It is certain that his subsequent conduct betrayed no further trace of the Philip, through whose negligence the plan of Hannibal suffered shipwreck.
Macedonia and Asia Attack Egypt When Philip concluded his treaty with the Aetolians and Romans in 548-9, he seriously intended to make a lasting peace with Rome, and to devote himself exclusively in future to the affairs of the east.
It admits of no doubt that he saw with regret the rapid subjugation of Carthage; and it may be, that Hannibal hoped for a second declaration of war from Macedonia, and that Philip secretly reinforced the last Carthaginian army with mercenaries.( 2) But the tedious affairs in which he had meanwhile involved himself in the east, as well as the nature of the alleged support, and especially the total silence of the Romans as to such a breach of the peace while they were searching for grounds of war, place it beyond doubt, that Philip was by no means disposed in 551 to make up for what he ought to have done ten years before.

He had turned his eyes to an entirely different quarter.
Ptolemy Philopator of Egypt had died in 549.

Philip and Antiochus, the kings of Macedonia and Asia, had combined against his successor Ptolemy Epiphanes, a child of five years old, in order completely to gratify the ancient grudge which the monarchies of the mainland entertained towards the maritime state.

The Egyptian state was to be broken up; Egypt and Cyprus were to fall to Antiochus Cyrene, Ionia, and the Cyclades to Philip.

Thoroughly after the manner of Philip, who ridiculed such considerations, the kings began the war not merely without cause but even without pretext, "just as the large fishes devour the small." The allies, moreover, had made their calculations correctly, especially Philip.