Comparing prices adjusted for currencies then tells us a bit about purchasing power in the various countries. The cheapest Big Mac is in the Philippines ($1.23), the most expensive in Switzerland ($4.90). In other words, the Philippine peso is the world's most undervalued currency, the Swiss franc its most overvalued.
Source: http://www.skyscrapercity.com/showthread.php?t=118957

Does it mean that the true value of the peso should be somewhere near 50:1? Dang politics... always dragging the peso. :D

It's sad... Politics and corruption. During the 1950's it was like 1$ -2 Pesos. In 1997, it was at 26, in 1999 it was at 39 and then in 2002 at 50. Now at 56. You can say that you will find the cheapest things in the Philippines, of course if you were living overseas. An American could buy a lot of things here. And as said, the Big Mac now costs at 50P. (I think there's another discount thing so it's cheaper again) Also, CD's. Most CDs here cost 450, in the US it costs around 600 already (with tax) So yes, the Philippines is a place for bargains. :) It's sad though on how our currency is deteriorating even more and more... But I hope that it would soon come back at least to the 50 mark. I think the true value of the peso to the US dollar should be in the late 40's, 47-49... :) That's just dreams though... It would take us a while to reach back to that level.

in a way though, it's advantageous to 7 million filipinos working abroad. (and their families). a deteriorating currency isn't always a bad thing. it's also good for exports. some countries even force their currencies to depreciate to help their export-based economies.

though a stable currency is best for all.

yeah... its very sad that our peso is quite deteriorating.. but then now it is stilll on a stable level and I hope it will stay that way.... but still I'd be more happy to have it on the 60:1 level unlike what vietnam has which is 15000:1... I became a millionaire in vietnam when my company sent me there for a month....:D

Well, the reason why Vietnam have 15,000 dong per US dollar is because they peg the currency Quartely and the standard living currency in vietnam is different with in the Philippines, Peso.

For example in Indonesia, bigmac here is costing $1.95 or 15,000 rupiah. While the most cheapest stuff you can buy in Indonesia worth at least 2500 rupiah or 25 peso
even ticket in Cinema is worth at least Rp50,000 - 100,000 rupiah OR $8-15USD)
So number aint matter, just look at Yen and Korean Won.

The best thing to compare is between Peso and Thai Baht or India rupee

1$ = 55.99 Peso
1$ = 40.80 Baht
1$ = 44.66 Indian rupee

cheers

even ticket in Cinema is worth at least Rp50,000 - 100,000 rupiah OR $8-15USD

Movies in indonesia cost that much!? How exorbitant! Here, our tickets are less than $2! Even the posh places don't go higher than $4!

I watched the $2 less cinema...and the movie was very outdated.

the most expensive one is on Planet Hollywood, i think around 100,000 rupiah.

cheers

in a very volatile and nonstable economy like ours, I believe it is best to peg the peso at 50php-1usd. Politics are dragging economics so badly.

For years I have believed in a floating exchange rate... but seeing how things are done in our country for decades, I think i'll change my mind.

Truly a hurting peso will help exports... but what about the domestic economy?

I believe if the peso is pegging at 52-53 then the economic will grow even faster than 4.4%

I remember back in the day when IMF advicing Indonesia not to peg the currency and the overcome was even worse than Malaysia that pegging the currency. Indonesian rupiah was as low as 24,000 rupiah before it bouncing back now to 8,800.

cheers

david-80, is it nice in jakarta? Do you have a metro? That's the only city I have not been in SEAsia

Jakarta doesnt have metro yet, they have Busway and KRL (LRT), Jakarta now is building Monorail and by 2005 MRT subway. Hopefully it will success

I myself want to see Jakarta looks like Makati, but previously, back in 90s, Jakarta development is scattered everywhere, it will looks bad in short term but in long term, it should be better.

federal, Jakarta is famous with its traffic jam and not so friendly public transport, so if you wanna visit Jakarta, GreyX sure will help you touring the city, right grey? :D

cheers

Well, the reason why Vietnam have 15,000 dong per US dollar is because they peg the currency Quartely and the standard living currency in vietnam is different with in the Philippines, Peso.

For example in Indonesia, bigmac here is costing $1.95 or 15,000 rupiah. While the most cheapest stuff you can buy in Indonesia worth at least 2500 rupiah or 25 peso
even ticket in Cinema is worth at least Rp50,000 - 100,000 rupiah OR $8-15USD)
So number aint matter, just look at Yen and Korean Won.
So are you saying it's more expensive to live in Indonesia than it is in the Philippines? $1.23 versus $1.95 for a big mac meal. (although i think a local fastfood chain, jollibee has a lot to do with the cheap big mac meals) the cost of watching movies in indonesia is almost equal to the cost of watching movies here in japan... $9 to $16.

i think there's more factors. food in the philippines, fast-foods especially, are quite cheap, because of heavy competition, and also the great availability lowers the price furthermore

well.. I think the standard of living here in the country is still low compared to other countries... minimum wage is still low... so having higher prices on commodities would outlevel everything... ordinary daily wagers would not afford to buy basic commodities... plus competition help provide low prices... except maybe in the gasoline industry that prices are quite controlled by the power 3 (Shell, Petron and Caltex).. even they have minor competitors...

ordinary daily wagers would not afford to buy basic commodities...
tsk,tsk, tsk. :bash:

The good thing about why Manila particulary is a lot cheaper than Jakarta because Indonesian government imposed so many taxes to the goods and anything.

You can buy a new mercedes in the philippines with the price almost the same like the new honda ferio in Indonesia.

So because of taxes, the living cost is affected.

cheers

The good thing about why Manila particulary is a lot cheaper than Jakarta because Indonesian government imposed so many taxes to the goods and anything.

You can buy a new mercedes in the philippines with the price almost the same like the new honda ferio in Indonesia.

So because of taxes, the living cost is affected.

cheers
but now the philippine government is considering adding more taxes to solve our big deficit problem. i actually am amenable to taxing sms (i bet 90% of sms sent in the phils are not really necessary anyways) and overseas filipino workers (including myself) if that would actually help the government. that's the least i can do to help my country.

so nationalistic eh? :D

but i heard that the peso could bounce back to the 52 level sometime this year or something... well, i heard that from the news like last month or something.

but now the philippine government is considering adding more taxes to solve our big deficit problem.
wahhh! :bash: opps, behave! 'give to ceasar what is to ceasar'. ;)

maybe what the government should do is to catch people who aren't paying taxes. many people aren't paying their taxes. Why give more hassle to people who are paying taxes and not to people who are not paying taxes?

in the Philippines, that's a hard thing to do. finding elusive people.

btw, has the peso increased in value against the dollar? GMA's president again, and somehow nothing is changing for the good....

wahhh! :bash: opps, behave! 'give to ceasar what is to ceasar'. ;)
did i say something wrong?

right now closed at 55.66 Hopefully it goes back to 54 by december. I think pegging it to 50 would create and ensure stability in our economy. I envy Malaysia, HK and China. All progressive with fixed exchange rates.

right now closed at 55.66 Hopefully it goes back to 54 by december. I think pegging it to 50 would create and ensure stability in our economy. I envy Malaysia, HK and China. All progressive with fixed exchange rates.

I am hoping the same thing as well. Good to know it's lower. I mean, lower exchange rate = lower oil. Lower oil = lower consumer goods. :D

i hear the peso is improving these past few weeks. what used to be 1 yen = 0.5200 pesos is now 1 yen = 0.4860 pesos at least according to the pnb japan site. :D

did i say something wrong?
huh? wala po. I just want to say that if the government wants to add more taxes...we need to follow it.

pinakamasakit lang is ang baht nasa 42... peso naiwan sa 56

ur ryt federal, to think that just 3 yrs. ago, peso was trading then at 46-48 while thais money plunged to 56-58. well, ganyan talaga buhay....but in fairness to baht, its actualy 1 of the most stable currencies in the world according to asiaweek mag (its nw defunct). the peso's situation is one of the region's most surprising considering the fact that its 1 of d strongest during the 50s-mid60s. it was actualy gma's father who implemented d floating rate (kasi fixed din ang xchange rate natin b4), & the rest is history! from p2=1usd b4 him, it became 3.6, 4, 5, 11(pre-ninoy assasination) & close to 40 (during the 1986 edsa revo). ka-level na lang natin ngayon ang rupiah ng pakistan & india. eeerrrrrr.....

yup yup... :)

we reached 40 during EDSA 1? grabe ah.
I hope i-repeg ulit. Our economy is so small. Only a few can control it. Majority can't. They just follow what's the closing value of the peso.

In 1994, it was only 25 pesos agaimst the dollar but now over 55, what a shame.It really reflects what a stagnant economy we have. My mother said, when she was little, it was only two pesos against the dollar.We really are left behind. Things have to change before we get too much left behind from our Asian neighbors.

In 1994, it was only 25 pesos agaimst the dollar but now over 55, what a shame.It really reflects what a stagnant economy we have. My mother said, when she was little, it was only two pesos against the dollar.We really are left behind. Things have to change before we get too much left behind from our Asian neighbors.

why are soooo negative about the philippines.. can u just hold your horses and just give the philippines a chance! anything can happen u know. its not the end of the world, if the philippines is behind from the other nations in Asia

We'll just continue wishing that our currency can go back to at least 50 next year. I'm optimistic about it... Good luck to our country.

Anybody wants to play...I'm thinking about it.....I want to practice in the Phils. first before going US......
Here's the new development.....For more info, visit the Philippines Stock Exchange website

INVESTORS SEEN PREPARING FOR IPOS
Shares seen mixed or higher

SHARE prices are expected to open mixed or higher on follow-through buying in cheap stocks, but investors will be quick to take profits as they prepare for two big initial public offerings next month, dealers said.

Investors may also opt to stay on the sidelines as they await more 2004 corporate results, with heavyweight Philippine Long Distance Telephone Co (PLDT) scheduled to release its figures Tuesday, they added.

The composite index on Thursday closed up 30.41 points or 1.49 percent at 2, 073.19, on extended bargain-hunting.

The market was closed Friday for a public holiday.

"The current mood remains optimistic that the economy will continue to grow as long as the government remains on track with its fiscal reforms. However, we may see some profit-taking...as investors try to raise cash for the upcoming IPOs of Manila Water Co and of SM Investments Corp," BPI Capital Securities said in a note.

Analysts polled by XFN-Asia said the country's dominant telecom carrier, PLDT, will likely report a record net profit for the past year, supported by its strong mobile phone business.

They expect PLDT's net profit last year to range between 22 billion and 25 billion pesos, well above its 2003 earnings of 11.2 billion.

The profit forecast range does not factor in changes in accounting rules which the company may decide to adopt.

Current P Rate = 54.67:$1

I thought it was supposed to hit 50 sometime? Do they still say this?

the current BSP governor said that if everything that the government's plans push thru, there is a real chance that by the end of the year the peso could reach 50:1..

doesn't have to add tax..if only there is a proper or a better system in collecting taxes..but our government have never been too strict on implementing such system. billions are now lost due to improper tax collection.. Just like last month, when i filed the business renewal. BIR didn't even bother to check if the figure written on the income were true.. what if we were not honest enough to declare the actual income.. i even remember an employee of BIR suggesting me to reflect an amount lesser to the actual.. so u see.. this new tax really is not necessary.. :sleepy:

The rich people with family-owned businesses are the ones that do not pay the proper taxes by reducing their income. Even the doctors who never issues receipts can get away with not paying the right dues. Some even offer bribes to BIR employees which the latter notoriously upheld.

I do remember someone telling that for their small business establishment, they 1) underreported their earnings, 2) kept money for "lagay" and 3) put money aside in case they were auditted.

i dunno if the government is aware of these bullshit(sorry) happening in the system.. or they just playing blind and deaf about these.. grrr.. :bash:
the government must have conducted proper study on the matter before they have ammended the additional tax.. or a study might have been made but still concerned people have used the SUNTOK SA BUWAN system.. which is very common amongst government employee.. i maybe harsh with our government, but i can't help it.. i even tried sending letters to concerned authorities.. yet nothing happened.. perhaps my voice is too tiny enough to be heard..

^ true.. the "lagay system" really can't be eradicated .. mapalocal or national government pa.. pero nasa tao lang yan if u wish give them or not.. but the thing is iipitin ka, that's ur risk!! From these irregularities, millions or billions of pesos have been stolen from the govt. Sa BI, though i cannot name names, these agency have been stealing the Philippines a long time ago.. sa customs.. and a lot to name.. Well, so much for my sentiments .. feel my blood boiling to 100 C

I just hope the government will soon revive it's financial stability.. but if not..well.. i might still be happy since malaki ang value ng EURO!!!

All I can say is we share the same sentiments. :(

the peso just cracked the 54.50:1 barrier!

WoW!!..KeWL.. i didnt know there's a thread for this in here......im interested in PSE im in the stock market too..

i'd rather do this kind of investment than the wrongful immoral jueting which is spreading crazy in our country...

anyway are you involve in PSE sandrin?...i dont really see much opportunies for me now...but late last yr and actually mid lat yr was better for me in PSE compare to now...but im waiting for my chance then i'll pounce when they least expect it...hehe

WHAT ARE STOCKS? SECURITIES?


Stocks are shares of ownership in a corporation. When you become a stockholder or shareholder of a company, you become part-owner of that company. Securities, on the other hand, are proof of one's ownership or indebtedness in a company. Examples of securities are treasury bills and commercial papers, which are considered as short-term and are traded in the money market; and stocks and bonds, which are long-term and traded in the capital market. Securities are easily bought and sold in the stock market.


WHAT ARE THE TYPES OF SECURITIES THAT I CAN BUY IN THE STOCK MARKET?


Most of the issues listed in the PSE are common stocks. Other types of securities such as preferred stocks, warrants, PDRs and bonds are also traded.

Common Stocks - These are usually purchased for participation in the profits and control of ownership and management of the company. Holders of common stocks have voting rights. They are also entitled to an equal pro rata division of profits without preference or advantage over another stockholder. However, they have the last claim on dividends and are the last to collect in case of corporate liquidation.


Preferred Stocks - Its name is derived from preference given to the holders of these stocks over holders of common stocks. Holders of preferred stocks are entitled to receive dividends, to the extent agreed upon, before any dividends are paid to the holders of common stocks. However, preferred stocks usually have a specified limited rate of return or dividend and a specified limited redemption and liquidation price.


Warrants - A corporation can also raise additional capital by issuing warrants. A warrant, normally issued on a detachable basis, allows its holders the right, but not the obligation, to subscribe to new shares at a set price during a specified period of time. It is usually provided free of charge and traded separately in the securities market.


Philippine Deposit Receipts (PDRs) - A PDR is a security which grants the holder the right to the delivery or sale of the underlying share, and to certain other rights including additional PDR or adjustments to the terms or upon the occurrence of certain events in respect of rights issues, capital reorganizations, offers and analogous events or the distribution of cash in the event of a cash dividend on the shares. PDRs are evidences or statements nor certificates of ownership of a foreign/foreign-based corporation. For as long as the PDRs arenot exercised, the shares underlying the PDRs are and will continue to be registered in the name of and owned by and all rights pertaining to the shares shall be exercised by the issuer.


Small-Demominated Treasury Bonds (SDT-Bonds) - The SDT Bonds are long-term and relatively risk-free debt securities issued by the Bureau of Treasury (BTr) of the Republic of the Philippines. The bond is a certificate of indebtedness of the Republic of the Philippines to the owner of the SDT-Bonds.


WHERE CAN I BUY OR SELL SHARES OF STOCKS AND/OR BONDS?


In the Philippines, the only operating stock exchange is the Philippine Stock Exchange (PSE). Its main function is to facilitate the buying and selling of stocks and other securities through its accredited trading participants.

The PSE has two trading floors - PSE Centre in Ortigas, Pasig City and PSE Plaza in Ayala, Makati City - where trading participants trade daily - from 9:30 a.m. to 12:10 p.m. except Saturdays, Sundays, legal holidays and days when the Central Bank Clearing Office is closed.


HOW ARE SHARES AND SDT-BONDS BOUGHT OR SOLD?


If you wish to buy shares of stocks or SDT-Bonds, you must have a stockbroker who will do this for you. A stockbroker is a person or a corporation authorized and licensed by the Securities and Exchange Commission (SEC) and PSE to trade securities.

Investing Procedures:

Choose a stockbroker. The PSE has a complete list and information about all its trading participants who are authorized and qualified to trade either equity or debt securities for you. This list is also available on the Exchange's website and the PLDT directory's Government and Business listings yellow pages under the category of stock and bond brokers.

You shall be required to open an account and fill-out a Reference Card and to submit identification papers for verification. The stockbroker will then assign a trader or agent to assist you in either buying or selling any listed security. Discuss with the trader what stocks to buy or sell.

Give the order to your broker/trader, and then get the acknowledgement receipt.

For equity transactions: Deliver the Stock Certificate if you are selling or pay within the settlement date (3 days from date of transaction) if you are buying. Some brokers may require you to pay with post-dated checks upon ordering.

For SDT-Bonds transactions: Selling investors must open a RoSS account under his broker's sub-account and instruct his bank-underwriter to transfer the share to this account. Buying investors must also open an account with a BTr accredited bank and pay the appropriate amount of transaction to the settlement bank on the trade date.

You shall receive from your broker either the proceeds of sale your stocks (after 3 days for equities and on the date of trade for SDT-Bonds) or proof of ownership of stocks you bought (confirmation receipt and invoice). If you wish to have a physical certificate of the equities you bought, just give instructions to your broker and pay the required upliftment fee. Buyers of SDT-Bonds will only be given a confirmation slip in lieu of the bond certificates.



You can purchase shares of stock either through IPO (Initial Public Offering) or through the open market. Shares sold through IPOs are offered for the first time to the public by the company (primary market) whereby proceeds of the sale go directly to the company. Shares of listed or publicly traded companies are bought during trading (open market). These shares have since been transferred from one owner to another (secondary market) and proceeds of the sales do not go directly to the company but to the owners of the shares.

The Trading Cycle



All equity transactions, whether buying or selling has a settlement period of T+3 (trading day + 3 working days). This means that a seller should be able to deliver the stock certificate, if any, to his broker and the buyer must have paid the cost of transaction to his broker within 3 working days after the trade was done. Historically, settlement was done manually (27-day cycle). With the advent of scripless trading wherein settlement is done via the book-entry-system (thru Philippine Central Depository or PCD), transactions are settled on the third day after trade date. Under this system, the investor has the option to hold on to his certificate (uplift) or deposit (lodge) this certificate in PCD through his broker-participant account.

SDT-Bonds transactions, however, are settled on the same day when the trade is transacted (T+0). There shall be no physical transfer of bond certificates. The transfer of securities shall be conducted electronically by the BTr's Registry of Scripless Securities (RoSS). On the other hand, cash settlement will be coursed through the PSE's two settlement banks namely, Equitable-PCI Bank and Rizal Commercial Banking Corporation.



WHAT IS THE MINIMUM AMOUNT NEEDED TO INVEST IN THE STOCK MARKET?


Equity trading is done by board lot or round lot system. The Board Lot Table determines the minimum number of shares one can purchase or sell at a specific price range. Therefore, the minimum amount needed to invest in the stock market varies and will depend on the market price of the security as well as its corresponding board lot. Prices of stocks move through a scale of minimum price fluctuations.

On the other hand, the minimum amount of SDT-Bonds that an investor can buy if PhP 5,000.00.


Board Lot Table:

PRICE MINIMUM FLUCTUATIONS BOARD LOT
0.001 to 0.0024 0.0002 1,000,000
0.0026 to 0.0050 0.0002 1,000,000
0.0055 to 0.0100 0.0005 1,000,000
0.0110 to 0.0250 0.001 100,000
0.0260 to 0.0500 0.001 100,000
0.0525 to 0.1000 0.0025 100,000
0.105 to 0.2500 0.005 10,000
0.2600 to 0.5000 0.01 10,000
0.5100 to 1.000 0.01 10,000
1.020 to 2.500 0.02 1,000
2.550 to 5.000 0.05 1,000 **
5.10 to 10.00 0.10 1,000 *
10.25 to 25.00 0.25 100
25.50 to 50.00 0.50 100
50.50 to 100.00 0.50 100
101.00 to 250.00 1.00 10
252.50 to 500.00 2.50 10
505.00 and up 5.00 10




The following securities fees and taxes (subject to change) are levied on the investors:


FEES/TAXES SELLER BUYER
a. Brokerage Commission (maximum of 1.5% of transaction cost + 10% VAT) X X
b. Philippine Central Depository (PCD) Fees
Ad valorem rate of 0.00009174 x value of transaction
Upliftment Fee of Php 55.00 / request
X

X

X
c. SCCP Fee of 0.000009174 x value of transaction X X
d. Transfer Fee of Php 100.00 + 10% VAT X
e. Cancellation Fee of Php 20.00 + 10% VAT X
f. Documentary stamps (Php 1.50 for every Php 200.00 par value of transferred stock) X
g. Stock Transaction Tax (½ of 1% value of transaction in lieu of capital gains tax) X




Illustration:

Buying Transaction:
Mr. X wishes to buy a stock whose market price is P10.00 and with a par value of P1.00. Based on the Board Lot Table, the minimum number of shares he can buy at a regular transaction is 1,000 shares (a). In this case, the amount that he needs is about P10,000.00 plus charges. His required cash outflow will be as follows:

Market price/share P 10.00
Minimum number of shares * x 1,000
P 10,000.00
Broker's Commission (1.5% + 10% VAT) + 165.00
Transfer Fee + 10% VAT + 110.00
PCD and SCCP Fees + 1.01
Documentary Stamp + 7.50
Total Cash Outlay P 10,283.51




Selling Transaction:
Mr. Y wishes to sell a stock whose market price is P5.00 and with a par value of P1.00. Based on the Board Lot Table, the minimum number of shares he can sell at a regular transaction is 1,000 (b). In this case, the proceeds of the sale is about P5,000.00 less charges. His cash inflow will be as follows:

Market price/share P 5.00
Minimum number of shares x 1,000
P 5,000.00
Broker’s Commission (1.5% + 10% VAT) - 82.50
Stock Transaction Tax - 25.00
PCD and SCCP Fees - 0.50
Cancellation Fee + 10% VAT - 22.00
Net Cash Receivable P 4,870.00





HOW CAN I PROFIT IN THE STOCK MARKET?


Investors can profit in the stock market thru any or a combination of the following;

Capital Gains - These are profits made due to an increase in the market price of a stock from the buying price.


Cash Dividend - A dividend given to shareholders in the form of cash. It is computed by multiplying the number of shares held by the cash dividend rate declared.


Stock Dividend - A dividend given to shareholders in the form of additional stocks. It is computed by multiplying the number of shares held by the percentage of the stock dividend declared.


Stock Rights - Stock rights offering is the option given to the present shareholders to buy additional shares of stock at a price lower than its market price.





IS THERE ANY RISK INVOLVED IN INVESTING?


Yes, since risk is always a part of any investment. And because stock investment is the most volatile, a better attitude would be to limit and manage your risk. A maximum level of gain or loss should be set and calculated decisions should be made when this level is reached.


DO I NEED TO KEEP TRACK OF MY INVESTMENT?


Yes! Having placed some amount in stocks, you should spend some time and effort in studying your investment. You should keep track of the stock price and follow closely the developments of the company. This way, you are able to foresee possible gains or losses that will guide you in making sound and wise investment decisions.

Daily quotations of stock prices can be obtained from your stockbroker or from all leading newspapers. You may also get information from our official website: www.pse.com.ph or from the PSE-Public Information and Assistance Center (PIAC) at telephone numbers 688-7602 to 03.

For anyone who wants to learn how an Online Stock Trading works, you can check out the Stock Trading Game Website below. It's a game that simulates the PSE.

Stock Trading Game (STG) is an ideal method to practice investment strategies, test theories, practice day trading, learn about the various markets, and compete with other players.

Joining the game is for free. Only fictitious money is involved so the player is not committing anything except his time.

Running in real-time prices of the PSE, the Trading Simulation Game is as close as it can get so one gets to see the latest trades, bids, and offers. Try it now!

Here is the Website: http://www.pse.ph/html/STG/index.html

IMO, if you are a novice investor, I would shy away from individual stocks. I would rather put my money on mutual funds. Picking stocks requires a lot of research and analysis which can be overwhelming even for an average investor. I wonder what is the state of the mutual fund market in the Philippines.

There are few equity funds in the Phil. but this is still much safer than investing in ind. companies per se. Look it up in the big board under funds.

yeh its makes me really think now....sea east asia cement holding shares did well for in in the phils stock market last yr...but nor im kinda shying away from pse....i just have this gut feeling its abit riskier this yr...yeh u guys are right...i requires alot of analysis and reserce and can be confusing for novice investors...i myself found it challenging...even ayala land shares doesnt look good to me...also i reckon ans cbn holdings share seem a bad investment...i also under estimated robinsons land corp shares...which prove me wrong...they double they're value...its just really shos that research helps...not everyone might wanna research though

Yup, the individual stock market is risky for a novice player. So instead of haphazardly investing in the field like being trapped in a lion's den, just try to be a Market Watcher at first. it is important to familiarize oneself with the business activities of the companies you're eyeing. you can start by checking the information from the company websites, reading the business section of the all the leading newspapers daily, access the research database of securities companies and market reports, and analyze all the information you gather to predict the trends, with respect to the micro/macro economics scenarios.

I'm playing the stock trading game right now, it's just a game and there's no need to shell cash or anything. In the game, i bought an xlot of SM share at the average price of 241/share now it's 248/share, (for the 1st two weeks, it was loosing at 240/share then jumped to 248/share). I bought 100 vol of PNB share at 30/share, now it's 34/share. I bought 1000 vol of ICT at 7.00/share and now it's 7.60/share. I only got the information as to which companies to buy into by reading the business section of all the newspapers every day. I know it's not enough but I could care less anyway because it's just a game. However, in a real time stock trading scenario where your investments are at risk, you really need to stalk and analyze all the valid market reports and activities with regards to those companies.

As for Mutual funds, I'm not familiar with the Philippine Mutual Funds/Equity market yet. I'm more familiar with the US Mutual funds due to 401K contribution..... Ok, I need to check my 401k portfolio now.

the Peso is simply just the most volatile currency in the world ... it changes dramatically ... oftenly affected by bad decision-making, corruption, etc ... it is really sad to note all of it ... before I came here in UK, the peso is trading 56-60 for a sterling pound .. five years after ... a UK pound is equivalent to 102 pesos .. even shoots up to 110+ before the election ... whether we can help the peso to stabilise or not .. we're all part of its instability ... I've never blamed the government at all ... it's all part of the system ... and each one of us contributed to make it worst .. so I don't believe in pointing finger to certain individual especially the President of the republic.

Isn't it stuck at P54 right now? It hasn't permanently stayed in P53 yet.

Didn't the peso go down as low a 60:1, or was I just having a nightmare?

Comparing prices adjusted for currencies then tells us a bit about purchasing power in the various countries. The cheapest Big Mac is in the Philippines ($1.23), the most expensive in Switzerland ($4.90). In other words, the Philippine peso is the world's most undervalued currency, the Swiss franc its most overvalued.
Source: http://www.skyscrapercity.com/showthread.php?t=118957

Does it mean that the true value of the peso should be somewhere near 50:1? Dang politics... always dragging the peso. :D

I agree with you that PhP really is undervalued currency. What's really causing this are the speculators [local and international traders] since Php only depend on market forces, hence its easy for them to attack PhP rather than Yuan and Ringgit. To add, unknowingly, OFW's also are speculating by holding back their remittances if the exchange rate is low.

In addition, during the asian crisis years, Php plunge due to low incoming USD flow, w/c normally pours into Stocks Exchange. The only incoming USD flow that keep RP's PhP afloat are the money being poured in by OFWs and local exporters.

However, there's another theory that this is a grand design of the Philippine Govt to keep the Php to hoover around 52 - 56 as it makes RP's more competitive interms of labor and overhead cost for investors. As RP is 2nd costliest interms of power generation in asia and this will hurt manufacturing, and a turnoff for a prospective investors, hence we've seen a plight of investments being poured elsewhere, however lowering PhP rate makes the labor cost lower. A break even in overhead expenses for investors.

However, by doing so lowers RP's purchasing power and slight price increase of basic commodities is inflationary. Hence, RP Govt dilema of choosing between 2 evil [higher dollar vs jobless people].

Because of these jueteng and tape brouhaha, the peso is back to almost 55.
kala ko pa naman aabot na sa 50. :bash:

Because of these jueteng and tape brouhaha, the peso is back to almost 55.
kala ko pa naman aabot na sa 50. :bash:

Not almost 55, already 55.20 on yesterday's close. Look at what this kind of politics has been doing to our economy.

The peso goes down again, it's 56.175

hmmm, this is sad. hope to recover asap.

uy Ngayon ko lang nakito tong thread.

First tatawa lang ako because kung peso dollar rate pinaguusapan eh :badnews: :badnews:

seriously...

Forex is only one indicator of country health.

This is a very long economic discussion , that's why i prefer to look at the UN human index, as it shows how we live rather than how much we earn after all it's only money after a certain degree.

In any case the single largest contributor to Philippine lack of confidence in the Peso is... tadada ... the filipino.

The filipino upper and middle classes tend to deposit the bulk if not all of their money in fcdu or most often the US$. There are very few huge 100 million peso accounts in the country and if there are the account owner probably also has a 100million $ account. In other words they put most of their cash NOT in pesos. as soon as the pinoy makes enough money to save on a substantial basis, naka dollar account na iyan. Kahit na walang problema dito.

Just ask yourself how citibank , with one branch in the county before liberalization was the 5th largest in the country!

So we really have nobody to blaim but ourselves.

OK alis na ko dito, nakaka depress, punta na lang ako sa NAIA 3 thread :bash:

GOOD NEWS for those "TICKER" fans.... :)

PSE Seals Pact with Globaltronics on the Display of Stock Quotes on Electronic Boards


The Philippine Stock Exchange (PSE) and Globaltronics, Incorporated, a distributor-operator of electronic programmable display and scoring system, on July 7 executed an agreement on the display of stock market information in key areas of Metro Manila.

Under the agreement, the PSE can display market information such as the PSE ticker tape containing stock quotes, advertisements and announcements, free of charge.

The stock market information will be displayed in Globaltronics’ video display systems along SM Megamall in Mandaluyong City, De La Salle Greenhills campus along Ortigas Avenue, San Juan and the entrances of Ayala Alabang Village in Muntinlupa City for a period of one year starting July 7.

The initiative forms part of PSE’s campaign to build awareness on the stock market to acclimatize and motivate existing and potential market participants through increased knowledge and understanding.

Photo shows: PSE President & CEO Francis Lim and Globaltronics General Manager Valentin Muñoz. Behind them is the prototype of the stock market information to be displayed on the electronic boards.

where in Megamall?? havent seen any of them yet... :?

I believe this is the big billboard outside on edsa, same as the others, these are big billboards

Guys, it's time to break your piggy banks now!:D
Circulate those coins!
DEMAND AND SUPPLY By Boo Chanco
The Philippine Star 08/12/2005

Those coins we call "barya" cost a pretty penny to mint. But the Bangko Sentral is obligated to spend quite a bit of money to produce enough of them to keep retail commerce humming. Still, it seems the BSP can’t produce enough of those coins. Market vendors and consumers are constantly denouncing the BSP for not having enough coins circulating to meet their needs.

BSP Governor Say Tetangco told me that as of June 30, 2005 there are over 10.5 billion pieces of coins in circulation in the country, consisting of seven denominations: one centavo, five centavos, 10 centavos, 25 centavos, one peso, five pesos and 10 pesos. Of this total, roughly 60 percent or 6.3 billion pieces "barya" or coins in denominations of 25 centavos, 10 centavos, five centavos and one centavo. Theoretically, there should be enough "barya" for "panukli." How come some retailers give us candy for change, if at all?

That’s because, the BSP Governor explained, people tend to keep or "imprison" coins inside their drawers, piggy banks, etc. as they find it inconvenient to keep those heavy coins in their pockets, wallets or bags. Come to think of it, I regularly empty my pocket of coins and put them in a coffee mug on the dresser at home. Or in my car’s ashtray.

Governor Tetangco himself confessed that he puts those coins in a box in his desk but he occasionally exchanges them at the BSP’s cash department for paper bills. Sometimes, he said, he gets as much as P800. So, I guess the Governor is not that guilty of imprisoning those coins, an act that is costing the BSP a lot of money. Producing those 6.3 billion pieces of "barya" in circulation today would cost P3.1 billion. But coins are supposed to last 25 years compared to paper money that lasts only from one to eight months.

People need to re-circulate those coins, the BSP Governor stressed. He said he will launch a Coin Redistribution Program next month dubbed ANG BARYA MAHALAGA to precisely drive home the message: Circulate those coins. Citizens will be encouraged to regularly exchange those coins for paper bills in any bank. If more people did this, the BSP won’t have to needlessly spend money to produce new coins.

But there are people who would say that the reason people don’t give their coins much thought is the centavo’s diminishing value. I remember a Central Bank campaign many years ago to "respect the centavo". Indeed, it costs a lot more than a centavo to produce those lightweight centavo coins. I asked the Governor why they even bother to produce it. Well, the BSP is mandated by law to produce those coins, even if people don’t think it’s worth anything. As for the small denominations, people just don’t bother with them until they need them.

If you are among those who think "barya" isn’t worth fussing about, Governor Tetangco recommends that you just donate your coins to various NGOs with coin cans in many retail outlets. Bantay Bata, for one, collects about P6 million a year and now those coins can connect our public schools to the Knowledge Channel too.

The BSP Governor also told me about Pondong Pinoy started by Archbishop Rosales. It was able to mobilize over P20 million in a year, over P15 million of which were in 25-centavo coins! The campaign really sought out donations in 25-centavo coins under the slogan "kahit maliit, kung maliit, ay patungong langit."

Well, the money BSP saves from not minting more coins could eventually go towards helping the country deal with its fiscal problem. The BSP is one of the biggest contributors of its profits from operations to the National Treasury. Any savings will, therefore, increase its profits and its ability to give a bigger dividend to the National Government.

It just involves a small effor
t on our part to circulate those coins!

speaking of coins.. did you know that 7/11 doesn't even accept 5 and 10 centavo coins! grrrrrrrrr :rant:

Guys, it's time to break your piggy banks now!:D
Circulate those coins!
DEMAND AND SUPPLY By Boo Chanco
The Philippine Star 08/12/2005

Those coins we call "barya" cost a pretty penny to mint. But the Bangko Sentral is obligated to spend quite a bit of money to produce enough of them to keep retail commerce humming. Still, it seems the BSP can’t produce enough of those coins. Market vendors and consumers are constantly denouncing the BSP for not having enough coins circulating to meet their needs.

BSP Governor Say Tetangco told me that as of June 30, 2005 there are over 10.5 billion pieces of coins in circulation in the country, consisting of seven denominations: one centavo, five centavos, 10 centavos, 25 centavos, one peso, five pesos and 10 pesos. Of this total, roughly 60 percent or 6.3 billion pieces "barya" or coins in denominations of 25 centavos, 10 centavos, five centavos and one centavo. Theoretically, there should be enough "barya" for "panukli." How come some retailers give us candy for change, if at all?

That’s because, the BSP Governor explained, people tend to keep or "imprison" coins inside their drawers, piggy banks, etc. as they find it inconvenient to keep those heavy coins in their pockets, wallets or bags. Come to think of it, I regularly empty my pocket of coins and put them in a coffee mug on the dresser at home. Or in my car’s ashtray.

Governor Tetangco himself confessed that he puts those coins in a box in his desk but he occasionally exchanges them at the BSP’s cash department for paper bills. Sometimes, he said, he gets as much as P800. So, I guess the Governor is not that guilty of imprisoning those coins, an act that is costing the BSP a lot of money. Producing those 6.3 billion pieces of "barya" in circulation today would cost P3.1 billion. But coins are supposed to last 25 years compared to paper money that lasts only from one to eight months.

People need to re-circulate those coins, the BSP Governor stressed. He said he will launch a Coin Redistribution Program next month dubbed ANG BARYA MAHALAGA to precisely drive home the message: Circulate those coins. Citizens will be encouraged to regularly exchange those coins for paper bills in any bank. If more people did this, the BSP won’t have to needlessly spend money to produce new coins.

But there are people who would say that the reason people don’t give their coins much thought is the centavo’s diminishing value. I remember a Central Bank campaign many years ago to "respect the centavo". Indeed, it costs a lot more than a centavo to produce those lightweight centavo coins. I asked the Governor why they even bother to produce it. Well, the BSP is mandated by law to produce those coins, even if people don’t think it’s worth anything. As for the small denominations, people just don’t bother with them until they need them.

If you are among those who think "barya" isn’t worth fussing about, Governor Tetangco recommends that you just donate your coins to various NGOs with coin cans in many retail outlets. Bantay Bata, for one, collects about P6 million a year and now those coins can connect our public schools to the Knowledge Channel too.

The BSP Governor also told me about Pondong Pinoy started by Archbishop Rosales. It was able to mobilize over P20 million in a year, over P15 million of which were in 25-centavo coins! The campaign really sought out donations in 25-centavo coins under the slogan "kahit maliit, kung maliit, ay patungong langit."

Well, the money BSP saves from not minting more coins could eventually go towards helping the country deal with its fiscal problem. The BSP is one of the biggest contributors of its profits from operations to the National Treasury. Any savings will, therefore, increase its profits and its ability to give a bigger dividend to the National Government.

It just involves a small effor
t on our part to circulate those coins!

^^ and why is that? if they're still legal tender i see no reason for them not to accept 5 and 10-centavo coins.

hmm..I always buy at 7/11 and I didn't know they aren't accepting 5 and 10 peso coins. I used to give 50 or 100 peso bills, eh. next time I'll try giving them coins and I'll see what will happen. :D

^^5 and 10-centavo coins :)

not 5 and 10 peso coins.. 5 cents and 10 cents.. i even called the store manager.. and he can't give me any explanations.. he just said that's company policy.. no 5 or 10 cents.. sabi ko.. bakit di ba pera yan?

Hey you should report these guys to the CB, try to document it , that sounds illegal.

^^ay, sorry. centavo coins pla. my bad. hindi nga cla nag-accept.

Hah..they will not accept those centavos.pera din yun noh. Ang dami ko pa naman 5 and 10 cents. I'm in Davao kaya, wlng 7/11 dito..buti nlng..:)

Oh, I didn´t know that your currency was the peso, many countries of latin America have the same.

Excuse my english.

it is very clear that 5 and 10 cents are still accepted.. but in my case, 1 have a lot of P5 bills (aguinaldo bills)...did Bangko Sentral mention the phasing out of these bills? sayang, i saved it pa...eh ngaun, souvenir nalang

I also have 5 and 10 centavos. maybe equivalent to 10 pesos already. :lol:

Do you have a Coinstar machine in Pinas? That's the machine where you can deposit all your loose change and it will give you bills in exchange with a small fee.

PSE may ease requirements to attract more listings
By Zinnia B. Dela Peña
The Philippine Star 09/12/2005

The Philippine Stock Exchange (PSE) is considering easing its listing requirements to encourage more companies to list on the bourse.

PSE president Francis Lim said the exchange, for one, is looking at liberalizing the listing rules for small and medium enterprises to help them obtain capital through the stock market.

Lim said the exchange may relax the track record and operating history requirements of its listing rules to accommodate more companies, particularly SMEs. To date, only three companies are listed on the SME board, namely SQL Wizard, Makati Finance Corp. and Cashrounds.

This move, he said, is in response to Trade and Industry Secretary Peter Favila’s request for the exchange to create an environment that will entice more companies to list.

Just last week, the PSE held a seminar for Board of Investments-registered companies to get them interested to list on the exchange. "I’ll do everything I can to push companies to offer their shares to the public so there will be more quality companies that will be listed. If we have a list of good companies then the market will grow by leaps and bounds," Lim said.

Lim said several companies, including Splash, Pascual Laboratories, Yazaki Torres, Unilab, and Dutch Philippines have signified their intention to list.

Lim said the exchange is bent on seeing the listing of power firms, telecommunications firms and BOI-registered entities on the exchange to boost trading activity.

Despite the mandatory listing requirement for energy or oil companies, they were able to delay their listing, citing poor market conditions.

The oil deregulation law requires oil firms to offer at least 10 percent of their outstanding shares to the public three years from the effectivity of the law or in February 2001.

Among the oil firms operating in the country, only Petron Corp. made its debut at the PSE with the listing of 20 percent of its outstanding capital stock in 1994.

Once dubbed as a get-rich-quick investment option, an IPO is a means of raising funds for expansion and capital, employed by companies as a cheaper alternative to the more expensive debt instruments such as bonds and bank loans.

An IPO is done by selling a portion of the company’s shares of stock at a price based on its book value or on its projected earnings for the year. These shares are then listed with the PSE so that stockholders and investors may trade the issue. Of the 237 firms listed in the exchange, only 100 are actively traded.

Blue chips’ profits boost stock
market; PLDT, Ayala lead pack

By Cai U. Ordinario, Researcher

HIGH profits posted by blue-chip companies, led by Philippine Long Distance Corp. and Ayala Corp., boosted stock-market earnings in the first half.

The Philippine Stock Exchange posted P73.84 billion in the first half of the year, or 27.3 percent higher than the P57.99 billion they posted in 2004.

The 30 companies comprising the PSE Composite Index (Phisix) reported a total net income of P54.72 billion, representing 74.1 percent of the total net profit of all listed firms. The amount was 18.3 percent higher than the P46.24 billion they earned during the corresponding period last year.

Of the firms in the Phisix, 27 enjoyed net earnings, amounting to P56.17 billion while 11 reported a decline in earnings. Of the 27 companies, 19 firms turned in bigger incomes.

But firms Lepanto Consolidated Mining Co., Ionics Inc. and Digital Telecommunications Philippines. Inc. (Digitel) didn’t do well, incurring P1.45 billion in combined losses during the period.

Lepanto, whose first-semester performance yielded a consolidated net loss of P0.18 billion, blamed lower gold production and settlement of gold hedging losses. Ionics, meanwhile, increased losses to P0.19 billion, from P0.13 billion on lower sales, blamed on changes in business relationships with its two major customers.

The Gokongwei-family owned Digitel was not able to trim down its previous losses on higher operating/general expenses, depreciation and amortization, and interest on bonds issued by its foreign subsidiary. Still, Digitel posted higher net revenues during the period, supported by its emerging wireless business segment Sun Cellular.

PSE president Francis Lim attributed the double-digit rise in the exchange’s profit to the passage of the expanded value-added tax law; improvements in government’s fiscal program; a higher-than expected economic growth figure in the first quarter; a manageable inflation rate; and “accommodative” monetary policy.

PLDT topped the list of profitable public companies as its first-half income grew by 35.1 percent to P16.82 billion, from P12.45 billion a year ago. Reduced expenses, particularly in financing cost, coupled with increased revenues, especially from its mobile-phone service, propelled PLDT’s profitability.

Ayala Corp. came in second with an income of P4.60 billion, which was 54.5 percent higher than the P2.98 billion it posted during the same period last year. Ayala’s earnings came from its strong equity in net earnings of associates, interest, rental and other investment income.

Piltel occupied the third spot in this period’s roster of most profitable companies as its first half net income grew by almost sevenfold to P4.56 billion, from P0.66 billion a year ago. Piltel’s revenues increased by 32.6 percent to P5.69 billion, from P4.29 billion, due to the growth in its prepaid cellular service, Talk ‘N Text subscribers, the advantageous change in its revenue-sharing arrangement with PLDT-owned Smart Communications Inc. and the revaluation of foreign-exchange gain.

Holding companies DMCI and Metro Pacific Corp. garnered the highest growth rates of 1,346.1 percent and 1,153.7 percent, respectively.

The commercial and industrial sector grabbed the biggest share of the profit, corresponding to P51.79 billion of the total net income of the listed firms.

The banking and financial services sector came in second as the sector’s combined income grew 26.5 percent to P15.21 billion of the total income.

Market seen to consolidate

Astro del Castillo of First Grade Holdings doesn’t bat for VAT, saying the market’s daily value rise for the week to September 16 is due to this law.

The composite index gained 27.03 points or 1.43 percent to 1,909.80 points.

“The market will just consolidate near the 1,900 level,” del Castillo said.

“It can even go down due to concerns about the expanded VAT and the possibility of a rate increase,” he added.

Share prices are expected to trade around current levels in the coming week, with investors uncertain after a sustained period of political tension and concerns of a possible hike in interest rates, del Castillo and other dealers said Friday.

They said the immediate crisis, sparked by opposition calls for President Arroyo to step down, may have passed, but many loose ends remain unresolved, among them implementation of the EVAT law.

Average daily volume fell to 540 million shares but average daily value rose to P1 billion (US$17.8 million) from 674 million shares worth P852 million a week earlier.

PSE seeks inclusion of capital market, investment subjects in college curricula
By Zinnia B. Dela Peña
The Philippine Star 10/11/2005

The Philippine Stock Exchange (PSE) is pushing for the inclusion of capital market, securities and investments in the business curricula of colleges and universities in the country to promote awareness on the stock market.

PSE president and chief executive officer Francis Lim said this move would improve not only the competency of prospective capital market practitioners but also increase investment awareness and develop an investment-conscious culture among Filipinos, and in the process, contribute to the country’s economic development.

Lim noted that less than one percent of the Philippine population actively invests in the stock market.

"There is strong perception that the stock market is only for the chosen few and that only ‘big’ investors can gain from investing in the market. There is therefore a pressing and imperative need to dispel this notion, assist in improving the stock market’s image as well as promote investing in the market through an intensive education program," Lim said.

"We believe that in order to lure our young generation to get into the capital market and cultivate them as skilled, competent and responsible market practitioners, we should immerse students deeper into the subject by making it a stand-alone subject in the college curricula," he added.

Capital Market Institute of the Philippines president Reynaldo Nograles, for his part, said the proposed policy is not unlike the present policy of making accounting, business law and other general education subjects mandatory in these business curricula.

"In terms of benefits, there is even more reason to make capital market a compulsory subject in business curricula because its ultimate objective is not only to improve the level of competency of the students in the subject, but also to contribute to economic development and business activity of the country," Nograles said.

In his proposed course syllabus, Nograles describes the course as dealing with the concepts, principles and practices in capital market and investments under the Philippine setting. Topics include the Philippine financial and securities market, industry analysis, fundamental analysis, technical analysis, fixed income securities, portfolio management, laws and regulations affecting investments, securities and corporate governance.

"Most of our population’s lack of awareness in the capital market’s role in the country’s business development is perhaps one of the reasons the development of the Philippine capital market over the past years has been sluggish despite assurances from the country’s economic managers and acknowledgments from foreign investors of the country’s established economic fundamentals," Nograles said.

^^ Very good initiative. It's important to make Filipinos (not just young Filipinos) be more cognizant of concepts in stocks and securities, and other investment vehicles. It is also important for them to know about market risks and the tax incidents of these investment vehicles.

IMO, if you are a novice investor, I would shy away from individual stocks. I would rather put my money on mutual funds. Picking stocks requires a lot of research and analysis which can be overwhelming even for an average investor. I wonder what is the state of the mutual fund market in the Philippines.

even mutuals can be risky. choose funds carefully, if i have the fonds, i'd go for balanced portfolio.

maganda maging part ng mga pioneers sa phil stock trading, para pag nag-boom, sikat ka!! IMO, PSE is so undervalued!! :)

even mutuals can be risky. choose funds carefully, if i have the fonds, i'd go for balanced portfolio.

Yes, mutual funds can be risky too, after all it's a collection of individual stocks but picked by professionals. However, the risk is minimized because it is spread among several stocks - you're not putting all your eggs in one basket. But picking the right mutual fund can be daunting sometimes. I think for a new investor, the best way to go are index funds, i.e. in the states, S & P 500 funds, Total Market funds, etc. There are fewer mutual funds that beat these funds than those that underperform it.

Here's a good source of info for investing. For those in the states, Bob Brinker has a radio talk show (Money Talk) every weekend. You will find the stations at his web site:

http://www.bobbrinker.com/

ang boring talga basahin tungkol sa stocks, maysusugal na lang ako sa vegas. sulit sulit pa, libre pa yung buffet

Yes, mutual funds can be risky too, after all it's a collection of individual stocks but picked by professionals. However, the risk is minimized because it is spread among several stocks - you're not putting all your eggs in one basket. But picking the right mutual fund can be daunting sometimes. I think for a new investor, the best way to go are index funds, i.e. in the states, S & P 500 funds, Total Market funds, etc. There are fewer mutual funds that beat these funds than those that underperform it.

Here's a good source of info for investing. For those in the states, Bob Brinker has a radio talk show (Money Talk) every weekend. You will find the stations at his web site:

http://www.bobbrinker.com/

good site, hope to read more.

san maganda sa local bumili? 2trade, bpitrade or rcbctrade? i think im choosing bpi, pero i stil need last min advises :)

Open an account with 2trade Asia. ALI is a pretty good buy it's cheap . I bought when it was 4.7 now its almost doubled to 9 p. Price volatility has some advantages, just have patience and you'll make money.

^^ oh thanks marites, my top 5 choices actually are pldt, ali, petron, globe & one mining stock :D eto kase ung mga inadvice saken :)

there are 2 philippine stocks that are traded here in NYSE and Nasdaq OTC that i have been following for 2 years now --- SMGBY and PHI --- San Miguel and Philippine Long Distance both did well, San Miguel up by over 50% in 2 years and Philippine Long Distance up by over 100% in 2 years.

i perceive investing in a stock a life gamble except in a longer effect, and i dont invest anything that i know would jeopardize my future. can u guys clear me off with this concept

That's true. Investing in stocks is quite risky, especially if you are not that familiar with reading the stock portfolio and market trends. Invest in stocks only if you have extra money that you are willing to invest in speculative markets. I'd rather go for CD's (or time deposits with high yields) where the principal is FDIC or PDIC insured. If you want to invest in the stock market, here in the US, I'd rather go for mutual funds using the S & P index for blue chip companies. It may not be as aggressive but I'd rather diversify than put all my eggs in one basket. I haven't invested yet in Philippine stocks because I'm not sure. The market is so volatile. Real property is better but not so liquid.

For you @tigs, aside from CDs for shorter-term saving, you can also open an Investment Retirement Account (IRA) or Tax Deferred Annuity (TDA) account because the benefit is threefold: savings, retirement investment and tax shelter. You will also benefit from compounding so that the earlier you invest, the greater the returns later on. However, you may not be able to touch these without incurring deductions or surcharges until you are 59 1/2 years old.

I'm not sure if you are a full-time student or you are employed. If you are employed and your company provides for a 401K, make sure that you take advantage of it since the employer has a matching contribution to your account.

^im self employed now hehehe but i had TSP before, parang 401k din. is there a possibility that i can transfer it to IRA w/out resulting of paying a large taxes on it thats Y, im not touching that money yet still able to use it when i buy a house or pay my federal loan.

there are 2 philippine stocks that are traded here in NYSE and Nasdaq OTC that i have been following for 2 years now --- SMGBY and PHI --- San Miguel and Philippine Long Distance both did well, San Miguel up by over 50% in 2 years and Philippine Long Distance up by over 100% in 2 years.

pldt for the record is the most active here & the most profitable as well. & i guess it will stay so as long as MP is the ceo. :)

^im self employed now hehehe but i had TSP before, parang 401k din. is there a possibility that i can transfer it to IRA w/out resulting of paying a large taxes on it thats Y, im not touching that money yet still able to use it when i buy a house or pay my federal loan.

I'm not that familiar with TSP. Were you part of the uniformed service or federal government? I imagine that if you roll over all of the funds to a qualified traditional IRA account, you will not be taxed until you actually withdraw the funds from the IRA account. But don't rely on my advice as I am not a financial adviser or tax expert. You have to ask the benefits officer or the administrator of your TSP account.

:applause: i was, good guess. why? theyre different from 401k. as far as i know before i contributed w/TSP 4 yers ago, they said that its similar to 401k. thanks for the help tho

It is similar in a way that it is a defined contribution for a retirement savings plan but only available for federal employees and members of the uniformed service. That's how I guessed.

I don't know if it pays to keep the funds in the TSP account since I don't know the return rate of your investment. I don't also know if it has vested as of this time. If the IRA rates are better or if you later on become hired by an employer with a good 401K plan, you can inquire if you can roll-over those funds to these new accounts so that the interest rates are higher. Until you withdraw some or all of it, I don't think you will be taxed on it.

pldt for the record is the most active here & the most profitable as well. & i guess it will stay so as long as MP is the ceo. :)

do you think it is still a buy at this time :)

*bump* the peso today just reached 55.41 to a dollar.. :)

when i left 5 years ago, us dollar against the peso was 53 (or was it 50) i think, and the canadian dollar was 29. now, the its 56 for the us dollar but 46.6 (it was 47.5 nearly 2 weeks ago) for the canadian.

comparatively, against the us dollar it's much stable than with the canadian dollar.

Do you have a Coinstar machine in Pinas? That's the machine where you can deposit all your loose change and it will give you bills in exchange with a small fee.

Well we have our Sari-Sari stores already in-place. LOL :)

^^ LOL :lol:

WAtch, when it goew back to 54 the antiadmin. folks will bring forth another scandal.

ei guys, check this out.. taken from philstar.com.. hope that this continues.. :)

Philippine peso … the strongest currency in Asia
PHILEQUITY CORNER By Ignacio B. Gimenez
The Philippine Star 10/24/2005

Despite all the political noise and the attacks against President Arroyo, the peso remains one of the strongest currencies in Asia and the world. The peso rallied strongly against the US dollar last week to close at 55.43 — making it the best performing currency in Asia year-to-date (with the exception of the renminbi whose peg to the dollar was removed last July). The major reasons for the peso strength are the following:

1) Supreme Court’s final decision to uphold the EVAT,

2) The strong capital accounts surplus,

3) The announcement by the Department of Finance of a balanced budget by 2008,

4) BSP increasing overnight rates, which is in tandem with the Fed rate increases.

Note that most major currencies like the euro and the yen are down more than 11 percent against the US dollar.

The rate hike last Thursday supported the strengthening of the peso and quelled threats of possible portfolio outflows due to the narrowing interest rate spread with US treasuries. This is also a preemptive move on the part of the BSP in response to higher global inflationary expectations (due to high oil prices) and price pressures that may arise from the implementation of EVAT.

Although the timing of the recent rate increase came as a surprise to most, we believe that it is appropriate given the US Fed’s stance of monetary tightening. Other countries such as Thailand, Indonesia, South Korea and Canada have made similar moves in a bid to keep inflation on target and their currencies stable.

Even European Central Bank (ECB) chief economist Otmar Issing recently commented that central banks have to be "extremely vigilant" against inflation sparked speculation. This is a clear signal that the ECB may soon raise its policy rates which have been kept steady at two percent for over two years now.

In our view, the objective of a tamer inflation and a more stable peso will more than compensate businesses for the effects of the modest increase in interest rates. Besides, the BSP has been very accommodative in their monetary policy. Real interest rates (interest rates adjusted for inflation) have been hovering in negative territory for more than a year now.

The strong balance of payments and capital accounts is another major reason for the peso appreciation. The countries balance of payments position amounted to $2.73 billion for the first nine months of 2005 compared to a deficit of $176 million a year earlier.

Remittances from our OFWs are up 28 percent to $7 billion in the period January to August. In August alone, remittances reached $954 million — the highest ever recorded for a single month.

Meanwhile, portfolio inflows in equities and bonds have supported the turnaround of the capital accounts. Net portfolio investments surged to $2.02 billion for January to September 2005 compared to $191.7 million last year. This is clearly a stamp of approval on the country’s fiscal reforms. Without the reforms, the exchange rate could have gone beyond P58/$1 by now solely on the strength of the US dollar against the global currency basket.

The strongest inflows came in during the first four months of the year with March posting the biggest with $562 million. However, the delay of the passage of the EVAT and afterwards the delay in its implementation have shrunk net portfolio investments in subsequent months. In June, only $31.6 million flowed in due to the TRO on VAT. We expect this to pick up again once the EVAT is implemented in November and reinvigorates the country’s fiscal reform program.

Talking about fiscal reforms, the Department of Finance is doing a good job in its bid to balance the budget by 2008. For the period of January to September 2005, the budget deficit amounted to P108.5 billion, down 24 percent year-on-year and well ahead target. Revenue collections improved by 14 percent while expenditures remained prudent with only a 6 percent for the same period.

Another important measure worth noting is the primary fiscal surplus (computed by removing interest payments from the fiscal balance). This measures the ability of the government to pay off the principal of its loans. The January to September primary surplus stood at P126.8 billion, up 122 percent year-on-year and well ahead of government’s target of P96.7 billion.

Note that the benefits from the EVAT have yet to kick in. Meanwhile, the increase in excise taxes (on cigarettes and liquor) which took effect in January 2005 has not yet been fully captured since most manufacturers have front-loaded their inventories during the prior year.

There is also overall improvement in the consolidated public sector deficit which declined by 55.8 percent to P41.6 billion in 1H05. This is attributed to the P1/kwh Napocor increase and the 121 percent increase in surplus of the state-owned pension funds. With the expected implementation of the EVAT in November, we expect this improving trend in the CPSD to continue in 2H05 and into 2006.

We would like to thank the Supreme Court for its enlightened decision in upholding the EVAT law. As we have always said, we are one with the investment community, the credit rating agencies and multilaterals such as the World Bank and IMF in supporting immediate and full implementation of EVAT.
Oil Prices Have Dropped
The price of oil dropped below $60/barrel level last week. The peso appreciated also last week. The drop in the price of oil and the improvement in the peso should mitigate any inflationary effects of the EVAT. These developments all the more reinforces the stand of Finance government that the EVAT should be implemented soon.

The government continues to get criticisms from different sectors. However, the peso remains strong, Philippine bonds are resilient and the capital accounts positive. Either the government is doing right or the fund managers are wrong. But fund managers are usually astute investors and have the talent of looking at the overall picture. Perhaps, the Filipino or the common "tao" and many in the media are looking at the trees and not the forest.

Many Filipinos tend to undermine themselves or sell their own country short. As it is, the investment community is looking positively at the Philippines, and they are encouraged by our economic numbers.

It is clear that we are on the path towards fiscal recovery. While a balanced budget is a long way to go, what’s important is that we have turned around and the trend towards improving our fiscal position continues. As for investors, they should be looking at investing in Philippine assets (the peso, ROPs, equities) now that we are on the path towards a balanced budget by 2008… not when everything is rosy by 2009. Despite all the negativism, we are bullish on Philippine assets in the long term.

i would agree with that. canadian dollar has seen extremes for the past 2 years. sometimes it would shed off 2 cents a day (90 centavos). it's rise was equal with oil and energy. my fear is, once oil falls, whatever gain cdn had will also be wiped out.

FX Asia: Some See Value In Philippine Peso Vs Korea Won
By Ron Harui A Dow Jones Newswires Column Monday October 24

SINGAPORE (Dow Jones) -- With a resurgent U.S. dollar keeping interest in Asian currencies subdued, some foreign exchange strategists see better value in taking positions between regional currencies.

The South Korean won, for one, has been losing strength since the first half of this year despite an improving economy, and not surprisingly, several banks have recommended going short the currency.

While it has more room to fall versus the U.S. dollar, the won may post more spectacular declines against its Philippine counterpart, which is expected to extend its four-month winning streak into the year end, said Singapore's DBS Bank.

In recommending this relative value currency play, DBS is targeting the peso to head toward 20.00 in the short term. At 0715 GMT, the PHP/KRW cross was at 19.11.

The peso is looking more bullish after the U.S. dollar broke below its four-month-long range of PHP55.60-PHP56.40 last week. The dollar now looks set to fall further toward the psychologically important PHP55.00 support level in the short term.

At 0715 GMT, the dollar was at PHP55.375.

But that's not all that's buoying the outlook for the peso.

Remittances from overseas Philippine workers are due to start soon in time for the Christmas season, and indications are that the amount of money sent home this year could be a record.

"With inflows into the Christmas quarter strong in the last two years, this year will be no exception," said DBS Bank's senior market strategist Philip Wee, noting the Philippine government's forecast for overseas workers' remittance inflows to rise to an all-time high of US$9.4 billion this year from US$8.55 billion last year.

Won Has Third Worst Performance In Past Month.

In the first eight months of 2005, remittances from Filipinos working abroad reached US$7 billion, up 28% from the same period a year ago, estimates DBS Bank, adding this suggests overseas workers' remittances could actually rise above US$10 billion this year.

Meanwhile, the Philippine central bank is viewed as increasingly hawkish after it tightened policy last week to fend off inflationary pressures, and Governor Amando Tetangco didn't rule out further interest rate hikes before the year is out.

Last week's 25-basis-point hike marks the first time the Philippines has acted ahead of the U.S. Federal Reserve, with the move widening the differential between Philippine and U.S. interest rates for the first time in years. The central bank's overnight borrowing rate is now 7.50% and the overnight lending is 9.75%, versus the Fed's 3.75% funds rate target.

The Fed is widely expected to lift rates by another 25 basis points at its meeting on Nov. 1, which may prompt the Bangko Sentral ng Pilipinas to boost domestic interest rates again to maintain the wide differential between Philippine and U.S. interest rates in favor of the peso, analysts said.

The Korean won, meanwhile, has been one of the worst performing currencies against the U.S. dollar over the last one month and is likely to retain this status in coming sessions, analysts said.

In the past month, the won has depreciated 2.2% versus the U.S. dollar, after the Indian rupee's 3.1% slide and the Japanese yen's 3.2% plunge, DBS Bank said.

But, compared to September 2003 when the Group of Seven leading industrialized nations began to put pressure on Asian currencies to rise, the won is still the top performer with 11.4% gains versus 0.8% to 3.3% gains in the yen, the Taiwan dollar, the Singapore dollar, the Chinese yuan and the Indian rupee, DBS added.

"At the minimum, this suggests that USD/KRW has scope to trade higher to 1080," Wee said.

It's bout darn time our currency starts to go back to normal. In my opinion the 56P to a dollar rate was very very superficial. That rate was ridiculous and was caused entirely by political instability. The peso should be put at 53-54 appropriately.

if we never had the political brouhaha it shud hav been at par or better than thailand. around 40. So when people say we are responsible for our own mess and not politicians. I disagree , I say they have are a major contributor to the mess.

^yeah, i cant beleive that pesos is wining, WOW, even behind these retarded coup rallies happening left and right, side by side. i hope, i didnt jinx it. :lol:

Peso stronger at 55.26:$, stocks up

The peso strengthened against the US dollar Tuesday, ending at 55.26 from Monday's close of 55.46.

The currency opened 55.46 and the dollar was traded between P55.25 and P55.46. Some $481 million worth of trades changed hands.

The peso rose to its highest level since June 10, 2005 as Asian currencies advanced modestly Tuesday after the yen's slight recovery from nearly two-year lows and a rise in yuan premiums.

Share prices, meanwhile, rose 0.5226 percent on bargain-hunting as the market neared its oversold levels.

The Philippine Stock Exchange index added 10.02 points to close at 1,927.49.

All sectorial indicators advanced except for the small and medium enterprise index, which was flat. Gainers outnumbered losers, 44 to 14, while 40 issues were unchanged. Volume was pegged at P657.09 million.

Traders said investors were positioning in select companies that are set to release third quarter financial reports.

They added that the peso's gain against the dollar and the advance of blue chip Philippine Long Distance Telephone Co.'s American Depositary Receipts in New York also encouraged investors to enter the market.

Top-traded PLDT rose P10 to 1,655. The telecoms giant will replace 4.6 million preferred shares with 7.9 million common shares under a mandatory share conversion program. It said the conversion will result in an earnings per common share dilution of less than one percent.

With the share conversion, PLDT's annual preferred share dividend payments will fall to P500 million from the current P1.5 billion, but analysts assured the conversion will not change the valuation of PLDT.

Globe Telecom ended flat at P705. Globe is seeking a license to use radio frequencies from the National Telecommunications Commission so it can upgrade its facilities to include third generation cellular services.

Ayala Land advanced P0.20 to P8.60, while parent Ayala Corp. ended unchanged at P285. Bank of the Philippine Islands was up P0.50 to P50.50 and Manila Water Services ended flat at P6.30.

SM Prime Holdings retreated P0.10 to P7.30 while parent SM Investments was unchanged at P220.

Philex Mining B rose P0.08 to P1.24 a share.

Semirara Mining closed higher by P1.50 to P27 per share.

Peso has further room to rebound

Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. said the peso, now trading at four-month highs against the US dollar, is likely to strengthen further on the back of increased dollar remittances from Filipinos working overseas.

He said the Philippines’ strong foreign exchange reserves, now at record-high levels, coupled with the upcoming implementation of the new value-added tax law, have also supported the peso’s rally.

Before the midday break, the peso hit a high of P55.01 to the dollar after closing at P55.26 yesterday, its best finish since June 10.

Tetangco is not ruling out the peso going back to the P54 per dollar levels.

"It’s possible," he told reporters after a briefing organized by the Foreign Correspondents Association of the Philippines.

The peso hit an intraday high of P53.83 to the dollar on March 17, its strongest level so far this year.

"The sustained increase in remittances in the fourth quarter will support the value of the peso," Tetangco said during the briefing. "We think the peso can strengthen further."

The Bangko Sentral expects remittances from Filipino workers abroad to top $10 billion this year. At end-August, it stood at $7 billion.

Tetangco also said that oil-driven inflation was threatening economic growth, adding that excess liquidity and a broader sales tax would put more pressure on consumer prices.

A narrowing differential between US and Philippine interest rates, with the Federal Reserve expected to continue raising its benchmark federal funds rate, remained a concern for Philippine monetary policy, he said.

"Inflation is a real threat to overall economic performance," Tetangco told a forum with foreign journalists based in Manila.

"Any sign that the monetary authorities have stopped preserving the inflation targets because the process appears to be driven by supply factors could be enough for secondround effects to take root."

Tetangco said the central bank was still assessing the impact on inflation of its quarter percentage point hike in overnight interest rates last week, but analysts have said there was scope for another rise before the year ends.

Last week’s rate increase — the third this year — was seen by markets as a pre-emptive stance against rising inflation risks from high oil prices.

"Monetary policy is not expected to be potent against high oil prices but it is expected to address any potential second-round effects," Tetangco said.

Tetangco said foreign direct investments are expected to rise to $900 million this year from $499 million at end-July and further to $1.2 billion in 2006 as investors look past prevailing political concerns.

A Supreme Court ruling in December 2004 that allowed foreign investments in the Philippine mining sector was instrumental in attracting fresh funds into the country, Tetangco said.

"Capital flows had been positive and combined with the phenomenal increase in overseas Filipino workers’ remittances, they have supported the local currency and helped smoothen volatility in the forex market," Tetangco said.

The country’s gross international reserves are at an all-time high of $18.589 billion at end-September, while its balance of payments (BoP) was in surplus by $439 million.

Tetangco said foreign investors were not too worried about the volatile political situation amid almost daily protest rallies calling for the ouster of President Gloria Arroyo, who has been accused of vote-rigging and corruption, allegations which she has denied.

"If you look at what is happening on the economic side, the picture is quite favorable. We see investments continuing to flow in," he said.

Philippine central bank says peso to continue rising
By Roel Landingin Manila October 26 2005 12:23

The Philippine central bank said the peso, which reached fresh four-month highs on Wednesday, would continue to rise against the US dollar until the end of the year, promising to help curb the rapid growth in government debt and keep inflation under control.

The local currency closed at at 55.074 pesos to the US dollar, its highest since June 10. The currency has gained 1.3 per cent since last week when the supreme court lifted the freeze on expanded value added taxes, a keystone in President Gloria Macapagal Arroyo’s fiscal programme, and the central bank raised policy rates by 25 basis points for the third time this year.

“The sustained increase in remittances in the fourth quarter will support the value of the peso. We think the peso can strengthen further,” Amando Tetangco, governor of the central bank told reporters.

He said money sent home by Filipinos working in the US, Europe and other countries could reach a record $10bn this year, up 17 per cent from last year’s $8.5bn.

He said it was possible for the peso to reach 54 pesos against the dollar, the level at which at the currency was hovering before a string of corruption and electoral fraud allegations hit Mrs Macapagal in early June, causing the peso to slide to record lows.

Officials and analysts said a stronger currency would help Manila tame the rise in government debt, about half of which is made up of foreign currency loans. The peso’s plunge after the Asian financial crisis of 1997 and 1998 contributed about a fifth to the swelling of government debt, which reached almost 80 per cent of GDP last year from only 60 per cent in 1999.

Gisela Lopez, a fiscal planner at the budget department, said the government saved a little over 3bn pesos on its interest and principal debt payments annually for every one peso rise in the local currency against the US dollar, reducing the pressure for higher borrowings.

The peso’s rise will also help keep inflation, which surged to 7.9 per cent in January-September 2005 period from 5.2 per cent last year, from rising out of control, said Luz Lorenzo, an economist at ATR Kim Eng, a stock brokerage.

i would agree with this. with 5 years being gone, it's pretty stable compared with other currencies.

One of the reasons why the peso is gaining so much is because the central bank has raised interest rates for the second time in two weeks (i think.) i guess it's just a market reaction :)

wow this is like watching a suspense-thriller movie... you really don't know what's gonna happen...

I guess the peso would rise on Nov.1 (EVAT implementation)

---

It just breached 54 level. and Meryll Lynch has just upgraded their outlook. Plus EVat implementation and expected OFW remittances expect more room for appreciation. THis is good news for GMA even with all her foes destabilizing tactics things are looking up. Filipinos are just so impatient when it comes to seeing results. They're always thinking shortterm so the opposition capitalizes on this.

its 54.8 something.. climbing up after all those rallies.. hehe.... gotta change my dollars..

"Perhaps, the Filipino or the common "tao" and many in the media are looking at the trees and not the forest.

Many Filipinos tend to undermine themselves or sell their own country short. As it is, the investment community is looking positively at the Philippines, and they are encouraged by our economic numbers."

TRUE, THE LACK OF CONFIDENCE OF FILIPINOS TOWARDS THEIR OWN :)

The PESO closed at P54.72 against the dollar

"Perhaps, the Filipino or the common "tao" and many in the media are looking at the trees and not the forest.

Many Filipinos tend to undermine themselves or sell their own country short. As it is, the investment community is looking positively at the Philippines, and they are encouraged by our economic numbers."

TRUE, THE LACK OF CONFIDENCE OF FILIPINOS TOWARDS THEIR OWN :)
Actually the opposition wants to burn the forest.

The PESO closed at P54.72 against the dollar

The Peso Strength in the last few days is truly astounding!

The thing is that the monumental inflow of Dollars and other foreign currencies to the Philippines has not yet ended kasi nga Filipinos abroad are remitting money like crazy in anticipation of the festive Christmas season.

Plus, this is also the time of the Great Balikbayan Trek back to the Motherland and so we all know what that means...more dollars, more money in the system.

So a further strengthening may be expected.

yeah this is good considering all other SE asian currencies are depriciating againts the dollar, the peso has bucked the trend.

it's been said by some experts that our currency is very much undervalued (really undervalued). good thing that the market forces and the fiscal policies are now working.

The Peso Strength in the last few days is truly astounding!

The thing is that the monumental inflow of Dollars and other foreign currencies to the Philippines has not yet ended kasi nga Filipinos abroad are remitting money like crazy in anticipation of the festive Christmas season.

Plus, this is also the time of the Great Balikbayan Trek back to the Motherland and so we all know what that means...more dollars, more money in the system.

So a further strengthening may be expected.

It should strengthen further as Christmas nears...given nothing bad happens.

^If the rallies stopped and we achieve stability the next four years I would say 40 pesos to a dollar. hey i can dream can't i

^If the rallies stopped and we achieve stability the next four years I would say 40 pesos to a dollar. hey i can dream can't i

it's definitely possible. Remember our peso reaching 53 against the dollar? yeah sayang lang dahil patuloy na ang paglakas ng pera natin, at salaman sa mga walang kwentang rally na yan, bumaba ulit at tumama ulit sa 56 pero ngayon oks na hehehhee

^If the rallies stopped and we achieve stability the next four years I would say 40 pesos to a dollar. hey i can dream can't i

yesterday's close: Php 54.72= USD 1

yesterday's close: Php 54.72= USD 1

aww i can still remember the days when the Dollar was only 26 pesos. the stock market was booming with more than 1 trillion pesos changing hands, now we are happy with a billion pesos. we were then the center of attention in asian business headlines.

the peso is so small that you can use it as a tingga for sipa. that generalize this thread question. okay

are we expecting more high-rises office buildings in the next few years?

^skycity

^^^
is that confirmed?


bttt, i think the peso has reached P53=$1 in last few months before....

yup, before the concocted scandal. We are our own worst enemey.

^^^
is that confirmed?

uh-huh

^^^

really? any updates about that?

really? any updates about that?
Property developer E. Ganzon mulling listing
Source: BusinessWorld
Date : 10/21/2005 11:32 AM
Author : Jennee Grace U. Rubrico

Property developer E. Ganzon, Inc. is considering listing at the Philippine Stock Exchange once it resumes construction of its skyscraper project.

In an interview, President Eulalio Ganzon said the proceeds from the offering will be used to fund the construction of the 77-storey Skycity project. "That [initial public offering, IPO] is still the ultimate intention, once we prove that we have a sustaining regular income," he said.

The company earlier estimated the Skycity project will cost P5 billion to build. However, with the spiraling cost of construction, officials said, it could hit up to P7 billion.

The project will be a mixed-use development, with office space taking up 13 levels, the residential component taking up 15 floors, and a hotel taking up 27 floors.

The residential component of the building, Mr. Ganzon said, would allow the firm to get funds at need, since office spaces do not sell as quickly, and more often, generate revenues through lease payments.

Construction of the skyscraper has been put on hold due to a legal tussle between the developers and the Greenhills East homeowners association.

Mr. Ganzon said the IPO "is still the best option possible" in funding the construction of the 77-storey Skycity as loans are too costly.

He said the company is taking steps to increase awareness of retail investors about the firm.

Among others, Mr. Ganzon said, the company is starting a 170-room condominium hotel project in Cebu which will have a "unique" marketing concept.
__________________
Makati City
Ortigas Center, Philippines
Anywhere else in Metro Manila
by wally

^^

so, its likely to be on-hold still?

Property developer E. Ganzon mulling listing
Source: BusinessWorld
Date : 10/21/2005 11:32 AM
Author : Jennee Grace U. Rubrico

Property developer E. Ganzon, Inc. is considering listing at the Philippine Stock Exchange once it resumes construction of its skyscraper project.

In an interview, President Eulalio Ganzon said the proceeds from the offering will be used to fund the construction of the 77-storey Skycity project. "That [initial public offering, IPO] is still the ultimate intention, once we prove that we have a sustaining regular income," he said.

The company earlier estimated the Skycity project will cost P5 billion to build. However, with the spiraling cost of construction, officials said, it could hit up to P7 billion.

The project will be a mixed-use development, with office space taking up 13 levels, the residential component taking up 15 floors, and a hotel taking up 27 floors.

The residential component of the building, Mr. Ganzon said, would allow the firm to get funds at need, since office spaces do not sell as quickly, and more often, generate revenues through lease payments.

Construction of the skyscraper has been put on hold due to a legal tussle between the developers and the Greenhills East homeowners association.

Mr. Ganzon said the IPO "is still the best option possible" in funding the construction of the 77-storey Skycity as loans are too costly.

He said the company is taking steps to increase awareness of retail investors about the firm.

Among others, Mr. Ganzon said, the company is starting a 170-room condominium hotel project in Cebu which will have a "unique" marketing concept.
__________________
Makati City
Ortigas Center, Philippines
Anywhere else in Metro Manila
by wally

nice project but very expensive :eek2:

The peso strengthened further Thursday to 54.63 against the US dollar from Wednesday's 54.72 close.

The Philippine currency opened 54.69 and the dollar was traded between P54.56 and P54.765. The greenback averaged P54.66 on $477.08 million worth of trades.

:omg: OMG! If this trend will continue, baka P50 na ang Peso-Dollar Xchange Rate by January.

^^ Keep your finger's crossed! :colgate:

My fingers are now crossed and I'll keep it crossed until the peso'll be back to P40 rate. :D ;) :) :D

My fingers are now crossed and I'll keep it crossed until the peso'll be back to P40 rate. :D ;) :) :D

and that is not impossible ;)

^i remember but this was back in 2002-03, peso to dolyares was P43

^i remember but this was back in 2002-03, peso to dolyares was P43

yup, but I'm getting my hopes up because it isn't bad to dream even though it has a very big change of getting shattered lol

I think when I left the Philippines the Peso was $27/$28 to the US Dollar.

yup until ERap aggravated the asian crisis.

the peso hit 52 to 1$ before Erap was voted in.

Actually if i remember right. The peso was around 40 before ERap was voted in. And then a few scandals and then it hit 50. I remember because after the asian crisis the peso was stronger than the thai baht,which was around high 40 or low 50s.

When I left in 1995, it was P35 to $1.00.

Actually if i remember right. The peso was around 40 before ERap was voted in. And then a few scandals and then it hit 50. I remember because after the asian crisis the peso was stronger than the thai baht,which was around high 40 or low 50s.

Yup that's what I remember too. I blame the downfall of the peso on Ramos because in his earlier term, the peso was I think 26 to 1 USD then it went up as his term progressed

Yup that's what I remember too. I blame the downfall of the peso on Ramos because in his earlier term, the peso was I think 26 to 1 USD then it went up as his term progressed

Nope Sista, you cant blame Ramos for that. He couldnt control that. It was because of the Asian Financial Crisis w/c actually started in Thailand because of the overdevelopment in Property sector. Then the Asian Boom Bubble Burst. We were just innocent victims of World Market Manipulation (have you heard of George Soros) look him up in google. He is so filthy rich that he can practically play with a countries economy by speculating the currency market and in the end he makes profit from it. And with susch a "kapal Muks" he will donate a few trillion dollars to countries that got hit by his doings. Imagine that.

Regarding Ramos, he actually did good in preparing the Philippine Currency from sliding down more. After the Crisis, Philippines was actually one of the currency that ended strong and posed for an early recovery. It was hovering around P40+ to a US dollar.

Then Estrada came, and the rest is History! :bash:

I remember saying to myself then, if Estrada wins the Election its DOOMS DAY for the Philippines and I'll be out of the Country so fast like nobodies business! LOL. So here I am now, Workin my Ass off in a foreign Country.

1 is to 1 is good enough... :D in my wildest dream...

Nope Sista, you cant blame Ramos for that. He couldnt control that. It was because of the Asian Financial Crisis w/c actually started in Thailand because of the overdevelopment in Property sector. Then the Asian Boom Bubble Burst. We were just innocent victims of World Market Manipulation (have you heard of George Soros) look him up in google. He is so filthy rich that he can practically play with a countries economy by speculating the currency market and in the end he makes profit from it. And with susch a "kapal Muks" he will donate a few trillion dollars to countries that got hit by his doings. Imagine that.

Regarding Ramos, he actually did good in preparing the Philippine Currency from sliding down more. After the Crisis, Philippines was actually one of the currency that ended strong and posed for an early recovery. It was hovering around P40+ to a US dollar.

Then Estrada came, and the rest is History! :bash:

I remember saying to myself then, if Estrada wins the Election its DOOMS DAY for the Philippines and I'll be out of the Country so fast like nobodies business! LOL. So here I am now, Workin my Ass off in a foreign Country.

thank you for the background information there :okay: . I heard about George Soros too and a little about the Asian Financial Crisis but it was very vague to me since I was not up to date with the news during that time, and a lot of people around me are against Ramos lol. :booze:

That's true Olineal because we went to BAngkok around that time and I remember thinking wow our money is worth more than theirs now since Prices In BAngkok were a little cheaper compared to Manila.
I think if we had RAmos extend his term during the Asian crisis and not Erap, it would be a totally different story now. Those were a lot of wasted years again.

1 is to 1 is good enough... :D in my wildest dream...

Baka 1 kilo peso to 1 dollar yang 1:1 na yan.

^siguro kung commonweakth paren tayo ng us

There was a time in history when 1:1 happened. Just as Marites said.

I think I remember when it was 11:1. It was as recent as 20-25 years ago. Or maybe it was 18:1. Still this was around 20-25 years ago.

my dad told me that there was a time when it was 0.50:1

the earliest recall i have was 7:1

7 to 1 that was around late 70's

^mid 70s

Yes, my parents told me (and I remember reading) that the best that it ever was was around 7 to 1 back in 1973 or sometime around that period. By the early 90s it was 20-30 to 1.

We left 7 to 1 in 81.

Bringing it back to these levels would be hyperinflationary though.

Ok yeahh... so it was dynamic, ranging between 11:1 through 14:1 around 1985. One year later, it was 18:1... this was after Marcos. I also remember when people talked about buying dollars then, they also used the words "black market." As in buy your dollars at the black market so you get better rates.

These days, I'd just go to the money changers in Unimart in Greenhills. They have the best rates.

Although she restored our chaotic democracy. Cory didn't really do much else , in fact series of negative growth while she was in power . but tha'ts off topic.

7 to 1 that was around late 70's
wow. totoo pala un. inabutan ko 15 to 1 na.

There was a time in history when 1:1 happened. Just as Marites said.

Yes! There was a time that the exchange rate was 1:1 but that was in the time of the Spaniards. It was still the 19th century. Actually the peso was a bit higher than the US$ at that time. It went down during the Philippine Revolution. And I got this information from Teodoro Agoncillo's book, History of the Filipino People.

When we became independent from the Americans in July 4, 1946, the exchange rate started from 2P:1$ or 0.50$ a Peso, beacuse it is included in a treaty with the US. It's a condition for our rehabilitation after WWII along with the Military Bases Agreement, Bell Trade Act and Parity Rights which I think are all favorable to the US Government. Anyway, we have no choice but to accept all these terms because we really need the money to rehabilitate our devastated country.

It became 7:1 when Diosdado Macapagal devalued the Peso in the 1960's.

Marcos era was 7 to 1 , then 14 then 24 to 1. On the black market it even went higher but we had a fix rate so mas mahirap pa noon.

What actually did Macoy in was that in the 78 run up where we had high growth they borrowed a lota money, but in 79 Iran was toppled and the price of oil spiked very dramatically overnight, this plus loose financial regulation and the dewey dee scandal which broke the backs of the nonbanking financial sector did pushed the economy to low growth and massive capital flight which forced CB to devalue the peso . We needed high growth rates to sustain the debt , with the world in a very sharp recession at that time (1982). things did not look up. Hence the Philippines went into default with the rest of the heavily indebted nations of the world. So there was much pressure to readjust the peso, then ninoy was killed and there was even more massive capital flight. What really did Marcos in was that in fear of Hyper inflation which was very common in the world at that time, Jobo upon instigation of the IMF, put in his cripling Jobo Bills which sopped up liquidity in the market and controlled inflation but basically killed the economy with interest rates of up to 48% (this is the formal not informal economy). This dropped the countries GDP by 10% in 84 then another 2% or something like that in 85. This is actually a case study now in what not to do in macroeconomics . For the first time in decades people were actually starving (negros area) , quite pathetic. This is very similar to IMF mandated programs in Indonesia the effects of which booted Suharto out after a very long period of stability and growth.

Peso closes slightly down today at P54.680 = $1.00

i had a dream the rate went to 53 to 1
i have a feeling further appreciation will occur given that my dreams come true

Newspapers project a rosy yearend finish for the Philippine peso. It may end up as the best performing currency in Asia in 2005. Reports say that the peso is the current "darling" currency in Asia.

Peso closes higher today at P54.650 = $1.00 from P54.680 = $1.00 yesterday.

Composite up by 16.88 to close at 2,046.93.

Seems that the economy is improving somehow. Let's just maintain or improve this pace to have a lower budget deficit and a higher growth. UNLESS, politicians would start their dirty tactics again and hurt the economy. We've done a lot of politicking for the past 3 decades. And what have we got? A major headache and also ulcer because of poverty! The people must now pressure ALL branches of government to start fixing the economy and stop their political battles. Because in the end, we would be the ones who would suffer the consequences of their actions while they are sitting pretty in their air-conditioned offices.

I'm crossing my fingers for our country. My dad who is usually a critic of everything even gave Arroyo the props yesterday. He said "she's doing good, she's running the government, that's good." This is a big complement coming from my father no doubt.

If we have political stability and no more scandals ,that elucive 7,8%growth is not so hard to achieve.

taken from inq7.net.. check out its headline for today (http://news.inq7.net/nation/index.php?index=1&story_id=55936) .. hahaha..

Peso seen at 54:$1 at end-2005, 53:$1 at end-2006
Posted: 2:00 AM | Nov. 09, 2005

Gil C. Cabacungan Jr.
Inquirer News Service

THE PESO is expected to continue its sizzling climb next year because of the implementation of the expanded value-added tax, according to a leading global bank.

In a report dated Nov. 3, Switzerland-based financial services group UBS said it had junked its old exchange rate forecast of 56 pesos to the US dollar at end-2005 and next year and now saw the peso hitting 54 to the dollar at yearend and 53 to the dollar at the end of 2006.

The last time the peso touched 53 to the dollar was in May 2003.

In the past month it gained three percent against the dollar, and last week it reached a five-month peak of 54.55. It is on course to end the year as Asia's best performing currency, analysts said.

On Tuesday the peso ended trading at 54.65 to the dollar.

Its strength has been attributed to robust income remittances from overseas Filipino workers and improved market sentiment with the enforcement of a new value-added tax (VAT) law that the government says is key to addressing its budget deficit and debt problems.

UBS agreed. Implementation of the VAT law "if not reversed, we believe … is the beginning of a sustainable turnaround in the Philippine fiscal position. We think this should continue to support the peso and the bond market."

"There is hope, once again. In fact, more than just hope," UBS said. "The beginning of the implementation of the VAT is big news for the fiscal dynamics in 2006 and beyond."

The expanded VAT is expected to add only P5 billion to government coffers this year, its implementation having begun only on Nov. 1. UBS said the first full-year impact in 2006 would hike the expected revenue by 11 percent to the equivalent of 1.4 percent of the gross domestic product (GDP).

"We argued that this bill, together with a series of increases in power tariffs applied earlier, was sufficient to lower the Philippine budget and debt-to-GDP ratios. The latter had increased precipitously since the mid-1990s, resulting in repeated downgrades of the sovereign rating and presenting a key overhang for Philippine asset markets," UBS said.

The investment bank said the next test would come in two months when President Gloria Macapagal-Arroyo would decide whether to increase the VAT rate from the present 10 percent to 12 percent under a provision of the VAT law.

"But, the fact that the administration managed to pull the implementation of the first part of the bill off the ground, in our view, should bode well for the rise in the VAT rate," UBS said.

By hurdling legal and legislative obstacles in putting in place the expanded VAT, the government can slash its budget deficit by 25 percent through spending cuts and improved tax revenue, the Swiss bank said.

"We believe the combination of a sharply higher primary surplus, negative real interest rates, and a strong exchange rate will cut the debt-to-GDP ratio by eight percentage points to 91 percent," it said.

While a 10-percent VAT would be enough to rein in the budget deficit and keep the debt levels on a "gradual, declining path," the bank said the President would still need to raise the VAT rate to allow the government to increase capital spending and create a buffer should revenue collections fall below expectations.

"There is, of course, still a risk that implementation could once again be reversed, and that the VAT rate will not be hiked to 12 percent in January.

"However, the actual implementation is already more than we had dared to hope for following the series of disappointments over the course of the past six months. And, it is enough for us to fundamentally change our view on exchange and interest rates," UBS said.

UBS is also projecting a significant drop in the country's borrowing costs. It expects the interest rates on Philippine 10-year bonds to fall to 10.5 percent by the end of next year from just under 12 percent at present. With INQ7.net

Copyright 2005 Inquirer News Service, INQ7.net. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Yepeeee!!! I hope the forcast comes true!!! :cheers:

Yes, I've also read the news. I hope that it would really really come true! We must pray harder this time because we can't control our politicians' actions.

Anyway posted what I learned from a contrarian perspective in the Not so Good news. YOu can check it out there so there's no double post.

Hey, Peso is looking up real good

Its now at 54.54 to 1



Stocks close 0.30 percent lower due to profit-taking, peso higher
11/11 1:59:18 PM

Local shares ended trading lower Friday due to profit-taking as the index closed lower by 6.46 points to 2,092.68. The All-Shares market also closed lower by 3.30 points to 1,265.47.

Most of the subindicators reflected the downward movement except for mining and property, which ended in the green. The biggest loser in the day's trading was financial, which was down by 13.35 points.

Volume traded was pegged at 787 million shares worth 1.18 billion pesos. Decliners narrowly beat advancers, 38 against 36, with 44 issues unchanged.

At the foreign exchange market, the local currency was trading slightly higher against the US dollar at 54.548 pesos as compared to yesterday's close of 54.690 pesos.

Wait a correction

Peso ended at 54.42!!!!!!!

Wait till taxes go up on Jan. 1. I wouldn't be surprised if the peso hits 52.90ish after New Years Day.

Oh, I am seeing GMA's opposition acting like a babbling bumbling band of baboons (fro prof mcgonagall) now that the prospects for the country are great! Way to go GMA, suffer in hell opposition demons!

^ I believe GMA sincerely wants Phils. to prosper prob. more than us ,because that's her job. Who wants to fail in their job. The opposition are crabs. We can't afford crabs now ,after we have reached developed status then we can have all the crabs come out.

^ I believe GMA sincerely wants Phils. to prosper prob. more than us ,because that's her job. Who wants to fail in their job. The opposition are crabs. We can't afford crabs now ,after we have reached developed status then we can have all the crabs come out.

My teacher used to correct us with this belief that crabs pull their colleagues down when their on top of them or what we call 'crab-mentality.' Well, he made an experiment and showed that crabs do not pull their fellows down. So, I hope that we would do justice to these crabs.

Instead of crabs we should use other adjectives like -'double-faced self serving monsters and an ever selfish hungry beast.' If you would tell me that this is unfair beacause not all politicians are like this, then I would surely agree. Yes, not all politicians are monsters but most of them. About 98-99 percent I guess...

So instead of investing in these people let us just invest in other productive things.

^ I believe GMA sincerely wants Phils. to prosper prob. more than us ,because that's her job. Who wants to fail in their job. The opposition are crabs. We can't afford crabs now ,after we have reached developed status then we can have all the crabs come out.

I agree with you sister! hehehe. My teacher used to work at the government and she said that GMA is really good because she believes in discipline. She makes sure that everyone is working and is on time, if not, she gets mad.

^ There are always going to be crabs and detractors, especially in a culture like ours. What's really sad is the fact that some people actually believe with their hearts those that are the real troublemakers. That is a piece of hope taken away.

I agree with you sister! hehehe. My teacher used to work at the government and she said that GMA is really good because she believes in discipline. She makes sure that everyone is working and is on time, if not, she gets mad.
You're right sista, discipline and cleanliness is next to godliness which leads to prosperity. Pinoys have gotten used to unruly ways they like to abuse their rights. My deceased Aunt who used to work for the Court of Appeals said all the govt.workers hated Davide, because as soon as he became ChiefJustice he tried to streamline their system, no more naps, no more coming in late and no more shopping at Robinsons during work hours. Can you believe the nerve of that Davide.

the peso going veryvery strong today!!! also the stock exchange!!

galing GMA!!

how's the peso?

how's the peso?

no news yet :) closing in at 54.42 (november 5-11) courtesy of The Philippine Star

marites: I wish we have more officials like those of Davide and GMA para di sila aabuso. My teacher said that during Erap's time, his employees are more spoiled lol

sista, how young are you BTW?:)

^^ secreto na yun hahahah ;)

ETA: let's just say I'm 13 (even though I'm really older)....para di ako magmukhang tanga pag immature or mga walang kwenta posts ko ;)

no news yet :) closing in at 54.42 (november 5-11) courtesy of The Philippine Star

marites: I wish we have more officials like those of Davide and GMA para di sila aabuso. My teacher said that during Erap's time, his employees are more spoiled lol
that's why they loved him. Walang inisep yun kundi maggoodtime at magpalago ng angkan.

I am very very ridiculed by what is happening now, just weeks ago EVERY single persn in alliance of the OPPOSITION wanted GMA out and just these past few days, everything went good, cheers for our iron lady president!

I just keep on wondering what scandal the opposition will throw at madame GMA next time, I would bet a peso for a sex scandal of GMA or perhaps a document that says the government is going to enforce marshall law next week.

Yesterday's close: P54.57

i guess the strenghtening peso is both good and bad for me. on one hand, the dollars i send home are of less value, on the other, my dad can more easily pay off his dollar loans. but i do think it's better for the Phils as a whole and that is what is more important.

one of the good effects is the stronger the peso gets, the lower gas prices would go..:)

^^ and with lower gas prices, lower cost of production, transport, electric bills then hopefully lower inflation

the peso surged to Php54.30 pala yesterday before closing at Php54.405 :cheer:

^^ well hopefully it doesn't go too high muna naman. our exports might lose their competitive edge. siguro P52 to a dollar would be good for now

i don't think it will reach higher than 52 before the year ends. but yeah, siguro around 53 or 52 would be fine.

... and to think that people were saying that it would be P60 at the end of the year. Good thing those critics were proven wrong

the peso surged to Php50.30 pala yesterday before closing at Php54.405 :cheer:
50.30? are you serious

I think he meant 54.30, not 50.30. We probably won't see that number for another year or so.

ooppss, im so sorry ate marites. louman is right. it should've been 54.30, not 50.30. typo :D

im just wondering, if the peso continous to soar higher, do you think the foods, clothings, etc. <their prices> will decrease??

Yeah, but only if they're imported. As for locally made food and clothing, I'm not sure.

In the movie Yamashita Treasure, the one with Danilo Barrios in it, when they found the treasure of Yamashita the exchange became $1=P4, quite far-fetched huh? almost impossible.

Comparing prices adjusted for currencies then tells us a bit about purchasing power in the various countries. The cheapest Big Mac is in the Philippines ($1.23), the most expensive in Switzerland ($4.90). In other words, the Philippine peso is the world's most undervalued currency, the Swiss franc its most overvalued.
Source: http://www.skyscrapercity.com/showthread.php?t=118957

Does it mean that the true value of the peso should be somewhere near 50:1? Dang politics... always dragging the peso. :D

rite now... ((1 year, 4 months later)) the big mac on mondays are $1.00! hahaha

i miss eating big mac btw.. i have braces so cant bite it or else my brackets will be detach..

^ what, thats a phony braces then, when i had braces i used to eat everything even bulalo :)

^^

whats a phony braces???

my friends who have braces used to it soft foods rather than hard coz it really sensitive..

but im using chain elastics, so its NO NO for me.. it would look bad if one bracket were detached..

^^ i had braces for 2 yrs n a half, 'till i was 17. very geek looking in here. i wear glasses too, but i told my mom that kids are gonna beat my ass if i wear both. so instead she got me into contact lenses :lol:

^^ i had braces for 2 yrs n a half, 'till i was 17. very geek looking in here. i wear glasses too, but i told my mom that kids are gonna beat my ass if i wear both. so instead she got me into contact lenses :lol:

Do you have a picture of that Tigs? Can't imagine. When did you transition from geek to stud? Can you please post before and after in the Photo Album thread? And now because of SSC, you're reverting to geekdom? lol.

Didn't you have lasik done yet? I did. So liberating.

But some of us are attached to our glasses like they're a part of our faces. I cannot imagine myself without them. I actually do wear contact lenses at times but these are very rare occasions-- for instance, I wear them when I'm skiing or swimming (under goggles).

Good News:

The Peso continues to strengthen against the Dollar.

P54.30=S1 ;)

Buy your peso coz next year it will hit 50 mark

Tumitigas na pala ang peso ah kaya pala excited kayo dito.

Go Peso Go! :cheer: hayan, hindi lang atleta natin ang chini-cheer, pati peso hehe!

Yahoo!!!!!

side not lang:
I have a friend here who is connected in some way to the opposition. And of course, iba nanaman ang version nila. Minamanipulate daw ng gobyerno ang peso para magmukhang maganda si PGMA at ang EVAT. Hay naku! Panay conspiracy theory lang mga yan. Can't they just be happy for once for our country regardless of who is in power? Talagang napaka-selfish ng mga yan! Bwiset!

^I think time will tell if the peso will really become stronger against the dollar, especially after the Christmas season.

But some of us are attached to our glasses like they're a part of our faces. I cannot imagine myself without them. I actually do wear contact lenses at times but these are very rare occasions-- for instance, I wear them when I'm skiing or swimming (under goggles).

Yeah. I understand that. Some people actually look more attractive with eyeglasses on. Besides justl like Woody Allen, John Lennon, Groucho Marx, et al., their spectacles have become so much identified with their images.

But Lisa Loeb and Tina Fey I think should get rid of their glasses or just wear them occasionally. What's the topic here again? Oh sorry, off topic. How do I tie this to the peso issue? Lasik as much cheaper in Pinas. And the Philippine eye doctors have such extensive experience. Actually the lasik process was started way ahead in Pinas than in the US. I think it's because of rigid medical practice in the US. They wanted a lot of test-runs in other countries first before adopting the process. I think lasik started in Russia and now it is a very popular procedure. But still, a lot of people would rather stick with their eyeglasses and/or contact lenses.

and they said the budget deficit will be reigned in 50% below target 4 the year, double whammy good news for the economy hooray

Didn't you have lasik done yet? I did. So liberating.

:lol:, im gaining some weight now too :lol: no, hasnt done lasik yet. i was gonna do it in canada because theyre much cheaper but i retreat besides my eyes aren't that bad yet, its only -2.25 and i wear contact lense most of the time. i only wears glasses at home even my cousin were suprise seeing me in glasses. :)

Geek to Stud to Couch Potato Spud. :D

^;), dont worry im gonna start running again after thanksgiving :okay:

Doesn't matter as long as you still love me in my old age. I'll try to be like Demi Moore. Haha.

Hey, Mrs. Robinson... :jk:

^^ magalit sa kin si choot or andy :lol:

back in the topic: beware of the fake dollars, its going around in pnas mostly in small denomination and pesos is P54.30 i think the stronger the pesos is, the more money the pilipino consumer are able to use, buy or purchase such as needed neccessities i.e fuel, electricity and food

^ Just small denomination? What about this:

http://i10.photobucket.com/albums/a137/ECdoesit/bushbill1.jpg

SEPTEMBER 12--North Carolina cops are searching for a guy who successfully passed a $200 bill bearing George W. Bush's portrait and a drawing of the White House complete with lawn signs reading "We like ice cream" and "USA deserves a tax cut." The phony Bush bill--a copy of which you'll find below--was presented to a cashier at a Food Lion in Roanoke Rapids on September 6 by an unidentified male who was seeking to pay for $150 in groceries. Remarkably, the cashier accepted the counterfeit note and gave the man $50 change. In a separate incident involving a different perp, Roanoke Rapids cops Tuesday arrested Michael Harris, 24, for attempting last month to pass an identical $200 Bush bill at a convenience store.

And this:
http://i10.photobucket.com/albums/a137/ECdoesit/fakemillbill.jpg
MARCH 9--A 35-year-old Georgia woman, Alice Regina Pike must think Wal-Mart cashiers are rather dumb, because she actually just tried to pass a $1 million bill at one of the retail chain's megastores. According to this amusing Covington Police Department report, Pike was attempting to pay for $1671.55 in merchandise, but a Wal-Mart clerk called over her manager when she was handed the bogus bill (instead of handing over $998,328.45 in change). As first reported by Joey Peters of the Newton Citizen, Pike was arrested for forgery and booked into the sheriff's lockup, where the below mug shot was taken. Pike, who told cops that her husband had given her the $1 million bill, was found to have two more phony seven-figure notes in her purse. Perhaps she would have fared better with a $200 bill.

Hey I have one of those $200 GWB bills. I didn't buy any groceries with it though.

I don't know if I should feel bad for the store clerk for making the mistake of accepting a $200 bill or if I should feel bad for the store clerk for thinking GWB would ever be on a dollar bill.

Hahaha. :lol: Look at the placards on the back of the bill "We Like Broccoli", "We Like Ice Cream". Looks like you had a hand designing that bill.

May sukli pa.

Note: The note is "moral legal tender".

hey, the peso is 54.22 : 1 right now.. i believe it'l hit 53:1 by december.. barring any political problems..

hey, the peso is 54.22 : 1 right now.. i believe it'l hit 53:1 by december.. barring any political problems..

IT CLOSED at 54.30: 1 today, SAME AS YESTERDAY's CLOSE

I'm glad that the PSI has breached the 2,000 level and seems to be stabilizing at that level. I hope it goes up to 3,000 next year.


PSE earns P31 million in Q3

The Philippine Stock Exchange’s net profit for the third quarter to September rose 58 percent to P31.08 million from P19.66 million a year earlier because of higher trading volumes. The exchange said its operating income for July-September was up 38 percent at P52.88 million from P38.34 million, boosted mainly by a sharp rise in service fees to P9.02 million from P393,926. Its operating expenses increased over 9 percent to P47.35 million from P43.38 million a year earlier. Earnings per share for the quarter amounted to P2.03, up from P1.29 in the same period last year.

Peso rallies to 54.17 vs $
OFW money, foreign investments lift currency


First posted 00:05am (Mla time) Nov 25, 2005
By Doris C. Dumlao
Inquirer News Service



Editor's Note: Published on page A1 of the Nov. 25, 2005 issue of the Philippine Daily Inquirer

THE PESO yesterday rose to its highest level in over six months, extending a month-long rally that has made it Asia's best performer this year.

The peso rallied to 54.17 per dollar, its highest traded level since May, before ending at 54.30 or the same rate as the previous day, as corporations found a good opportunity to scoop up cheaper dollars.

The local currency has risen 2 percent in the past month.

"The peso is supported by continued inflows from overseas Filipino workers and foreign investments," said Diwa Guinigundo, deputy governor of the Bangko Sentral ng Pilipinas.

Remittances from overseas Filipino workers peak around Christmas, the most important holiday in this predominantly Catholic country.

James McCormack, Fitch Ratings head of Asia Pacific sovereign ratings, said the country's strong external position was leading to the peso's appreciation.

"Remittances tend to be a reliable source of foreign currency earnings. That should show in the balance of payments," McCormack said.

He said the foreign exchange reserve position was very good. "I think that those two factors [remittances and dollar reserves] are basically what's behind the improvement in the exchange rate."

The country's budget deficit in the first 10 months was lower than targeted. National Treasurer Omar Cruz said Wednesday he expected the government to run a budget deficit of P140 billion for the full year, P40 billion smaller than forecast.

Shahab Jalinoos, ABN AMRO Bank's currency strategist, said "a lot of positive news on the budget side and a big thumbs-up from the IMF for the Philippines" were boosting the peso.

Earlier this week, the International Monetary Fund said the country had made significant progress with economic reforms.

Traders said that after the peso broke the 54.20 barrier yesterday, it gave up some gains as the lower exchange rate attracted buyers, in turn offsetting the strong inflows from overseas Filipino workers.

The demand for dollars came from companies with debt payment and import requirements, which found buying opportunities at levels below 54.25 to the dollar, the traders said.

Too fast, too soon

Some banks also covered their short positions on the dollar, thus slowing down the peso's ascent.

"Some traders probably think that a fall that's too fast and too soon is not good," a trader with a local bank said.

But even as the peso finished flat at 54.30, it was still trading at a six-month high since ending at 54.20 on May 13.

The currency yesterday moved between 54.17 and 54.32 against the greenback and averaged 54.239 compared with the previous session's average of P54.338.

Still on uptrend

The volume of dollars traded amounted to $547 million, down from Wednesday's $667.7 million.

The peso is still on an uptrend although the local currency may succumb to profit-taking from time to time, dealers said.

The peso is expected to trade between 54.10 and 54.40 against the greenback today.

"Technically, the dollar is neither here nor there. There's no strong signal yet to continue selling," another trader said.

The peso's low correlation to the Japanese yen compared with other Asian currencies also left it with less downside risk if the yen's slide against the dollar continued, according to Jalinoos.

High interest rates

Analysts say high interest rates have raised demand for Philippine assets in a market thirsting for yield.

Jalinoos said the peso could head for levels around 54 per dollar unless the authorities intervened to cap the currency.

"There is room for more gains. The only real barrier at this juncture could be the central bank, if they think it has gone too far," he said.

In the secondary market for Philippine treasury bonds, yields were lower on ample liquidity and positive sentiments spurred by recent improvement in the government's fiscal performance.

The five-year T-bond yield was quoted at 10.239 percent compared with Wednesday's 10.379 percent. With a report from Reuters

Great news, the peso is rising at a faster rate than I expected.

peso closed at 54.15 today..

wow.. peso is moving so fast... hinay-hinay lang muna...

wow hataw na talaga ang peso! :righton:

waaaah... very good news.. is it because of the e-vat??? i hope it will not drop down... it would be such a shame...

peso closed at 54.15 today..

Wow...Really impressive.. I hope it'll be @ 52:1 by J06.

if the peso keeps appreciating like this, i hope i dont have to push back my plans of going back home to the philippines for good in 2010. im tired of working here in the states. i will be 45 when i go back home to the philippines. life is too short. im chasing time now. i still want to enjoy my life in the philippines. if i keep extending, i will be coming home in my wheel chair because of old age. i just hope the peso wont go below the 50 mark or else im in big trouble.

aah doesn't it always feel like we're chasing time.
IF the peso goes below 50 at least you will have cheaper priced good by the time you come home.

if the peso keeps appreciating like this, i hope i dont have to push back my plans of going back home to the philippines for good in 2010. im tired of working here in the states. i will be 45 when i go back home to the philippines. life is too short. im chasing time now. i still want to enjoy my life in the philippines. if i keep extending, i will be coming home in my wheel chair because of old age. i just hope the peso wont go below the 50 mark or else im in big trouble.

Are you saying you are banking on the higher peso-dollar exchange rate to support your return to the Philippines? So if the peso becomes stronger, you will opt to stay longer in the US? hmmm...

aah doesn't it always feel like we're chasing time.
IF the peso goes below 50 at least you will have cheaper priced good by the time you come home.

I doubt this will happen. It's very rare the prices of commodities go down.

yeah how about the commuters pamasahe, is that gonna go down

I appreciate your concern, cruizer but i think it would be unselfish if we consider the peso's good performance as beneficial to our country's economy rather than worrying how much peso we will getting out of our dollar. If the peso goes below 50, well and good - us overseas will just have to work harder to recoup the "loss". However I urge you to stick to your plans and go back at 2010 and enjoy life - it's not easy to finish a six pack when you're over 45 :bash:


if the peso keeps appreciating like this, i hope i dont have to push back my plans of going back home to the philippines for good in 2010. im tired of working here in the states. i will be 45 when i go back home to the philippines. life is too short. im chasing time now. i still want to enjoy my life in the philippines. if i keep extending, i will be coming home in my wheel chair because of old age. i just hope the peso wont go below the 50 mark or else im in big trouble.

It will go down because oil is purchased in dollars. THe stronger the peso the cheaper everything that is bought overseas. Most of our rawmaterials and tech stuff are imported . It will create a domino effect. There will be neg. factors like our exporters complaining their products will be less competitive, but that's negated by all the benefits a strong peso will bring. OUr debt servicing and budget deficit alone will benefit tremendously by a stronger peso. Means more budget for other important things like building infrastructure and spending on schools etc..

GO PINAS GO
GO PINAS GO
GO PESO GO


Has more room to appreciate — BSP
Peso closes at 6-month high vs $

The peso ended at its highest level in six months for the third session in a row yesterday, bolstered by pre-weekend remittance inflows and perceptions that the local currency has room to rise further, traders said.


The dollar closed at R54.15 on the Philippine Dealing System, the lowest finish since ending at R54.13 on May 9. It closed at R54.30 Thursday.

The US unit moved in a range of R54.11-R54.42, and averaged R54.26 compared with the previous session’s R54.239.

The volume of transactions rose to $652.4 million from $547 million Thursday.

Many market participants sold their excess dollar holdings as they expected remittances from overseas Filipino workers to pile up ahead of a long weekend.

The Philippine financial market is closed on Monday for a public holiday.

Traders said bullish comments from the Bangko Sentral ng Pilipinas yesterday supported the market’s expectations that the peso’s rally — which began this month and made the local currency Asia’s best performer this year — will continue.

Earlier Friday, Bangko Sentral ng Pilipinas Governor Amando Tetangco said the peso has room to appreciate given strong migrant workers’ remittances and investment inflows spurred by the government’s improving fiscal position.

"If you look at both fundamental and technical factors, the indication is for a stronger peso," he told reporters.

Tetangco also projected that the dollar may move in a range of R53-R55 next year, lower than the R55R57 assumed in the proposed 2006 budget.

The peso has gained 1.5 percent since the beginning of November, when the government finally implemented the expanded value-added tax — the most important measure in a package of fiscal reforms aimed at balancing the budget in the next few years.

Most traders expect the peso to extend its rally next year, when the government is set to increase the VAT rate to 12 percent from 10 percent.

Even after the seasonal support from overseas workers fades early next year, the peso will likely stay afloat because of the positive fiscal outlook resulting from the higher VAT rate, they said.

"There’s always the risk of renewed political uncertainty, but most people are focused right now on the positive developments on the macroeconomic front," said a trader.

National Treasurer Omar Cruz said earlier this week that the budget deficit may come in narrower than expected this year, possibly R140 billion against a ceiling of R180 billion, if the government beats the fiscal goals for the last two months of the year.

On top of the positive fiscal numbers, the economy continues to enjoy a strong external position. The central bank has said it expects the balance of payments surplus this year to reach $2 billion, more than double an earlier projection of around $900 million.

In the secondary market for Philippine treasury bonds yesterday, yields were lower on ample liquidity and a positive fiscal outlook for the country. The five-year treasury bond’s yield was quoted at 10.192 percent compared with Thursday’s 10.239 percent, according to the Money Market Association of the Philippines. (Dow Jones)

fine: bababa yung pamasahe kasi tumataas ang peso at bumababa yung langis. can any1 answer me, im curious

God i hope no one spoils the current trend of the Peso. I think it has a possibility of hitting 50 again.

The real value of the peso is around 40 at par with the thai baht or slightly lower.