China Bank Capital Corp. managing director Juan Paolo Colet said the POGO ban would not have a significant adverse effect on the overall stock market, noting that its near-term impact will be most felt in the property sector.
"It's important to remember that all the major real estate players have already limited their exposure to POGOS, so any loss in lease income should not materially affect their earnings outlook or long-term prospects," Colet said.
COL Financial indicated that while some listed companies still have POGO operations, their exposure to POGOS has significantly decreased since its peak in 2019.
According to COL Financial, the direct impact of the POGO ban on listed companies is limited.
COL Financial said the direct impact on listed companies is now minimal compared to 2019 when the exposure of Megaworld Corp reached 10 percent and Filinvest Land Inc. stood at 15 percent.
Further, it said property companies' current valuations suggest any downside reaction would be limited.
This story is from the July 24, 2024 edition of The Philippine Star.
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This story is from the July 24, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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