PH companies seen rebounding in 2021 as firms revisit pre-COVID 'capex cycles'

ABS-CBN News

Posted at Jan 25 2021 02:23 PM

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MANILA - Corporate earnings and spending are seen to rebound this year near pre-coronavirus levels as local firms go back to their "capital expenditure cycles" and planned expansions delayed by the pandemic.

Total bounce back of Philippine companies is expected to be around the first quarter of 2022, according to Phillip Hagedorn, chief investment officer, ATR Asset Management in an interview on ANC's Market Edge on Monday.

He said the positive push from Philippine companies will drive the Philippine Stock Exchange index (PSEi) to reach as high as 8,300 points and help grow the economy by 9 percent for 2021.