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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. ....
LT Group doubling capex in 2021 enablePagination: false endIndex: 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. ....