Philippine ventures of billionaire Anthoni Salim’s First Pacific Co. plan telecommunications, power and water investments in Myanmar, Vietnam and Thailand to tap rising demand, Chief Executive Officer Manuel Pangilinan said.
Philippine Long Distance Telephone Co., the nation’s biggest company by market value, rose to the highest in about five years after agreeing to sell a controlling stake in its outsourcing unit to CVC Capital Partners Ltd.
Manila Electric Co., the Philippines’ largest power retailer, plans to spend $150 million to build a power plant with a capacity of as much as 150 megawatts, President Manuel Pangilinan told reporters today.
SM Investments Corp. leapfrogged Philippine Long Distance Telephone Co. to become the nation’s most valuable stock, as Southeast Asia’s fastest economic growth prompted a shift in consumer spending to property and leisure.
Philex Mining Corp., the Philippines’ biggest miner, said it may spin off its hydrocarbon assets, including 70 percent of a gas field that may be as large as the Malampaya gas project, the nation’s biggest.
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.