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AlexHK

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About AlexHK

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  1. > Unless rents drop, banks in PHL may want to find a cheaper way to attract deposits, like paying online depositors a higher interest rate. Yes, and it started already. ING Philippines & Octo (CIMB) currently offer around 4% to their online depositors, and a third one (Singapore-based Tonik) should start business in Philippines soon. I use ING for few months already and I find it very convenient. 4% is the current promotion, it should be lowered to 2.5% few months from now but it is still very competitive and more flexible than time deposits. I wonder what is the size of the deposits they were already able to attract? It is probably only a small share of the market but it will grow in the coming years. I agree with you Dr Bubb, bricks & mortar branches are not the future. The young generation prefers digital wallets and online deposits.
  2. I did not know about this rule for person over 60 y.o. ! Did you try to order from FoodPanda? Below is an email I received from them. If you wish to order from them but have difficulties email me directly so I can order for you and have it delivered directly to your place. Their website is here : https://www.foodpanda.ph/ As clarified by the leadership of the Department of Trade and Industry, foodpanda is allowed to operate along with other food services platforms as providers of basic necessities. In light of this recent mandate, we would like to reassure you that foodpanda continues to operate as usual with free delivery on every order. We value the safety of everyone in our community, and have introduced new measures to ensure you feel secure while using our service. We're in constant communication with our restaurant partners over the latest World Health Organization notices, advising them on the health and safety practices that go beyond our already high food hygiene expectations. We also encourage you to switch to online payment. That way, we can easily keep unnecessary human interactions to a minimum. Our commitment remains with supporting all our riders, restaurant partners and valued customers as we go through this tough time together as a nation. Rest assured we will keep you updated with any further developments. Stay safe. Your foodpanda team
  3. Hi Dr Bubb, Here around RCBC both Rustan's (Alphaland & Three Central) are open. Choice is limited, some shelves are empty, but they said that they will refill regularly. I just received an email from Pandafood saying they are authorized to deliver food in Makati during lockout so you can order anything you want from the restaurants around your place (they are closed for dine-in but lots of them are selling for pick-up & deliveries). And it's also a way to support our local restaurants during this crisis. This morning Shoppy delivered to my condo some vitamins I ordered online few days ago. Shoppy is also a way to get what you need. Today is only the first day so it's still a bit chaotic. It will probably improve in the next few days. Keep in touch
  4. And GDX closed with +18.3% ! According to ETF Trends, the extreme volatility in levered ETFs and their need to re-balance may have created a disconnect among gold mining stocks' valuation vs. their fundamentals, possibly causing yesterday's outperformance.
  5. Yes we are in Makati. Duterte declared lockdown of Metro Manila and (just now) a curfew from 8 p.m. to 5 a.m. But still we prefer to be in Makati rather than blocked in the province. We still have access to the airport (international flights only) but to go where anyway... ?
  6. Same here Dr Bubb. I could not believe last night how low GDX was. I could only find temporary technical reasons (Friday night margin calls & panic) to explain such move so I bought during the last hour at 19.92USD With interest rates going towards zero or even negative & gold being a tangible safe haven I expect gold to go up within few weeks or months then remain at high levels. With higher gold prices and lower oil prices, which make up significant portion of a miner's costs, how could the value of Gold mining companies not appreciate sharply in the future?
  7. Further to the current oil crisis, maybe this is time to revive the “value in Energy stocks” thread. For the past months I was following the valuation of some major Oil companies and most part of them looked already very attractive. After the new fall of oil today (nearly -30%) we can expect these oil companies to become even cheaper soon, and I start to wonder if this level of oil price is sustainable for these companies? Sooner or later oil prices will go up again and I do not mind waiting as I am a LT investor, but can these companies survive if oil prices remain at current levels for a long time or go even lower? I am thinking at companies such as Royal Dutch (RDS-A), Chevron (CVX), BP (BP Plc), Occidental Petroleum (OXY), Exxon (XOM). They are paying high and regular dividends to shareholders for decades and the next few weeks shares prices could be an historical entry point for LT investors. Do you share my view or am I missing something?
  8. Strange type of blue color for Air Residences, and the parts colored in blue seems different compared to the photos on brochure ?
  9. I would still take side with USD vs EUR in 2019. Raising interest rates in US together with the end of QE in the Euro Zone could boost USD even higher. But USD could go down vs AUD for instance.
  10. Hi Dr Bubb, Sorry for this very late reply. You are probably correct about a possible jump of rent prices. Regarding Skyland Plaza it's hard to say where the market is right now because there are no transactions. What is sure is the demand is very high (even for parking slots) but totally dependent on POGOs
  11. Hi ECB, I own a unit in Megaworld One Central and I think your estimate of second hand prices for this building is accurate. I would say around PHP150k per sqm. The adv you mentioned at 125k per sqm does not seem realistic. One unit was offered for sale recently slightly below 140k per sqm but this unit has a problem (unit k on low floor facing a wall) so it’s not really representative of the market. One Central is now fully occupied. Majority of occupants are now Chinese & Korean. But despite the demand I agree with you, prices are not going up much. Nearby in what Dr Bubb calls "little china" (San Antonio) it's a total different story. Demand there is extremely high and prices are going up accordingly.
  12. I fully agree. And on secondary market what you see is what you get, and you can start generating income immediately.
  13. I really enjoyed reading this conversation. It reminds me the showrooms in Makati I visited few years ago. I stopped visiting them once I decided to focus on the secondary market, and probably also because I am not as patient as you DrBubb. A sentence like “Prices always go up” would be final for me Majority of property agents here in Philippines are not trained to handle investors, or let’s say not trained to handle investors with financial & local knowledge. They are selling dreams, and several times I felt like being a joy killer with my questions about rental yield and contractual issues. On top of that, info you get in showrooms can be misleading. Materials, settings, windows etc... presented in the showroom are only a possibility of what you might get, but without any guarantee. Completion date is also purely indicative. When you leave the showroom you do not know exactly what you will get and when you’ll get it. You just know how much you’re going to pay ! In the case of this 26sqm unit for 7.2M I calculated that I could expect a rental yield of 3.4% net before taxation (considering P2600 mngt fees per month and P15,000 property tax and P26,000 property agent commission per year), and this is assuming that the unit is rented unfurnished since day 1. This is low, and how long will I need to wait to be able to get back 7.2M net for this 26sqm unit on the secondary market after CGT & agent commission?
  14. Interesting point Euro Chocozone. I agree with most part of what you wrote. Again, my post about Time Deposits generating 5% tax-free was not necessarily an invitation to invest in them, but a reminder for people ready to purchase properties on primary market with rental yield below 5% net. Living in Philippines for about 10 years I am always amazed by people here investing in real estates with the glossy brochure of the developer & developer’s agent fairy tale as only reference. Regarding your point 3 “property bought at market prices can offer some (- and better -) protection in case of a complete collapse of trust in the currency”, I agree with you for property owners who can hold their properties and wait a few years, because in a collapse situation you can also expect property prices to first fall sharply. Even during “good times” you have a lot of weak hands in Philippines. Local owners who need to sell urgently for personal reasons, and foreign owners leaving the country with the need to liquidate their local assets before leaving. And in a secondary market not very liquid it’s not a good thing to be in a rush. So in case of serious crisis I expect to see a lot of panic sellers, and this could be the best time for cash buyers to purchase well located properties.
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