Good morning! President Marcos says don’t panic as the peso hits a record low of ₱64.18 against the dollar. Meanwhile, the BSP raises interest rates to fight inflation, Meralco eyes record profits, and Philippine stocks slide. Plus, three major companies could soon go public. Here’s what you need to know.

Stay Sharp.

What happened: Meralco expects a record ₱56.6 billion in core profit for 2026, nearly 12% higher than last year. Its nine-month net income reached ₱44.83 billion, up 12%.

Zoom in: Electricity distribution contributed ₱20.1 billion, while power generation added ₱18.2 billion. Warmer weather and 8.4 million customers boosted demand. Its expanding solar business also supported growth.

Why it matters: Meralco is earning more beyond electricity distribution. Its MTerra Solar project began operations in August, initially supplying 600 megawatts.

What’s next: El Niño could further increase cooling demand. However, a weaker peso and higher imported fuel costs could pressure profits. Meralco is also investing in renewable energy, battery storage and grid modernization.

Philippine shares fell as the peso’s continued depreciation weakened investor appetite. The benchmark Philippine Stock Exchange index dropped 1.71%, or 101.62 points, to close at 5,828.06, while the broader all-shares index declined 1.23% to 3,548.90. Investors remained concerned about the economic effects of a weaker currency and uncertainty over government spending.

MVP Eyes Three Potential IPOs in 2027

Business tycoon Manuel V. Pangilinan is considering 2027 stock market listings for digital finance firm Maya, data center landlord VITRO REIT, and hospital operator Metro Pacific Health. VITRO REIT could launch in the first quarter after postponing its planned ₱24.2-billion offering. Pangilinan also wants Maya listed locally, citing demand demonstrated by GCash parent Mynt’s ₱60.9-billion IPO.

Marcos Urges Calm Despite Peso Hits Record Low

President Ferdinand Marcos Jr. urged Filipinos not to panic as the peso continued its historic decline against the US dollar. The currency touched ₱64.18 intraday on October 28, according to ABS-CBN News. Its depreciation raises the cost of imported fuel and other dollar-priced goods, potentially adding pressure to inflation and household budgets.

ANFLOCOR Boosts Mindanao’s Trade Links

ANFLOCOR Group is expanding industrial and logistics infrastructure in Panabo City, Davao del Norte, to strengthen Mindanao’s access to domestic and international markets. Anflo Industrial Estate and its locators have attracted an estimated ₱8.5 billion in investments. Davao Region’s external trade reached $1.98 billion in the fourth quarter of 2025, up 19.18% year on year.

LANY’s Davao stop for its “Soft” world tour has been cancelled, ABS-CBN reported October 28. The accessible announcement did not specify the reason for cancellation or further details. (Read more)

Kailey Rose Kemp Wins Miss FIT Philippines

Kailey Rose Kemp of Santa Rosa, Laguna, won Miss FIT Philippines 2026 at SM Skydome in Quezon City on October 27, defeating 20 contestants to claim the crown. (Read More)

Alex Eala Storms Into Pan Pacific Open Quarterfinals

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What happened: The Bangko Sentral ng Pilipinas raised its policy rate by 50 basis points to 5.5%, its fourth hike this year and double the 25bp move expected by AB Capital and consensus. 

Why it matters: The BSP kept its 2026 inflation forecast at 6.1% but raised its 2027 estimate to 6.0% from 5.4%. Higher oil prices, transport fares and weather disruptions are adding pressure, with headline inflation seen peaking near 8% in 2027. 

What's next: AB Capital expects another 25bp hike on December 17, taking the rate to 5.75%, and sees 6.25% as its base case for the first half of 2027. Higher rates could weigh on borrowing, investment and consumer spending overall..

In collaboration with AB Capital Securities. This section is for informational purposes only and does not constitute investment advice. Please conduct your own research or consult a licensed professional before making investment decisions.

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