Metro Pacific Investments Explained

Metro Pacific Investments Corporation
Type:	Privately-held Investment company
Location City:	Makati
Location Country:	Philippines
Area Served:	Philippines
Key People:	Manuel V. Pangilinan Alfred V. Ty Jose K. Ma. Lim ^[1]
Revenue:	PHP50.88 billion (2022)
Operating Income:	PHP16.94 billion (2022)
Net Income:	PHP13.14 billion (2022)
Assets:	PHP643.8 billion (2022)
Equity:	PHP245.04 billion (2022)
Owner:	Metro Pacific Holdings (46.08%) GT Capital (17.08%) Government Service Insurance System (12%)
Parent:	First Pacific Company
Subsid:	DMCI – MPIC Water Company Metro Pacific Tollways Corporation Neo Oracle Holdings Inc. Beacon Electric Asset Holdings Inc.

Metro Pacific Investments Corporation (MPIC) is a Philippine-based unit investment holding company of First Pacific Company Limited through Metro Pacific Holdings, Inc.^[2] MPIC through its subsidiaries, provides water, sanitation, and sewerage services and also operates in real estate, and infrastructure projects. It also invests in some hospitals in the Philippines.

In May 2016, GT Capital Holdings Inc. acquired 15.6 percent of MPIC, which will, in turn, buy control over GT Capital's Global Business Power Corporation in a deal worth PHP 29.89 billion. GT Capital acquired 3.6 billion new common shares in MPIC at PHP 6.10 per share amounting to a stake of 11.4 percent on an expanded capital base for a total cash consideration of PHP 21.96 billion. It also acquired a further 1.3 billion common shares in MPIC from Metro Pacific Holdings, Inc. (MPHI), a Philippine affiliate of First Pacific Company, at the same price, for a total of PHP 7.93 billion in cash. These transactions result in GT Capital holding an overall stake of 15.6 percent of the common share capital of MPIC in a new business alliance between the two business groups.^[3]

In August 2023, the company formally filed for voluntary delisting from the Philippine Stock Exchange (PSE).^[4] The company completed its tender offer on September 19, 2023 acquiring 5.46 billion common shares equivalent to 19% of the company and was eventually delisted from the PSE effective October 9. Eight days later on October 17, Ramon S. Ang was elected a member of the company's board of directors after making a direct investment in MPIC. However, the size of Ang's investment was not disclosed.^{[5] [6]}

Subsidiaries

Utilities

• Manila Electric Company (Meralco) - holds 10.5% direct stake
  • Radius Telecoms, Inc. - 100% owned
• Global Business Power (GBP)
• Metpower Venture Partners
• Maynilad Water Holding Company Inc. - owns 83.96% controlling stake of Maynilad Water Services
• Metropac Water Investments Corporation
  • Manila Water Consortium Inc.
    • Cebu Manila Water Development Inc.
  • Tuan Loc Water Resources Investment Joint Stock Company (Vietnam) - 49%^[7]

Power and transport

• Metro Pacific Tollways Corporation
  • NLEX Corporation - holds the concession rights to construct, operate and maintain the North Luzon Expressway (NLEX) and the Subic–Clark–Tarlac Expressway (SCTEX).
  • Ho Chi Minh City Infrastructure Investment Joint Stock Company (Vietnam)
  • Don Muang Tollway Public Company Ltd. (Thailand)
  • Cavitex Infrastructure Corporation (CIC) - holds the concession rights for the operation and maintenance of the Manila–Cavite Expressway (CAVITEX).
• Beacon Electric Asset Holdings Inc. - holds 35% stake in Meralco
• Light Rail Manila Corporation - a joint venture railway company with Ayala Corporation that operates the Manila Line 1 under a 32-year concession agreement with the Light Rail Transit Authority

Logistics

• Metropac Movers, Inc. (MMI) - is the logistics arm and a subsidiary of infrastructure conglomerate, Metro Pacific Investments Corporation.

Healthcare

• Metro Pacific Hospital Holdings, Inc. (MPHHI) - holds 43.1% stake and management control^[8]
  • Luzon
    • Our Lady of Lourdes Hospital, Manila (20-year lease through EMHMC)
    • Asian Hospital and Medical Center (86% Stake), Muntinlupa
    • Cardinal Santos Medical Center, San Juan (100% stake) (through CVHMC)
    • Makati Medical Center (33% stake), Makati
    • Sacred Heart Hospital of Malolos (51% stake), Malolos City, Bulacan
    • Manila Doctors Hospital (20% stake), Manila
    • Marikina Valley Medical Center (93% stake)
    • De Los Santos Medical Center (51% stake), Quezon City
    • Delgado Memorial Hospital (65% stake), Quezon City
    • Central Luzon Doctors Hospital, Tarlac City
    • UHBI-Parañaque Doctors Hospital^[9]
  • Visayas
    • The Riverside Medical Center Inc., Bacolod
    • Ramiro Community Hospital, Tagbilaran
  • Mindanao
    • Davao Doctors Hospital (34% stake)
    • West Metro Medical Center, Zamboanga City
    • St. Elizabeth Hospital, General Santos City (80% stake)
    • Manuel J. Santos Hospital, Butuan
• East Manila Hospital Managers Corporation (EMHMC) operates Our Lady Of Lourdes Hospital
• Colinas Verdes Hospital Managers Corporation (CVHMC) operates Cardinal Santos Medical Center
• In July 2021, MPIC launched its first high-performance mobile app, called mWell PH.^[10]

Food and Beverage

• Metro Pacific Agro Ventures
  • The Laguna Creamery Inc. (51% stake)
  • Bukidnon Dairy

Real Estate

• Landco Pacific - Real Estate arm of MPIC.

Financial Institutions

• Maya Bank

Schools

• Davao Doctors College, Davao City
• Riverside College (Philippines), Bacolod City

Others

• IdeaSpace Foundation (QBO Philippines - startup incubator based in Makati City)

External links

• Metro Pacific Inverstments Corporation - Official website

Notes and References

1. Web site: Metro Pacific expects net income to rise 30% . . Manila, Philippines . May 23, 2010 .
2. http://www.securities.com/Public/company-profile/PH/Metro_Pacific_Investments_Corporation_en_2315509.html Metro Pacific Investments Corporation
3. Web site: Ty family invest P29.89B in MPIC in exchange for control over power unit . . October 4, 2016 . https://web.archive.org/web/20160530041233/http://www.mb.com.ph/ty-family-invest-p29-89b-in-mpic-in-exchange-for-control-over-power-unit/ . May 30, 2016 . dead .
4. Web site: Metro Pacific formally files voluntary delisting with PSE. ABS-CBN News. August 9, 2023. November 8, 2023.
5. Web site: Ramon Ang joins Metro Pacific board. Philippine Daily Inquirer. October 24, 2023. November 8, 2023.
6. Web site: SMC's Ang takes a seat in Metro Pacific board. Philippine Star. October 24, 2023. November 8, 2023.
7. Web site: MPIC acquires 49% of Vietnam water firm. Iris. Gonzales. The Philippine Star. April 3, 2018. April 6, 2018.
8. Web site: Metro Pacific Hospitals raises $684m from KKR and GIC. Nikkei Asian Review. October 15, 2019. September 4, 2020.
9. News: Metro Pacific Health invests in UHBI-Parañaque Doctors. May 8, 2024 . Manila Standard. May 7, 2024.
10. Web site: MPIC to transform healthcare delivery with mWELL, PH's first fully integrated health & wellness app . Sunstar . September 2, 2021 . English . July 1, 2021.