"A connected, enlightened and productive Philippines"
1. To provide help and support to those who need it in our areas of strength and competency. 2. To facilitate the empowerment of the Filipino people through the utilization of information and communications technology 3. To extend products and services to people, reaching out above all to those who cannot afford it. 4. To focus on growth in six key areas: livelihood, social entrepreneurship and microfinance, education, disaster preparedness, youth, poverty alleviation, and sports 5. To provide an efficient, cost-effective medium for multi-sectoral coordination and communications
* Goal: Continue to explore investment opportunities in existing core businesses across the region Achievement: Ongoing. First Pacific continues to search in emerging Asia economies for potential investment opportunities meeting our investment criteria with a particular focus on natural resources and infrastructure. Proceeds from US$400 million of unsecured 7-year bonds issued in June 2012 provide the financial resources for this purpose.
* Goal: Fortify PLDT’s position of market leadership in telecommunications, integrate Digitel, consolidate networks, position for return to earnings growth in 2013 Achievement: Achieved and ongoing. Leading market position retained as PLDT group’s broadband subscriber base increased by 5% to more than 3.0 million at the end of June 2012 from the end of 2011. In the period, the combined cellular subscriber base grew 6% to more than 67.4 million subscribers.
* Goal: Invest in a new infrastructure project in the Philippines via MPIC Achievement: Ongoing. MPIC continues to evaluate potential investments in infrastructure projects across the Philippines, including participation in the Philippine Government’s Public-Private Partnership initiatives. On 24 April 2012, MPIC formed a 50-50 joint venture with Ayala Corporation to pursue and develop light rail projects in the greater Metro Manila. MPIC continues to seek further infrastructure projects across the Philippines.
* Goal: Grow MPIC’s toll road network by building roads and/or by investing in other toll road assets Achievement: Ongoing. Construction of “Segment 9,” a key part of the Harbour Link project to connect the North Luzon Expressway to the port area of Manila, is set to begin by the end of 2012 at the earliest and the first quarter of 2013 at the latest. The Philippine Government has granted approval for the implementation of two elevated expressways to connect the northern and southern toll road systems through central Manila, and Management are evaluating its options while continuing to search for suitable investment opportunities.
* Goal: Reverse decline in EBIT margin at Indofood
Achievement: Ongoing. The EBIT margin declined to 14.5% in the first half of 2012 from 15.9% in the first half of 2011 as strong competition remained in key sectors together with lower selling prices for crude palm oil (“CPO”)....