First Pacific
 | |
| Company type | Listed company |
|---|---|
| SEHK: 142 | |
| Industry | Investment Management |
| Founded | 1981 |
| Founder | Mr. Liem Sioe Liong |
| Headquarters | , |
Area served | Hong Kong, Philippines, Indonesia |
Key people | Anthoni Salim (Chairman) Manuel V. Pangilinan (Managing Director, CEO) |
| Total assets | USD 8.679 billion  2012 [1] |
First Pacific Company Limited (Chinese: 第一太平有限公司) is a Hong Kong-based investment management and holding company with operations located in Asia. It involves telecommunications, consumer food products and infrastructure.[2]
History
as of 2011 [3]
- 1981: First Pacific Finance Limited was founded as a financial services provider in Hong Kong.
- 1982: Acquired Hibernia Bank in San Francisco, United States. First Pacific International established to hold the Group's marketing and distribution businesses
- 1985: Invested in First Pacific Davies in Hong Kong
- 1987: Acquired Hong Nin Savings Bank in Hong Kong from British Hong Kong Government
- 1988: Sold Hibernia Bank. First Pacific Holdings and First Pacific International merged to form the currently listed First Pacific Company. Acquired Pacific Link. First investment in telecoms with the purchase of a 50% interest in Pacific Link, Hong Kong. Acquired Dragon Seed Department Store in Hong Kong then sold it to Tokyu the same year,[4] set up retail operations (System One for electronic appliances and Sports Authority for sporting goods)
- 1989: Acquired Imagineering Australia (named Tech Pacific thereafter)
- 1992: Acquired Far East Bank and merged with Hong Nin Savings Bank, renamed and listed as First Pacific Bank in Hong Kong
- 1996: First Pacific became a constituent of the Hang Seng Index (blue chip stock). Smart Communications launched cellular services in the Philippines. NTT of Japan invested in Smart Communications as a strategic investor. Acquired PDCP Bank (later renamed as 1st e-Bank in 2000 until it was sold to Banco de Oro in 2002[5][6]) 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.
- 1997: Sold Tech Pacific to Hagemeyer[7] and Pacific Link to Hong Kong Telecom[8]
- 1998: Acquired PLDT in the Philippines and Indofood in Indonesia. Concluded acquisition of Smart Communications by PLDT
- 2000: Sold First Pacific Bank to Bank of East Asia
- 2001: Removed from a constituent of the Hang Seng Index.[9]
- 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
- 2010: Invested in Meralco through Beacon Electric (PLDT and MPIC), in hospitals through MPIC and in Philex.
- 2015: Together with Wilmar International, acquired Goodman Fielder of Australia and New Zealand for $1.3 billion Australian dollars.
Businesses
Australia:
- Goodman Fielder (50%)
Indonesia:
- Indofood (50.1%)
Philippines:
- Metro Pacific Investments Corporation (52.1%)
- PLDT (25.6%)
- Philex Mining Corporation (31.2%)
- Roxas Holdings Inc.
- First Coconut Manufacturing Inc.
Singapore:
Former businesses
- Tech Pacific (1989-1997) - sold to Hagemeyer
- Pacific Link (1988-1997) - sold to Hong Kong Telecom
- Hibernia Bank (1982-1985) - sold to Security Pacific Bank
- First Pacific Bank (1992-2000) - sold to Bank of East Asia
See also
References
- ^ First Pacific FY 2012 Results Presentation Archived 2016-03-04 at the Wayback Machine retrieved May 3, 2013
- ^ "irasia.com - First Pacific Company Limited". Retrieved 2 December 2016.
- ^ Key Corporate Events Archived 2013-04-11 at the Wayback Machine retrieved May 2, 2013
- ^ "History of Tokyu Department Store Co., Ltd. – FundingUniverse". Retrieved 2 December 2016.
- ^ "SM's Banco de Oro to buy First e-Bank". The Philippine Star. September 28, 2002. Retrieved September 28, 2002.
- ^ "Banco de Oro takes over First e-Bank operations". The Philippine Star. October 25, 2002. Retrieved October 25, 2002.
- ^ "History of Hagemeyer N.V. – FundingUniverse". Retrieved 2 December 2016.
- ^ "Hong Kong Telecom agrees to buy Pacific link for US $625 million". 1 January 1998. Archived from the original on 25 October 2012. Retrieved 2 December 2016.
{{cite journal}}: Cite journal requires|journal=(help) - ^ History of First Pacific Archived 2008-12-01 at the Wayback Machine