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PH Resorts FOO is today... spicy times ahead (no ceiling/floor) (Thursday, Nov 5)
Happy Thursday, Barkada --
The PSE closed up 128 points (!!) to 6464 ▲2%.
I'm blown away by your response to the MB Patreon page. I have a hard time putting into words how it feels to see notifications from Patreon, many featuring familiar names from Reddit, Discord, and email chats, saying that someone has donated some money to the MB effort. During a pandemic, a down market, and a crazy year like this. A huge shout-out and humbled thank-you goes out to our new
"Ministop Coffee Crew" patrons: JRVS, Phantom-Spirit, and Jelo Agnasin
"Starbucks Coffee Crew" patron: Karlos Naidas
"Daily Production Team" patrons, Charles A Yeung, FinanceForever, and Marilin Nery! Thank you all for your support.
You didn't have to, but you did, and I appreciate that. I raise my coffee mug in thanks to the Ministop and Starbucks Coffee Crews, and to the Daily Producers, I say keep an eye on your inbox as I'll be in touch to figure out the specific day you'd like to sponsor! To anyone else who would like to contribute, please use this link. Remember, there's no obligation, no special access, and people who don't have an EF yet shouldn't donate! Focus on yourself first. Thank you, Patreon supporters. And thank you to all the Barkadans for reading!
Fast Food ▲5.78% POGO Gaming ▲5.34% 2019 IPOs ▲4.86%
Bottom 3 MB indices:
Telco ▼0.38% MiddleClass ▼0.34% Power Gen. ▲0.29%
Main stories covered:
[UPDATE] PH Resorts [PHR 3.27 susp] FOO is today, be prepared for wackiness... the follow-on offering for Dennis Uy’s integrated casino/resort developer will hit the market a lot like the weird Altus Property Ventures [APVI 13.08 ▲0.62%] offering “by way of introduction” did: with no ceiling or floor. PHR last closed at P3.27/share before it was suspended pending this offering, which was priced at P1.68/share.
MB:BE CAREFUL. Every single AVPI share purchased on its offering day is still underwater. Have a read of what happened on that day (I sort of live-blogged it), when it finished up 82% on the day, but down 93% from its intra-day peak. If you are trading price action, SET YOUR STOPS. You don’t want to end up joining the sad crew of momentum chasers that turned into “invals” (involuntary value investors).
[Q3] Globe [GLO 2002.00 ▼0.89%] profit ▼22% y/y... Q3/20 profit of P4.4bn, down 22% from Q3/19 profit of P5.6bn. Part of that decline could be attributed to the continuing trend of consumers moving away from “traditional” voice and SMS, where margins for GLO are ridiculously high; revenue from these sectors was down 3% y/y to P36.7bn. GLO did say that the “upturn in prepaid top-ups and subscriber acquisitions” was improved q/q by the less restrictive quarantine measures over Metro Manila allowing more people to transact digitally.
MB:Up until the end of Q3, it had been GLO and TEL just tromping around the country harvesting pesos from a captive audience that had no other choice. In the broadband world, Converge [CNVRG 14.72 ▲1.24%] has loudly splashed into the national spotlight through its “PLAYER 3 HAS ENTERED THE GAME” IPO last month. While the stock hasn’t popped, CNVRG has already banked the cash. CNVRG will hit the market with a long history of experience in providing the service that it offers, with the customer support (I know, I know), back-office team, and network of commercial subscriber funnels to efficiently consume new markets. So, while Dito Telecommunity is that same “PLAYER 3 HAS ENTERED THE GAME” moment on the mobile communications front, it’s starting from way further back. It has no proven processes; it’s never processed a transaction; it’s never dealt with an outage; and it’s never performed a network upgrade with live customers. That’s not to say that Dito couldn’t figure it out (it’s probably dangerous for GLO and TEL to discount Dito outright), but it is to say that public-facing communications infrastructure, at scale, is hard. That’s part of the reason why only GLO and TEL have survived. But from Q4 onward, the gloves are off.
[Q3] Century Foods [CNPF 17.00 ▲0.95%] profit ▲15% y/y... Q3/20 profit of P1.032bn, up 15% from Q3/19 profit of P0.898bn. The profit growth was driven by the company’s “”branded marine, meat and milk products” segment, which accounted for 81% of CNPF’s total revenue. Sales in this segment, which includes brands like Century Tuna, 555, Argentina and Birch Tree, were up 16%.
MB:This result might come as cold comfort to some investors. It’s not like people have all of a sudden grown an outsized appetite for canned goods and non-perishable milk products... it’s the pandemic. At first, in the heat of the ECQ lockdown, Filipinos flocked to the familiar safety of CNPF products when presented with the possibility of the country’s supply chain failing, or other apocalyptic scenarios that had all barangays seriously considering what life would be like to have barangay captains ration food out to residents amid a medical catastrophe of unknown severity. We filled our storage areas with tuna, corned beef, and whatever else might taste ok and not spoil. Then, when our fears of systemic failure did not come to pass, but the ravages of one of the world’s longest lockdowns began to cripple commerce resulting in job losses, under-employment, and vastly reduced household earnings with plummeting consumer confidence, we “downshifted” our eating habits to recognize the need to be conservative. Instead of eating at a restaurant, we went to Jollibee. Instead of eating at Jollibee, we ate street food. Instead of eating street food, we cooked at home. Instead of fresh meat and vegetables, we bought canned goods. This was explicitly mentioned by McDonalds PH in its conference call with Goldman Sachs that I covered in August. Consumers are shifting down, and that is pushing CNPF up. If the economy improves, and things go back to normal, will these customers stay? What is CNPF doing right now to encourage continued loyalty through changing circumstances?
[Q3] International Container Terminal Services [ICT 115.50 ▲0.43%] profit ▲23% y/y... Q3/20 profit US$69m, up 23% from Q3/19 profit of US$56m. The shipping terminal owneoperator’s revenues are a pretty good proxy for global trade, as they have facilities in the Philippines (including the Manila International Container Terminal), across SE Asia, Africa, the Middle East, and South America. ICT has a fairly clear lack of penetration into Russia/China, Europe, India, and North America, but otherwise has a strong presence in developing countries with significant raw material exports and significant finished goods imports. In Q3, ICT made more revenue (6.7% more) with fewer expenses (1.1% less), an outcome that ICT attributes to “stringent cost management”.
MB:ICT should be well-positioned to benefit from any uptick in global trade. The cost management initiative will serve ICT (and its investors) well in the time between now and when COVID fears begin to lift. We aren’t there yet, but ICT will be one of those “recovery stocks” to watch. It’s probably too early now, but keep an eye on it.
MB is posted to /PHinvest every Monday and Wednesday, but my newsletter goes out daily. To stay in the loop for daily email delivery, please join the barkada by signing up for the newsletter, or follow me on Twitter.
Gamatoto data So after looking through the files of BC i found the gamatoto data... decided to post all the data here. Names
Interns Names 1|0|1|Ralf |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 2|0|1|T-Bone |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 3|0|1|Pam |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 4|0|1|Johann |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 5|0|1|Elmo |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 6|0|1|Joey |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 7|0|1|Clyde |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 8|0|1|Max |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 9|0|1|Sammy |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 10|0|1|Bert |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 11|0|1|Rosie |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 12|0|1|Banjo |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 13|0|1|Angus |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 14|0|1|Ian |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 15|0|1|Elmo |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 16|0|1|Wilbur |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 17|0|1|Ash |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 18|0|1|Felix |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 19|0|1|Chip |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 20|0|1|Kevin |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 21|0|1|Yuta |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 22|0|1|Nate |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 23|0|1|Keith |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 24|0|1|Gary |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 25|0|1|Jack |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 26|0|1|Pedro |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 27|0|1|Hank |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 28|0|1|Morty |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 29|0|1|Boris |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 30|0|1|Derp |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 31|0|1|Helga |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 32|0|1|Imogen |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 33|0|1|Tina |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 34|0|1|Deb |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 35|0|1|Gordy |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 36|0|1|Olli |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 37|0|1|Arnie |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 38|0|1|Yoyo |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 39|0|1|Peet |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 40|0|1|Theo |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 41|0|1|Alex |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 42|0|1|Carrie |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 43|0|1|Ted |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 44|0|1|Annie |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 45|0|1|Simon |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 46|0|1|Marc |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 47|0|1|Jesse |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 48|0|1|Bert |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 49|0|1|Sophie |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 50|0|1|Jen |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 51|0|1|Donny |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 52|0|1|Finn |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! | 53|0|1|Lily |Intern|An unpaid newbie, here for the summer.|Item Pickup chance slightly increased! |
Gamatoto lines with a Hippoe.| after being taken hostage.| in Beverly Hills.| in a bug-infested jungle.| on a skyscraper's roof!| inside an ancient tomb.| during a double typhoon.| at a run-down theme park.| at the unemployment office.| in the 9th circle of Hell.| on the Champs Elysee.| at a 24-hour diner.| with a mysterious stranger.| during a family reunion.| with a childhood friend.| with a wandering hobo.| with the Cat God.| with an obnoxious neighbor.| with their crush from school.| during a blind date.| during a vision quest.| while filling out paperwork.| with Teacher Bun-Bun.| while in prison.| while falling from 30,000ft.| at a mall food court.| while stuck in traffic.| during a self-help course.| while making a cute face.| at a posh nightclub.| in an underground vault.| while lost in the forest.| at the Hospital ICU.| with Sexy Legs Cat.| thanks to Camelle.| with Doge.| due to heartbreak.| due to heatstroke.| with a lewd kappa.| at a Maid Café.| at a friend's wedding.| at a death metal show.| after meeting Moneko.| at the scene of the crime.| inside a public toilet.| on a city bus.| at a condemned warehouse.| while picking a lock.| because of the Illuminati.| thanks to a pyramid scheme.| at a scummy dive bar.| at their parents' basement.| at a Broadway show.| at a speed-dating party.| during his school reunion.| under the cherry blossoms.| at his retirement party.| after making a 3-point shot.| on the first day of school.| and realized they're not a Cat.| at a Las Vegas casino.| at the airport.| at a hidden library.| at a Milanese café.| during a daring heist.| at a Texas rodeo.| at the World Cup.| at the top of Mt. Fuji.| at Bondi Beach.| after a failed one-liner.| at the Parthenon.| while eating a TV dinner.| during a hockey game.| after joining the army.| with their secret admirer.| with the kid from next door.| thanks to the school bully.| while relaxing in the shade.| while climbing the Swiss Alps.| during a massive earthquake.| after winning the Iditarod.| during a press conference.| at a shareholder's meeting.| after an awkward breakup.| while enduring intense pain.| at a three-star restaurant.| while on the verge of death.| in the Chamber of Secrets.| while still in kindergarten.| during a sudden blizzard.| after unexpected betrayal!| while flying a helicopter.| under a cloudless sky.| after losing their tour group.| at the toy store.| while riding a unicycle.| at airport security.| at a child's birthday party.| in the middle of Mumbai.| on vacation in Bali.| next to their father-in-law.| in a bamboo grove.| at a crowded street bazaar.| at a fast-food restaurant.| after eating discount sushi.| at a hot-spring resort.| while in the car.| while watching the clock.| after getting to Heaven.| at the baggage claim.| in the desert.| in a blinding white void.| while firing the Cat Cannon.| on the edge of a cliff.| during the end credits.| at the center of the Earth.| at an office birthday party.| after checking their email.| in the name of science.| at the Rat Kingdom.| at an abandoned hospital.| on an Alaskan fishing boat.| with a famous actress.| on a sinking ship.| in front of their scary boss.| after winning "Best Actor".| while looking at the stars.| with the school principal.| at Yankee Stadium.| during a penalty kick.| at a kebab stand.| at the hair salon.| during a job interview.| with the school nurse.| at senior prom.| with a car salesman.| with a wise old hermit.| at the Tree of Legend.| during interrogation.| at a local flea market.| during Carnival.| without understanding why.| in a gated community.| in front of the mirror.| in an unmarked black sedan.| in the gym sauna.| in the women's locker room.| while hiding in the attic.| during a beautiful sunset.| at the movie theater.| at football team tryouts.| in a dirty taxicab.| at the Cat Base.| with a bicycle thief.| while hiding in a dumpster.| while in the bath.| at a frozen lake.| at the Cyber Academy.| while stuck in Purgatory.| with B-list actor.| after duelling with a Vajira.| in the Enemy Base.| with a teacup in one hand.| while writing a love letter.| at Nyarvard University.| in Jizo's Moving Castle.| in Mekako's workshop.| at [CLASSIFIED].| at Silicon Valley.| at his piano recital.| at the doctor's office.| on an aircraft carrier.| at his ancestor's grave.| during yoga class.| due to family circumstances.| on a packed train in summer.| trying to catch a bird.| as he watched a sad TV show.| during a thrilling chase.| after suffering vertigo.| after appearing on TV.| while interviewing experts.| after Mom yelled at him.| after joining a boy band.| at an Arctic Research Base.| while leading a revolution.| with a chupacabra.| in a moment of desperation.| after losing a title fight.| after studying all night.| while out with Grandpa.| after dropping their wallet.| while texting and driving.| after a romantic proposal.| after a round of karaoke.| after a deep trauma.| at a busy pizza parlor.| during a part-time job.| during final exams.| at the base of Taipei 101.| on a boat to Singapore.| on the street in Manila.| when Sir Seal attacked!| while making casserole.| while being buried alive.| after getting a bad cramp.| while flailing their arms wildly.| after gaining mutant powers.| while under anaesthesia.| during a slumber party.| while wearing a cute skirt.| on Leg Day.| in a ninja village.| during an exorcism.| after writing their memoirs.| with a feisty old guy.| at the bus stop.| during a game of dodgeball.| after losing their tail.| while dreaming of Senpai.| after a 72-hour TV binge.| after eating a whole cake.| while riding an alligator.| on the last day of summer.| during a power outage.| after brain surgery.| at the dollar store.| @| was captured | discovered a lost city | ate food off the ground | got lost in thought | was beaten to a pulp | built their dream home | ran out of breath | was permenantly disturbed | confronted their worst fear | caught an incurable disease | was rejected | followed their true passion | picked some flowers | felt itchy | celebrated their birthday | was groped | got a bag of candy | delivered a powerful speech | had to use the toilet | went golfing with the boss | exploded | took a new job | learned they were adopted | was sold life insurance | got trampled | just couldn't take it | had a quiet family dinner | grew wings and flew away | laughed out loud | went all in on a bet | made a bad investment | cried until they laughed | felt shy | felt like moving to Canada | broke a sacred vow | decided to sue | took a naughty photo | met their biological father | impressed their longtime hero | nearly died of shame | took a new identity | was arrested | felt some relief | inspired an anime series | got deported | made a police report | was reported to the police | really messed up | was put under house arrest | learned the meaning of life | went delightfully mad | went on a rampage | went bankrupt | awoke with a start | ate the best burger ever | did an amazing cartwheel | drank too much | reached enlightenment | mastered the somersault | founded a charity | got caught poaching | resisted arrest | felt deeply nostalgic | developed six-pack abs | got challenged to a duel | got bit by a mouse | felt seriously hungry | saw something suspicious | wept furiously | went on a bender | revealed a conspiracy | littered, then felt bad | trembled in fear | realized the horror of war | was reborn | nodded off for a moment | repeated the question | saw a spooky ghost | missed Mom's cooking | became a vegetarian | steeled their resolve | leaked a scandal | fell in love | made a real mess | danced 'til they dropped | felt sweaty | finished their dissertation | ate nothing but cabbage | fought for world peace | knew true heartbreak | burned their tongue | yawned | became confused | got stalked | threw away some old undies | pretended to work hard | hummed quietly | lost consciousness | nearly choked to death | finally got it together | bought too many donuts | fed some ducks | stole candy from a baby | suspected their best friend | geeked out | stole a pen | got food poisoning | was truly miserable | worked a part time job | decided to take a day off | discovered a dark secret | attended a conference | was playing god | sent the wrong text to HER | avoided eye contact | made a fool of themselves | brushed his teeth | worried about going bald | entered a parallel universe | realized his destiny | was hit on by a stranger | predicted the future | couldn't sleep | played hide and seek | "borrowed" a hotel towel | visited Grandma | avoided a rainstorm | found a weird growth | glowed with pride | snapped out of it | ate a burnt cookie | was completely deluded | dropped their ice cream | shaved his legs | got an amazing hug | hit a home run | smushed a weird bug | tore up a love letter | broke a world record | had their identity stolen | stayed up all night | escaped captivity | received their first kiss | regretted their wasted youth | treated themselves | scraped their knee | bought a new suit | lost their temper | felt confident | was shipwrecked | hoped for the best | got a tattoo | learned something new | watched TV all night | thought You Only Live Once | double-dipped | had a terrible migraine | had just about enough | lost their house key | joined in on a strange ritual | found a pretty blue bird | squealed with joy | gave it all up for love | laughed until they cried | read a great book | drew a comic | thought they might die | bought a condo | nearly drowned | wished they could play piano | defeated a supreme evil | drank some bad milk | felt old for the first time | picked their nose | bought a toupee | got pickpocketed | joined a secret society | enjoyed some hot soup | bought a puppy | couldn't find a toilet | swore vengeance | couldn't find their wallet | almost won the election | forgot why they were angry | smelled something stinky | was filled with regret | couldn't get rid of hiccups | stepped in something gross | folded 1000 origami cranes | turned their life around | trusted their instincts | was taken to the hospital | got knocked out | started a riot | took all the blame | met their soulmate | laughed at the worst time | repaid a lifelong debt | caught the real criminal | tried to look dangerous | forgot where they were going | stuck a pen up their nose | refused to pay sales tax | bought some cheap cologne | stared down a hungry tiger | ruled the mosh pit | did a sick wheelie | refused to sell out | found their high-school blog | created homemade BBQ sauce | completely flipped out | burped | learned to juggle | joined an acapella group | shed a single tear | flipped a table | kept picking their nose | lost a tooth | admired their own booty | drooled just a little | fought off a dozen pirates | came back from the dead | recovered the ring of power | made a pact with a wizard | swore off gluten | finally spoke up | got a phone number | got chased by the KGB | skydived to safety | was really just joking | wasn't impressed | shot only three-pointers | published a zine | camped the spawn point | blew a big bubble | @|
Resorts World Manila main page: This casino is found in Manila, Philippines. Resorts World Manila features 1500 slots and 300 table games for your entertainment. World Casino Directory also books hotel rooms in the major casino resorts in Manila. You will also find pics of Resorts World Manila or find news about Resorts World Manila on our site. resorts world manila This hotel features a casino, a restaurant and a bar/lounge. Free buffet breakfast is provided, as well as free WiFi in public areas, a free airport shuttle and a free casino shuttle. Resorts World Manila takes your palate on a journey to the flavors of the world. Whether you’re in the mood for authentic Cantonese, mouth-watering Japanese-Korean fusion or local Filipino favorites, every whiff, sip and bite is a delight to the senses. Restaurants near Resorts World Manila, Pasay on Tripadvisor: Find traveller reviews and candid photos of dining near Resorts World Manila in Pasay, Philippines. Menus, Address, Photos, Reviews for Restaurants in Resorts World Manila, Newport City, Pasay City, Metro Manila Zomato is the best way to discover great places to eat in your city. Our easy-to-use app shows you all the restaurants and nightlife options in your city, along with menus, photos, and reviews. An inviting beacon set in the world-class casino entertainment complex of Resorts World Manila, Marriot Hotel Manila is the Place to work and play. Belmont Hotel Manila With its opulent yet keen décor and amenities and space-efficient interiors, the hotel only signifies sophistication and class. Resorts World Manila: Average Casino - See 836 traveler reviews, 305 candid photos, and great deals for Pasay, Philippines, at Tripadvisor. Resorts World Manila in Newport, Pasay is without a doubt, one of the hottest lifestyle hubs in the country today. It’s a one-stop (and non-stop) entertainment destination that’s got everything you could possibly want: a shopping mall, a bar, a performing arts theater, a 24-hour cinema, and a casino. Resorts World Manila (RWM) is the first and largest integrated resort in the Philippines. It is a one-stop, non-stop entertainment and leisure destination that features gaming thrills, world-class entertainment, unique events, and exciting lifestyle options.
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