Insights

Inside the Philippines: July 2024

Macro Movements: S&P Global ranks PHL as second-fastest growing economy in Asia; IMF expects easing inflation

S&P Global expects the Philippines to post the second-fastest growth in Asia-Pacific region this year with 5.8% growth IMF predicts inflation to decline to 3.4% in 2024 and predicts stronger growth in 2025

Region in Focus: CIAC to develop national food hub; BCDA announces plans for the Clark Integrated Public Transport

CIAC taps global food tech companies, Food Starter and World Food Chain, to develop Clark National Food Hub
BCDA plans to bid out concession for the Clark Integrated Public Transport System by end of 2024

Deals Spotlight: DALI secures $8.4mn investment commitment from DEG; CREC successfully completes IPO

DEG to invest $8.4m in Philippine discount grocery chain DALI Stores
Citicore Renewable Energy Corp. (CREC) completes IPO, securing US$12.5 million from UK Fund Mobilist

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Inside the Philippines: June 2024

Macro Movements: Philippines expected to grow by 5.9% in 2024; Inflation picks-up at 3.9% in May 2024

World Bank expects Philippines to grow by 5.8% this year and 5.9% in 2025 Philippine Inflation picks-up to 3.9% for the month of May 2024

Industry Insights: North-South Commuter Rail operational by 2026; Samar BioSPV leads largest reforestation effort

North-South Commuter Railway at 60% completion and may start operation by 2026
Samar BioSPV leads the country's largest reforestation effort and supports the development of a carbon credit framework

Deals Spotlight: Ayala Crops exits Manila Water for P 14.5 billion; Lhoopa secures USD 12.5 million in Series B funding

Digital economy continues to grow, supported by investments in enabling infrastructure and e-commerce platforms
E-commerce Sustains Pandemic-driven Growth Momentum supported by Zalora and Ninja Van

Market Movers: Growth indicated by Nasdaq listing and fostered by pioneering seawater hydropower infrastructure

Ayala Corp. sells P 14.5 billion stake in Manila Water to subsidiary of Prime Infrastructure
Lhoopa raises USD 12.5 million in the first close of its Series B funding

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Inside the Philippines: May 2024

Macro Movements: Monetary Organizations and Credit Authorities reaffirm positive GDP growth outlooks for the PH

The World Bank, IMF, AMRO, and Moody's forecast strong Philippine growth despite DBCC GDP target downgrades

Investment Impacts: Sustainable Growth Driven by Green Lanes for Strategic Investments Policy & Green Investments

Green Lanes for Strategic Investments total PHP 1.9 trillion investments, successfully streamlining regulatory approvals Green Investments increased by 57% capturing 23% of SEA market right after Indonesia’s 25%

Industry Insights: The Digital Economy contributed 8.4% to GDP growth, with sustained growth from E-commerce

Digital economy continues to grow, supported by investments in enabling infrastructure and e-commerce platforms E-commerce Sustains Pandemic-driven Growth Momentum supported by Zalora and Ninja Van

Market Movers: Growth indicated by Nasdaq listing and fostered by pioneering seawater hydropower infrastructure

Double Dragon’s Hotel 101 lists in Nasdaq following a merger deal with a US SPAC Repower Energy Development Corp (REDC) pioneers the Philippines' first seawater pumped-storage hydropower plant

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Inside the Philippines: April 2024

Macro Movements: BSP to hold policy rates steady; Philippine credit given investment-grade rating

BSP retains hawkish stance as rice inflation and El Nino risks drag CPI
Japan Credit Rating Authority maintains stable outlook on Philippine Economy

Region in Focus: President urged to declare a state of calamity in Metro Manila

Traffic within the Metro costing the Philippine economy as much as P3.5 billion daily

Industry Insights: IT-BPM industry expected to deliver strong growth in the coming years

IT-BPM revenues outperformed IBPAP expectations in 2023, expected to grow to a $59 billion industry by 2028

Deal Spotlight: Power generation incumbents form a joint venture; Ayala Corporation looking to divest from LRT-1

Power Incumbents jointly invest in San Miguel Global Power’s Batangas assets Ayala Corporation looking to close a deal for the sale of their stake in LRT-1

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Inside the Philippines: March 2024

Macro Movements: Moody’s Analytics increases Philippines growth forecasts; World Bank predicts stable inflation

Moody’s Analytics raises Philippines’ 2024 growth forecasts amidst strong export demand for electronics
World Bank expects Philippine inflation rate to remain within central bank’s 2-4% target range throughout 2024

Industry Insights: STT GDC Philippines expands data center capacity to 150 MW, a strategic milestone for the sector

Joint venture involving Globe, Ayala Corp, and ST Telemedia expands data center capacity

Investment Updates: IFC targets $400 to $500 investment in Philippines’ opportunity-rich landscape

IFC commits climate-smart investments between $400 and $500 in the Philippines

Deal Spotlight: AEV and CCEP acquire CCBPI; SMC wins bid for NAIA

AEV and CCEP completes $1.8 billion acquisition of CCBPI, the bottling arm of Coca-Cola San Miguel Corp (SMC) wins P170.6-billion to upgrade Ninoy Aquino International Airport (NAIA)

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Inside the Philippines: February 2024

Macro Movements: Sustained Philippine economic growth and potential interest rate reduction in 2024

World Bank and S&P forecast accelerated growth for the Philippines, surpassing regional peers
Philippine central bank maintains its hawkish stance but indicates the possibility of a rate cut

Region in Focus: Clark as an emerging hub in Asia for global logistics companies

Three global logistics firms to invest USD 1 billion and set up regional hub in Clark

Industry Insight: Growing attractiveness of the Philippines for renewable energy investments

Philippines named as a top destination for renewable energy investments Citicore gets the green light for its PHP 12.9 billion initial public offering (IPO)

Deal Spotlight: Six IPOs seen in the PSE for 2024

PSE expects to double the number of IPOs in 2024

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