AEV, AGI keen on hiking 2025 capex

MANILA, Philippines — Conglomerates Aboitiz Equity Ventures Inc. (AEV) and Alliance Global Group Inc. (AGI) are keen on jacking up their capital spending for next year.

In a disclosure, AEV said it is considering plans to spend up to P250 billion in capital expenditures in 2025.

“AEV, alongside other businesses in our portfolio, is in constant pursuit of opportunities to grow our businesses as we position ourselves as the country’s first techglomerate,” AEV said.

However, the listed conglomerate said that “this planning stage does not constitute a firm commitment from the company.”

For this year, the Aboitiz Group has more than doubled its capex to P153 billion, with a majority allotted to its renewable energy projects in the pipeline.

Further investments are being made to develop its retail banking business, support utility infrastructure projects and expand its food group, among others.

AEV is aiming to significantly expand the contribution of the company’s non-power business in the coming years as part of the group’s diversification strategy.

In a separate disclosure, Andrew Tan’s listed holding company AGI said that beyond 2024, there is a possibility that its annual group capital expenditure could hit P100 billion in any given year in view of its collective long-term growth plans.

“This P100 billion figure is a projected capital expenditure that is forward-looking in nature. However, this is an initial forecast and nothing is defined or committed yet,” AGI said.

AGI has allocated P75 billion in capital expenditure this year as part of its commitment to sustain its recent growth pace.

This year’s budget is 19 percent higher than its actual spend of P63 billion in 2023.

The bulk of AGI’s spending, or about P55 billion, will be allotted for Megaworld, which is expanding its real estate portfolio to 35 townships this year with the launch of new developments, mostly outside of Metro Manila.

Travellers International is spending P10 billion for its ongoing expansion projects, mainly within its Newport World Resorts complex in Pasay City.