May 16, 2018
DISCLOSURE DEPARTMENT The Philippine Stock Exchange 3/F Tower One and Exchange Plaza Ayala Triangle, Ayala Avenue Makati City
Attention: JOSE VALERIANO B. ZUÑO III OIC - Head, Disclosure Department
Gentlemen:
We reply to your request for clarifications on the news article entitled “DMCI raises capex to over P40B this year” posted in bworldonline.com on May 16, 2018. The article reported in part that:
“DMCI Holdings, Inc. is setting aside P40.7 billion in capital expenditures this year, the bulk of which will go into its property and integrated energy businesses, company officials said on Tuesday.
‘Without Maynilad [Water Services, Inc.], capex is P31.5 billion,’ Herbert M. Consunji, DMCI chief finance officer, told reporters after the holding firm’s annual stockholders’ meeting at the Manila Polo Club in Makati City.
Of the P31.5 billion, Mr. Consunji said P16 billion had been allocated to DMCI Homes, Inc., while Semirara Mining and Power Corp. would get P13 billion.
DMCI Power Corp., the firm’s off-grid energy developer, has a budget of P2.034 billion, which will go largely into the development of a 15-megawatt (MW) coal-fired power plant in Masbate province.
. . . .
Company officials said they were going to adjust this year’s sales target to P40 billion after aiming for P31 billion late last year. In 2017, they said the company reached P40 billion in property sales.
During the same briefing, Mr. Consunji said DMCI Holdings had deferred plans to venture into renewable energy, including setting aside its possible foray into run-of-river power development projects.
He said the group’s venture into renewable energy had been ‘postponed until better times.’
. . . .”
We confirm the information on the above news article. However, we also wish to clarify the following:
1. The P40.7 billion pertains to disbursement budget for capital expenditure for 2018. 2. Sales and reservation of P40 billion in 2017 pertains to December 2016 to November 2017 period. |