Property: ALI plans to build mall in Legazpi City. Ayala Land Inc. (ALI BUY) plans to invest PHP1b to build a mall in Legazpi City, Albay. This mall is expected to operational by December 2015.
Infrastructure: FLI and MWIDE qualified to bid for ITS PPP project. The Business Mirror reported yesterday that Filinvest Land Inc. (FLI-BUY) and Megawide Construction Corp. (MWIDE-Not Rated) have qualified to bid for the Integrated Transport System (ITS)-Southwest Terminal project worth PHP2.5b. The winning bidder will get a build-to-operate contract for a period of 35 years.
Economy: Dec inflation eases to 2.7%, FY14 at 4.1%. Headline consumer inflation eased further to 2.7% in December, bringing FY14 average to 4.1%. Food and non-alcoholic beverages exhibited further price deceleration to 5.5% in December (from 6.5% last month) which the central bank (BSP) attributes to ample domestic supply. Notably, housing and utilities prices decreased 1.6% in December which BSP believes stems from a downward adjustment in electricity rates resulting from lower generation charges in the Wholesale Electricity Spot Market as well as price reductions in kerosene, LPG, diesel, and gasoline. Core inflation which takes away certain food and energy prices slowed down to 2.3% in December from 2.7% the previous month. BSP says December inflation affirms its assessment of manageable price increases and forecasts average inflation of 3.0% in FY15 and 2.6% in FY16.
- Maybank ATR
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