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Big Chinese firm taps FMIC as RP consultant


China National Heavy Machinery Corp. (CHMC), the third largest contractor of power projects and one of the top construction engineering companies in China, has tapped First Metro Investment Corp., the investment banking arm of the Metrobank Group, as its exclusive consultant in the Philippines.
FMIC will provide advisory services in relation to project developers, potential partners, and other relevant information that can assist CHMC in its business development activities in the country.
According to the investment bank, CHMC aims to tap and secure projects in the country’s infrastructure sector, including the areas of power, transportation, water supply and sewage, metallurgy and cement.
Under the agreement signed by CHMC president Xiao Ping and FMIC president Rabboni Francis Arjonillo, the latter will assist CHMC in contacting local government authorities to get the plan and policy of the Philippine government; render general advice regarding local business landscape, laws, commercial issues, and regulations; and provide assistance in referring technical specialists and advisors on legal, taxation, insurance, accounting, regulatory and strategic matters concerning the projects chosen by CHMC.
FMIC intends to create business partnerships, spearheaded by its newly established International Desk.
“We see a lot of potential projects where we can work together and bring about the innovation and development needed in boosting our country’s growth,” said International Desk head Charles Ian Salvador.
The International Desk was set up in line with FMIC’s strategy to spot opportunities, forge alliances, and create business linkages with other countries, with the support of its parent bank, Metrobank. Ed Velasco



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