FDC sets P21.2-B capex for continued expansion

May 21, 2021
by Filinvest Development Corporation

Gotianun family-led Filinvest Development Corporation (FDC) is allotting P21.2 billion for capital expenditures this year as it aims to continue expanding organically and through partnerships despite uncertainties faced by the economy.

During the firm’s annual stockholders’ meeting, FDC President Josephine Gotianun-Yap said about a quarter of the capex is slated for investments in new ventures including the eco-sustainable space while the balance is for the real estate business.

Gotinanun-Yap said that, after over a year living through the health crisis, the company has come out relatively stronger than its peers.

She said FDC is now gearing for a post-pandemic economic recovery for the country and its portfolio of businesses with a balance of circumspect and optimism.

Gotianun-Yap said FDC’s foremost and basic strategy is to build scale and leverage on its strong foundation, organization and franchise.

Over the years, FDC has built an arsenal of investments across its businesses providing solid footing for future growth.

This move is seen to provide more employment through its ecosystem in key industries that are very crucial for economic growth at this stage of the country’s recovery.

She said EastWest Bank will continue to grow its share of consumer wallet through its 468-branch network and its strong franchise in the retail lending space.

In power, FDC aims to maximize returns from the uncontracted capacity of its 405-MW coal plant while its property subsidiaries will continue to monetize assets through trading and build-up of their investment portfolio.

The real estate business, comprised of listed company Filinvest Land, Inc. (FLI) and Filinvest Alabang, Inc., has an extensive landbank of close to 1,900 hectares of raw land and over 580 hectares of prime commercial land for development.

As one of the country’s largest conglomerates, FDC is actively looking for new areas of growth. FDC is resolute in building an eco-sustainable platform with the support of joint venture partners who are international players recognized for their leadership in their respective fields.

Gotianun-Yap said their strategy is “to forge partnerships with shared values and vision. We are in pursuit of like-minded partnerships that will bolster our financial muscle, deepen our management bench, and widen our technological expertise.”

According to FDC Chairman Jonathan T. Gotianun, “As we bring FDC to new heights with these strategies, we recognize our ability to do well in business while doing good for society.”

“Our strategies are made more meaningful as we help achieve certain sustainable development goals – gender equality, decent work and economic growth, sustainable cities and communities, clean water and sanitation, industry, innovation and infrastructure, and partnerships for the goals,” he added.

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