
San Miguel president Ramon S. Ang. INQUIRER FILE PHOTO / LEO M. SABANGAN II THE GLOBAL economic environment would make 2015 a challenging year for Philippine companies, which could also face headwinds from the specter of a property bubble on the local front, San Miguel Corp. president and chief operating officer Ramon Ang warned yesterday. Despite this, the country’s biggest conglomerate—with some P1.6 trillion worth of assets in its portfolio—plans to accelerate its investment plan over the next three years even as other business groups take their foot off the gas pedal while waiting for clearer signals ahead of next year’s presidential elections. “Over the next two or three years, our combined capital expenditures will reach about P360 billion across the entire group,” Ang said during an annual interview where he sets out San Miguel group’s strategy. He hinted at expansion plans in new lines of business, but declined to reveal them, saying that rivals and competitors were closely watching San Miguel’s moves. Ang said, however, that all existing business units would see additional investments to help them grow and widen their market footprint locally and overseas. “We will carry on with our expansion plans in all sectors, from our oil refineries, gas stations, the petrochemical business, power generation, infrastructure, mining and our traditional businesses like food, beer, our hard liquor business, and our packaging business,” he said. On top of San Miguel’s list is an aggressive expansion program for Petron Malaysia, which will see the third-largest petroleum firm in Read More …