Cemex Philippines (CHP) decline in Net Sales

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Cemex Philippines is one of the biggest manufacturers of building materials in the Philippines for years. 

Cemex Holdings Philippines, Inc. (CHP), was incorporated on September 17, 2015 as a stock corporation in the Philippines. Primarily they are into real estate, construction materials, and cement.

As of October 30, the company best bid price is Php 1.57 per share. 

But what happened to Cemex Holdings?

Four years back the value per share is averaging Php 8.00 to Php 10.00 with 1,000 board lot. In the “Build, Build, Build” project of the current administration, they allocated billions of pesos for the modernization of the infrastructure. 

But because of the higher coal, power prices, and foreign exchange losses the cement maker drop around 70% since last year.

Ignacio Mijares, President, and CEO of CHP, said: “As the country takes steps towards reopening the economy, the impact of the pandemic remains a concern. We must continue to adapt to the challenges and limitations brought about by COVID-19. Full execution of the government’s infrastructure plan can help accelerate economic recovery. Nevertheless, we continue to be optimistic on the long-term growth prospects of the Philippines.”

Besides, the projects of the administration will be steady amid the recovery of the pandemic crisis in the country. 

The administrations “Build, Build, Build” program rely on loans to fund projects across the country.

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