First Pacific Company Limited
Mr. Manuel Velez Pangilinan (CEO, MD & Exec. Director)
Mr. Christopher Huxley Young (Exec. Director)
Mr. Hon Pong Ng (CFO & Associate Director)
Summary
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
Vision
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
References
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Mr. Manuel Velez Pangilinan (CEO, MD & Exec. Director)
Mr. Christopher Huxley Young (Exec. Director)
Mr. Hon Pong Ng (CFO & Associate Director)