Stock market: P127B lost after Duterte hits water firms

[Japinat]

I know most of us are aware about the biggest issue in our country which is the  Manila Water Co. and Maynilad Water Services Inc. onerous contract between the government. As president Duterte is threatening these two companies for economic sabotage on the said unjust contract, this results to panic selling of the investors of the said companies.

This is a big issue of the Philippines now and I think it's just right to bring it here and let's discuss about it.
It should be People of the Philippines against these two water Concessionaires.

KABAYAN, what's your take on the latest issue?


source : https://newsinfo.inquirer.net/1201237/stock-market-p127b-lost-after-duterte-hits-water-firms


PS. I hope mods will not delete this as it's a very important issue that involves every Filipino.

[blockman]

Ganyan talaga sa stock market kapag merong pangit na balita sa company tapos holder sila ng stocks nun, benta agad. Pero may magandang entry rin sila dyan kasi kapag bumaba bibili din yang mga yan agad agad. Katulad nalang ng nagkaroon ulit ng balita na hindi na nila sisingilin yung gobyerno ng P10B mahigit. Antayin natin pati yung stocks ng ABS-CBN before March baka bumagsak din. Hindi ako expert sa stocks pero parang crypto market din kapag may mga pangit na balita.

[Vaculin]

Ganyan talaga sa stock market kapag merong pangit na balita sa company tapos holder sila ng stocks nun, benta agad. Pero may magandang entry rin sila dyan kasi kapag bumaba bibili din yang mga yan agad agad. Katulad nalang ng nagkaroon ulit ng balita na hindi na nila sisingilin yung gobyerno ng P10B mahigit. Antayin natin pati yung stocks ng ABS-CBN before March baka bumagsak din. Hindi ako expert sa stocks pero parang crypto market din kapag may mga pangit na balita.

I am not trading outside crypto but it seemed like the same principle is use, there's also a panic because it's the president that is threatening the business of ayala and Pangilinan and these are their major businesses which are a billion dollar business so if something bad happens, other business might be affected as I believe these two tycons have ayala group of companies and pangilinan group of companies.

It looks like it's not wise to invest in philippine stock market at this time as the president might continue to look other businesses that he can stop when necessary.

[inthelongrun]

Selfish people and anti Duterte people will say the president is doing bad for our stock market and our economy in general. Actually our economy is performing well. Responsible investors have their own stop loss prices. Many are crying, whining and angry with our president because they lost big amounts. These selfish individuals are hindrance of our nation's progress. Even these water concessionaires are trying to reconcile with the president as they support him. You think those companies are losing big time? Yet they are ready to waive their billions claims. Duterte is not perfect but I agree with him on this issue.  

[Vaculin]

Selfish people and anti Duterte people will say the president is doing bad for our stock market and our economy in general. Actually our economy is performing well. Responsible investors have their own stop loss prices. Many are crying, whining and angry with our president because they lost big amounts. These selfish individuals are hindrance of our nation's progress. Even these water concessionaires are trying to reconcile with the president as they support him. You think those companies are losing big time? Yet they are ready to waive their billions claims. Duterte is not perfect but I agree with him on this issue.  

They are trying to reconcile because they got "check mate" already.
Not going after the 10 billion collectible to the government is non sense because the administration would not pay that amount anyway.

They need to face the consequences of their selfish action, they (water concessionaires ) are too selfish to even pass their corporate tax to the consumers while continue collecting fees for service improvement purposes when they can't provide to the people a better service.

they will be expose more as for sure there's a lot of anomalous transactions in the past that are yet to be discovered.

Kudos to the President for being brave enough in protecting the interest of the Filipino people.

[Darker45]

The mod has all the right reasons to lock this thread since this is not at all related to cryptocurrency. But this could very well be discussed in the off-topic thread as this is indeed a pressing issue.


My thoughts on this.

[1] This is actually more of a local issue. This is an issue that directly affects the people within Metro Manila and some nearby towns and cities, not the entire archipelago. Sometimes, I ask myself why the news on our national televisions, radio stations, and newspapers are all about this issue when the rest of Philippines is not connected to it.

[2] The contracts of the two concessionaires involved were signed in 1997 and, because of the recent cancellation, will end on 2022. There is not much to improve here because they are close to their end. There were onerous provisions but these provisions have been in effect for more than 20 years already. What is the point of changing them today when it is only a few years time before the contract will expire?

[3] The two concessionaires already waived their billions of pesos in claims against the government. The extension has been canceled. What is only left unattended perhaps is the accountability of the people involved. But if the congressional hearings are all about finger-pointing, they better be kept out of the national news.

[4] This is actually just another game among and between the few elites and the powerful. The victims, the ordinary people within the limited areas affected, are actually left out in the picture.

[Japinat]

The mod has all the right reasons to lock this thread since this is not at all related to cryptocurrency. But this could very well be discussed in the off-topic thread as this is indeed a pressing issue.

yeah I know that's why I express in my post that hopefully mod will not delete since I can't find the appropriate board for my post.

My thoughts on this.

[1] This is actually more of a local issue. This is an issue that directly affects the people within Metro Manila and some nearby towns and cities, not the entire archipelago. Sometimes, I ask myself why the news on our national televisions, radio stations, and newspapers are all about this issue when the rest of Philippines is not connected to it.

I beg to disagree, for water system it is for manila only but there's a bigger issue here which is the onerous contract.
This company is charging the government billions of money and with that, we are all involved as that money come from our taxes.

[2] The contracts of the two concessionaires involved were signed in 1997 and, because of the recent cancellation, will end on 2022. There is not much to improve here because they are close to their end. There were onerous provisions but these provisions have been in effect for more than 20 years already. What is the point of changing them today when it is only a few years time before the contract will expire?

They applied for extension I guess but that's not the thing here.
The Ayalas and Pangilinans were accused by Duterte of economic sabotage and they can't do this alone, so there will be more corrupt officials that will be expose here, with the investigation by the congress all the involved in this disadvantageous contract should answer to the government accordingly and they need to be in jail if proven committed a criminal offense against the government.

[3] The two concessionaires already waived their billions of pesos in claims against the government. The extension has been canceled. What is only left unattended perhaps is the accountability of the people involved. But if the congressional hearings are all about finger-pointing, they better be kept out of the national news.

The are establishing facts, the investigation has just recently started, we have to be patient and hope that they will come up with facts on who should be held accountable for this big criminal offense.

[4] This is actually just another game among and between the few elites and the powerful. The victims, the ordinary people within the limited areas affected, are actually left out in the picture.

We know how the oligarch play, they use their money and their influence but we should be thankful we have a president who are brave to expose their anomalous contract.

[Experia]

I am with the decision of PRRD, imagine ganito pala yan, kapag hindi naapprove yung presyong hinihingi ng maynilad sa tubig at ng manila water ipapasa sa gobyerno kaya nagkaroong ng 10b utang ang gobyerno sa kanila ibig sabihin hawak ng dalawang kumpanya sa leeg ang gobyerno kaya kahit anong presyo gusto nila dapat approbahan kundi ang gobyerno ang magbabayad kaya kapag tumaas ang presyo walang angal kahit na nakukuha nila ng libre ang tubig at kung tutuusin bawing bawi na sila sa pag lilinya ng mga tubo nyan. Imagine ang presyo nyan is 25 pesos per cubic meter at may mga extra charges pa kaya dapat lang ang ginawa ng Presidente at sana lang e ang mga basic commodities ay mahawaka ng gobyerno at hindi ng mga oligaryo.

[joshy23]

Ang tindi ng mga business owners na to hindi naman lingid sa kaalaman ng mga pinoy na hindi lang waters firms ang hawak nila kundi madami silang stock outside ng negosyong ito. Malaking impluensya ang magagawa nila pero bilang pilipino nasa panig ako ng pangulo. Dapat maihayag na yung kalokohan ng mga perwisyong negosyanteng katulad nila sana nga ituloy ni pangulong Duterte na itakeover ng militar yung MWSS magkasubukan na talaga kung gaano kalaki ung perang palalabasin ng mga mayayaman na to para ikalugi nila..

[Clark05]

Sa ayon ako kay President Duterte mas maigi tignan niya rin amga sevice ng maynilad at manila water kasi dito sa amin ang tagal tagal nang walang tubig tuwing umaga hanggang hapon gabi lamang nagkakaroon tapos bakbak pa ng bakbak ng kalsada kaya dapat matakot talaga yang mga company na yan at sana magkaroon tayo ng mas magandang company na magsusuply ng tubig sa atin hindi yang dalawang yan na inatupag kundi manloko ng mga customer nila.

[Kambal2000]

Selfish people and anti Duterte people will say the president is doing bad for our stock market and our economy in general. Actually our economy is performing well. Responsible investors have their own stop loss prices. Many are crying, whining and angry with our president because they lost big amounts. These selfish individuals are hindrance of our nation's progress. Even these water concessionaires are trying to reconcile with the president as they support him. You think those companies are losing big time? Yet they are ready to waive their billions claims. Duterte is not perfect but I agree with him on this issue.  

Hindi nila sinasabi yong mga positive sides, puro negative lang na news ang binobroadcast ng mga media, palibhasa galit sila kay Duterte, let's remember na lahat ng ginagawa niya is for the benefit of normal people and hindi ng mga mayayaman na lalong pinapayaman ng mga naunang administration, we don't care about them, we are after the solution Duterte administration will do, just trust guys dahil gusto niya lahat para sa benefit ng lahat hindi ng mga mayayaman.

[blockman]

Ganyan talaga sa stock market kapag merong pangit na balita sa company tapos holder sila ng stocks nun, benta agad. Pero may magandang entry rin sila dyan kasi kapag bumaba bibili din yang mga yan agad agad. Katulad nalang ng nagkaroon ulit ng balita na hindi na nila sisingilin yung gobyerno ng P10B mahigit. Antayin natin pati yung stocks ng ABS-CBN before March baka bumagsak din. Hindi ako expert sa stocks pero parang crypto market din kapag may mga pangit na balita.

I am not trading outside crypto but it seemed like the same principle is use, there's also a panic because it's the president that is threatening the business of ayala and Pangilinan and these are their major businesses which are a billion dollar business so if something bad happens, other business might be affected as I believe these two tycons have ayala group of companies and pangilinan group of companies.

It looks like it's not wise to invest in philippine stock market at this time as the president might continue to look other businesses that he can stop when necessary.

Pangilinan at Ayala companies talaga ang involved. Matagal na pala yang pinaglalaban yan ng isang congresistang babae pero walang nakikinig sa kanya. Nung mag search ako, almost o more than 7 years na pala niyang inoopen yan sa senate pero walang pumapansin talaga sa kanya. Ngayon, nakahanap siya ng kakampi at yun ang pangulo. Halos parehas nga lang galaw at principle ang stocks at crypto pero mas mabagal sa stocks.

[carlisle1]

ano pang aasahan natin sa mga nag uuring Lahi?eh ang totoo sila sila din naman yang nag labas ng pera sa Stocks para lang ipakia na naapektuhan ang ekonomiya eh,pero ang totoo?pinapaikot lang nila ang mga tao pati ang marker dahil hindi nila makuha ang gusto nila sa Gobyerno ni Pangulong Duterte.
wala na silang magagawa dahil kapakanan lang natin ang iniisip ng ating butihing pangulo dahil napakatagal na tayong niloloko at ginagatasan ng mga negosyanteng yan,kaya nga nung panahon ni Marcos kinuha nya ang pamamahala sa mga negosyo nila dahil sa sobra nilang pagka gahaman,at ibinabalik lang ni Duterte ang mga hindi natapos at nagawa noon ng nakaraang pangulo.

[Darker45]

My thoughts on this.

[1] This is actually more of a local issue. This is an issue that directly affects the people within Metro Manila and some nearby towns and cities, not the entire archipelago. Sometimes, I ask myself why the news on our national televisions, radio stations, and newspapers are all about this issue when the rest of Philippines is not connected to it.

I beg to disagree, for water system it is for manila only but there's a bigger issue here which is the onerous contract.
This company is charging the government billions of money and with that, we are all involved as that money come from our taxes.

This involves the entire country in a sense because when it comes to public money it involves every single Filipino, even the unborn. But my point here is that your and my localities have their own water systems, contracts, prices, concessionaires, etc. We are not really involved in it. The onerous contract is the contract being entered into between MWSS and Manila Water and Maynilad. In which case, the issue is within their areas of operation which is Metro Manila and a few towns and cities outside. It does not involve the rest of Luzon, Visayas, and Mindanao. If the contract involved is with Dipolog City Water District, for example, the national media would certainly make little or no mention of it even if it also involves millions. Our national media has the penchant to focus only on the news within and the surroundings of NCR.

[2] The contracts of the two concessionaires involved were signed in 1997 and, because of the recent cancellation, will end on 2022. There is not much to improve here because they are close to their end. There were onerous provisions but these provisions have been in effect for more than 20 years already. What is the point of changing them today when it is only a few years time before the contract will expire?

They applied for extension I guess but that's not the thing here.
The Ayalas and Pangilinans were accused by Duterte of economic sabotage and they can't do this alone, so there will be more corrupt officials that will be expose here, with the investigation by the congress all the involved in this disadvantageous contract should answer to the government accordingly and they need to be in jail if proven committed a criminal offense against the government.

The extension application was already approved during the time of Gloria. The contract should have to carry on until 2037. Thanks to our gutsy president it was cancelled.

Everyone should rot in jail, all of them. But then I seriously doubt a single person will ever spend a single night in jail because of this.

[Bttzed03]

Well, this is not the first time it fell because of the Presidents's wrath against big companies. If I were an investor, I would have sold my shares immediately after finding out about the onerous contract.

I am just going to wait and see what's going to happen here. The water concessionaires have withdrawn their claim and would no longer ask for a price increase but the government is not willing to compromise at this point. The Department of Justice is on the move and many current/former politicians (including those allied with President Duterte) are probably having their "secret" meetings.

Notice how some of these politicians are starting to talk and express their "concern" about the cancellation of the water concessionaire's contract. I bet they are funded by the Ayalas and Pangilinans.


edit:
It looks like there is still hope for these concessionaires. The contract extension was too early, it should have been on 2022. If they can draft a new contract that isn't onerous, then they can still recover.

“That’s why we’re sitting down with them for now. We’re not rejecting the entire contract, just repudiating the onerous provisions,” he said.

[Clark05]

Selfish people and anti Duterte people will say the president is doing bad for our stock market and our economy in general. Actually our economy is performing well. Responsible investors have their own stop loss prices. Many are crying, whining and angry with our president because they lost big amounts. These selfish individuals are hindrance of our nation's progress. Even these water concessionaires are trying to reconcile with the president as they support him. You think those companies are losing big time? Yet they are ready to waive their billions claims. Duterte is not perfect but I agree with him on this issue.  

Hindi nila sinasabi yong mga positive sides, puro negative lang na news ang binobroadcast ng mga media, palibhasa galit sila kay Duterte, let's remember na lahat ng ginagawa niya is for the benefit of normal people and hindi ng mga mayayaman na lalong pinapayaman ng mga naunang administration, we don't care about them, we are after the solution Duterte administration will do, just trust guys dahil gusto niya lahat para sa benefit ng lahat hindi ng mga mayayaman.

May nakita pa ako sa TV gusto daw ni Pangulong Duterte na makulong yang mga bilyonaryo na yan kung tutuusin naman talaga maganda ang ginagawa niya dahil para sa mahirap din ito at tama yung mga naunang administration kaunti lang ang nagawa sa bansa natin yung iba parang walang pagbabago nangyari sa ating paligid pero dito sa administration na ito kitang kita naman pero hindi pa lahat .

[gunhell16]

Papaapi pa ba tayo? Oo nabasa ko ang karamihan na nag iigib dati.
Marami na silang napagawa tulad ng pagoapatubo ng linya.
Pero pwede ba tignan nyu bill nyu?
Kasi nakacharge satin lahat mg ginagawa nila at mga natatapong tubig!
Totoo po iyan. Ngayun nalang talaga tayo namumulat sa jatotohanang ginagago tayo.

[Palider]

Papaapi pa ba tayo? Oo nabasa ko ang karamihan na nag iigib dati.
Marami na silang napagawa tulad ng pagoapatubo ng linya.
Pero pwede ba tignan nyu bill nyu?
Kasi nakacharge satin lahat mg ginagawa nila at mga natatapong tubig!
Totoo po iyan. Ngayun nalang talaga tayo namumulat sa jatotohanang ginagago tayo.

Ang Hard pero totoo yan,  halos lahat ng mga projects nila na dapat sila ang mag popondo e sa atin kinakaltas kaya tayo ang mas naapektohan. Kaya tama lang ang ginawa ng ating Pangulo bakal na kamay at walang kinikilingan!!  Masaya ako dahil binoto ko ang prisedente dahil sakanya ko lang nakita at naramdaman ang tunay na pagbabago.

[bamboylee]

[1] This is actually more of a local issue. This is an issue that directly affects the people within Metro Manila and some nearby towns and cities, not the entire archipelago. Sometimes, I ask myself why the news on our national televisions, radio stations, and newspapers are all about this issue when the rest of Philippines is not connected to it.

I think PRRD already answered this in one of his speeches. It is not a local issue when it concerns the money of the whole country.

[2] The contracts of the two concessionaires involved were signed in 1997 and, because of the recent cancellation, will end on 2022. There is not much to improve here because they are close to their end. There were onerous provisions but these provisions have been in effect for more than 20 years already. What is the point of changing them today when it is only a few years time before the contract will expire?

The concern does not end in this contract alone. There are more and will be more contracts that the governments will make to private companies, PPP. If this goes unpunished, this onerous contract can repeat on other partnerships the governments will enter with private companies.

[blockman]

Papaapi pa ba tayo? Oo nabasa ko ang karamihan na nag iigib dati.
Marami na silang napagawa tulad ng pagoapatubo ng linya.
Pero pwede ba tignan nyu bill nyu?
Kasi nakacharge satin lahat mg ginagawa nila at mga natatapong tubig!
Totoo po iyan. Ngayun nalang talaga tayo namumulat sa jatotohanang ginagago tayo.

Ganito din sa kuryente, yung system loss sa mga consumers nila chinacharge na dapat hindi na shoulder ng mga tao yun. Pero sa mahabang panahon parang ginagatasan na nila at parang naging normal charge na yun. Sana maungkat din yung issue tungkol dyan kasi related din yan sa mga Pangilinan, bagsak din stocks niyan pag nagkataon.