After last year’s sterling income performance, top Philippine companies are expected to look for acquisition and expansion opportunities for 2011. Foreign and local companies are also eagerly awaiting the bidding for the priority projects of the government under the Public Private Partnership Program. This is expected to spur more mergers and acquisition (M&A) deals in 2011, especially in sectors such as infrastructure, power, and services, ING Bank in Manila said.

The Dutch-owned investment bank has been named the Philippines’ “Best M&A House” in the 2010 The Asset Triple A Awards, which recognizes excellence in financial advisory, a  business where ING has had a strong franchise for 20 years now. The Asset is a multi-media publishing and research company that caters to leading corporate and financial decision makers in Asia.

The volume of debt and M&A deals executed by ING Bank in Manila topped US$13 billion from 1999, involving high-profile transactions. Instead of focusing on a single client group or sector, ING’s deal roster showcased its multi-sector expertise and deep client relationships, said The Asset. In 2010, ING acted as M&A adviser to various clients in five sectors, including power, media, consumer goods, energy and financial institutions. ING also leveraged on its advisory role by offering a full range of products and services.

"The Asset award marks another milestone in ING Bank’s commitment to respond to the increasingly complex needs of its clients amidst a growing capital market," said Consuelo Garcia, ING Bank’s Country Manager in Manila.

In step with global business activity, she said the Philippines’ M&A market is expected to remain feverish in 2011, in terms of both volumes and value of deals. “The market will continue to attract more investor interest because of having world-class companies that offer great shareholder value,” Ms. Garcia added.

According to independent market intelligence firm Mergermarket, M&A activity in Southeast Asia grew 35.9% to over 300 deals last year, representing US$71 billion worth of deals, double than in 2009. Another report, the “Global and Regional FDI Trends in 2010,” published by the United Nations Conference on Trade and Development (UNCTAD) last Jan. 17, said M&A deals jumped 37% in 2010, with investors putting more emphasis on mergers and acquisitions over greenfield investments. Global M&A activity is also expected to increase 36% in 2011 to $3.04 trillion, according to a report released late last year by Thomson Reuters and Freeman Consulting Services.

ING Bank has been the leading M&A advisor in the Philippines since the late 1990s, in both total transaction value and volume. As a testament to its 20-year commitment to the Philippines, ING is one of a handful of foreign banks that consistently lands on the country’s league tables for M&A, peso bonds and debt syndications.