A word from the Chief

Fellow members of the First Pacific Community,

As the year 2021 winds down to a close, signalling an end to our 40th year, we have much to reflect on, but much to be proud of. After 40 years, we might expect to see that the Group is running along smoothly with steady income from businesses built up over the decades. All this is true: Indofood has been producing instant noodles and other popular food products for decades, and PLDT remains the largest telco in the Philippines, just as it was about a century ago. Both Companies continue to deliver strong and steady earnings and growth. Metro Pacific is the flagship infrastructure company of First Pacific.

What sets us apart is our ability to innovate over the years. Indofood has entered the global food stage with the acquisition of Pinehill, a business operating halfway around the world. It continues to expand into new product ranges, building out its domestic snacks business into a full spectrum offering. PLDT is leading the way into 5G services and in the expansion of its Fiber network to homes and enterprises. It is as well branching out into providing data services to hyperscalers in cooperation with Meralco, and building its digital financial services business with Maya Bank, which has obtained a digital banking license in the Philippines. Among our new initiatives, PacificLight Power has joined a consortium to build a 100MW-equivalent solar farm in Indonesia which will export its electricity to increasingly green energyhungry Singapore. Not to be outdone, PacificLight Power’s biggest shareholder — Meralco — is fast building out its own renewable power plants in the Philippines, with a five year goal of 1,500MW of renewable energy.

Nearly all of our Group companies have continued to deliver earnings growth during 2021. First Pacific itself had its second-highest ever first-half earnings and is on course to set a new full-year record profit in the next few years on current trends.

As you review the varied interesting stories in this edition of The View, join me in taking pride in our achievements over the past four decades, and the successes we are building with new initiatives today. I am deeply appreciative of all that you have done, and continue to do, to build the terrific businesses we have under the First Pacific banner.

Finally, in keeping with the festive season, may I wish all of you the best of Christmas 2021.

M V P