Containing COVID: PH Government expands vaccination program scope and implements new lockdown systems
Over 45 million vaccine doses have been administered as of 30 September 2021
Metro Manila pilots alert level systems and granular lockdowns
Local contact center/BPO sector to grow revenues by 9% in 2021, expand employees by 8-9%
ADB retains its growth outlook for the Philippines
Deal Spotlight: Robinsons Land set to IPO largest REIT; Local cryptocurrency exchange PDAX raises capital
Robinsons Land’s RL Commercial REIT and Megaworld’s MREIT debut the market
Foreign VC firms back more local startup deals
Industry Watch: Banking sector’s NPL ratio to settle at 5-6% for 2021; Online grocery market shows growth prospects
Moody’s downgrades PNB’s credit rating to Baa3
Local online grocery market set to reach USD 1B value by 2025
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Containing COVID: Vaccination drive continues
Over 33 million vaccine doses have been administered as of August 31
Key Philippine companies reach critical mass in their vaccination drives
Recovery and Resilience: Infrastructure spending and foreign direct investments drive the economic recovery
USD 24B earmarked for infrastructure projects in 2022
Foreign investments approved by PEZA in 1H 2021 post year-on-year growth
Deal Spotlight: Robinsons Land set to IPO largest REIT; Local cryptocurrency exchange PDAX raises capital
Robinsons Land REIT’s USD 1.3B IPO set for 14 September 2021
PDAX raises USD 12.5M from foreign and local investors
Gaining Ground: Local startup ecosystem continues to capture interest
Four Philippine-based startups land in Forbes Asia 100 to Watch list
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Containing COVID: On vaccinations and quarantine measures
Over 21 million vaccine doses have been administered as of August 3
Metro Manila to be placed under strict two-week lockdown in mid-August to curb the transmission of the Delta variant
Build, Build, Build: Infrastructure projects see completion and continued progress throughout the pandemic
Big-ticket aviation projects and bridges have recently been completed
Construction is ongoing on several rail, road, and aviation projects
Deal Spotlight: Filinvest REIT set to IPO and local fintech start-up NextPay raises capital
Filinvest Land REIT IPO slated for up to USD 250M debut on 12 August 2021
NextPay raises USD 1.6M from foreign and local venture capital firms
Investor Interest: Local conglomerates launch venture capital funds
Media company GMA Network joins several local corporations in forming funds focused on early-stage investing
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COVID-19 Status: More vaccines secured by the government
Philippines seals around 110M vials after securing 40M vaccine doses from Pfizer
Recovery and Resilience: Infrastructure spending and foreign direct investments post year-on-year growth
Infrastructure spending expected to maintain aggressive pace
1Q 2021 foreign direct investments outpace 1Q 2019 figures by around 19%
Deal Spotlight: Foreign investors partner with PayMaya, 2GO, and GrowSari, while REIT market expects further listings
Voyager Innovations raises USD 167M to expand PayMaya’s operations
Archipelago Capital acquires stake in Philippine logistics provider 2GO Group Inc.
GrowSari secures USD 30M from notable investors
ESG-themed REIT listings underway
Industry Insight: Philippine outsourcing industry secures contracts and hires thousands
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Containing COVID: Vaccination drive continues and additional stimulus nears legislative approval
Over 1 million people have been fully vaccinated as of the end of May
The third stimulus package seeks to allot USD 8.4B in pandemic-related subsidies
Recovery and Resilience: S&P affirms its BBB+ rating on the Philippines and assigns a ‘stable’ economic outlook
S&P Global Ratings expects a healthy economic recovery alongside strengthening fiscal performance in the PH
Deal Spotlight: Largest IPO in the Philippines, thriving REIT pipeline, and recent fundraising
Food manufacturer Monde Nissin Corp. debuted on the stock market raising USD 1B in the country’s largest IPO
Property developers Robinsons Land Corp. and Megaworld Corp. are eyeing REIT listings in the 2nd half of 2021
Great Deals E-commerce Corp. raised USD 30M in its Series B round
Investing in Artificial Intelligence (AI): National AI roadmap launched
Philippines aims to become an ‘AI Center of Excellence’ serving as a big data processing hub
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COVID-19 Status: Quarantine extended, vaccine roll-out continues
Modified Enhanced Community Quarantine (MECQ) extended in Greater Metro Manila area until mid-May
PH continues vaccinations as new orders arrive in May
Macroeconomic Update: R&I affirms PH’s BBB+ rating with ‘stable’ outlook, though unemployment slow to recover
Rating and Investment Information Inc. (R&I) expects the country’s fiscal and monetary policies to boost growth
Unemployment rate at 8.8% as of February 2021, down from April 2020 peak of 17.6%
Deal Spotlight: Local companies gear up for stock market listing while Partners Group continues PH activity
Top food and beverage players file for stock market listings
Partners Group partners with top conglomerate for telco platform, as it mulls exit for local outsourcing firm
Industry Spotlight: PH ranked the 2nd best investment destination for renewables in SE Asia
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