Fil-Estate Corporation's key investment is in the form of equity interest in Metro Rail Transit (MRT) Holdings, Inc. and Metro Rail Transit Holdings II, Inc. The combined investment in these holding companies represents approximately 29% interest in the EDSA Metro Rail Transit systems. The Phase I of the MRT project (LRTS Phase I) started full operation on July 15, 2000, and involved 13 stations from the North Triangle to Taft Avenue. The Company has a 15.8% equity interest in Monumento Rail Transit Corporation (MRTC) which expectedly allows participation in the train system extension (e.g. Makati Loop) and additional train/vehicle procurement, in the event the Philippine government awards the project to MRTC.
On November 12, 2010, Fil-Estate Corporation, Fil-Estate Management, Inc. and Fil-Estate Properties, Inc. ("Fil-Estate Companies") entered into a cooperation agreement with Metro Pacific Investment Corporation (MPI) relating to the Fil-Estate Companies' rights and interest in the MRT Companies. Under the cooperation agreement, the Fil-Estate Companies shall appoint MPI as its attorney-in-fact in connection with the exercise of the rights and interests of the Fil-Estate Companies in the MRT Companies.
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