Medco Holdings, Inc. is an investment holding company listed on the Philippine Stock Exchange (“PSE”). It was incorporated in the Philippines on 23 October 1969 as the Mindanao Exploration & Development Corporation and adopted its current name in 1995.
In May 1995, Lippo China Resources Limited ("LCR", formerly known as Hongkong China Limited), a company listed on the Stock Exchange of Hong Kong Limited, acquired a major interest of the outstanding capital stock in Medco through its wholly-owned subsidiary, Citivest Asia Limited. LCR is a member of the Lippo Group. The Lippo Group was founded in the 1970s and has diversified businesses and investments in Asia including mainland China, Hong Kong, Macau, Singapore, Indonesia, Philippines, Thailand, Malaysia, Japan, Korea and Australia. The Lippo Group’s main business covers three key areas, that is, property investment and development; retail business and financial services.
Prior to LCR’s acquisition of a major interest in the Company, Medco was engaged in mineral exploration and development. Thereafter, the Company embarked on a major corporate shift that resulted in its transformation into an investment holding company. In line with the change in its primary business purpose, the Company had sold all its rights, titles, interests including all liabilities and obligations in its mining lease contracts and operating agreements to South Seas Oil & Mineral Exploration Development Co., Inc.
Since then, the Company has been engaged in investment holding activities. At present, its investment portfolio is composed of holdings in a company involved in trade development (operation of exhibition halls and conference facilities).
We are a holding company that is committed to providing long term value enhancement for our shareholders by constantly being on the look-out for profitable investment opportunities.
We aim to be a holding company that is a model of effective corporate governance and a socially responsible member of the business community.
Group Corporate and Shareholdings Structure
Details of the principal subsidiary and affiliated companies and their activities as of December 31, 2019 are as follows: