MANILA - Hong Kong-based First Pacific Co. Ltd. is looking to invest in other countries across Southeast Asia since its Philippine businesses now comprise 80% of its assets.

"We should diversify," said First Pacific managing director Manuel Pangilinan.

Pangilinan noted, however, that they remain committed to growing their local businesses under  Philippine Long Distance Telephone Co. and Metro Pacific Investments Corp. (MPIC), which he chairs.

He noted that MPIC alone has earmarked P60 billion for new and existing projects, including the possible modernization of Manila's North Harbor, over the next 5 years.