BIZ BUZZ: Another snag for MVP, SMC firms
MANILA, Philippines – Talks about the union of the toll units of Metro Pacific Investments Corp. (MPIC) and San Miguel Corp. (SMC) have been going on a seesaw ride lately. After initially halting discussions, Metro Pacific Tollways Corp. (MPTC) chair Manuel Pangilinan said they were ready to resume talks with SMC.
But it’s not just these two multibillion-peso companies that are having some trouble.
An MPIC official recently told reporters that even meetings with a strategic investor for the conglomerate’s 20-percent stake in MPTC has hit a snag.
READ: BIZ BUZZ: PCCI SBC finds new white knight?
According to the source, the brakes were hit when US President Donald Trump declared his “Liberation Day” tariffs in April.
“When Trump issued the tariffs, everybody became cautious,” the source said, adding that MPIC has yet to get back to the investor.
“Maybe we should,” they added. “Maybe we should. When Holy Week happened and then Trump’s tariffs, talks have been on pause.”
This may actually be the right thing to do. After all, MPIC chair, president and CEO Pangilinan himself has said the share sale with the local investor (still unnamed and, yes, they’re not SMC; they’re an entirely different investor, according to the source) would help them reduce MPTC’s debt.
After that, they can finally do the merger, Pangilinan said.
The question now is whether MPIC will be true to its word; we’ve been waiting for this grand union for quite some time now. —Meg J. Adonis
AirAsia PH’s new pilot
Looks like the local aviation is not yet done with management shake-ups after Philippine Airlines (PAL) welcomed Richard Nuttall, its very first foreign president, as the flag carrier’s new chief.
Budget carrier AirAsia Philippines also named a new president and general manager, captain Suresh Bangah. Unlike in PAL, however, the new leader is someone familiar with the aviation group headquartered in Malaysia.
Bangah most recently served as the group director of flight operations at AirAsia Aviation Group Ltd. He was also chief pilot and director of flight operations at AirAsia X Berhad.
His promotion was 22 years in the making. He started his career in the low-cost airline in 2003 as a first officer, pilot instructor and auditor.
“In this role, I am committed to leading our talented team of Allstars to elevate our operations while raising the bar on the end-to-end guest experience,” Bangah said.
“[We] remain focused on addressing key external challenges—including global supply chain delays affecting aircraft maintenance, rising fuel costs, higher airport charges and environmental factors that can impact operations,” he added.
Bangah replaced Ricky Isla, who led the company for about six years. Isla will serve as chief advisor to the general manager.
“With extensive management and industry experience—particularly in upholding the gold standard in safety and operational excellence, and a deep commitment to guest-centricity and Allstar values, Captain Suresh is well placed to build on the strong foundations laid by his predecessor, Ricky Isla,” AirAsia Aviation Group CEO Bo Lingam said. —Tyrone Jasper C. Piad INQ
