Alliance Global sets P59-B capex for 2025
According to AGI, bulk or P50 billion of the capital expenditure will go to Megaworld Corp., which earlier announced plans to expand with at least two more townships in growth areas in Luzon and Visayas this year.
Megaworld also plans to increase its gross leasable area (GLA) by 139,000 square meters with offices in Bacolod, Bulacan, Davao, Iloilo, and Pampanga, on top of 151,000 square meters of additional leasable area in malls in Boracay, Bacolod, Pampanga, Cavite, Rizal, and Metro Manila.
It will also add around 3,600 hotel room keys in Metro Manila, Pampanga, Palawan, Bacolod, Iloilo, and Boracay, with plans to increase its MICE venues.
Another P5 billion will be used to finance the ongoing expansion projects of Travellers International, specifically the development of The Narra Palm Hotel and Villa in the Newport World Resorts complex, which will have 157 hotel suites and villas.
'We believe there exist a lot of opportunities here and across the globe where our business can grow, especially in the areas of consumer, real estate, leisure, and tourism spaces where we have built-in competitive advantages,' AGI chief executive officer and president Kevin Tan said in a statement.
'Our capital investments are expected to continue to focus on market expansions and strengthening our operational capacities,' he added. — VBL, GMA Integrated News
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
GMA Network
15-07-2025
- GMA Network
BSP mulls increase in Instapay's P50,000 limit per transaction
The Bangko Sentral ng Pilipinas (BSP) is looking to increase the P50,000 limit per transaction under the InstaPay electronic fund transfer payment system, given the increasing demand from the public, an official said Tuesday. According to BSP assistant governor Redentor 'Dennis' Bancod, the P50,000 limit per transaction was made to keep transactions below the radar of the Anti-Money Laundering Council (AMLC), as processing times for those above the threshold could take longer. 'Now with this clamor, the BSP is studying the implications of increasing that amount to a certain level," Bancod said in a panel during the Chamber of Thrift Banks Convention. "We know that in the other jurisdictions like Singapore, Malaysia, and Thailand, they already increased their limits on real-time instant payments, so in our case, we're also studying that,' he added. Launched in 2018, InstaPay allows individuals, businesses, and government institutions to send and receive funds or make payments in real time of up to P50,000 per transaction. Bancod said the central bank is also conducting a similar concurrent study involving another use case of InstaPay, which will be for transactions made between businesses. 'We recognize that most of these requests are actually for a business type of payment, like for SMEs (small and medium enterprises), commercial supply payments, and so on, so forth,' Bancod said. 'The automated clearing house of InstaPay under PPMI (Philippine Payments Management Inc.) is actually already working towards launching a B2B use case, and in that case, it will allow a bigger limit as long as the originator is a business corporation,' he added. –NB, GMA Integrated News
GMA Network
08-07-2025
- GMA Network
P50B license fees collected from 70 legal online gambling platforms in 2024 –PAGCOR
The Philippine Amusement and Gaming Corporation was able to gather P50 billion in license fees from up to 70 legal online gambling platforms in 2024. In a Balitanghali interview on Tuesday, PAGCOR chairman and CEO Alejandro Tengco said that 50% of the fees were immediately remitted to the National Treasury. The remainder of the fees were used to subsidize other agencies such as PhilHealth, the Philippine Sports Commission, and the Dangerous Drugs Board. 'Ang na-contribute po ng online gaming alone sa PhilHealth ay mayroon pong kulang P6.5 billion. So kung ating titignan, sa 30,000 average, can you imagine ilang milyon 'yung ating natulungan sa pamamagitan ng online gaming sa pasyente ng PhilHealth?' said Tengco. (Online gaming alone has contributed almost P6.5 billion to PhilHealth. If you can see, out of the 30,000 average, can you imagine how many million more PhilHealth patients can we help through online gaming?) Tengco said there were hundreds of illegal online gambling platforms operating from outside the country and targeting Filipinos, which was destroying the online gaming industry. 'Ang masakit nito, they are operating from outside the Philippines. Ang tinatarget nila ay mga Filipino customers… Ang masakit po, 'yan ang mga kumpanyang di nakapagreregulate nang tama,' he said. (What is painful here is that they are are operating from outside the Philippines. They are targeting Filipino customers… What hurts is that these companies are the ones who are unable to regulate properly.) 'Sa PAGCOR, pagka ikaw ay may license, dapat dumaan ka sa isang masusing pagtetest ng iyong mga games para nang sa ganoon ay makitang patas ang palaro. Ikaw ay kailangan magbayad sa nanalo, at ikaw ay dapat magbalik ng deposito ng player mo anong oras man hingin ito ng player sa'yo,' he added. (Under PAGCOR, if you have a license, you must undergo a strict testing of your games to show that you are playing fair. You need to pay the winners, and you need to return the player's deposits whenever the player asks it from you.) There are currently proposals from lawmakers to enforce restrictions or a total ban on online gambling platforms. Proposed regulations include restrictions and further policies on age verification protocols, advertising, and player protection, among others. 'Online gambling is accessible anytime, anywhere and often anonymously, making it particularly addictive and harmful to minors, persons who may be vulnerable to the lure of gaining easy money, and those desperate to make ends meet. Online gambling thus poses unique and costly risks, not only for those who gamble but also their families, communities, and Philippine society,' Akbayan party-list Representatives Chel Diokno, Perci Cendaña, and Dadah Ismulla said on the exploratory note of House Bill 1351 or the Kontra e-Sugal Act. —Jiselle Anne Casucian/AOL, GMA Integrated News
GMA Network
19-06-2025
- GMA Network
Alliance Global sets P59-B capex for 2025
Alliance Global Group Inc. (AGI) has earmarked P59 billion for its capital spending this year, which the company will use to finance landmark projects and expansions. According to AGI, bulk or P50 billion of the capital expenditure will go to Megaworld Corp., which earlier announced plans to expand with at least two more townships in growth areas in Luzon and Visayas this year. Megaworld also plans to increase its gross leasable area (GLA) by 139,000 square meters with offices in Bacolod, Bulacan, Davao, Iloilo, and Pampanga, on top of 151,000 square meters of additional leasable area in malls in Boracay, Bacolod, Pampanga, Cavite, Rizal, and Metro Manila. It will also add around 3,600 hotel room keys in Metro Manila, Pampanga, Palawan, Bacolod, Iloilo, and Boracay, with plans to increase its MICE venues. Another P5 billion will be used to finance the ongoing expansion projects of Travellers International, specifically the development of The Narra Palm Hotel and Villa in the Newport World Resorts complex, which will have 157 hotel suites and villas. 'We believe there exist a lot of opportunities here and across the globe where our business can grow, especially in the areas of consumer, real estate, leisure, and tourism spaces where we have built-in competitive advantages,' AGI chief executive officer and president Kevin Tan said in a statement. 'Our capital investments are expected to continue to focus on market expansions and strengthening our operational capacities,' he added. — VBL, GMA Integrated News
