Philippine Digest: SBS acquires land parcel; PLDT inks $28.5m pact with Huawei

Visual from the company website

Listed firm SBS Philippines is acquiring a 4.7-hectare property for $10.4 million while telecommunications firm PLDT has partnered with Huawei in a $28.5 million deal

SBS Philippines acquires 4.7-hectare property from Coca-Cola

Philippine-listed chemical trading and distribution firm SBS Philippines Corp (SBS) is acquiring a 4.7-hectare warehouse facility complex from a company majority owned by Coca Cola for P520 million ($10.42 million).

In a disclosure to the Philippine Stock Exchange, SBS said its subsidiary, Lence Holdings Corporation (LHC), has entered into a binding commitment with The Coca Cola Export Corporation – Philippine Branch and its related parties for the acquisition of warehouse facilities and property lot located at Silangan Industrial Park in Barangay Mapagong, Calamba City, Laguna.

LHC will purchase 100% equity interests of Benesale Land Inc (BLI), the owner of the 4.7-hectare parcel of land, on which the warehouse facility complex stands. BLI is 60% owned by Coca-Cola Affiliated Companies in the Philippines Retirement Plan and 40% by The Coca-Cola Export Corporation – Philippine Branch.

The acquisition involves a combination of a stock purchase of the company owning the property lot and an asset purchase of the buildings, improvements and machinery of the warehouse facility.

PLDT inks $28.5m partnership deal with Huawei

Listed Philippine telecommunications and digital services giant PLDT Inc has sealed a $28.5-million agreement with China’s Huawei Technologies Co to overhaul the company’s wireless service delivery platforms.

PLDT informed the stock exchange that its partnership with Huawei is part of its $50-billion capital expenditure programme for this year to improve its fixed and wireless infrastructure, and information technology systems.

“This partnership will enable PLDT Group’s wireless services under the brands PLDT, Smart, Sun and TNT to become much more agile, efficient and resilient in developing and delivering a growing array of digital services,” said PLDT Chairman and CEO Manuel V. Pangilinan.

Also Read:

SBS Philippines’ unit acquires stake in HK-based Joune Holding

Philippines: PLDT digital unit may bring in Chinese partner

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.