Daily Colombian Equities Bulletin and Fundamentals 5-30-14
Ideas get bigger when you share them...
May 30, 2014 (www.investorideas.com newswire) The Colcap index closed at 1,663 points (-0.08%). Total turnover reached USD 64 mm. The best performers were Cemex Latam (+3.0%), Ecopetrol (+1.30%) and ISA (+0.98%). On the other hand, the worst performers were cemargos (-1.83%), Canacol (-1.71%) and PFcemargos (-1.70%).
The group formed by Transmantaro (ISA) and CTM (EEB) won a new transmission line in Peru (16.6 km, 220KV). ISA has a 60% share in the group, while EEB the remaining 40%. The expected annual revenues of the project are USD 5.5 mm (for a 30 years period) and the investment is estimated in USD 59.6 mm. The transmission line will start operations 24 month after the final award. Source: SuperFinanciera
Ocensa Pipeline will increase its capacity to 735,000 bls in the first quarter of 2016. However, given the expansion that is taking place at this moment, the pipeline will increased its capacity in 30,000 bls in the next two to three months.
Global Finance, a US magazine, chose the 25 best banks in Latin America. Bancolombia was awarded as the best bank in Colombia. Source: La Republica
In 2014, the company will held the biggest exploratory project in its history, which consists on the exploration of 56 wells for a total CAPEX of USD 200 mm. Source: Vanguardia Liberal nacional
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