Philippines’ San Miguel says it seeks overseas acquisitions to boost profits

5TA8A991UMThe Philippines’ most diversified conglomerate San Miguel Corp is on the lookout for profitable energy, food and airline companies abroad that it can acquire to help boost its cash flow and profits, its senior executive said.

“Oil and gas is our priority,” San Miguel President and Chief Operating Officer Ramon Ang told reporters on September 15. “A good investment is a company with stable cash flow and consistent profit,” he added.

Ang said the conglomerate is also interested in buying into a U.S. or Japanese airline, but declined to give details.

April Lee-Tan, Vice-President and Head of Research Department at COL Financial Group Inc in Manila, said acquiring established companies overseas would help alleviate concerns about San Miguel’s liquidity.

“It would also provide some diversification and at least the focus would be on cash flow generating companies,” said Lee-Tan.

The 124-year old conglomerate, as of end-June, had 787.7 billion pesos ($17.91 billion) in total liabilities while total assets stood at 1.2 trillion pesos.
San Miguel has said it is planning a solo bid for British snacks maker United Biscuits, owner of brands such as Jaffa Cakes and Twiglets.

Locally, San Miguel plans to bid for a number of infrastructure projects under the Philippines’ public-private partnership scheme, Ang said.

Last week, San Miguel signed a deal to sell its 49 per cent stake in Philippine Airlines back the Lucio Tan group, in a transaction worth around $1 billion.

 



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The Philippines' most diversified conglomerate San Miguel Corp is on the lookout for profitable energy, food and airline companies abroad that it can acquire to help boost its cash flow and profits, its senior executive said. "Oil and gas is our priority," San Miguel President and Chief Operating Officer Ramon Ang told reporters on September 15. "A good investment is a company with stable cash flow and consistent profit," he added. Ang said the conglomerate is also interested in buying into a U.S. or Japanese airline, but declined to give details. April Lee-Tan, Vice-President and Head of Research Department at...

5TA8A991UMThe Philippines’ most diversified conglomerate San Miguel Corp is on the lookout for profitable energy, food and airline companies abroad that it can acquire to help boost its cash flow and profits, its senior executive said.

“Oil and gas is our priority,” San Miguel President and Chief Operating Officer Ramon Ang told reporters on September 15. “A good investment is a company with stable cash flow and consistent profit,” he added.

Ang said the conglomerate is also interested in buying into a U.S. or Japanese airline, but declined to give details.

April Lee-Tan, Vice-President and Head of Research Department at COL Financial Group Inc in Manila, said acquiring established companies overseas would help alleviate concerns about San Miguel’s liquidity.

“It would also provide some diversification and at least the focus would be on cash flow generating companies,” said Lee-Tan.

The 124-year old conglomerate, as of end-June, had 787.7 billion pesos ($17.91 billion) in total liabilities while total assets stood at 1.2 trillion pesos.
San Miguel has said it is planning a solo bid for British snacks maker United Biscuits, owner of brands such as Jaffa Cakes and Twiglets.

Locally, San Miguel plans to bid for a number of infrastructure projects under the Philippines’ public-private partnership scheme, Ang said.

Last week, San Miguel signed a deal to sell its 49 per cent stake in Philippine Airlines back the Lucio Tan group, in a transaction worth around $1 billion.

 



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Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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