Alliance Global Group Inc. is committing a P70- billion capital spending this year to expand its business.
The amount is higher than the P52 billion spent last year.
Carol Kabigting, AGI investor relations head, said at the PSE Star Investors Day forum yesterday P55 billion will go to Megaworld Corp. P7 billion to Emperador Inc., and the balance divided between Travellers International Hotels Group Inc. and Golden Arches Development Corp.
Kabigting said part of the capex going to Megaworld will be spent on three big-scale mixed-use development in Luzon and Mindanao and the P60-billion residential projects from which the company hopes to book reservation sales of P130 billion this year.
In the next five years, Megaworld is also looking to increase its gross leasable office space by 207,000 square meters (sq.m.) and its gross leasable mall space by 160,00 sq.m. and add 3,160 hotel keys to its portfolio, according to Kabigting.
Emperador is on track to achieve its target of contributing 50 percent of the AGI Group’s topline from the current 35 percent.
Emperador is building presence in big spirits markets like China and North America.
Travellers International which operates its 13-year old Newport Resorts World is working to rebuild its premium mass segments to improved the share of its mass gross gaming revenues to 50 percent of total from the current 40 percent. It is also looking at further expanding its VIP business to increase charter operations, while working to further improve foot traffic in the Newport Resorts World.
Golden Arches, which holds the master franchise for McDonald’s in the Philippines, plans to launch 50 stores around the country.
