MVP eyes foreign partner in Mactan-Cebu bid

MPIC to form joint venture for Mactan project


11:36 PM January 16th, 2013


Businessman Manuel V. Pangilinan: Looking for foreign partner

Businessman Manuel V. Pangilinan’s Metro Pacific Investments Corp. (MPIC) is forming a joint venture with a foreign partner to make a strong bid for the Mactan-Cebu international airport project, one of the biggest infrastructure contracts being bid out by the Aquino administration this year.

Speaking late Tuesday, Pangilinan said the company was in talks with a potential partner with experience in airport projects in Asia and other parts of the world.

“We have to look for foreign partners because there aren’t any local airport operators,” Pangilinan said.

He said that having a partner experienced in airports was a requirement set by the Department of Transportation and Communications (DOTC), the agency handling the contract. The foreign partner will also be vital for MPIC, which only has experience operating toll roads.

“We need to have the right partner that will qualify with respect to our bid,” Pangilinan said.

The existing Mactan-Cebu International Airport is the country’s second-biggest air passenger facility with an annual capacity of 4.5 million passengers. However, the passenger traffic for year 2011 already hit 6.2 million passengers.

Passenger numbers grew at the facility at a compounded annual rate of 14.47 percent for domestic traffic and 11.02 percent for international traffic over the last five years.

According to the Public Private Partnership (PPP) Center, “the deterioration in the level of convenience and lack of ability to handle more passengers may hinder further development and growth of the airport.”

Apart from the construction of a new passenger terminal, the project also involves operating and maintaining all old and new parts of the facility, the renovation of the existing building and the installation of new computer systems to comply with international standards.

Also expected to bid for the project is a joint-venture between conglomerates’ Ayala Corp. and Aboitiz Equity Ventures.

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  • parefrank

    to Paul Eugenio

    MVP is not the owner of PLDT and its dozens other businesses, true. But his PLDT is also practically foreign, even he claims that those stocks have no voting power. And it is about 20 years, since the thenAsia Week frontsided him already as the “highest paid manager / president in South East Asia.  When PLDT was only PLDT, we did not have so manyproblems, even now PLDT is “state of art”. Still, the only prompt service is the callcenter reminder about the recent bill, no matter it is already paid or has not yet been delivered.
    And how it comes that a foreign owned company like Metro Pacifi can be into so many phil. businessesif MVP is not owner?

  • parefrank

    One more businesses to the 25 his PLDT has already. That is why the original busines, telecommunication, has such lousy service but is very expensive. More expensive with less features but more problems than  in Europe. There you have no interruptions which are common at PLDT (and Globe too). And fo the 1500 pesos you pay here for local calls plus a 1 Megabit web connection (which mostly is much slower, you get, as example, a 16 Mbit uninterrupted connection plus flatrae nationwide for phone and handy. No wonder here the profits are gigantic, even when not shown openly. Just the profit with the “expiring” prepaid accounts is big, other societies would not allow just to confiscate not yet used prepayments.  Prepaid cards / accounts are valid util the paid amount was used. In RP, it is like a bank would say “we give you a credit of one million, but if you do not use it in 2 months, the credit is over but still you have to pay back one million”.

  • junsepara

    ayalagroup should be awarded this contract, this MVP guy is just a hidden crook in our midst!!a chinks lapdog!!

  • junsepara

    why is the richest man in PHL looking for a partner??? aren’t he suppose to be overflowing with money, or he is signalling his chinks countrymen to join him, never trust this MVP guy, he’s a chink that can easily sold us to his homeland!!!!

    • cutie

      His money is busy making more money. Now he wants to make money out of other people’s money. And that’s really a business.

  • Danyel


  • Lapu Lapu

    The pace MVP buying out Corporations in the Philippines, One day MVP will own the entire Philippines. Then it will be called MVOP (My Very Own Philippines)

  • dennis

    Why don´t you get Mr Cobonque,(not sure to spell his name) Remember him? The one who supposedly will design NAIA? Let him take this opportunity.

    • Jean Claude

      mr cobonpue is a designer, not a tycoon. pangilinan, ayala or aboitiz may hire him to design the airport. 

  • Mamerto

    Why hasn’t there been an investigation on the funding/source of funds of MVP…, considering that his various investments in so many enterprises & various large corporations rivals, if not surpasses, the holdings/assets of the reputed richest individual of the Philippines.?

    • Edmund

      because he has nothing to hide… he already laid down his business background. better do some research on your own. he’s been practically given full spending power by the Indonesian family (his boss) to make decisions in growing the family’s investment portfolio. besides, he has the Midas touch. investigate mo mukha mo!

    • Paul Eugenio

      MVP doesn’t even own 1% of PLDT. He’s a Fund Manager, not a tycoon. He only manages a variety of investments for First Pacific of the Salim Family of Indonesia.

      • parefrank

        And his PLDT is also practically foreign, even he claims that those stocks have no voting power. And it is about 20 years, since the thenAsia Week frontsided him as the “highest paid manager / president in South East Asia.

      • Paul Eugenio

        Well the case is already mute due to the SC decision against PLDT.

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