BusinessWorld
May 6, 2021 | 12:08 am
By
Keren Concepcion G. Valmonte
LUCIO C. Tanâs LT Group, Inc. (LTG) is allocating P9.7 billion for capital expenditures (capex) this year, nearly double the previous yearâs P5-billion budget as the company expects the slow opening of the economy to âbode well for all businesses in general.â
The listed holding firm is formed by Tanduay Distillers, Inc. (TDI), Asia Brewery, Inc. (ABI), Fortune Tobacco Corp., PMFTC, Inc., Eton Properties Philippines, Inc., Philippine National Bank (PNB), and Victorias Milling Co., Inc.
Nearly half or P4.6 billion of the companyâs capex will be allocated for PNBâs digitalization efforts.
Published May 4, 2021, 4:00 PM
Real estate giant Ayala Land Inc. (ALI) reported a 36 percent drop in net income to P2.8 billion in the first quarter of the year as it continued to weather the impact of the ongoing COVID-19 pandemic on its operations.
In a disclosure to the Philippine Stock Exchange, the firm said it registered a 13 percent decline in consolidated revenues to P24.6 billion, versus the first quarter of 2020, due to restrictions brought about by the pandemic.
However, sales reservations rose 15 percent to P28.5 billion in the first quarter of 2021 from the P24.7 billion posted in the same period last year as local demand remained robust amid the community quarantines. This was likewise an increase of 35 percent from the fourth quarter of 2020.
Ayala Land to issue over 609-M common shares for merger with subsidiaries
May 4, 2021 | 12:07 am
Of the total shares issued, 491,306,375 shares will be treated as treasury shares.
Cebu Holdings, along with Asian I-Office Properties, Inc., Arca South Commercial Ventures Corp., and Central Block Developers, Inc., will be absorbed by Ayala Land through the merger.
Ayala Land has a 71.13% stake in Cebu Holdings. The company will issue 0.19 common shares for each of Cebu Holdings’ issued and outstanding shares, which means Ayala Land will issue a total of 409,783,760 common shares to the firm.
Wholly owned Cebu Holdings subsidiary Asian I-Office Properties is also part of the merger and will receive 3.29 Ayala Land common shares for every share. The transaction will total 22,244,841 of Ayala Land common shares.
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BusinessWorld
April 22, 2021 | 12:07 am
AYALALAND.COM.PH
LISTED property developer Ayala Land, Inc. is expecting to recover by the second half of the year and is preparing P100-billion worth of residential products in the pipeline.
“With the steady rollout of our ambitious national vaccination program, of which the Ayala Group and especially Ayala Land would play a critical role, I believe that we can start to show signs of recovery by the second half of this year,” Ayala Land Chairman Fernando Zobel de Ayala said at the virtual stockholders’ meeting on Wednesday morning.
However, the company believes it will take around two to three years to return to pre-pandemic levels.