The gradual revival of pre-pandemic consumption patterns gives the Philippine Retailers Association a positive outlook for the country’s retail industry in the third and fourth quarters of 2022.
The gradual revival of pre-pandemic consumption patterns gives the Philippine Retailers Association (PRA) a positive outlook for the country’s retail industry in the third and fourth quarters of 2022. By and large, this rising trajectory is also owed to the resilient retailers that strategized and doubled time amid health and…
Phoenix slashes 2021 capex by nearly half on April 21, 2021 at 11:49 am
Phoenix Petroleum has cut down its capital expenditure (capex) for 2021 to Php800 million, nearly half its Php1.5 billion allocation in 2020 to save cash and rationalize spending.
Based on a report from BusinessMirror, Phoenix Petroleum Vice President for External Affairs Raymond Zorrilla said the lower capex for this year will allow the country’s third-largest oil firm to focus on its expansion plans and take advantage of existing assets and capital line strategy.
Phoenix’s capex for 2020 was actually half of the Php3 billion it programmed for the year.
This year’s capex would be sourced from internal funds and will include the carry-over budget from 2020 and growth capex for liquefied petroleum gas (LPG) and retail.