Phinma exits energy business: WHAT’S NEXT?

THE Phinma group signed an investment agreement to sell its stake in the energy sector to AC Energy, Inc., marking the former’s departure from power generation and retail electricity and the Ayala-led company’s growing prominence in the said businesses. “AC Energy, Phinma Corporation (PHN), Philippine Investment Management (Phinma), Inc. (PHI), signed the Investment Agreement on February 8, 2019 for AC Energy’s acquisition of PHN and PHI’s combined 51.48% stake in (Phinma Energy Corp.) via a secondary share sale for approximately P3.42 billion, based on the valuation date of December 31, 2018 and subject to adjustments,” Ayala Corp. said in a disclosure on Monday. READ MORE

The company Valuation at the moment is very high and FINWAZE will continue to wait for a better valuation before we engage this company for a Buy

VALUATION

TECHNICAL CHART – FLAT

KEY TAKEAWAYS

  • Downward pressure still continues
  • Valuation is high even though the dividends looks okay for this year @ 0.40
  • The price should hit the support at the end of this year before we will pick up this stock
  • Change of business model will be costly and it will take time for the company to be revived
  • 5 Years the price appreciation is flat; if the price breaks the Trend line we will take action

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Article by: Ashok – Strategic Financial Coach

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