Market Event
Acting NEDA Sec. Karl Chua urged Pres. Duterte to ease quarantine measures further to the less stringent MGCQ by March.
Opinion
Under MGCQ, the following industries, among others, will be allowed to operate at 50% capacity: hotels and MICE facilities (provided approved to operate by the DoT), entertainment industries (cinemas, theaters, etc.), tourist destinations, and casinos.
If approved by the President, this will allow for faster recovery of the property sector as foot traffic in malls and hotels begin to normalize, while BLOOM (Target Price: P8.90 per share) and PLC should benefit from the higher casino operating capacity, currently at 30%.
