Philippine Digest: Landbank eyes majority stake in PDS; Ayala teams up with Eton

Government-owned Land Bank of the Philippines seeks to acquire majority stake in Philippine Dealing System Holdings to increase profits while property giants Ayala Land and Eton Properties are co-investing P53 billion in a township project.

Landbank seeks to acquire majority stake in PDS Holdings

State-run lender Land Bank of the Philippines (Landbank) has expressed interest to acquire up to 66.67 percent in fixed-income bourse Philippine Dealing System Holdings Corp (PDS Holdings), according to an Inquirer report.

Landbank’s interest in PDS Holdings, where it currently owns 1.56 per cent, was evident in the letter forwarded by president and chief executive Alex V. Buenventura to the bank’s board of directors on 16 January.

Buenaventura recommended that Landbank acquire at least 66.67 percent of PDS Holdings, saying purchasing PDS shares could be a profitable investment for the lender.

The acquisition will increase Landbank’s profits and accelerate development of capital markets in the country, he said.

The Philippine Stock Exchange currently owns 61.03 percent in PDS Holdings.

Ayala Land, Eton Properties team up in $1 billion township investment

Listed property giant Ayala Land Inc (ALI) and Eton Properties Philippines Inc (EPPI) of tycoon Lucio Tan have formed a 50-50 joint venture to develop a township with P53 billion ($1 billion) worth of investment.

The project covers a 35-hectare estate in the cities of Quezon and Pasig. To be named ParkLinks, the township is envisioned to be the “greenest urban estate” that offers residential, office, and commercial spaces.

ALI and EPPI formed ALI Eton Property Development Corp, a 50-50 joint venture, to develop the first phase of the project.

Also Read:

TCS sells PDS Holdings stake to Philippine Stock Exchange for $3m

Philippine developer Ayala Land takes majority stake in Malaysia’s MCT

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.