Duterte's China pivot transforms Philippines' oldest conglomerate - Nikkei Asian Review

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In 1989, Philippine conglomerate Ayala teamed up with two Japanese corporate giants to develop an industrial park south of Manila, cashing in on Japan Inc.'s bubble-era enthusiasm for overseas expansion.

Thirty years later, Ayala is taking a page from its 1989 playbook, but this time the $11 billion company is turning to China. In April, real estate unit Ayala Land announced plans to develop the first Sino-Philippine Industrial Park and said it was in talks with a potential Chinese partner.

READ the full report at : https://asia.nikkei.com/Business/Company-in-focus/Duterte-s-China-pivot-transforms-Philippines-oldest-conglomerate?utm_campaign=RN+Subscriber+newsletter&utm_medium=daily+newsletter&utm_source=NAR+Newsletter&utm_content=article+link&fbclid=IwAR3jw-CD74XF4Z_nxgqFbaeddj-YqPaHrUvVX1n3Jwm91huP1GCVGSZ-YNg


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