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AGI to capitalize on tourism business

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Alliance Global Group Inc. (AGI), the investment arm of tycoon Andrew Tan, is positioning itself as the biggest player in the country’s tourism sector, which it considers the low-hanging fruit for the Philippine economy. | ManilaBulletin

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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