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First Pacific Company Limited

First Pacific Company Limited
Leadership team

Mr. Manuel Velez Pangilinan (CEO, MD & Exec. Director)

Mr. Christopher Huxley Young (Exec. Director)

Mr. Hon Pong Ng (CFO & Associate Director)

Products/ Services
Financial Services
Number of Employees
Above 50,000
Headquarters
Central, Hong Kong Island, Hong Kong
Established
1981
Net Income
20M - 100M
Revenue
Above - 1B
Traded as
HKG:0142
Overview
Location
Summary
First Pacific Company Limited, an investment management and holding company, engages in the consumer food products, telecommunications, infrastructure, and natural resources businesses in the Philippines, Indonesia, Singapore, the Middle East, Africa, and internationally. The company offers a range of telecommunications and digital services, including fiber optic backbone, and fixed line and mobile networks. It also manufactures and distributes a range of food products, including noodles, dairy products, snack foods, food seasonings, nutrition and special foods, beverages, wheat flour, and pasta; breeds seeds; cultivates oil palm, rubber, sugar cane, and other crops; and offers cooking oils, margarines, and shortenings. In addition, the company explores for, mines, and produces gold, copper, and silver; and produces sugar and ethanol. Further, it is involved in the operation of gas-fired power plant; provision of water distribution, sewerage, and sanitation services; and operation of toll roads, hospitals, and rail lines, as well as provision of logistics services. First Pacific Company Limited was founded in 1981 and is headquartered in Central, Hong Kong.
History

1981: First Pacific Finance Limited was founded as a financial services provider in Hong Kong. . Start-up capital was HK$7 million with a total staff of six in a 500 square feet office in Central, Hong Kong. Original name was Overseas Union Finance Limited

1982–1987: Acquired Hibernia Bank in San Francisco, a controlling interest in Hagemeyer, the Netherlands, invested in Berli Jucker in Thailand, First Pacific Davies in Hong Kong, United Savings Bank in California, Hong Nin Bank in Hong Kong and founded Metro Pacific Corporation in the Philippines

1988: First Pacific Holdings and First Pacific International merged to form the currently listed First Pacific Company. ; First investment in telecoms with the purchase of a 50% interest in Pacific Link, Hong Kong. Acquired Dragon Seed Department Store in Hong Kong, set up retail operations

1989: Acquired a controlling interest in Imagineering Australia thereafter named Tech Pacific

1992: Acquired Far East Bank and merged with Hong Nin Bank, renamed and listed as First Pacific Bank in Hong Kong

1988–1996: First Pacific showed significant growth in marketing and distribution, property and banking divisions; and pioneered in regional telecoms investments

1993–1996: Smart Communications launched cellular services in the Philippines. NTT of Japan invested in Smart Communications as a strategic investor. Acquired PDCP Bank and First e-Bank in the Philippines; Invested in GSM networks in China's Fujian Province, Shenzhen, Dongguan and Huizhou and in Taiwan's Tuntex Telecom, rolled out GSM mobile networks in India through Escotel

1996: First Pacific became a constituent of the Hang Seng Index

1998: With the Asian crisis, First Pacific restructured and refocused in Asia with core investments in leading companies in telecoms, consumer food products and infrastructure sectors

1998–2000: Acquired PLDT in the Philippines and Indofood in Indonesia. Concluded acquisition of Smart Communications by PLDT

2006: Relisted MPIC as an infrastructure company

2007: Increased investment in PLDT. Invested in water distribution and hospital through MPIC. Listed Indofood's plantations businesses through IndoAgri. IndoAgri acquired Lonsum

2008: First Pacific made its first investments in mining , and in toll roads through MPIC. MPIC increased investment in Maynilad. Indofood added dairy business through the acquisition of Indolakto

2009: Invested in electricity distribution through PLDT and MPIC. Increased investment in Philex

2010: Increased investments in Meralco through Beacon Electric , in hospitals through MPIC and in Philex. Listed Indofood's consumer branded products businesses through ICBP

2011: Increased investments in telecoms through PLDT's acquisition of Digitel, in Meralco through Beacon Electric, in hospitals through MPIC. Listed natural resources businesses through Philex Petroleum and SIMP

2012: Increased investments in Meralco through Beacon Electric , in Philippine Hydro Inc. through Maynilad, in CAVITEX through MPTC, in hospital through MPIC, in consumer products through Indofood, in plantations through IndoAgri, SIMP and Lonsum

2013: FPM Infrastructure acquired 29.45% of Don Muang Tollway; FP Natural Resources acquired 34.0% of Roxas Holdings; FPM Power acquired 70.0% of PacificLight Power

2014: First Pacific sold its 75.0% interest in FPM Infrastructure to MPIC, lifted MPIC stake in Don Muang Tollway to 29.45%

2015: First Pacific acquired 50.0% of Goodman Fielder; FP Natural Resources and its Philippine affiliate increased investment in Roxas Holdings to 50.9%

2016: Metro Pacific Holdings, Inc. sold 4.1% diluted interest in MPIC to GT Capital Holdings, Inc. and subscribed newly issued Class A voting preferred shares in MPIC. Post transactions, MPHI holds a voting interest in MPIC of 55.0% and an economic interest of 42.0%; MPIC expanded its power portfolio by increasing its interest in Beacon Electric to 75.0% from 50.0% and invested in Global Business Power Corporation

2017: MPIC acquired the remaining 25.0% interest in Beacon Electric which became a wholly owned subsidiary of MPIC

2019: First Pacific sold its 50% interest in Goodman Fielder to Wilmar International Limited; MPIC sold its 40.0% interest in Metro Pacific Hospital Holdings, Inc. to KKR & Co. Inc.

2020: Indofood CBP acquired the entire issued share capital of Pinehill Company Limited

Mission
To be a leading investor in the Asian and Pacific markets delivering value and creating a positive impact on our stakeholders.
Vision
First Pacific seeks to deliver superior and sustainable returns to our shareholders and to invest in high-growth businesses and sustainable investments for the long-term. We aim to create value for our stakeholders by leveraging our deep experience and networks across the Asian and Pacific markets.
Key Team

Mr. John W. Ryan (Chief Investor Relations and Sustainability & Associate Director)

Ms. Wing Man Chiu (EVP, Company Sec. & Gen. Counsel)

Ms. S. K. Cheung (VP of Group Corp. Communications)

Mr. Ping Cheung Chan (Exec. VP & Group Financial Controller)

Mr. Stanley H. Yang (Exec. VP of Group Corp. Devel.)

Mr. T. H. Lin (Exec. VP of Group Treasury & Tax and Group HR)

Ms. W.Y. Lau (VP & Company Secretariat)

Recognition and Awards
First Pacific has received numerous awards and recognitions, including being named the ‘World’s Top 10 Investor’ in 2017 and ‘Asia-Pacific’s Top Investment Bank’ in 2019 by Global Finance. The company is also the recipient of the ‘Asian Financial Services and Technology Innovation Award’ by The Asian Banker in 2020, recognizing its innovative and technologically advanced products and services.
References

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First Pacific Company Limited
Leadership team

Mr. Manuel Velez Pangilinan (CEO, MD & Exec. Director)

Mr. Christopher Huxley Young (Exec. Director)

Mr. Hon Pong Ng (CFO & Associate Director)

Products/ Services
Financial Services
Number of Employees
Above 50,000
Headquarters
Central, Hong Kong Island, Hong Kong
Established
1981
Net Income
20M - 100M
Revenue
Above - 1B
Traded as
HKG:0142