GT Capital eyes PPP projects
MANILA, Philippines - GT Capital Holdings Inc., the investment arm of the Metrobank Group, is looking to participate in the Public-Private Partnership (PPP) projects of the national government, a company official said.
First Metro Investment Corp. (FMIC) and Global Business Holdings Inc. (GBHI) president Francisco Sebastian told reporters on the sidelines of Metrobank’s 50th anniversary celebration Wednesday that GT Capital is eyeing investment opportunities in all sectors.
“We are opportunistic. We’re looking at opportunities where we can come in,” he said.
“We’re looking at all projects. We’re very busy looking actively at different projects, hopefully those related to what we already have,” he added.
Both FMIC and GBHI are subsidiaries of GT Capital.
According to Sebastian, they would continue to invest in power-related projects, particularly in Luzon and the Visayas.
GT Capital conducts its power generation business through its 39 percent Global Business Power Corp. (GBP), a holding company that, through its subsidiaries, is a leading independent power producer in the Visayas, with a combined gross dependable capacity of 627 megawatts (MW). It owns nine power generation facilities in the Visayas and Mindoro Island.
“It’s growing. It’s now filling up. We still have available power but we think in three years’ time, there will be a need to study (opportunities),” Sebastian said.
GT Capital chairman Arthur Ty earlier said the group is constantly in search of high-growth projects with the aim of continuing its successful business model of forging strategic alliances with global industry players.
Its global partners include Japan’s largest automaker Toyota Motor, AXA Group of France, ANZ, Formosa, Mitsui, Orix and Sumitomo.
Ty said GT Capital is ready to take on the challenges as it prepares for opportunities it can exploit in its existing portfolio which include banking, real estate, power generation, automotive and insurance.
“Expansion of the economic landscape translates to greater requirements for financial services, stronger end-user demand for real estate, higher automobile purchases, increased power consumption, and the pressing need for life insurance -GT Capital will be there to reap the gains. As the economy continues to grow, so will we,“ Ty said.
Ty said the company sustained its upward trajectory in the second quarter with core business units Metropolitan Bank & Trust Co. GBP, Federal Land, Toyota Motor Philippines and Philippine AXA Life Insurance Corp. exhibiting significant growth.