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@ignissus BNCOM PE ratio at 1.7. P/B = 0.80. I'm used to seeing IPOs with PE > 10. P/B < 1 means the company is destroying value and is worth more if it's liquidated. Why is the stock extremely cheap? What's wrong with the company?

@ignissus AFAIK, Russia has a huge freight disadvantage when shipping to China. This is why they have to offer discount of 35% just to be competitive. There is very little infrastructure to bring Russian coal, oil and gas to China's major consumption centers near the Pacific coast.

@etxn1960 You can download a copy of the SGP Financial Reports here https://edge.pse.com.ph/companyDisclosures/form.do?cmpy_id=166

@etxn1960 "Restating past earnings" and "future rate adjustments" are not "economically equivalent". The first one will result in fines, loss of face for SGP management and KPMG, lawsuits and other bad consequences. Heads will roll. The second one happens all the time to MER and NGCP. We don't...

@etxn1960 The ERC asking NGCP to restate earnings for 2016 to 2022 will be really messy. That's not up to the ERC. The COA, BIR and SEC will likely disagree. In my experience, that's highly unlikely. What is less messy and more likely is that *if* ERC does rule that NGCP/SGP collected excess...

@etxn1960 We do know the ROE for 2020, 2021 and 2022. They are in the Audited Financial Reports which are available in edge.pse.com. Perhaps you mean the future ROEs. We’ll just have to see. Assuming you are right (I went over some of the ERC documents but gave up after a while), it’s possible...

@ignissus For me: Company announces initial coin offering = desperate and out of ideas to raise money

Clarification: DU30 forced Roberto Ongpin to sell PhilWEB to Greggy Araneta, the husband of Irene Marcos.

@etxn1960 I did a quick review of the SGP 2022 annual financial report. I didn't see anything re ERC rate negotiations. So I can't comment on that. We'll just have to see. The 2022 Return on Equity (ROE) = 25%. 2021 ROE = 20%. 2020 ROE = 22%. These are actually fantastic numbers. My benchmark...

@xbgx I have been accumulating SGP. I don't know why the market doesn't like it. It's a monopoly. P/E = 3. Dividend Yield is 10%.

@ignissus In contrast to PNX's 9M 2022 drop to P 1.1B loss, SHLPH which is more or less in the same business (downstream fuel merchant with no refinery) increased their 9M NIAT from P 3.4B in 2021 to P 4.4B in 2022. I'm not sure I agree with PNX's explanation (excuses?).

@mauro_g I agree with your point but I think you are being too kind. Dennis Uy abused his relationship with D30. DITO is fundamentally unprofitable. He fooled a lot of investors and lenders who should have known better into providing him capital. He made it worse by borrowing more money and...

@ignissus Re: DITO. Running a big business with a current ratio of 0.02 just blows my mind. That means you don't have cash at all. None to pay your suppliers, the bank or your employees. If I were a senior manager, I would have resigned a long time ago. The solution they teach you in...

@itscw If you applied buying and selling commissions + VAT on sales on LTG and MREIT, and the 10% tax on dividends, what's the net gain? What's the May 31 value of your portfolio (value of shares + dividends)? How much did you gain or lose compared to your original P 100k? NOTE: You can't...

@anielswings81 Thanks for this. I'm not sure if you applied 10% tax on the P 12,860 dividends. If not, the beat is even smaller. Either way, I agree with you. A 1.3% beat for me is too small for the risk. The numbers only seem to work because the share price rose from P 8.80 to P 9.90.

@question Get a job so you have a steady income. Take the camera. Build your portfolio during weekends and off hours. Start photography as a hobby or a side business. Don't go all-in unless you know that the business is sustainable. Don't get the house. Owning and maintaining a house costs...