SUPERMARKET giant Pick ‘n Pay has pulled out a joint venture with oil group Shell to set up stores at service stations in the Philippines, the company announced Tuesday.Managing Director Sean Summers said that following the completion of a due diligence survey, which constituted the first phase of the agreement, it became clear that certain assumptions in the original business proposal were incorrect. ”We have therefore decided that it would be in the interests of both parties that we cease further discussions on the Philippines,” Summers said. ”However, in the next few months, Shell will assess other opportunities within the group worldwide and revert to us should any be suitable to both parties.”The total cost of the Philippines venture was approximately $1,5-million.