San Miguel Corporation is also "seriously considering" entering the broadcast industry, but declined to elaborate.
The planned acquisitions will be funded through the company's internal cash flow and financing, Ang said.
Cojuangco said the reshaping of SMC will have a significant impact on its financials, allowing the company to reach its P1-trillion sales target in the near term, double the P536 billion it posted in 2011.
Last year, SMC's new businesses of oil refining and power contributed 63 percent to sales.
The planned acquisitions will be funded through the company's internal cash flow and financing, Ang said.
Cojuangco said the reshaping of SMC will have a significant impact on its financials, allowing the company to reach its P1-trillion sales target in the near term, double the P536 billion it posted in 2011.
Last year, SMC's new businesses of oil refining and power contributed 63 percent to sales.
With the Philippine conglomerate’s recent investments in Exxon Mobil's downstream oil business in Malaysia, and in the firms operating the Skyway and South Luzon Expressway, Cojuango said SMC will continue to grow significantly, representing a fundamental shift in its business.
"By 2015, our infrastructure projects will begin generating significant cash flow, and once finished, our upgrade of Petron's Bataan refinery will result in greater efficiencies, a shift towards more profitable, value-added products and better margins," Cojuangco said.
While SMC is aggressively expanding into high-growth industries, Cojuangco said the company will continue to pursue growth opportunities in its traditional food and beverage businesses.
The conglomerate has been trimming its stake in its traditional businesses since 2007 to support its diversification into infrastructure, power, oil retailing, telecommunications and mining.
Shareholders of SMC approved its planned capital stock hike from P22 billion to P30 billion, which will pave the way for the creation of 1.1 billion Series 2 preferred shares.
Ang said the plan is to offer the Series 2 preferred shares in a single tranche this September, raising gross proceeds of up to P80 billion to refinance existing debt.
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10 comments:
bagong channel???
MSAYA un GO HEAD SMC para un mga tinatapon n mga artista may mga work parin...
ABS-KAPAMILYA
GMA-KAPUSO
TV5-KAPATID
SAN MIGUEL CORP CHANEL-KA-INUMAN
heheheheheh......
actually bibilhin ng san miguel ang RPN o chanel 9, that will chalenge abs, tv 5 and GMA 7 which is the current number 1
tv station in the philippines.
ano kaya ang style ng channel na ito san miguel products channel??? welcome sa pagpipilian ng viewers
ano naman ang i-air nila jan? cguro puro tvc ng products nila,,,,hehe
Sana mafkaroon ng channel dito na may niche like CW na teens ang audience.
Baka ang SMC papasok nang tuluyan ang broadcasting initially via a blocktimer... Kung successful man ito gagawa sila ang isang bagon TV channel...
Welcome na welcome yan syempre. I think ung IBC ang kukunin nila, as previously rumored. Tama yan, diversification, para kung malugi ang ibang division, kikita nmn sa iba. More TV stations mas maraming artista at mas tataas ang kalidad ng tv shows sa atin. Bottomline, panalo pa rin ang viewers. Sana yung TAPE ay mag tayo na rin sariling TV station. Kapag nagkataon, babagsak ang GMA lalo dahil Eat bulaga lang nmn ang bumubuhay sa kanila. Claim nilang no. 1 daytime eh block timer nmn ng TAPE un. Di nmn sa bitter, bwahahaha
Example, if the four of the Richest people in the Philippines (Henry Sy, Lucio Tan, Enrique Razon Jr. and John Gokongwei Jr.) buys the two government broadcasting company in the Philippines are People's Television Network, Inc. (PTNI) (the owner of PTV 4 (PTV 4 is the Government TV Station)) and Philippine Broadcasting Service (another government radio network company). What will be the mega-result?
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