LT Group earmarks up to P9-B capex this year

LT Group Inc. (LTG), the listed conglomerate of tycoon Lucio Tan, is programming an P8 billion to P9 billion spending budget this year, the bulk of which will go to its property business.

In a press briefing after the firm’s annual stockholders’ meeting on Tuesday, LTG president Michael G. Tan said P7.7 billion of the capital expenditures is going into its property business segment while the rest will finance its consumer beverage, liquor, and tobacco businesses.