'We expect another challenging market environment in 2024,' Isidro Consunji, DMCI chairman, president and CEO, said in a statement ahead of the company's annual stockholders' meeting on May 21.He said the global economic slowdown could impact coal and nickel demand, while higher interest rates and inventories might stall the recovery of the construction order book and real estate sales.
will concentrate on meeting its targets for production, shipment, and plant availability, seeing potential upside with the capacity restoration of its Batangas power station.Power subsidiary DMCI Power aims to strengthen market leadership and gain traction in the renewable energy space through its upcoming wind and solar projects.DMCI Mining, meanwhile, targets higher shipments for short-term revenue support to offset the effect of declining nickel prices.
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DMCI Holdings acquires Cemex PH parent company for $305.6-MDMCI Holdings [DMC 10.86 ?0.7%; 52% avgVol] [link] and Semirara Mining and Power [SCC 32.50 ?0.8%; 22% avgVol] acquired Cemex Asian South East Corp (CASEC), the parent company of Cemex Philippines [CHP 1.36 ?28.4%; 267% avgVol], in a deal worth $305.6 million (~P17.6 billion).
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