MPTC invests P193M to maintain 44.9% stake in Vietnam toll road affiliate

METRO PACIFIC Tollways Corp. (MPTC) said it subscribed to 8.67 million newly issued shares of CII Bridges and Roads Investment JSC (CII B&R) for about P193 million to maintain its effective 44.9% stake in its Vietnam affiliate.

In its financial report, MPTC said its unit Metro Pacific Tollways Vietnam Co. Ltd. (MPT Vietnam) subscribed to the shares, equivalent to a 4.09% interest in CII B&R.

The company said the share subscription was undertaken to preserve MPTC’s combined 44.9% ownership interest in CII B&R following the Vietnamese company’s issuance of new shares to existing and new investors.

Following the transaction, MPTC’s direct stake in CII B&R stood at 40.85%, while MPT Vietnam held 4.09%, for a combined interest of 44.9%.

Last year, MPTC said it was exploring opportunities to expand its toll road portfolio in Vietnam.

MPTC, the tollways unit of Metro Pacific Investments Corp. (MPIC), also has operations in Indonesia. Its Vietnam business is carried out through affiliate CII B&R.

In 2025, CII B&R said it was pursuing the expansion of the nearly $1.6-billion Ho Chi Minh City-Trung Luong-My Thuan Expressway, a 96-kilometer project aimed at improving transport connectivity in southern Vietnam.

The company has likewise expressed interest in bidding for four infrastructure projects in Vietnam worth a combined $1.65 billion.

CII B&R and its subsidiaries are engaged in the construction, development and operation of urban infrastructure projects.

For the three months ended March, MPTC’s attributable net income slipped by 0.65% to P1.54 billion from P1.55 billion a year earlier.

Operating revenues rose by 14.02% to P9.92 billion from P8.7 billion in the same period last year.

MPTC also said construction progress for the Cavite segment of the Cavite-Laguna Expressway (CALAX) reached 84.67% and remains on track for completion by July.

MPIC is one of the three key Philippine units of Hong Kong-based First Pacific Co. Ltd., alongside Philex Mining Corp. and PLDT Inc.

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