Indra eyeing Southeast Asian markets

HONG KONG – Information technology (IT) service provider Indra Philippines is looking to enter Indonesia as well as new business sectors in the Philippines.

Manuel V. Pangilinan, chair of the Metro Pacific Investments Corp. (MPIC) and Manila Electric Co. (Meralco), told reporters Indra is looking to expand not only in the Philippines but in the entire Southeast Asian region.

“(They’re looking at) entire Southeast Asia. They will partner with Salim Group in Indonesia and here in Manila, (with) Meralco and MPIC,” he said.

While Indra Philippines is focused on exploring opportunities in the IT sector, he said the firm is also open to opportunities in other business sectors including defense-related businesses and avionics.

Indra Philippines is a joint venture between Meralco and Indra Sistemas S.A. of Spain.

Last week, Meralco sold its 24.95 percent stake in Indra Philippines to MPIC for a total consideration of P326.52 million.

As a result, Meralco’s stake in Indra Philippines was reduced to 24.95 percent.

MPIC has an aggregate 32.48 percent direct and indirect stake in Meralco.

The entry of MPIC into Indra Philippines is expected to allow the IT service provider to leverage on the combined strength of shareholders and expand in the country and the region.

MPIC is engaged in water utilities, power distribution, toll operations, hospital operations and rail.