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 3, 2021, 5:00 AM
Eton Properties Philippines Inc. is looking to meet rising demand for small office space which is on the rise due to the unique situation arising from the pandemic.
“While demand for office spaces took a dip last year because of the pandemic, the latest trends suggest a rising demand on a particular segment of the office leasing industry,” said Eton Properties Chief Operating Officer Karlu Tan Say.
She said this is the demand for small office spaces.
“Having a work-from-home business model for employees would mean saving office expenses like utilities, supplies, among others. Shifting to a smaller office space can cut down costs without having to cut down on manpower,” Say said.
Published April 22, 2021, 5:00 AM
Eton Properties Philippines, Inc. (EPPI) reported an 11 percent decline in net income to P802 million last year from P900 million in 2019 as higher rental income offset the adverse impact of the pandemic.
In a statement, Eton said gross revenues dropped 21 percent to P2.6 billion in 2020 from P3.3 billion in the previous year but noted a 2.9 percent growth in rental income to P1.76 billion last year, despite a global slowdown due to the Covid-19 pandemic.
The growth in the company’s rental income was the result of office, commercial, and residential leasing revenue, as well as, hotel room sales.
She also asked for prayers for her father’s speedy recovery and “some privacy at this time.”
Lucio Tan founded the LT Group, Inc. whose subsidiaries and associates are Tanduay Distillers, Inc.; Asia Brewery, Inc.; Fortune Tobacco Corp.; Philippine National Bank; Saturn Holdings, Inc.; Paramount Landequities, Inc.; and Eton Properties Philippines, Inc.
Tan is the third richest Filipino in the Forbes’ 2021 World s Billionaires List. His net worth is listed at $3.3 billion (nearly ₱160 billion).
Lucio Tan in stable condition after being hospitalized due to COVID-19 cnnphilippines.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnnphilippines.com Daily Mail and Mail on Sunday newspapers.