San Miguel planning US$34b investments, says president
It is also "evaluating and may bid" for Vietnam's Saigon Beer, he adds; profit seen rising at least 20% this year
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Manila
SAN Miguel Corp plans to invest US$34 billion in an oil refinery, an integrated steel complex and an ocean-tide power plant as the Philippines' largest company by sales expands amid forecasts for robust economic growth in the country, according to its president.
The company, which sells nine of every 10 beers in the Philippines, is also "evaluating and may bid" for Saigon Beer Alcohol Beverage Corp, president Ramon Ang told reporters on March 31. Vietnam may provide an anchor to increase its brewery business as consumption in the country is growing at an annual rate of at least 10 per cent, five times that in the Philippines, he pointed out.
Share with us your feedback on BT's products and services
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
