First Pacific owns 5 local subsidiaries
IN its 2018 annual report, First Pacific Co. Ltd. said it “is a Hong Kong- based investment management and holding company with operations located in Asia-Pacific.” It added that “our principal business investments relate to consumer food products, infrastructure, natural resources and telecommunications.” It has “a balance of assets in our core business and markets,” among a number of companies, PLDT Inc., Metro Pacific Investments Corp. (MPIC), Philex Mining Corp., PXP Energy Corp. and Roxas Holdings Inc.
In addition to what it classifies as “our core industries and markets,” First Pacific said “PLDT is the dominant telecommunications and digital services provider in the Philippines with the largest fixed broadband network and the most modern and sophisticated wireless network in the country.” It describes MPIC as “the largest infrastructure investment management and holding company in the Philippines with investments in the country’s largest electricity distributor, hospital group, road operator and water distributor”
“MPIC also holds substantial investments in major light rail and logistics operations, and in the largest electricity generator in the Visayas region of the Philippines, producing gold, copper and silver,” First Pacific said adding that PXP “is an upstream oil and gas company with a number of service contracts in the Philippines and abroad.” It details that as of Mar. 26, 2019, its economic interest in PLDT was 25.6 percent; in MPIC 42.0 percent; in Philex 31.2 percent; and in PXP 42.4 percent. It also owns 67.6 percent in FPM Power Holdings Ltd. and 79.4 percent in FP Natural Resources Ltd.
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The explanatory notes of First Pacific are as follows:
(1) Two Rivers Pacific Holdings Corp., a Philippine affiliate of First
Pacific, holds an additional 15-percent economic interest in Philex.
(2) 30.4 percent held by Philex, 21.7 percent held by First Pacific and 6.7 percent held by Two Rivers.
(3) Includes a 7.6-percent effective economic interest in FPM Power held through First Pacific’s indirect interests in Manila Electric Co. (Meralco).
( 4) Includes a 9.4- percent effective economic interest in FP Natural Resources held through First Pacific’s indirect interests in Indofood Agri Resources Ltd. (IndoAgri).
(5) FP Natural Resources holds 32.7 percent in RHI and its Philippine affiliate First Agri Holdings Corp. (FAHC) holds an additional 30.2-percent economic interest in RHI. (First Pacific’s ownership totals 62.9 percent).
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is updating First Pacific’s report on ownership of Metro Pacific, RHI, Philex, PLDT and PXP.
Metro Pacific has 31,569,338,752 outstanding common shares with par value of P1 pe share but was closed trading at P2.60 on May 26, 2020 after it opened trading at P2.70, hit a high of P2.72 and dropped to P2.60. It peaked at a 30- day high of P2.98 and recorded a 30- day low of P2.48.
Roxas Holdings peaked at a 30-day high of P1.55 and fell to a 30-day low of P1.28. On May 26, 2020, it opened trading at P1.33, climbed to P1.50, dropped to P1.33 and closed at P1.48. The number of common shares traded was low at 149,000, or 0.0095 percent of listed 1,565,579,279 common shares.
Philex peaked at a 30-day high of P2.46 and fell to a 30-day low of P2.06. On May 26, 2020, it opened trading at P2.36, hit a high of P2.41, dropped to P2.26 and closed at P2.30 on 544,000 common shares, or 0.011 percent of listed 4,940,399,068 outstanding common shares.
PLDT peaked at a 30-day high of P1,305 and fell to a 30- day low of P1,090. On May 26, 2020, it opened at P2,211, hit a high of P1,224, dropped to P1,190 and closed at P1.212. Volume totaled 56,950 common shares, or 0.024 percent of listed 233,926,212 common shares.
PXP Energy peaked at a 30- day high of P5.50 and fell to a 30-day low of P3.85. The stock opened on May 26, 2020 at P4.91, climbed to P5.11, dropped to P4.51 and closed at P4.55. Volume hit 4.286 million common shares, or 0.252 percent of 1.7 billion listed common shares.