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Q: Who’s Behind SLEX Tollway? A: Same Guys Behind Meralco and Maynilad

August 20, 2010

They control electricity, they control water, they control telecommunications – and more recently – they now control roads – that’s what you get for privatizing without liberalization – monopolies and vested interests in bed with government.

Read on – and pay attention.

-oOo-

http://business.inquirer.net/money/topstories/view/20100818-287544/Toll-operator-nets-P5606M-in-6-months

THE TOLL road subsidiary of Manuel Pangilinan-led Metro Pacific Investments Corp. posted a slightly lower net profit in the first half as the company invested in various programs meant to improve its facilities.

BUSINESS PROFILE: http://www.reuters.com/finance/stocks/companyOfficers?symbol=MPI.PS

In a disclosure, Metro Pacific Tollways Corp. (MPTC) said its net income reached P560.6 million in the first six months, 7.7 percent lower than last year’s P607.6-million profit.

BUSINESS PROFILE: http://www.reuters.com/finance/stocks/companyOfficers?symbol=FPH.PS

MPTC operates the North Luzon Expressway and the Subic-Clark-Tarlac Expressway.

Who are these companies? Who own these companies?

Metro Pacific Tollways Corporation (MPTC)

  • Metro Pacific Tollways Corporation (MPTC), formerly First Philippine Infrastructure, Inc (FPII), is a Philippines-based holding company.
  • The Company acts as a holding company for the shares of Benpres Holdings Corporation (Benpres) and First Philippine Holding Corporation (FPHC) in First Philippine Infrastructure Development Corporation (FPIDC).
  • FPIDC is the main vehicle used by the Lopez Group to pursue its toll road infrastructure projects in the Philippines. FPIDC is a subsidiary of Benpres and FPHC.
  • FPIDC owns 67.10% of Manila North Tollways Corporation (MNTC), 46.00% of Tollways Management Corporation (TMC) and 100.00% of Luzon Tollways. MNTC’s primary purpose is to engage in, and carry on, a construction and contracting business involving tollways, its facilities, interchanges and related works, including the operation and maintenance thereof, or otherwise engage in any work upon roads, highways, bridges, buildings and structures of all kinds.

Benpres Holdings

Benpres Holdings Corporation (Benpres) is an investment holding company. Benpres is a 54.61% owned subsidiary of Lopez, Inc. The company’s businesses are investment holdings and broadcasting and entertainment. Broadcasting and entertainment is further segmented into three business activities: broadcasting, cable and satellite, and other businesses. The broadcasting segment is principally the television and radio broadcasting activities which generate revenue from sale of national and regional advertising time. Cable and satellite business primarily develops and produces programs for cable television, including delivery of television programming outside the Philippines through its direct to home (DTH) satellite service, cable television channels and blocked time on television stations. Other businesses include movie production, consumer products and services. It disposed its interest in roads and tollways business on November 13, 2008.

First Philippine Holdings Corporation

First Philippine Holdings Corporation (FPHC) is a holding company. The Company, along with its subsidiaries, is engaged in power generation and power related activities, roads and tollways operations, manufacturing, and others, including investments holdings, construction, real estate development, securities transfer services and financing. FPHC is 43.08% owned by Benpres Holdings Corporation. Its subsidiaries include First Gen Corporation, First Philippine Utilities Corporation, First Philippine Electric Corporation, First Philippine Realty Development Corporation and First Balfour, Inc.

– oOo –

It’s just a matter of time, when even the air you breath in the Philippines will be privatized by the oligarchs.

These are people educated in Wharton and Harvard who instead of making the Philippine economy efficient have instead turned the Philippine economy into a plantation-type economy where oligarchs control the reins of the economy – as will be explained by Milton Friedman in the youtube clip on the “Enemies of the Market”.

These also points out why we need to spread the word about liberalization and charter change even faster – while there is still some democratic space left for undertaking macroeconomic reforms that stimulate competition, and eliminate equity restrictions on foreign-owned majority shares.

Related Video Clips

Milton Friedman Talks About Enemies of Markets

httpv://www.youtube.com/watch?v=Xp2eqQ8Msbs

Milton Friedman Discusses Government Regulations

httpv://www.youtube.com/watch?v=cfcUblb3i4I

Milton Friedman Talks About Free Market Countries

httpv://www.youtube.com/watch?v=l-oWOCwpNtw

Milton Friedman on Political and Economic Freedom

httpv://www.youtube.com/watch?v=ffFZ2T2rw_M

20 Comments
  1. UP nn grad permalink

    Reversing the 60/40 (60% Filipino) to 40/60 (60% foreign) will means more foreign-money capitalization.

  2. Hyden Toro permalink

    Control of the economy was the main purpose Noynoy Aquino, Conjuangco-Aquino and the Oligarchs Lopez
    business network; worked very hard to delude the Filipino people to elect Noynoy Aquino as President. you can see the DOTS connecting now…with Media already bought; psuedo Journalists, in place; psuedo Bloggers that are bought blogging the Websites, to confuse people. What are we in Power for? At least, the late Dictator Marcos was seen as a Dictator, controlling your life. These people Hide in the Shadows of EDSA, Democracy, “Good government, etc…They are like Pickpockets, picking and stealing your life, withourt you knowiing it. All they want is to: MONOPOLIZE THE ECONOMY OF THE PHILIPPINES. This is very dangerous…

  3. J_ag permalink

    It is so patently obvious that the author of the above post is totally clueless about the state of the private-public partnerships ongoing in the Philippines.

    Firstly Metro Pacific Investments – MPIC – (the investment arm/private equity vehicle of the Salim family) have taken over both the NLEX and SCTEX

    http://www.mntc.com/

    “The NLEX represents the private sector’s answer to the government’s call, taking on the challenge of replacing the weather-beaten and rapidly deteriorating 30-year old North Luzon Diversion Road with a modern expressway equipped with cutting-edge communications and traffic management systems.”
    “MNTC was formerly owned by the Lopez Group through its infrastructure arm: the First Philippine Infrastructure Development Corporation (FPIDC). MPIC later bought FPIDC, making MPIC the majority owner of MNTC. The other MNTC shareholders are: Egis Projects S.A. of France, reputedly the world’s biggest tollways operator; Leighton Asia Ltd. Of Australia, a civil works specialist with an extensive track record in toll road construction; and Philippine National Construction Corporation (PNCC), the state-owned company that holds the franchise for the operation of the expressway.”

    Meanwhile the SLEX tollway increase was a direct result of the agreement between the concessionaires of the extension of the SLEX (Malaysian investors) for the rehabilitation and extension of the SLEX to Calamba and eventual link up with the Star Tollway to Batangas.

    http://www.bworldonline.com/main/content.php?id=16161

    Meanwhile the SKYWAY project previously initiated by CITRA, is also projected to be taken over by MPIC. (LINK UP with the SLEX and NLEX)

    One distinct feature of these road projects is the heavy involvement of foreign principals. Indonesian, French, Malay and Australian.

    BONG V. should also be cautious in simply cutting and pasting without bothering to check on the actual status of corporations. The Lopez group has already given up control of Meralco, Maynilad and their investments in road projects to the Salim Group.

    Before getting into discussions that are way above your pay grade it pays to double check facts before ranting about economic theories…

    The events of the last three years have done a lot to discredit the a slew of economic theories both from the left and recently from the right.

    The simple fact about the Philippines is this – Geographical, resource and historical forces determine the state of Philippine society.

  4. UP nn grad permalink

    Ja_G: Are you saying that the😯 “60%-Filipino” is not true for SLEX?

  5. @UPnn grad – exactly😉

  6. GabbyD permalink

    no, what this means is that, thru shrewd legal means, foreigners can indirectly be unhindered by ownership requirements. (here i mean the salim group)

  7. @gabbyD – the constitution allows 40% foreign equity.

  8. http://www.reuters.com/finance/stocks/companyOfficers?symbol=TOL.PS

    SUMMARY
    Name Age Since Current Position
    Pangilinan, Manuel 63 2008 Chairman of the Board
    Fernandez, Ramoncito 2008 President, Chief Executive Officer, Director
    Lizo, Christopher Daniel 2009 Chief Financial Officer, Director
    Fider, Alex Erlito 2008 Corporate Secretary
    Lim, Jose Ma. 2008 Director
    Franco, Rodrigo Director
    del Rosario, Albert 2008 Independent Director
    Medalla, Felipe 2009 Independent Director
    Sicangco-Villanueva, Arlyn 2009 Independent Director

    ****

    Metro Pacific Tollways Corp Unit Awarded SCTEx Concession-Philippine Daily Inquirer
    Wednesday, 9 Jun 2010 08:00pm EDT
    Philippine Daily Inquirer reported that Metro Pacific Tollways Corp’s Manila North Tollways Corp unit has been awarded the concession to lease, manage, operate and maintain the Subic-Clark-Tarlac Expressway (SCTEx). The concession was awarded by the toll road’s owner and operator, Bases Conversion and Development Authority.

    Metro Pacific Tollways Corp Subsidiary Bags PHP 17 Billion Elevated Road Project
    Sunday, 6 Jun 2010 08:00pm EDT
    Metro Pacific Tollways Corp announced its wholly owned subsidiary, Metro Pacific Tollways Development Corporation, has bagged a project from the Department of Public Works and Highways for the construction and management of a 13.2-kilometer elevated road in Metro Manila. The road, which is referred to as the ‘Connector Road’, is to run via railway tracks in the center of the capital, from the end of the North Luzon Expressway at C3 to the beginning of Skyway 1 at Buendia. The project has a projected cost of PHP 17 billion.

    Metro Pacific Tollways Corp Delays Filing of Q1 FY 2010 Report
    Sunday, 16 May 2010 08:00pm EDT
    Metro Pacific Tollways Corp announced it needs to delay the filing of its financial report for the period ending March 31, 2010 for another five days after the May 17, 2010 deadline.

    Metro Pacific Tollways Corp Plans to Increase Stake in Citra Metro Manila Tollways-The Manila Times
    Wednesday, 5 May 2010 08:00pm EDT
    The Manila Times reported that Metro Pacific Tollways Corp plans to raise its stake in Citra Metro Manila Tollways Corp from 3% to 30% within the year 2010.

    Metro Pacific Tollways Corp to Offer New Shares-BUSINESSWORLD
    Sunday, 7 Mar 2010 07:00pm EST
    BUSINESSWORLD reported that Metro Pacific Tollways Corp plans to sell new shares to the public to fund its tollway ventures by increasing its public float by around 25 percent to 30 percent.

    Metro Pacific Tollways Corp Plans Loan and Joint Venture
    Tuesday, 23 Feb 2010 07:00pm EST
    Metro Pacific Tollways Corp announced it is seeking a joint venture with potential Japanese partners for the NLEX-SLEX Connector Road, which will be a 13-kilometer expressway that will connect the soon-to-be constructed Segment 10 of Manila North Tollways Corp. to the Buendia segment of SKYWAY using the Philippine National Railways’ road alignment. The Company also announced it is planning a possible loan from the Japan International Cooperation Agency for its funding. The project could cost as much as PHP 16.3 billion.

    Metro Pacific Tollways Corp Declares Cash Dividend
    Wednesday, 17 Feb 2010 07:00pm EST
    Metro Pacific Tollways Corp announced it is to pay cash dividends of PHP 0.15 per share on or before March 22, 2010, to shareholders of record on March 5, 2010.

    First Philippine Infrastructure, Inc. Changes Name To Metro Pacific Tollways Corporation
    Tuesday, 14 Apr 2009 08:00pm EDT
    First Philippine Infrastructure, Inc. announced that it has changed its name to Metro Pacific Tollways Corporation will be reflected on the exchange’s computer system On April 22, 2009. The Company’s stock symbol will become TOL.

    First Philippine Infrastructure, Inc. Signs MOU With Philippine National Railways For Infrastructure Opportunities
    Thursday, 29 Jan 2009 07:00pm EST
    First Philippine Infrastructure, Inc. (FPII) announced that the Company and Philippine National Railways (PNR) executed a Memorandum of Understanding (MOU) to explore mutually beneficial transportation infrastructure investment opportunities. Under the MOU, PNR and FPII agreed to conduct jointly a pre feasibility study for an alternative facility that will connect the North and South Luzon Expressways by way of an integrated rail and tollway project, utilizing the existing PNR Line right-of-way that cuts across Metro Manila.

    Metro Pacific Investments Corp. Completes Acquisition Of First Philippine Infrastructure Inc.
    Wednesday, 12 Nov 2008 07:00pm EST
    Metro Pacific Investments Corp. announced that it has completed the acquisition of 99.8398% of First Philippine Infrastructure Inc.

  9. juan benito permalink

    bobong marcos for 2016.

    ang buhay ay parang gulong lamang.
    paikot ikot, pasikot sikot.

  10. Jack permalink

    The thing is PH is not alone. The control of the few oligarch is well underway all around the world including US and EU.. Rothschild and Rocker fellers control the economy of America. In EU its the royal families. The answers lies in conspiracy research. Its a conspiracy within a conspiracy as pointed out in the post that Aquino was well groomed by the Oligarch to govern and fool the people…its the same in America too… 95% of the wealth in America is controlled by less than 1% of US population.

    Look at Obama he is the direct relative of Bush and Cheney. All american presidents were directly related to European families. Its a fact. Don’t believe me ? There is more…

    How about i told you that Obama is related to Brad Pitt, Angelina Jolie, Marilyn Monroe, Celine Dion, Madonna, Tom hanks, Bush, Cheney, even Hugh Hefner, princess Diana and president Lincoln…They are all Cousins. Too good to be true right….don’t worry we have the VP wife Lynn Cheney confirming and researching it through genealogy..watch the video here to be blown away…also search ” bush family tree ” in Google…its a fact

    ***** Search illuminati in google…all answers will be clear.

    There are majority of Good people and then there are few bad people who are spread around the world controlling humanity….Nothing will change in PH or India or US..the same family still rules the world.

  11. Nyet, nyet, nyet, abolish the restrictions altogether! You’ll get even more capitalization!

  12. Hyden Toro permalink

    I’ve handle corporations, myself. It is unfortunate that I know what I’m talking about. They are not just the people in this planet Earth who have: education, expertise, corporate, experince, etc….I am telling the truht…and this truth must reach to the attention of fellow Filipinos, who love their country….I stand for my comments: “bato bato sa langit, ang tamaan ay huwag magagalit.” “sana buhol buhol, ang bukol ninyo.”

  13. Hyden Toro permalink

    I would like to know the names of those people in the SHADOWS – working for the KamagAnak, Inc. These people are the ones pulling the strings.. They do:promotions; disinformations;misinformations; distractions; diversions; etc…recent move for distraction was the: Whore Move – not successful; people not interested with the Whore anymore…others was the: large Cory Aquino picture move – diversion – not successful; Saint Cory Aquino, did not have multiplication of cavans of rice miracle… what’s next???

  14. One thing Noynoy got right is that the road for progress is a straight one… Yet the way some of us Filipinos see it, its just a giant wheel of repeating the stupids of history!

    I can predict that they[The Oligarchs] will control almost everything here in the Philippines before ABNOY leaves office… YES WE’RE ALL SO SCREWED

  15. UP nn grad permalink

    GabbyD: It costs money to do the “…shrewd legal means” so that a Salim-group or a ThurberEngineering-Australia can participate in a SLEX or a public-utility project in Pilipinas. That money becomes included among “..the cost🙄 of doing business”. It eventually is paid for by gabbyD, cocoy, Primer Pagunuran and those who pay Pilipinas taxes (of course, to the benefit of a couple of dozen:mrgreen: extra-privileged Filipinos.

  16. This is really scary! An oligarch-controlled economy leads to greediness. These people have only their priorities on optimising their profits, never on the welfare of the employees. If they do not meet their targets, they reduce worker benefits, pay low compensation, shrink their manpower, etc.

    Our lawmakers should act now on economic reforms. If they are really after reducing poverty in this country, they will change the current system.

    I wish our local Media will repeatedly feature those videos from Milton Friedman. It seems that our politicians are not educated and aware of the possible solutions to our economic problems. And if they are, I think they are afraid to face the wrath of the Oligarchs.

  17. This is not new. It’s how our big politically-involved business owners – oligarchs – have been operating. I’ve been reading the book Greed & Betrayal and it describes how the Lopezes have been latching on to politicians since after the war and using these political connections to gain unfair advantages in business. Their patriarch Eugenio Lopez Sr was purported to have said that siding with the right politicians was the way to get ahead in business in this country. They supported Osmena after Quezon, then junked him for Roxas and Quirino later. Roxas died, Quirino became the man, then they junked him, and formed their own party with Carlos P. Romulo at the head. Then they dropped Romulo in the same year and supported Magsaysay. They got Magsaysay to help them foreclose Quirino properties, namely Bolinao Electronics and Alto Broadcasting System, the basis of ABS-CBN. They then got the PHHC lot on Bohol Avenue through questionable means (Is that the ABS-CBN compound now?). The rest you probably know.

    There are still a lot more stories of how shrewd business owners like the Lopezes side with politicians in order to get unfair deals in their favor and just get ahead – leaving the other people who do things “legally” to languish in poverty.

  18. Hyden Toro permalink

    Ever heard of the “New World Order”? or the “Politics of Energy”? World domination is still on the minds of most world leaders. Nothing changed since the time of: Alexander the Great; Roman Emperors; Ottoman Sultans; Germany’s Nazi leader, Adolf Hitler; etc…It is more subtle now; thru the energy/trade issues…”he who controls the fuel/trade; controls the world.”Or, plainly stating: “He who has the GOLD makes the Rules.”

  19. Jett Rink permalink

    I know its quite late, and I’m an antipinoy fan. But MPI as holding company for Benpres? Lopez Holdings is the holding company for all the Lopez related stocks. Metro Pacific Investments has already bought the controlling stakes in Maynilad, SCTEX, and other companies. MPI and MVP doesn’t dabble (obviously that is) in RP politics unlike the Lopezes. Is MVP a bad guy? Compared to the Lopezes, he is a saint.

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