SMC aims for stronger finish, expects major projects to complete in 2018

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FILE PHOTO

Metro Manila (CNN Philippines, July 10) — Diversified conglomerate San Miguel Corp. (SMC) expects two major projects to be completed by the end of the year.

During the annual stockholders meeting of Top Frontier Investment Holdings, Inc. (TFIH) on Tuesday, SMC President and COO Ramon Ang said the company should complete a two-million hectare brewery project in Sta. Rosa, Laguna, as well as the construction of a passenger terminal at the Caticlan airport in Aklan province, the gateway to the world-class Boracay Island.

TFIH owns majority of SMC.

"Sa Caticlan tapos na 'yung runway, 'yung apron expansion- 'yung apron (ay) kung saan mo pinaparada 'yung eroplano," said Ang. "Kulang na lang ngayon is the passenger terminal."

[Translation:In Caticlan, the runway is already finished, and also the apron expansion. The apron is where the airplanes are docked. The only thing missing is the passenger terminal.]

In the same meeting, SMC officials said the company's consolidated sales revenue in 2017 amounted to ₱826 billion, a 21 percent improvement over the 2016 level of ₱685 billion.

With this development, Ang hopes the company's performance will be sustained until the end of the year.

He noted the other projects SMC is looking at, including the extension of the Skyway from the North to South, an international airport in Bulacan that will be an alternative to the Ninoy Aquino International Airport, a bridge connecting Boracay and Caticlan, and the expansion of the Petron refinery in Bataan.