Philippine Economy Talk

[uls]

Shell pala si LM? SBO or PSPC?

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sa pagkaalam ko po

dunno the details

[uls]

Petron turns Vacuum Tower Bottoms into diesel, Kero, even naphtha products. Ang pinaka-latak sa petron, coke fines, which is sinusunog as fuel sa SMC Power Plant. Walang tapon.

ok

bottoms into naphtha?

galing naman

[tarzegetakizerd]

ok

bottoms into naphtha?

galing naman

yep. Dati din naman supplier si petron ng bitumen and fuel oils for tankers, etc. pero since inupgrade yung planta in 2012, wala na yung ganun products

Foster Wheeler Wins Engineering and Procurement Contract for Petron Refinery Upgrade in the Philippines | Business Wire

[uls]

yep. Dati din naman supplier si petron ng bitumen and fuel oils for tankers, etc. pero since inupgrade yung planta in 2012, wala na yung ganun products

Foster Wheeler Wins Engineering and Procurement Contract for Petron Refinery Upgrade in the Philippines | Business Wire

ok thanks dude

[StockEngine]

Petron had the advantage of further converting bottoms (Latak) into valuable products, which Shell couldn't. The updated tech would have made Petron more competitive than Shell, but the losses due to double taxation is too much.

Seems like the government would turn a blind eye on this one



Petron refinery to close ‘very soon’ | BusinessWorld

Sayang the jobs

[shadow]

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[uls]

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^^^

"lingering household caution" -- many still not going out coz takot sa virus

"limited fiscal policy support" -- this is what i keep bringing up... need gov't stimulus... pero wala

"permanent damage to corporate sector balance sheets and the labor market" -- madami receivables mga companies di makolekta

and companies are not in hiring mode

and last but not least the strong peso which i said is not really a good sign coz it means mahina ang imports (mahina demand for $$$) dahil mahina ang domestic demand

[uls]

pero ok ung strong peso sa mga may dollar denominated debt

[Monseratto]

A friend in Vmall who pays 110k/month for their unit renegotiated their contract. Their June-August lease went down to 35k/month...

“Shang Properties, the owner of the Shangri-La Plaza Mall, just reported that receivables over 90-days-old from tenants of the Ortigas mall for the third quarter of the year had grown to P24 million from only P4.75 million a year ago. The larger aging accounts came amid shrinking revenues, with Shang reporting P92 million receivables by end-September, compared to P195.3 million for the same end-period last year.”

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[boybi]

pero ok ung strong peso sa mga may dollar denominated debt

Lugi exporters. Thats Php2.50 for every USD1.00 since start of lockdown in March.

[uls]

Lugi exporters. Thats Php2.50 for every USD1.00 since start of lockdown in March.

yup

OFWs and BPOs din

dollar earners are getting less pesos for every dollar

[c_cube]

And hooray for importers

Pero wala din orders. Bagsak sales :twak:

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[Monseratto]

Shopping malls facing highest vacancy rate since Asian crisis | Inquirer Business

[uls]

And hooray for importers

Pero wala din orders. Bagsak sales :twak:

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yup kaya malakas ang PHP vs USD

mahina kasi demand for dollars

mahina domestic market so why would importers keep ordering from suppliers

[Monseratto]

Highest vacancy since Asian Financial crisis...



Mall vacancy rates approaching AFC levels | BusinessWorld

“A lot of retailers are going online, and we don’t expect them to expand their bricks and mortar space in the near term,” said Joey Roi H. Bondoc, Colliers Philippines head of research.

“Consumer confidence is at a low point, and as a result, we are likely to see a correction in lease rates,” he added.

Colliers expects retail rents to fall 10% by the end of 2020, continuing until next year, until a possible recovery in 2022.

“We are not likely to see a recovery in mall lease rates for the remainder of 2020, or over the next 12 or 15 months. In fact, that recovery will likely happen in 2022,” Mr. Bondoc said.

[uls]

Highest vacancy since Asian Financial crisis...



Mall vacancy rates approaching AFC levels | BusinessWorld

sabi ko nga it's a bad time for commercial real estate

[boybi]

Laki binagsak ng oil, dahil ba sa europe lockdown?

[uls]

^^^

yup coz 2nd wave will hit fuel demand

[Monseratto]

[uls]

wow Wilcon 2121%

i guess it's coz people stay home more madami nakikita dapat i-improve sa bahay

when lockdown eased nagpunta sa Wilcon mga tao

dami lagi naka park sa Wilcon quezon ave whenever i pass there