Bilyonaryo Manuel V. Pangilinan or MVP, managing director and CEO of Hong Kong-based First Pacific Co., Ltd., may be far from slowing down being on top of a number of conpanies in the country, but this does not stop him from making provisions for his eventual retirement.

“This is part of my own estate planning. It merely facilitated the transfer of ownership (of his First Pacific shares) but not externally,” MVP said on the sidelines of the press briefing for the full-year results of Philippine Long Distance Telephone Co., one of the core holdings of First Pacific in the Philippines.

He was referring to a First Pacific disclosure issued in January this year announcing MVP has transferred 29,033,817 shares in the company, representing approximately 0.68 percent of its issued share capital, to certain ‘family trusts.’

At that time, MVP holds a total of 59.46 million shares of First Pacific equivalent to 1.4 percent.