Gammon Construction's move yesterday to establish a joint-venture building development company in the Philippines with Ayala Land is the latest in a whole chain of moves over the past year by the Jardine group to expand its presence in the region.
For years Jardines has acted as a de facto corporate comprador for overseas multinationals seeking to expand into Hong Kong.
Now it would appear to be looking for corporate compradors itself with local knowledge and know-how to smooth its own regional expansion overseas.
In India, it has openly named Tata Industries as its chosen partner for new ventures in the country for the whole Jardine group.
In the Philippines, an equally close relationship would appear to be starting to form with Ayala, the country's biggest property developers.
The building construction partnership, to be known as Gammon Philippines, is the second joint venture between Ayala Land and Jardine.
