Insights

Inside the Philippines: January 2022

On the Upswing: Philippine GDP growth to outpace regional peers

The Asian Development Bank (ADB) raises its Philippine GDP growth projection for 2022 to 6%


Industry Insight: IT-BPM sector to sustain growth trajectory & drive office space demand

The Department of Trade and Industry (DTI) expects the outsourcing sector to lead the diversification of exports

Outsourcing firms are seen to drive office demand over the medium term

Typhoon Rai (Odette) disrupts Cebu’s IT-BPM sector


Emerging Industry: e-Commerce sector to post 17% annual revenue growth until 2025, attracts foreign funding

Philippine e-commerce sales are projected to hit USD 10.3 billion by 2025

IFC mulls USD 10 million investment in Philippine-based B2B e-commerce platform GrowSari


Investor Interest: PSE named as best bourse in SEA for record deals in 2021

Philippine Stock Exchange (PSE) raised a record PHP 234.5 billion (USD 4.7 billion) last year

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Inside the Philippines: December 2021

On the Upswing: Growth targets upgraded as GDP growth exceeds expectations

Philippine GDP expanded 7.1% year-over-year in 3Q 2021 led by strong household consumption

Goldman Sachs, Maybank, Fitch Ratings, and S&P Global Ratings raise 2021 and 2022 Philippine growth projections


Industry Insight: REITs bullish on the Philippine real estate market

REITs are looking to grow their portfolios and more REITs are expected to launch in the coming years


Logistics on the Move: Acquisitions, investments, and expansions in the logistics space

Ayala Corporation’s AC Logistics is acquiring a majority interest in Air21 and partnering with Glacier Megafridge

LBC Express Holdings is investing up to USD 40M in its wholly owned subsidiary, LBC Express, Inc.

SM Group-backed logistics firm Airspeed is opening three new warehouses as e-commerce demand continues to rise


Emerging Industry: Philippine play-to-earn gaming startup attracts Andreessen Horowitz

Andreessen Horowitz (a16z) led the USD 4.6M investment in the Philippines’ Yield Guild Games (YGG)

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Inside the Philippines: November 2021

COVID-19 Status: Philippines expands COVID-19 vaccination to children

Philippine government allows COVID-19 vaccination of children aged 12 - 17

Investor Insight: Warburg Pincus’ views on Philippine Market; Mynt achieves double unicorn status

Warburg Pincus views the Philippines as a priority market

Mynt achieves “double unicorn” status after securing USD 300M in its latest funding round


Deal Spotlight: Investments in energy & technology

JERA invests USD 1.5B in Aboitiz Power while KKR increases its stake in Philippine energy firm First Gen

Philippines social entertainment platform Kumu closes its series C round led by General Atlantic

Cloudeats secures USD 5M in its series A round led by Vulpes Investment Management and Gobi Partners


Industry Insight: Philippine e-commerce and office market

Facebook and Bain & Company’s Southeast Asia digital economy study shows promising prospects for the Philippines

Philippine office market seeing signs of recovery

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Inside the Philippines: October 2021

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


Growth Outlook: Local contact centers/BPOs expect to outpace global growth while ADB retains PH GDP outlook

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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Inside the Philippines: September 2021

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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Inside the Philippines: August 2021

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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