Investment Interests - First Pacific Company Limited holds economic interests of 50.1% in Indofood, 25.6% in PLDT, and 44.6% in MPIC as of March 30, 2022[8]. - The company focuses on investments in fast-growing Asian emerging economies, specifically in consumer food, telecommunications, infrastructure, and natural resources[5]. - First Pacific emphasizes investments in firms with strong market positions and significant cash flow potential[5]. - First Pacific has a strategic focus on acquiring undervalued assets with high growth potential and possible synergies[5]. - The company has invested in Philex Mining Corporation, which is one of the largest metal mining companies in the Philippines, producing gold, copper, and silver[7]. - First Pacific's investment in MPIC includes significant stakes in the Philippines' largest utility and infrastructure companies[7]. Financial Performance - In 2021, MPHI reported revenue of $9,103.2 million, a 27.7% increase from $7,130.5 million in 2020[21]. - The net profit for 2021 was $895.7 million, up from $667.6 million in 2020, representing a 34.1% increase[21]. - The contribution from operations in 2021 was $506.4 million, compared to $409.7 million in 2020, indicating a 23.6% growth[21]. - Basic earnings per share increased to $7.72 in 2021 from $4.65 in 2020, reflecting a 65.5% rise[21]. - The total assets of MPHI reached $620.85 million in 2021, slightly up from $620.12 million in 2020[21]. - The gross profit margin for 2021 was 31.07%, down from 32.37% in 2020[21]. - MPHI's dividend payout ratio was 24.53% in 2021, compared to 25.21% in 2020[21]. - Total assets decreased to $26,566.7 million in 2021 from $26,943.6 million in 2020, a decline of 1.4%[22]. - Net debt reduced to $7,865.5 million in 2021, down from $8,205.6 million in 2020, representing a decrease of 4.1%[22]. - Operating cash flow increased to $1,245.9 million in 2021, compared to $1,036.6 million in 2020, an increase of 20.2%[22]. Strategic Plans and Initiatives - The company plans to expand its power business through investments in new projects and acquisitions, including the acquisition of Indolakto to enhance its dairy product portfolio[20]. - The company plans to distribute dividends of $104.6 million, which is 25% of the recurring profit[25]. - The company aims to optimize its product portfolio, launch new products, and improve customer loyalty to strengthen its market leadership[54]. - The company aims to enhance its corporate social responsibility initiatives, allocating 2% of annual profits towards community development projects[155]. - First Pacific Group maintained a dual mission in 2021 to achieve stable growth while giving back to the community, marking its 40th anniversary[161]. Corporate Social Responsibility - First Pacific's corporate social responsibility initiatives focused on education, environmental protection, and community welfare[160]. - The group provided funding and development plans for digital compatibility and community development projects[160]. - First Pacific Group donated approximately HKD 3 million (USD 384,615) to support vulnerable communities in Hong Kong, Indonesia, and the Philippines affected by the COVID-19 pandemic[162]. - In Indonesia, the Indonesian Buddhist Tzu Chi Foundation distributed over 8 million kilograms of rice to more than 1.6 million families by the end of 2021[163]. - First Pacific Group's fundraising efforts for Typhoon Odette victims in December 2021 raised over PHP 45 million (USD 911,669) to provide essential aid[164]. Governance and Compliance - The company has established a governance framework primarily composed of independent non-executive directors to oversee corporate governance practices[173]. - The company has adopted its own corporate governance code, which is updated in accordance with relevant amendments to listing rules to ensure compliance with international and local best practices[173]. - The company has implemented a whistleblowing policy to assist employees and business associates in reporting any suspected misconduct[177]. - The board of directors consists of ten members, including eight non-executive directors, five of whom are independent non-executive directors, exceeding the minimum requirement[178]. - The company has a board diversity policy that emphasizes the importance of diverse backgrounds, including gender, age, and professional experience[186]. Market and Operational Insights - The company reported a significant increase in revenue, with a year-over-year growth of 15% in Q4 2023, reaching $1.2 billion[151]. - User data showed a 20% increase in active subscribers, totaling 5 million users by the end of the quarter[152]. - New product launches are expected to contribute an additional $200 million in revenue, with a focus on innovative technology solutions[154]. - A strategic acquisition of a regional competitor is anticipated to enhance operational efficiency and increase customer base by 15%[151]. - Research and development investments have increased by 30%, focusing on sustainable technologies and digital transformation[152].

Financial Data and Key Metrics Changes - The company reported a record high recurring profit of $426.5 million, representing a one-third improvement compared to the previous year [6] - The full-year dividend per share increased by 31% to $0.19, reflecting a consistent policy of 25% payout of recurring profit [7] - Gross debt remained stable year-over-year, with an improved interest coverage ratio of 3.8 times [8][9] Business Line Data and Key Metrics Changes - Indofood achieved record high net sales, up by more than 20%, driven by the consumer branded products division, including contributions from Pinehill [15] - PLDT's service revenues reached a record high, with Telco core profit increasing by 8% to over 30 billion pesos, primarily driven by the home business [19] - MPIC's toll roads business saw a significant increase in contribution as travel restrictions eased, while the water business faced challenges due to COVID-related restrictions [24] Market Data and Key Metrics Changes - Philex Mining's core profit doubled to a 10-year high, benefiting from strong copper prices [27] - Pacific Light Power (PLP) reported a tenfold increase in EBITDA to over SGD 100 million, indicating a strong turnaround in performance [25] Company Strategy and Development Direction - The company is focusing on capital management, including a share repurchase program and maintaining a consistent dividend payout policy [7][10] - Future investments are expected to be directed towards renewable energy and FinTech, aligning with industry trends [26] - The company anticipates continued improvement in the performance of its main operating companies, driven by strong cash flows and a solid balance sheet [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2022, expecting better performance compared to 2021 based on early indicators [65] - The company is confident in the growth potential of its core holdings, particularly Indofood, PLDT, and MPIC, as they adapt to changing market conditions [29] Other Important Information - The company plans to publish its 2021 ESG report in late April to mid-May, highlighting its commitment to sustainability [12] - The company is exploring opportunities for solar energy imports from Indonesia, which could enhance its renewable energy portfolio [43][45] Q&A Session Summary Question: Will there be a change in capital deployment strategy? - Management indicated that capital allocation will primarily focus on shareholder returns, including dividends and share buybacks, with potential for debt reduction and acquisitions depending on cash flow from operating units [32][35] Question: How is Indofood managing raw material costs? - Indofood does not hedge on futures markets for soft commodities but has raised wheat flour prices by about 8% in response to higher costs, which generally boosts profitability [41] Question: What is the status of the solar import project? - A pilot project for importing solar energy from Indonesia has been granted a conditional license, with potential for scaling beyond 100 megawatts depending on future bids [43][45] Question: What is the pace of share buybacks going forward? - The share buyback program is set at $100 million over three years, with approximately $28 million already spent, suggesting an average of $30 million per year [63]

First Pacific Company Limited (OTCPK:FPAFY) Q2 2021 Results Earnings Conference Call August 25, 2021 5:00 AM ET Company Participants Sara Cheung - Vice President, Group Corporate Communications John Ryan - Associate Director Joseph Ng - Associate Director Manuel Pangilinan - Managing Director, Chief Executive Officer Stanley Yang - Executive Vice President, Group Corporate Development Conference Call Participants Sara Cheung Good afternoon everyone. Thank you for joining this online briefing to discuss the ...

Investor Presentation First Half 2021Results HKEx: 00142 ADR: FPAFY www.firstpacific.com Creating long-term value in Asia Copyright © First Pacific Company Limited 25 August 2021. All rights reserved. | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Investor Presentation HKEx: 00142 ADR: FPAFY www.firstpacific.com Copyright © First Pacific Company Limited 3 May 2021. All rights reserved. Creating long-term value in Asia | --- | --- | --- | --- | |----------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-- ...

Investor Presentation Full Year 2020 Financial and Operational Results HKEx: 00142 ADR: FPAFY www.firstpacific.com Creating long-term value in Asia Copyright © First Pacific Company Limited 30 March 2021. All rights reserved. | --- | --- | --- | --- | |----------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------- ...

First Pacific Company Limited (OTCPK:FPAFY) Q2 2020 Earnings Conference Call August 27, 2020 5:00 AM ET Company Participants John Ryan - Associate Director Manuel Pangilinan - Managing Director & Chief Executive Chris Young - Executive Director & Chief Financial Officer Sara Cheung - Vice President, Group Corporate Communications Stan Yang - Executive Vice President, Group Corporate Development Conference Call Participants John Galligan - CLSA Kedar Wagle - Maybank Asset Management Operator Good day, everyo ...