First Pacific Co Ltd (0142.HK)

0142.HK on Hong Kong Stock

11 Dec 2017
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Latest Key Developments (Source: Significant Developments)

First Pacific Co updates on Philex operations after DENR mining contracts cancellation news
Wednesday, 15 Feb 2017 

First Pacific Co Ltd <0142.HK>: Philex unit developing a copper and gold project located in Surigao Del Norte in Mindanao Province in Philippines . Philex received unofficial information that DENR listed 75 mineral production sharing agreements for cancellation . MPSA of Silangan Mining, relating to its copper and gold project in silangan, was included in list .Silangan mining has not, to date, received any cancellation order.  Full Article

First Pacific Co updates on sale on interest in China Minzhong Food Corporation<0142.HK>
Wednesday, 7 Sep 2016 

First Pacific Co Ltd <0142.HK>: Discloseable and connected transaction: implementation agreement in relation to sale of interest in China Minzhong Food Corporation Limited <0142.HK> . Indofood, CMZ BVI and marvellous bvi entered into the implementation agreement . Indofood, CMZ BVI and marvellous BVI have agreed to amend the structure of the transaction contemplated by the mou . Says group is not expected to recognize any significant gain or loss from the transactions . MOU contemplated sale by Indofood to CMZ BVI of 347 million CMZ shares at S$1.20 . Says gross proceeds from the transactions are expected to be approximately S$651.9 million . First Pacific Co - will use cash proceeds from transaction of approximately S$416.4 million for repaying loan borrowed to finance acquisition of CMZ .  Full Article

Manila Electric's first-half core income down 10.8 pct
Monday, 25 Jul 2016 

Manila Electric Co : Says 2016 core net income seen at 19 billion pesos . Says H1 core net income down 10.8 percent y/y . Says H1 net income 10.77 billion pesos . Says H1 net income down 8.3 percent year/year Further company coverage: [MER.PS] (Reporting by Erik dela Cruz and Neil Jerome Morales) ((neiljerome.morales@thomsonreuters.com;)).  Full Article

First Pacific says Metro Pacific and PLDT's unit entered into Beacon acquisition agreement
Monday, 30 May 2016 

First Pacific Co Ltd <0142.HK>: Proposed acquisition by Metro Pacific Investments Corporation of interest in beacon electric asset holdings, inc.: discloseable transaction; proposed acquisition by Philippine Long Distance Telephone Company of additional spectrum . MPIC and PCEV entered into the beacon acquisition agreement . Deal for aggregate purchase price of 26.2 billion pesos . MPIC agreed to purchase, and PCEV agreed to sell, Beacon acquisition shares, representing a 25% economic interest in Beacon . Beacon will not become a subsidiary of the group as a result of the beacon acquisition. . PLDT and Globe have agreed to purchase the spectrum holding companies and related shareholders loans on a 50:50 basis . Says total purchase price for spectrum acquisition of sale shares and the sale loans is 52.8 billion pesos .  Full Article

First Pacific Co Says MPIC enters into MPIC subscription agreement with Gt Capital<0142.HK>
Friday, 27 May 2016 

First Pacific Co Ltd <0142.HK>: Says MPIC entered into the MPIC subscription agreement with Gt Capital . Says pursuant to mpic subscription agreement gt capital has agreed to subscribe for 3.6 billion new mpic common shares . Deal for aggregate subscription price of 22.0 billion pesos . Says MPHI entered into the MPIC share purchase agreement with Gt Capital . Pursuant to mpic share purchase agreement gt capital has agreed to purchase, 1.3 billion MPIC common shares currently held by MPHI . Says MPIC share purchase agreement for an aggregate purchase price of 7.9 billion pesos .  Full Article

BRIEF-First Pacific Co posts ‍profit attributable of $133.1 mln​

* HY ‍profit attributable to owners of parent increased by 4.3 percent to US$133.1 million​