15 November 2008

Philippine Stock Exchange Spy

Subject: Manila Electric Company

Message: Lopez days in Meralco are numbered: Too many debts, too little intrinsic value. But I wish them luck. They are a good family, I hope they can hurdle their challenges but I have to reveal what is on my crystal ball from time to time---kung hindi ako naman ang maloloko. Wala akong outlet eh. Some people thrive on gossip! :)

From my sources Ramon Ang is DEFINITELY negotiating with SSS and Land Bank and other large block holders.Its hands down, the new Miss Meralco for 2009 AFTER the board meeting is not a Lopez but none other than Gretchen OPPEN Cojuangco (not the other one! Hahaha).......they will change the name from Meralco to San Mig Light Electric Company. Oh she was there at the party? She seldom goes out! How did you convince her to go out?! E yung barkada ni Maurice puro hiraman blues yung mga shoes at gowns hehehehe. Miss Meralco 2009 is one hot thing these days and she stays AWAY from the limelight, safely tucked in Hacienda Balbina in Negros. Bahala kayo dyan but I think Danding is the richest man in the Philippines.

Chinoy holding companies like AIG-Megaworld, JG Summit, SMIC have something like 78% shares intact, meaning they dont float in the public. So nevermind if the stock price goes to the dogs, the companies` values are intact. Read: Only associate companies have utangs or are highly leveraged---NOT the holding companies. With the Lopezes it is a different story because even the holding companies themselves are heavily saddled with debts.

I'm making these analysis as an INVESTOR: First Philippine Holdings own 33% of Meralco, BUT it is also publicly traded so that brings us to 14% of Meralco. Then it is held by another holding company which is also publicly traded, Benpres, so that brings us to 7% Meralco shares for Benpres. If you look at the balance sheet of Benpres, they have more UTANG than equity!!! So kulang pa ang 7%. Even with that 7% intact with all 200 relatives making hati-hati---nako ha ________ Lopez has no right to boast Meralco is his kasi mas marami pa ata ako holdings sa kanya via proxies hahahahaha. In fairness naman to the other Lopezes hindi sila mayabang and I hope they can untangle all these debt mess.

So that is that! Kahit naka Hummer si Celine Lopez at nag bu-bus lang ako---excuse me---mas mayaman ako sang sa kanya! Hahahaha. What good is a house in Forbes if it is all in debt? The Fernando side is kinda solid pa kasi they sold most of their shares and re-invested it in real property in the provinces, etc.Its a pity they keep selling GOOD companies like the Manila Tollways (after increasing the toll fee from Balintawak to Pampanga from 25.00 to 225) dyos ko hindi pa nakuntento.....e anong negosyo pa ba ang gusto nila! Even if you ask ________ the ________ truck drivers know this! Sabay kami nag-dedeliver sa _________ Pampanga and we paid 10 times the amount when the Lopezes took over the North Experessway---and YET they sold out to Manny Pangilinan!!!...(Europe is another story) Gosh. They also sold out Maynilad to the Consunjis. They are selling everything to pay their due bonds this coming November and credit is TIGHT!

ABS-CBN`s balance sheet is a far cry from GMA-7`s! GMA 7 has NO LONG TERM debt. Felipe Lapus Gozon is a fan of Steve Jobs: Zero Debt Club! Ang nakalagay lang ata sa long term debt niya ay tax provisions and retirement for employees.GMA-7 is solid as a rock!

Oh gotta get back....the opening bell is starting.....

From: PSE spy

PS Oh Miss Charo, do I really KNOW more from business to fashion to sexlives and all, dont think this tap will run out cuz it has just begun hahaha.....Ill make you a deal...hire me and Ill shut up. No? Hahaha.

PSE spy

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