
MANILA, Philippines – Infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) is increasing its exposure in Southeast Asia through its tollroad and water distribution units. MPIC intends to pursue new investment opportunities in the Philippines even as regulatory risks might dampen revenues of Maynilad Water Services Inc. by P2 billion annually in the medium term, officials said. “We continue to look at water and tollroad projects in the region, particularly Indonesia and Thailand. We are taking a prudent position by partnering with local firms,” MPIC chief financial officer David J. Nicol said during the company’s annual stockholders meeting. “The two businesses we’re attracted to are tollroad and water businesses. We have one in Thailand right now and we are evaluating opportunities in Thailand and Indonesia,” Nicol said. MPIC has taken a look at Myanmar but it still has to bear fruit, while Vietnam poses a number of opportunities but at high prices, Nicol said. In November, Hong Kong-based parent firm First Pacific Co. Ltd. and MPIC formed a joint venture to acquire a 24.9-percent stake in Thai tollroad operator Don Muang Tollway Public Co. Ltd (DMT) for P5.8 billion. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 DMT operates a 21.9-kilometer, six-lane elevated toll road stretching from Din Daeng in central Bangkok past Don Muang Airport and on to the National Monument in the north of the capital under a 27-year concession ending in 2034. MPIC president and CEO Jose Ma. K. Lim said the Thailand tollroad business is doing Read More …