Philippine corporate giant, San Miguel Corp. (SMC), has been diversifying from its traditional business of food and beverages. It has been expanding to other areas such as road projects and power generation. Because of this, the company is looking to sell a minority stake in its main businesses to raise
funds which will be used on their diversification prospects.
Ferdinand Constantino, SMC spokesperson, said they are selling a
portion their equity stake in San Miguel Pure Foods Co. Inc., Ginebra
San Miguel Inc., as well as its packaging international beer
operations, where they are expecting to raise $600 million.
On top of the planned asset sale, the company is also in negotiation with some banks where it hopes to tap a $600-million three-year loan facility to funds its ongoing diversification.
My 2 philippino maids told me, "Dun ever invest in Philippines"
http://malampaya.com/
SINGAPORE HAS NO FOREIGN CURRENCY RESERVES !!!!
The PHILIPPINES has OIL and NATURAL GAS RESERVES in the SPRATLY
ISLANDS...WORTH BILLIONS OF U.S. DOLLARS
A milestone in Philippine economic history, Malampaya is the first undertaking of its kind, employing state-of-the-art water technology to draw natural gas from deep beneath Philippine waters and to bring it to market. But more than technology and machines, the people who displayed commitment and determination amidst countless challenges working against a backdrop of political and economic uncertainty recount how they played a role in enabling a monumental project come to fruition.