Macro Movements: PH economy posts 5.6% GDP growth in 2024; UN projects faster PH GDP growth in 2025, 2026
Philippine GDP expands by 5.2% in 4Q24, bringing 2024 full-year growth to a steady 5.6% amid challenges United Nations (UN) forecasts higher 6.1% and 6.2% GDP growths for the Philippines in 2025, 2026
Industry Insights: IT-BPM revenues reach $38 billion in 2024; DOE expects additional 6,841 MW of power in 2025
IT-BPM industry generates $38 billion in revenues and 1.84 million in headcount amid strong demand from global firms Department of Energy (DOE) reports an additional 6,841 MW of power plant capacity to go live in 2025
Deals Spotlight: Maynilad hires banks for $500+ million IPO; KKR hires Goldman to sell over 20% stake in Maya
GoTyme Bank to benefit from US$250 million Series D capital raise Growtheum Capital invests US$121M in Mets Logistics to support cold chain expansion
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Macro Movements: DOF reports all-time high non-tax revenue; PH Investments surpass 2024 target
DOF records all-time high collections for non-tax revenue Philippine investment agencies surpass 2024 Targets
Industry Insights: Philippines extends foreign land leases to 99 years; BOI green lane projects reach PHP4.5T
Philippines extending foreign land lease to 99 years from 75 years BOI projects for green lane processing amount to PHP4.5T
Deal Spotlight: GoTyme stakeholder raises U$250M; Growtheum Capital invests US$121M in Mets Logistics
GoTyme Bank to benefit from US$250 million Series D capital raise Growtheum Capital invests US$121M in Mets Logistics to support cold chain expansion
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Macro Movements: BSP may hold rates at 6%; Philippine internet economy growth tops SEA
BSP may hold off further rate cuts if inflationary pressures persist The Philippines leads Southeast Asia with fastest internet economy growth
Region in Focus: CREATE MORE signed into law
President Marcos signs the CREATE MORE Act, roadshow being planned for 2025
Industry Insights: World’s largest solar battery facility breaks ground in the Philippines
President Marcos leads ground breaking of Meralco Terra Solar Project
Deal Spotlight: Jollibee acquires Tim Ho Wan; GCash to weigh record Philippine IPO
Jollibee Foods Corporation takes full ownership of Tim Ho Wan GCash to potentially raise $1.5 billion in 2025
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Macro Movements: Philippine economy ranks 2nd fastest in SE Asia, strengthening amid economic reforms
Amro expects the Philippines to be SEA’s second-fastest growing economy in 2024 and 2025 amid easing policy rates/strong> Philippine economy continues to drive growth with strategic reforms and strong labor force
Startup Watch: Philippine fintech startups secure major funding to drive innovation in underserved markets
AI-powered fintech OneLot raises $4 million to support used car market growth Salmon raises $30 million with plans to boost its lending products
Deals Spotlight: Mitsubishi boosts GCash IPO prospects; Phinma Education expands with KKR investment
Ayala Corporation’s stake sale to Mitsubishi boosts GCash IPO prospects and expands global reach KKR leads Php2.52 billion investment to strengthen Phinma Education’s reach and system improvements
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Macro Movements: World Bank projects 5.9% GDP growth for PHL; US Federal Reserve cuts rates by 50 bps
World Bank expects an average 5.9% growth for the country as easing interest rates may boost domestic consumption US Federal Reserve lowers benchmark interest rate by half a percentage point, the first cut in 4.5 years
Business Movements: Bicam approves CREATE MORE bill; Japanese firms keen on further expansion in PHL
Bicameral Conference Committee approves the CREATE MORE bill Five Japanese firms express keen interest to enter new investments in the Philippines
Deals Spotlight: ALI raises P2.72 billion from block sale; KKR, GIC hire banks to sell 80% stake in Metro Pacific Health
Ayala Land Inc. (ALI) raises P2.72 billion after selling 75 million common shares of AREIT at P36.2 pesos per share KKR & Co. and Singapore sovereign wealth fund GIC hire banks to sell majority stake in $3.2 billion Metro Pacific
Health
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Macro Movements: Philippine economy to lead ASEAN in growth
Moody’s Rating affirms Baa2 investment grade rating for the Philippines S&P Global Ratings maintains a 5.8% growth forecast for the Philippines' GDP in 2024
Industry Insights: Malampaya invests US$180M in expansion; SBMA plans five projects worth P41.4B
Malampaya consortium investing an additional US$180 million to extend production life Subic Bay Metropolitan Authority aims for P41.4 billion investments across five projects by 2028
Deal Spotlight: Local startups on Forbes Asia’s “100 to Watch” list; KKR begins sale of stake in Metro Pacific Hospital
Holdings
Philippine local startups Lista, Mober and Zed included in Forbes Asia’s “100 to Watch” list KKR-led consortium reportedly starts the sale process of 42.5% stake in Metro Pacific Hospital Holdings
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