Manila, Philippines - The Social Security System (SSS), the state-owned pension fund for private employees, is keeping a close watch on listed power firms for possible investment opportunities, its top official said.
“We’re looking into buying in power stocks. That’s an area we’re looking at very carefully and very seriously,” SSS president and chief executive officer Emilia De Quiros told The STAR in a recent interview.
Aside from listed power firms, the state-owned pension fund is also waiting for the government’s infrastructure projects under its public-private partnership (PPP) program.
“We’re waiting for specifics. Our charter requires us to look at the track record and dividends,” he said.
One option is the government’s planned infrastructure bonds.
The Aquino administration is eyeing to issue infrastructure bonds to finance projects under its PPP program.
Proceeds of the bonds would help fund solicited infrastructure projects within the next three years.
The bonds, to be issued locally, will mature in 20 to 25 years or less depending on the terms or length of the infrastructure project.
The government is eyeing to launch roughly 10 infrastructure projects this year and another 10 in 2012.
While he cannot disclose yet the shortlist of listed power firms that SSS is eyeing, he said some buy-ins may be sealed within the year.
At the same time, De Quiros said SSS is also looking at unloading some of its 22.3-percent stake in Philex Mining Corp. but only under the right circumstances.
“When the right time comes, we will probably unload it but for now, we’re sitting on very good capital gains,” De Quiros said.
From a combination of investment income and an improvement in operations, SSS hopes to end the year with as much as P28 billion in net revenues or P4 billion more than the roughly P24 billion posted in 2011.
“I think we will be in the neighborhood of P26 to P28 billion through a combination of fixed income and good trading gains,” De Quiros said. source
“We’re looking into buying in power stocks. That’s an area we’re looking at very carefully and very seriously,” SSS president and chief executive officer Emilia De Quiros told The STAR in a recent interview.
Aside from listed power firms, the state-owned pension fund is also waiting for the government’s infrastructure projects under its public-private partnership (PPP) program.
“We’re waiting for specifics. Our charter requires us to look at the track record and dividends,” he said.
One option is the government’s planned infrastructure bonds.
The Aquino administration is eyeing to issue infrastructure bonds to finance projects under its PPP program.
Proceeds of the bonds would help fund solicited infrastructure projects within the next three years.
The bonds, to be issued locally, will mature in 20 to 25 years or less depending on the terms or length of the infrastructure project.
The government is eyeing to launch roughly 10 infrastructure projects this year and another 10 in 2012.
While he cannot disclose yet the shortlist of listed power firms that SSS is eyeing, he said some buy-ins may be sealed within the year.
At the same time, De Quiros said SSS is also looking at unloading some of its 22.3-percent stake in Philex Mining Corp. but only under the right circumstances.
“When the right time comes, we will probably unload it but for now, we’re sitting on very good capital gains,” De Quiros said.
From a combination of investment income and an improvement in operations, SSS hopes to end the year with as much as P28 billion in net revenues or P4 billion more than the roughly P24 billion posted in 2011.
“I think we will be in the neighborhood of P26 to P28 billion through a combination of fixed income and good trading gains,” De Quiros said. source
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