Insights

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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Inside the Philippines: July 2021

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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Inside the Philippines: June 2021

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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Inside the Philippines: May 2021

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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