In capitalism, you have no choice but to compete until your last breath in order to survive it because capitalism will penalize everyone who is not performing in the markets like bankruptcy. This capitalism reality fits with the individual's natural right for self-interest, no wonder capitalism won over communism because we are greedy in nature.
The Sys and the Zobels do business differently. Quality of Ayala developments are far better than those of SM's.
Galante ni ang mga Espanyol then practical ni ang mga Chinese.
The Ayalas need not expand aggressively the way SM does because they charge and earn a lot more than SM in terms of per land/property area.
I'm with you bro. Looking at how the malls are designed and constructed. I'd would give it to the Ayalas. I'm not sure about galante, I would instead call it Quality and targeting a different set of consumers..
--updates
What do you know.. The Ayalas are joing the fry.
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Ayala group sets P185-B capex in 2015; bulk for real estate, telecom
by James Loyola
February 12, 2015
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The Ayala group is allotting P185 billion for capital expenditures this year, slightly lower than the P190-billion capital expenditures (capex) programmed in 2014, as it continues to support the massive expansion plans of its core businesses.
In a statement, Ayala Corporation said the capex will be primarily for its real estate and telecom units even as it continues to ramp up its investments in power generation and transport infrastructure.
“We started an aggressive growth strategy a few years back and we continue to undertake value enhancing opportunities amidst this sustained momentum in our economy,” said Ayala Chairman Jaime Augusto Zobel de Ayala.
He explained that “each of our business units is seizing investment opportunities within their individual spaces under this positive environment. In particular, we continue to strengthen our positions in power and transport infrastructure – two sectors that are presenting opportunities for investments with potential to become new growth platforms for Ayala.”
Property giant Ayala Land, Inc. will be getting the lion’s share of the capex, amounting to a record P100 billion, to bankroll its aggressive expansion program in line with its “2020 Vision” business plan.
The plan will support ALI’s aim of posting an average growth of 20 percent annually with an end goal of reaching P40 billion in net income by 2020 from P11.7 billion in 2013.
Globe Telecom, Inc. has programmed around P29 billion in capex this year primarily for data-related initiatives and LTE network infrastructure upgrades.
With P8 billion from its planned capital expenditures in 2014 sliding into the first half of this year largely due to timing issues, Globe’s total capital spending will be about P37 billion in 2015.
At the parent level, Ayala Corporation will deploy P21 billion primarily to support investment programs in power generation and transport infrastructure.
The rest of the amount will be deployed to fund the growth initiatives of the other business units, including Manila Water Company, Inc., Bank of the Philippine Islands, and Integrated Micro-Electronics, Inc.
“We have seen robust growth in our earnings in the first three quarters of 2014 and we are optimistic that our fourth quarter growth will be at an even faster pace,” AC chief finance officer Delfin Gonzalez noted.
He added that “we remain positive about the country’s overall macroeconomic environment this year as reflected in the aggressive capital spending we have planned out. The company will release its full year financial and operating results next month.”
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