MPIC spending P80b in 2023 to expand projects READ MORE:
MPIC chief finance officer Chaye Revilla-Cabal said in a news briefing that while the bulk of this year’s capital spending would be for core businesses, the conglomerate was also prepared to deepen its foothold in the agriculture sector where it allotted P8 billion to fund acquisitions.
“The vision is to make agriculture a core pillar of MPIC group over time and make it big as Maynilad or hospital group,” Cabal said. Cabal said core net income, which excludes one-time items, grew at a faster rate of 15 percent to P14.2 billion. Power accounted for P12.4 billion or 65 percent of net operating income, followed by toll roads which contributed P5.7 billion or 30 percent.
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