Standard Chartered seeks share in Philippine infrastructure projects

Cathy Yang, ABS-CBN News Posted at Mar 01 2017 04:31 PM http://news.abs-cbn.com/business/03/01/17/standard-chartered-seeks-share-in-philippine-infrastructure-projects MANILA – Standard Chartered is eyeing partnerships with conglomerates to participate in the government’s ambitious infrastructure overhaul, its CEO said Wednesday. The UK-based international lender recently gave up its retail business to concentrate on corporate and institutional clients. It also appointed its first Filipina CEO, Lynette Ortiz. “We would like to be partners, not only with the coporate. We are very supportive of the infrastructure growth,” Ortiz told ANC’s “The Boss.” “We have been in a number of transactions, providing financing, providing advice, making sure that we are able to at least add value and put together proposals and structures that will work well with local corporates looking to expand and looking to really form part of nation-building,” she added. President Rodrigo Duterte is looking to raise up to P8 trillion to build new roads, bridges, railways and airports to modernize creaking infrastructure that has held back growth. Ortiz said she was looking at “likely two” rate hikes by the Federal Reserve this year, depending on how the new government under President Donald Trump steers the US economy. Given “muted” inflation, Ortiz said she did not expect “wild swings” in local interest rates. With “flush” liquidity onshore, Ortiz said the bank is advising clients to “act now.”