Capital Markets
From The Report: The Philippines 2012
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The Philippines Stock Exchange (PSE) was the best-performing index in Asia in 2011, although it could not match the incredible 37.6% growth it displayed in 2010. Still, the bourse managed to close out the year 4.1% higher, thanks largely to the strong performance of the mining and oil counter. Now managers of the PSE, which is the smallest of South-east Asia’s major stock markets, want to increase the volume and complexity of trading, upgrading technology, allowing shorting, and listing exchange-traded funds.
This chapter contains interviews with Hans Sicat, President, PSE; Cecilia Tan, President, BPI Capital Corporation; and Roberto Juanchito T Dispo, President, First Metro Investment Corporation.
Articles from this Chapter
Gearing up for growth: Following a steady year trade statistics look promising
OBG talks to Cecilia Tan, President, BPI Capital CorporationOBGplus
Interview:Cecilia Tan What has been the response to recent efforts to boost trading at the bourse, including the decision to begin afternoon trading in January 2012? CECILLIA TAN: The market response has been generally positive. Investors acknowledge that there may be some stumbling at the onset, but that overall, the moves are in the right direction. The initiative to extend trading hours is an attempt to align the Philippines with regional trading bourses as Asia Pacific moves closer to…
Listings delayed: Initial public offerings are being launched, albeit at a slower paceOBGplus
A flurry of activity took place on the Philippine capital markets in the closing months of 2010, with a number of companies holding or preparing to hold initial public offerings (IPOs), buoyed by strong economic growth, a rapid rise in equities throughout the year and significant liquidity in the marketplace. Riding the bull market, the local low-cost airline Cebu Air closed its IPO in mid-October 2010, raising more than $540m by listing more than 186m of its shares on the Philippine Stock…
Uptick in activity: OBG talks to Roberto Juanchito Dispo, President, First Metro Investment CorporationOBGplus
Interview:Roberto Juanchito Dispo What is supporting the current trend towards increased corporate activity in the capital markets? ROBERTO JUANCHITO DISPO: The macroeconomic factors of the country continue to be fairly stable and positive. Market sentiment is being fuelled by ample liquidity in the system, low interest rates, relatively benign inflation and stable exchange rates. All of these elements underpin the development of the capital markets in the country. While public issuances…
Metro Pacific Investments Corporation: Construction & Real EstateOBGplus
THE COMPANY: Metro Pacific Investments Corporation (MPIC) is a Philippine-based unit of the First Pacific Company with interests in power and water utilities, health care, and infrastructure development and management. MPIC was incorporated and registered with the Securities and Exchange Commission in 2006 to serve as a holding company for investments in real estate and infrastructure. MPIC’s major subsidiaries are DMCI-MPIC Water Company and Metro Pacific Tollways Corporation. DMCI-MPIC holds a 92% stake in Maynilad, which has the exclusive water supply concession for the western zone of Metro Manila. Maynilad’s concession zone covers…
DMCI Holdings: ConstructionOBGplus
THE COMPANY: DMCI is a diversified conglomerate with core businesses in construction (through DM Consunji) real estate and property development (through DMCI Homes), and in coal (through Semirara). DMCI has further diversified into other areas, such as water utilities (DMCI-MPIC Water Company), power (DMCI Power), nickel (DMCI Mining) and toll roads. BUSINESS PERFORMANCE: Net income rose to P1.76bn ($39.95m) between July and September 2011, up from the previous year’s P1.59bn ($36.09m). Revenues expanded by nearly a quarter to P7.69bn ($174.56m) in third-quarter 2011, compared to the P6.33bn ($143.69m) registered in the same period in…
Energy Development Corporation: EnergyOBGplus
THE COMPANY: Energy Development Corporation (EDC) is a pioneer in the geothermal energy industry, focusing on developing and commercialising renewable energy for the past 30 years. At present, EDC has about 1400 MW of investments in its green energy portfolio. The company has also been diversifying its business, with investments in hydroelectric and wind power projects. EDC currently provides such services as exploration and assessment of geothermal fields, technological development training and field development. EDC has four geothermal plants, the largest of which is the Leyte geothermal production field, with a plant capacity of over 700…
ICTSI: LogisticsOBGplus
THE COMPANY: International Container Terminal Services Inc (ICTSI) was created in 1987 with the privatisation of the Manila International Container Terminal (MICT). ICTSI’s strategy is to continue developing its existing portfolio of terminals while proactively seeking opportunities for acquisition. ICTSI has 23 terminal concessions and port development projects in 17 countries worldwide. It also has six operating terminals in the Philippines and one each in Indonesia, Brunei, Japan, China, the US, Ecuador, Brazil, Poland, Georgia, Syria, Madagascar and Croatia. ICTSI also has three greenfield projects in Mexico, Colombia, and Argentina.…
Philex Mining Corporation: MiningOBGplus
THE COMPANY: Philex Mining Corporation (PMC) is engaged in the exploration, development and utilisation of mineral resources. PMC is a unit of Hong Kong-listed First Pacific Company, and primarily produces copper, gold and silver. In September 2008, PMC announced that its subsidiary, Philex Petroleum Corporation, completed the acquisition of Forum Energy, an oil and gas exploration company in the Philippines. In February 2009, PMC acquired a 50% interest in Anglo American Exploration (Philippines). In addition, in April 2010, PMC, through its wholly owned subsidiary, Philex Gold Holdings, acquired Philex Gold Incorporated. BUSINESS PERFORMANCE:…
Universal Robina Corporation: AgricultureOBGplus
THE COMPANY: Universal Robina Corporation (URC) traces its roots to 1954 when founder John Gokongwei diversified his trading company into corn starch production (United Corn Products) and counts its production of Blend 45, the first domestically manufactured instant coffee, as its first successful venture. URC has since then expanded exponentially and is currently involved in a plethora of food-related businesses, including the manufacture of branded consumer foods, hog and day-old chick production, manufacture of animal and fish feeds, glucose and veterinary compounds, flour milling, and sugar milling and refining. URC has several branches…
