Billionaire Anthoni Salim’s First Pacific Co. is seeking to buy sugar companies in the Philippines to expand its footprint in Southeast Asia and tap opportunities from a free-trade agreement in the region.
Globe Telecom Inc. may collaborate with Lopez Holdings Corp.’s broadcasting unit ABS-CBN Corp. as the Philippines’ second-largest mobile-phone company seeks to add media content to boost wireless usage by its subscribers.
ABS-CBN Broadcasting Corp., the largest Philippine media company, reported quarterly profit almost doubled to a record as advertising spending picked up. Shares rose for the eighth day, their longest winning streak.
Emperador Inc., the brandy maker that gets almost all its revenue from the Philippines, fell the most in five months in Manila trading after confirming talks to buy Scottish spirits company Whyte & Mackay to expand overseas.
SM Investments Corp., Philippine billionaire Henry Sy’s holding company, climbed to a record after it said it may merge its property units, which could unseat Ayala Land Inc. as the nation’s largest developer.