The holding firm of billionaire Andrew Tan expects faster growth next year anchored on expansion across its business units.
"The growth momentum is there. We expect growth for next year obviously," Alliance Global Group Inc (AGI) president Kingson Sian said on the sidelines of Emperador Inc's special stockholders meeting on Monday.
AGI's net income attributable to equity holders was flat at P11.4 billion in the first nine months of the year due to reduced ownership in Emperador and Travellers International Hotel Group Inc.
Property arm Megaworld Corp will "continue to expand on all fronts," launching more projects fuelled by the country's high-growth trajectory and the recovery in the United States, Sian said.
Megaworld maintained an upbeat outlook on the sector even after the Bangko Sentral ng Pilipinas imposed stricter control on lending to real estate.
"Most of our buyers, majority is still funded out of equity. [It may affect] those that need more financing. Based on our financing plan, by the time we turn over [our projects], buyers would have paid 40-50 percent so pasok ka na sa value," Sian said.
Liquor maker Emperador will introduce new products and capitalize on synergies with Scotch whisky maker Whyte & Mackay for its expansion into new markets.
"With the acquisition, we need to be able to leverage off each other's network. Whyte & Mackay is expanding into new markets, same with Emperador, and also introducing new products to the market," Sian said.
A joint venture with Genting of Malaysia, Travellers International will continue expanding Resorts World Manila with the Marriott Grand Ballroom expected to be completed next year. The new wing of the Marriott Hotel will be unveiled in 2016, followed by the completion of the third phase expansion in 2017 and the opening of Bayshore City Resorts World in 2018.
Golden Arches Development Corp, the master franchisee of McDonald's in the Philippines, is on track to open its 500th store next year. McDonald's already has 430 stores in the Philippines.
During the special meeting, Emperador shareholders approved the issuance to Arran Investment Private Limited of up to P22 billion worth of common shares and equity linked securities convertible to common shares. Arran Investment is an affiliate of GIC, Singapore's sovereign wealth fund.
- Interaksyon
"The growth momentum is there. We expect growth for next year obviously," Alliance Global Group Inc (AGI) president Kingson Sian said on the sidelines of Emperador Inc's special stockholders meeting on Monday.
AGI's net income attributable to equity holders was flat at P11.4 billion in the first nine months of the year due to reduced ownership in Emperador and Travellers International Hotel Group Inc.
Property arm Megaworld Corp will "continue to expand on all fronts," launching more projects fuelled by the country's high-growth trajectory and the recovery in the United States, Sian said.
Megaworld maintained an upbeat outlook on the sector even after the Bangko Sentral ng Pilipinas imposed stricter control on lending to real estate.
"Most of our buyers, majority is still funded out of equity. [It may affect] those that need more financing. Based on our financing plan, by the time we turn over [our projects], buyers would have paid 40-50 percent so pasok ka na sa value," Sian said.
Liquor maker Emperador will introduce new products and capitalize on synergies with Scotch whisky maker Whyte & Mackay for its expansion into new markets.
"With the acquisition, we need to be able to leverage off each other's network. Whyte & Mackay is expanding into new markets, same with Emperador, and also introducing new products to the market," Sian said.
A joint venture with Genting of Malaysia, Travellers International will continue expanding Resorts World Manila with the Marriott Grand Ballroom expected to be completed next year. The new wing of the Marriott Hotel will be unveiled in 2016, followed by the completion of the third phase expansion in 2017 and the opening of Bayshore City Resorts World in 2018.
Golden Arches Development Corp, the master franchisee of McDonald's in the Philippines, is on track to open its 500th store next year. McDonald's already has 430 stores in the Philippines.
During the special meeting, Emperador shareholders approved the issuance to Arran Investment Private Limited of up to P22 billion worth of common shares and equity linked securities convertible to common shares. Arran Investment is an affiliate of GIC, Singapore's sovereign wealth fund.
- Interaksyon
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