Mr. Infra keys public, private dev’t leap

Mr. Infra keys public, private dev’t leap | Daily Tribune

The Philippines has made considerable strides in transportation infrastructure development in its quest to reclaim its status as a regional powerhouse. In this sector, Rogelio Singson is a household name.

From leading the Department of Public Works and Highways (DPWH) for more than a decade, Singson moved to lead the Metro Pacific Tollways Corp. (MPTC), the biggest toll road developer and operator in the country, as chief executive officer and president.

Singson leads the MPTC as it embarks on several projects aimed at improving the country’s transportation infrastructure.

These projects not only aim to ease traffic congestion but also to stimulate economic growth by improving connectivity between urban and rural areas.

No less than MPTC chairman Manny V. Pangilinan affirmed Singson’s capability of further amplifying the company’s customer-centric approach in serving the customers of its six expressways locally, as well as other businesses in the ASEAN region.

Singson also served as the president and CEO of Metro Pacific Water Investments Corp. He had also overseen some companies under the MVP group such as Maynilad, Light Rail Manila Corp. and Meralco Powergen Corp.

Before his return to the private sector, Singson held the position of secretary of the DPWH from 2010 to 2016.

During his DPWH tenure, he played a pivotal role in implementing comprehensive reforms focused on enhancing transparency, efficiency, and accountability within the department.

Under Singson’s leadership, the DPWH launched several key initiatives, one of which was the introduction of the “right project at the right cost with the right quality” philosophy.

Growing portfolio, investments

Barely more than a year in his position, Singson has already led MPTC’s investment venture with Singaporean partners, GIC, of about $1 billion or approximately P58.62 billion at current rates in exchange for a 35 percent stake in Indonesian state-owned Jasamarga Transjawa Tol (JTT).

“This deal fortifies MPTC’s goal to expand in Southeast Asia and enhance our infrastructure portfolio. This expansion in Indonesia aligns well with our commitment to improve our regional presence in toll road operations,” Singson said.

With JTT toll roads now under its portfolio, MPTC’s local and international network now boasts a 1,300-kilometer network.

JTT is a subsidiary of the leading Indonesian state-owned toll road operator, PT Jasa Marga (Persero) Tbk (Jasa Marga). It is a network of 13 toll roads in the provinces of West Java, Central Java, and East Java. The combined 676-kilometer-long road allows the flow of 850,000 vehicles daily across Indonesia’s Java Island.

Barrierless tollways soon

Additionally, Singson had also committed that MPTC will invest at least P8 billion to implement barrierless toll systems on all its expressways — a modern approach to toll collection, offering numerous advantages in terms of efficiency, safety, environmental impact, and user experience.

Singson said the company’s investments will help it execute the move to “internationally accepted standards of tollways operations” for better travel experience.

“(Investment) for this one could range from P8 billion to P10 billion, all in all. There are three major components. First, we have to remove the roadside barriers. There is also information at the back office about who owns the RFID and the classification of vehicles. Then we will move the information to the commercial back office,” he said.

According to Singson, government support is crucial to ensure that motorists comply with the new rules and regulations associated with the anticipated changes.

Before fully implementing the barrierless system, MPTC initiated the implementation of a cashless system to streamline and enhance toll payment efficiency.

It was followed by the introduction of a unified RFID sticker and wallet, which is expected to be fully in place by the second half of the year.

By then, motorists may start passing North Luzon Expressway, a toll road operated by MPTC, using their RFID sticker normally used across San Miguel Corp. (SMC)-operated expressways.

Strong financial buffer

To stabilize its debt level before its planned maiden offering in 2025, Singson had already mapped out the company’s fundraising activities to generate at least P45 billion.

“In what form, I don’t know but we need to raise (funds to fill) the gap in our debt level before the IPO. Both local and foreign banks, we are already talking to them. If you are to compute our debt, it’s about P150 billion so we want to raise at least 30 percent so that’s around P40 to P45 billion,” Singson said.

MPTC is set to launch its initial public offering in 2025, about two years behind the planned schedule this year, amid an ongoing priority reassessment following its historic joint venture with San Miguel Corp. or SMC.

MPTC holds the concession rights for the Cavite-Laguna Expressway, Cavite Expressway, North Luzon Expressway, NLEX Connector Road, Subic-Clark-Tarlac Expressway, and Cebu-Cordova Link Expressway in Cebu.