N.Y. bank eyeing investments in PH mining

Consul General Mario de Leon Jr. (second from right) welcomes guests at his residence during the BPO Networking reception on January 24.

A Manhattan bank and advisory firm announced on February 3 plans to invest in Philippine mining and outsourcing and set up an office in Manila.

Murdock Capital Partners, which has more than a decade of merchant banking and advisory experience in China and Australia, said it is “determined to commit significant resources to the Philippines.”

“We believe that the 25-year process of important political and economic change at every level in the Philippines has been demonstrably successful. As such, the Philippines now offers significant investment opportunities for U.S.-based investors and for cross-border transactions with United States entities,” said managing director and partner Luis Mejia in a statement.

The company said it intends to “become actively involved in the important industries of mining, agriculture, outsourcing and infrastructure, while specifically targeting middle market companies that are underserved and underrepresented by the larger U.S. financial institutions.”

Philippine mining is projected to be the next growth area. Investors are awaiting clear guidelines from the government on new mining regulations before they go full-blast into exploration. They are also waiting to see how the Aquino administration will deal with opposition to mining coming from the Catholic Church and some prominent citizens.

At a recent dinner hosted by the Philippine Chamber of Commerce in New York, Murdock executives met with Filipino business leaders and industry titans led by economist Dr. Bernie Villegas. Their presentations reinforced Murdock’s commitment to “forging closer relationship with the Philippine business community,” said Mejia.

This month, managing director Charles Nelson will be visiting the Philippines for additional meetings with companies and government officials.

“We are excited about what we have learned and experienced over the past months regarding the Philippines and intend to become a major factor in the growth and development of financial and related transactions,” said Mejia.

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