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Philippine conglomerate Ayala hopes its ventures with China will help it gain access to cutting-edge technology for its complex empire, which spans property and utilities to health care. (Photo by Yuki Kohara)
Company in focus

Duterte's China pivot transforms Philippines' oldest conglomerate

Ayala connects with rising tech superpower for digital offensive

CLIFF VENZON, Nikkei staff writer | Philippines

MANILA -- In 1989, Philippine conglomerate Ayala teamed up with two Japanese corporate giants to develop an industrial park south of Manila, cashing in on Japan Inc.'s bubble-era enthusiasm for overseas expansion.

Thirty years later, Ayala is taking a page from its 1989 playbook, but this time the $11 billion company is turning to China. In April, real estate unit Ayala Land announced plans to develop the first Sino-Philippine Industrial Park and said it was in talks with a potential Chinese partner.

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