 As chairman of Metro Pacific, Pangilinan contributed to nation building through major investments in power distribution and energy innovations (Meralco), urban water concession (Maynilad Water Services), tollways (Metro Pacific Tollways Corporation), upgrading hospitals and health services (Metro Pacific Investments Corporation).He is also Chairman of TV5 and Philex Mining Corporation.In 1998, First Pacific acquired PLDT, the largest telecommunications firm in the Philippines.