Metro Pacific Tollways Corporation (MPTC) on Monday reported buying the 2.61-percent government stake in NLEX Corp. for P2.5 billion.
Rogelio Singson, MPTC president and chief executive, reaffirmed the toll road company’s dedication to supporting the government’s efforts and its commitment to public service.
“We recognize that we, too, are in public service under a private entity. Our commitment is to provide efficient, safe, and convenient travel to our motoring public, as well as connect people and transform communities,” Singson said.
MPTC is the tollways infrastructure unit of Metro Pacific Investments Corp.
MPIC is one of three Philippines units of Hong Kong–based First Pacific Co. Ltd. It owns 70.78 percent of NLEX alongside BDO Unibank’s 11.7 percent, EGIS Investment Partners Philippines Inc.’s 10.16 percent, and Global Fund Holdings’ 3.9 percent.
NLEX earlier reported booking first-quarter net income of P2.1 billion, up 38 percent from P1.5 billion in the same period last year.
The company reported revenue totaling P5.1 billion, up 31 percent from the first quarter of 2023 due to stronger travel demand and higher toll rates implemented in May and June 2022.
Average daily traffic at NLEX reached 320,863 vehicle entries in March, higher than 2023 figures by 20 percent while the average daily traffic along SCTEX reached 80,261 entries or 23 percent above last year’s figures covering the same three-month period.
NLEX spans over 105 kilometers as the main infrastructure backbone connecting Metro Manila to Central and Northern Luzon while the 93.77-kilometer SCTEX traverses the province of Bataan, Zambales Pampanga and Tarlac.
