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.
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.
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.
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.
Philex Mining Corp. , controlled by Manuel Pangilinan , is studying an investment into the $5.2 billion Tampakan project in the Philippines two months after a Chinese proposal was pulled. Philex rose to its highest in two months.