Dear Subscriber, Good day, After the PSE went as low as 7100 it made a bounce until 7500 levels. hopefully, it is not a cat bounce and we hope you have made this situation a buying opportunity rather than hitting the panic button. Now among all the global tension from the tension like the American-Iran pre-war, pres. Trump's impeachment failure and other global topics, definitely the N. Corona Virus has been sensationalized to hit the global panic to the point of xenophobia particular toward everything Chinese. This sensationalized global fear has been used to the point of pushing the global agenda. Fortunately, experts have estimated that the N.coronavirus / flu will decrease around March - April after the flu season is over. at present, what are the topics affecting our local sentiments: 1. BSP cut 25 bases points on the key interest rate due to stable inflation rates hence pushing the financial sector a downtrend in the short run. 2. The stable inflation rate was peg at 2.9% last January 2020 3. BSP estimated that the effects of the N. coronavirus will affect Q1 and Q2 National GDP by 0.3%. These are based on our investment stake with CHINA. 4. China hinting to stop Banana exportation from the Philippines until the N.Coronavirus has stabilized. 5. House Speaker Cayetano has endorsed the CITIRA law passage in the senate. This is good news and pro-business policy 6. The president with support from the defense secretary is already in the process of stopping the Visiting Forces Agreement between America-Philippines. Govt reiterated that the agreement is useless, senseless, and one-sided. Re: MWC - presently the Ayala's have sold 28% of their shares to ICT's Razon nad possible controlling stakes. - Razon will release a tender offer than @ probably 13 pesos/share for compliance purposes. - We believe that the Ayalas predicted that the negotiations for the new concession contract will be much smoother with Razon as another point person. Since Razon has been known to be the master of govt regulation compliance. - Since MWC has been targeting Vietnam water concession, they believe that Mr. Razon is well verse even in international government regulation as what he did with ICT at the international level. - Changing point person might diffuse President Duterte's anger towards MWC. -we believe there is still a lot of potential for MWC yet the fundamentals are totally changed and altered.