LT Group doubling capex in 2021
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Metro Manila (CNN Philippines, May 5) LT Group Inc., the conglomerate of tycoon Lucio Tan with businesses in tobacco, liquor, property, and banking sectors, is allotting a ₱9.7-billion investment on expectations that the market is set for a rebound this year.
The figure is almost double the group s capital expenditures earmarked in 2020, LT Group president and chief operating officer Michael Tan said during its annual stockholders meeting on Wednesday.
Spending last year was set at ₱5 billion, he noted.
Breaking it down, the bulk or ₱4.6 billion of the capex has been earmarked for Philippine National Bank s digitalization program.