Metro Pacific Investments Corp., the Philippine-listed infrastructure conglomerate of Hong Kong’s First Pacific Group, was expecting profit this year to hit P7.8 billion as it books gains across its business units, according to the company’s top official.
Metro Pacific Tollways Corp., which operates the North Luzon Expressway and Manila Cavite Expressway, bought 50 percent plus one share of Easytrip Services Corp. for P103 million. This will be through a combination of new shares to be issued by Easytrip and the purchase of shares of Egis Easytrip Services SA, a filing with the Philippine Stock Exchange showed.
By Miguel R. Camus
Metro Pacific Investments Corp., an infrastructure holding company led by businessman Manuel V. Pangilinan, is buying 5 percent of Manila Electric Co. (Meralco), the country’s biggest electricity distributor, from an affiliate for P13.24 billion, a stock exchange filing Tuesday showed.
By the staff
An emergency meeting will be convened in Malacañang—as early as Monday, we hear—to discuss the much-ballyhooed bidding for the right to build the 47-kilometer Cavite-Laguna Expressway (Calax) tollroad project using the public-private-partnership (PPP) framework.
By Doris C. Dumlao
Infrastructure holding firm Metro Pacific Investments Inc. has raised its interest in Thai tollroad operator Don Muang Tollway Public Co. Ltd. (DMT) to 29.45 percent, from 7.36 percent, by buying out the indirect stake held by parent conglomerate First Pacific Co. Ltd.