AGI to capitalize on tourism business

During the firm’s annual stockgholders’ meeting, AGI Chief Executive Officer Kevin L. Tan said “AGI will continue to pursue expansion projects that will help put it at a vantage position to elevate the tastes and preferences of the Filipino consumer and customers worldwide with its aspirational product offerings, further reinforcing its position as the country’s truly premium lifestyle conglomerate.

AGI is allocating P70 billion for capital expenditures this year to strengthen its position as the country’s premium lifestyle conglomerate with projects, products and services designed to further uplift consumer tastes and preferences. For this year, Megaworld is spending P55-billion in capex for its aggressive plans to expand its office, mall and hotel business segments, support the completion of P73 billion worth of projects ready for turnover in the coming months, and launch 20 new development projects this year valued at P60 billion.

Travellers International is allocating P4 billion mainly for its ongoing expansion projects at the Newport World Resorts complex.

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PHL potential as a key player in global semiconductor industryListen to this episode from BusinessWorld B-Side on Spotify. The Philippine government needs to invest more in the local semiconductor industry to boost its competitiveness globally, according to RS Group PLC, an electronics and industrial products distributor. In this B-Side episode, Sean Fredericks, the President of RS Asia-Pacific, discusses with reporter Sheldeen Joy Talavera the potential of the Philippines to become a key player in the industry. 'The Philippines itself is a critical player in the global semiconductor industry... The country's strategic location provides crucial access to the Southeast Asian market through international shipping and air routes,” he said. He also said that the country's English-proficient population and strict adherence to intellectual property protection and international labor laws make it an attractive investment destination. The B-Side episode was recorded remotely on May 23, 2023.
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