Singaporean firms planning to expand in Philippines: Aquino

MANILA, Philippines (Xinhua) - President Benigno S. Aquino III said yesterday that at least four big companies in Singapore are expected to expand their presence in the country.

In his arrival speech after his two-day working trip to the southeast Asian country, Aquino said that before he returned to Manila, he met several business groups there.

Keppel Offshore and Marine Ltd. for instance, is planning to put up it first oil rig in the Philippines, he said.

Singapore Airlines Engineering Company, known in the field of aircraft maintenance, repair, and overhaul, wants to establish two more hangars here and starting next year, it will service Airbus 330 and Boeing 777 in the country, Aquino said.

Two biggest investment fund groups of Singapore, Temasek and Government Investment Corporation (GIC), have also expressed intention to further grow their investments in the country, he added.