Académique Documents
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Note: To understand the Stocks Update, first read Bos Ebook, My Maid Invests in the Stock Market.
Click here www.TrulyRichClub.com to download now.
May 2015
Volume 6, No. 9
Stocks Update
Page 1 of 9
GTCAP
Last April 22, 2015, our stock market mentor advised us to Buy GTCAP under its Buy-Below Price of P1176.
He said that we (COL) have always liked the group. However, he never had the chance to recommend it due to its
overbought conditions in the past. However, he feels that if it goes below P1176, it may be good to start buying
and accumulating this great company.
With that advise, GTCAP is our new kid on the block. GTCAP is our new SAM Stock. Thus, in this issue, Id like
to give you a more extensive overview of the company and the various businesses it is involved in. This should give
you a good idea how big and how good this company is, enabling you to know what youre getting yourself into
when you start buying GTCAP.
GT Capital Holdings or GTCAP is a major Philippine conglomerate with involvements in the banking, real
estate development, power generation, automotive, and life insurance industries. GTCAP is the holding and
management company of the diversified businesses of the Ty family in the Philippines.
Under its belt are Metrobank, Toyota Philippines, Global Business Power Corporation, Federal Land, AXA
Philippines, Philcharter (non-life insurance), and Toyota Manila Bay (auto distribution).
In their effort to combine local talent and expertise with the technology and resources of its leading global
business partners, GTCAP has forged strong ties with leading global players: Orix, ANZ, Formosa Heavy Industries
Corporation, Mitsui & Co., LTD., Grand Hyatt, Meralco MGEN Power Generation, Sumitomo Corporation, and Marco
Polo Hotels.
Currently, the company posted P2.8 billion in profits during the final quarter of 2014. This is 195 percent
compared to the same period in 2013. They were able to do this powered by the strong performance of its
subsidiaries, specifically Toyota Motor Philippines. For the whole of 2014, its net income reached P9.15 billion. This
is six percent higher from 2013.
Toyotas 4th quarter profit was P2.35 billion, a 131 percent increase compared to the same period in 2013.
For 2014 as a whole, its net income totaled to P7.21 billion. This is a 72 percent increase from 2013 caused by a
40 percent spike in unit sales and 30 percent rise in revenues. Toyota Motor Philippines strong volume growth
continues to beat the automotive industrys growth of 27 percent. This caused the increase of its market share
from 36.3 percent in 2013 to 39.4 percent in 2014. According to the company, the improvement in sales was driven
by the launch of new models during the past two years along with aggressive sales and promotions and the
expanded dealership network.
TMPs gross profit margin also rose form 12 percent to 14 percent while net profit margins increased from 5.2
percent to 6.9 percent. Such improvements came from cost efficiencies and the depreciating Yen.
We like GTCAP given its attractive portfolio of companies belonging to industries benefitting from rapid
economic growth such as banking, automotive, real estate development, power generation, and insurance.
Now, thats the new one. Now we go to one of our old SAM Stocks and check out how it is currently doing.
CEB
During the 4th quarter of 2014, CEBs earnings rebounded from a 3rd quarter loss of P15 million. This rebound
was caused by another rebound in its operations with core net income going as high as P866 million. This is close
to five times the net income of the 4th quarter of 2013 of P175 million. Earnings were brought higher by strong
revenues, which increased by 27 percent and tempered operating expenses, which went up by a slower rate of 24
percent.
Stocks Update
Volume 6, No. 9
May 2015
Page 2 of 9
However, if you take into consideration non-core line items, 4th quarter 2014 net loss was at P1.2 billion,
significantly more than the same period during 2013 with P152 million. Hedging losses that amounted to P2.2
billion dragged down the net income for the quarter.
The recent decline in oil prices proved to be good for the airline, as the 4th quarter earnings before interest,
taxes, depreciation, and amortization (EBITDA) doubled to P2.4 billion compared to the same period in 2013.
Furthermore, operating expenses were tempered because of the slowdown in the increase in flying operations, as
oil prices declined by 25 percent.
Despite the poor headline net income for 2014, we continue to like CEB fundamentally with the belief that
the carrier is a major beneficiary of the advantages of industry consolidation and lower oil prices. For 2015, it is
foreseen that EBITDA margin will further improve in the event of additional decline in oil prices.
We will continue checking up the earnings and performance of our other SAM stocks in the next issues of our
Stocks Update. Stay updated in the companies you are investing in.
Happy informed investing!
P.S. If you would like to hear me live, I conduct free seminars every Friday at the COL Financial Training Center
teaching the basics of long-term investing in the stock market. You may sign-up for these seminars at www.
colfinancial.com.
I also give inspirational talks on various relevant and engaging topics every Sunday, 9:45AM at Feast ATC in
Cinema 2 of Alabang Town Center. Come by and be blessed. Its for free too!
Current Price
Target Price
AC
805.00
762.61
877.00
AP
42.00
41.39
47.60
SELL
CEB
84.30
124.80
156.00
Continue buying
EEI
10.28
11.91
13.70
FGEN
27.55
32.43
36.00
Continue buying
GTCAP
1293.00
1176.00
1470.00
LRI
10.18
13.78
15.85
MBT
93.00
109.00
MEG
5.41
5.10
5.86
MER
265.00
308.70
355.00
Continue buying
SMPH
19.64
20.52
23.60
Continue buying
Stocks Update
94.78
Volume 6, No. 9
May 2015
Action to Take
Page 3 of 9
STOCK
SYMBOL
DATE
BOUGHT
PRICE
BOUGHT
PRICE
TODAY
ESTIMATED
RETURN
BUY BELOW
PRICE
TARGET
PRICE
EXPECTED
GROWTH
AC
Jul-13
603.50
805.00
33.39%
654.80
753.00
24.77%
Aug-13
598.50
805.00
34.50%
602.40
753.00
25.81%
Sep-13
580.00
805.00
38.79%
602.40
753.00
29.83%
Oct-13
601.50
805.00
33.83%
602.40
753.00
25.19%
Nov-13
569.50
805.00
41.35%
602.40
753.00
32.22%
Dec-13
555.00
805.00
45.05%
602.40
753.00
35.68%
Jan-14
525.00
805.00
53.33%
599.13
689.00
31.24%
Feb-14
538.50
805.00
49.49%
599.13
689.00
27.95%
Mar-14
574.00
805.00
40.24%
599.13
689.00
20.03%
Apr-14
590.00
805.00
36.44%
599.13
689.00
16.78%
Aug-14
704.00
805.00
14.35%
709.00
816.00
15.91%
Oct-14
688.00
805.00
17.01%
709.00
816.00
18.60%
Nov-14
690.00
805.00
16.67%
709.00
816.00
18.26%
Dec-14
689.00
805.00
16.84%
709.00
816.00
18.43%
Feb-15
730.00
805.00
10.27%
743.48
855.00
17.12%
Mar-15
732.00
805.00
9.97%
743.48
855.00
16.80%
Apr-15
800.00
805.00
0.63%
762.61
877.00
9.63%
TOTAL
28.95%
CEB
Nov-14
76.70
84.30
9.91%
78.26
90.00
17.34%
Dec-14
85.00
84.30
-0.82%
130.43
150.00
76.47%
Jan-15
94.70
84.30
-10.98%
124.80
156.00
64.73%
Feb-15
92.30
84.30
-8.67%
124.80
156.00
69.01%
Mar-15
88.50
84.30
-4.75%
124.80
156.00
76.27%
Apr-15
84.40
84.30
-0.12%
124.80
156.00
84.83%
May-15
84.30
84.30
0.00%
124.80
156.00
85.05%
TOTAL
-2.20%
EEI
Oct-13
9.57
10.28
7.42%
10.40
13.00
35.84%
Nov-13
9.88
10.28
4.05%
10.40
13.00
31.58%
Dec-13
9.70
10.28
5.98%
10.40
13.00
34.02%
Jan-14
10.04
10.28
2.39%
11.04
12.70
26.49%
Feb-14
10.00
10.28
2.80%
11.04
12.70
27.00%
Mar-14
11.00
10.28
-6.55%
11.04
12.70
15.45%
Jun-14
10.62
10.28
-3.20%
11.04
12.70
19.59%
Jul-14
11.00
10.28
-6.55%
11.30
13.00
18.18%
Aug-14
11.24
10.28
-8.54%
11.30
13.00
15.66%
Oct-14
11.10
10.28
-7.39%
11.30
13.00
17.12%
Nov-14
11.18
10.28
-8.05%
11.30
13.00
16.28%
Dec-14
10.70
10.28
-3.93%
11.91
13.70
28.04%
Jan-15
10.80
10.28
-4.81%
11.91
13.70
26.85%
Feb-15
10.88
10.28
-5.51%
11.91
13.70
25.92%
TOTAL
-2.28%
Legend:
n Continue Buying
Stocks Update
Volume 6, No. 9
n Stop Buying
May 2015
Page 4 of 9
STOCK
SYMBOL
DATE
BOUGHT
PRICE
BOUGHT
PRICE
TODAY
ESTIMATED
RETURN
BUY BELOW
PRICE
TARGET
PRICE
EXPECTED
GROWTH
FGEN
Feb-15
29.00
27.55
-5.00%
32.43
37.30
28.62%
Mar-15
30.50
27.55
-9.67%
32.43
37.30
22.30%
Apr-15
29.40
27.55
-6.29%
31.30
36.00
22.45%
May-15
27.55
27.55
0.00%
31.30
36.00
30.67%
TOTAL
-5.24%
LRI
Jun-13
11.50
10.18
-11.48%
12.68
15.85
37.83%
Jul-13
11.00
10.18
-7.45%
12.68
15.85
44.09%
Aug-13
10.50
10.18
-3.05%
12.68
15.85
50.95%
Sep-13
9.72
10.18
4.73%
12.68
15.85
63.07%
Oct-13
9.10
10.18
11.87%
12.68
15.85
74.18%
Nov-13
9.25
10.18
10.05%
12.68
15.85
71.35%
Dec-13
8.82
10.18
15.42%
12.68
15.85
79.71%
Jan-14
8.71
10.18
16.88%
13.78
15.85
81.97%
Feb-14
9.00
10.18
13.11%
13.78
15.85
76.11%
Mar-14
8.99
10.18
13.24%
13.78
15.85
76.31%
Apr-14
9.24
10.18
10.17%
13.78
15.85
71.54%
May-14
9.97
10.18
2.11%
13.78
15.85
58.98%
Jun-14
9.59
10.18
6.15%
13.78
15.85
65.28%
Jul-14
9.95
10.18
2.31%
13.78
15.85
59.30%
Aug-14
9.85
10.18
3.35%
13.78
15.85
60.91%
Sep-14
9.87
10.18
3.14%
13.78
15.85
60.59%
Oct-14
9.49
10.18
7.27%
13.78
15.85
67.02%
Nov-14
9.50
10.18
7.16%
13.78
15.85
66.84%
Dec-14
9.40
10.18
8.30%
13.78
15.85
68.62%
Jan-15
10.04
10.18
1.39%
13.78
15.85
57.87%
Feb-15
10.20
10.18
-0.20%
13.78
15.85
55.39%
TOTAL
5.45%
Legend:
n Continue Buying
Stocks Update
Volume 6, No. 9
n Stop Buying
May 2015
Page 5 of 9
STOCK
SYMBOL
DATE
BOUGHT
PRICE
BOUGHT
PRICE
TODAY
ESTIMATED
RETURN
BUY BELOW
PRICE
TARGET
PRICE
EXPECTED
GROWTH
MBT
Jun-11
50.06
93.00
85.76%
78.88
93.60
86.96%
Jul-11
55.69
93.00
67.01%
78.88
93.60
68.09%
Aug-11
52.85
93.00
75.97%
78.88
93.60
77.11%
Sep-11
50.40
93.00
84.52%
78.88
93.60
85.71%
Oct-11
48.34
93.00
92.41%
78.88
93.60
93.65%
Nov-11
50.33
93.00
84.78%
78.88
93.60
85.97%
Dec-11
47.60
93.00
95.38%
78.88
93.60
96.64%
Jan-12
49.42
93.00
88.18%
83.07
108.00
118.54%
Feb-12
55.23
93.00
68.39%
83.07
108.00
95.55%
Mar-12
61.60
93.00
50.97%
93.91
108.00
75.32%
Apr-12
60.20
93.00
54.49%
93.91
108.00
79.40%
May-12
62.13
93.00
49.70%
93.91
108.00
73.84%
Jun-12
60.55
93.00
53.59%
93.91
108.00
78.36%
Sep-12
65.38
93.00
42.25%
93.91
108.00
65.19%
Oct-12
65.10
93.00
42.86%
104.35
120.00
84.33%
Nov-12
67.24
93.00
38.32%
104.35
120.00
78.48%
Jan-13
72.38
93.00
28.49%
113.04
130.00
79.61%
Feb-13
78.75
93.00
18.10%
129.57
149.00
89.21%
Mar-13
81.90
93.00
13.55%
129.57
149.00
81.93%
Apr-13
82.81
93.00
12.31%
129.57
149.00
79.93%
Jun-13
84.70
93.00
9.80%
129.57
149.00
75.91%
Jul-13
78.89
93.00
17.89%
129.57
149.00
88.87%
Aug-13
77.00
93.00
20.78%
119.20
149.00
93.51%
Sep-13
84.65
93.00
9.86%
91.68
114.60
35.38%
Oct-13
86.95
93.00
6.96%
91.68
114.60
31.80%
Nov-13
80.55
93.00
15.46%
91.68
114.60
42.27%
Dec-13
73.20
93.00
27.05%
91.68
114.60
56.56%
Jan-14
73.75
93.00
26.10%
86.96
100.00
35.59%
Feb-14
79.55
93.00
16.91%
86.96
100.00
25.71%
Mar-14
81.40
93.00
14.25%
86.96
100.00
22.85%
Apr-14
79.70
93.00
16.69%
86.00
100.00
25.47%
May-14
83.50
93.00
11.38%
86.00
100.00
19.76%
Jun-14
85.15
93.00
9.22%
86.00
100.00
17.44%
Aug-14
85.75
93.00
8.45%
96.50
111.00
29.45%
Sep-14
88.00
93.00
5.68%
96.50
111.00
26.14%
Oct-14
83.65
93.00
11.18%
96.50
111.00
32.70%
Nov-14
82.50
93.00
12.73%
96.50
111.00
34.55%
Dec-14
82.95
93.00
12.12%
92.17
106.00
27.79%
Jan-15
88.00
93.00
5.68%
92.17
106.00
20.45%
Feb-15
94.75
93.00
-1.85%
97.39
112.00
18.21%
TOTAL
35.08%
Legend:
n Continue Buying
Stocks Update
Volume 6, No. 9
n Stop Buying
May 2015
Page 6 of 9
STOCK
SYMBOL
DATE
BOUGHT
PRICE
BOUGHT
PRICE
TODAY
ESTIMATED
RETURN
BUY BELOW
PRICE
TARGET
PRICE
EXPECTED
GROWTH
MEG
May-13
4.23
5.41
27.90%
4.16
4.78
13.00%
Jun-13
3.67
5.41
47.41%
4.16
4.78
30.25%
Jul-13
3.15
5.41
71.75%
4.16
4.78
51.75%
Aug-13
3.40
5.41
59.12%
3.89
4.87
43.24%
Sep-13
3.21
5.41
68.54%
3.89
4.87
51.71%
Oct-13
3.64
5.41
48.63%
3.89
4.87
33.79%
Nov-13
3.58
5.41
51.12%
3.89
4.87
36.03%
Dec-13
3.23
5.41
67.49%
3.89
4.87
50.77%
Jan-14
3.36
5.41
61.01%
3.95
4.54
35.12%
Feb-14
3.78
5.41
43.12%
4.70
5.48
44.97%
Apr-14
4.43
5.41
22.12%
4.70
5.48
23.70%
May-14
4.65
5.41
16.34%
4.70
5.48
17.85%
Jun-14
4.51
5.41
19.96%
4.70
5.48
21.51%
Jul-14
4.47
5.41
21.03%
4.70
5.48
22.60%
Aug-14
4.26
5.41
27.00%
4.58
5.73
34.51%
Sep-14
4.30
5.41
25.81%
4.98
5.73
33.26%
Feb-15
5.09
5.41
6.29%
5.10
5.86
15.13%
TOTAL
40.27%
MER
Sep-14
258.00
265.00
2.71%
284.00
355.00
37.60%
Oct-14
260.00
265.00
1.92%
284.00
355.00
36.54%
Nov-14
262.00
265.00
1.15%
284.00
355.00
35.50%
Dec-14
261.80
265.00
1.22%
308.70
355.00
35.60%
Jan-15
261.80
265.00
1.22%
308.70
355.00
35.60%
Feb-15
271.40
265.00
-2.36%
308.70
355.00
30.80%
Mar-15
275.00
265.00
-3.64%
308.70
355.00
29.09%
Apr-15
263.80
265.00
0.45%
308.70
355.00
34.57%
May-15
265.00
265.00
0.00%
308.70
355.00
33.96%
TOTAL
0.30%
Legend:
n Continue Buying
Stocks Update
Volume 6, No. 9
n Stop Buying
May 2015
Page 7 of 9
STOCK
SYMBOL
DATE
BOUGHT
PRICE
BOUGHT
PRICE
TODAY
ESTIMATED
RETURN
BUY BELOW
PRICE
TARGET
PRICE
EXPECTED
GROWTH
SMPH
Oct-13
16.90
19.64
16.21%
17.20
21.50
27.22%
Nov-13
16.40
19.64
19.76%
17.20
21.50
31.10%
Dec-13
15.10
19.64
30.07%
17.20
21.50
42.38%
Jan-14
14.68
19.64
33.79%
16.73
19.41
32.22%
Feb-14
14.70
19.64
33.61%
16.73
19.41
32.04%
Mar-14
14.90
19.64
31.81%
16.73
19.41
30.27%
Apr-14
14.90
19.64
31.81%
16.80
19.41
30.27%
May-14
16.34
19.64
20.20%
16.80
19.41
18.79%
Jun-14
16.18
19.64
21.38%
16.80
19.41
19.96%
Jul-14
16.52
19.64
18.89%
16.80
19.41
17.49%
Aug-14
15.40
19.64
27.53%
17.60
20.30
31.82%
Sep-14
16.64
19.64
18.03%
17.60
20.30
22.00%
Oct-14
16.50
19.64
19.03%
17.60
20.30
23.03%
Nov-14
17.48
19.64
12.36%
17.60
20.30
16.13%
Dec-14
16.98
19.64
15.67%
17.60
20.30
19.55%
Jan-15
17.44
19.64
12.61%
17.60
20.30
16.40%
Feb-15
18.92
19.64
3.81%
20.52
23.60
24.74%
Mar-15
19.66
19.64
-0.10%
20.52
23.60
20.04%
Apr-15
20.45
19.64
-3.96%
20.52
23.60
15.40%
May-15
19.64
19.64
0.00%
20.52
23.60
20.16%
TOTAL
19.08%
Legend:
n Continue Buying
n Stop Buying
Mike Vias is an Investment Trainer of COL Financial Group, Inc. He is a Certified Securities Representative
and Certified Investment Solicitor.
Stocks Update
Volume 6, No. 9
May 2015
Page 8 of 9
STOCK
SYMBOL
TIME
RECOMMENDED
ESTIMATED
TIME
HELD
PRICE
RANGE
ESTIMATED
RETURN
D&L Industries
DNL
14 Months
P6.45 to P10.00
44%
PLDT
TEL
10 Months
P2902.00 to P3260.00
16%
Banco De Oro
BDO
16 Months
P89.60 to P93.00
24%
STOCK
SYMBOL
TIME
RECOMMENDED
ESTIMATED
TIME HELD
PRICE
RANGE
ESTIMATED
RETURN
Ayala Land
ALI
9 Months
P15.09 to P21.65
35%
Nickel Asia
NIKL
2 Months
P23.75 to P26.20
10.32%
Bank of The
Philippine Islands
BPI
10 Months
P68.45 to P91.00
34.29%
Ayala Corporation
AC
2 Months
P440.00 to P520.00
17.65%
SM Prime Holdings
SMPH
10 Months
P12.48 to P17.00
27.75%
Alliance Global
AGI
1 Month
P17.54 to P20.50
16.88%
Meralco
MER
3 Months
P268.00 to P377.00
28.05%
First Phlippine
Holdings
FPH
25 Months
P63.18 to P95.20
32.92%%
JG Summit Holdings
JGS
18 Months
P25.75 to P43.50
39.96%
D&L Industries
DNL
14 Months
P6.45 to P10.00
44%
PLDT
TEL
10 Months
P2902.00 to
P3260.00
16%
Banco De Oro
BDO
16 Months
P89.60 to P93.00
24%
(Disclaimer: Past performance doesnt guarantee that youll have the exact same results in the future. After all, your
earnings all depend on the markets performance.)
Stocks Update
Volume 6, No. 9
May 2015
Page 9 of 9