Ayala Corporation to Spend Up and Rise Up
- Jeremiah Monreal
- Feb 7, 2018
- 2 min read
The Ayala Corporations is targeting to raise capital activities to boost up their stocks for this year 2018. They also hinted that they tapped some sharers like the local debt market as they will hit the ramp up for the capital expenditures for this year coming from the ranking official statement.
“I think as a group, it will be bigger than 2017,” said by Ayala CFO Jose TeodoroLimcauco in an interview.It will be a bigger spending this year for the Ayala group to sum up their biggest goals for the acquired achievements of the company.
As part of the daily report of the Ayala Company, the conglomerate gave an allotted P185 million for the capital expenditures last year of 2017 and it is said that the company will merge their biggest sources and stock sharers for the year 2018.
To support the finance as the higher capital spending body of the Ayala Company, Limcauco said that is looking at all possible opportunities, particularly in the local bond market.
“We have very strong support from our banks and we have enough backlines, but we would look at possibly a bond issue if markets are conducive. I think markets right now are a little bit in a flux,” Limcauco said.
Last year of 2016,Ayala Corps. said that they’ve targeted to double their net income to P50 billion by the year 2020 and it is now proved that they can reach that kind of goal. As part of their company’s support system, the company also expanded their community sharing like in the education and in health. The Ayala Groups AC Education system and the QualiMed Health Network are in for their big company projects for the upcoming years.
“They’re going through a process. They have to understand what they have to do with QualiMed and we will participate if we think the value is there. But it has to be arm’s length because they have a partner. The partner has to agree also,” Limcauco stated.