Alliance Global Group Inc., a diversified investment holding company of tycoon Andrew Tan, said Thursday it set aside P70 billion for capital expenditures this year, a 23 percent increase from 2022, to sustain growth momentum, both here and abroad.
The listed conglomerate is also meant to strengthen its position as the country’s premium lifestyle conglomerate with projects, products and services designed to further uplift consumer tastes and preferences.
“AGI has been focused on delivering products and services that create a bespoke and premium lifestyle for our discerning customers. A firm believer of the country’s attractive long-term growth prospects, the Group is betting on the continued improvement in consumer spending,” said Alliance Global chief executive officer Kevin Tan during the company’s annual meeting.
Alliance Global has varied business interests, including real estate developments through Megaworld Corp.; spirits manufacturing via Emperador Inc.; leisure, entertainment and hospitality through Travellers International Hotel Group, Inc.; and, quick service restaurants through Golden Arches Development Corp., popularly known as McDonald’s Philippines.
The company recorded a 20 percent year-on-year increase in consolidated revenues in 2022 to P183.6-billion, while pre-minority income grew by 6 percent year-on-year to P25.2-billion.
“AGI is also positioned as the biggest player in the country’s tourism sector, considered as the low-hanging fruit for the Philippine economy,” CEO Tan said.
The company is developing new tourism estates to add to its premium townships like its mountain resort development, Twin Lakes in Tagaytay, and its popular beach resort destination, Boracay Newcoast, in Boracay. The Group has a 300-hectare property called The Hamptons Caliraya, a sprawling lakeside township in Laguna that allows residents to construct their own homes with built-in docking areas along the famed Lake Caliraya.
“Moving forward, 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,” Tan said.
