First Pacific Company Ltd. said on November 12 that it wants to increase its stake in Philex Mining Corp. "It remains our intention to increase our interest if we can. We're quite happy where we are right now," Robert Nicholson, First Pacific executive director said.

First Pacific Company Ltd. has won a PHP 14.5 billion ($311 million) Philippine government contract to develop and manage Manila's North Harbour port. North Harbour will be expanded to 70 hectares (173 acres) from 52 hectares (129 acres) so that it can handle more containers and general cargo. It will also be dredged to receive tankers and luxury liners, while the port will be fitted with bigger cranes. Metro Pacific said its unit Harbour Centre Port Terminal Inc. will develop and operate North Harbour over 25 years in a project that is expected to cut port rates by up to 15%. It was also expected to raise more than PHP 6.8 billion ($146 million) in revenues for the state port regulator Philippine Ports Authority, the company said. North Harbour now handles Manila's domestic shipping traffic. The project will also involve the construction of a new passenger terminal.

First Pacific Company Ltd. reported unaudited consolidated cash flow results for the six months ended June 30, 2009. The company reported as at June 30, 2009 net debt was $2,677.4 million compared to $2,520.8 million for the same period a year ago. Net cash inflow from operating activities was $8.6 million compared to net cash outflow from operating activities of $21.3 million for the same period a year ago. Purchase of property, plant and equipment was $111.6 million compared to $55.8 million for the same period a year ago.