Bilyonaryo - Business

Worst one day loss in 32 years: CLSA, BPI Sec, Macquarie lead brokers dumping scandal-rocked PLDT

December 19, 2022

Bilyonaryo.com

PLDT (TEL), the country’s largest telco, got hammered as investors junked the stock after management revealed a P48 billion overrun in capital expenditures.

TEL lost 19.35 percent to P1,192 on Monday, December 19, the first chance investors could get out of the stock after management disclosed the capex bombshell (which happened under the noses of its management from 2019 to 2022) nearly an hour after the closing bell on Friday, December 16.

This is TEL’s biggest single-day loss since January 1990 as it lost over over P60 billion in market value.

A total of P1.48 billion in TEL shares changed hands with net foreign investor selling of P696.15 billion.

Three brokers accounted for nearly half of the total turnover – CLSA Philippines sold 310 million shares at an average of P1,258; BPI SEcurities sold 139 million shares at an average of P1,209; and Macquarie sold 119 million shares at an average of P1,279.

Bilyonaryo reported on Saturday that management has suspended chief financial officer Annabelle Chua and chief procurement officer Mary Rose R. Dela Paz amid the ongoing probe on the budget blackeye.

Related News Tags: BPI, CLSA, Macquarie, PLDT

NAIA privatization update: Manila International Airport consortium’s offer and DOTr’s PPP model under evaluation

The Manila International Airport Consortium’s unsolicited offer of over P100 billion to enhance and revitalize the Ninoy Aquino International Airport (NAIA) remains active, despite the Department of Transportation (DOTr) submitting a solicited Public-Private Partnership (PPP) model to the National Economic and Development Authority (NEDA).

Only 7 flights affected: MIAA downplays June 9 power glitch

The Manila International Airport Authority (MIAA) issued a public apology after a power outage occurred at the Ninoy Aquino International Airport (NAIA) on Friday, June 9.

EEI penalized for breaching PSE rules

EEI Corp., a construction giant partly owned by the Yuchengcos, has been penalized by the Philippine Stock Exchange (PSE) for non-compliance with the consolidated listing and disclosure rules.

Philippine unemployment rate drops to 4.5% in April

The country’s unemployment rate eased further to 4.5 percent in April, according to the Philippine Statistics Authority’s latest Labor Force Survey.

Prime Media bolsters financial position with entry of new investors

Prime Media Holdings Inc. is set to receive a significant infusion of capital with the entry of two new investors.

NAIA privatization update: Manila International Airport consortium’s offer and DOTr’s PPP model under evaluation

Only 7 flights affected: MIAA downplays June 9 power glitch

EEI penalized for breaching PSE rules

Philippine unemployment rate drops to 4.5% in April

Prime Media bolsters financial position with entry of new investors

Trade deficit declines in April

Strike 3 na! NAIA suffers from power outage on Independence Day long weekend

Extra funds: Ramon Ang boosts stake in Top Frontier to 35%, dilutes Iñigo Zobel’s holdings to 53%

BBM’s economic team revises inflation outlook for 2023

Recommended from sister websites

→ Abogado
Remulla dismisses bribery claim by Teves camp: Baloney!

→ Abogado
Muntinlupa RTC told by OCA to resolve de Lima case in 9 months

→ Politiko
Marcos to DOH chief Herbosa: Prevent HIV in young Pinoys

→ Politiko
Anong meron? Lawmakers puzzled by Sara Duterte’s reaction to GMA’s demotion

→ Bankero
Analysts predict “Hold” stance on rates from BSP until Mid-2024, anticipate RRR reduction

Power

Meralco raises electricity rates in June, residential customers to experience higher bills

Manila Electric Company (Meralco) has announced an upward adjustment in electricity rates for June, with an increase of P0.4183 per kilowatthour.

Money

HSBC anticipates P360.1 billion surge in financial system as BSP lowers RRR

British Bank HSBC expects the Bangko Sentral ng Pilipinas (BSP) to absorb approximately P360.1 billion in fresh funds that will enter the financial system by the end of June.

Business

Only 7 flights affected: MIAA downplays June 9 power glitch

The Manila International Airport Authority (MIAA) issued a public apology after a power outage occurred at the Ninoy Aquino International Airport (NAIA) on Friday, June 9.

Property

Sy-blings’ ChinaBank to lend P25 billion for Suntrust’s casino hub along Manila Bay

Suntrust Resort Holdings, a subsidiary of the Hong Kong-listed LET Group Holdings, is borrowing up to P25 billion from the Sy family’s China Banking Corp. to fund the development of the Westside City integrated casino in the Pagcor Entertainment City.