Metro Pacific Investments Corp. plans to acquire or buy into e-commerce platforms as part of a move to restructure its whole logistics business.
MPIC president and chief executive Jose Ma. K. Lim said Wednesday in a virtual press briefing the group is in negotiations for possible acquisitions but he did not disclose details.
Lim said the company was restructuring its logistic business after dropping its trucking and forwarding operations. The group is also in the process of winding down unprofitable warehousing operations.
“It is not our plan to leave the logistics business but to find a stronger platform from which we can enter into the area of e-commerce where the market is in great need of service,” Lim said.
“By stronger platform we mean we would look into existing strong operators, people who have proven track record, either acquire or buy into this platform. That I think in the nutshell what we want to do with the logistics group,” he said.
MPIC posted a net income of P6 billion in the first six months of 2021, up 13 percent from P5.3 billion in the same period last year.