Investors over the next two quarters are likely to then turn their attention to the process and timing of Charter change to create a parliamentary form of government. |
On a net basis, it is still quite positive. |
The risk is that the baht depreciates because capital flows to Thailand may slow, particularly to the stock market. We're having a problem related to how elections are going to pan out. |
We believe allocated subsidies for the power generation sector may be fully utilized by the end of the second half. |
We foresee limited political risks over the next six to nine months and remain bullish on the Philippines. |
We maintain our constructive stance on Philippine long-term foreign currency bonds and dollar-peso forecast of 50 by year-end. |