LT Group Inc., the holding company of tycoon Lucio Tan’s businesses, said it will keep its planned capital spending for the year at P6 billion up to P8 billion, but is reviewing the plan due to uncertainty linked to the conflict in the Middle East.
The company said its businesses, including Asia Brewery, have enough capacity to support demand. Some production lines have already been adjusted to handle higher volumes.
Chief financial officer Jose Gabriel D. Olives said the spending level may stay close to historical average depending on conditions.
LT Group president and COO Lucio C. Tan III said the company is focusing on improving performance rather than expanding aggressively. The priority is to boost operating profit and return on equity across its units.
He said the group will shift to expansion plans later, but for now is concentrating on efficiency, disciplined execution, and long-term value creation.
Tan also said the planned stock market listing of PNB Holdings Corp., the property arm of the group, may be delayed due to weak market conditions.
The Securities and Exchange Commission has already approved its registration for up to 46.93 billion shares, with an expected listing price of P1.20 per share, valuing it at about P55.32 billion.
The listing was expected to follow a property dividend distribution from Philippine National Bank (PNB), which would expand the shareholder base to more than 30,000 investors.
PNB Holdings’ key assets include major properties in Pasay and Makati, as well as a prime lot in Makati targeted for future redevelopment.
Tan said the company wants to wait for better market conditions to maximize the value of the listing.
For the rest of the year, LT Group said it will focus on strengthening core businesses, improving digital systems, expanding sustainability efforts, and building its workforce, while managing risks carefully.
