Philippine Economy Talk

[Monseratto]

Example natin what may happen...

Labour crunch and supply delays: Some construction firms in Singapore feeling the strain of COVID-19 - CNA

SINGAPORE: Construction firms in Singapore are starting to feel the strain from labour shortages and supply chain disruptions caused by the outbreak of COVID-19, with some seeking deadline extensions for their projects.

Over at Teambuild Construction Group, it has seen a “significant impact” as many of its workers with expertise in areas such as reinforced concrete works, are from China.

Adding to its manpower woes, there has been a “sharp rise” in the number of Bangladeshi and Indian workers requesting to return home, a company spokesperson told CNA.

“The workers are very worried about catching the disease here,” he said.

Besides labour woes, industry players also have to contend with the issue of late deliveries of machinery and raw materials such as tiles and steel coils, as factories in China were shut for an extended period after Chinese New Year and have been slow to restart.

Nearly two thirds of those surveyed by the Singapore Contractors Association Limited (SCAL) said their supplies of materials and equipment have been “severely or very severely affected”. The poll done by the association last week involved 133 of its members.

Not just construction raw materials, companies are also facing a shortage of face masks, including the N95-type masks, which workers don as part of their protective gear during operations such as cutting and cement mixing, said SCAL’s president Ng Yek Meng.

Teambuild Construction Group, for instance, said it is "currently seeking all possible assistance" to request for extension of time (EOT) as the impact has been "substantial".

It is not alone. A Feb 18 report by Reuters said some local construction firms are seeking legal advice on invoking the force majeure clause in their building contracts. Force majeure refers to unexpected external circumstances that prevent a party from meeting contractual obligations.

Ms Spring Tan, partner at Withers KhattarWong, said the law firm has spoken to four clients with “preliminary inquiries, not specifically on the option of invoking force majeure but whether they can get EOT to complete their projects”.

These companies either employ Chinese workers or subcontractors, or have factories in China that have had to close. Unable to meet production and delivery deadlines, they are concerned, said Ms Tan.

[Monseratto]

Bad timing...

PAL Admits Financial Trouble, Five-star and Expansion Plans in Jeopardy - Philippine Flight Network

[tidus1203]

I am not convinced that PAL's business model (full service) will work here. Our country is poor and the market for travel is small vs our neighbors. You see when it comes to domestic travel why bother with PAL na meron naman Cebu Pacific and Air Asia for fraction of the price. Tutal who needs food and good service we are talking here of a 1 hr flights mostly (Manila-Cebu) and maximum of 2 hr flight if you fly from North to the South of the Philippines.

As for international flights same idea... If we are talking about flights that are 3 hours or less (South East Asia, parts of China and Taiwan) then again what is 3 hours of torture if you sve money to spend more on your vacation...

As for long haul naman like USA and Canada there are the regional airlines with advantage of a larger market and a much better hub. Cathay, EVA Air and ANA come into mind. They offer cheaper fares because of their hub and spoke model on long haul vs PAL's direct flight. So if di ka naman masyado naaabala sa idea of a 2-3 hr layover in a nice airport then might as well save $200-$250 on your ticket. Same with London, I could use a Middle East carrier like Qatar or Emirates.

So honestly, PAL is in a rock and a hard place. The only routes I feel I would use PAL is probably Dubai and Australia/New Zealand due to lack of options... The others Cebu Pacific na or regional full service airlines for long haul...

[uls]

keep in mind this is both supply shock and demand shock

Supply shock -- when humans don't show up for work companies shut down production shuts down goods don't get made goods don't get delivered

Demand shock -- when humans are sick or quarantined or scared they don't go around spending money

[uls]

except of course panic buying basic goods

[Athrunzala]

Bad timing...

PAL Admits Financial Trouble, Five-star and Expansion Plans in Jeopardy - Philippine Flight Network

yan ang problema kapag infiltrated ng mga komunista ang workers' union mo

[uls]

balita mga tenant ng mga mall gusto humingi ng relief sa pagbayad ng rent

[tidus1203]

balita mga tenant ng mga mall gusto humingi ng relief sa pagbayad ng rent

Retail wasn't in a good place already (except some bigger SM malls). Then this... Buti di super lakas ng tourism industry ng Pinas. Imagine Thailand, almost 1/5 ng economy nila is tourism and industries nakatali sa tourism...

[dr. d]

balita mga tenant ng mga mall gusto humingi ng relief sa pagbayad ng rent

the airport operators are being requested in going lenient on the airplane parking collectibles.

[Ry_Tower]

balita mga tenant ng mga mall gusto humingi ng relief sa pagbayad ng rent

Yup, officially nagbigay na nang letter sa management.

[Monseratto]

After crashing at the start,

Dominguez orders GSIS, SSS to purchase more shares amid stock market slump | Inquirer Business

[kagalingan]

in time like this, ok pag meron ka farm na meron duck, native chicken that will mate, kalabaw for milk, pork and cow for meat. Tapos the most important source of natural water mineral.

pag nagkalockdown hindii ka maboboring.

I hope protectahan yung agricultural farming bawal gawin residential village/condo.

kasi pag total crisis eh ang paper money walang halaga. Mas magiging importante ang basic goods and skills.

[Monseratto]

After falling more than 400 pts... the PSEi is again being propped up by SSS and GSIS money. now 280 pts down.

[Monseratto]

Even the government propping up the stock market didn't help... PSEi closed 7.92 percent DOWN...

ALI share prices closed at 28.8... presyong 2014.

[kinyo]

nakupo bad news yata ito

Philippine Peso’s Haven Status Appears to be Quickly Evaporating

[dreamur]

How much is the paper loss so far?

Worst-hit in ASEAN – Duterte’s lockdown could bring PH economic growth to its lowest since 29 – Goldman : Bilyonaryo

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[xwangbu]

me...600k petot.

[Monseratto]

PSEi opens tomorrow... Bloodbath?

[Ry_Tower]

me...600k petot.

That is significant. Buti ako nakuha ko na Jan pa lang.

[NiCe2KnowU]

PSEi opens tomorrow... Bloodbath?

Depende, tomorrow ba Yung 50 bps na sinasabi ni diokno.
Pwedeng mabilisang trade SA umaga bago bumuhos NG closing, baka mafreeze kasi pera NG investor kpag close ulit Ang psei NG Friday.. [emoji857]

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