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Manila Bulletin devider Business devider Trade & Industry devider PCC clears Singapore firm's acquisition of local cold storage operator

PCC clears Singapore firm's acquisition of local cold storage operator

Published Oct 17, 2025 06:14 pm
The Philippine Competition Commission (PCC) has cleared the acquisition by a Singapore-based investment firm of a local holding company that operates cold storage facilities.
In a statement, the PCC said it approved the buyout of Permafrost Investments GMF2 Pte. Ltd. (Permafrost Singapore) for a majority stake in CAMP Resources Property Holdings Inc.
CAMP Resources manages cold storage facilities in Luzon, namely Pangasinan, Bulacan, Rizal, and Laguna.
The transaction between Permafrost Singapore and CAMP Resources was formalized last May.
Following notification in the following month, the deal was reviewed by PCC’s Mergers and Acquisitions Office to confirm whether it might substantially lessen competition.
In particular, the commission evaluated competition effects in the nationwide market for the supply and installation of rooftop solar panel systems for customers’ own commercial and industrial use.
Following the review, the PCC said the deal poses no threat to competition.
This indicates that the market has sufficient competitive constraints to maintain healthy competition.
“The commission found that the transaction is unlikely to substantially lessen competition, citing the presence of multiple providers and a fragmented market structure,” it said.
The PCC said the acquisition is consistent with its mandate to promote fair, efficient, and competitive market outcomes.
Under the Philippine Competition Act, the PCC reviews mergers and acquisitions to ensure that these deals do not lessen competition in the markets or harm consumer welfare.

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Philippine Competition Commission (PCC)
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