Petron Corp. is eyeing P11.05 billion in capital expenditure for the year, 30 percent higher from last year’s P8.48 billion.
The company said in a regulatory filing the amount is based on management’s estimates and has not been appraised by an independent organization. The figure may change “as projects are reviewed or contracts entered into and are subject to various factors, including market conditions, the general state of the Philippine and Malaysian economies.”
The final amount will also be subject to the company’s operating performance and cash flow as well as its ability to secure acceptable financing terms.
Petron said this year’s capex will be funded by a combination of internal cash generation and external financing sources.
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