First Pacific Snapshot
Things have been far from calm for First Pacific Company, or PLDT. The Filipino company, once a sprawling conglomerate, has shed holdings and sharpened its focus. It has kept its interest in consumer foods but is moving into infrastructure services and operations. Its subsidiary Indofood makes packaged foods such as flour, pasta, and edible oils; its Metro Pacific subsidiary provides property management and infrastructure services in the Philippines. PLDT also owns 45% of Meralco, the Philippines' largest electric utility; about 40% of Philex Mining, the country's largest gold and copper producer; and more than 25% of Philippine Long Distance Telephone Company, which provides cellular service throughout Asia.