYST RESEARCH ANALYST
kyle.velasco@colfinancial.com john.luciano@colfinancial.com adrian.yu@colfinancial.com

COL FINANCIAL GROUP, INC.

2402-D EAST TOWER, PHILIPPINE STOCK EXCHANGE CENTRE,
EXCHANGE ROAD, ORTIGAS CENTER, PASIG CITY
PHILIPPINES 1605
TEL NO. +632 636-5411
FAX NO. +632 635-4632
WEBSITE: www.colfinancial.com

COL Financial Group, Inc. 4