8 months GT Capital: 2019 capex down markedly at P52B Manilatimes |Biz
TY-LED conglomerate GT Capital Holdings Inc.’s 2019 capital expenditures (capex) have been capped at P52 billion, a senior official said last week. GT Capital Chief Finance Officer Francisco Suarez told reporters that this year’s spending would be 53 percent lower compared to 2018’s P110 billion. Last year’s spending, Suarez noted, was significantly higher given big-ticket items such as a $200-million investment in Japan’s Toyota Motor Corp., among others. For this year, GT Capital allocated P27.8 billion for itself, P12 billion for Federal Land, Inc., P6.8 billion for Toyota Motor Philippines Corp., P2.3 billion for Property Company of Friends, Inc., P2 ... more