MARKET HEADLINE: SHORT SELLING BY OCTOBER

Ayala Land, Inc.
...increasing warchest

ALI boosts capex to P111B in 2018

AYALA LAND, Inc. (ALI) is ramping up spending for 2018, as the property giant sees solid demand for residential projects.

ALI Chief Finance Officer Augusto Cesar D. Bengzon said this year’s P110.8-billion capital expenditure budget is higher than the annual average of P80 billion it spent from 2013 to 2017.

“I think this year, 2018, will be a landmark year. It’s a transition for the company given that we see good prospects for the market and at the same time, we recognize that we have that platform that we can unlock,” Mr. Bengzon said in a press briefing in Makati City on Wednesday.

The 2018 capital spending is 21% higher than the P91.4 billion ALI spent in 2017. The company has originally set its 2017 capex at P88 billion, but said that they were prompted to spend more given the strength of demand from the property sector.

Residential projects will account for 43% or P47.4 billion of this year’s capex, while 17% or P18.7 billion will be poured into mall projects. Around 12% or P14 billion will be allocated for land acquisitions.

Meanwhile, P8.5 billion will be used for office projects, and P8.8 billion will be for the development of existing estates. ALI also continues to develop its hotels and resorts business, with an allocation of P7 billion for the year.

The remaining P6.4 billion will be spent for services and other investments.

PROJECT LAUNCHES 
ALI also plans to launch P125 billion worth of projects this year. This is 25% higher than the company’s goal of launching up to P100 billion worth of projects last year.

Mr. Bengzon, however, noted ALI was not able to reach its target project launches last year, unveiling 28 projects worth only P88 billion.

Majority of the projects in the pipeline are residential and offices for sale, which will account for P100 billion of projects to be launched this year. The residential projects will be under its AyalaLand Premier, Alveo, Avida, Amaia, and BellaVita brands.

ALI said it will launch two estates in 2018, one located in the Visayas-Mindanao area and another in Quezon City, noting the latter will be a pocket development covering 11 to 12 hectares.

The company currently has 25 mixed-use estates, and a developable land bank of 10,285 hectares.

The remaining P25 billion will be used to develop leasable properties such as malls and offices.

This year, ALI will open two new shopping malls, the first being One Bonifacio High Street in Bonifacio Global City, Taguig. Scheduled to open in March, the mall has a gross leasable area (GLA) of 23,000 square meters.

Set to open in June is Circuit Mall, located in the company’s mixed-use estate in Makati City. The mall will have a GLA of 54,000 sq.m. This will bring ALI’s GLA from malls to 2.57 million sq.m., after ending 2017 with 1.8 million sq.m.

For its office segment, ALI will be opening Ayala North Exchange HQ in Quezon City with a GLA of 20,000 sq.m. in June, and Vertis North BPO 3 with a GLA of 38,000 sq.m. The additional spaces will supplement the company’s 1.02 million sq.m. of leasable space as of end-2017.

“We now have a very broad leasing base, firmly the second largest mall operator in the country… and the largest office landlord in the Philippines today,” Mr. Bengzon said.

FUND-RAISING
To fund this year’s capex, ALI is looking to tap the bond market after other issuers, specifically San Miguel Corp. and SM Prime Holdings, Inc., have conducted their bond offerings.

“You should expect us to be going out very soon, for a combination of bonds and we will also do some bilaterals because there are banks that continue to offer us very good rates,” Mr. Bengzon said.

“The capex roughly will require us to raise about P20 billion, so we’re looking at half from the retail bond segment, and the half from bilaterals owing to banks,” he added.

ALI’s attributable profit grew 21% to P25.3 billion in 2017, as revenues penciled in a 14% increase to P142.3 billion during the period.


source: http://bworldonline.com/ali-boosts-capex-p111b-2018/
Reply
...naks Tongue

ALI in list of world’s most sustainable companies

AYALA LAND, Inc. (ALI) is the only Philippine company included in The Sustainability Yearbook 2018 as one of the most sustainable companies in the world.

In a statement, ALI said the company was 16 points away from the global industry best, narrowing the previous year’s 24-point gap.

Released annually by RobecoSAM, the Sustainability Yearbook is considered the world’s most comprehensive publication on corporate sustainability. To be included, a company must be within the top 15% of its industry and must get a score within 30% of its industry’s top performing company.

The property giant is committed to undertake an aggressive carbon-neutral program that will offset the projected 490,000 tons of carbon emissions from its commercial properties by 2022.

Among its initiatives include “natural light and cooling design, energy efficiency, renewable energy sourcing, and carbon offset mechanisms such as forest regeneration and protection,” ALI said.

To meet its goal, ALI is taking a three-pronged approach by dedicating 450 hectares of its land bank to carbon forests along with efforts to implement passive cooling design in its developments, and shift to renewable energy.

By the end of the program, the real estate company expects the usage of renewable energy in its malls, offices and hotels to increase to 80% from the current 10%.

Ayala Land is setting aside 4.5% or 450 hectares (has.) of its land bank to forests with the capacity to hold 68,000 tons of carbon dioxide equivalent across five sites located in different parts of the Philippines. These “carbon forests” are located in Lio, Palawan (50 has.); Sicogon, Iloilo (148 has.); Alaminos, Laguna (133 has.); Kan-Irag, Cebu (63 has.) and Talomo, Davao City (54 has.)

“As we continue to track our various environmental, social, governance (ESG) metrics in pursuit of carbon neutrality, our inclusion in this year’s Sustainability Yearbook is a reflection of the company’s holistic commitment to environmental conservation,” ALI Sustainability Manager Anna Maria M. Gonzales was quoted as saying in a statement.

RobecoSAM conducts its Corporate Sustainability Assessment every year with a survey of over 3,900 listed companies around the world that are eligible for inclusion in one of the Dow Jones Sustainability Indices.


source: http://bworldonline.com/ali-list-worlds-...companies/
Reply
...capital raising

Ayala Land plans to raise up to P25 billion

AYALA LAND, Inc. (ALI) plans to raise up to P25 billion from a combination of retail bonds, loans, and qualified buyer notes this year to partially finance its aggressive spending program and to refinance existing debt.

In a disclosure to the stock exchange on Wednesday, ALI said its board of directors approved the plan to raise as much as P20 billion through retail bonds and bilateral term loans, which will be used to fund the company’s P110.8-billion capital expenditure budget this year.

The retail bonds will be issued from the P50-billion shelf registration program the company has with the Securities and Exchange Commission since March 2016, which will then be listed in the Philippine Dealing and Exchange Corp. (PDEx). In an earlier interview, ALI Chief Finance Office Augusto Cesar D. Bengzon said the company has P18 billion left in this debt securities program.

Meanwhile, the listed property firm’s board has also approved the issuance of qualified buyer notes to raise up to P5 billion for the refinancing of its short-term loans.

The company previously raised P3.1 billion in short-dated notes, which were also listed at the PDEx, last November 2017 to finance its short-term debt.

ALI has committed to spend P110.8 billion in capital expenditures this year, 21% higher than its actual spending of P91.4 billion in 2017, to support the demand for more residential properties in the country. Around 43% of the capex or P47.4 billion will be allotted for residential projects, 17% or P18.7 billion for mall projects, 12% or P14 billion for land acquisitions.

The remaining portion allocated for the hospitality business and the development of existing estates.

The accelerated capex comes alongside the plan to launch P125 billion worth of projects this year, against the P88 billion worth of projects unveiled in 2017.

MALAYSIAN DEVELOPER
Meanwhile, ALI said it has also completed the unconditional mandatory take-over offer made by its wholly owned subsidiary, Regent Wide Investments Ltd. to minority shareholders of Malaysian developer MCT Bhd.

The company undertook the mandatory take-over offer after it increased its stake in MCT to 50.19% in January, adding 17.24% to its original share. With the transaction, ALI was able to further raise its stake in the company to 72.31%, after taking over some 295.28 million shares held by minority shareholders, or 22.12% of MCT’s total outstanding shares.

ALI initially purchased a 9.16% interest in MCT back in April 2015, which was the company’s first investment in Southeast Asia. The company has since been propping up its stake in MCT, which allows ALI to take advantage of the growing real estate sector in Malaysia.

MCT was founded in 1999 as a construction company, specializing in mixed-use projects that include retail, office, hotel, and mid-range to affordable to residential properties.

ALI’s attributable profit grew 21% to P25.3 billion in 2017, driven by the 14% increase in revenues to P122 billion amid strong demand for residential projects in the country


source: http://bworldonline.com/ayala-land-plans...5-billion/
Reply
PCC green-lights ALI-RALI deal

THE COUNTRY’S anti-trust body has given the go-signal for two joint venture deals last week, one of which involves property giant Ayala Land, Inc. (ALI)’s partnership with Royal Asia Land, Inc. (RALI) to develop a mixed-use estate in Cavite.

In a statement issued Thursday, the Philippine Competition Commission (PCC) said the partnership between ALI and RALI does not result in substantial lessening of competition in their respective relevant markets.

The two firms are currently forming a 50-50 venture company that will acquire, own, and develop a 936-hectare property that covers Silang and Carmona in Cavite. The project is slated to house both commercial and residential components.

Under the deal, ALI will act as the property’s project and development, and sales and marketing manager. It will receive 12% of the joint venture company’s gross revenues for the development management fee, and 5% for the sales and marketing fee.

On the other hand, RALI will participate in the planning and development of the property, which entitles it to a 2% share in the joint venture’s gross revenues.

At the same time, the PCC also approved the proposed partnership between Markham Resources Corp. (MRC) and Alternergy Mini Hyrdo Holdings Corp. (AMHHC) to operate three mini hydro projects, namely Kiangan Mini Hydro Corp., Ibulao Mini Hydro Corp., and Lamut-Asipulo Mini Hyrdo Corp.

The three firms will collectively be called Markham-Alterenergy joint venture companies, which will operate, develop, and maintain run-of-river mini-hydro projects located across Asin, Ibulao, Hungduan, Lamut, and Panubtuban in the Ifugao province.

The PCC described MRC as a local firm whose core business is in electricity generation and/or distribution and/or hydropower plants. On the other hand, AMHHC’s business is focused on the sale, assignment, transfer, mortgage, pledge, exchange, or other disposition of real and personal property.

The PCC noted there are enough players in the relevant market that provide competitive constraints for such a joint venture, allowing MRC and AMHHC to proceed with the transaction.

Companies undertaking merger and acquisition transactions, including joint ventures, whose value meet the P1-billion threshold set out under the Philippine Competition Act must secure the PCC’s approval before closing a deal.

So far, the PCC has received 151 notifications for merger and acquisition transactions with a combined value of P2.25 trillion across the manufacturing, financial, electricity, real estate, and transportation sectors. Of this, 41 are global mergers.

Earlier this week, PCC Chairman Arsenio M. Balisacan said the agency is preparing a proposal that will raise the P1-billion threshold for reporting M&A deals.

The private sector has been pushing for a higher notification threshold since the P1-billion level is considered too low, overburdening the PCC and creating delays for companies involved in M&A deals.


source: http://bworldonline.com/pcc-green-lights-ali-rali-deal/
Reply
...Ayala unit

Alveo records P45.6B in sales

ALVEO LAND Corp. reported P45.6 billion in sales take-up in 2017, breaching its initial target of P40 billion for the year, boosted by the robust take-up for residential lots and condominium units.

The wholly owned unit of Ayala Land, Inc. (ALI) said this is 20% higher than the P38-billion sales take-up recorded in 2016.

“The market segment is still very robust. There’s a lot of resources in terms of cash, domestically. So there’s a lot of confidence there in the market… The demand will continue to be there,” Alveo Land President Jennylle S. Tupaz said in a press briefing on Tuesday.

The company saw the fastest growth in sales for residential lots at 29% to P8.2 billion. The fastest-selling among Alveo Land’s projects were residential lots inside The Residences at Evo City, ALI’s mixed use estate in Kawit, Cavite. It was able to sell out all of the 395 lots, priced at an average of P9.7 million each, in one day.

Condominium units, meanwhile, made up bulk of the company’s sales for the year at P26.3 billion, up 24% from the P21.3-billion sales recorded a year ago. Offices also grew 7% to P10.8 billion.

Alveo Land started 2017 with an inventory or P25.8 billion, supplementing it with P33.2 billion in launches, for a total inventory of P59 billion for the year. Of the total take-up for 2017, P29.2 billion came from its sustaining inventory, while P16.4 billion came from new launches.

Most of the properties sold were located in Makati City, which the company attributed to the performance of ALI’s mixed-use estate in the area called Circuit Makati. Alveo Land’s projects in the 21-hectare estate include residential buildings Solstice and Callisto, and an office project called The Stiles Enterprise Plaza.

“For 2017, Alveo actively marketed several residential and office projects in Makati, Pasig, Quezon City, and South Luzon. In terms of overall take-up, Makati continues to be a preferred location by both local and foreign markets,” Ms. Tupaz said in a statement.

International sales, meanwhile, accounted for 26% of total sales for the year, led by China, Hong Kong, and North America. The company said investor confidence in the economy is attracting foreigners to purchase property here.

This year, Alveo Land looks to launch over P40 billion worth of projects consisting of around 6,000 units. This is double the number of units the company launched in 2017, as it pursues more horizontal projects outside Metro Manila.

The company will be entering two new areas this year — Bulacan and Cagayan de Oro — where it will sell residential lots.

Asked for the company’s target sales take-up for the year, Ms. Tupaz said it wants to “stay at that level or even higher than that.”

“We have to source our growth not just in the CBDs (central business districts) where land is limited so we’re really gonna have to go out and tap new markets. And it’s good, maganda ang economy ngayon (the economy is doing well),” Ms. Tupaz said. 


source: http://bworldonline.com/alveo-records-p45-6b-sales/
Reply
6-21

ALI unit expands Davao luxury residential project

AYALA LAND Premier (ALP) is launching the second tower of its luxury residential project in Davao City within the year, after seeing strong demand for the first tower where it generated P2.6 billion in sales.

The luxury unit of Ayala Land, Inc. (ALI) said on Wednesday it has sold out the first tower of The Residences at Azuela Cove during its launch last May 12. The 21-storey seaside tower offers 70 three-bedroom units spanning 181 to 196 square meters (sq.m.), priced at around P36.7 million each.

It also has two penthouse units with four bedrooms each. The 377-sq.m. penthouse unit is priced at P80.8 million each. This indicates a selling price of P194,000 per square meter, making it the most expensive residential property in Davao City.

The company said Davao-based individuals purchased around 70% of the units, while 15% came from Manila residents that had businesses or families in Davao. The remaining 15% came from buyers abroad and neighboring provinces.

“Given the good response for the North Tower, we’re gearing up for the launch of the second tower. And we expect to launch the second tower in the next few months, so very soon,” ALP Head of Sales Paolo O. Viray said in a press briefing on Wednesday.

Mr. Viray said the company will be raising prices of units by 8-10% for the second tower, which could deliver around P3 billion in sales from 77 units.

ALP will be adding garden units at the ground floor of the second tower, instead of the amenity area that will cover the first tower’s ground level.

Mr. Viray said both towers will be completed by 2023, with turnover to residents expected by the end of that year.

Amenities include a residents’ lounge, fitness center, social hall, a 25-meter lap pool, kiddie pool, and play area.

The Residences sits on a one-hectare property within Azuela Cove, ALI’s P20-billion mixed-use estate in Davao City through a 60-40 joint venture partnership with the Alcantara Group of Companies. The project is the first residential development to rise within the 25-hectare property in Lanang, Davao.

Alcantara Group Executive Vice-President Anton M. Hechanova said this is the first high-rise development under their portfolio. Asked if they plan on pursuing more similar projects, the executive said they are still studying its prospects.

“Possible, the Alcantara group we have a lot here in Mindanao. We’re nurturing the area. Our power business alone has thousands of hectares. There are untapped areas in the power location that we might get into. At the moment we’re studying those options,” Mr. Hechanova said during the briefing.

ALI’s development of Azuela Cove started in 2017, and will continue for the next seven to 12 years.

Operational areas inside Azuela Cove include The Shops — a retail strip featuring various restaurants, a 2,000-sq.m. event tent operated by Enderun Colleges which can accommodate up to 1,500 people, and a standard-sized soccer field, basketball court, and volleyball court. The sports facilities are managed by SPARCorp., a company that includes members of the Davao sports and business communities.

Azuela Cove will also house the first St. Luke’s Medical Center outside of Metro Manila. The medical facility will have 250 beds and will be operational by 2022.


source: http://bworldonline.com/ali-unit-expands...l-project/
Reply
8-7

...this is very good for ALI

Ayala Land earnings jump 18% in 2nd quarter

By Arra B. Francia, Reporter

AYALA LAND, Inc. (ALI) expanded its attributable profit by 18% in the second quarter of 2018, as the company reported growth across its residential, office, mall, and other businesses during the period.

ALI Chief Finance Officer Augusto Cesar D. Bengzon said in a briefing in Makati yesterday that net income attributable to equity holders of the parent climbed to P7.21 billion in the April to June period, from P5.9 billion in the second quarter of 2017. Revenues meanwhile went up by more than a third to P43.4 billion, versus the P32.9 billion it posted in the same period a year ago.

This pushed the company’s attributable profit 18% higher to P13.5 billion in the first half of 2018, while revenues gained 25% to P80.4 billion.

“The economy continues to be very supportive of the property sector. There has been growth across the board in all product lines. For the balance of the year, given what we’re seeing in the economy, we’re optimistic we will be able to sustain growth we’ve achieved in the first half of the year,” ALI President and Chief Executive Officer Bernard Vincent O. Dy said during the same briefing.

For the first six months of 2018, revenues from the sale of residential lots and units, office spaces, and commercial and industrial lots surged 27% to P55.7 billion, while commercial and industrial lot sales increased by 16% to P3.9 billion.

Reservation sales for the six-month period improved by 17% to P72 billion, indicating a monthly take-up of P12 billion. It launched five residential projects during the period, namely The Residences at Azuela Cove in Davao, Cerilo Phase 4 and 5 in Laguna, Callisto Tower 2 in Circuit Makati, Ametta Place Phase 3 in Pasig, and Avida Towers Abreeza Tower in Davao.

The listed property developer also recognized P4 billion in sales from its investment in Malaysia through MCT Bhd, where it is currently completing an integrated development in Southern Klang Valley as well as a residential project in Cyberjaya.

For malls, ALI ended the first half with 1.81 million square meters in gross leasable area, with an average occupancy of 89%. The company’s malls command an average lease rate of P1,060 per sq.m. per month.

The office segment meanwhile had 1.02 million sq.m. in GLA by the end of the first half, 93% of which have been leased out. Lease rates are priced at P742 per sq.m. every month on average.

Sales of residential projects, offices, commercial and industrial lots accounted for 68% of the company’s net income for the period, while mall leasing, office leasing, hotels and resorts, and property management provided for the remaining 32%.

Mr. Bengzon noted ALI has not come close to the 50-50 contribution target from residential development and leasing businesses, due to the strength of the latter. The ALI official was referring to the company’s 2020 vision, which targets to generate P20 billion in revenues from both residential development and leasing segments by 2020.

“What’s important is we’re growing both developments. We don’t want to artificially contain the business… we continue to grow based on the best opportunities that we see,” Mr. Dy explained.

The company has spent P48.4 billion in capital expenditures for the first half of 2018, out of its P110.8-billion allocation for the year. Of this, 45% was spent to complete residential projects, 25% for commercial leasing projects, 15% for equity investments, including for its Malaysian unit MCT Bhd and Prime Orion Philippines, Inc., 10% for land acquisitions and five percent for estate development.


source: http://www.bworldonline.com/ayala-land-e...d-quarter/
Reply
8-8

...uutang

Ayala Land mulls P5-billion bond issuance

AYALA LAND, Inc. (ALI) is mulling the issuance of P5 billion worth of bonds before the end of 2018 to partly finance its capital expenditure for the year.

ALI Chief Finance Officer Augusto Cesar D. Bengzon said the company may issue the bonds out of its shelf registration from the Securities and Exchange Commission, as they have P8 billion left from the three-year program.

“(We can issue) maybe another P5 billion… We still have remaining P8 billion in our shelf registration. We can use it,” Mr. Bengzon said in a media briefing in Makati City on Monday.

The listed property developer earlier said it plans to raise P20 billion from a combination of bilateral loans from banks and retail bonds. So far, it has raised P15 billion — with P10 billion through the bond market and P5 billion from bilaterals.

“We’re still assessing the market. Technically, there is no urgency,” Mr. Bengzon said.

The funds will potentially be used to finance part of ALI’s P110.8-billion capex for this year. This year’s capex is 21% higher than the P91.4 billion it spent in 2017, as ALI wanted to take advantage of the strong demand for residential properties in the country.

ALI has already spent P48.4 billion from its capex during the first six months of the year. Residential projects cornered bulk of the spending at 45%, followed by commercial leasing projects at 25%. Fifteen percent was used for equity investments; 10% went to land acquisitions, while the remaining five percent was for real estate development.

Noting the capex rollout was slow during the first half, Mr. Bengzon said the company will still be able to spend what it has set aside. “We pushed back some project launches, but we will be able to catch up on that in preparation for next year,” ALI Senior Vice President and Head of Residential Business Group Robert S. Lao said.

The company targets to launch P125 billion worth of projects this year, consisting mostly of residential and offices for sale under its AyalaLand Premier, Alveo, Avida, Amaia, and BellaVita brands.

Mr. Lao said this will allow ALI to book a 13% growth in reservation sales for the year. In the first six months of 2018 alone, the company managed to book a 17% increase to P72 billion in reservation sales. This means that ALI sold P12 billion worth of projects each month this year.

ALI launched five residential projects for the first half, namely The Residences at Azuela Cove in Davao, Cerilo Phase 4 and 5 in Laguna, Callisto Tower 2 in Circuit Makati, Ametta Place Phase 3 in Pasig, and Avida Towers Abreeza Tower in Davao.

ALI’s net income attributable to the parent grew by 18% to P13.5 billion in the first six months of 2018, on the back of a 25% increase in revenues to P80.4 billion.


source: http://www.bworldonline.com/ayala-land-m...-issuance/
Reply
8-13

...supporting students while earning profit from it

ALI investing P2.7B in dorm towers

Property giant Ayala Land Inc. expects to invest P2.7 billion in developing a chain of dormitory towers for young professionals under the brand “The Flats,” the first of which will open in September in Amorsolo, Makati.

ALI group head for strategic landbank management Anna Ma. Margarita Dy said The Flats would open one new project in a new site each year through 2021.

The P2.7-billion investment will cover 5,120 beds in 1,281 rooms in the pipeline in four sites in Makati and BGC.

The Flats Amorsolo in Makati will offer bed-spacing for P6,250 a month including value-added tax, Dy said.

“We have also incorporated options to rent by room,” Dy said.

Tenants will have to commit to a minimum term of six months. Tenants seeking to rent beds will be randomly assigned but occupants per room will have to be of the same gender.

The second site is The Flats BGC on 5th Avenue, which will open in the first quarter of 2019, Dy said. The next will be in BGC Parkway, which will open in the first quarter of 2020.

The fourth development is a two-tower structure in Circuit Makati, which is expected to open by 2021.

Each flat has an estimated size of 20 to 24 square meters and designed to be occupied by up to four people. It is fully furnished with a bed and mattress, workstation, wardrobe cabinet, toilet and bath and a mini kitchen. A property management team will take care of the administration, safety, and security.

Investing in dormitories catering to young professionals in the central business districts, especially business process outsourcing (BPO) workers, is seen as a new growth area for property investors and developers.


source: http://business.inquirer.net/255554/ali-...orm-towers
Reply
8-28

...loading up na pala mga foreigns dito eh Tongue

OUTLIER: Ayala Land, Inc.

FOREIGNERS loaded on Ayala Land, Inc. (ALI) stocks last week, making it the most actively traded stock in the local bourse during the period.

ALI had the highest value turnover last week, with P2.519 billion worth of 57.82 million shares exchanged hands on the trading floor from Aug. 20 to Aug. 24, data from the Philippine Stock Exchange showed.

Its shares closed at P43.9 apiece on Friday, down 0.9% from the previous day, but gained 3.29% on a week-on-week basis. For the year, ALI shares are down 3.52%.

“We can attribute this to foreigners going back to the local market. Foreigners are looking for highly liquid stocks, with high recurring income contribution, preferably in a growing industry, and with an adequate share price upside. All of these points to ALI,” said John Paolo D. Ayson, equity research analyst at RCBC Securities, Inc.

Stock market data showed net buying on ALI amounted to P693.34 million from Aug. 20 to Aug. 24, a reversal of the P23.51-million net selling a week before.

Mr. Ayson noted ALI as one of the most liquid stocks as well as having a high recurring income from its malls and office businesses, which is supported by the property sector’s “fast pace” at around 17%.

ALI’s latest earnings report showed attributable profit expanding by 34% to P7.97 billion in the second quarter from P5.95 billion in the same period last year. This brought its January-June attributable profit up 18% to P13.5 billion.

Jeng T. Calma, trader at A&A Securities, Inc. said that an immediate reason for capturing ALI stocks would be its cash dividend distribution on Sept. 6, with a dividend rate at 0.2%. She also said ALI’s stock price settled at a “buying opportunity” price last week, following a sharp dip from a high of P43.20 to a low of P40.35 from Aug. 9 to Aug. 14.

“Inaabangan talaga ang malaking drop ng ALI sa price, kasi mabilis sya usually mag-rebound. (Buyers would usually lookout for a big dip in ALI’s stock price, as it usually rebounds immediately),” she said.

For this week, Ms. Calma expects ALI to stay at its P42 and P46 support and resistance levels, respectively. “This week is another cycle, after ALI reached a new high last week. Investors will lie low in the following days,” she said.

Mr. Ayson also sees ALI trading between the support and resistance levels of P42 and P46, respectively, this week. This could still go up by 18% to his target price of P51.00 in the next 12 months, he said.

Mr. Ayson’s earnings forecast for ALI was at 17% this year, with growth coming from across all its segments.

Under its 2020 Vision, ALI targets to grow 20% annually to hit a net income of P40 billion from its residential development and leasing segments.


source: http://www.bworldonline.com/outlier-outl...-land-inc/
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)