Puneet Varma (Editor)

First Pacific

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Type
  
Listed company

Headquarters
  
Hong Kong

Industry
  
Investment Management

Founded
  
1981

First Pacific httpsuploadwikimediaorgwikipediacommonsthu

Traded as
  
SEHK: 142OTC Pink: FPAFY

Area served
  
Hong Kong, Philippines, Indonesia

Key people
  
Anthoni Salim (Chairman)Manuel V. Pangilinan (Managing Director, CEO)

Total assets
  
USD 8.679 billion 2012

Stock price
  
0142 (HKG) HK$ 5.51 0.00 (0.00%)10 Mar, 4:09 PM GMT+8 - Disclaimer

Subsidiaries
  
Metro Pacific Investments Corporation

Parent organization
  
Overseas Shipholding Group

Founders
  
Manuel V. Pangilinan, Sudono Salim

First Pacific Company Limited (Chinese: 第一太平有限公司) (SEHK: 142, OTC Pink: FPAFY) is a Hong Kong-based investment management and holding company with operations located in Asia. It involves telecommunications, consumer food products and infrastructure. Its chairman is Anthoni Salim (Chinese: 林逢生), an Indonesian Chinese entrepreneur.

Contents

History

as of 2011

  • 1981: First Pacific Finance Limited was founded as a financial services provider in Hong Kong by Mr. Sudono Salim (Chinese: 林紹良), an Indonesian Chinese entrepreneur and Anthoni Salim's father.
  • 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, 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 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.
  • 1997: Sold Tech Pacific to Hagemeyer and Pacific Link to Hong Kong Telecom
  • 1998: Acquired PLDT in the Philippines and Indofood in Indonesia. Concluded acquisition of Smart by PLDT
  • 2000: Sold First Pacific Bank to Bank of East Asia
  • 2001: Removed from a constituent of the Hang Seng Index.
  • 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

    List of businesses owned as of March 24, 2015:

  • Philex Mining Corporation (31.2%)
  • Indofood Agri Resources Ltd. (IndoAgri) (61%)
  • FP Natural Resources (79.2%)
  • Metro Pacific Investments Corporation (52.1%)
  • FPM Power (68%)
  • Indofood (50.1%)
  • goodman fielder (50%)
  • Philippine Long Distance Telephone Company (25.6%)

    • 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

    • References

    First Pacific Wikipedia
    (Text) CC BY-SA