HongKong and Shanghai Banking Corp. will look at funding major infrastructure projects in the Philippines, as the private sector now takes the lead in building tollways and power plants.
“We would be extremely interested in road projects,” HSBC Philippines outgoing chief executive Mark Watkinson told reporters in a news briefing at the Sofitel Philippine Plaza Hotel in Manila Wednesday.
Watkinson, who is moving to Canada where he will serve as the bank’s executive vice president for commercial banking, will be replaced by Tony Cripps, who is currently the head of global banking and markets in HSBC Australia. Cripps will begin his Philippine stint in August.
Watkinson said HSBC would like to take advantage of growth opportunities in the Philippines, including infrastructure where the private sector is now interested.
Companies such as San Miguel Corp. and Metro Pacific have been competing against each other to bid for the right to construct or develop tollways, water projects and airports.
HSBC helped San Miguel raise P38.8 billion from the debt market last year, Watkinson said.
He said the bank had also helped finance the construction of several energy-related projects and was now in talks with several companies for infrastructure projects. He did not identify the projects.
The bank is optimistic about the outlook for the Philippines, following the successful holding of the May election. “The economy is quite positive. There is a good story for the Philippines for the next couple of years,” Watkinson said.
Cripps said the proximity of the Philippines to China positioned it well to take advantage of the opportunities in Asia-Pacific, which is projected to become the engine of global economic growth over the next 10 years.
“The Philippines is a part of that wonderful growth story,” Cripps said. –Roderick T. dela Cruz, Manila Standard Today
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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