Stray shows better line

A LITTLE more than two years ago, First Pacific Co was regarded by some large institutions as some shepherds regard stray dogs.

No one knew really where corporate strategy was taking things.

There was a great fear the group was going to get itself into lots of trouble.

Then in late 1992 and early 1993 managing director Manuel Pangilinan told the world he and the company had changed.

Plans for an aggressive super hong had been scrapped.

Four main activities would be concentrated on - marketing and distribution, integrated property services, telecommunications, and banking.

Well, Mr Pangilinan has kept his word and to date the group's share price has reflected this change.