First Pacific Company Limited () is a
Hong Kong
Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...
-based
investment management
Investment management is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified investment goals for the benefit of investors. Investors may be institut ...
and
holding company
A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...
with
operations located in
Asia
Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an area ...
. It involves
telecommunications
Telecommunication is the transmission of information by various types of technologies over wire, radio, optical, or other electromagnetic systems. It has its origin in the desire of humans for communication over a distance greater than that fe ...
,
consumer
A consumer is a person or a group who intends to order, or uses purchased goods, products, or services primarily for personal, social, family, household and similar needs, who is not directly related to entrepreneurial or business activities. T ...
food products
Food is any substance consumed by an organism for nutritional support. Food is usually of plant, animal, or fungal origin, and contains essential nutrients, such as carbohydrates, fats, proteins, vitamins, or minerals. The substance is inge ...
and
infrastructure
Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and priv ...
.
History
* 1981: First Pacific Finance Limited was founded as a financial services provider in Hong Kong. (deposit-taking company or aka finance house). Start-up capital was HK$7 million (US$0.9 million) with a total staff of six (6) in a 500 square feet (50 square meters) office in Central, Hong Kong. Original name was Overseas Union Finance Limited (OUF)
* 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. (using Shanghai Land of the Kadoorie Family as the listed shell); 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 (System One for electronic appliances and Sports Authority for sporting goods)
* 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 (Maynilad) and hospital (Makati Medical Center) through MPIC. Listed Indofood's plantations businesses through IndoAgri. IndoAgri acquired Lonsum (plantations)
* 2008: First Pacific made its first investments in mining (Philex), and in toll roads (MPTC) through MPIC. MPIC increased investment in Maynilad. Indofood added dairy business through the acquisition of Indolakto
* 2009: Invested in electricity distribution (Meralco) through PLDT and MPIC. Increased investment in Philex
* 2010: Increased investments in Meralco through Beacon Electric (PLDT and MPIC), 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 (oil and gas exploration) and SIMP (plantations)
* 2012: Increased investments in Meralco through Beacon Electric (PLDT and MPIC), in Philippine Hydro (PH) 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 (First Pacific and MPIC) acquired 29.45% of Don Muang Tollway; FP Natural Resources (First Pacific and IndoAgri) acquired 34.0% of Roxas Holdings; FPM Power (First Pacific and Meralco) 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 (First Pacific and IndoAgri) and its Philippine affiliate increased investment in Roxas Holdings to 50.9%
* 2016: Metro Pacific Holdings, Inc. ("MPHI", a Philippine affiliate of First Pacific) sold 4.1% diluted interest in MPIC to GT Capital Holdings, Inc. ("GT Capital") 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
Businesses
Indonesia:
*
Indofood Sukses Makmur Tbk
Philippines:
*
Metro Pacific Investments Corporation
Metro Pacific Investments Corporation (MPIC) is a Philippine-based unit investment holding company of First Pacific Company Limited through Metro Pacific Holdings, Inc. MPIC through its subsidiaries, provides water, sanitation, and sewerage se ...
*
PLDT
PLDT, Inc., formerly known as the Philippine Long Distance Telephone Company ( fil, Kompanya ng Teleponong Pangmalayuan ng Pilipinas), is a Philippine telecommunications, internet and digital service holdings company. It is one of the country's ...
* Philex Mining Corporation
* Roxas Holdings Inc.
Malaysia:
*
QAF Limited
Singapore:
*
PacificLight
PacificLight is a Singapore-based power generator and electricity retailer. It runs an 800MW plant, operated by PacificLight Power Pte Ltd, which uses Liquefied Natural Gas (LNG) as its primary fuel. In 2015, PacificLight generated 9% of Singaporeâ ...
Power Pte.Ltd
Former businesses
*
Tech Pacific
Tech Pacific functioned as an Asian-Pacific IT wholesale distributor with offices throughout Australia, New Zealand, Singapore, Malaysia, Thailand, India and Hong Kong.
Jim Kennedy founded Tech Pacific in Melbourne, Australia in 1985. The org ...
(1989–1997) - sold to
Hagemeyer
Hagemeyer is a business-to-business (B2B) distribution services group focusing on the markets for electrical materials, safety and other maintenance, repair and operations (MRO) products in Europe, North America and Asia-Pacific. It was bas ...
* Pacific Link (1988–1997) - sold to
Hong Kong Telecom
HKT Limited (), also known as Hong Kong Telecom (), is one of the largest telecommunications companies of Hong Kong. It has a dominant position in fixed-line, mobile, IDD and broadband services in Hong Kong. HKT Group is a subsidiary of PCCW sin ...
*
Hibernia Bank (1982–1985) - sold to
Security Pacific Bank
Security Pacific National Bank (SPNB) was a large U.S. bank headquartered in Los Angeles, California. It was acquired by Bank of America in 1992.
History
On September 1, 1868, Hellman, Temple and Co. opened their first bank branch in Los ...
*
First Pacific Bank
First Pacific Bank Limited was a bank based in Hong Kong. It was a wholly owned subsidiary of the investment holding company FPB Bank Holding Company Limited (FPB Bank Holdco). Its headquarters were in the First Pacific Bank Centre in Wan Cha ...
(1992–2000) - sold to
Bank of East Asia
The Bank of East Asia Limited, often abbreviated to BEA, is a Hong Kong banking and financial services company, headquartered in Central, Hong Kong. It is currently the largest independent local Hong Kong bank, and one of two remaining family ...
See also
*
Salim Group
The Salim Group is Indonesia's biggest conglomerate and refers to companies where the Salim family held majority ownership. Its assets include Indofood Sukses Makmur, the world's largest instant noodle producer; Indomobil Group, one of Indones ...
References
External links
First Pacific Company Limited
{{Authority control
Companies listed on the Hong Kong Stock Exchange
Financial services companies established in 1981
Former companies in the Hang Seng Index
Conglomerate companies of China
Conglomerate companies of Hong Kong