"Under our current business plan, we can do it ourselves. We've been doing it. The suppliers of credit are eager to help us. We have a pretty solid balance sheet in the next five years, even without a strategic partner, these things can be done,รข€ Ortigas & Co. senior vice president and chief finance officer Emmanuel Rapadas told reporters.
SM Investments Corp. of the retail tycoon Henry Sy and Ayala Land Inc. of the Ayala family are in talks with separate members of the Ortigas family for a possible joint venture.
The group of Ignacio Ortigas formed an alliance with Ayala Land while the bloc of Francisco Ortigas teamed up with SM Investments.
Rapadas conceded the two families must resolve among themselves the ownership issue before forging any partnership with any interested party.
"It is still status quo. Nothing has happened. The two families are still negotiating with no timetable set," Rapadas said.
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