BY ANGPING & ASSOCIATES SECURITIES
Metro Pacific Investments Corp. (MPI) has unloaded its entire stake in the country’s largest sugar milling firm. MPHI sold its 7.7% interest in Victorias Milling Co. Inc. to First Agri Holdings Corp. for about PHP 900.0 million.
It has subsidiaries engaged in fish canning, real estate, sugar sacks manufacturing and packaging, and golf course and restaurant operations which include Victorias Foods Corp., Victorias Agricultural Land Corp., Canetown Development Corp., Victorias Golf and Country Club Inc., Victorias Quality Packaging Co. Inc., and Victorias Industrial Gases Corp.
VMC posted a net income of PHP 926.0 million in its fiscal year 2014 ending August, while revenues stood at PHP 5.0 billion.