ISM Communications Corporation (“ISM”) is a listed Philippine holding company.
ISM is led by its Chairman, Mr. Eric O. Recto. It is owned by Monfortino Holdings, Inc., funds managed by Ashmore Investment Management Limited (a subsidiary of the Ashmore Group plc) as well as other strategic partners.?After its reorganization in June 2002, it has trained its sights on outstanding opportunities in the deregulated telecommunications and the information technology sectors?In July 2005, ISM acquired a substantial stake in Eastern Telecommunications Philippines, Inc. (“Eastern Communications”), the oldest existing telecommunications provider in the Philippines with a particular focus in providing voice, data and internet services. Since then, ISM has since increased its stake in Eastern Communications to a controlling super-majority of 77.7%. Under ISM’s management and control, Eastern Communications executed a dramatic financial turnaround. Having been in the red for six years running, Eastern Communications returned to profitability in just 18 months after ISM’s takeover.?In January 2010, ISM and PhilWeb Corporation equally invested in purchasing a 65% stake in Acentic GmbH, an international market leader in the provision of hotel in-room entertainment systems and services based in Germany and the United Kingdom.?In December 2010, ISM sold a 40% stake in Eastern Communications to Vega Telecom of the San Miguel group.?In October 2011, ISM completed its divestment in ETPI and shifted its focus on other industries.?In December 2011, ISM led a group of investors in completing the acquisition of a 97% controlling stake in the Philippine Bank of Communications.?
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