San Miguel Foods & Beverage (SMFB), controlled by billionaire Ramon Ang, is spending 30 billion pesos ($627 million) to expand the company’s animal feeds production capacity amid a strong recovery in the group’s profit.
Billionaire Enrique Razon is consolidating his stake in Manila Harbor Center into International Container Terminal Services Inc. (ICTSI) as part of initiatives to boost efficiency in the Philippines’ busiest port.