Philippine Fuhua Sterling Agricultural Technology Development Corporation #37869
Created at
2014-04-28
Last update
2025-08-08
5 Parents (Involvements as child)
ID
Name
Jilin Fuhua Agricultural Science and Technology Development Co. Ltd.
Country of registration/origin
China
Classification
Private company
Relationship
Parent company
Parent relation
Joint venture of parent companies
Investment type
Shares/Equity
Loan amount
3 870 000 000
$
Comment
The main Chinese operating company slated to lease and cultivate the land. Fuhua specializes in hybrid crop technology and international agribusiness. It was the corporate vehicle for implementing the 1M ha project. Notably, Fuhua committed to set up a “credit platform company” to finance farmers’ production inputs, backed by loans from CDB.
ID
Name
Sterling Paper Group
Country of registration/origin
Philippines
Classification
Private company
Relationship
Parent company
ID
Name
China Development Bank
Country of registration/origin
China
Classification
State-/government (owned) company
Relationship
Tertiary investor/lender
Parent relation
Joint venture of parent companies
Investment type
Debt financing
Loan amount
3 800 000 000
$
Comment
CDB agreed to fund the venture’s capital needs. A briefing paper indicated Fuhua’s investments would be supplied by CDB over 5–7 years. It’s unclear if this would be a loan to Fuhua or a package to the PH government; critics feared it meant farmers or the PH government might incur debt. No funds were actually released due to the suspension.
Draft
ID
Name
People’s Government of Jilin Province
Country of registration/origin
China
Classification
Government
Relationship
Parent company
Parent relation
Joint venture of parent companies
Investment type
Shares/Equity
Loan date
2007
Comment
The Jilin provincial government co-signed the deal, signalling Chinese official support. It likely helped coordinate between Fuhua and China’s central authorities. Jilin’s interest was in securing grain supply and promoting its agribusiness “going out.” The province’s involvement gave the project a government-to-government aspect.
Draft
ID
Name
Philippine Department of Agriculture
Country of registration/origin
Philippines
Classification
Government institution
Relationship
Parent company
Comment
These agencies (led by DA) represented the Philippines in the MOU. They formed the “convergence group” signing the deal. Their role was to enable the project – e.g., clearing legal hurdles, providing data on lands, coordinating with landowners/ARBs, and even building necessary infrastructure and organizing farmers. Essentially, the PH government was to bear certain costs and facilitation duties to ensure Fuhua’s success.
0 Children (Involvements as parent)
1 Deals (Involvements as Operating company)
ID
Target country
Philippines
Current intention of investment
Food crops
Current negotiation status
Failed (Contract cancelled)
Current implementation status
Project abandoned
Deal size
350 ha