Philippine Economy Talk

[Deestone]

Even sm moa dept store is now into live selling....

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[uls]

Parang gusto ko tuloy lumuwas para mag mall hehe.

haha

hey malls!

your stimulus is coming!

[uls]

BPI BanKo says 62% of SME clients stopped operations due to COVID-19 | Bilyonaryo

grabe ang damage

[shadow]

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[Deestone]

The Manila Times – News | Opinion | Philippines | Asia | World

Legit or fake news but this is an article in manila times....

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[Monseratto]

The Manila Times – News | Opinion | Philippines | Asia | World

Legit or fake news but this is an article in manila times....

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Manila Times is a pro-duterte newspaper, owned by GMA's crony Dante Ang...

At the rate Presidential Alalay is being "advertised" at Manila Times...

[Monseratto]

Pogo exodus seen to empty more than a tenth of Metro Manila offices, condo units | Inquirer Business

“Last night, I got a call from one of the owners of a building in Makati, who’s saying that his Pogo and service provider-clients have started cancelling their lease contracts for lack of business,” Finance Secretary Carlos G. Dominguez III told senators on Wednesday (Sept. 23).

Dominguez said China was clamping down on money transfers, while Pogos in the Philippines were lacking in operators as the Chinese government was also cancelling the passports of workers from the mainland.

The Bureau of Internal Revenue (BIR) earlier told the Inquirer that “plenty” of Pogo workers—mostly Chinese—were returning home as they were afraid of the high number of COVID-19 infections in the Philippines.

But for Dominguez, “the issue is not so much on Pogo revenues but more on the impact to real estate values and businesses.”

Joey Bondoc, senior manager of property advisory firm Colliers Research, told the Inquirer on Wednesday that “in case all Pogos leave, we will see a double-digit office vacancy in Metro Manila.”

“As of the second quarter of 2020, Pogos covered an estimated 11 percent of total leasable office space in Metro Manila, or about 1.34 million square meters,” Bondoc said. “In the second quarter, office vacancy in Metro Manila stood at 5 percent. Hence, if all Pogos leave, we will see a 16-percent office vacancy—leased space by Pogos plus vacancy as of the second quarter,” he said.

Bondoc said the last time that Metro Manila suffered double-digit vacancy in office space was when the Asian financial crisis left 12 percent of offices vacant in 1999 while their lease rates dropped by 16 percent.

Not only office space but also residential units—especially in condominiums where the Chinese workers used to live—will take a hit

“Slower office take up from Pogos is also resulting in slower condominium sales and leasing,” Bondoc said.

“Colliers sees a rise in vacancy among completed or ready-for-occupancy (RFO) condominium units in Metro Manila, especially those that mainly cater to Pogo firms and investors,” Bondoc said.

“We see vacancy rising to 14-15 percent by end-2020 from 11.8 percent in the second quarter of 2020,” he said.

[uls]

Pogo exodus seen to empty more than a tenth of Metro Manila offices, condo units | Inquirer Business

asset price deflation

[EQAddict]

asset price deflation

Yeah. Gotta weather this.

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[baludoy]

bsp's new policy offers respite to pandemic affected credit card holders

BSP to impose 24% credit card rate cap starting Nov. 3 | Inquirer Business

[ray_noel]

Papaalam na kaya si shell sa pinas?


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[jut703]

Papaalam na kaya si shell sa pinas?


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Malampaya is drying up so it makes sense to divest. Also, Malampaya is operated by a separate Shell entity, Shell Philippines Exploration (SPEX). Shell gasoline stations are under Pilipinas Shell Petroleum Corp (PSPC).

Shell has invested billions in its retail business in the PH, one of the biggest markets in the world with over 1,000 stations and close to 30% market share. They won't leave just because of this pandemic.

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[ray_noel]

Malampaya is drying up so it makes sense to divest. Also, Malampaya is operated by a separate Shell entity, Shell Philippines Exploration (SPEX). Shell gasoline stations are under Pilipinas Shell Petroleum Corp (PSPC).

Shell has invested billions in its retail business in the PH, one of the biggest markets in the world with over 1,000 stations and close to 30% market share. They won't leave just because of this pandemic.

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Thanks bruh! I forgot, galing ka pala sa kanila... hehhe.

Malaki kasi binaba ng shlph sa stock market nila.... last time yung refinery ni shutdown...


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[Little Missy]

Globally, Shell is restructuring as an organization, transitioning to renewables, exploring ways to reduce spending on oil and gas. Closing out refineries is part of it.

Exclusive: Shell launches major cost-cutting drive to prepare for energy transition | Reuters

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[baludoy]

si omnipotent dennis uy ang bahala na sa malampaya. ika nga ng matatanda, "ang kay pedro kay pedro at ang kay juan kay juan."

Dennis Uy officially part of Malampaya consortium

[Ry_Tower]

ewan ko ba sa gobyerno natin

kung yan 10 billion binigay nila sa mga nawalan ng trabaho / hanapbuhay sigurado gagastusin agad yan

iikot agad ang perang yan

ang problema ngayon sa economy natin kulang sa money velocity

Wpuld that be enough till yearend. Don't get me wrong, I agree there muat be stimulus and since we are a consumption economy, buying power to the people qould be the fastest way.

I just wonder how much would it take so that we could stay afloat until tourism and OFW remittance picks uo again.

With the trend kasi, parang pati 2021 gapang economy if not worse.

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[uls]

sabi the pandemic + lockdowns left a 2 trillion peso hole in the economy

[boybi]

Wpuld that be enough till yearend. Don't get me wrong, I agree there muat be stimulus and since we are a consumption economy, buying power to the people qould be the fastest way.

I just wonder how much would it take so that we could stay afloat until tourism and OFW remittance picks uo again.

With the trend kasi, parang pati 2021 gapang economy if not worse.

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Without the vaccine, patay pa rin ang economy next year.

[baludoy]

manila pen's future marred w/ uncertainty

HK parent writes off Manila Pen as Ayala lease winds down | Facebook

[_Cathy_]

manila pen's future marred w/ uncertainty

HK parent writes off Manila Pen as Ayala lease winds down | Facebook

NO NO NO!!!! This is a landmark na in Makati. As a child I found that fountain so beautiful. I also love their restaurants. It's my favorite hotel [emoji24] [emoji24] [emoji24]

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