Eton Properties Philippines Inc. will get about PHP2bn (USD38.3m) of the PHP19bn capital expenditures that the LT Group Inc., Lucio Tan’s flagship enterprise, has allocated for this year. The amount will be used by Eton to expand its leasing portfolio by building more office towers for business process outsourcing companies. Michael Tan, LT Group president, said Eton is expected to continue its growth momentum as more space is added to its leasing portfolio with the completion of its pipeline projects. This year’s PHP19bn budget is a significant increase from last year’s budget of PHP11bn. Tan said half of the amount will be used by the Philippine National Bank, which will be financed by its planned PHP12bn stock rights offering. Other subsidiaries such as Tanduay Distillers, Asia Brewery, and Fortune Tobacco — which operates through PMFTC Inc., a partnership with Philip Morris Philippines Manufacturing Inc. — will get about PHP1bn, the normal yearly capex, said Tan.
- 3,000 firms
Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)
The #1 outsourcing authority
Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.
The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.
About Derek Gallimore
Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.
Outsource Accelerator in the mediaSee all media mentions
- Outsourcing industry “absolutely booming”
- Outsourcing industry recovery could be starting, survey indicates
- Doom or boom faces the IT-BPM industry (part 2)
- Bright future for outsourcing
- The Chinese Antidote to a Covid-battered Philippines
- The Philippine IT BPM Industry: Your Tool for Business Recovery and Continuity
- BPO industry in Philippines seen benefitting as firms abroad cut costs due to pandemic